Benzinga | Sep 8, 2020 06:05AM EDT

Astrotech Corporation FY20 Sales $488K

* Revenue generated in fiscal year 2020 was $488 thousand, an increase of 284% from the prior fiscal year.

* Total operating expenses decreased by 3.6% for the fiscal year ended June 30, 2020, compared to the fiscal year ended June 30, 2019, due to an ongoing emphasis on optimizing our resources despite the added expenses associated with several capital raises and with launching two new subsidiaries.

* Monthly cash burn for fiscal year 2020 was reduced to approximately $575 thousand, an 18.2% reduction from our run rate in fiscal year 2019.

* During fiscal year 2020, we raised $8.7 million, including a $2.5 million investment from the Chairman and CEO, two registered direct offerings of approximately $4.4 million, $1.3 million through the ATM (at-the-market offering) through B. Riley, and $0.5 million through the Paycheck Protection Program administered by the Small Business Administration (SBA).