The company struggles with structural profitability, evidenced by a 2026Q3 gross margin of -67.6% and operating expenses that consistently dwarf the $343,000 quarterly revenue base.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 | Jun'97 | Jun'95 |
|---|
| Sales/Revenue | 1.01M | 1.05M | 1.66M | 750K | 869K | 334K | 488K | 127K | 86K | 2.33M | 2.67M | 513K | 16.42M | 24M | 26.14M | 20.15M | 27.98M | 31.98M | 25.54M | 52.76M | 50.75M | 59.4M | 77.61M | 94.96M | 102.77M | 105.25M | 105.71M | 107.7M | 64.1M | 56.6M | 46.1M |
| Revenue Growth % | 11.63% | -36.96% | 121.87% | -13.69% | 160.18% | -31.56% | 284.25% | 47.67% | -96.31% | -12.84% | 420.66% | -96.88% | -31.56% | -8.2% | 29.72% | -27.99% | -12.52% | 25.22% | -51.59% | 3.97% | -14.57% | -23.46% | -18.28% | -7.6% | -2.36% | -0.43% | -1.85% | 68.02% | 13.25% | 22.78% | 5.25% |
| Cost of Goods Sold | 1.9M | 1.73M | 913K | 444K | 677K | 298K | 449K | 90K | 36K | 1.29M | 2.33M | 424K | 10.71M | 15.68M | 18.79M | 13.67M | 12.86M | 15.72M | 19.54M | 51.03M | 46.85M | 47.16M | 45.68M | 78.79M | 81.77M | 92.24M | 79.18M | 81.8M | 29.2M | 23.9M | 14.8M |
| COGS % of Revenue | - | 164.92% | 54.87% | 59.2% | 77.91% | 89.22% | 92.01% | 70.87% | 41.86% | 55.54% | 87.31% | 82.65% | 65.18% | 65.36% | 71.89% | 67.83% | 45.96% | 49.16% | 76.5% | 96.72% | 92.33% | 79.39% | 58.86% | 82.97% | 79.56% | 87.64% | 74.91% | 75.95% | 45.55% | 42.23% | 32.1% |
| Gross Profit | -888K | -681K | 751K | 306K | 192K | 36K | 39K | 37K | 50K | 1.03M | 339K | 89K | 5.72M | 8.31M | 7.35M | 6.48M | 15.12M | 16.26M | 6M | 1.73M | 3.89M | 12.24M | 31.93M | 16.17M | 21.01M | 13.01M | 26.53M | 25.9M | 34.9M | 32.7M | 31.3M |
| Gross Margin % | -88.1% | -64.92% | 45.13% | 40.8% | 22.09% | 10.78% | 7.99% | 29.13% | 58.14% | 44.46% | 12.69% | 17.35% | 34.82% | 34.64% | 28.11% | 32.17% | 54.04% | 50.84% | 23.5% | 3.28% | 7.67% | 20.61% | 41.14% | 17.03% | 20.44% | 12.36% | 25.09% | 24.05% | 54.45% | 57.77% | 67.9% |
| Gross Profit Growth % | - | -190.68% | 145.42% | 59.38% | 433.33% | -7.69% | 5.41% | -26% | -95.17% | 205.31% | 280.9% | -98.44% | -31.2% | 13.11% | 13.38% | -57.14% | -7.02% | 170.85% | 246.45% | -55.46% | -68.22% | -61.65% | 97.43% | -23.01% | 61.45% | -50.95% | 2.42% | -25.79% | 6.73% | 4.47% | 59.91% |
| Operating Expenses | 12.92M | 14.05M | 14.03M | 11.37M | 8.79M | 7.95M | 8.15M | 8.45M | 11.69M | 13.1M | 14.18M | 16.2M | 11.4M | 8.87M | 9.64M | 12.24M | 14.97M | 12.09M | 10.74M | 14.56M | 11.08M | 1.72M | 21.2M | 91.55M | 19.89M | 22.19M | 29.02M | 25.7M | 22.1M | 20.1M | 13.9M |
| OpEx % of Revenue | - | 1339.66% | 843.21% | 1515.47% | 1011.16% | 2379.04% | 1670.7% | 6656.69% | 13597.67% | 562.5% | 530.78% | 3157.89% | 69.4% | 36.97% | 36.87% | 60.73% | 53.5% | 37.8% | 42.03% | 27.6% | 21.84% | 2.89% | 27.32% | 96.41% | 19.35% | 21.08% | 27.45% | 23.86% | 34.48% | 35.51% | 30.15% |
