Astrotech Reports Second Quarter of Fiscal Year 2026 Financial Results

Core Insights - Astrotech Corporation reported positive momentum in its sales pipeline for fiscal year 2026, particularly in mass spectrometry and gas chromatography solutions, which are increasingly valued in the explosives and narcotics trace detection markets [2][4] - The company has appointed new leadership, including an Interim Chief Financial Officer and a Director of Global Sales, to support sustained revenue growth and global expansion [2] Financial Performance - For the second quarter of fiscal year 2026, revenue was $148 million, a decrease from $261 million in the same quarter of the previous year [8] - Gross profit for the quarter was $8 million, down from $155 million year-over-year [8] - Research and development expenses decreased by 25% to $1,832 thousand compared to the second quarter of fiscal year 2025 [4][8] - The net loss for the quarter was $3,927 thousand, compared to a net loss of $4,009 thousand in the same quarter of the previous year [8] Operational Highlights - The TRACER 1000 trace detection system has been deployed in approximately 35 locations across 16 countries, enhancing the company's global footprint [4] - Astrotech's subsidiaries focus on specialized markets, including security and narcotics screening, agricultural product processing, industrial manufacturing, and health condition detection [5] Balance Sheet Overview - As of December 31, 2025, total assets were $19,696 thousand, a decrease from $26,989 thousand as of June 30, 2025 [11][12] - Current liabilities totaled $1,898 thousand, down from $2,451 thousand at the end of the previous fiscal period [11][12] - Stockholders' equity was reported at $15,518 thousand, a decline from $22,100 thousand [12]