Astrotech Reports Third Quarter of Fiscal Year 2025 Financial Results
Astrotech (NASDAQ: ASTC) reported its Q3 FY2025 financial results, showing significant revenue growth to $534,000 compared to $50,000 in Q3 FY2024. The revenue came from TRACER 1000™ shipments, a government grant, and recurring sales. The company maintains a strong balance sheet with $20.9 million in cash and investments, down from $31.9 million in June 2024.
Key developments include a DHS R&D contract for the TRACER 1000, a $429,000 purchase order from Intuitive Research, the creation of EN-SCAN subsidiary for environmental testing, and the configuration of TRACER 1000 NTD for synthetic opiate detection. The company's mass spectrometry instruments are now deployed in 15 countries for explosive trace detection, with expanded applications in narcotics detection, environmental monitoring, and chemical processing.
Astrotech (NASDAQ: ASTC) ha riportato i risultati finanziari del terzo trimestre dell'anno fiscale 2025, evidenziando una crescita significativa dei ricavi, saliti a 534.000 dollari rispetto ai 50.000 dollari del terzo trimestre dell'anno fiscale 2024. I ricavi derivano dalle spedizioni del TRACER 1000™, da una sovvenzione governativa e da vendite ricorrenti. L'azienda mantiene un bilancio solido con 20,9 milioni di dollari in liquidità e investimenti, in calo rispetto ai 31,9 milioni di dollari di giugno 2024.
Gli sviluppi chiave includono un contratto di ricerca e sviluppo con il DHS per il TRACER 1000, un ordine di acquisto da 429.000 dollari da Intuitive Research, la creazione della controllata EN-SCAN per test ambientali e la configurazione del TRACER 1000 NTD per il rilevamento di oppiacei sintetici. Gli strumenti di spettrometria di massa dell'azienda sono ora utilizzati in 15 paesi per il rilevamento di tracce di esplosivi, con applicazioni estese al rilevamento di narcotici, monitoraggio ambientale e processi chimici.
Astrotech (NASDAQ: ASTC) reportó sus resultados financieros del tercer trimestre del año fiscal 2025, mostrando un crecimiento significativo en los ingresos, que alcanzaron los 534.000 dólares en comparación con los 50.000 dólares del tercer trimestre del año fiscal 2024. Los ingresos provinieron de los envíos del TRACER 1000���, una subvención gubernamental y ventas recurrentes. La compañía mantiene un balance sólido con 20,9 millones de dólares en efectivo e inversiones, disminuyendo desde 31,9 millones en junio de 2024.
Los desarrollos clave incluyen un contrato de I+D con el DHS para el TRACER 1000, una orden de compra por 429.000 dólares de Intuitive Research, la creación de la subsidiaria EN-SCAN para pruebas ambientales y la configuración del TRACER 1000 NTD para la detección de opiáceos sintéticos. Los instrumentos de espectrometría de masas de la compañía están ahora desplegados en 15 países para la detección de rastros de explosivos, con aplicaciones ampliadas en detección de narcóticos, monitoreo ambiental y procesos químicos.
Astrotech (NASDAQ: ASTC)는 2025 회계연도 3분기 실적을 발표하며, 2024 회계연도 3분기의 5만 달러에서 크게 증가한 53만 4천 달러의 매출을 기록했습니다. 매출은 TRACER 1000™ 출하, 정부 보조금, 반복 판매에서 발생했습니다. 회사는 2090만 달러의 현금 및 투자 자산을 보유한 탄탄한 재무 상태를 유지하고 있으며, 2024년 6월의 3190만 달러에서 감소했습니다.
주요 발전 사항으로는 TRACER 1000 개발을 위한 DHS 연구개발 계약, Intuitive Research로부터의 42만 9천 달러 구매 주문, 환경 테스트를 위한 EN-SCAN 자회사 설립, 합성 아편류 탐지를 위한 TRACER 1000 NTD 구성 등이 포함됩니다. 회사의 질량 분석 기기는 현재 15개국에서 폭발물 흔적 탐지에 사용되고 있으며, 마약 탐지, 환경 모니터링, 화학 공정 등으로 적용 범위를 확대하고 있습니다.
