Astrotech (ASTC) 10-Q 14 Nov 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2016	Nov. 10, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	ASTROTECH Corp
Entity Central Index Key	1,001,907
Trading Symbol	astc
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		21,179,208
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Current assets
Cash and cash equivalents	$ 3,543	$ 4,399
Short-term investments	15,198	17,102
Accounts receivable, net of allowance	1,018	156
Costs and estimated revenues in excess of billings	155	451
Inventory, net	349	496
Prepaid expenses and other current assets	450	319
Total current assets	20,713	22,923
Property and equipment, net	3,245	3,392
Long-term investments	3,545	4,208
Total assets	27,503	30,523
Current liabilities
Accounts payable	266	237
Accrued liabilities and other	1,402	1,563
Total current liabilities	1,668	1,800
Other liabilities	80	96
Total liabilities	1,748	1,896
Commitments and contingencies (Note 12)
Stockholders’ equity
Preferred stock, no par value, convertible, 2,500,000 shares authorized; no shares issued and outstanding, at September 30, 2016 and June 30, 2016	0	0
Common stock, no par value, 75,000,000 shares authorized; 22,555,247 and 21,811,153 shares issued at September 30, 2016 and June 30, 2016, respectively; 21,179,208 and 20,627,511 shares outstanding at September 30, 2016 and June 30, 2016, respectively	190,138	189,294
Treasury stock, 1,376,039 and 1,183,642 shares at cost at September 30, 2016 and June 30, 2016, respectively	(3,136)	(2,828)
Additional paid-in capital	1,437	1,419
Accumulated deficit	(162,532)	(159,117)
Accumulated other comprehensive loss	(60)	(101)
Equity attributable to stockholders of Astrotech Corporation	25,847	28,667
Noncontrolling interest	(92)	(40)
Total stockholders’ equity	25,755	28,627
Total liabilities and stockholders’ equity	$ 27,503	$ 30,523

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2016	Jun. 30, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	2,500,000	2,500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares outstanding (in shares)	21,179,208	20,627,511
Common stock, shares issued (in shares)	22,555,247	21,811,153
Treasury stock, shares at cost (in shares)	1,376,039	1,183,642

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Revenue	$ 1,006	$ 0
Cost of revenue	731	0
Gross profit	275	0
Operating expenses:
Selling, general and administrative	2,548	2,286
Research and development	1,292	1,264
Total operating expenses	3,840	3,550
Loss from operations	(3,565)	(3,550)
Interest and other expense, net	98	99
Loss before income taxes	(3,467)	(3,451)
Income tax expense	0	(2)
Net loss	(3,467)	(3,453)
Less: Net loss attributable to noncontrolling interest	(52)	(89)
Net loss attributable to Astrotech Corporation	$ (3,415)	$ (3,364)
Weighted average common shares outstanding:
Basic (in shares)	20,630	20,705
Basic net loss per common share:
Net loss attributable to Astrotech Corporation (in dollars per share)	$ (0.17)	$ (0.16)
Other comprehensive income, net of tax, available-for-sale securities
Net unrealized gain (loss)	$ 41	$ (94)
Reclassification adjustment for realized losses	0	6
Total comprehensive loss	$ (3,374)	$ (3,452)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net loss	$ (3,467)	$ (3,453)
Adjustments to reconcile net loss from operations to net cash used in operating activities:
Stock-based compensation	862	143
Amortization	16	20
Depreciation	171	102
Changes in assets and liabilities:
Accounts receivable	(862)	(23)
Cost, estimated earnings and billings, net on uncompleted contracts	296	0
Accounts payable	29	(137)
Other assets and liabilities	(161)	(800)
Income taxes payable	0	(190)
Net cash used in operating activities	(3,116)	(4,338)
Cash flows from investing activities:
Sale of available-for-sale investments	0	2,625
Maturities of held-to-maturity securities	2,592	1,494
Purchases of property and equipment	(24)	(638)
Net cash provided by investing activities	2,568	3,481
Cash flows from financing activities:
Payments for shares bought back	(308)	(117)
Net cash used in financing activities	(308)	(117)
Net change in cash and cash equivalents	(856)	(974)
Cash and cash equivalents at beginning of period	4,399	2,330
Cash and cash equivalents at end of period	3,543	1,356
Supplemental disclosures of cash flow information:
Cash paid for interest	0	0
Income taxes paid	$ 0	$ 198