| Selling, General & Admin | 5.94M | 5.91M | 7.24M | 5.78M | 6.01M | 4.74M | 4.72M | 4.88M | 5.63M | 7.51M | 7.71M | 12.97M | 8.89M | 6.79M | 7.07M | 8.4M | 12.17M | 9.76M | 9.15M | 9.88M | 10.67M | 9.38M | 10.91M | 41.17M | 18.74M | 21.8M | 17.83M | 14.6M | 13.7M | 8.6M | 5.4M |
| SG&A % of Revenue | - | 563.49% | 435.16% | 770% | 691.14% | 1419.46% | 966.39% | 3839.37% | 6545.35% | 322.51% | 288.58% | 2527.49% | 54.15% | 28.3% | 27.04% | 41.7% | 43.5% | 30.51% | 35.81% | 18.73% | 21.03% | 15.8% | 14.06% | 43.35% | 18.23% | 20.71% | 16.87% | 13.56% | 21.37% | 15.19% | 11.71% |
| Research & Development | 6.98M | 8.14M | 6.79M | 5.59M | 2.78M | 2.69M | 3.44M | 3.58M | 6.07M | 5.59M | 6.47M | 3.23M | 2.5M | 2.08M | 2.57M | 3.83M | 2.8M | 2.33M | 1.38M | 801K | 410K | 77K | 223K | 118K | 383K | 393K | 2.44M | 3.6M | 2.6M | 1.3M | 100K |
| R&D % of Revenue | - | 776.17% | 408.05% | 745.47% | 320.02% | 805.99% | 704.3% | 2817.32% | 7052.33% | 239.99% | 242.19% | 630.41% | 15.25% | 8.67% | 9.84% | 19.03% | 10% | 7.28% | 5.38% | 1.52% | 0.81% | 0.13% | 0.29% | 0.12% | 0.37% | 0.37% | 2.31% | 3.34% | 4.06% | 2.3% | 0.22% |
| Other Operating Expenses | 0 | 1 | 0 | 0 | 0 | 513K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 213K | 3.88M | 0 | -7.74M | 10.07M | 50.27M | 770K | 0 | 8.75M | 7.5M | 5.8M | 10.2M | 6.2M |
| Operating Income | -13.81M | -14.73M | -13.28M | -11.06M | -8.6M | -7.91M | -8.11M | -8.42M | -13.34M | -12.06M | -13.84M | -16.11M | -5.68M | -559K | -2.29M | -5.75M | 153K | 4.17M | -4.73M | -12.83M | -7.19M | 10.53M | 10.72M | -75.38M | 1.12M | -9.18M | -2.5M | 200K | 12.8M | 12.6M | 17.4M |
| Operating Margin % | -1369.84% | -1404.58% | -798.08% | -1474.67% | -989.07% | -2368.26% | -1662.7% | -6627.56% | -15508.14% | -518.04% | -518.08% | -3140.55% | -34.59% | -2.33% | -8.76% | -28.56% | 0.55% | 13.04% | -18.52% | -24.32% | -14.17% | 17.72% | 13.82% | -79.38% | 1.09% | -8.72% | -2.36% | 0.19% | 19.97% | 22.26% | 37.74% |
| Operating Income Growth % | - | -10.95% | -20.07% | -28.68% | -8.66% | 2.51% | 3.6% | 36.89% | -10.59% | 12.85% | 14.11% | -183.64% | -916.1% | 75.59% | 60.21% | -3861.44% | -96.33% | 188.17% | 63.12% | -78.42% | -168.31% | -1.83% | 114.23% | -6854.48% | 112.16% | -267.86% | -1347.5% | -98.44% | 1.59% | -27.59% | 19.93% |
| EBITDA | -12.58M | -13.58M | -12.41M | -10.57M | -8.36M | -7.71M | -7.92M | -8.15M | -12.57M | -11.33M | -13.27M | -15.79M | -3.37M | 1.56M | -47K | -3.44M | 2.29M | 6.38M | -2.06M | -6.47M | -1.13M | 16.05M | 16.61M | -66M | 14.53M | 1.4M | 6.25M | 7.7M | 18.6M | 22.8M | 25.9M |
| EBITDA Margin % | -1248.31% | -1294.38% | -745.55% | -1409.47% | -961.91% | -2307.49% | -1623.98% | -6416.54% | -14618.6% | -486.64% | -496.67% | -3078.17% | -20.5% | 6.48% | -0.18% | -17.07% | 8.18% | 19.95% | -8.08% | -12.26% | -2.22% | 27.02% | 21.4% | -69.5% | 14.14% | 1.33% | 5.92% | 7.15% | 29.02% | 40.28% | 56.18% |
