$ASTC
ASTROTECH Corp

2021 Q4 Form 10-Q Financial Statement

#000156459022004900 Filed on February 14, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2020 Q4
Revenue $561.0K $130.0K
YoY Change 331.54% -36.59%
Cost Of Revenue $441.0K $130.0K
YoY Change 239.23% -33.67%
Gross Profit $120.0K $0.00
YoY Change -100.0%
Gross Profit Margin 21.39% 0.0%
Selling, General & Admin $1.728M $803.0K
YoY Change 115.19% -27.66%
% of Gross Profit 1440.0%
Research & Development $652.0K $760.0K
YoY Change -14.21% -19.06%
% of Gross Profit 543.33%
Depreciation & Amortization $55.00K $15.00K
YoY Change 266.67% -74.14%
% of Gross Profit 45.83%
Operating Expenses $2.380M $1.561M
YoY Change 52.47% -23.82%
Operating Profit -$2.260M -$1.559M
YoY Change 44.96% -23.58%
Interest Expense -$60.00K
YoY Change 50.0%
% of Operating Profit
Other Income/Expense, Net $80.00K -$63.00K
YoY Change -226.98% 46.51%
Pretax Income -$2.200M -$1.600M
YoY Change 37.5% -23.19%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.180M -$1.622M
YoY Change 34.4% -22.13%
Net Earnings / Revenue -388.59% -1247.69%
Basic Earnings Per Share -$1.38
Diluted Earnings Per Share -$45.91K -$102.1K
COMMON SHARES
Basic Shares Outstanding 1.583M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q4 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $57.28M $22.10M
YoY Change 159.17% 5425.0%
Cash & Equivalents $30.17M $22.12M
Short-Term Investments $27.11M
Other Short-Term Assets $516.0K $600.0K
YoY Change -14.0% -33.33%
Inventory $1.414M $600.0K
Prepaid Expenses
Receivables $92.00K $100.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $59.30M $23.40M
YoY Change 153.41% 1059.56%
LONG-TERM ASSETS
Property, Plant & Equipment $870.0K $200.0K
YoY Change 335.0% -43.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.00K $0.00
YoY Change -100.0%
Total Long-Term Assets $1.087M $200.0K
YoY Change 443.5% -87.94%
TOTAL ASSETS
Total Short-Term Assets $59.30M $23.40M
Total Long-Term Assets $1.087M $200.0K
Total Assets $60.39M $23.60M
YoY Change 155.87% 541.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.00K $200.0K
YoY Change -55.0% 30.72%
Accrued Expenses $1.686M $1.400M
YoY Change 20.43% 40.0%
Deferred Revenue
YoY Change
Short-Term Debt $500.0K $2.900M
YoY Change -82.76% 93.33%
Long-Term Debt Due $135.0K $0.00
YoY Change
Total Short-Term Liabilities $2.413M $4.600M
YoY Change -47.54% 71.77%
LONG-TERM LIABILITIES
Long-Term Debt $283.0K $200.0K
YoY Change 41.5%
Other Long-Term Liabilities $138.0K $0.00
YoY Change -100.0%
Total Long-Term Liabilities $421.0K $200.0K
YoY Change 110.5% -75.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.413M $4.600M
Total Long-Term Liabilities $421.0K $200.0K
Total Liabilities $2.834M $4.800M
YoY Change -40.96% 39.94%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $57.55M $18.81M
YoY Change
Total Liabilities & Shareholders Equity $60.39M $23.60M
YoY Change 155.87% 541.83%

Cashflow Statement

Concept 2021 Q4 2020 Q4
OPERATING ACTIVITIES
Net Income -$2.180M -$1.622M
YoY Change 34.4% -22.13%
Depreciation, Depletion And Amortization $55.00K $15.00K
YoY Change 266.67% -74.14%
Cash From Operating Activities -$1.295M -$1.020M
YoY Change 26.96% -33.33%
INVESTING ACTIVITIES
Capital Expenditures -$167.0K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$167.0K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.00K 21.83M
YoY Change -100.08% 2197.89%
NET CHANGE
Cash From Operating Activities -1.295M -1.020M
Cash From Investing Activities -167.0K 0.000
Cash From Financing Activities -18.00K 21.83M
Net Change In Cash -1.480M 20.81M
YoY Change -107.11% -3687.93%
FREE CASH FLOW
Cash From Operating Activities -$1.295M -$1.020M
Capital Expenditures -$167.0K $0.00
Free Cash Flow -$1.128M -$1.020M
YoY Change 10.59%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
astc Compliance Regain Calendar Days
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P180D
astc Closing Bid Price Period
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us-gaap Fair Value Of Assets Acquired
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OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
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CY2021Q4 us-gaap Finance Lease Liability Current Statement Of Financial Position Extensible List
FinanceLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
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CY2021Q4 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
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CY2021Q4 us-gaap Finance Lease Liability Noncurrent Statement Of Financial Position Extensible List
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us-gaap Description Of Material Affects Of Noncompliance
DescriptionOfMaterialAffectsOfNoncompliance
On December 21, 2021, the Company received a deficiency letter from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market LLC (“NASDAQ”) notifying the Company of its failure to maintain compliance with the $1.00 per share of common stock minimum closing bid price requirement over the preceding 30 consecutive business days as required by Marketplace Rule 5550(a)(2). The letter stated that the Company has 180 calendar days, or until June 20, 2022, to regain compliance. If at any time during this 180-day period the closing bid price of the Company’s common stock is at least $1.00 per share for a minimum of ten consecutive business days, the Company’s compliance will be regained.   In the event the Company does not regain compliance in that period, it may be eligible to apply for an additional 180 calendar days to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The NASDAQ Capital Market, with the exception of the bid price requirement. The Company will also need to provide written notice of its intention to cure the deficiency during the second compliance period. However, if it appears to the NASDAQ staff that the Company will neither be able nor otherwise eligible to cure the deficiency, it may be subject to delisting by NASDAQ.   The Company has not yet determined what action, if any, it will take in response to this letter, although the Company intends to monitor the closing bid price of its common stock between now and June 19, 2022, and to consider available options if its common stock does not trade at a level likely to result in the Company regaining compliance with The NASDAQ Capital Market minimum closing bid price requirement.
CY2021Q4 astc Failure To Maintain Common Stock Minimum Closing Bid Price
FailureToMaintainCommonStockMinimumClosingBidPrice
1.00
astc Minimum Closing Bid Price Per Share
MinimumClosingBidPricePerShare
1.00
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
-2180000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
-1622000
us-gaap Net Income Loss
NetIncomeLoss
-4209000
us-gaap Net Income Loss
NetIncomeLoss
-3733000
CY2021Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47482000
CY2020Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
15864000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47455000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
11769000
CY2021Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.05
CY2020Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.32
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
152532
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
1.85
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
6.00
astc Number Of Revenue Resources
NumberOfRevenueResources
2
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.25
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
122000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
4.96
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
153000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.41
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
275000
CY2021Q4 astc Revenue From Contract With Customers Number Of Customers
RevenueFromContractWithCustomersNumberOfCustomers
2
astc Revenue From Contract With Customers Number Of Customers
RevenueFromContractWithCustomersNumberOfCustomers
2
CY2021Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1000
CY2021Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
153000
CY2021Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
5.41
CY2021Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
150000
CY2021Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
5.49
CY2021Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2200000
CY2020Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1600000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4200000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3700000
CY2021Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2020Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
300000
CY2021Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0

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