From GlobeNewswire: 2024-09-19 17:30:00

Astrotech Corporation reported revenue increase to $1.7 million, with a gross margin of 45%. TSA approved the TRACER 1000 for Air Cargo Security Technology List, advancing it to Stage II testing. 1st Detect started accepting orders for TRACER 1000 Narcotics Trace Detector globally and it’s now registered with GSA IT Schedule 70.

Astrotech formed Pro-Control, a subsidiary to utilize Astrotech Mass Spectrometer Technology. They entered into a master lease agreement with SC Laboratories to market AgLAB 1000-D2 mass spectrometer and AgLAB Maximum Value Process testing method. Astrotech showcased AgLAB MVP at MJBizcon to enhance potency and revenue by 20% using AMS Technology.

Astrotech maintains a strong balance sheet with $31.9 million in cash. They aim to expand access to mass spectrometry through simplification and customization. Despite challenges from global conditions, Astrotech believes in the growth potential of their products and services in the target markets. Financial results show a net loss in the fiscal year.



Read more at GlobeNewswire:: Astrotech Reports Fiscal Year 2024 Financial Results