Astrotech Reports Second Quarter of Fiscal Year 2025 Financial Results

Financial Highlights - Astrotech Corporation reported Q2 fiscal year 2025 revenue of $295 thousand, primarily from activities supporting the U.S. Department of Homeland Security (DHS) [6] - The company’s consolidated balance sheet shows$24.7 million in cash and cash equivalents, supporting research and development, organic growth, and potential acquisitions [6] Recent Developments - The company is focusing on selling and marketing portable mass spectrometry instruments, with proven products in explosive trace detection used in 14 countries [3] - Astrotech introduced the TRACER NTD, a narcotics trace detector capable of identifying fentanyl and other drugs with high accuracy [3] - A research and development contract was awarded to 1st Detect Corporation by DHS for the TRACER 1000, aimed at next-generation explosives trace detection [6] Financial Performance - For the three months ended December 31, 2024, revenue was $261 thousand, a decrease from$1,115 thousand in the same period of 2023 [9] - The company reported a net loss of $4,009 thousand for the three months ended December 31, 2024, compared to a net loss of$2,641 thousand in the same period of 2023 [9] - Total operating expenses for the three months ended December 31, 2024, were $4,476 thousand, up from$3,600 thousand in the same period of 2023 [9] Company Overview - Astrotech Corporation specializes in mass spectrometry technology through its subsidiaries, including 1Detect, AgLAB, Pro-Control, and BreathTech [4] - The company is headquartered in Austin, Texas, and focuses on scalable companies based on innovative core technology [4]