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Side-by-side financial comparison of ASTROTECH Corp (ASTC) and BioXcel Therapeutics, Inc. (BTAI). Click either name above to swap in a different company.
BioXcel Therapeutics, Inc. is the larger business by last-quarter revenue ($256.0K vs $148.0K, roughly 1.7× ASTROTECH Corp). ASTROTECH Corp runs the higher net margin — -2653.4% vs -4900.4%, a 2247.0% gap on every dollar of revenue. On growth, BioXcel Therapeutics, Inc. posted the faster year-over-year revenue change (-30.1% vs -43.3%). Over the past eight quarters, BioXcel Therapeutics, Inc.'s revenue compounded faster (-33.7% CAGR vs -40.2%).
Astrotech Corporation, formerly Spacehab Inc., is a technology incubator headquartered in Austin, Texas. Astrotech uses technology sourced internally and from research institutions, government laboratories, and universities to fund, manage and sell start-up companies. Astrotech Corporation's subsidiaries provide commercial products and services to NASA, the U.S. Department of Defense, national space agencies, and global commercial customers.
BioXcel Therapeutics, Inc. is a clinical-stage biopharmaceutical firm that leverages artificial intelligence to accelerate drug discovery and development. Its core focus is on neuroscience and immuno-oncology therapies addressing unmet medical needs, primarily serving markets in North America with candidates targeting rare and hard-to-treat conditions.
ASTC vs BTAI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $148.0K | $256.0K |
| Net Profit | $-3.9M | $-12.5M |
| Gross Margin | 5.4% | 87.5% |
| Operating Margin | -2635.8% | -4016.4% |
| Net Margin | -2653.4% | -4900.4% |
| Revenue YoY | -43.3% | -30.1% |
| Net Profit YoY | 2.0% | -15.5% |
| EPS (diluted) | — | $0.40 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $148.0K | $256.0K | ||
| Q3 25 | $297.0K | $98.0K | ||
| Q2 25 | $220.0K | $120.0K | ||
| Q1 25 | $534.0K | $168.0K | ||
| Q4 24 | $261.0K | $366.0K | ||
| Q3 24 | — | $214.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $582.0K |
| Q4 25 | $-3.9M | $-12.5M | ||
| Q3 25 | $-3.5M | $-30.9M | ||
| Q2 25 | $-2.9M | $-19.2M | ||
| Q1 25 | $-3.6M | $-7.3M | ||
| Q4 24 | $-4.0M | $-10.9M | ||
| Q3 24 | — | $-13.7M | ||
| Q2 24 | — | $-8.3M | ||
| Q1 24 | — | $-26.8M |
| Q4 25 | 5.4% | 87.5% | ||
| Q3 25 | 63.3% | 88.8% | ||
| Q2 25 | 33.6% | 10.8% | ||
| Q1 25 | 44.4% | 91.7% | ||
| Q4 24 | 59.4% | -127.0% | ||
| Q3 24 | — | -446.7% | ||
| Q2 24 | — | 94.4% | ||
| Q1 24 | — | 86.3% |
| Q4 25 | -2635.8% | -4016.4% | ||
| Q3 25 | -1190.6% | -14518.4% | ||
| Q2 25 | -1326.4% | -13210.0% | ||
| Q1 25 | -724.2% | -6011.3% | ||
| Q4 24 | -1655.6% | -2866.9% | ||
| Q3 24 | — | -7146.3% | ||
| Q2 24 | — | -1566.7% | ||
| Q1 24 | — | -4151.7% |
| Q4 25 | -2653.4% | -4900.4% | ||
| Q3 25 | -1166.7% | -31541.8% | ||
| Q2 25 | -1331.8% | -15989.2% | ||
| Q1 25 | -680.3% | -4317.9% | ||
| Q4 24 | -1536.0% | -2966.9% | ||
| Q3 24 | — | -6378.5% | ||
| Q2 24 | — | -751.7% | ||
| Q1 24 | — | -4603.3% |
| Q4 25 | — | $0.40 | ||
| Q3 25 | — | $-2.18 | ||
| Q2 25 | — | $-2.45 | ||
| Q1 25 | — | $-1.50 | ||
| Q4 24 | — | $-1.17 | ||
| Q3 24 | — | $-5.15 | ||
| Q2 24 | — | $-3.30 | ||
| Q1 24 | — | $-13.89 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $7.0M | $28.4M |
| Total DebtLower is stronger | — | $109.6M |
| Stockholders' EquityBook value | $15.5M | $-95.5M |
| Total Assets | $19.7M | $44.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.0M | $28.4M | ||
| Q3 25 | $11.3M | $36.2M | ||
| Q2 25 | $15.1M | $17.4M | ||
| Q1 25 | $18.1M | $31.0M | ||
| Q4 24 | $21.5M | $29.9M | ||
| Q3 24 | — | $40.4M | ||
| Q2 24 | — | $56.3M | ||
| Q1 24 | — | $74.1M |
| Q4 25 | — | $109.6M | ||
| Q3 25 | — | $109.1M | ||
| Q2 25 | — | $108.7M | ||
| Q1 25 | — | $105.5M | ||
| Q4 24 | — | $102.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $15.5M | $-95.5M | ||
| Q3 25 | $19.1M | $-88.9M | ||
| Q2 25 | $22.1M | $-107.7M | ||
| Q1 25 | $24.8M | $-90.2M | ||
| Q4 24 | $28.1M | $-93.1M | ||
| Q3 24 | — | $-85.6M | ||
| Q2 24 | — | $-74.3M | ||
| Q1 24 | — | $-72.4M |
| Q4 25 | $19.7M | $44.9M | ||
| Q3 25 | $23.2M | $44.8M | ||
| Q2 25 | $27.0M | $25.8M | ||
| Q1 25 | $27.5M | $38.6M | ||
| Q4 24 | $31.0M | $38.3M | ||
| Q3 24 | — | $48.9M | ||
| Q2 24 | — | $65.4M | ||
| Q1 24 | — | $82.3M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.5M | $-14.2M |
| Free Cash FlowOCF − Capex | $-4.0M | — |
| FCF MarginFCF / Revenue | -2671.6% | — |
| Capex IntensityCapex / Revenue | 277.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-14.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.5M | $-14.2M | ||
| Q3 25 | $-3.9M | $-18.8M | ||
| Q2 25 | $-2.4M | $-12.6M | ||
| Q1 25 | $-3.9M | $-12.0M | ||
| Q4 24 | $-3.0M | $-14.8M | ||
| Q3 24 | — | $-16.3M | ||
| Q2 24 | — | $-23.2M | ||
| Q1 24 | — | $-17.7M |
| Q4 25 | $-4.0M | — | ||
| Q3 25 | $-4.4M | — | ||
| Q2 25 | $-2.7M | — | ||
| Q1 25 | $-3.9M | — | ||
| Q4 24 | $-3.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -2671.6% | — | ||
| Q3 25 | -1476.1% | — | ||
| Q2 25 | -1231.4% | — | ||
| Q1 25 | -728.1% | — | ||
| Q4 24 | -1288.5% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 277.7% | — | ||
| Q3 25 | 150.8% | 0.0% | ||
| Q2 25 | 158.2% | — | ||
| Q1 25 | 5.1% | — | ||
| Q4 24 | 122.2% | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
