ASTROTECH Corp SEC 10-Q Report

ASTROTECH Corp, a company specializing in the development and commercialization of mass spectrometry-based explosives trace detectors and environmental testing instruments, has released its Form 10-Q report for the third quarter of fiscal year 2025. The report highlights significant financial and operational developments, reflecting the company's ongoing efforts to expand its market presence and enhance its product offerings.

Financial Highlights

Total Revenue: $0.534 million, increased by $0.484 million during the third quarter of fiscal year 2025 compared to the third quarter of fiscal year 2024, primarily due to sales of the TRACER 1000 and government grants.

Gross Profit: $0.237 million, with a gross margin of 44% for the third quarter of fiscal year 2025, up from 16% in the same period of fiscal year 2024, driven by higher-margin device sales.

Loss from Operations: $(3.867) million, increased from $(3.533) million in the third quarter of fiscal year 2024, due to higher operating expenses.

Net Loss: $(3.633) million, compared to $(3.154) million in the third quarter of fiscal year 2024, reflecting increased operating expenses.

Net Loss Per Common Share: $(2.18), compared to $(1.93) in the third quarter of fiscal year 2024, due to increased net loss.

Business Highlights

Revenue Segments: The TRACER 1000, a mass spectrometry-based explosives trace detector, was a significant contributor to revenue, with sales primarily derived from this product along with government grants and ongoing consumable and maintenance services.

Geographical Performance: The TRACER 1000 is deployed in approximately 32 locations across 15 countries, including the United States, Europe, and Asia, indicating a broad international market presence.

Sales Units: The company reported an increase in device sales for the TRACER 1000 during the third quarter of fiscal year 2025 compared to the same period in 2024, contributing to higher revenue.

New Product Launches: The TRACER 1000 NTD has been configured to screen for synthetic opiates and novel psychoactive substances, expanding its application in addressing the global drug crisis.

New Production Launches: The formation of EN-SCAN, Inc. was announced to manufacture and sell instruments for environmental testing using proprietary technology for real-time air, water, and soil analysis.

Future Outlook: The company plans to continue showcasing the TRACER 1000 NTD and ETD at trade events in the U.S. and anticipates further expansion in the hemp and cannabis markets with the AgLAB 1000-D2™ series.

SEC Filing: ASTROTECH Corp [ ASTC ] - 10-Q - May. 14, 2025