Astrotech (ASTC) - 2024 Q4 - Annual Results

Revenue Growth - Revenue for the fiscal year 2024 increased to $1.7 million, up from$750,000 in the prior year, representing a growth of approximately 126.67%[1] - Gross margin improved to 45% for the year compared to 41% in the previous period, attributed to a higher proportion of recurring revenue[1] Product Development and Market Opportunities - The TRACER1000 received approval from the U.S. Transportation Security Administration for the Air Cargo Security Technology List, allowing sales to air cargo companies in the U.S.[2] - The TSA had over 6,000 explosives trace detection units at checkpoints, indicating a significant market opportunity for the TRACER 1000[3] - 1st Detect began accepting orders for the TRACER 1000 Narcotics Trace Detector, enhancing its product offerings in various security markets[4] - The AgLAB MVP™ process control system can increase potency yields and revenue by 20% or more, showcasing the effectiveness of the AMS Technology[7] Financial Performance - Astrotech's consolidated balance sheet shows $31.9 million in cash and cash equivalents, supporting research and development and potential acquisitions[7] - Total operating expenses for the fiscal year were$14.03 million, up from 11.37 million in the previous year, reflecting increased investment in R&D and SG&A[13] - The net loss for the fiscal year 2024 was 11.67 million, compared to a net loss of $9.64 million in the prior year, indicating ongoing challenges in profitability[13] - Stockholders' equity decreased to$34.81 million from $44.72 million, primarily due to accumulated deficits and comprehensive losses[16]