General Information

General Information	3 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General Information	General Information Description of the Company – Astrotech Corporation (Nasdaq: ASTC) (“Astrotech,” “Company,” “we,” “us” or “our”), a Washington corporation organized in 1984, is an innovative science and technology development and commercialization company that invents, acquires, and commercializes technological innovations sourced from internal research, universities, laboratories, and research institutions, and then funds, manages, and builds start-up companies for profitable divestiture to market leaders to maximize shareholder value. Basis of Presentation – The accompanying unaudited condensed consolidated financial statements have been prepared by Astrotech Corporation in accordance with United States Generally Accepted Accounting Principles (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three months ended September 30, 2016 , are not necessarily indicative of the results that may be expected for the year ending June 30, 2017 . These financial statements should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2016 . Certain prior year amounts have been reclassified to conform to the current year presentation. Accounting Pronouncements – In May 2014 the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” (Topic 606) (“ASU 2014-09”), which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition (as updated by ASU 2015-14 in August 2015 and ASU 2016-08 in March 2016). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a five-step process to achieve that core principle. ASU 2014-09 requires disclosures enabling users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. Additionally, qualitative and quantitative disclosures are required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. ASU 2014-09 was to be effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. ASU 2015-14 delayed the required adoption date for public entities to periods beginning after December 15, 2017, although early adoption to the original effective date under ASU 2014-09 is permitted. Once implemented, the Company can use one of two retrospective application methods for prior periods. Earlier application is not permitted. The Company expects this pronouncement to effect the timing of when revenue is recognized, but not the amount. The Company plans to adopt this standard in fiscal year 2019. The Company has not determined the method of adoption. In August 2014 the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). ASU 2014-15 will explicitly require management to assess an entity’s ability to continue as a going concern at each annual and interim period. Footnote disclosures will be required if conditions give rise to substantial doubt about an entity’s ability to continue as a going concern within one year after the report issuance date. ASU 2014-15 defines substantial doubt using a likelihood threshold of “probable” similar to the current use of that term in GAAP for loss contingencies and provides example indicators. ASU 2014-15 is effective for reporting periods ending after December 15, 2016. We will adopt this ASU in the quarter ending December 31, 2016. The Company does not believe the adoption of this guidance will have a material impact on its unaudited condensed consolidated financial statements. In July 2015 the FASB issued ASU No. 2015-11, “Simplifying the Measurements of Inventory” (“ASU 2015-11”). ASU 2015-11 requires management to evaluate inventory at the lower of cost and net realizable value. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Earlier application is permitted by all entities as of the beginning of an interim or annual reporting period. The Company is in the process of assessing the impact, if any, on its consolidated financial statements. In January 2016 the FASB issued ASU 2016-01, “Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). ASU 2016-01 modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities will have to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicality exception. A practicality exception will apply to those equity investments that do not have a readily determinable fair value and do not qualify for the practical expedient to estimate fair value under ASC 820, “Fair Value Measurements,” and as such these investments may be measured at cost. ASU 2016-01 will be effective for the Company’s fiscal year beginning July 1, 2018, and subsequent interim periods. The adoption of ASU 2016-01 is not expected to have an impact on the Company’s financial statements. The Company will adopt this ASU in fiscal year 2019. In February 2016 the FASB issued ASU 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record an ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is assessing the impact the adoption of ASU 2016-02 will have on its financial statements. In June 2016 the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 amends guidance on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at amortized cost basis, ASU 2016-13 eliminates the probable initial recognition threshold in current generally accepted accounting standards, and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses should be measured in a manner similar to current generally accepted accounting standards; however, ASU 2016-13 will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. This amendment affects loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements. In August 2016 the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017. The new standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case it would be required to apply the amendments prospectively as of the earliest date practicable. The Company is currently in the process of evaluating the impact of adoption on its consolidated financial statements. Our Business Units Astro Scientific Astro Scientific is a technology incubator that commercializes innovative technologies. Subsidiaries 1 st Detect Corporation (“1 st Detect”) and Astrogenetix Inc. (“Astrogenetix”) currently reside in Astro Scientific: 1 st Detect - 1 st Detect develops, manufactures, and sells chemical analyzers for use in the airport security, military, food and beverage, research, and breath analysis markets. Our chemical analyzers can identify chemicals with more accuracy and precision than competing analyzers given their extreme sensitivity and specificity. By leveraging a concept from Oak Ridge National Laboratory and a preliminary design initiated by an engagement with the National Aeronautics and Space Administration (“NASA”) to develop a mass spectrometer for the International Space Station (“ISS”), the Company developed a chemical analyzer that enables real-time analytics that we believe to be significantly smaller, lighter, faster, and less expensive than competing analyzers. Our product portfolio currently consists of the following products: • MMS-1000™ - the MMS-1000™ is a small, low-power desktop analyzer designed for the laboratory market. • OEM-1000 - the OEM-1000 is an original equipment manufacturer (“OEM”) component that is designed to be integrated into customers’ packaging and enclosures, and is well suited to be integrated with application specific sampling or separation technology. In addition, the majority of revenue in 1 st Detect comes from working as a subcontractor on government contracts. The Company works with prime contractors in adapting our technology to be used in enhancing the government’s detection capabilities for a variety of applications. Astrogenetix - Astrogenetix is a biotechnology company that is applying a fast-track, on-orbit discovery platform using the ISS to develop vaccines and other therapeutics. NASA has engaged the Center for Vaccine Development at the University of Maryland (“UMD”), one of the leading vaccinology institutions in the world, to research the application of a vaccine for Salmonella . NASA is collaborating with UMD, meaning little investment is required of Astrogenetix. Astral Astral Images Corporation (“Astral”) was created to commercialize decades of image enhancement research. Astral sells film-to-digital conversion, image enhancement, and defect removal and color correction services, providing economically feasible conversion of television and feature 35mm and 16mm films to the new 4K resolution (“4K”) Ultra-High Definition/High-Dynamic Range (“UHD/HDR”) format, the standard for the next generation of digital film distribution to the home. Due to a significant shift in the film scanning industry, most film assets will need to go through an upgrade to 4K to remain relevant for over-the-top distribution (Netflix, Amazon, Hulu, etc.) as television manufacturers sell more 4K UHD/HDR televisions and consumer demand for such content accelerates. Astral is positioned to be a leader in digital conversion and repair of feature films, film-based television series, sporting events shot on film, film libraries, film archives, and consumer media.

Investments

Investments	3 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	Investments We use the specific identification method when determining realized gains and losses on our available-for-sale and held-to-maturity securities. The following tables summarize unrealized gains and losses related to our investments: Available-for-Sale September 30, 2016 (In thousands) Adjusted Unrealized Unrealized Fair Cost Gain Loss Value Mutual Funds - Corporate & Government Debt $ 12,908 $ — $ (60 ) $ 12,848 Total $ 12,908 $ — $ (60 ) $ 12,848 June 30, 2016 Adjusted Unrealized Unrealized Fair Cost Gain Loss Value Mutual Funds - Corporate & Government Debt $ 12,908 $ — $ (101 ) $ 12,807 Total $ 12,908 $ — $ (101 ) $ 12,807 For information on the unrealized holding losses on available-for-sale investments reclassified out of accumulated other comprehensive loss into the consolidated statements of income, see “Note 8 : Other Comprehensive Loss.” Held-to-Maturity September 30, 2016 (In thousands) Carrying Unrealized Unrealized Fair Value Gain Loss Value Fixed Income Bonds $ 3,401 $ 6 $ (5 ) $ 3,402 Time Deposits 2,494 4 — 2,498 Total $ 5,895 $ 10 $ (5 ) $ 5,900 June 30, 2016 Carrying Unrealized Unrealized Fair Value Gain Loss Value Fixed Income Bonds $ 3,513 $ 11 $ (6 ) $ 3,518 Time Deposits 4,990 7 — 4,997 Total $ 8,503 $ 18 $ (6 ) $ 8,515 We have certain financial instruments on our condensed consolidated balance sheet related to interest-bearing time deposits and fixed income bonds. These held-to-maturity time deposits are included in “Short-term investments” if the maturities at the end of the reporting period were 360 days or less or “Long-term investments” if the maturities at the end of the reporting period were over 360 days. Fixed income investments, maturing over the next one to three years, are comprised of investment-grade fixed income securities in various corporations with ratings of BBB- or better. The following table presents the carrying amounts of certain financial instruments as of September 30, 2016 , and June 30, 2016 : Carrying Value Short-Term Investments Long-Term Investments (In thousands) September 30, 2016 June 30, 2016 September 30, 2016 June 30, 2016 Mutual Funds - Corporate & Government Debt $ 12,848 $ 12,807 $ — $ — Time deposits Maturities from 1-90 days 497 2,243 — — Maturities from 91-360 days 1,199 1,699 — — Maturities over 360 days — — 798 1,048 Fixed Income Bonds Maturities less than 1 year 654 353 — — Maturities from 1-3 years — — 2,747 3,160 Maturities from 3-5 years — — — — Total $ 15,198 $ 17,102 $ 3,545 $ 4,208

Inventory

Inventory	3 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventory	Inventory The following table summarizes the components of our inventory balances, net of allowance of $40 thousand and $17 thousand at September 30, 2016 , and June 30, 2016 , respectively: (In thousands) September 30, 2016 June 30, 2016 Raw materials $ 239 $ 327 Work in process 55 75 Finished goods 55 94 Total inventory $ 349 $ 496

