ASTROTECH Corp. Files 2024 10-K: $2.5M Assets, $1.7M Liabilities
Ticker: ASTC · Form: 10-K · Filed: Sep 20, 2024 · CIK: 1001907
Sentiment: neutral
Topics: 10-K, financials, assets, liabilities
TL;DR
ASTROTECH Corp. 2024 10-K: $2.5M assets, $1.7M liabilities. FY ends 06/30.
AI Summary
ASTROTECH Corp. filed its 10-K for the fiscal year ending June 30, 2024, reporting total assets of $2.5 million and total liabilities of $1.7 million. The company's net revenue for the period was not explicitly stated but its operating expenses were $280,898. ASTROTECH Corp. is incorporated in Delaware and its principal business address is in Austin, Texas.
Why It Matters
This filing provides a snapshot of ASTROTECH Corp.'s financial health as of June 30, 2024, detailing its assets and liabilities, which are crucial for investors and creditors to assess the company's stability and performance.
Risk Assessment
Risk Level: medium — The company has significantly more liabilities than assets, indicating potential financial strain.
Key Numbers
- $2.5B — Total Assets (Represents the company's total resources as of June 30, 2024.)
- $1.7B — Total Liabilities (Indicates the company's total obligations as of June 30, 2024.)
- $280,898 — Operating Expenses (Costs incurred in the normal course of business for the fiscal year.)
Key Players & Entities
- ASTROTECH Corp. (company) — Filer of the 10-K
- 20240630 (date) — Fiscal year end date
- $2,500,000 (dollar_amount) — Total assets
- $1,712,045 (dollar_amount) — Total liabilities
- 280,898 (dollar_amount) — Operating expenses
- Austin, Texas (location) — Company business address
FAQ
What was ASTROTECH Corp.'s net revenue for the fiscal year ending June 30, 2024?
The provided filing excerpt does not explicitly state ASTROTECH Corp.'s net revenue for the fiscal year ending June 30, 2024.
What is the company's primary industry classification?
ASTROTECH Corp. is classified under 'LABORATORY ANALYTICAL INSTRUMENTS' with SIC code 3826.
What is the company's state of incorporation?
ASTROTECH Corp. is incorporated in Delaware (DE).
What were the company's total current liabilities as of June 30, 2024?
The filing indicates total current liabilities were $1,681,729 as of June 30, 2024.
What is the company's filing history regarding name changes?
ASTROTECH Corp. was formerly known as SPACEHAB INC until October 6, 1995, and its name was changed on March 10, 2009.
Filing Stats: 4,434 words · 18 min read · ~15 pages · Grade level 14.6 · Accepted 2024-09-20 08:45:50
Key Financial Figures
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Filing Documents
- astc20240630_10k.htm (10-K) — 1700KB
- ex_685079.htm (EX-4.1) — 60KB
- ex_723047.htm (EX-10.9) — 11KB
- ex_723048.htm (EX-10.10) — 38KB
- ex_723049.htm (EX-10.11) — 24KB
- ex_723132.htm (EX-10.15) — 19KB
- ex_685080.htm (EX-21.1) — 6KB
- ex_685081.htm (EX-23.1) — 3KB
- ex_725013.htm (EX-23.2) — 3KB
- ex_685082.htm (EX-31.1) — 14KB
- ex_685083.htm (EX-31.2) — 14KB
- ex_685084.htm (EX-32.1) — 7KB
- ex_685085.htm (EX-32.2) — 7KB
- ex_723046.htm (EX-97.1) — 39KB
- armanino01.jpg (GRAPHIC) — 3KB
- clevelandlogo.jpg (GRAPHIC) — 5KB
- logo.jpg (GRAPHIC) — 10KB
- 0001437749-24-029650.txt ( ) — 8291KB
- astc-20240630.xsd (EX-101.SCH) — 66KB
- astc-20240630_cal.xml (EX-101.CAL) — 60KB
- astc-20240630_def.xml (EX-101.DEF) — 409KB
- astc-20240630_lab.xml (EX-101.LAB) — 415KB
- astc-20240630_pre.xml (EX-101.PRE) — 461KB
- astc20240630_10k_htm.xml (XML) — 1316KB
Business
Item 1. Business 7
Risk Factors
Item 1A. Risk Factors 25
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 44
Cybersecurity
Item 1C. Cybersecurity 44
Properties
Item 2. Properties 45
Legal Proceedings
Item 3. Legal Proceedings 45
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 46 PART II 46
Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 46
Reserved
Item 6. Reserved 46
Management ' s Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 46
Quantitative and Qualitative Disclosures About Market Risk
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 54
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 55
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 81
Controls and Procedures
Item 9A. Controls and Procedures 81
Other Information
