Explosives detector maker Astrotech's FY revenue declines, net loss widens

By Reuters News


Overview

  • US mass spectrometry firm's fiscal yr revenue declined, operating expenses fell 6%

  • Net loss for fiscal yr widened compared to previous yr

  • Company launched lunar infrastructure initiative targeting resource and computing development


Outlook

  • Company says it is focused on converting pipeline opportunities into revenue growth in the new year

  • Astrotech to evaluate and potentially develop lunar infrastructure technologies through its new subsidiary


Result Drivers

  • PRODUCT LAUNCHES - Co said results reflected investment in new products including Labrador handheld gas chromatograph and TRACER 1000 deployment

  • OPERATING EXPENSES - Operating expenses fell 6% yr-on-yr, mainly due to lower research and development costs

  • LUNAR INITIATIVE - Co launched lunar infrastructure initiative, but it remains in evaluation and development stage


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

FY Revenue

$913,000

FY Loss Per Share

$8.49

FY Net Loss

$14.43 mln

FY Gross Profit

$217,000

FY Operating Expenses

$14.36 mln


Reuters Recommended Reads

  • Sept 23 - Space investment more than doubled to $23 billion in year to June, report says


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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