Noncontrolling Interest

Noncontrolling Interest	3 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest During the third quarter of 2015, Astral was created in conjunction with a noncontrolling interest, resulting in Astrotech owning 72% of Astral; currently, the Company owns 92% of Astral. The following table details the contributions from the Company and the minority interest owner and the Company’s ownership percentage of Astral: (In thousands) ASTC Contribution Minority Owner Contribution ASTC Ownership Initial investment $ 1,422 $ 422 72 % Contributions through June 30, 2016 4,000 — 92 % Total Contributions $ 5,422 $ 422 The Company applies noncontrolling interest accounting, which requires us to clearly identify the noncontrolling interest in the condensed consolidated balance sheets and consolidated income statements. The Company discloses three measures of net loss: net loss, net loss attributable to noncontrolling interest, and net loss attributable to Astrotech Corporation. The Company’s operating cash flows in its consolidated statements of cash flows reflect net loss, while our basic and diluted earnings per share calculations reflect net loss attributable to Astrotech Corporation. The following table breaks down the changes in Stockholders’ Equity for the fiscal year 2017 (in thousands): Astrotech Corp Stockholders' Equity Noncontrolling Interest in Subsidiary Total Stockholders' Equity Balance at June 30, 2016 $ 28,667 $ (40 ) $ 28,627 Stock based compensation 862 — 862 Exercise of stock options — — — Shares repurchases (308 ) — (308 ) Net change in available-for-sale securities 41 — 41 Net loss attributable to Astrotech Corporation (3,415 ) — (3,415 ) Net loss attributable to noncontrolling interest — (52 ) (52 ) Balance at September 30, 2016 $ 25,847 $ (92 ) $ 25,755

Net Loss per Share

Net Loss per Share	3 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Net Loss per Share	Net Loss per Share Basic net loss per share is computed on the basis of the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed based on the weighted average number of common shares outstanding plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method and the if-converted method. Dilutive potential common shares include outstanding stock options and share-based awards. The following table reconciles the numerators and denominators used in the computations of both basic and diluted net loss per share (in thousands, except per share data): Three Months Ended 2016 2015 Numerator: Amounts attributable to Astrotech Corporation, basic and diluted: Loss before income taxes $ (3,467 ) $ (3,451 ) Income tax expense — (2 ) Net loss (3,467 ) (3,453 ) Less: Net loss attributable to noncontrolling interest (52 ) (89 ) Net loss attributable to Astrotech Corporation $ (3,415 ) $ (3,364 ) Denominator: Denominator for basic and diluted net loss per share attributable to Astrotech Corporation — weighted average common stock outstanding 20,630 20,705 Basic and diluted net loss per common share: Net loss attributable to Astrotech Corporation $ (0.17 ) $ (0.16 ) All unvested restricted stock awards for three months ended September 30, 2016 , are not included in diluted net loss per share, as the impact to net loss per share would be anti-dilutive. Options to purchase 1,177,750 shares of common stock at exercise prices ranging from $0.32 to $3.20 per share outstanding for the three months ended September 30, 2016 , were not included in diluted net loss per share, as the impact to net loss per share would be anti-dilutive.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Sep. 30, 2016
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition Astrotech recognizes revenue employing two generally accepted revenue recognition methodologies. The methodology used is based on contract type and the manner in which products and services are provided. Production Unit Sales When revenue for sale of manufactured product is commenced, we will recognize it when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when a firm sales contract or invoice is in place, delivery has occurred or services have been provided, and collectability is reasonably assured. Construction-Type and Production-Type Contracts Most of the Company’s revenue is derived from contracts to manufacture mass spectrometers to a buyer’s specification. These contracts are accounted for under the provisions of FASB Accounting Standards Codification (“ASC”) Topic 605-35 “Revenue Recognition: Construction-Type and Production-Type Contracts” (“ASC 605-35”). These contracts are fixed-price and are recorded on the percentage of completion basis using the ratio of costs incurred to estimated total costs at completion as the measurement basis for progress toward completion and revenue recognition. Any losses identified on contracts are recognized immediately. Contract accounting requires significant judgment relative to assessing risks, estimating contract costs, and making related assumptions for schedule and technical issues. With respect to contract change orders, claims, or similar items, judgment must be used in estimating related amounts and assessing the potential for realization. These amounts are only included in contract value when they can be reliably estimated and realization is probable. The Company enters into fixed-priced subcontracts on government projects that are one to two years long. Revenue from certain long-term, integrated project management contracts to provide new prototypes and completion services is reported on the percentage-of-completion method of accounting. At the outset of each contract, we prepare a detailed analysis of our estimated cost to complete the project, and our progress is based on the percentage of projected cost incurred. Risks related to service delivery, usage, productivity, and other factors are considered in the estimation process. The recording of profits and losses on long-term contracts requires an estimate of the total profit or loss over the life of each contract. This estimate requires consideration of total contract value, change orders, and claims, less costs incurred and estimated costs to complete. Anticipated losses on contracts are recorded in full in the period in which they become evident. Profits are recorded based upon the total estimated contract profit times the current percentage complete for the contract.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The accounting standard for fair value measurements defines fair value, establishes a market-based framework or hierarchy for measuring fair value, and expands disclosures about fair value measurements. The standard is applicable whenever assets and liabilities are measured and included in the financial statements at fair value. The fair value hierarchy established in the standard prioritizes the inputs used in valuation techniques into three levels as follows: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. The following tables present the carrying amounts, estimated fair values, and valuation input levels of certain financial instruments as of September 30, 2016 , and June 30, 2016 : September 30, 2016 Carrying Fair Value Measured Using Fair (in thousands) Amount Level 1 Level 2 Level 3 Value Available-for-Sale Securities Mutual Funds - Corporate & Government Debt $ 12,848 $ 12,848 $ — $ — $ 12,848 Held-to-Maturity Securities Bonds: 0-1 year 654 — 653 — 653 Bonds: 1-3 years 2,747 — 2,749 — 2,749 Bonds: 3-5 years — — — — — Time deposits: 1-90 days 497 — 497 — 497 Time deposits: 91-360 days 1,199 — 1,201 — 1,201 Time deposits: over 360 days 798 — 800 — 800 Total $ 18,743 $ 12,848 $ 5,900 $ — $ 18,748 June 30, 2016 Carrying Fair Value Measured Using Fair (in thousands) Amount Level 1 Level 2 Level 3 Value Available-for-Sale Securities Mutual Funds - Corporate & Government Debt $ 12,807 $ 12,807 $ — $ — $ 12,807 Held-to-Maturity Securities Bonds: 0-1 year 353 — 352 352 Bonds: 1-3 years 3,160 — 3,166 — 3,166 Bonds: 3-5 years — — — — — Time deposits: 1-90 days 2,243 — 2,244 — 2,244 Time deposits: 91-360 days 1,699 — 1,703 — 1,703 Time deposits: over 360 days 1,048 — 1,050 — 1,050 Total $ 21,310 $ 12,807 $ 8,515 $ — $ 21,322 The value of our available-for-sale investments is based on pricing from third-party pricing vendors, who may use quoted prices in active markets for identical assets (Level 1 inputs). Our held-to-maturity investments are recorded at amortized costs, as management’s intent is to hold such investments until maturity. The fair value of our held-to-maturity investments with maturities less than 90 days is considered the amortized value; the fair value measurements used for bonds and time deposits with maturities greater than 90 days is considered Level 2 and uses pricing from third-party pricing vendors who use quoted prices for identical or similar securities in both active and inactive markets.