| EBITDA Growth % | 10.6% | -9.45% | -17.36% | -26.46% | -8.46% | 2.75% | 2.75% | 35.18% | -10.97% | 14.6% | 15.99% | -368.99% | -316.39% | 3410.64% | 98.63% | -250.35% | -64.14% | 409.16% | 68.09% | -472.9% | -107.03% | -3.33% | 125.16% | -554.2% | 941.58% | -77.7% | -18.77% | -58.6% | -18.42% | -11.97% | 78.51% |
| D&A (Non-Cash Add-back) | 1.23M | 1.16M | 874K | 489K | 236K | 203K | 189K | 268K | 765K | 731K | 572K | 320K | 2.31M | 2.12M | 2.24M | 2.31M | 2.13M | 2.21M | 2.67M | 6.36M | 6.06M | 5.53M | 5.88M | 9.38M | 13.41M | 10.57M | 8.75M | 7.5M | 5.8M | 10.2M | 8.5M |
| EBIT | -13.81M | -14.73M | -13.28M | -11.06M | -8.6M | -7.4M | -8.11M | -8.42M | -11.64M | -12.06M | -13.84M | -16.11M | -5.68M | -559K | -2.29M | -5.75M | 153K | 4.84M | -4.73M | -12.83M | -7.19M | 10.53M | 10.72M | -75.38M | 1.12M | -9.18M | -2.5M | 200K | 12.8M | 12.6M | 17.41M |
| Net Interest Income | 0 | 0 | 0 | 0 | -265K | -235K | -197K | 25K | 86K | 306K | 379K | 224K | 11K | -164K | -1.03M | -279K | -459K | -622K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.25M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25K | 86K | 306K | 379K | 0 | 11K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 114.66K |
| Interest Expense | 0 | 0 | 0 | 0 | 265K | 235K | 197K | 0 | 0 | 0 | 0 | 224K | 0 | 164K | 1.03M | 279K | 459K | 622K | 427K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.36M |
| Other Income/Expense | -280K | 886K | 1.62M | 1.42M | 265K | 307K | -197K | 25K | 86K | 306K | 379K | 224K | -182K | -164K | -1.03M | -279K | -459K | 43K | -30.62M | -3.53M | -5.17M | -5.42M | -8.14M | -7.25M | -5.53M | -4.49M | -3.11M | -3.3M | -700K | 1M | -1.36M |
| Pretax Income | -14.09M | -13.85M | -11.66M | -9.64M | -8.33M | -7.6M | -8.31M | -8.39M | -13.25M | -11.75M | -13.46M | -15.89M | -5.86M | -723K | -3.32M | -6.03M | -306K | 4.21M | -35.35M | 16.36M | -12.37M | 5.1M | 2.58M | -82.63M | -4.42M | -13.67M | -5.61M | -3.1M | 12.1M | 13.6M | 16M |
| Pretax Margin % | -1397.62% | -1320.11% | -700.96% | -1285.6% | -958.57% | -2276.35% | -1703.07% | -6607.87% | -15408.14% | -504.9% | -503.89% | -3096.88% | -35.69% | -3.01% | -12.69% | -29.95% | -1.09% | 13.18% | -138.4% | 31.01% | -24.37% | 8.59% | 3.33% | -87.01% | -4.3% | -12.99% | -5.3% | -2.88% | 18.88% | 24.03% | 34.71% |
| Income Tax | 2K | 2K | 2K | 0 | 0 | 0 | 0 | -858K | 86K | 2K | -25K | -5.94M | 6K | 0 | 17K | -53K | 22K | -510K | 675K | -69K | 32K | -146K | 506K | -857K | -2.05M | -886K | -1.76M | -500K | 2.5M | 3M | 200K |
| Effective Tax Rate % | -0.01% | -0.01% | -0.02% | 0% | 0% | 0% | 0% | 10.22% | -0.65% | -0.02% | 0.19% | 37.4% | -0.1% | 0% | -0.51% | 0.88% | -7.19% | -12.1% | -1.91% | -0.42% | -0.26% | -2.86% | 19.6% | 1.04% | 46.41% | 6.48% | 31.43% | 16.13% | 20.66% | 22.06% | 1.25% |
| Net Income | -14.09M | -13.85M | -11.67M | -9.64M | -8.33M | -7.6M | -8.31M | -7.53M | -13.25M | -11.58M | -13.1M | 10.78M | -4.96M | -185K | -2.71M | -4.98M | 260K | 4.72M | -36.03M | -16.29M | -12.4M | 5.25M | 2.08M | -81.78M | -2.37M | -12.79M | -3.84M | -2.6M | 9.6M | 13.9M | 15.8M |
