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Astrotech Corporation (ASTC-3.42%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing a decrease in revenue to $261,000 from $1,115,000 in the same quarter the previous year. The decrease is attributed to selling fewer devices during the quarter.
Cost of revenue for the quarter was $106,000, leading to a gross profit of $155,000, compared to $532,000 in the previous year. The gross margin increased to 59% from 48% in the previous year.
Operating expenses increased to $4,476,000 from $3,600,000, primarily due to increased research and development expenses.
The company reported a net loss of $4,009,000 for the quarter, compared to a net loss of $2,641,000 in the previous year.
Cash and cash equivalents at the end of the period were $3,161,000, down from $10,442,000 at the beginning of the period.
Astrotech continues to focus on commercializing its Astrotech Mass Spectrometer Technology™ platform through its subsidiaries, including 1st Detect Corporation, AgLAB Inc., and BreathTech Corporation.
The filing also details various financial activities, including a decrease in cash used in operating activities to $6,730,000 from $4,850,000 in the previous year.
Astrotech does not anticipate any material changes to its liquidity and operating capital requirements in the near future.
The company has identified no significant changes in its internal controls over financial reporting during the quarter.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Astrotech Corporation quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.