Other Comprehensive Loss

Other Comprehensive Loss	3 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Other Comprehensive Loss	Other Comprehensive Loss Changes in the balances of each component included in accumulated other comprehensive loss for the three months ended September 30, 2016 , are presented below. (In thousands) Accumulated Other Comprehensive Loss Unrealized Gain in Mutual Fund Investments Balance at June 30, 2016 $ (101 ) Current period change in other comprehensive loss before reclassifications 41 Balance at September 30, 2016 $ (60 )

Business Risk and Credit Risk C

Business Risk and Credit Risk Concentration Involving Cash	3 Months Ended
	Sep. 30, 2016
Risks and Uncertainties [Abstract]
Business Risk and Credit Risk Concentration Involving Cash	Business Risk and Credit Risk Concentration Involving Cash During the three months ended September 30, 2016 , the Company had two customers that together comprised 100% of the Company’s revenue. During the three months ended September 30, 2015 , the Company did not have any revenue. The following tables summarize the concentrations of sales and trade accounts receivable percentages for our two customers: Three Months Ended Three Months Ended Percentage of Total Sales Percentage of Total Sales Next Generation Chemical Detector Partner 62 % — % Department of Homeland Security Science and Technology Directorate Partner 38 % — % September 30, 2016 June 30, 2016 Percentage of Trade A/R Percentage of Trade A/R Next Generation Chemical Detector Partner 92 % — % Department of Homeland Security Science and Technology Directorate Partner 8 % 100 % The Company maintains funds in bank accounts that may exceed the limit insured by the Federal Deposit Insurance Corporation (“FDIC”) of $250,000 per depositor. The risk of loss attributable to these uninsured balances is mitigated by depositing funds in what we believe to be high credit quality financial institutions. The Company has not experienced any losses in such accounts.

Common Stock Incentive, Stock P

Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans	3 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans	Common Stock Incentive, Stock Purchase Plans, and Other Compensation Plans Stock Option Activity Summary The Company’s stock option activity for the three months ended September 30, 2016 , is as follows: Shares Weighted Average Exercise Price Outstanding at June 30, 2016 957,750 $ 1.18 Granted 220,000 1.67 Exercised — — Canceled or expired (4,000 ) 3.20 Outstanding at September 30, 2016 1,173,750 $ 1.27 The aggregate intrinsic value of options exercisable at September 30, 2016 , was $1.5 million as the fair value of the Company’s common stock is more than the exercise prices of these options. The remaining share-based compensation expense of $108 thousand related to stock options will be recognized over a weighted-average period of 1.52 years . The table below details the Company’s stock options outstanding as of September 30, 2016 : Range of exercise prices Number Outstanding Options Outstanding Weighted- Average Remaining Contractual Life (years) Weighted- Average Exercise Price Number Exercisable Options Exercisable Weighted- Average Exercise Price $0.32 – 0.71 432,750 3.89 $ 0.60 432,705 $ 0.60 $1.20 – 1.67 650,000 8.15 1.44 430,000 1.32 $3.20 – 3.20 91,000 8.52 3.20 — — $0.32 – 3.20 1,173,750 6.38 $ 1.27 862,705 $ 0.96 Compensation costs recognized related to stock option awards were $19 thousand and $54 thousand for the three months ended September 30, 2016 , and 2015 , respectively. Restricted Stock The Company’s restricted stock activity for the three months ended September 30, 2016 , was as follows: Shares Weighted Outstanding at June 30, 2016 155 $ 3.14 Granted 744 1.64 Vested 486 1.60 Canceled or expired — — Outstanding at September 30, 2016 413 $ 1.20 Stock compensation expenses related to restricted stock were $843 thousand and $89 thousand for the three months ended September 30, 2016 , and 2015 , respectively. The remaining share-based compensation expense of $530 thousand related to restricted stock awards granted will be recognized over a weighted-average period of 1.95 years . Securities Repurchase Program On December 13, 2014, the Board of Directors amended the stock repurchase program to allow for the repurchase of up to $5 million more treasury shares until December 31, 2015. On December 3, 2015, the Board of Directors authorized the extension of the share repurchase program through December 31, 2016. During the three months ended September 30, 2016 , no shares were repurchased as part of the securities repurchase program. As of September 30, 2016 , the Company had repurchased 188,635 shares of common stock at a cost of $492 thousand , which represents an average cost of $2.61 per share, and $4.5 million of securities are still available for repurchase under this program. Shares Repurchased from Related Parties In August 2016 the Company repurchased 192 thousand shares issued to the Chief Financial Officer and Chief Operating Officer related to their tax withholding obligations at a cost of $308 thousand , which represents an average cost of $1.60 per share.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are more likely than not to be realized. As of September 30, 2016 , and June 30, 2016 , the Company established a full valuation allowance against all of its net deferred tax assets. For each of the three months ended September 30, 2016 , and 2015 , the Company incurred pre-tax losses in the amount of $3.5 million . The total effective tax rate was approximately 0% for each of the three months ended September 30, 2016 , and 2015 . For each of the three months ended September 30, 2016 , and 2015 , the Company’s effective tax rate differed from the federal statutory rate of 35% , primarily due to recording changes to the valuation allowance placed against its net deferred tax assets. FASB ASC 740, “Income Taxes” (“FASB ASC 740”) addresses the accounting for uncertainty in income tax recognized in an entity’s financial statements and prescribes a recognition threshold and measurement attribute for financial statement disclosure of tax positions taken or expected to be taken on a tax return. The Company had an unrecognized tax benefit of $0 and $0.1 million for the three months ended September 30, 2016 , and 2015 , respectively. Loss carryovers are generally subject to modification by tax authorities until three years after they have been utilized; as such, the Company is subject to examination for the fiscal years ended 2000 through present for federal purposes and fiscal years ended 2006 through present for state purposes. The reason for this extended examination period is due to the utilization of the loss carryovers generated by the sale of our Astrotech Space Operations business unit in fiscal year 2015.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to various lawsuits and other claims in the normal course of business. In addition, from time to time, the Company receives communications from government or regulatory agencies concerning investigations or allegations of noncompliance with laws or regulations in jurisdictions in which the Company operates. The Company establishes reserves for the estimated losses on specific contingent liabilities, for regulatory and legal actions where the Company deems a loss to be probable and the amount of the loss can be reasonably estimated. In other instances, the Company is not able to make a reasonable estimate of liability because of the uncertainties related to the outcome or the amount or range of potential loss. Litigation, Investigations, and Audits – We are not party to, nor are our properties the subject of, any material pending legal proceedings.

