Last10K.com

Astrotech Corp (ASTC) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Astrotech Corp

CIK: 1001907 Ticker: ASTC

 

 

Exhibit 99.1

 

 

ASTROTECH REPORTS FIRST QUARTER OF

FISCAL YEAR 2022 FINANCIAL RESULTS

 

Austin, Texas November 12, 2021 – Astrotech Corporation (Nasdaq: ASTC) reported its financial results for the first quarter of fiscal year 2022, which ended September 30, 2021.

The first quarter of fiscal year 2022 saw a continued increase in commercial sales of 1st Detect’s TRACER 1000™, the first and only mass spectrometry-based explosives trace detector (ETD) certified for air and cargo security. This quarter, 1st Detect achieved a significant milestone whereby we received our first purchase order for the TRACER 1000 to be deployed at an international airport security checkpoint for passenger screening. Following installation, the TRACER 1000 will now be operating in twenty locations in thirteen countries throughout Europe and Asia.

This quarter, Astrotech completed the build-out of its new research and development facility in Austin, Texas, consolidating our operations into a single facility. We also completed production of our first batch of TRACER 1000 instruments with Sanmina, a leading global contract manufacturer. Sanmina has already helped us reduce cost of the TRACER 1000 and we have leveraged their expertise to improve manufacturability and reliability of our systems. Together, we continue to look for additional opportunities for further improvements.

Meanwhile, the market for the AgLAB-1000™ series of instruments continues to show promise while development accelerates with the hiring of hemp and cannabis industry veteran and mass spectrometry expert, Joe Levinthal, as AgLAB’s Chief Science Officer. Our recent attendance at MJBizcon, one of the hemp and cannabis industry’s premier events, has furthered our expectation that there is opportunity to enhance the efficiency of hemp and cannabis production, and to provide self-managed compliance testing in real time for processors.  

Finally, BreathTech is expecting to begin human trials of its BreathTest-1000™ with the Cleveland Clinic in the first calendar quarter, taking us one step closer to entering the battle against COVID-19.

“Now that we have completed the consolidation of our operations in Austin, Texas and fully transitioned manufacturing to Sanmina, we are in a good position to focus on our growth. The air cargo market continues to expand, we are beginning to get interest from the checkpoint market as air travel continues to rebound, we are nearing a product launch at AgLAB, and we are beginning human trials at BreathTech in the near-term. With development of our core technology complete and a strong balance sheet to capitalize on our promising existing and future market opportunities, we are excited about the prospects for the company,” stated Thomas B. Pickens III, Chairman and Chief Executive Officer of Astrotech Corporation.

First Quarter Fiscal Year 2022 Highlights

Management continues efforts to accelerate growth and optimize our resources.

Astrotech’s balance sheet remains strong for our expected future growth with $59 million in cash and liquid investments.

For the first quarter fiscal year 2022, commercial sales related to the TRACER 1000 are up to $187 thousand, representing an increase of 34% from one year ago.

 


The following information was filed by Astrotech Corp (ASTC) on Friday, November 12, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Astrotech Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Astrotech Corp.

Continue

Assess how Astrotech Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Astrotech Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Revenue
Financial
Other
Filter Subcategory:
All
Product
Shares
Debt
Expense
Income
Other
Inside Astrotech Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Changes In Stockholders' Equity (Deficit)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Business Risk And Credit Risk Concentration Involving Cash
Business Risk And Credit Risk Concentration Involving Cash - Additional Information (Details)
Commitments And Contingencies
Debt
Debt - Additional Information (Details)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Summary Of Carrying Amounts, Estimated Fair Values, And Valuation Input Levels Of Certain Financial Instruments (Details)
General Information
General Information (Policies)
General Information - Additional Information (Details)
Impact Of Covid-19 Pandemic
Income Taxes
Income Taxes - Additional Information (Details)
Investments
Investments (Tables)
Investments - Schedule Of Available-For-Sale Securities (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Schedule Of Balance Sheet Presentation Of Operating And Finance Leases (Details)
Leases - Schedule Of Future Minimum Lease Payments (Details)
Leases - Schedule Of Other Information (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Additional Information (Details)
Net Loss Per Share - Schedule Of Computations Of Basic And Diluted Net Loss Per Share (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Additional Information (Details)
Property And Equipment - Schedule Of Property And Equipment, Net (Details)
Revenue Recognition
Revenue Recognition - Additional Information (Details)
Segment Information
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Schedule Of Restricted Stock Activity (Details)
Stock-Based Compensation - Schedule Of Stock Option Activity (Details)
Stock-Based Compensation - Schedule Of Stock Options Outstanding (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Schedule Of Warrants Outstanding (Details)
Stockholders' Equity - Summary Of Common Stock Warrant Activity (Details)
Subsequent Events
Subsequent Events - Additional Information (Details)

Material Contracts, Statements, Certifications & more

Astrotech Corp provided additional information to their SEC Filing as exhibits

Ticker: ASTC
CIK: 1001907
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-21-056676
Submitted to the SEC: Fri Nov 12 2021 3:04:23 PM EST
Accepted by the SEC: Fri Nov 12 2021
Period: Thursday, September 30, 2021
Industry: Laboratory Analytical Instruments

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/astc/0001564590-21-056676.htm