Astrotech Corporation (ASTC) Bundle
A Brief History of Astrotech Corporation (ASTC)
Founding and Early Years
Founding and Early Years
Astrotech Corporation, founded in 1984, began its journey focusing on advanced technologies, primarily within the aerospace and satellite sectors. The company became publicly traded on the Nasdaq under the ticker symbol ASTC in 1993. Initial offerings included various services related to satellite operations and ground systems.
Development of Core Services
By the late 1990s, Astrotech expanded its operations to include the development of innovative solutions in near-space and space applications. The company began to concentrate on the commercialization of its technologies, which led to an increase in revenues.
Acquisitions and Expansion
In 2010, Astrotech acquired Astrotech Space Operations for $3 million, enhancing its capabilities in launch operations and spacecraft processing. The acquisition marked a significant turning point, allowing the company to provide end-to-end services in the spacecraft lifecycle.
Recent Financial Performance
As of the fiscal year ending June 30, 2023, Astrotech reported annual revenues of approximately $5.2 million, a 15% increase from the previous year. Their net loss for the same period was around $1.2 million.
| Fiscal Year | Revenue ($ million) | Net Income/Loss ($ million) | Assets ($ million) | Liabilities ($ million) |
|---|---|---|---|---|
| 2023 | 5.2 | -1.2 | 14.5 | 6.7 |
| 2022 | 4.5 | -1.0 | 13.1 | 5.3 |
| 2021 | 3.8 | -0.8 | 11.7 | 4.8 |
Technological Innovations
Astrotech has invested heavily in research and development, with an annual R&D expenditure of approximately $1.5 million in 2023. This investment has fostered innovations in satellite technology and ground control systems, positioning the company as a key player in the aerospace sector.
Market Position
As of 2023, Astrotech holds a market capitalization of around $50 million. The company remains competitive against other firms in the aerospace technology sector, thanks to its unique service offerings and strategic partnerships.
Future Outlook
Astrotech has actively sought new contracts and partnerships to bolster its revenue streams. The company expects to secure contracts worth approximately $10 million in potential future revenue over the next two years.
Headquarters and Workforce
Astrotech Corporation is headquartered in Austin, Texas. As of 2023, the company employs around 60 staff members, focusing on engineers and technicians who specialize in aerospace technology.
Conclusion on Astrotech's Trajectory
The trajectory of Astrotech Corporation reflects steady growth potential in the dynamic aerospace industry, with an emphasis on innovation and expansion. The company remains focused on delivering high-quality services and products to its clients.
A Who Owns Astrotech Corporation (ASTC)
Current Ownership Structure
Current Ownership Structure
As of the latest filings, Astrotech Corporation (ASTC) has a diverse ownership structure comprising institutional investors, individual shareholders, and company insiders. Below is a breakdown of ownership percentages:
| Owner Type | Percentage of Ownership |
|---|---|
| Institutional Investors | 32.5% |
| Insiders | 15.3% |
| Retail Investors | 52.2% |
Major Institutional Shareholders
The following table lists the top institutional shareholders holding significant stakes in Astrotech Corporation:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| The Vanguard Group | 150,000 | 10.0% |
| BlackRock, Inc. | 125,000 | 8.4% |
| State Street Corporation | 100,000 | 6.6% |
| Harris Associates | 75,000 | 5.0% |
Insider Ownership
The company’s insiders have also made significant investments in Astrotech, signaling confidence in the corporation's future. The following points highlight insider ownership:
- Total Insider Shares Owned: 2,000,000 shares
- CEO: 500,000 shares (25% of insider ownership)
- CFO: 300,000 shares (15% of insider ownership)
- Board Members: 1,200,000 shares collectively
Recent Stock Performance
As of October 2023, Astrotech Corporation (ASTC) has shown volatility in its stock performance:
| Date | Closing Price | Market Capitalization |
|---|---|---|
| October 1, 2023 | $4.50 | $60 million |
| October 10, 2023 | $4.00 | $53 million |
| October 20, 2023 | $5.25 | $70 million |
Shareholder Voting Rights
Each share of Astrotech Corporation typically grants the shareholder one vote in matters presented at the annual meetings, reinforcing shareholder influence over corporate governance.
Recent Developments in Ownership
In recent months, Astrotech Corporation has experienced shifts in ownership, particularly with the acquisition of additional shares by institutional investors:
- Vanguard Group increased its stake by 2% in the last quarter.
- BlackRock reduced its holdings by 1.5% in the same timeframe.
- Insider transactions: Several insiders purchased additional shares, reflecting confidence in upcoming projects.
Future Outlook
Ongoing developments in the space technology sector suggest potential shifts in ownership dynamics. Significant partnerships or financial performance improvements could attract more institutional investments moving forward.
Astrotech Corporation (ASTC) Mission Statement
Overview of Astrotech Corporation
Astrotech Corporation, with the ticker symbol ASTC, is a publicly traded company focused on developing innovative technologies in the aerospace and defense industries. Its mission centers around creating solutions that enhance operational efficiency and safety in space exploration and terrestrial applications.
Core Mission Statement
The mission statement of Astrotech Corporation emphasizes their commitment to excellence and innovation:
- Delivering cutting-edge technology solutions to empower customers in the aerospace sector.
- Fostering a culture of safety and integrity in all operations.
- Enhancing global security through advanced defense technologies.
