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Note 3 - Leases

3 Months Ended

Sep. 30, 2025

Lessee, Operating and Finance Leases Disclosure [Text Block]

(3) Leases

On April 27, 2021, the Company entered into a lease for a research and development facility of approximately 5,960 square feet in Austin, Texas (the “R&D Facility”). On January 20, 2025, entered into the Donley Facilities Lease Extension as further described below.

On November 22, 2022, Astrotech entered into a sublease agreement for an additional facility directly adjacent to the R&D facility (the “Subleased Facility”). The Subleased Facility consists of approximately 3,900 square feet and will provide the space needed as the Company launches its AgLAB products and continues its R&D efforts at ATI and BreathTech. The sublease commenced on December 1, 2022, and has a lease term of 29 months. The R&D Facility and the Subleased Facility are collectively referred to herein as the “Donley Facilities.”

On January 20, 2025, the Company entered into a lease extension to extend the terms of the leases associated with the Donley Facilities, effective May 1, 2025 (“Donley Facilities Lease Extension”). We are currently continuing the lease on a month-to-month basis. The monthly rent for the Donley Facilities is $14,186 during the initial extension period.

On January 29, 2025, we entered into a new lease agreement for a facility of approximately 17,628 square feet in Austin, Texas (the “Metric Facility”) for a term of 89 months, which such term commences July 1, 2025. The Metric Facility is intended to support and encompass all Austin-based functions. Our total contractual base rent obligation for the Metric Facility is approximately $3.0 million, less a tenant allowance of $317.3 thousand.

The balance sheet presentation of the Company’s operating and finance leases is as follows:

(In thousands)	Classification on the Condensed Consolidated Balance Sheet	September 30, 2025		June 30, 2025
Assets:
Operating lease assets	Operating leases, right-of-use assets, net	$	2,044	$	2,225
Financing lease assets	Property and equipment, net	$	202		79
*Total lease assets*		$	2,246	$	2,304

Liabilities:
Current:
Operating lease obligations	Lease liabilities, current	$	360	$	381
Financing lease obligations	Lease liabilities, current		24		24
Non-current:
Operating lease obligations	Lease liabilities, non-current		2,115		2225
Financing lease obligations	Lease liabilities, non-current		45		49
*Total lease liabilities*		$	2,544	$	2,679

Future minimum lease payments as of September 30, 2025, under non-cancellable leases are as follows (in thousands):

(In thousands)
For the Year Ended September 30,	Operating Leases			Financing Leases			Total
2026	$	284		$	20		$	304
2027		361			27			388
2028		374			27			401
2029		388			—			388
2030		403			—			403
2031		454			—			454
Thereafter		692			—			692
Total lease obligations		2,956			74			3,030
Less: imputed interest		(481	)		(5	)		(486	)
Present value of net minimum lease obligations		2,475			69			2,544
Less: lease liabilities - current		(360	)		(24	)		(384	)
Lease liabilities - non-current	$	2,115		$	45		$	2,160

Other information as of September 30, 2025, is as follows:

Weighted-average remaining lease term (years):
Operating leases	7.17
Financing leases	2.75
Weighted-average discount rate:
Operating leases	4.8	%
Financing leases	6.1	%

Cash payments for operating leases for the three months ended September 30, 2025, and 2024 were $63 thousand and $43 thousand, respectively. Cash payments for financing leases for the three months ended September 30, 2025, and 2024, were $8 thousand and $45 thousand respectively.