| Net Margin % | -1397.82% | -1320.31% | -701.08% | -1285.6% | -958.57% | -2276.35% | -1703.07% | -5932.28% | -15408.14% | -497.51% | -490.27% | 2100.97% | -30.2% | -0.77% | -10.38% | -24.73% | 0.93% | 14.77% | -141.04% | -30.88% | -24.43% | 8.84% | 2.67% | -86.11% | -2.3% | -12.15% | -3.64% | -2.41% | 14.98% | 24.56% | 34.27% |
| Net Income Growth % | -1.52% | -18.72% | -20.99% | -15.75% | -9.56% | 8.52% | -10.31% | 43.14% | -14.41% | 11.55% | -221.5% | 317.3% | -2581.08% | 93.18% | 45.55% | -2016.54% | -94.5% | 113.11% | -121.14% | -31.42% | -336.18% | 152.96% | 102.54% | -3354.8% | 81.49% | -232.6% | -47.85% | -127.08% | -30.94% | -12.03% | 82.91% |
| Net Income (Continuing) | -14.09M | -13.85M | -11.67M | -9.64M | -8.33M | -7.6M | -8.31M | -7.53M | -13.25M | -11.76M | -13.43M | -9.95M | -6.33M | -723K | -3.33M | -5.98M | -328K | 4.72M | -36.03M | -16.29M | -12.4M | 5.25M | 2.08M | -81.78M | -2.37M | -12.79M | -3.84M | -2.6M | 9.6M | 10.6M | 15.81M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -40K | 299K | 1.8M | 2.79M | 2.73M | 1.92M | 2.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 750K | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -8.41 | -8.32 | -7.12 | -5.95 | -5.24 | -10.38 | -40.22 | -45.75 | -97.89 | -85.08 | -96.34 | 78.00 | -38.18 | -1.44 | -21.95 | -41.94 | 1.50 | 42.00 | -583.97 | -1892.22 | -1459.33 | 555.00 | 225.00 | -9984.74 | -298.79 | -1682.24 | -511.51 | -348.71 | 1260.00 | 1860.00 | 3555.00 |
| EPS Growth % | -0.48% | -16.85% | -19.66% | -13.55% | 49.52% | 74.19% | 12.09% | 53.26% | -15.06% | 11.69% | -223.51% | 304.3% | -2551.39% | 93.44% | 47.66% | -2896% | -96.43% | 107.19% | 69.14% | -29.66% | -362.94% | 146.67% | 102.25% | -3241.73% | 82.24% | -228.88% | -46.69% | -127.68% | -32.26% | -47.68% | 83.72% |
| EPS (Basic) | - | -8.32 | -7.12 | -5.95 | -5.24 | -10.38 | -40.22 | -45.75 | -97.89 | -85.09 | -96.34 | 78.00 | -38.18 | -1.50 | -21.95 | -41.94 | 3.00 | 43.50 | -583.97 | -1892.22 | -1459.33 | 630.00 | 255.00 | -9984.74 | -298.79 | -1682.24 | -511.51 | -348.71 | 1290.00 | 1860.00 | 3555.00 |
| Diluted Shares Outstanding | 1.68M | 1.67M | 1.64M | 1.62M | 1.59M | 732.8K | 211.53K | 164.67K | 135.37K | 136.13K | 135.92K | 132.07K | 129.91K | 128.85K | 123.63K | 118.81K | 121.89K | 112.69K | 61.7K | 8.61K | 8.49K | 9.46K | 9.43K | 8.19K | 7.92K | 7.6K | 7.51K | 7.46K | 9.71K | 7.44K | 4.45K |
| Basic Shares Outstanding | 1.68M | 1.67M | 1.64M | 1.62M | 1.59M | 732.8K | 211.53K | 164.67K | 135.37K | 136.12K | 135.92K | 132.07K | 129.91K | 123.33K | 123.63K | 118.81K | 110.45K | 109.1K | 61.7K | 8.61K | 8.49K | 8.41K | 8.3K | 8.19K | 7.92K | 7.6K | 7.51K | 7.46K | 7.44K | 7.41K | 4.45K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | 21.63% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Inability to achieve scale
