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ASTC Astrotech

Astrotech Corp. engages in the provision of science and technology development and commercialization businesses. It operates through the following segments: 1st Detect Corporation and Astral Images Corporation. The 1st Detect Corporation segment refers to the development of TRACER for use at airports, secured facilities and borders worldwide. The Astral Images Corporation segment includes the development of film restoration and enhancement software. The company was founded in 1984 and is headquartered in Austin, TX.

Company profile

Ticker
ASTC
Exchange
CEO
Thomas Boone Pickens
Employees
Incorporated
Location
Fiscal year end
Former names
ASTROTECH Corp \WA\, SPACEHAB INC \WA\
SEC CIK
IRS number
911273737

ASTC stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

14 May 21
28 Jul 21
30 Jun 22
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 20 Jun 19 Jun 18 Jun 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Astrotech earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 32.02M 32.02M 32.02M 32.02M 32.02M 32.02M
Cash burn (monthly) (positive/no burn) (positive/no burn) 801K 685.67K 788.67K 569.92K
Cash used (since last report) n/a n/a 3.13M 2.68M 3.08M 2.23M
Cash remaining n/a n/a 28.88M 29.34M 28.93M 29.79M
Runway (months of cash) n/a n/a 36.1 42.8 36.7 52.3

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 21 Wilkinson Thomas Wiley Common Stock Grant Aquire A No No 0 5,708 0 87,874
1 Apr 21 Ronald W Cantwell Common Stock Grant Aquire A No No 0 5,708 0 75,278
1 Apr 21 Daniel T Russler Jr Common Stock Grant Aquire A No No 0 5,708 0 71,579
26 Mar 21 Rajesh K Mellacheruvu Stock Options Common Stock Grant Aquire A No No 5 50,000 250K 117,671
26 Mar 21 Daniel T Russler Jr Common Stock Grant Aquire A No No 2.02 30,000 60.6K 65,871

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

5.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 16 2 +700.0%
Opened positions 15 2 +650.0%
Closed positions 1 8 -87.5%
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 5.6M 2.37M +136.3%
Total shares 2.45M 1.1M +123.2%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 759.08K $1.66M NEW
Vanguard 567.22K $1.24M NEW
Intracoastal Capital 465.12K $1.25M 0.0%
Bradley Foster & Sargent 353.33K $774K NEW
Geode Capital Management 197.93K $433K NEW
Citadel Advisors 43.08K $94K NEW
MS Morgan Stanley 23K $50K NEW
NTRS Northern Trust 20.41K $45K NEW
Squarepoint Ops 11.93K $26K NEW
ExodusPoint Capital Management 10.3K $23K NEW
Largest transactions
Shares Bought/sold Change
BLK Blackrock 759.08K +759.08K NEW
Sabby Management 0 -634.3K EXIT
Vanguard 567.22K +567.22K NEW
Bradley Foster & Sargent 353.33K +353.33K NEW
Geode Capital Management 197.93K +197.93K NEW
Citadel Advisors 43.08K +43.08K NEW
MS Morgan Stanley 23K +23K NEW
NTRS Northern Trust 20.41K +20.41K NEW
Squarepoint Ops 11.93K +11.93K NEW
ExodusPoint Capital Management 10.3K +10.3K NEW

