Astrotech Corporation announced that its Board of Directors has initiated a formal review of strategic alternatives to maximize shareholder value. The review, launched on November 19 2025, will evaluate options such as raising equity capital, pursuing reverse mergers, pursuing combination transactions, and potentially selling all or part of the business.
The company continues to report a substantial accumulated deficit and persistent net losses. In the third quarter of fiscal 2025, Astrotech recorded a net loss of $3.6 million, up from $3.2 million in the same quarter a year earlier. The full fiscal year 2025 loss totaled $13.85 million, compared with $11.67 million in FY2024. Cash and liquid investments have also declined, falling to $13.9 million by the end of Q1 FY2026 from $20.9 million as of March 31 2025.
Revenue trends illustrate a mixed picture. Q3 FY2025 revenue rose to $534,000 from $50,000 in Q3 FY2024, driven by new contracts in security and environmental testing. However, full‑year FY2025 revenue fell 36.7% to $1.05 million from $1.66 million in FY2024, while Q1 FY2026 revenue surged 773.5% to $297,000, reflecting a small‑base expansion. These figures underscore the company’s ongoing struggle to translate revenue growth into profitability.
CEO Thomas B. Pickens III emphasized that Astrotech remains confident in its differentiated mass spectrometry and gas chromatography technologies and is actively exploring strategic options to scale the business and unlock value for shareholders. He highlighted continued sales efforts and customer relationships while acknowledging the need for a decisive action to address the company’s financial challenges. The announcement was met with a positive market reaction, reflecting investor optimism about potential value‑unlocking transactions.
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