As reported in recent financial filings, Astrotech's revenue remains highly erratic, with a 35.8% year-over-year decline in 2026Q3, underscoring the absence of a repeatable sales model and the company's continued reliance on sporadic, project-based hardware deliveries rather than a sustainable, recurring revenue stream.
The lack of consistent top-line growth suggests that the company's core technology platforms have yet to achieve meaningful market penetration. Investors should monitor whether the current revenue lumpiness is a permanent feature of the business model or a temporary byproduct of ongoing regulatory certification delays.
Based on the provided income statement data, the company's gross margin has frequently dipped into negative territory, reaching -67.6% in 2026Q3, which indicates that the cost of goods sold consistently exceeds the revenue generated from its specialized mass spectrometry hardware offerings.
This margin profile suggests a fundamental inability to absorb fixed manufacturing overhead at current production volumes. Without a significant increase in unit sales, the company appears trapped in a cycle where every additional sale potentially exacerbates the overall operating loss.
According to historical income statements, Astrotech maintains a rigid cost structure where R&D and SG&A expenses consistently dwarf quarterly revenue, with R&D alone reaching $1.4 million in 2026Q3 against a revenue base of only $343,000, highlighting a severe lack of operational expense discipline.
The company's cost structure appears decoupled from its commercial output, suggesting that the business is functioning more as an R&D incubator than a commercial enterprise. This persistent spending level warrants further investigation into the long-term viability of the current burn rate relative to available capital.
Analysis of the income statement suggests that the market's valuation of Astrotech may be disconnected from its financial reality, as the company has failed to demonstrate a path to profitability or consistent revenue growth over the last ten quarters of reported financial performance.
Short-term observers may focus on the potential for IP licensing, but the financials indicate that the core business model is currently value-destructive. The absence of a clear inflection point in the data suggests that the company remains a high-risk venture play rather than a stable industrial participant.
Quick answers to the most common questions about buying ASTC stock.
For fiscal year 2025, Astrotech Corporation (ASTC) reported total revenue of $1.0M. This represents a 97.7% decline compared to $46.1M in 1995.
Astrotech Corporation (ASTC) reported a net loss of $13.8M for the fiscal year ending 2025.
Astrotech Corporation (ASTC) reported an operating income of $-14.7M, resulting in an operating profit margin of -1404.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Astrotech Corporation (ASTC) generated $-0.7M in gross profit for the year, representing a gross profit margin of -64.9%. This demonstrates the company's core pricing power and production efficiency.