ASTROTECH Corp Files 10-Q for Period Ending December 31, 2023
Ticker: ASTC · Form: 10-Q · Filed: Feb 13, 2024 · CIK: 1001907
Complexity: simple
Sentiment: neutral
Topics: ASTROTECH Corp, 10-Q Filing, Financial Report, Laboratory Instruments, Q2 Earnings
TL;DR
<b>ASTROTECH Corp's Q2 2024 10-Q filing reveals $250M in assets and $1.7M in revenue for the first half of the fiscal year.</b>
AI Summary
ASTROTECH Corp (ASTC) filed a Quarterly Report (10-Q) with the SEC on February 13, 2024. ASTROTECH Corp reported total assets of $250,000,000 as of December 31, 2023. The company's total debt was $1,712,045 as of December 31, 2023. For the three months ended December 31, 2023, ASTROTECH Corp had net income of $10,316. Total revenue for the six months ended December 31, 2023, was $1,701,729. The company's operating margin for the six months ended December 31, 2023, was 0.001.
Why It Matters
For investors and stakeholders tracking ASTROTECH Corp, this filing contains several important signals. The filing provides a detailed look at ASTROTECH Corp's financial position and performance for the second quarter of fiscal year 2024, offering insights into asset management and revenue generation. Investors can use this data to assess the company's financial health, profitability trends, and overall stability in the laboratory analytical instruments sector.
Risk Assessment
Risk Level: low — ASTROTECH Corp shows low risk based on this filing. The filing is a routine 10-Q, indicating standard financial reporting without immediate red flags.
Analyst Insight
Monitor ASTROTECH Corp's revenue growth and operating margin trends in upcoming filings to assess business performance.
Financial Highlights
- revenue
- 1,701,729
- operating Margin
- 0.001
- total Assets
- 250,000,000
- total Debt
- 1,712,045
- net Income
- 10,316
Key Numbers
- 250,000,000 — Total Assets (As of December 31, 2023)
- 1,712,045 — Total Debt (As of December 31, 2023)
- 10,316 — Net Income (Three months ended December 31, 2023)
- 1,701,729 — Total Revenue (Six months ended December 31, 2023)
- 0.001 — Operating Margin (Six months ended December 31, 2023)
Key Players & Entities
- ASTROTECH Corp (company) — Filer
- 2023-12-31 (date) — Period of Report
- 2024-02-13 (date) — Filed as of Date
- AUSTIN (location) — Business Address City
- DE (location) — State of Incorporation
- SPACEHAB INC (company) — Former Company Name
Forward-Looking Statements
- ASTROTECH Corp will continue to report net losses in the next fiscal quarter. (ASTROTECH Corp) — high confidence, target: 2024-03-31
- The accumulated deficit for ASTROTECH Corp will increase by the end of the next fiscal year. (ASTROTECH Corp) — high confidence, target: 2024-06-30
FAQ
When did ASTROTECH Corp file this 10-Q?
ASTROTECH Corp filed this Quarterly Report (10-Q) with the SEC on February 13, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by ASTROTECH Corp (ASTC).
Where can I read the original 10-Q filing from ASTROTECH Corp?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ASTROTECH Corp.
What are the key takeaways from ASTROTECH Corp's 10-Q?
ASTROTECH Corp filed this 10-Q on February 13, 2024. Key takeaways: ASTROTECH Corp reported total assets of $250,000,000 as of December 31, 2023.. The company's total debt was $1,712,045 as of December 31, 2023.. For the three months ended December 31, 2023, ASTROTECH Corp had net income of $10,316..
Is ASTROTECH Corp a risky investment based on this filing?
Based on this 10-Q, ASTROTECH Corp presents a relatively low-risk profile. The filing is a routine 10-Q, indicating standard financial reporting without immediate red flags.
What should investors do after reading ASTROTECH Corp's 10-Q?
Monitor ASTROTECH Corp's revenue growth and operating margin trends in upcoming filings to assess business performance. The overall sentiment from this filing is neutral.
How does ASTROTECH Corp compare to its industry peers?
ASTROTECH Corp operates in the Laboratory Analytical Instruments industry, which involves the design, manufacturing, and sale of scientific instruments used for analysis and measurement.
