Autoscope Technologies
AATCUSD
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- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
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- — Regular-session low and high so far today.
- — Regular-session shares traded.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- — 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own AATC if AATC is a tiny, cash-rich OTC niche-device business whose investment case depends on defending specialized sensor economics and disciplined cash use, not on demonstrated high growth.
AATC price history
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Investment thesis
What must happen next
AATC’s specialized measuring-and-control-device niche retains enough differentiation that customers do not force commodity pricing.HoldingMateriality: High
Annual GAAP gross_profit was $10.235 million in FY2021 on $13.242 million of revenue, implying very high product/service economics in the latest served year. If the differentiation holds, even a small revenue base can produce meaningful gross profit; if it fails, the business loses the core economics that make the niche attractive.
Watch: Traffic-technology vendors such as Iteris, Econolite, or Miovision win municipal or DOT standards with integrated detection platforms that displace AATC’s legacy products.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP gross_profit was $10.235 million in FY2021 on $13.242 million of revenue, implying very high product/service economics in the.
Open source ↗Replacement and upgrade demand from AATC’s legacy installed base must keep orders recurring enough to offset slow procurement cycles, but the available history supports stability rather than structural growth.HoldingMateriality: High
Annual GAAP revenue was relatively stable at $13.173 million in FY2020 and $13.242 million in FY2021. Stable demand can justify a cash-yielding small-cap thesis; loss of replacement demand would turn the business into a declining legacy asset.
Watch: Municipal or transportation-agency customers defer replacement cycles because budgets move to broader intelligent-transportation platforms.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP revenue was relatively stable at $13.173 million in FY2020 and $13.242 million in FY2021.
Open source ↗The model remains asset-light enough that stable sales convert into operating cash rather than being absorbed by inventory, receivables, or plant investment.StrengtheningMateriality: Medium
Annual GAAP operating_cash_flow was positive in every served year: $1.662 million in FY2018, $2.250 million in FY2019, $2.560 million in FY2020, and $2.562 million in FY2021. Cash conversion is what turns a flat niche business into an investable security; deterioration would make reported earnings much less valuable.
Watch: Supply-chain disruption forces AATC to hold more inventory or prepay suppliers for specialized components.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP operating_cash_flow was positive in every served year: $1.662 million in FY2018, $2.250 million in FY2019, $2.560 million in.
Open source ↗Management must keep engineering, support, and public-company overhead aligned with a flat niche revenue base so that high gross profit still reaches operating income.HoldingMateriality: Medium
Annual GAAP operating_income was positive in each served year from FY2018 through FY2021. For a company this small, a modest overhead or R&D mismatch can erase the value of strong gross margins.
Watch: Larger competitors force AATC to increase R&D, field support, or warranty spending to keep products competitive.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP operating_income was positive in each served year from FY2018 through FY2021.
Open source ↗AATC’s cash-rich, low-liability balance sheet gives it time to withstand lumpy orders and protect per-share value, but that protection depends on disciplined capital allocation rather than cash-burning diversification.StrengtheningMateriality: Medium
Cash was $8.229 million at FY2021 year-end versus liabilities of $2.573 million. The balance sheet can reduce downside and create optionality; poor use of cash would remove one of the clearest supports for the equity.
Watch: Management spends cash on an unrelated acquisition or diversification strategy without evidence of attractive returns.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash was $8.229 million at FY2021 year-end versus liabilities of $2.573 million.
Open source ↗
Full investment case & evidence
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Original research
AATC’s specialized measuring-and-control-device niche retains enough differentiation that customers do not force commodity pricing. If the differentiation holds, even a small revenue base can produce meaningful gross profit; if it fails, the business loses the core economics that make the niche attractive.
Replacement and upgrade demand from AATC’s legacy installed base must keep orders recurring enough to offset slow procurement cycles, but the available history supports stability rather than structural growth. Stable demand can justify a cash-yielding small-cap thesis; loss of replacement demand would turn the business into a declining legacy asset.
The model remains asset-light enough that stable sales convert into operating cash rather than being absorbed by inventory, receivables, or plant investment. Cash conversion is what turns a flat niche business into an investable security; deterioration would make reported earnings much less valuable.
Management must keep engineering, support, and public-company overhead aligned with a flat niche revenue base so that high gross profit still reaches operating income. For a company this small, a modest overhead or R&D mismatch can erase the value of strong gross margins.
AATC’s cash-rich, low-liability balance sheet gives it time to withstand lumpy orders and protect per-share value, but that protection depends on disciplined capital allocation rather than cash-burning diversification. The balance sheet can reduce downside and create optionality; poor use of cash would remove one of the clearest supports for the equity.
All standing thesis claims
Original report summary
AATC is a tiny, cash-rich OTC niche-device business whose investment case depends on defending specialized sensor economics and disciplined cash use, not on demonstrated high growth.
Bull case and bear case
Bull case and bear case for Autoscope Technologies
Where the evidence on Autoscope Technologies stands: Holding on the latest evidence (Oct 15, 2026). Of its 5 thesis points, 2 strengthening and 3 holding.
Bull case: what the evidence supports
AATC’s specialized measuring-and-control-device niche retains enough differentiation that customers do not force commodity pricing.
Replacement and upgrade demand from AATC’s legacy installed base must keep orders recurring enough to offset slow procurement cycles, but the available history supports stability rather than structural growth.
The model remains asset-light enough that stable sales convert into operating cash rather than being absorbed by inventory, receivables, or plant investment.
Management must keep engineering, support, and public-company overhead aligned with a flat niche revenue base so that high gross profit still reaches operating income.
AATC’s cash-rich, low-liability balance sheet gives it time to withstand lumpy orders and protect per-share value, but that protection depends on disciplined capital allocation rather than cash-burning diversification.
Bear case: what would count against it
Traffic-technology vendors such as Iteris, Econolite, or Miovision win municipal or DOT standards with integrated detection platforms that displace AATC’s legacy products.
Municipal or transportation-agency customers defer replacement cycles because budgets move to broader intelligent-transportation platforms.
Supply-chain disruption forces AATC to hold more inventory or prepay suppliers for specialized components.
Thesis-Break Engine
Thesis-break watch · Autoscope Technologies
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
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Risks / falsifiers
What could break the thesis
- Traffic-technology vendors such as Iteris, Econolite, or Miovision win municipal or DOT standards with integrated detection platforms that displace AATC’s legacy products.
- Municipal or transportation-agency customers defer replacement cycles because budgets move to broader intelligent-transportation platforms.
- Supply-chain disruption forces AATC to hold more inventory or prepay suppliers for specialized components.
- Larger competitors force AATC to increase R&D, field support, or warranty spending to keep products competitive.
- Management spends cash on an unrelated acquisition or diversification strategy without evidence of attractive returns.
AATC news
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Financial statements
AATC income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.