Astrotech Stock Slips After FY21 Results

Astrotech Stock Slips After FY21 Results
  • Astrotech Corp ASTC reported FY21 revenue of $0.334 million, a decrease of 31.6% year-over-year.
  • Loss from operations reduced to $(7.91) million, compared to $(8.11) million a year ago.
  • EPS improved to $(0.35) from $(1.31) in FY20. The gross margin increased by 280 bps to 10.8%.
  • The company had raised a total of $74.3 million in gross proceeds from equity offerings.
  • In August, the company received the first purchase order for the TRACER-1000 to be deployed at an airport security checkpoint.
  • Astrotech held cash and cash equivalents of $63.2 million as of June 30, 2021.
  • The company plans to ramp sales of mass spectrometry instrumentation and explore other strategic opportunities to accelerate growth.
  • Price Action: ASTC shares are trading lower by 4.72% at $1.01 on the last check Monday.

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