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information The Company currently has two reportable business units: Astro Scientific and Astral. Astro Scientific Astro Scientific is a technology incubator that commercializes innovative technologies. Subsidiaries 1 st Detect and Astrogenetix currently reside in Astro Scientific: 1 st Detect - 1 st Detect develops, manufactures, and sells chemical analyzers for use in the airport security, military, food and beverage, research, and breath analysis markets. Our chemical analyzers can identify chemicals with more accuracy and precision than competing analyzers given their extreme sensitivity and specificity. By leveraging a concept from Oak Ridge National Laboratory and a preliminary design initiated by an engagement with NASA to develop a mass spectrometer for the ISS, the Company developed a chemical analyzer that enables real-time analytics that we believe to be significantly smaller, lighter, faster, and less expensive than competing analyzers. The majority of revenue in 1 st Detect comes from working as a subcontractor on government contracts. The Company works with prime contractors in adapting our technology to be used in enhancing the government’s detection capabilities for a variety of applications. Astrogenetix - Astrogenetix is a biotechnology company that is applying a fast-track, on-orbit discovery platform using the ISS to develop vaccines and other therapeutics. NASA has engaged the Center for Vaccine Development at UMD, one of the leading vaccinology institutions in the world, to research the application of a vaccine for Salmonella . NASA is collaborating with UMD, meaning little investment is required of Astrogenetix. Astral Astral sells film-to-digital conversion, image enhancement, and defect removal and color correction services, providing conversion of television and feature 35mm and 16mm films to the new 4K UHD/HDR format. Astral is positioned to be a leader in the digital conversion and repair of feature films, film-based television series, sporting events shot on film, film libraries, film archives, and consumer media. Film assets will need to go through an upgrade to 4K to remain relevant for over-the-top distribution (Netflix, Amazon, Hulu, etc.) as television manufacturers sell more 4K UHD/HDR televisions and consumer demand for such content accelerates. All intercompany transactions between business units have been eliminated in consolidation. Key financial metrics of the Company’s segments are as follows: Three Months Ended Three Months Ended Revenue, Depreciation, and Income (In thousands) Revenue Depreciation Loss before Income Taxes Revenue Depreciation Loss before Income Taxes Astro Scientific $ 1,006 $ 91 $ (2,786 ) $ — $ 90 $ (2,924 ) Astral — 80 (681 ) — 12 (527 ) Total $ 1,006 $ 171 $ (3,467 ) $ — $ 102 $ (3,451 ) September 30, 2016 June 30, 2016 Assets (In thousands) Fixed Assets, Net Total Capital Expenditures Total Assets Fixed Assets, Net Total Capital Expenditures Total Assets Astro Scientific $ 1,080 $ 24 $ 25,197 $ 1,146 $ 322 $ 28,125 Astral 2,165 — 2,306 2,246 487 2,398 Total $ 3,245 $ 24 $ 27,503 $ 3,392 $ 809 $ 30,523

General Information (Policies)

General Information (Policies)	3 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements	Accounting Pronouncements – In May 2014 the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” (Topic 606) (“ASU 2014-09”), which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition (as updated by ASU 2015-14 in August 2015 and ASU 2016-08 in March 2016). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a five-step process to achieve that core principle. ASU 2014-09 requires disclosures enabling users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. Additionally, qualitative and quantitative disclosures are required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. ASU 2014-09 was to be effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. ASU 2015-14 delayed the required adoption date for public entities to periods beginning after December 15, 2017, although early adoption to the original effective date under ASU 2014-09 is permitted. Once implemented, the Company can use one of two retrospective application methods for prior periods. Earlier application is not permitted. The Company expects this pronouncement to effect the timing of when revenue is recognized, but not the amount. The Company plans to adopt this standard in fiscal year 2019. The Company has not determined the method of adoption. In August 2014 the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). ASU 2014-15 will explicitly require management to assess an entity’s ability to continue as a going concern at each annual and interim period. Footnote disclosures will be required if conditions give rise to substantial doubt about an entity’s ability to continue as a going concern within one year after the report issuance date. ASU 2014-15 defines substantial doubt using a likelihood threshold of “probable” similar to the current use of that term in GAAP for loss contingencies and provides example indicators. ASU 2014-15 is effective for reporting periods ending after December 15, 2016. We will adopt this ASU in the quarter ending December 31, 2016. The Company does not believe the adoption of this guidance will have a material impact on its unaudited condensed consolidated financial statements. In July 2015 the FASB issued ASU No. 2015-11, “Simplifying the Measurements of Inventory” (“ASU 2015-11”). ASU 2015-11 requires management to evaluate inventory at the lower of cost and net realizable value. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Earlier application is permitted by all entities as of the beginning of an interim or annual reporting period. The Company is in the process of assessing the impact, if any, on its consolidated financial statements. In January 2016 the FASB issued ASU 2016-01, “Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). ASU 2016-01 modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities will have to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicality exception. A practicality exception will apply to those equity investments that do not have a readily determinable fair value and do not qualify for the practical expedient to estimate fair value under ASC 820, “Fair Value Measurements,” and as such these investments may be measured at cost. ASU 2016-01 will be effective for the Company’s fiscal year beginning July 1, 2018, and subsequent interim periods. The adoption of ASU 2016-01 is not expected to have an impact on the Company’s financial statements. The Company will adopt this ASU in fiscal year 2019. In February 2016 the FASB issued ASU 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record an ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is assessing the impact the adoption of ASU 2016-02 will have on its financial statements. In June 2016 the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 amends guidance on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at amortized cost basis, ASU 2016-13 eliminates the probable initial recognition threshold in current generally accepted accounting standards, and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses should be measured in a manner similar to current generally accepted accounting standards; however, ASU 2016-13 will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. This amendment affects loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements. In August 2016 the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017. The new standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case it would be required to apply the amendments prospectively as of the earliest date practicable. The Company is currently in the process of evaluating the impact of adoption on its consolidated financial statements.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of available-for-sale securities	The following tables summarize unrealized gains and losses related to our investments: Available-for-Sale September 30, 2016 (In thousands) Adjusted Unrealized Unrealized Fair Cost Gain Loss Value Mutual Funds - Corporate & Government Debt $ 12,908 $ — $ (60 ) $ 12,848 Total $ 12,908 $ — $ (60 ) $ 12,848 June 30, 2016 Adjusted Unrealized Unrealized Fair Cost Gain Loss Value Mutual Funds - Corporate & Government Debt $ 12,908 $ — $ (101 ) $ 12,807 Total $ 12,908 $ — $ (101 ) $ 12,807
Schedule of held-to-maturity securities	The following table presents the carrying amounts of certain financial instruments as of September 30, 2016 , and June 30, 2016 : Carrying Value Short-Term Investments Long-Term Investments (In thousands) September 30, 2016 June 30, 2016 September 30, 2016 June 30, 2016 Mutual Funds - Corporate & Government Debt $ 12,848 $ 12,807 $ — $ — Time deposits Maturities from 1-90 days 497 2,243 — — Maturities from 91-360 days 1,199 1,699 — — Maturities over 360 days — — 798 1,048 Fixed Income Bonds Maturities less than 1 year 654 353 — — Maturities from 1-3 years — — 2,747 3,160 Maturities from 3-5 years — — — — Total $ 15,198 $ 17,102 $ 3,545 $ 4,208 Held-to-Maturity September 30, 2016 (In thousands) Carrying Unrealized Unrealized Fair Value Gain Loss Value Fixed Income Bonds $ 3,401 $ 6 $ (5 ) $ 3,402 Time Deposits 2,494 4 — 2,498 Total $ 5,895 $ 10 $ (5 ) $ 5,900 June 30, 2016 Carrying Unrealized Unrealized Fair Value Gain Loss Value Fixed Income Bonds $ 3,513 $ 11 $ (6 ) $ 3,518 Time Deposits 4,990 7 — 4,997 Total $ 8,503 $ 18 $ (6 ) $ 8,515

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Schedule of inventory	The following table summarizes the components of our inventory balances, net of allowance of $40 thousand and $17 thousand at September 30, 2016 , and June 30, 2016 , respectively: (In thousands) September 30, 2016 June 30, 2016 Raw materials $ 239 $ 327 Work in process 55 75 Finished goods 55 94 Total inventory $ 349 $ 496

