ASTROTECH Corp Files 10-Q for Period Ending March 31, 2024
Ticker: ASTC · Form: 10-Q · Filed: May 14, 2024 · CIK: 1001907
Sentiment: neutral
Topics: 10-Q, ASTROTECH Corp, SEC Filing, Financial Report, Laboratory Instruments
TL;DR
<b>ASTROTECH Corp has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>
AI Summary
ASTROTECH Corp (ASTC) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. ASTROTECH Corp filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on June 30. The filing is dated May 14, 2024. ASTROTECH Corp is in the Laboratory Analytical Instruments industry (SIC 3826). The company's principal business address is in Austin, TX.
Why It Matters
For investors and stakeholders tracking ASTROTECH Corp, this filing contains several important signals. This filing provides investors with an update on ASTROTECH Corp's financial performance and operational status for the most recent quarter. As a public company, ASTROTECH Corp is required to submit regular filings like this 10-Q to ensure transparency and compliance with SEC regulations.
Risk Assessment
Risk Level: low — ASTROTECH Corp shows low risk based on this filing. The filing is a standard 10-Q, indicating routine reporting rather than an event-driven disclosure, thus posing low immediate risk.
Analyst Insight
Review the detailed financial statements and management discussion within the 10-Q to assess ASTROTECH Corp's current financial health and future outlook.
Key Numbers
- 2024-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
- 2024-05-14 — Filing Date (FILED AS OF DATE)
- 0630 — Fiscal Year End (FISCAL YEAR END)
- 3826 — Standard Industrial Classification (STANDARD INDUSTRIAL CLASSIFICATION)
Key Players & Entities
- ASTROTECH Corp (company) — FILER
- ASTROTECH Corp (company) — COMPANY CONFORMED NAME
- DE (location) — STATE OF INCORPORATION
- AUSTIN (location) — CITY
- TX (location) — STATE
- SPACEHAB INC (company) — FORMER COMPANY
FAQ
When did ASTROTECH Corp file this 10-Q?
ASTROTECH Corp filed this Quarterly Report (10-Q) with the SEC on May 14, 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 May 14, 2024. Key takeaways: ASTROTECH Corp filed a 10-Q report for the period ending March 31, 2024.. The company's fiscal year ends on June 30.. The filing is dated May 14, 2024..
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 standard 10-Q, indicating routine reporting rather than an event-driven disclosure, thus posing low immediate risk.
What should investors do after reading ASTROTECH Corp's 10-Q?
Review the detailed financial statements and management discussion within the 10-Q to assess ASTROTECH Corp's current financial health and future outlook. The overall sentiment from this filing is neutral.
How does ASTROTECH Corp compare to its industry peers?
ASTROTECH Corp operates within the Laboratory Analytical Instruments sector, which involves the design, manufacturing, and sale of scientific instruments used for analysis and measurement.
Are there regulatory concerns for ASTROTECH Corp?
As a publicly traded company, ASTROTECH Corp is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.
Industry Context
ASTROTECH Corp operates within the Laboratory Analytical Instruments sector, which involves the design, manufacturing, and sale of scientific instruments used for analysis and measurement.
Regulatory Implications
As a publicly traded company, ASTROTECH Corp is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.
What Investors Should Do
- Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended March 31, 2024.
- Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into performance drivers and trends.
- Check for any new risk factors or updates to existing ones disclosed in the filing.
Key Dates
- 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
- 2024-05-14: Filing Date — Date the 10-Q report was officially submitted to the SEC.
Year-Over-Year Comparison
This is a 10-Q filing, providing a quarterly update. A comparison to the previous quarter's 10-Q or the prior year's 10-Q would be necessary for a detailed 'vs last filing' analysis.
Filing Stats: 4,744 words · 19 min read · ~16 pages · Grade level 16.2 · Accepted 2024-05-14 08:45:39
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share ASTC NASDAQ Sto
Filing Documents
- astc20240331_10q.htm (10-Q) — 1141KB
- ex_630354.htm (EX-31.1) — 13KB
- ex_630355.htm (EX-31.2) — 13KB
- ex_630356.htm (EX-32.1) — 7KB
- logo.jpg (GRAPHIC) — 11KB
- 0001437749-24-016375.txt ( ) — 5692KB
- astc-20240331.xsd (EX-101.SCH) — 52KB
- astc-20240331_cal.xml (EX-101.CAL) — 44KB
- astc-20240331_def.xml (EX-101.DEF) — 317KB
- astc-20240331_lab.xml (EX-101.LAB) — 305KB
- astc-20240331_pre.xml (EX-101.PRE) — 352KB
- astc20240331_10q_htm.xml (XML) — 910KB
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 21 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 29 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 29 PART II: OTHER INFORMATION 29 ITEM 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 29 ITEM 1A.
RISK FACTORS
RISK FACTORS 29 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 29 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 29 ITEM 4. MINE SAFETY DISCLOSURES 29 ITEM 5. OTHER INFORMATION 29 ITEM 6. EXHIBITS 30 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) March 31, June 30, 2024 2023 (Unaudited) (Note) Assets Current assets Cash and cash equivalents $ 8,487 $ 14,208 Short-term investments 26,196 27,919 Accounts receivable 201 225 Inventory, net: Raw materials 1,734 1,379 Work-in-process 251 243 Finished goods 359 373 Income tax receivable — 1 Prepaid expenses and other current assets 274 365 Total current assets 37,502 44,713 Property and equipment, net 2,516 2,670 Operating lease right-of-use assets, net 155 262 Other assets, net 30 30 Total assets $ 40,203 $ 47,675 Liabilities and stockholders' equity Current liabilities Accounts payable 612 546 Payroll related accruals 900 633 Accrued expenses and other liabilities 644 1,170 Lease liabilities, current 289 316 Total current liabilities 2,445 2,665 Accrued expenses and other liabilities, net of current portion 95 — Lease liabilities, net of current portion 92 291 Total liabilities 2,632 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 March 31, 2024 and June 30, 2023 — — Common stock, $ 0.001 par value, 250,000,000 shares authorized at March 31, 2024 and June 30, 2023, respectively; 1,712,045 and 1,692,045 shares issued at March 31, 2024 and June 30, 2023, respectively; 1,701,729 and 1,681,729 outstanding at March 31, 2024 and June 30, 2023, respectively 190,643 190,643 Treasury shares, 10,316 at March 31, 2024 and June 30, 2023, respectively ( 119 ) ( 119 ) Additional paid-in capital 82,277 81,002 Accumulated deficit ( 234,061 ) ( 225,354 ) Accumulated other comprehensive loss ( 1,169 ) ( 1,453 ) Total stockholders' equity 37,571 44,7