Financial report summary

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Risks
  • We have incurred significant losses since inception and anticipate that we will incur continued losses for the foreseeable future.
  • We could face risks related to the potential outcomes of SEC inquiries, including potential regulatory action or private litigation, potential penalties, damages or other remedies that could be imposed on us, substantial legal costs and expenses, significant management distraction, and potential reputational damage that we could suffer as a result of adverse findings resulting from any SEC inquiry.
  • Our business units are in development stage. They have earned limited revenues and it is uncertain whether they will earn any revenues in the future or whether any of them will ultimately be profitable.
  • Our cash and cash equivalents may not be sufficient to fund our operating expenses, capital equipment requirements, and other expected liquidity requirements.
  • Our success depends significantly on the establishment and maintenance of successful relationships with our customers.
  • Third parties may claim we are infringing their intellectual property rights, and we could suffer significant litigation or licensing expenses or be prevented from selling products.
  • Our ongoing success is dependent upon the continued availability of certain key employees.
  • Our operating results may be adversely affected by increased competition.
  • Our insurance coverage may be inadequate to cover all significant risk exposures.
  • Increased cybersecurity requirements, vulnerabilities, threats, and more sophisticated and targeted computer crime could pose a risk to our systems, networks, products, services, and data.
  • Our facilities located in Houston are susceptible to damage caused by hurricanes or other natural disasters.
  • If we are unable to anticipate technological advances and customer requirements in the commercial and governmental markets, our business and financial condition may be adversely affected.
  • We incur substantial upfront, non-reimbursable costs in preparing proposals to bid on contracts or to receive research and development grants that we may not be awarded.
  • A failure of a key information technology system, process, or site could have a material adverse impact on our ability to conduct business.
  • A sale of a substantial number of shares of the common stock may cause the price of our common stock to decline.
  • We are a smaller reporting company and, as a result of the reduced disclosure and governance requirements applicable to such companies, our common stock may be less attractive to investors.
  • We are required to evaluate the effectiveness of our internal control over financial reporting on an annual basis and publicly disclose any material weaknesses in our controls. Any adverse results from such evaluation could result in a loss of investor confidence in our financial reports and significant expense to remediate, and ultimately could have an adverse effect on our stock price.
  • We can sell additional shares of common stock without consulting shareholders and without offering shares to existing shareholders, which would result in dilution of shareholders’ interests in the Company and could depress our stock price.
  • Our products and operations are subject to extensive governmental regulation, and failure to comply with applicable requirements could cause our business to suffer.
  • Failure to obtain clearance or authorization for the BreathTest-1000, or other delays in the development of the BreathTest-1000, would adversely affect our ability to grow our business.
  • FDA’s policy with respect to Emergency Use Authorizations is evolving and may limit the ability for medical products, including the BreathTest-1000, to be eligible for commercialization under an Emergency Use Authorization.
  • Modifications to our products may require new 510(k) clearances, de novo submissions, or pre‑market approvals, or may require us to cease marketing or recall the modified products until clearances are obtained.
  • If we or our third‑party suppliers fail to comply with the FDA’s good manufacturing practice regulations or fail to adequately, timely, or sufficiently respond to an FDA Form 483 or subsequent Warning Letter, this could impair our ability to market our products in a cost‑effective and timely manner and could result in FDA enforcement action.
  • A recall of our product, or the discovery of serious safety issues with our product, could have a significant adverse impact on us.
  • We may be liable if the FDA or other U.S. enforcement agencies determine we have engaged in the off‑label promotion of our products or have disseminated false or misleading labeling or promotional materials.
  • Legislative or regulatory healthcare reforms may make it more difficult and costly for us to obtain reimbursement for our products or regulatory clearance or approval of our future products, and to produce, market and distribute those products after clearance or approval is obtained.
Management Discussion
  • Revenue – Total revenue decreased $64 thousand during the third quarter of fiscal 2021, compared to the third quarter of fiscal 2020. All of the revenue generated in the third quarters of fiscal 2021 and 2020 was related to the sales of our TRACER 1000. The decrease in revenue was caused by pandemic-related delays in the delivery of certain microchips used in the production of our TRACER 1000 systems. This supply chain issue has since been resolved.
  • Cost of Revenue – Gross profit is comprised of revenue less cost of revenue. In the third quarters of fiscal 2021 and 2020, cost of revenue was comprised of labor, materials, shipping, warranty reserve, and overhead related to the sale of TRACER 1000 units. Gross margin increased to 15% in the third quarter fiscal 2021, compared to the third quarter of fiscal 2020. We expect that gross margin will continue to improve as we increase production and benefit from associated volume discounts, and as we further refine our technology.
  • Operating Expenses – Operating expenses increased $341 thousand, or 17%, during the third quarter of fiscal 2021, compared to the third quarter of fiscal 2020. Significant changes to operating expenses include the following:
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