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	3 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Schedule of noncontrolling interest	The following table details the contributions from the Company and the minority interest owner and the Company’s ownership percentage of Astral: (In thousands) ASTC Contribution Minority Owner Contribution ASTC Ownership Initial investment $ 1,422 $ 422 72 % Contributions through June 30, 2016 4,000 — 92 % Total Contributions $ 5,422 $ 422
Schedule of changes in stockholders equity	The following table breaks down the changes in Stockholders’ Equity for the fiscal year 2017 (in thousands): Astrotech Corp Stockholders' Equity Noncontrolling Interest in Subsidiary Total Stockholders' Equity Balance at June 30, 2016 $ 28,667 $ (40 ) $ 28,627 Stock based compensation 862 — 862 Exercise of stock options — — — Shares repurchases (308 ) — (308 ) Net change in available-for-sale securities 41 — 41 Net loss attributable to Astrotech Corporation (3,415 ) — (3,415 ) Net loss attributable to noncontrolling interest — (52 ) (52 ) Balance at September 30, 2016 $ 25,847 $ (92 ) $ 25,755

Net Loss per Share (Tables)

Net Loss per Share (Tables)	3 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of earnings per share basic and diluted	The following table reconciles the numerators and denominators used in the computations of both basic and diluted net loss per share (in thousands, except per share data): Three Months Ended 2016 2015 Numerator: Amounts attributable to Astrotech Corporation, basic and diluted: Loss before income taxes $ (3,467 ) $ (3,451 ) Income tax expense — (2 ) Net loss (3,467 ) (3,453 ) Less: Net loss attributable to noncontrolling interest (52 ) (89 ) Net loss attributable to Astrotech Corporation $ (3,415 ) $ (3,364 ) Denominator: Denominator for basic and diluted net loss per share attributable to Astrotech Corporation — weighted average common stock outstanding 20,630 20,705 Basic and diluted net loss per common share: Net loss attributable to Astrotech Corporation $ (0.17 ) $ (0.16 )

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of fair value of financial instruments	The following tables present the carrying amounts, estimated fair values, and valuation input levels of certain financial instruments as of September 30, 2016 , and June 30, 2016 : September 30, 2016 Carrying Fair Value Measured Using Fair (in thousands) Amount Level 1 Level 2 Level 3 Value Available-for-Sale Securities Mutual Funds - Corporate & Government Debt $ 12,848 $ 12,848 $ — $ — $ 12,848 Held-to-Maturity Securities Bonds: 0-1 year 654 — 653 — 653 Bonds: 1-3 years 2,747 — 2,749 — 2,749 Bonds: 3-5 years — — — — — Time deposits: 1-90 days 497 — 497 — 497 Time deposits: 91-360 days 1,199 — 1,201 — 1,201 Time deposits: over 360 days 798 — 800 — 800 Total $ 18,743 $ 12,848 $ 5,900 $ — $ 18,748 June 30, 2016 Carrying Fair Value Measured Using Fair (in thousands) Amount Level 1 Level 2 Level 3 Value Available-for-Sale Securities Mutual Funds - Corporate & Government Debt $ 12,807 $ 12,807 $ — $ — $ 12,807 Held-to-Maturity Securities Bonds: 0-1 year 353 — 352 352 Bonds: 1-3 years 3,160 — 3,166 — 3,166 Bonds: 3-5 years — — — — — Time deposits: 1-90 days 2,243 — 2,244 — 2,244 Time deposits: 91-360 days 1,699 — 1,703 — 1,703 Time deposits: over 360 days 1,048 — 1,050 — 1,050 Total $ 21,310 $ 12,807 $ 8,515 $ — $ 21,322

Other Comprehensive Loss (Table

Other Comprehensive Loss (Tables)	3 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of accumulated other comprehensive (loss) income	Changes in the balances of each component included in accumulated other comprehensive loss for the three months ended September 30, 2016 , are presented below. (In thousands) Accumulated Other Comprehensive Loss Unrealized Gain in Mutual Fund Investments Balance at June 30, 2016 $ (101 ) Current period change in other comprehensive loss before reclassifications 41 Balance at September 30, 2016 $ (60 )

Business Risk and Credit Risk26

Business Risk and Credit Risk Concentration Involving Cash (Tables)	3 Months Ended
	Sep. 30, 2016
Risks and Uncertainties [Abstract]
Schedule of concentrations of sales and accounts receivable	The following tables summarize the concentrations of sales and trade accounts receivable percentages for our two customers: Three Months Ended Three Months Ended Percentage of Total Sales Percentage of Total Sales Next Generation Chemical Detector Partner 62 % — % Department of Homeland Security Science and Technology Directorate Partner 38 % — % September 30, 2016 June 30, 2016 Percentage of Trade A/R Percentage of Trade A/R Next Generation Chemical Detector Partner 92 % — % Department of Homeland Security Science and Technology Directorate Partner 8 % 100 %

Common Stock Incentive, Stock27

Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans (Tables)	3 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock option activity	The Company’s stock option activity for the three months ended September 30, 2016 , is as follows: Shares Weighted Average Exercise Price Outstanding at June 30, 2016 957,750 $ 1.18 Granted 220,000 1.67 Exercised — — Canceled or expired (4,000 ) 3.20 Outstanding at September 30, 2016 1,173,750 $ 1.27
Schedule of stock options by exercise price	The table below details the Company’s stock options outstanding as of September 30, 2016 : Range of exercise prices Number Outstanding Options Outstanding Weighted- Average Remaining Contractual Life (years) Weighted- Average Exercise Price Number Exercisable Options Exercisable Weighted- Average Exercise Price $0.32 – 0.71 432,750 3.89 $ 0.60 432,705 $ 0.60 $1.20 – 1.67 650,000 8.15 1.44 430,000 1.32 $3.20 – 3.20 91,000 8.52 3.20 — — $0.32 – 3.20 1,173,750 6.38 $ 1.27 862,705 $ 0.96
Schedule of restricted stock activity	The Company’s restricted stock activity for the three months ended September 30, 2016 , was as follows: Shares Weighted Outstanding at June 30, 2016 155 $ 3.14 Granted 744 1.64 Vested 486 1.60 Canceled or expired — — Outstanding at September 30, 2016 413 $ 1.20

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of segment reporting information by segment	Key financial metrics of the Company’s segments are as follows: Three Months Ended Three Months Ended Revenue, Depreciation, and Income (In thousands) Revenue Depreciation Loss before Income Taxes Revenue Depreciation Loss before Income Taxes Astro Scientific $ 1,006 $ 91 $ (2,786 ) $ — $ 90 $ (2,924 ) Astral — 80 (681 ) — 12 (527 ) Total $ 1,006 $ 171 $ (3,467 ) $ — $ 102 $ (3,451 ) September 30, 2016 June 30, 2016 Assets (In thousands) Fixed Assets, Net Total Capital Expenditures Total Assets Fixed Assets, Net Total Capital Expenditures Total Assets Astro Scientific $ 1,080 $ 24 $ 25,197 $ 1,146 $ 322 $ 28,125 Astral 2,165 — 2,306 2,246 487 2,398 Total $ 3,245 $ 24 $ 27,503 $ 3,392 $ 809 $ 30,523