Astrotech (NASDAQ : ASTC) a publié ses résultats financiers du troisième trimestre de l'exercice 2025, affichant une croissance significative des revenus à 534 000 dollars contre 50 000 dollars au troisième trimestre de l'exercice 2024. Les revenus proviennent des expéditions du TRACER 1000™, d'une subvention gouvernementale et de ventes récurrentes. La société maintient un bilan solide avec 20,9 millions de dollars en liquidités et investissements, en baisse par rapport à 31,9 millions en juin 2024.
Les développements clés incluent un contrat de R&D avec le DHS pour le TRACER 1000, une commande d'achat de 429 000 dollars d'Intuitive Research, la création de la filiale EN-SCAN pour les tests environnementaux, ainsi que la configuration du TRACER 1000 NTD pour la détection des opiacés synthétiques. Les instruments de spectrométrie de masse de l'entreprise sont désormais déployés dans 15 pays pour la détection de traces d'explosifs, avec des applications étendues à la détection de narcotiques, à la surveillance environnementale et au traitement chimique.
Astrotech (NASDAQ: ASTC) meldete die Finanzergebnisse für das dritte Quartal des Geschäftsjahres 2025 und verzeichnete ein deutliches Umsatzwachstum auf 534.000 US-Dollar im Vergleich zu 50.000 US-Dollar im dritten Quartal des Geschäftsjahres 2024. Die Einnahmen stammen aus Lieferungen des TRACER 1000™, einem Regierungszuschuss und wiederkehrenden Verkäufen. Das Unternehmen verfügt über eine starke Bilanz mit 20,9 Millionen US-Dollar an liquiden Mitteln und Investitionen, was einem Rückgang von 31,9 Millionen US-Dollar im Juni 2024 entspricht.
Wesentliche Entwicklungen umfassen einen F&E-Vertrag mit dem DHS für den TRACER 1000, eine 429.000 US-Dollar Bestellauftrag von Intuitive Research, die Gründung der Tochtergesellschaft EN-SCAN für Umweltprüfungen sowie die Konfiguration des TRACER 1000 NTD zur Erkennung synthetischer Opiate. Die Massenspektrometrie-Instrumente des Unternehmens sind inzwischen in 15 Ländern zur Explosivstoff-Spurendetektion im Einsatz, mit erweiterten Anwendungen in der Drogenaufdeckung, Umweltüberwachung und chemischen Verarbeitung.
- None.
- Cash position decreased from $31.9M in June 2024 to $20.9M in March 2025, indicating significant cash burn
- Despite revenue growth, absolute revenue numbers remain relatively small
Insights
Astrotech shows 968% revenue growth in Q3, but cash burn of $11M over 9 months raises sustainability concerns despite innovative product portfolio.
The Q3 results show Astrotech's revenue jumped dramatically to
While revenue growth is impressive, the rapid cash burn is concerning. Cash reserves decreased from
The launch of four distinct product lines demonstrates R&D execution but increases operational complexity during commercialization. The company has pivoted from R&D to sales and marketing focus, which typically requires different skills and investment patterns. The international expansion into 15 countries provides geographic diversification, though the press release doesn't quantify installation base or recurring revenue rates.
The Department of Homeland Security contract represents validation of technology but doesn't specify the contract value. Multiple pending quotes in the chemical and petrochemical sectors suggest a building pipeline, but conversion rates and sales cycles remain uncertain. Management's forward-looking statements indicate confidence but lack quantitative projections, making it difficult to assess the likelihood of achieving profitability before cash reserves are depleted.
AUSTIN, Texas, May 13, 2025 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the third quarter of fiscal year 2025, which ended March 31, 2025.
Thomas B. Pickens, III, Astrotech’s Chairman, Chief Executive Officer and Chief Technology Officer, said, “Our customizable, portable and field updatable mass spectrometry instruments have the potential to be a game changer in a growing list of large end markets such as airport security and cargo scanning, narcotics detection, environmental monitoring and chemical processing. I am very proud of our team’s accomplishments, as we now have launched four product lines that we believe will expand our sales opportunities to potential customers from around the world. We have been serving airports worldwide with 1st Detect’s explosive trace detection products in 15 countries having earned a valuable track record for delivering and maintaining our instruments.”
