Note 4 - Leases

9 Months Ended

Mar. 31, 2026

Lessee, Operating and Finance Leases Disclosure [Text Block]

(4) Leases

On November 22, 2022, Astrotech entered into a sublease agreement for an approximately 3,900 square feet facility to 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. This sublease agreement expired on October 31, 2025, and the company no longer occupies the space.

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.

Operating lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate in determining the present value of lease payments. Significant judgment is required when determining the Company’s incremental borrowing rate. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The amortization expense for financed lease assets for three months ended March 31, 2026, and 2025 totaled $31 thousand in each period.

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

(In thousands)	*Classification on the Condensed Consolidated Balance Sheet*	*March 31, 2026*		*June 30, 2025*
Assets:
Operating lease assets	Operating leases, right-of-use assets, net	$	1,906	$	2,225
Financing lease assets	Property and equipment, net	$	139		79
*Total lease assets*		$	2,045	$	2,304

Liabilities:
Current:
Operating lease obligations	Lease liabilities, current	$	251	$	381
Financing lease obligations	Lease liabilities, current		24		24
Non-current:
Operating lease obligations	Lease liabilities, non-current		2,073		2,225
Financing lease obligations	Lease liabilities, non-current		31		49
*Total lease liabilities*		$	2,379	$	2,679

Future minimum lease payments as of March 31, 2026, under non-cancellable leases are as follows (in thousands):

(In thousands)
For the Year Ended June 30,	*Operating Leases*			*Financing Leases*			*Total*
2026	$	95		$	6		$	101
2027		361			26			387
2028		374			26			400
2029		353			—			353
2030		438			—			438
Thereafter		1,127			—			1,127
Total lease obligations		2,748			58			2,806
Less: imputed interest		(424	)		(3	)		(427	)
Present value of net minimum lease obligations		2,324			55			2,379
Less: lease liabilities - current		(251	)		(24	)		(275	)
Lease liabilities - non-current	$	2,073		$	31		$	2,104

Other information as of March 31, 2026, is as follows:

Weighted-average remaining lease term (years):
Operating leases	6.7
Financing leases	2.3
Weighted-average discount rate:
Operating leases	4.8	%
Financing leases	6.1	%

Cash payments for operating leases for the three months ended March 31, 2026, and 2025 were $95 thousand and $43 thousand, respectively. Cash payments for financing leases for the three months ended March 31, 2026, and 2025, were $7 thousand and $9 thousand respectively. Cash payments for operating leases for the nine months ended March 31, 2026, and 2025 were $253 thousand and $128 thousand respectively. Cash payments for financing leases for the nine months ended March 31, 2026, and 2025, were $17 thousand and $87 thousand respectively.