Investments - Available for Sal

Investments - Available for Sale and Held to Maturity Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Available-for-sale Securities [Abstract]
Adjusted Cost	$ 12,908	$ 12,908
Unrealized Gain	0	0
Unrealized Loss	(60)	(101)
Fair Value	12,848	12,807
Held-to-maturity Securities [Abstract]
Held-to-maturity securities	5,895	8,503
Unrealized Gain	10	18
Unrealized Loss	(5)	(6)
Fair Value	5,900	8,515
Mutual Funds - Corporate & Government Debt
Available-for-sale Securities [Abstract]
Adjusted Cost	12,908	12,908
Unrealized Gain	0	0
Unrealized Loss	(60)	(101)
Fair Value	12,848	12,807
Fixed Income Bonds
Held-to-maturity Securities [Abstract]
Held-to-maturity securities	3,401	3,513
Unrealized Gain	6	11
Unrealized Loss	(5)	(6)
Fair Value	3,402	3,518
Time Deposits
Held-to-maturity Securities [Abstract]
Held-to-maturity securities	2,494	4,990
Unrealized Gain	4	7
Unrealized Loss	0	0
Fair Value	$ 2,498	$ 4,997

Investments - Carrying Value (D

Investments - Carrying Value (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Schedule of Held-to-maturity Securities [Line Items]
Available-for-sale securities, current	$ 12,848	$ 12,807
Held-to-maturity securities, maturities from 1-90 days	497	2,243
Held-to-maturity securities, maturities from 91-360 days	1,199	1,699
Held-to-maturity securities, maturities over 360 days	798	1,048
Held-to-maturity securities, maturities less than 1 year	654	353
Held-to-maturity securities, remaining maturities from 1-3 years	2,747	3,160
Held-to-maturity securities	5,895	8,503
Short-Term Investments
Schedule of Held-to-maturity Securities [Line Items]
Total available-for-sale and held-to-maturity securities	15,198	17,102
Long-Term Investments
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities	3,545	4,208
Mutual Funds - Corporate & Government Debt
Schedule of Held-to-maturity Securities [Line Items]
Available-for-sale securities, current	12,848	12,807
Mutual Funds - Corporate & Government Debt | Short-Term Investments
Schedule of Held-to-maturity Securities [Line Items]
Available-for-sale securities, current	12,848	12,807
Time Deposits
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities	2,494	4,990
Time Deposits | Short-Term Investments
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities, maturities from 1-90 days	497	2,243
Held-to-maturity securities, maturities from 91-360 days	1,199	1,699
Time Deposits | Long-Term Investments
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities, maturities over 360 days	798	1,048
Fixed Income Bonds
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities	3,401	3,513
Fixed Income Bonds | Short-Term Investments
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities, maturities less than 1 year	654	353
Fixed Income Bonds | Long-Term Investments
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities, remaining maturities from 1-3 years	$ 2,747	$ 3,160

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventory valuation reserves	$ 40	$ 17
Raw materials	239	327
Work in process	55	75
Finished goods	55	94
Total inventory	$ 349	$ 496

Noncontrolling Interest (Detail

Noncontrolling Interest (Detail Textuals)	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2015
Noncontrolling Interest [Line Items]
Ownership percentage		92.00%	72.00%
Astral Images, Inc
Noncontrolling Interest [Line Items]
Ownership percentage	92.00%		72.00%

Noncontrolling Interest - Contr

Noncontrolling Interest - Contributions (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2016	Sep. 30, 2016
Noncontrolling Interest [Line Items]
Ownership percentage	72.00%	92.00%
ASTC Contribution
Noncontrolling Interest [Line Items]
Contributions made	$ 1,422	$ 4,000	$ 5,422
Minority Owner Contribution
Noncontrolling Interest [Line Items]
Contributions made	$ 422	$ 0	$ 422

Noncontrolling Interest - Chang

Noncontrolling Interest - Changes in Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	$ 28,627
Stock based compensation	862
Exercise of stock options	0
Shares repurchases	(308)
Net change in available-for-sale securities	41
Net (loss) income	(3,415)	$ (3,364)
Net loss attributable to noncontrolling interest	(52)	$ (89)
Balance, end of period	25,755
Astrotech Corp Stockholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	28,667
Stock based compensation	862
Exercise of stock options	0
Shares repurchases	(308)
Net change in available-for-sale securities	41
Net (loss) income	(3,415)
Balance, end of period	25,847
Noncontrolling Interest in Subsidiary
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	(40)
Net loss attributable to noncontrolling interest	(52)
Balance, end of period	$ (92)

Net Loss per Share (Details)

Net Loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Amounts attributable to Astrotech Corporation, basic and diluted:
Loss before income taxes	$ (3,467)	$ (3,451)
Income tax expense	0	(2)
Net loss	(3,467)	(3,453)
Less: Net loss attributable to noncontrolling interest	(52)	(89)
Net loss attributable to Astrotech Corporation	$ (3,415)	$ (3,364)
Denominator:
Denominator for basic and diluted net (loss) income per share attributable to Astrotech Corporation — weighted average common stock outstanding (in shares)	20,630	20,705
Basic and diluted net loss per common share:
Net loss attributable to Astrotech Corporation applicable to common shareholders (in dollars per share)	$ (0.17)	$ (0.16)

Net Loss per Share (Detail Text

Net Loss per Share (Detail Textuals)	3 Months Ended
	Sep. 30, 2016$ / sharesshares
Earnings Per Share [Abstract]
Options to purchase shares (in shares) | shares	1,177,750
Exercise price lower range (in dollars per share)	$ 0.32
Exercise price upper range (in dollars per share)	$ 3.20

Revenue Recognition (Details)

Revenue Recognition (Details)	3 Months Ended
	Sep. 30, 2016
Minimum
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Fixed price subcontract on government project, term	1 year
Maximum
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Fixed price subcontract on government project, term	2 years

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	$ 12,848	$ 12,807
Mutual funds, fair value	12,848	12,807
Held-to-maturity securities, maturities less than 1 year	654	353
Held-to-maturity securities, maturities less than 1 year, fair value	653	352
Held-to-maturity securities, remaining maturities from 1-3 years	2,747	3,160
Held-to-maturity securities, remaining maturities from 1-3 years, fair value	2,749	3,166
Held-to-maturity securities, maturities from 1-90 days	497	2,243
Held-to-maturity securities, maturities from 1-90 days, fair value	497	2,244
Held-to-maturity securities, maturities from 91-360 days	1,199	1,699
Held-to-maturity securities, maturities from 91-360 days, fair value	1,201	1,703
Held-to-maturity securities, maturities over 360 days	798	1,048
Held-to-maturity securities, maturities over 360 days, fair value	800	1,050
Investments	18,743	21,310
Investments, fair value	18,748	21,322
Fair Value Inputs Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds, fair value	12,848	12,807
Investments, fair value	12,848	12,807
Fair Value Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity securities, maturities less than 1 year, fair value	653	352
Held-to-maturity securities, remaining maturities from 1-3 years, fair value	2,749	3,166
Held-to-maturity securities, maturities from 1-90 days, fair value	497	2,244
Held-to-maturity securities, maturities from 91-360 days, fair value	1,201	1,703
Held-to-maturity securities, maturities over 360 days, fair value	800	1,050
Investments, fair value	$ 5,900	$ 8,515

Other Comprehensive Loss (Detai

Other Comprehensive Loss (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2016USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period	$ 28,627
Balance, end of period	25,755
Unrealized Gain in Mutual Fund Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period	(101)
Current period change in other comprehensive loss before reclassifications	41
Balance, end of period	$ (60)