Pickens continued, “Our Pro-Control product line now includes in-situ process controls for automatic chemical manufacturing optimization. Decisions are progressing and many quotes are pending, and we are very encouraged with the testing we have completed with some of the largest chemical and petrochemical companies. We are currently focused on selling and marketing all our brands. With our newest product lines, the TRACER NTD, Pro-Control, and EN-SCAN we believe we have created great momentum in fiscal year 2025 and into fiscal year 2026 and are very excited about our future.”
Financial Highlights & Recent Developments
- Fiscal year 2025 Q3 revenue of
$534 thousand , compared to$50 thousand in fiscal year 2024 Q3, is comprised of TRACER 1000™ shipments, a government grant, and recurring consumable sales and maintenance services. - On January 14, 2025, our 1st Detect subsidiary announced that it was awarded research and development contract 70RSAT24CB0000015 with the Department of Homeland Security (“DHS”) to research, develop and mature the TRACER 1000 for DHS next generation explosives trace detection.
- On January 23, 2025, we announced that 1st Detect received a
$429 thousand purchase order for its TRACER 1000™ ETDs from Intuitive Research and Technology Corporation, a TSA contractor, which was fulfilled and recognized as revenue during the three months ended March 31, 2025. - On February 28, 2025, the Company announced that it had created a new wholly owned subsidiary, EN-SCAN, Inc., to manufacture and sell a new line of instruments built for environmental testing applications using its proprietary ATi Gas Chromatograph and Astrotech Mass Spectrometer Technology™.
- On March 10, 2025, we announced the TRACER 1000 NTD has been configured to screen for a range of synthetic opiates and novel psychoactive substances delivering accuracy and speed to counter the global drug crisis.
- Astrotech’s consolidated balance sheet remains strong with
$20.9 million in cash, cash equivalents and liquid investments to support the Company’s completion of R&D projects and transition into a selling and marketing focused company. Cash, cash equivalents and liquid investments were$31.9 million at June 30, 2024.
About Astrotech Corporation
Astrotech (Nasdaq: ASTC) is a mass spectrometry company that launches, manages, and commercializes scalable companies based on its innovative core technology through its wholly owned subsidiaries. 1st Detect develops, manufactures, and sells trace detectors for use in the security and narcotics detection market. AgLAB develops and sells process analyzers for use in the agriculture market. Pro-Control produces products for the in-situcontrol of the chemical manufacturing processes. BreathTech is developing a breath analysis tool to screen for volatile organic compounds that could indicate infections or critical conditions. EN-SCAN, Inc. develops advanced environmental testing and monitoring solutions, integrating gas chromatography and mass spectrometry technology in rugged, portable designs for rugged environments. Astrotech is headquartered in Austin, Texas. For information, please visit www.astrotechcorp.com.
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, the adverse impact of inflationary pressures, including significant increases in fuel costs, global economic conditions and events related to these conditions, including the ongoing wars in Ukraine and the middle east and the COVID-19 pandemic, the Company’s use of proceeds from the common stock offerings, whether we can successfully complete the development of our new products and proprietary technologies, whether we can obtain the FDA and other regulatory approvals required to market our products under development in the United States or abroad, whether the market will accept our products and services and whether we are successful in identifying, completing and integrating acquisitions, as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements in this document should be evaluated in light of these important risk factors. While we do not intend to directly harvest, manufacture, distribute or sell cannabis or cannabis products, we may be detrimentally affected by a change in enforcement by federal or state governments and we may be subject to additional risks in connection with the evolving regulatory area and associated uncertainties. Any such effects may give rise to risks and uncertainties that are currently unknown or amplify others mentioned herein. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. In addition, any forward- looking statements included in this press release represent the Company’s views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to correct or update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Company Contact: Ryan Polk, Chief Financial Officer, Astrotech Corporation, (512) 737-7378.
Investor Contact: Matt Kreps, Managing Director, Darrow Associates, (214) 597-8200, mkreps@darrowir.com.
