Astrotech Corporation
Astrotech Reports Third Quarter FY2024 Financial Results
Summary
Astrotech Corporation reported its financial results for the third quarter of fiscal year 2024, which ended March 31, 2024. The company recorded a total revenue of $50,000 for the quarter and $1.59 million for the nine months ended March 31, 2024, with a year-to-date gross margin of 45%. The company announced new unit sales of the TRACER 1000 explosive trace detector and new sales of consumables, leading to increased revenue. Its consolidated balance sheet showed strong liquidity with $34.7 million in cash and liquid investments. The company also announced new product developments and acceptance of its TRACER 1000 by the U.S. General Services Administration.
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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
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