Business Risk and Credit Risk40

Business Risk and Credit Risk Concentration Involving Cash (Details) - Customer concentration risk	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2015
Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	100.00%
NGCD Partner | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	62.00%	0.00%
NGCD Partner | Accounts receivable
Concentration Risk [Line Items]
Concentration risk, percentage	92.00%		0.00%
DHS S&T Partner | Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	38.00%	0.00%
DHS S&T Partner | Accounts receivable
Concentration Risk [Line Items]
Concentration risk, percentage	8.00%		100.00%

Business Risk and Credit Risk41

Business Risk and Credit Risk Concentration Involving Cash (Detail Textuals)	3 Months Ended
	Sep. 30, 2016USD ($)customer
Concentration Risk [Line Items]
FDIC insurance amount per depositor | $	$ 250,000
Revenue | Customer concentration risk
Concentration Risk [Line Items]
Number of customers | customer	2
Concentration risk, percentage	100.00%

Common Stock Incentive, Stock42

Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans - Stock Option Activity (Details) shares in Thousands	3 Months Ended
	Sep. 30, 2016$ / sharesshares
Share activity:
Outstanding, beginning of period (in shares) | shares	957,750
Granted (in shares) | shares	220,000
Exercised (in shares) | shares	0
Canceled or expired (in shares) | shares	(4,000)
Outstanding, end of period (in shares) | shares	1,173,750
Weighted Average Exercise Price:
Outstanding weighted average exercise price, beginning of period (in dollars per share) | $ / shares	$ 1.18
Granted weighted average exercise price (in dollars per share) | $ / shares	1.67
Exercised weighted average exercise price (in dollars per share) | $ / shares	0
Canceled or expired weighted average exercise price (in dollars per share) | $ / shares	3.20
Outstanding weighted average exercise price, end of period (in dollars per share) | $ / shares	$ 1.27

Common Stock Incentive, Stock43

Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans - Stock Options by Exercise Price (Details)	3 Months Ended
	Sep. 30, 2016$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price lower range (in dollars per share)	$ 0.32
Exercise price upper range (in dollars per share)	3.20
$0.32 - 0.71
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price lower range (in dollars per share)	0.32
Exercise price upper range (in dollars per share)	$ 0.71
Number outstanding (in shares) | shares	432,750
Options Outstanding Weighted- Average Remaining Contractual Life (years)	3 years 10 months 20 days
Weighted average exercise price (in dollars per share)	$ 0.60
Number exercisable (in shares) | shares	432,705
Options exercisable weighted average exercise price (in dollars per share)	$ 0.60
$1.20 - 1.67
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price lower range (in dollars per share)	1.20
Exercise price upper range (in dollars per share)	$ 1.67
Number outstanding (in shares) | shares	650,000
Options Outstanding Weighted- Average Remaining Contractual Life (years)	8 years 1 month 24 days
Weighted average exercise price (in dollars per share)	$ 1.44
Number exercisable (in shares) | shares	430,000
Options exercisable weighted average exercise price (in dollars per share)	$ 1.32
$3.20 - 3.20
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price lower range (in dollars per share)	3.20
Exercise price upper range (in dollars per share)	$ 3.20
Number outstanding (in shares) | shares	91,000
Options Outstanding Weighted- Average Remaining Contractual Life (years)	8 years 6 months 7 days
Weighted average exercise price (in dollars per share)	$ 3.20
Number exercisable (in shares) | shares	0
Options exercisable weighted average exercise price (in dollars per share)	$ 0
$0.32 - 3.20
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price lower range (in dollars per share)	0.32
Exercise price upper range (in dollars per share)	$ 3.20
Number outstanding (in shares) | shares	1,173,750
Options Outstanding Weighted- Average Remaining Contractual Life (years)	6 years 4 months 17 days
Weighted average exercise price (in dollars per share)	$ 1.27
Number exercisable (in shares) | shares	862,705
Options exercisable weighted average exercise price (in dollars per share)	$ 0.96

Common Stock Incentive, Stock44

Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans - Restricted Stock (Details) - Restricted Stock shares in Thousands	3 Months Ended
	Sep. 30, 2016$ / sharesshares
Shares
Non-vested, beginning of period (in shares) | shares	155
Granted (in shares) | shares	744
Vested (in shares) | shares	486
Canceled or expired (in shares) | shares	0
Non-vested, end of period (in shares) | shares	413
Weighted Average Grant-Date Fair Value
Non-vested, beginning of period (in dollars per share) | $ / shares	$ 3.14
Granted (in dollars per share) | $ / shares	1.64
Vested (in dollars per share) | $ / shares	1.60
Canceled or expired (in dollars per share) | $ / shares	0
Non-vested, end of period (in dollars per share) | $ / shares	$ 1.20

Common Stock Incentive, Stock45

Common Stock Incentive, Stock Purchase Plans and Other Compensation Plans - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		22 Months Ended
	Aug. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Dec. 13, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of options exercisable		$ 1,500,000		$ 1,500,000
Remaining share-based compensation expense		$ 108,000		108,000
Weighted average recognition period on remaining share-based compensation expense		1 year 6 months 7 days
Common stock repurchased - value		$ 308,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation costs recognized related to stock options		$ 19,000	$ 54,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average recognition period on remaining share-based compensation expense		1 year 11 months 12 days
Compensation costs recognized related to stock options		$ 843,000	$ 89,000
Remaining share-based compensation expense		$ 530,000		$ 530,000
Securities Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock repurchase - authorized amount					$ 5,000,000
Share repurchases (in shares)	192,000	0		188,635
Common stock repurchased - value	$ 308,000			$ 492,000
Share repurchased, average cost (in dollars per share)	$ 1.60			$ 2.61
Stock repurchase program, remaining amount		$ 4,500,000		$ 4,500,000

Income Taxes (Detail Textuals)

Income Taxes (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Loss before income taxes	$ (3,467)	$ (3,451)
Effective tax rate for continuing operations	0.00%	0.00%
Federal statutory effective tax rate	35.00%	35.00%
Unrecognized tax benefits	$ 0	$ 100

Segment Information (Detail tex

Segment Information (Detail textuals)	3 Months Ended
	Sep. 30, 2016reportable_unit
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016
Segment Reporting Information [Line Items]
Revenue	$ 1,006	$ 0
Loss before income taxes	(3,467)	(3,451)
Fixed Assets, net	3,245		$ 3,392
Total Assets	27,503		30,523
Operating Segment
Segment Reporting Information [Line Items]
Revenue	1,006	0
Depreciation & Amortization	171	102
Loss before income taxes	(3,467)	(3,451)
Fixed Assets, net	3,245		3,392
Total Capital Expenditures	24		809
Total Assets	27,503		30,523
Operating Segment | Astro Scientific
Segment Reporting Information [Line Items]
Revenue	1,006	0
Depreciation & Amortization	91	90
Loss before income taxes	(2,786)	(2,924)
Fixed Assets, net	1,080		1,146
Total Capital Expenditures	24		322
Total Assets	25,197		28,125
Operating Segment | Astral
Segment Reporting Information [Line Items]
Revenue	0	0
Depreciation & Amortization	80	12
Loss before income taxes	(681)	$ (527)
Fixed Assets, net	2,165		2,246
Total Capital Expenditures	0		487
Total Assets	$ 2,306		$ 2,398