Financial tables follow
| ASTROTECH CORPORATION AND SUBSIDIARIES | ||||||||||||||||
| Condensed Consolidated Statements of Operations and Comprehensive Loss | ||||||||||||||||
| (In thousands, except per share data) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| March 31, | March 31, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue | $ | 534 | $ | 50 | $ | 829 | $ | 1,590 | ||||||||
| Cost of revenue | 297 | 42 | 428 | 867 | ||||||||||||
| Gross profit | 237 | 8 | 401 | 723 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling, general and administrative | 2,115 | 1,833 | 5,842 | 5,501 | ||||||||||||
| Research and development | 1,989 | 1,708 | 6,375 | 5,158 | ||||||||||||
| Total operating expenses | 4,104 | 3,541 | 12,217 | 10,659 | ||||||||||||
| Loss from operations | (3,867 | ) | (3,533 | ) | (11,816 | ) | (9,936 | ) | ||||||||
| Other income and expense, net | 234 | 379 | 896 | 1,229 | ||||||||||||
| Net loss | $ | (3,633 | ) | $ | (3,154 | ) | $ | (10,920 | ) | $ | (8,707 | ) | ||||
| Weighted average common shares outstanding: | ||||||||||||||||
| Basic and diluted | 1,665 | 1,633 | 1,663 | 1,632 | ||||||||||||
| Basic and diluted net loss per common share: | ||||||||||||||||
| Net loss per common share | $ | (2.18 | ) | $ | (1.93 | ) | $ | (6.57 | ) | $ | (5.34 | ) | ||||
| Other comprehensive loss, net of tax: | ||||||||||||||||
| Net loss | $ | (3,633 | ) | $ | (3,154 | ) | $ | (10,920 | ) | $ | (8,707 | ) | ||||
| Available-for-sale securities: | ||||||||||||||||
| Net unrealized gain | 139 | 13 | 236 | 284 | ||||||||||||
| Total comprehensive loss | $ | (3,494 | ) | $ | (3,141 | ) | $ | (10,684 | ) | $ | (8,423 | ) | ||||
| ASTROTECH CORPORATION AND SUBSIDIARIES | ||||||||
| Condensed Consolidated Balance Sheets | ||||||||
| (In thousands, except share and per share data) | ||||||||
| March 31, | June 30, | |||||||
| 2025 | 2024 | |||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 2,812 | $ | 10,442 | ||||
| Short-term investments | 18,057 | 21,474 | ||||||
| Accounts receivable | 516 | 77 | ||||||
| Contract Asset | 7 | — | ||||||
| Inventory, net: | ||||||||
| Raw materials | 2,296 | 2,038 | ||||||
| Work-in-process | 146 | 66 | ||||||
| Finished goods | 310 | 370 | ||||||
| Prepaid expenses and other current assets | 431 | 261 | ||||||
| Total current assets | 24,575 | 34,728 | ||||||
| Property and equipment, net | 2,486 | 2,763 | ||||||
| Intangible asset, net | 50 | — | ||||||
| Operating lease right-of-use assets, net | 35 | 119 | ||||||
| Other assets, net | 346 | 30 | ||||||
| Total assets | $ | 27,492 | $ | 37,640 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 616 | $ | 373 | ||||
| Payroll related accruals | 928 | 1,174 | ||||||
| Accrued expenses and other liabilities | 882 | 754 | ||||||
| Lease liabilities, current | 66 | 227 | ||||||
| Total current liabilities | 2,492 | 2,528 | ||||||
| Accrued expenses and other liabilities, net of current portion | 193 | 232 | ||||||
| Lease liabilities, net of current portion | 55 | 73 | ||||||
| Total liabilities | 2,740 | 2,833 | ||||||
| Commitments and contingencies (Note 14) | ||||||||
| Stockholders’ equity | ||||||||
| Convertible preferred stock, | — | — | ||||||
| Common stock, | 190,643 | 190,643 | ||||||
| Treasury shares, 10,316 at March 31, 2025, and June 30, 2024, respectively | (119 | ) | (119 | ) | ||||
| Additional paid-in capital | 83,109 | 82,480 | ||||||
| Accumulated deficit | (247,940 | ) | (237,020 | ) | ||||
| Accumulated other comprehensive loss | (941 | ) | (1,177 | ) | ||||
| Total stockholders’ equity | 24,752 | 34,807 | ||||||
| Total liabilities and stockholders’ equity | $ | 27,492 | $ | 37,640 | ||||
FAQ
What was Astrotech's (ASTC) revenue in Q3 2025?
How much cash and investments does Astrotech (ASTC) have as of Q3 2025?
What was the value of the purchase order Astrotech received from Intuitive Research?
In how many countries are Astrotech's explosive trace detection products deployed?
What new subsidiary did Astrotech create in February 2025?
