Accessibility StatementSkip Navigation BURLINGTON, Mass., Nov. 12, 2025 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) will announce fiscal fourth quarter and full year 2025 earnings which ended on September 30, 2025, on Friday, November 21, 2025, before the market opens. Azenta is headquartered in Burlington, MA, with operations in North America, Europe and Asia. For more information, please visit www.azenta.com. INVESTOR CONTACTS:Yvonne PerronVice President, Financial Planning & Analysis, and Investor ...

Core Insights - Azenta, Inc. is a prominent player in the life science sector, specializing in sample exploration and management solutions with a global presence [1] - The company operates through two main segments: Life Sciences Products and Life Sciences Services, offering innovative solutions like automated cold sample management systems [1] Financial Performance - In Q3 2025, Azenta reported a 36% increase in earnings per share (EPS), indicating strong operational efficiency and growth [3] - Following the earnings report, Evercore ISI set a new price target of $62 for Azenta, reflecting strong confidence in the company's future prospects [3][4] Analyst Sentiment - The consensus price target for Azenta has remained stable at $38 over the past month and quarter, showing a consistent short-term outlook among analysts [2] - The price target has increased from $35.5 a year ago, indicating an optimistic shift in analyst sentiment towards Azenta's stock [2] Strategic Outlook - Investors are advised to monitor Azenta's announcements regarding product innovations, partnerships, or service expansions, as these could significantly impact future price targets and stock performance [5] - Broader market trends in the life sciences sector may also influence analyst expectations and investor sentiment towards Azenta [5]

Core Insights - Azenta, Inc. has formed a strategic partnership with the PRECEDE Foundation to enhance early detection and prevention of pancreatic cancer [1][4] - The partnership aims to improve the five-year survival rate of pancreatic cancer from 13% to 50% within the next decade [3] Company Overview - Azenta, Inc. is a leading provider of life sciences solutions, offering cold-chain sample management and multiomics services to pharmaceutical, biotech, academic, and healthcare institutions globally [8] - The company operates in North America, Europe, and Asia, with its headquarters in Burlington, Massachusetts [9] Industry Context - Pancreatic cancer is the third-leading cause of cancer-related deaths in the U.S., with over 66,500 diagnoses annually and a five-year survival rate of only 13% [2] - The PRECEDE Consortium, which includes over 60 academic medical centers, focuses on improving screening and risk modeling for individuals at hereditary risk of pancreatic cancer [3][6] Partnership Details - Azenta will provide secure storage for study samples in its biorepository, allowing PRECEDE researchers to concentrate on advancing diagnostics and patient survival [1][4] - The collaboration emphasizes Azenta's role in supporting high-impact life science research and enhancing the capabilities of biorepositories [4]

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents Azenta, Inc.'s unaudited condensed consolidated financial statements, including detailed notes, management's discussion and analysis, market risk disclosures, and controls and procedures [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Azenta, Inc.'s unaudited condensed consolidated financial statements, including balance sheets, statements of operations, comprehensive income (loss), cash flows, and changes in stockholders' equity, along with detailed notes explaining the company's nature of operations, significant accounting policies, discontinued operations, marketable securities, derivative instruments, goodwill and intangible assets, restructuring, supplementary balance sheet information, stockholders' equity, revenue recognition, stock-based compensation, fair value measurements, income taxes, net income (loss) per share, and segment/geographic information [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheets (in thousands) | Metric | June 30, 2025 | September 30, 2024 | | :-------------------------------- | :------------ | :----------------- | | Total Assets | $2,019,135 | $2,100,041 | | Total Liabilities | $345,501 | $331,074 | | Total Stockholders' Equity | $1,673,634 | $1,768,967 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Condensed Consolidated Statements of Operations (in thousands, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Total Revenue | $143,942 | $144,292 | $434,870 | $422,372 | | Gross Profit | $67,760 | $65,478 | $202,317 | $187,885 | | Operating Loss | $(714) | $(7,106) | $(28,218) | $(47,564) | | Income (Loss) from Continuing Operations | $680 | $(158) | $(26,926) | $(23,552) | | Loss from Discontinued Operations, net of tax | $(53,486) | $(6,424) | $(79,676) | $(135,634) | | Net Loss | $(52,806) | $(6,582) | $(106,602) | $(159,186) | | Basic Net Loss Per Share | $(1.15) | $(0.12) | $(2.33) | $(2.90) | | Diluted Net Loss Per Share | $(1.15) | $(0.12) | $(2.33) | $(2.90) | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Condensed Consolidated Statements of Comprehensive Income (Loss) (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Net Loss | $(52,806) | $(6,582) | $(106,602) | $(159,186) | | Total Other Comprehensive Income (Loss), net of tax | $22,514 | $(3,167) | $(6,171) | $17,531 | | Comprehensive Loss | $(30,292) | $(9,749) | $(112,773) | $(141,655) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Condensed Consolidated Statements of Cash Flows (in thousands) | Cash Flow Activity | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------ | :------------------------------ | | Net cash provided by operating activities | $70,011 | $32,151 | | Net cash (used in) provided by investing activities | $(91,287) | $26,732 | | Net cash used in financing activities | $(10,408) | $(411,661) | | Effects of exchange rate changes on cash, cash equivalents and restricted cash | $4,510 | $15,596 | | Net decrease in cash, cash equivalents and restricted cash | $(27,174) | $(337,182) | | Cash, cash equivalents and restricted cash, end of period | $293,816 | $346,863 | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Changes in Stockholders' Equity (in thousands) | Metric | Balance September 30, 2024 | Net Loss | Stock-based Compensation | Net Investment Hedge Currency Translation Adjustment | Foreign Currency Translation Adjustments | Balance June 30, 2025 | | :------------------------------------ | :------------------------- | :--------- | :----------------------- | :-------------------------------------------- | :--------------------------------------- | :-------------------- | | Total Equity | $1,768,967 | $(106,602) | $15,887 | $(39,744) | $33,462 | $1,673,634 | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) [Note 1. Nature of Operations](index=12&type=section&id=1.%20Nature%20of%20Operations) - Azenta, Inc. is a global provider of biological and chemical compound sample exploration and management solutions for the life sciences industry, offering sample management, automated storage, and genomic services[33](index=33&type=chunk) - The Company announced a plan to sell its B Medical Systems business in Q1 fiscal year 2025 to simplify its portfolio and focus on core businesses, classifying this business as 'held for sale' and 'discontinued operations'[34](index=34&type=chunk)[35](index=35&type=chunk) - Discontinued operations also include a loss contingency related to the sale of the semiconductor automation business in February 2022, with an accrued liability of **$2.1 million** as of June 30, 2025[36](index=36&type=chunk)[58](index=58&type=chunk) [Note 2. Summary of Significant Accounting Policies](index=12&type=section&id=2.%20Summary%20of%20Significant%20Accounting%20Policies) - The Company revised its Condensed Consolidated Statements of Cash Flows for prior periods (FY2023 and interim FY2024) to correct immaterial classification errors, primarily related to the effects of exchange rate changes on foreign denominated cash and cash equivalents[40](index=40&type=chunk)[41](index=41&type=chunk) - Net foreign currency transaction and remeasurement losses were **$0.2 million** and **$0.5 million** for the three months ended June 30, 2025 and 2024, respectively, and **$1.3 million** and **$1.5 million** for the nine months ended June 30, 2025 and 2024, respectively[44](index=44&type=chunk) - The Company does not expect the adoption of new accounting standards (ASU 2023-07 Segment Reporting, ASU 2023-09 Income Taxes, Pillar 2 global minimum tax) to have a material impact on its financial statements in the near term, with ASU 2024-03 (Expense Disaggregation) still under evaluation[45](index=45&type=chunk)[46](index=46&type=chunk)[47](index=47&type=chunk)[48](index=48&type=chunk) [Note 3. Discontinued Operations](index=15&type=section&id=3.