AUSTIN, Texas, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the fiscal year ended June 30, 2025. Financial Highlights & Fiscal Year Developments Revenue decreased to $1.0 million as Astrotech’s subsidiary, 1st Detect, sold less devices compared to prior year. Gross margin increased to 45.3% for the year compared to 45.1% in the prior year, due to device sales in fiscal year 2025 having a higher margin compared to t ...

Company Announcement - Astrotech Corporation has appointed Nihanth Badugu as Chief Operating Officer, effective August 13, 2025 [1][2] - The Board expressed confidence in Mr. Badugu's ability to lead operations and drive growth [2] Background of COO - Nihanth Badugu has been with Astrotech since 2023, previously serving as Director of Program Management [2] - He has extensive experience in program management, having worked at Thermo Fisher Scientific and PVA Consulting Group [2] - Mr. Badugu holds a Bachelor of Science degree from York University [2] Company Overview - Astrotech Corporation specializes in mass spectrometry and operates through various wholly owned subsidiaries [3][4] - The subsidiaries focus on specialized markets, including security screening, agriculture, industrial manufacturing, health diagnostics, and environmental testing [6]

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]

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]

Market Overview - The Nasdaq has officially entered bear market territory, falling over 20% from its December peak, with a weekly decline of 8.6% [1] - The Fidelity NASDAQ Composite Index ETF (ONEQ) has slumped 19.1% year-to-date and is down 4% over the past year [1][2] Investor Sentiment - A survey by the American Association of Individual Investors indicates that 62% of respondents expect market declines over the next six months, marking the most pessimistic outlook in over a year [2] Technology Sector Performance - Technology stocks have been significantly impacted, with Apple (AAPL) down 7% on April 4, totaling a 13% loss for the week; NVIDIA (NVDA) also fell 7%, and Tesla (TSLA) dropped 10% [3] - These companies, heavily exposed to China, faced challenges due to retaliatory tariffs from Beijing [3] AI Investment Concerns - There are growing concerns that the investment boom in AI by Big Tech is outpacing demand, exacerbated by competition from Chinese startup DeepSeek, which released a low-cost AI model [4][5] Standout Stocks in Bear Market - Despite the bear market, several stocks in the Nasdaq Composite have shown strong performance: - ThredUp (TDUP) has a year-to-date price change of +86.5% and a one-month change of +11.4% [6][7] - 908 Devices (MASS) has a year-to-date price change of +73.9% and a one-month change of +38% [7][8] - Logility Supply Chain Solutions Inc. (LGTY) has a year-to-date price change of +29.9% [8] - Palomar Holdings (PLMR) has a year-to-date price change of +27.7% and a one-month change of +4.5% [9] - EZCORP (EZPW) has a year-to-date price change of +25.7% and a one-month change of +14.2% [10]