Latest news with #EN-SCAN
Business Upturn
4 days ago
- Business
- Business Upturn
Astrotech Announces Deployment of EN-SCAN Devices to Transform Instant, On-Site Environmental Field Monitoring
AUSTIN, Texas, Aug. 15, 2025 (GLOBE NEWSWIRE) — — Astrotech Corporation ('Astrotech' or the 'Company') (NASDAQ: ASTC) announced today that it has introduced its new EN-SCAN product line ('EN-SCAN') of ultra-portable rugged environmental testing instruments, featuring its proprietary ATi Gas Chromatograph Column ('GC') and ATi Mass Spectrometer Technology™ ('MS') through its wholly owned subsidiary, EN-SCAN, Inc. By deploying EN-SCAN devices from Astrotech, customers gain access to real-time results and on-demand reporting, enabling continuous monitoring and immediate response in critical applications such as environmental compliance, refining, manufacturing, emergency response, and industrial hygiene. 'Traditional GC and MS field monitoring requires sample collection, transport to expensive remote labs, then often days or even weeks to get results due to backlog — by which time the data is outdated and often less actionable,' said Thomas Pickens, CEO of Astrotech, the manufacturer of EN-SCAN. 'EN-SCAN eliminates that delay by delivering real-time environmental testing through a rugged, field-deployable GC-MS system available at the point of need. With EN-SCAN, threats that once went undetected for days due to delays in results can now be identified in minutes, supporting more proactive, informed, and timely interventions.' EN-SCAN instruments combine advanced GC and MS technology with rugged, portable design—delivering lab-grade accuracy in the most demanding environments. Purpose-built to address rapidly growing demand for real-time air, water, and soil analysis, EN-SCAN provides high-precision, in-field monitoring and instant alerts for faster, safer, data-driven decision-making while significantly reducing testing costs and delays. EN-SCAN devices can be preloaded with a library of thousands of chemical signatures, offering near-instant identification, while new or custom signatures can be added with ease. This flexibility unlocks a wide range of use cases — such as real-time fence-line monitoring at chemical plants, rapid disaster response, contamination tracking and emergency safety assessments. With a focus on real-time analytics, ease of use, and cost efficiency, EN-SCAN empowers organizations to make faster, data-driven decisions. The EN-SCAN product lineup includes three specialized environmental testing solutions, each tailored for distinct field applications: EN-SCAN Rugged-Lab GC-MS – A transportable GC-MS system that delivers laboratory-quality analysis of air, water, and soil directly at the site. This product supports regulatory enforcement, industrial compliance, and scientific fieldwork. – A transportable GC-MS system that delivers laboratory-quality analysis of air, water, and soil directly at the site. This product supports regulatory enforcement, industrial compliance, and scientific fieldwork. EN-SCAN Fenceline Monitor – A continuous emissions monitoring system designed to detect volatile organic compounds such as BTEX compounds (benzene, toluene, ethylbenzene, and xylenes) at refineries and chemical processing facilities. This product provides real-time results that can deliver actionable alerts for plant managers and regulators. The system is compatible with the EPA's updated HON Rule, helping facilities meet stringent emissions standards efficiently. – A continuous emissions monitoring system designed to detect volatile organic compounds such as BTEX compounds (benzene, toluene, ethylbenzene, and xylenes) at refineries and chemical processing facilities. This product provides real-time results that can deliver actionable alerts for plant managers and regulators. The system is compatible with the EPA's updated HON Rule, helping facilities meet stringent emissions standards efficiently. EN-SCAN Handheld GC – A lightweight, portable gas chromatograph engineered for rapid, on-site detection of volatile organic compounds and environmental contaminants in air, soil, and water. This product is a lightweight handheld instrument for field-based environmental testing, site remediation, and emergency response scenarios. 'Whether it's monitoring fenceline emissions at a chemical facility or safeguarding first responders' safety in a disaster zone, rugged GC and MS technology is a transformative tool for identifying, assessing, and addressing environmental threats,' said Thomas Pickens, CEO of Astrotech. 