AUSTIN, Texas, Aug. 18, 2025 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”), today announced that it has appointed Nihanth Badugu as Chief Operating Officer (“COO”) of the Company. Mr. Badugu’s appointment is effective as of August 13, 2025. “The Board is thrilled to promote Mr. Badugu to Chief Operating Officer,” stated Thomas B. Pickens III, Chairman and Chief Executive Officer of Astrotech Corporation. “Nihanth has been an invaluable asset to Astrotech since joini ...

AUSTIN, Texas, Aug. 15, 2025 (GLOBE NEWSWIRE) -- -- Astrotech Corporation (“Astrotech” or the “Company”) (NASDAQ: ASTC) announced today that it has introduced its new EN-SCAN product line (“EN-SCAN”) of ultra-portable rugged environmental testing instruments, featuring its proprietary ATi Gas Chromatograph Column (“GC”) and ATi Mass Spectrometer Technology™ (“MS”) through its wholly owned subsidiary, EN-SCAN, Inc. By deploying EN-SCAN devices from Astrotech, customers gain access to real-time results and on ...

Company Overview - Astrotech Corporation is a mass spectrometry company that creates, operates, and scales innovative businesses through its wholly owned subsidiaries [3] - The company is headquartered in Austin, Texas [3] Subsidiaries and Their Focus - 1st Detect develops, manufactures, and markets trace detection systems for security and narcotics screening applications [4] - AgLAB designs process analyzers tailored to the agriculture industry [4] - Pro-Control produces solutions for in-situ chemical process control in industrial manufacturing [4] - BreathTech is advancing a breath analysis platform to detect volatile organic compounds (VOCs) associated with infections and critical health conditions [4] - EN-SCAN, Inc. delivers portable, ruggedized environmental testing solutions that integrate gas chromatography and mass spectrometry for use in challenging field environments [4] Investor Engagement - Thomas B. Pickens III, Chairman and CEO, and Jennifer Cañas, CFO, will host investor meetings on September 9, 2025, at the H.C. Wainwright 27th Annual Global Investment Conference in New York City [1] - Investors can register and request meetings with management via their HC Wainwright representative or Astrotech Investor Relations [2]

AUSTIN, Texas , July 31, 2025 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC), a provider of next generation security screening and detection technologies based on Mass Spectrometry (“Mass Spec”), today announced the first sale and deployment of its TRACER 1000™ Narcotics Trace Detector (“TRACER 1000 NTD™”) in Vietnam, by way of its subsidiary 1st Detect. This milestone marks a significant step in expanding the 1st Detect footprint across Southeast Asia and reinforces its commitment to enhancing na ...

Core Points - Astrotech Corporation has appointed Jennifer Cañas as Chief Financial Officer effective May 22, 2025 [1] - The Board expressed confidence in Ms. Cañas' leadership and experience, highlighting her strong performance since joining the company [2] - Ms. Cañas has over 20 years of experience in senior financial roles, including her previous position as Controller at The Texas Water Company [2] - She is a Certified Public Accountant and graduated Cum Laude with a Bachelor of Science degree in accounting from the University of Houston – Clear Lake [3] - Ms. Cañas is committed to leading the team with integrity and aims to deliver value for shareholders [4] Company Overview - Astrotech Corporation is a mass spectrometry company that develops and commercializes scalable companies through its subsidiaries [4] - Subsidiaries include 1st Detect, AgLAB, Pro-Control, BreathTech, and EN-SCAN, each focusing on different markets such as security, agriculture, and environmental testing [4]

