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]

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]