Financial Performance
Astrotech Corporation has demonstrated significant financial metrics in recent years, reflecting its growth and operational success.
| Year | Revenue (in millions) | Net Income (in millions) | Total Assets (in millions) |
|---|---|---|---|
| 2021 | $12.4 | $1.2 | $20.5 |
| 2022 | $15.8 | $2.0 | $25.6 |
| 2023 | $18.3 | $2.5 | $30.0 |
Strategic Goals
Astrotech Corporation aims to fulfill its mission through the following strategic goals:
- Innovate continuously to stay ahead of technological advancements.
- Expand market presence in both domestic and international sectors.
- Build partnerships with leading organizations in aerospace and defense.
Impact on Industry
Astrotech Corporation's commitment to its mission has led to notable contributions in the aerospace and defense sectors.
| Sector | Contribution (in millions) | Project Count | Partnerships Established |
|---|---|---|---|
| Aerospace | $10.5 | 25 | 10 |
| Defense | $8.0 | 15 | 5 |
Future Directions
The future direction of Astrotech Corporation indicates a strong focus on:
- Research and development investments to bolster innovation.
- Enhancing sustainability in operational practices.
- Workforce development to ensure skilled labor in aerospace technologies.
Conclusion
Astrotech Corporation’s mission statement reflects its dedication to advancing technologies and fostering a safer world, with quantifiable metrics underscoring its operational successes and strategic goals.
How Astrotech Corporation (ASTC) Works
Overview of Astrotech Corporation
Overview of Astrotech Corporation
Astrotech Corporation specializes in providing innovative technologies and solutions in space systems, particularly in the field of aerospace. The company operates through its subsidiaries, including 1st Detect and Astrotech Space Operations.
Financial Performance and Statistics
As of the end of Q3 2023, Astrotech Corporation reported the following financial highlights:
| Metric | Value |
|---|---|
| Market Capitalization | $50 million |
| Revenue (Last 12 Months) | $12 million |
| Net Income (Q3 2023) | $1.5 million |
| Gross Profit Margin | 70% |
| Operating Expenses | $3 million |
| Cash and Cash Equivalents | $5 million |
| Total Assets | $25 million |
Key Subsidiaries and Their Functions
The operations of Astrotech are significantly influenced by its subsidiaries, each serving a distinct role in the aerospace industry:
- 1st Detect: Develops advanced sensor systems for space and security applications.
- Astrotech Space Operations: Provides spacecraft processing and launch services at Cape Canaveral.
Research and Development Investments
Astrotech has increased its commitment to research and development, with R&D expenditures reaching:
| Year | R&D Expenditure |
|---|---|
| 2021 | $1 million |
| 2022 | $2 million |
| 2023 | $3 million |
Market Position and Competitors
Astrotech operates in a competitive market, with notable competitors including:
- Northrop Grumman Corporation
- Raytheon Technologies
- Boeing Company
- Lockheed Martin Corporation
Recent Developments and Projects
Astrotech has undertaken significant projects that impact its operational success. Recent developments include:
- Launch Services: Contract with NASA for spacecraft processing services.
- Sensor Technology: Development of next-gen detection systems for space applications.
- Partnerships: Collaborating with commercial spaceflight companies.
Future Growth Projections
Astrotech expects continued growth, with projected revenue increases over the next five years, estimating:
| Year | Projected Revenue |
|---|---|
| 2024 | $15 million |
| 2025 | $20 million |
| 2026 | $25 million |
| 2027 | $30 million |
| 2028 | $35 million |
How Astrotech Corporation (ASTC) Makes Money
Revenue Streams
Astrotech Corporation (ASTC) primarily generates revenue through its subsidiaries that focus on various sectors including aerospace, defense, and technology services.
Aerospace Services
The Aerospace Services division contributes significantly to the revenue through contracts for satellite and spacecraft systems. For the fiscal year 2023, this division reported revenues of approximately $6.2 million.
Technology Development
Astrotech also engages in technology development, focusing on advanced research and product development. The revenue from technology development in 2023 was around $2.9 million.
Security and Defense Contracts
In the security and defense sector, Astrotech has seen an increase in contract opportunities. The revenue from this segment reached approximately $5.5 million in 2023.
Licensing and Partnerships
Licensing agreements and partnerships also play a crucial role in revenue generation. In 2023, this area generated revenues of about $1.3 million.
Financial Overview
| Financial Metric | FY 2022 | FY 2023 |
|---|---|---|
| Total Revenue | $15.0 million | $16.9 million |
| Gross Profit | $7.5 million | $8.5 million |
| Operating Income | $1.2 million | $1.5 million |
| Net Income | $0.8 million | $1.0 million |
Future Revenue Projections
Looking forward, Astrotech anticipates growth in its revenue streams, with projected revenues for 2024 estimated to be around $20 million.
Key Contracts
- NASA Launch Services: $3 million in revenue
- Department of Defense: $2.5 million in revenue
- Commercial Satellite Operations: $4 million in revenue
Market Analysis
The market for aerospace and defense is projected to grow at a compound annual growth rate (CAGR) of 4.5% through 2027, which positions Astrotech for increased profitability.
Conclusion on Current Position
As of the end of fiscal year 2023, Astrotech Corporation maintains a solid financial footing, poised for growth in both existing and new markets.
Astrotech Corporation (ASTC) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support