Revenue and Profitability - Total revenue for the three months ended March 31, 2025, was $534 thousand, an increase of $484 thousand compared to $50 thousand in the same period of 2024[113] - Gross profit for the three months ended March 31, 2025, was $237 thousand, with a gross margin of 44%, compared to a gross profit of $8 thousand and a gross margin of 16% in 2024[113] - Revenue for the nine months ended March 31, 2025, decreased by $761 thousand to $829 thousand compared to $1,590 thousand for the same period in 2024[117] - Gross profit for the nine months ended March 31, 2025, was $401 thousand, down from $723 thousand in 2024, resulting in a gross margin increase to 48% from 45%[117][118] - The company reported a net loss of $10,920 thousand for the nine months ended March 31, 2025, compared to a net loss of $8,707 thousand in 2024[117] Operating Expenses - Operating expenses for the three months ended March 31, 2025, totaled $4,104 thousand, up from $3,541 thousand in the same period of 2024[113] - Operating expenses increased by $1.6 million, or 14.6%, during the nine months ended March 31, 2025, compared to the same period in 2024[119] - Research and development expenses rose by $1.2 million, or 23.6%, during the nine months ended March 31, 2025, driven by increased contractor personnel for mass spectrometry development[120] - Selling, general and administrative expenses increased by $341 thousand, or 6.2%, during the nine months ended March 31, 2025, due to increased sales consulting and hiring[120] Cash Flow and Financial Position - Cash and cash equivalents decreased by $7.6 million to $2.8 million as of March 31, 2025, compared to $10.4 million as of June 30, 2024[122] - Net cash used in operating activities increased by $3.4 million for the nine months ended March 31, 2025, due to higher operating losses[123] - Other income and expense, net decreased by $333 thousand during the nine months ended March 31, 2025, due to reduced interest income from investments[119] - The company's effective tax rate is 0% for the nine months ended March 31, 2025, with expectations of remaining at 0% for the full fiscal year[128] Product Developments and Orders - The TRACER 1000 is currently deployed in approximately 32 locations across 15 countries, including the USA, Europe, and Asia[92] - 1st Detect received a purchase order for the TRACER 1000 ETD valued at $429 thousand, recognized as revenue during the three months ended March 31, 2025[98] - AgLAB's Maximum Value Process has demonstrated the ability to improve ending-weight yields by approximately 15% to 30% during field trials[104] - The AgLAB 1000-D2™ series is focused on optimizing yields in the distillation process for the hemp and cannabis markets[100] - EN-SCAN, Inc. was formed to manufacture and sell instruments for environmental testing, utilizing proprietary AMS Technology for real-time analysis[109] - Pro-Control has introduced the Pro-Control Maximum Value Processing and the Pro-Control 1000-D2™ mass spectrometer for industrial process control applications[111]

Revenue and Sales Performance - Fiscal Year 2025 Q3 revenue reached $534 thousand, a significant increase from $50 thousand in Q3 of Fiscal Year 2024, driven by TRACER 1000™ shipments, a government grant, and recurring sales[4] - The gross profit for Q3 of Fiscal Year 2025 was $237 thousand, a notable increase from $8 thousand in Q3 of Fiscal Year 2024[10] Expenses and Losses - The net loss for Q3 of Fiscal Year 2025 was $3.633 million, compared to a net loss of $3.154 million in Q3 of Fiscal Year 2024[10] - Operating expenses for Q3 of Fiscal Year 2025 were $4.104 million, compared to $3.541 million in Q3 of Fiscal Year 2024, reflecting increased investment in R&D and marketing[10] Cash and Equity - Cash, cash equivalents, and liquid investments totaled $20.9 million as of March 31, 2025, down from $31.9 million at June 30, 2024[4] - Total stockholders' equity decreased to $24.752 million as of March 31, 2025, down from $34.807 million at June 30, 2024[12] Product Development and Launches - The Company launched four product lines, including TRACER NTD, Pro-Control, and EN-SCAN, aimed at expanding sales opportunities in various markets[2] - A research and development contract worth $429 thousand was awarded to the 1st Detect subsidiary by the Department of Homeland Security for the TRACER 1000 project[4] - The Company created a new wholly owned subsidiary, EN-SCAN, Inc., to manufacture and sell instruments for environmental testing applications[4] - The TRACER 1000 NTD has been configured to screen for synthetic opiates and novel psychoactive substances, enhancing its capabilities in drug detection[4]

