Astrotech Reports Fiscal Year 2025 Financial Results

September 25, 2025 16:35 ET | Source: Astrotech Corporation AUSTIN, Texas, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the fiscal year ended June 30, 2025. Financial Highlights & Fiscal Year Developments Revenue decreased to $1.0 million as Astrotech’s subsidiary, 1st Detect, sold less devices compared to prior year. Gross margin increased to 45.3% for the year compared to 45.1% in the prior year, due to device sales in fiscal year 2025 having a higher margin compared to the device sales in fiscal year 2024.As of June 30, 2025, the Company has deployed the TRACER 1000 in approximately 34 locations in 16 countries across the United States, Europe and Asia.The Company announced the formation of 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 for outdoor field work for on-site, real-time air, water, and soil analysis providing instant feedback for accurate contamination source location and migration. With a focus on real-time monitoring, EN-SCAN is expected to enable organizations to make data-driven decisions while reducing testing costs and time delays.1st Detect Corporation launched its enhanced TRACER 1000 Narcotics Trace Detector. The TRACER 1000 NTD is a high-performance laboratory instrument capable of rapid detection of trace levels of narcotic compounds in seconds. The TRACER 1000 NTD and the TRACER 1000 ETD together provide a comprehensive protection platform that can be applied across various markets including airports, border security, checkpoint, cargo, infrastructure security, correctional facilities, military, and law enforcement. 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.1st Detect Corporation made its first sale and deployment of its TRACER 1000 Narcotics Trace Detector in Vietnam. This milestone marks a significant step in expanding the 1st Detect footprint across Southeast Asia and reinforces its commitment to enhancing narcotics trace detection inspection capabilities. Astrotech’s consolidated balance sheet consisted of $18.2 million in cash and cash equivalents and liquid investments as of June 30, 2025, which the Company believes will support the Company’s organic growth and research and development. “Our mission is simple - to make the benefits of precise mass spectrometry and gas chromatography accessible to organizations in our focus markets. Our mass spectrometry products have a strong international presence, serving multiple markets. Our gas chromatography products deliver meaningful advantages by meeting real-time, on-site industry demands. Our servicing has been expanded, and we now serve Asia, Europe and the United States. We believe our sales team’s commitment to excellence and their ability to respond to market opportunities will drive our growth in the next fiscal year,” stated Thomas B. Pickens, III, Astrotech’s Chairman, Chief Executive Officer and Chief Technology Officer. About Astrotech Corporation Astrotech (Nasdaq: ASTC) is a mass spectrometry company that creates, operates, and scales innovative businesses through its wholly owned subsidiaries. Each subsidiary leverages Astrotech’s core technology to serve specialized markets: 1st Detect develops, manufactures, and markets trace detection systems for security and narcotics screening applications.AgLAB designs process analyzers tailored to the agriculture industry.Pro-Control produces solutions for in-situ chemical process control in industrial manufacturing.BreathTech is advancing a breath analysis platform to detect volatile organic compounds (VOCs) associated with infections and critical health conditions.EN-SCAN, Inc. delivers portable, ruggedized environmental testing solutions that integrate gas chromatography and mass spectrometry for use in challenging field environments. 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 statements may be identified by terms such as “aims,” “anticipates,” “believes,” contemplates,” “continue,” “could,” “estimates,” “expect,” “forecast,” “guidance,” “intends,” “may,” “plans,” “possible,” “potential,” “predicts,” “preliminary,” “projects,” “seeks,” “should,” “targets,” “will” or “would,” or the negatives of these terms, variations of these terms or other similar expressions. 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, 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: Jennifer CañasChief Financial Officer, Astrotech Corporation (512) 485-9530 Investor Contact: Matt KrepsManaging Director, Darrow Associates (214) 597-8200 mkreps@darrowir.com Tables followASTROTECH CORPORATIONConsolidated Statements of Operations and Comprehensive Loss(In thousands, except per share data)(Unaudited) Years Ended June 30, 2025 2024 Revenue $1,049 $1,664 Cost of revenue 574 913 Gross profit 475 751 Operating expenses: Selling, general and administrative 7,067 7,241 Research and development 8,142 6,790 Total operating expenses 15,209 14,031 Loss from operations (14,734) (13,280)Other income and expense, net 886 1,616 Loss from operations before income taxes (13,848) (11,664)Income tax benefit /(expense) (2) (2)Net loss $(13,850) $(11,666)Weighted average common shares outstanding: Basic and diluted 1,665 1638 Basic and diluted net loss per common share: Net loss per common share $(8.32) $(7.12)Other comprehensive loss, net of tax: Net loss $(13,850) $(11,666)Available-for-sale securities: Net unrealized gain 313 276 Total comprehensive loss $(13,537) $(11,390) ASTROTECH CORPORATIONConsolidated Balance Sheets(In thousands, except share and per share data)(Unaudited) June 30, 2025 2024 Assets Current assets Cash and cash equivalents $3,100 $10,442 Short-term investments 15,108 21,474 Accounts receivable 485 77 Inventory, net: Raw materials 2,194 2,038 Work-in-process 425 66 Finished goods 310 370 Prepaid expenses and other current assets 353 261 Total current assets 21,975 34,728 Property and equipment, net 2,395 2,763 Intangible assets, net 48 - Operating lease right-of-use assets, net 2,225 119 Other assets, net 346 30 Total assets $26,989 $37,640 Liabilities and stockholders’ equity Current liabilities Accounts payable $1,066 $373 Payroll related accruals 529 1,174 Accrued expenses and other liabilities 451 754 Lease liabilities, current 405 227 Total current liabilities 2,451 2,528 Accrued expenses and other liabilities, net of current portion 164 232 Lease liabilities, net of current portion 2,274 73 Total liabilities 4,889 2,833 Commitments and contingencies (Note 13) Stockholders’ equity Convertible preferred stock, $0.001 par value, 2,500,000 shares authorized; 280,898 shares of Series D issued and outstanding at June 30, 2025 and 2024, respectively - - Common stock, $0.001 par value, 250,000,000 shares authorized at June 30, 2025 and 2024 respectively; 1,769,269 and 1,712,045 shares issued at June 30, 2025 and 2024 respectively; 1,758,953 and 1,701,729 outstanding at June 30, 2025 and 2024, respectively 190,643 190,643 Treasury shares, 10,316 shares at June 30, 2025 and 2024, respectively (119) (119)Additional paid-in capital 83,310 82,480 Accumulated deficit (250,870) (237,020)Accumulated other comprehensive loss (864) (1,177)Total stockholders’ equity 22,100 34,807 Total liabilities and stockholders’ equity $26,989 $37,640

Astrotech Reports Fiscal Year 2025 Financial Results

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