'Astrotech is proud to be the first to deliver a fully programmable, rugged, field-ready implementation of this advanced technology—featuring the latest detection capabilities and one of the most comprehensive chemical signature libraries available.' About EN-SCAN Based in Austin, Texas, EN-SCAN develops advanced environmental testing and monitoring solutions, integrating gas chromatography and mass spectrometry technology in rugged, portable designs. Its products support industrial, environmental, and regulatory applications, helping organizations meet compliance requirements and environmental safety. For information, visit or contact [email protected]. About Astrotech Corporation Astrotech Corporation is a mass spectrometry company that creates, operates, and scales innovative businesses through its wholly owned subsidiaries. Each subsidiary leverages Astrotech's core technology to serve specialized markets: 1st Detect develops, manufactures, and markets trace detection systems for security and narcotics screening applications. develops, manufactures, and markets trace detection systems for security and narcotics screening applications. AgLAB designs process analyzers tailored to the agriculture industry. designs process analyzers tailored to the agriculture industry. Pro-Control produces solutions for in-situ chemical process control in industrial manufacturing. produces solutions for in-situ chemical process control in industrial manufacturing. BreathTech is advancing a breath analysis platform to detect volatile organic compounds (VOCs) associated with infections and critical health conditions. is advancing a breath analysis platform to detect volatile organic compounds (VOCs) associated with infections and critical health conditions. EN-SCAN, Inc. delivers portable, ruggedized environmental testing solutions that integrate gas chromatography and mass spectrometry for use in challenging field environments. Astrotech is headquartered in Austin, Texas. To learn more, visit Forward-Looking Statements This press release contains 'forward-looking statements' that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These statements may be identified by terms such as 'aims,' 'anticipates,' 'believes,' contemplates,' 'continue,' 'could,' 'estimates,' 'expect,' 'forecast,' 'guidance,' 'intends,' 'may,' 'plans,' 'possible,' 'potential,' 'predicts,' 'preliminary,' 'projects,' 'seeks,' 'should,' 'targets,' 'will' or 'would,' or the negatives of these terms, variations of these terms or other similar expressions. These factors include, but are not limited to, the adverse impact of inflationary pressures, including significant increases in fuel costs, global economic conditions and events related to these conditions, including the ongoing wars in Ukraine and the middle east and the COVID-19 pandemic, the Company's use of proceeds from the common stock offerings, whether we can successfully complete the development of our new products and proprietary technologies, whether we can obtain the FDA and other regulatory approvals required to market our products under development in the United States or abroad, whether the market will accept our products and services and whether we are successful in identifying, completing and integrating acquisitions, as well as other risk factors and business considerations described in the Company's Securities and Exchange Commission filings including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements in this document should be evaluated in light of these important risk factors. While we do not intend to directly harvest, manufacture, distribute or sell cannabis or cannabis products, we may be detrimentally affected by a change in enforcement by federal or state governments and we may be subject to additional risks in connection with the evolving regulatory area and associated uncertainties. Any such effects may give rise to risks and uncertainties that are currently unknown or amplify others mentioned herein. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. In addition, any forward- looking statements included in this press release represent the Company's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to correct or update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Company Contact: Jennifer CañasChief Financial Officer, Astrotech Corporation (512) 485-9530
Yahoo
13-05-2025
- Business
- Yahoo
Astrotech Reports Third Quarter of Fiscal Year 2025 Financial Results
