Astrotech (US:ASTC)2024-11-12 21:50Financial Performance - Astrotech reported a revenue of $34,000 for the first quarter of fiscal year 2025, a decrease from $425,000 in the same period last year[9]. - Astrotech's net loss for the quarter was $3,278,000, compared to a net loss of $2,912,000 in the prior year[9]. - Astrotech's total operating expenses for the quarter were $3,637,000, compared to $3,518,000 in the same quarter last year[9]. - The company's operating expenses increased by $119,000 or 3.3%, primarily due to increased participation in trade events[2]. - Astrotech's accumulated deficit increased to $240,298,000 as of September 30, 2024, from $237,020,000 at the end of June 2024[11]. Cash and Assets - Cash and cash equivalents decreased to $6,518,000 from $10,442,000 at the end of the previous quarter[10]. - The total assets of Astrotech as of September 30, 2024, were $34,449,000, down from $37,640,000 at the end of June 2024[10]. - The company has $28.3 million in cash and liquid investments to support research and development and potential acquisitions[5]. Product Development and Approvals - 1st Detect's TRACER 1000 has been approved for the Air Cargo Security Technology List, advancing it to Stage II testing[4]. - The company is conducting field trials with the TSA for the TRACER 1000, which could lead to it being added to the "qualified" list if successful[4].