Astrotech Corporation
Astrotech Announces Significant Revenue Increase for Q2 FY 2024
Summary
On February 12, 2024, Astrotech Corporation announced its financial results for the second quarter of fiscal year 2024, showing a 512% increase in year-to-date revenue to $1,540 thousand, primarily driven by successful delivery of TRACER 1000 explosive trace detectors to customers in Romania. The company's gross margin increased to 46% from 38% in the prior year, and it maintains a strong balance sheet with $37 million in cash and liquid investments. Additionally, 1st Detect reentered testing with the TSA for cargo security, and the company launched its Pro-Control subsidiary focusing on chemical manufacturing process control applications.
Profitelligence Alerts
Get alerts for ASTC
Be first to know when Astrotech Corporation files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
About Astrotech Corporation
Astrotech Corporation is a diversified technology company engaged in the development and commercialization of science-driven solutions. The primary function of Astrotech is to innovate and create advanced technologies for industries such as aerospace, biotechnology, and industrial applications. One of the key areas where the company makes an impact is in the field of chemical detection, where it offers sophisticated equipment and systems designed to identify molecular compounds in security and environmental settings. The corporation is also involved in the production of mass spectrometers, contributing significantly to scientific research and safety-oriented environments. Headquartered in Austin, Texas, Astrotech Corporation plays a strategic role in the market by bridging the gap between scientific research and practical, real-world applications, making it a notable entity in the tech and industrial sectors.
Official SEC Documents
Advertisement