AUSTIN, Texas, May 13, 2025 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the 'Company' or 'Astrotech') reported its financial results for the third quarter of fiscal year 2025, which ended March 31, 2025. Thomas B. Pickens, III, Astrotech's Chairman, Chief Executive Officer and Chief Technology Officer, said, 'Our customizable, portable and field updatable mass spectrometry instruments have the potential to be a game changer in a growing list of large end markets such as airport security and cargo scanning, narcotics detection, environmental monitoring and chemical processing. I am very proud of our team's accomplishments, as we now have launched four product lines that we believe will expand our sales opportunities to potential customers from around the world. We have been serving airports worldwide with 1st Detect's explosive trace detection products in 15 countries having earned a valuable track record for delivering and maintaining our instruments.' Pickens continued, 'Our Pro-Control product line now includes in-situ process controls for automatic chemical manufacturing optimization. Decisions are progressing and many quotes are pending, and we are very encouraged with the testing we have completed with some of the largest chemical and petrochemical companies. We are currently focused on selling and marketing all our brands. With our newest product lines, the TRACER NTD, Pro-Control, and EN-SCAN we believe we have created great momentum in fiscal year 2025 and into fiscal year 2026 and are very excited about our future.' Financial Highlights & Recent Developments Fiscal year 2025 Q3 revenue of $534 thousand, compared to $50 thousand in fiscal year 2024 Q3, is comprised of TRACER 1000™ shipments, a government grant, and recurring consumable sales and maintenance services. On January 14, 2025, our 1st Detect subsidiary announced that it was awarded research and development contract 70RSAT24CB0000015 with the Department of Homeland Security ('DHS') to research, develop and mature the TRACER 1000 for DHS next generation explosives trace detection. On January 23, 2025, we announced that 1st Detect received a $429 thousand purchase order for its TRACER 1000™ ETDs from Intuitive Research and Technology Corporation, a TSA contractor, which was fulfilled and recognized as revenue during the three months ended March 31, 2025. On February 28, 2025, the Company announced that it had created a new wholly owned subsidiary, EN-SCAN, Inc., to manufacture and sell a new line of instruments built for environmental testing applications using its proprietary ATi Gas Chromatograph and Astrotech Mass Spectrometer Technology™. On March 10, 2025, we announced the TRACER 1000 NTD has been configured to screen for a range of synthetic opiates and novel psychoactive substances delivering accuracy and speed to counter the global drug crisis. Astrotech's consolidated balance sheet remains strong with $20.9 million in cash, cash equivalents and liquid investments to support the Company's completion of R&D projects and transition into a selling and marketing focused company. Cash, cash equivalents and liquid investments were $31.9 million at June 30, 2024. About Astrotech Corporation Astrotech (Nasdaq: ASTC) is a mass spectrometry company that launches, manages, and commercializes scalable companies based on its innovative core technology through its wholly owned subsidiaries. 1st Detect develops, manufactures, and sells trace detectors for use in the security and narcotics detection market. AgLAB develops and sells process analyzers for use in the agriculture market. Pro-Control produces products for the in-situcontrol of the chemical manufacturing processes. BreathTech is developing a breath analysis tool to screen for volatile organic compounds that could indicate infections or critical conditions. EN-SCAN, Inc. develops advanced environmental testing and monitoring solutions, integrating gas chromatography and mass spectrometry technology in rugged, portable designs for rugged environments. Astrotech is headquartered in Austin, Texas. For information, please visit Forward-Looking Statements This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, the adverse impact of inflationary pressures, including significant increases in fuel costs, global economic conditions and events related to these conditions, including the ongoing wars in Ukraine and the middle east and the COVID-19 pandemic, the Company's use of proceeds from the common stock offerings, whether we can successfully complete the development of our new products and