- Astrotech (ASTC, Financial) reported a revenue increase of 968% in Q3 FY2025, with earnings of $534,000 compared to $50,000 in Q3 FY2024.
- The company secured a $429,000 purchase order for its TRACER 1000â„¢ from Intuitive Research, a TSA contractor.
- Cash reserves decreased significantly from $31.9 million in June 2024 to $20.9 million by March 2025.
Astrotech Corporation (ASTC) has reported its financial results for the third quarter of fiscal year 2025, showcasing a substantial increase in revenue to $534,000, marking a significant rise from the $50,000 reported during the same period in the previous year. This growth reflects a 968% increase, driven primarily by TRACER 1000â„¢ shipments, government contracts, and recurring revenue streams.
A key development for Astrotech was the receipt of a $429,000 purchase order from Intuitive Research and Technology Corporation, a prominent TSA contractor, for its TRACER 1000â„¢ Explosives Trace Detectors (ETDs). This order accounts for roughly 80% of the quarter's revenue, indicating a significant win, albeit with potential revenue concentration risk.
However, the company faces challenges, as its cash and investments have decreased from $31.9 million at the end of June 2024 to $20.9 million as of March 2025, indicating substantial cash burn. At the current expenditure rate, the company has an estimated financial runway of approximately 5 to 6 quarters without additional funding or a substantial increase in revenue.
Astrotech is expanding its product offerings and market presence through the creation of EN-SCAN, Inc., a subsidiary focused on environmental testing services, and the configuration of the TRACER 1000 NTD for synthetic opiate detection. Their products are now utilized in 15 countries, broadening their market reach in explosive trace detection and beyond.
