Astrotech Corp SEC Filings

Astrotech Corporation (ASTC) reported Q1 FY2025 results. Revenue was $297 thousand versus $34 thousand a year ago, with gross margin improving to 63% from 26%. The company recorded a net loss of $3.465 million (basic and diluted net loss per share $2.07), reflecting continued investment in operations.

Operating cash flow was $(3.936) million. Cash and cash equivalents were $2.646 million, and short‑term investments were $11.290 million, supporting working capital of approximately $16.3 million as of September 30, 2025. Total assets were $23.240 million and stockholders’ equity was $19.087 million.

Revenue included U.S. sales of $256 thousand and foreign sales of $41 thousand. Three customers comprised substantially all revenue for the quarter. As of November 11, 2025, common shares outstanding were 1,758,953. The company also noted an 89‑month lease for its Austin Metric Facility with total base rent obligations of about $3.0 million, less a $317.3 thousand tenant allowance.

Astrotech Corporation furnished a Form 8-K announcing results of operations for its first quarter of fiscal 2026, which ended September 30, 2025.

The press release is attached as Exhibit 99.1 and incorporated by reference; this information is furnished and not deemed filed under the Exchange Act.

Astrotech Corporation approved a Transaction Bonus Plan that pays designated participants a percentage of net proceeds from a future “qualifying transaction.” The Bonus Pool equals 10% of the first $50 million, 5% of amounts between $50 million and $100 million, and 2% of amounts above $100 million, and is only established if net proceeds reach at least $30 million.

Eligible participants (selected employees, contractors, or outside directors) must be actively providing services on the closing date, with bonuses paid in cash within 30 days after closing. If a participant has a “qualifying termination,” eligibility can continue if the transaction closes within six months. The plan is effective November 5, 2025 and runs until the earlier of five years or termination under its terms.

Astrotech also finalized separation terms with former CFO Jennifer Canas. She will receive a cash separation payment of $122,795.25, and the company will pay COBRA premiums for her and eligible dependents through April 30, 2026 or until other coverage begins, in exchange for a general release and customary covenants.

Astrotech Corporation appointed Scott Bartley as Interim Chief Financial Officer, Treasurer and Secretary. The Board’s appointment occurred on October 27, 2025, with services provided under a consulting arrangement.

Under a Consulting Services Agreement effective October 5, 2025, Mr. Bartley will be paid approximately $7,800 per week at $260 per hour for about 30 hours per week. Either party may terminate the agreement with two weeks’ written notice, and travel expenses are shared between Bridgepoint Consulting and the Company. The Company will use its standard indemnification agreement. Astrotech also issued a press release on October 31, 2025.

Astrotech Corporation (ASTC) filed its definitive proxy for the 2025 annual meeting. The meeting is set for December 12, 2025 at 9:00 a.m. CST at 1817 West Braker Lane, Suite 400, Austin, Texas. Stockholders will vote to elect six director nominees to serve until the 2026 annual meeting and to ratify RBSM LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2026.

The record date is October 16, 2025. Shares outstanding were 1,769,269 as of October 16, 2025, including 82,500 shares of restricted stock with voting rights, with one vote per share. The Board recommends voting for all nominees—Thomas B. Pickens III, Tom Wilkinson, Bob McFarland, Eric Stober, John Halinski, and Charles Winn—and for auditor ratification. Voting is available by mail, phone (1-888-457-2959), or online (www.proxyvoting.com/ASTC). The proxy also details board committee structures, director independence, executive compensation, and one related-party transaction disclosed under company policy.

Astrotech Corporation announced that Jennifer Canas resigned as Chief Financial Officer, Treasurer and Secretary, effective immediately on October 17, 2025. The company reported her resignation under Item 5.02 of the Exchange Act.

Astrotech intends to negotiate a separation agreement with Ms. Canas that would outline certain separation benefits and include restrictive covenants in favor of the company. No additional management changes or financial details are included in this report.

ASTROTECH Corp (ASTC) reported insider dispositions by director Leonard Braden Michael on 10/03/2025. The filing shows the sale of 220,410 shares at an average price of $7.1305 and an additional 9,166 shares at $5.83, reducing the reporting person’s beneficial ownership to 0 shares. The filer clarifies that the shares sold included holdings of BML Investment Partners, L.P., for which Mr. Leonard exercises investment and voting control but disclaims direct beneficial ownership except for pecuniary interest. The form is signed and dated 10/07/2025.

Astrotech Corporation (ASTC) had a reporting holder fully exit its position. BML Investment Partners, L.P. and its related person, Braden M. Leonard, reported that they no longer beneficially own any common shares after selling a total of 229,576 shares on 10/03/2025. The filing states BML Investment Partners sold 220,410 shares at a weighted average price of $7.1305 and Mr. Leonard sold 9,166 shares at $5.83. The original acquisition used approximately $3.77 million of working capital. The report updates ownership to 0 shares (0%) and discloses organizational relationships linking Mr. Leonard, BML Capital Management, LLC and BML Investment Partners.

Astrotech Corp (ASTC) operates technologies based on the Astrotech Mass Spectrometer Technology and subsidiaries that develop explosive and narcotic trace detectors for security and industrial markets. The filing discloses approximately $1.0 million in revenue for the most recent year, with prior-year revenue of about $1.7 million driven largely by three customers. The company reported operating losses of $13.8 million in fiscal 2025 and $11.7 million in fiscal 2024. Shares outstanding at June 30, 2025 were 1,758,953 after a 1-for-30 reverse stock split applied retroactively. Lease commitments include a new Austin facility with contractual base rent of about $3.0 million (less a $317.3 thousand tenant allowance). The company holds net operating loss carryforwards (approximately $37.8 million and indefinite-lives of ~$60.2 million for federal tax purposes, with limited realizable benefit), reports no material allowance for doubtful accounts, and had inventory reserves of $346 thousand at June 30, 2025. Significant customer concentration and ongoing operating losses are disclosed.