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Astrotech (ASTC)

Astrotech is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology in order to maximize shareholder value. 1st Detect develops, manufactures, and sells trace detectors for use in the security and detection market. AgLAB is developing chemical analyzers for use in the agriculture market. BreathTech is developing a breath analysis tool to provide early detection of lung diseases. Astrotech is headquartered in Austin, Texas.

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
Subsidiaries
1) Spacehab Orbital Transportation, Inc. • 2) Astrogenetix, Inc. • 3) 1st Detect Corporation • 4) Agriculture Technology Corporation • 5) Medikinetix, Inc. • 6) Astral Images Corporation • 7) Astrotech Technologies, Inc. • 8) BreathTech Corporation • 9) AgLAB Inc. ...
IRS number
911273737

ASTC stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

13 May 22
12 Aug 22
30 Jun 23
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jun 21 Jun 20 Jun 19 Jun 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 28.35M 28.35M 28.35M 28.35M 28.35M 28.35M
Cash burn (monthly) 608K 305.83K 715.67K 701.58K 560K 643.25K
Cash used (since last report) 2.68M 1.35M 3.15M 3.09M 2.47M 2.83M
Cash remaining 25.67M 27M 25.2M 25.26M 25.88M 25.51M
Runway (months of cash) 42.2 88.3 35.2 36.0 46.2 39.7

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Jul 22 Wilkinson Thomas Wiley Common Stock Grant Acquire A No No 0 29,070 0 273,990
22 Jul 22 James Frank Becker Common Stock Grant Acquire A No No 0 4,845 0 54,845
22 Jul 22 Daniel T Russler Jr Common Stock Grant Acquire A No No 0 29,070 0 207,695
15 Apr 22 Eric Stober Common Stock Sale back to company Dispose D No No 2.02 233,332 471.33K 219,963
12.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 19 16 +18.8%
Opened positions 6 5 +20.0%
Closed positions 3 5 -40.0%
Increased positions 1 3 -66.7%
Reduced positions 6 1 +500.0%
13F shares Current Prev Q Change
Total value 3.74M 4.02M -6.9%
Total shares 6.52M 4.54M +43.5%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
BML Investment Partners 2.59M $0 NEW
Vanguard 1.55M $1.12M -4.9%
BLK Blackrock 727.5K $525K -0.8%
Intracoastal Capital 465.12K $1.25M 0.0%
Geode Capital Management 369.54K $266K 0.0%
Marquette Asset Management 276.68K $199K NEW
STT State Street 155.96K $112K 0.0%
Renaissance Technologies 88.6K $64K -79.9%
NTRS Northern Trust 83.59K $60K 0.0%
VIRT Virtu Financial 77.49K $56K NEW
Largest transactions Shares Bought/sold Change
BML Investment Partners 2.59M +2.59M NEW
MS Morgan Stanley 19 -529.19K -100.0%
Renaissance Technologies 88.6K -352.42K -79.9%
Marquette Asset Management 276.68K +276.68K NEW
Vanguard 1.55M -79.74K -4.9%
VIRT Virtu Financial 77.49K +77.49K NEW
UBS UBS Group AG - Registered Shares 0 -32.05K EXIT
Citadel Advisors 27.34K +27.34K NEW
Millennium Management 20.83K +20.83K NEW
Two Sigma Advisers 66.2K -12.9K -16.3%

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.
  • 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.
  • We may not be able to successfully develop the BreathTest-1000 or any other new products or services.
  • We face various risks related to health epidemics, pandemics and similar outbreaks, which may have material adverse effects on our business, financial position, results of operations, and/or cash flows.
  • 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 Austin 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.
  • Significant safety concerns could arise for our BreathTest-1000 product, which could have a material adverse effect on our future revenues and financial condition.
  • 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 by $154 thousand, or 32%, to $334 thousand for the fiscal year ended June 30, 2021, compared to $488 thousand for the fiscal year ended June 30, 2020. Substantially all of the fiscal year 2021 and 2020 revenue was from the sales of our TRACER 1000 units to DHL (Deutsche Post AG). 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. Even though production has resumed, we continue to see impacts to the supply chain from the microchip shortages.
  • Cost of Revenue and Gross Profit – Cost of revenue is comprised of labor, materials, shipping, warranty reserve, and overhead allocation. Gross profit is comprised of revenue less cost of revenue. Cost of revenue decreased $151 thousand, or 34%, for the fiscal year ended June 30, 2021, compared to the year ended June 30, 2020. Gross profit decreased $3 thousand and gross margin increased 3% during the fiscal year ended June 30, 2021, compared to the year ended June 30, 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 – Our operating expenses decreased $207 thousand, or 3%, during the fiscal year ended June 30, 2021, compared to the fiscal year ended June 30, 2020. Significant changes to operating expenses include the following:

Content analysis

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H.S. sophomore Avg
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Removed: generated, incorporated, reference