proprietary technologies, whether we can obtain the FDA and other regulatory approvals required to market our products under development in the United States or abroad, whether the market will accept our products and services and whether we are successful in identifying, completing and integrating acquisitions, as well as other risk factors and business considerations described in the Company's Securities and Exchange Commission filings including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements in this document should be evaluated in light of these important risk factors. While we do not intend to directly harvest, manufacture, distribute or sell cannabis or cannabis products, we may be detrimentally affected by a change in enforcement by federal or state governments and we may be subject to additional risks in connection with the evolving regulatory area and associated uncertainties. Any such effects may give rise to risks and uncertainties that are currently unknown or amplify others mentioned herein. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. In addition, any forward- looking statements included in this press release represent the Company's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company assumes no obligation to correct or update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Company Contact: Ryan Polk, Chief Financial Officer, Astrotech Corporation, (512) Contact: Matt Kreps, Managing Director, Darrow Associates, (214) 597-8200, mkreps@ Financial tables follow ASTROTECH CORPORATION AND SUBSIDIARIES Condensed Consolidated Statements of Operations and Comprehensive Loss (In thousands, except per share data) (Unaudited) Three Months Ended Nine Months Ended March 31, March 31, 2025 2024 2025 2024 Revenue $ 534 $ 50 $ 829 $ 1,590 Cost of revenue 297 42 428 867 Gross profit 237 8 401 723 Operating expenses: Selling, general and administrative 2,115 1,833 5,842 5,501 Research and development 1,989 1,708 6,375 5,158 Total operating expenses 4,104 3,541 12,217 10,659 Loss from operations (3,867 ) (3,533 ) (11,816 ) (9,936 ) Other income and expense, net 234 379 896 1,229 Net loss $ (3,633 ) $ (3,154 ) $ (10,920 ) $ (8,707 ) Weighted average common shares outstanding: Basic and diluted 1,665 1,633 1,663 1,632 Basic and diluted net loss per common share: Net loss per common share $ (2.18 ) $ (1.93 ) $ (6.57 ) $ (5.34 ) Other comprehensive loss, net of tax: Net loss $ (3,633 ) $ (3,154 ) $ (10,920 ) $ (8,707 ) Available-for-sale securities: Net unrealized gain 139 13 236 284 Total comprehensive loss $ (3,494 ) $ (3,141 ) $ (10,684 ) $ (8,423 ) ASTROTECH CORPORATION AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In thousands, except share and per share data) March 31, June 30, 2025 2024 (Unaudited) Assets Current assets Cash and cash equivalents $ 2,812 $ 10,442 Short-term investments 18,057 21,474 Accounts receivable 516 77 Contract Asset 7 — Inventory, net: Raw materials 2,296 2,038 Work-in-process 146 66 Finished goods 310 370 Prepaid expenses and other current assets 431 261 Total current assets 24,575 34,728 Property and equipment, net 2,486 2,763 Intangible asset, net 50 — Operating lease right-of-use assets, net 35 119 Other assets, net 346 30 Total assets $ 27,492 $ 37,640 Liabilities and stockholders' equity Current liabilities Accounts payable $ 616 $ 373 Payroll related accruals 928 1,174 Accrued expenses and other liabilities 882 754 Lease liabilities, current 66 227 Total current liabilities 2,492 2,528 Accrued expenses and other liabilities, net of current portion 193 232 Lease liabilities, net of current portion 55 73 Total liabilities 2,740 2,833 Commitments and contingencies (Note 14) Stockholders' equity Convertible preferred stock, $0.001 par value, 2,500,000 shares authorized; 280,898 shares of Series D issued and outstanding at March 31, 2025, and June 30, 2024 — — Common stock, $0.001 par value, 250,000,000 shares authorized at March 31, 2025, and June 30, 2024, respectively; 1,704,269 and 1,712,045 shares issued at March 31, 2025, and June 30, 2024, respectively; 1,693,953 and 1,701,729 outstanding at March 31, 2025, and June 30, 2024, respectively 190,643 190,643 Treasury shares, 10,316 at March 31, 2025, and June 30, 2024, respectively (119 ) (119 ) Additional paid-in capital 83,109 82,480 Accumulated deficit (247,940 ) (237,020 ) Accumulated other comprehensive loss (941 ) (1,177 ) Total stockholders' equity 24,752 34,807 Total liabilities and stockholders' equity $ 27,492 $ 37,640 Sign in to access your portfolio