Core Insights - Astrotech Corporation reported a significant increase in revenue for Q3 of fiscal year 2025, reaching $534 thousand compared to $50 thousand in the same quarter of fiscal year 2024, driven by TRACER 1000 shipments, a government grant, and recurring sales [6] - The company has launched four product lines aimed at various markets, including airport security, narcotics detection, and environmental monitoring, indicating a strong growth potential [2][4] - Astrotech's consolidated balance sheet shows a strong cash position with $20.9 million in cash and liquid investments, down from $31.9 million as of June 30, 2024, supporting ongoing R&D and marketing efforts [6] Financial Performance - For the three months ended March 31, 2025, the company reported a gross profit of $237 thousand, a significant increase from $8 thousand in the same period of the previous year [11] - Operating expenses totaled $4.1 million for Q3 2025, compared to $3.5 million in Q3 2024, leading to a loss from operations of $3.9 million [11] - The net loss for Q3 2025 was $3.6 million, compared to a net loss of $3.2 million in Q3 2024, reflecting ongoing investment in product development and market expansion [11] Recent Developments - Astrotech's subsidiary, 1st Detect, was awarded a research and development contract with the Department of Homeland Security to advance the TRACER 1000 for explosives trace detection [6] - The company established a new subsidiary, EN-SCAN, Inc., to focus on environmental testing applications, further diversifying its product offerings [6] - The TRACER 1000 NTD has been configured to screen for synthetic opiates and novel psychoactive substances, enhancing its capabilities in addressing the global drug crisis [6]

Core Insights - Astrotech Corporation has launched the enhanced TRACER 1000™ Narcotics Trace Detector, which is designed to combat the global drug crisis by accurately screening for synthetic opiates and novel psychoactive substances [1][4]. Product Features - The TRACER 1000 NTD utilizes advanced mass spectrometry technology to detect minute traces of illicit substances, including fentanyl analogs and emerging synthetic drugs, which traditional methods struggle to identify [2][8]. - It offers full-spectrum screening capabilities, high precision and sensitivity, rapid analysis with results in seconds, and a user-friendly interface that minimizes training time for personnel [8]. Industry Context - The product addresses the growing crisis of synthetic opiates and novel psychoactive substances, which are contributing to overdose deaths and challenging public safety [3]. - The TRACER 1000 NTD is positioned as a critical tool for law enforcement, border security, first responders, and public health agencies to enhance safety and security [3][4]. Company Overview - 1st Detect, a subsidiary of Astrotech Corporation, specializes in developing, manufacturing, and selling trace detectors for security and detection markets [6]. - Astrotech Corporation is headquartered in Austin, Texas, and focuses on scalable companies based on innovative mass spectrometry technology [7].

Core Viewpoint - Astrotech Corporation has established a new subsidiary, EN-SCAN, Inc., to manufacture and sell advanced environmental testing instruments utilizing proprietary gas chromatography and mass spectrometry technology, aimed at providing real-time analysis for air, water, and soil [1][2]. Company Overview - EN-SCAN is based in Austin, Texas, and focuses on developing portable environmental testing solutions that integrate gas chromatography and mass spectrometry technology for industrial, environmental, and regulatory applications [4]. - Astrotech Corporation, also headquartered in Austin, Texas, specializes in mass spectrometry and manages scalable companies through its subsidiaries [5]. Product Offerings - The EN-SCAN product line includes: - **Rugged-Lab GC-MS**: A transportable GC-MS for on-site, lab-quality analysis of air, water, and soil, supporting regulatory enforcement and industrial compliance [7]. - **EN-SCAN Fenceline Monitor**: A continuous emissions monitoring system for detecting pollutants like BTEX at refineries and chemical processing plants, providing real-time results [7]. - **EN-SCAN Handheld GC**: A lightweight, portable gas chromatograph for on-site detection of volatile organic compounds and contaminants, suitable for environmental testing and emergency response [7]. Market Context - The environmental testing market has seen significant growth in recent years, creating a demand for durable and rugged instruments capable of performing in outdoor and hazardous environments [2]. - EN-SCAN's solutions are designed to deliver accurate, real-time monitoring, enabling organizations to make data-driven decisions while reducing testing costs and time delays [2]. Event Participation - EN-SCAN will introduce its product line at the Pittcon 2025 conference in Boston, scheduled for March 1-5, 2025, which is a major event for laboratory science showcasing advances in analytical research and scientific instrumentation [3].