Item 9B. Other Information 82 PART III 82
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 82
Executive Compensation
Item 11. Executive Compensation 82
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 82
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 82
Principal Accounting Fees and Services
Item 14. Principal Accounting Fees and Services 82 PART IV 83
Exhibits, Financial Statement Schedules
Item 15. Exhibits, Financial Statement Schedules 83
Form 10-K Summary
Item 16. Form 10-K Summary 86
SIGNATURES
SIGNATURES 87 4 Table of Contents
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS This Form 10-K contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws. Forward-looking statements may include the words "may," "will," "plans," "believes," "estimates," "expects," "intends" and other similar expressions. Such statements are subject to risks and uncertainties that could cause our actual results to differ materially from those projected in the statements. Such risks and uncertainties include, but are not limited to: The adverse impact of recent inflationary pressures, including significant increases in fuel costs, global economic conditions and events related to these conditions, including the ongoing war in Ukraine and the COVID-19 pandemic; Our ability to successfully pursue our business plan and execute our strategy, including our collaboration with Cleveland Clinic; The effect of economic and political conditions in the United States or other nations that could impact our ability to sell our products and services or gain customers; Product demand and market acceptance risks, including our ability to develop and sell products and services to be used by governmental or commercial customers; The impact of trade barriers imposed by the U.S. government, such as import/export duties and restrictions, tariffs and quotas, and potential corresponding actions by other countries in which we conduct our business; Technological difficulties and potential legal claims arising from any technological difficulties; The risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging, and transportation; Uncertainty in government funding and support for key programs, grant opportunities, or procurem
Business
Item 1. Business Our Company The terms "Astrotech", "the Company", "we", "us", or "our" refer to Astrotech Corporation (Nasdaq: ASTC), a Delaware corporation organized in 1984. Our use of "products" and "devices" refer to the TRACER 1000, BreathTest-1000, AGLAB 1000, and Pro-Control 1000 along with related accessories and consumables. We are commercializing the Astrotech Mass Spectrometer Technology platform ("AMS Technology") through application specific, wholly owned subsidiaries. Our mission is to expand access to mass spectrometry ("MS") and its use through the deployment of devices designed specifically for the appropriate levels of precision required in high-volume, real-time testing environments such as airports, border checkpoints, cargo hubs, infrastructure security, correctional facilities, military bases, law enforcement centers, and industrial locations. We achieve our mission through simplifying the user interface, automating the complicated calibration process, ruggedizing the critical components to endure MS field work, and enabling multiple configurations for sample intake options. Since the Tracer 1000 was certified by the European Civil Aviation Conference ("ECAC") in 2019, our customers have deployed our devices in approximately 30 locations across 14 countries throughout Europe and Asia. Our Business Units Our efforts are focused on commercializing our platform mass spectrometry technology through our wholly-owned subsidiaries: Astrotech Technologies, Inc. ("ATI") owns and licenses the intellectual property related to the AMS Technology. 1 st Detect Corporation ("1 st Detect") is a manufacturer of explosives trace detectors ("ETDs") and narcotics trace detectors ("NTDs") developed for use in security and detection at airports, border checkpoints, cargo hubs, infrastructure security, correctional facilities, military bases, and law enforcement centers. 1 st Detect holds an exclusive AMS Technology license from ATI for air passenger an