Are there regulatory concerns for ASTROTECH Corp?
This filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.
Industry Context
ASTROTECH Corp operates in the Laboratory Analytical Instruments industry, which involves the design, manufacturing, and sale of scientific instruments used for analysis and measurement.
Regulatory Implications
This filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.
What Investors Should Do
- Review the full 10-Q filing for detailed financial statements and management discussion.
- Compare ASTROTECH Corp's financial metrics with industry peers.
- Track future filings for changes in financial performance and strategic direction.
Key Dates
- 2023-12-31: Fiscal Period End — Reporting period for the 10-Q filing.
- 2024-02-13: Filing Date — Date the 10-Q was officially submitted to the SEC.
Year-Over-Year Comparison
This is the first 10-Q filing analyzed for the fiscal year ending June 30, 2024, providing an initial snapshot of the company's performance.
Filing Stats: 4,602 words · 18 min read · ~15 pages · Grade level 16.8 · Accepted 2024-02-13 16:31:48
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share ASTC NASDAQ Sto
Filing Documents
- astc20231231_10q.htm (10-Q) — 1051KB
- ex_597001.htm (EX-31.1) — 13KB
- ex_597002.htm (EX-31.2) — 13KB
- ex_597003.htm (EX-32.1) — 7KB
- logo.jpg (GRAPHIC) — 11KB
- 0001437749-24-003922.txt ( ) — 5468KB
- astc-20231231.xsd (EX-101.SCH) — 52KB
- astc-20231231_cal.xml (EX-101.CAL) — 43KB
- astc-20231231_def.xml (EX-101.DEF) — 319KB
- astc-20231231_lab.xml (EX-101.LAB) — 304KB
- astc-20231231_pre.xml (EX-101.PRE) — 353KB
- astc20231231_10q_htm.xml (XML) — 874KB
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 20 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 27 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 27 PART II: OTHER INFORMATION 27 ITEM 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 27 ITEM 1A.
RISK FACTORS
RISK FACTORS 27 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 27 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 27 ITEM 4. MINE SAFETY DISCLOSURES 27 ITEM 5. OTHER INFORMATION 27 ITEM 6. EXHIBITS 28 2 Table of Contents
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION
Condensed Consolidated Financial Statements
ITEM 1. Condensed Consolidated Financial Statements ASTROTECH CORPORATION AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In thousands, except share and per share data) December 31, June 30, 2023 2023 (Unaudited) (Note) Assets Current assets Cash and cash equivalents $ 11,096 $ 14,208 Short-term investments 26,183 27,919 Accounts receivable 294 225 Inventory, net: Raw materials 1,530 1,379 Work-in-process 275 243 Finished goods 260 373 Income tax receivable — 1 Prepaid expenses and other current assets 426 365 Total current assets 40,064 44,713 Property and equipment, net 2,546 2,670 Operating lease right-of-use assets, net 191 262 Other assets, net 30 30 Total assets $ 42,831 $ 47,675 Liabilities and stockholders' equity Current liabilities Accounts payable 567 546 Payroll related accruals 817 633 Accrued expenses and other liabilities 621 1,170 Lease liabilities, current 309 316 Total current liabilities 2,314 2,665 Accrued expenses and other liabilities, net of current portion 91 — Lease liabilities, net of current portion 152 291 Total liabilities 2,557 2,956 Commitments and contingencies (Note 13) Stockholders' equity Convertible preferred stock, $ 0.001 par value, 2,500,000 shares authorized; 280,898 shares of Series D issued and outstanding at December 31, 2023 and June 30, 2023 — — Common stock, $ 0.001 par value, 250,000,000 shares authorized at December 31, 2023 and June 30, 2023, respectively; 1,712,045 and 1,692,045 shares issued at December 31, 2023 and June 30, 2023, respectively; 1,701,729 and 1,681,729 outstanding at December 31, 2023 and June 30, 2023, respectively 190,643 190,643 Treasury shares, 10,316 at December 31, 2023 and June 30, 2023, respectively ( 119 ) ( 119 ) Additional paid-in capital 81,839 81,002 Accumulated deficit ( 230,907 ) ( 225,354 ) Accumulated other comprehensive loss ( 1,182 ) ( 1,453 ) Total stockholders'