Astrotech Corporation
Astrotech Reports Fiscal Year 2024 Financial Results
Summary
On September 19, 2024, Astrotech Corporation announced its financial results for the fiscal year ended June 30, 2024. The company reported a revenue increase to $1.7 million, a gross margin increase to 45%, and a net loss of $11.7 million. Key developments include the TSA approval of the TRACER 1000 for air cargo security, the registration of TRACER 1000 NTD and ETD with the U.S. GSA, and the formation of a new subsidiary, Pro-Control. The company's consolidated balance sheet showed $31.9 million in cash and cash equivalents.
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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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