%20Discontinued%20Operations) - The Company recorded an additional **$68.8 million** loss on assets held for sale for the B Medical Systems business during the three months ended June 30, 2025, bringing the total loss to **$93.0 million** for the nine months ended June 30, 2025[53](index=53&type=chunk)[55](index=55&type=chunk) Financial Results of B Medical Systems Business (Discontinued Operations, in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Total Revenue | $16,302 | $28,517 | $51,099 | $63,888 | | Gross Profit | $4,909 | $3,578 | $13,445 | $6,068 | | Operating Loss | $(72,774) | $(7,647) | $(105,855) | $(140,821) | | Loss from Discontinued Operations, net of tax | $(53,187) | $(6,424) | $(78,997) | $(135,634) | Carrying Value of B Medical Systems Assets and Liabilities Held for Sale (in thousands) | Category | June 30, 2025 | September 30, 2024 | | :------------------------------------ | :------------ | :----------------- | | Current Assets Held for Sale | $77,025 | $88,894 | | Noncurrent Assets Held for Sale | $85,479 | $173,794 | | Current Liabilities Held for Sale | $31,715 | $30,050 | | Noncurrent Liabilities Held for Sale | $17,091 | $42,196 | - The Company accrued an additional **$0.4 million** liability for the 2020 Claim related to the semiconductor cryogenics business sale, resulting in a total accrual of **$2.1 million** as of June 30, 2025[58](index=58&type=chunk) [Note 4. Marketable Securities](index=19&type=section&id=4.%20Marketable%20Securities) Sales and Maturities of Marketable Securities (in thousands) | Period | Sales and Maturities | | :------------------------------------ | :------------------- | | Three Months Ended June 30, 2025 | $57,900 | | Three Months Ended June 30, 2024 | $241,000 | | Nine Months Ended June 30, 2025 | $242,500 | | Nine Months Ended June 30, 2024 | $431,500 | Marketable Securities Amortized Cost and Fair Value (in thousands) | Category | June 30, 2025 Amortized Cost | June 30, 2025 Fair Value | September 30, 2024 Amortized Cost | September 30, 2024 Fair Value | | :------------------------------------ | :--------------------------- | :----------------------- | :-------------------------------- | :------------------------------ | | U.S. Treasury securities and obligations of U.S. government agencies | $255,091 | $254,993 | $118,159 | $118,091 | | Bank certificates of deposit | $1,234 | $1,234 | $5,212 | $5,200 | | Corporate securities | $3,782 | $3,782 | $77,580 | $77,325 | | Municipal securities | $10,932 | $10,976 | - | - | | Total | $271,039 | $270,985 | $200,951 | $200,616 | - Unrealized losses on fixed-income securities are primarily due to changes in interest rates, but the Company does not believe they represent impairments[65](index=65&type=chunk) [Note 5. Derivative Instruments](index=20&type=section&id=5.%20Derivative%20Instruments) Realized Losses on Undesignated Derivatives (in thousands) | Period | Realized Losses | | :------------------------------------ | :------------------- | | Three Months Ended June 30, 2025 | $(4,242) | | Three Months Ended June 30, 2024 | $(415) | | Nine Months Ended June 30, 2025 | $(4,246) | | Nine Months Ended June 30, 2024 | $(2,202) | Notional Amounts of Derivative Instruments (in thousands) | Instrument | June 30, 2025 | September 30, 2024 | | :------------------------------------ | :------------ | :----------------- | | Cross-currency swap (Net Investment Hedge) | $260,025 | $75,978 | | Foreign exchange contracts (Undesignated) | $46,975 | $60,101 | - The Company entered into a new cross-currency swap agreement on February 3, 2025, notionally exchanging **$260.0 million** for **€250.0 million** to hedge net investments against a Euro-denominated subsidiary, maturing on February 2, 2026[69](index=69&type=chunk) - Interest income from cross-currency swaps was **$1.2 million** and **$0.3 million** for the three months ended June 30, 2025 and 2024, respectively, and **$2.2 million** and **$3.4 million** for the nine months ended June 30, 2025 and 2024, respectively[72](index=72&type=chunk) [Note 6. Goodwill and Intangible Assets](index=21&type=section&id=6.%20Goodwill%20and%20Intangible%20Assets) - The Company performed an interim quantitative goodwill impairment test as of June 30, 2025, and concluded there was no impairment to goodwill for its Sample Management Solutions (SMS) and Multiomics reporting units[73](index=73&type=chunk)[74](index=74&type=chunk) Changes in Carrying Amount of Goodwill by Segment (in thousands) | Segment | Balance - October 1, 2024 | Currency Translation Adjustments | Balance - June 30, 2025 | | :------------------------------------ | :-------------------------- | :------------------------------- | :-------------------- | | Sample Management Solutions | $494,649 | $12,205 | $506,854 | | Multiomics | $196,760 | — | $196,760 | | Total | $691,409 | $12,205 | $703,614 | Identifiable Intangible Assets (Net Book Value, in thousands) | Category | June 30, 2025 Net Book Value | September 30, 2024 Net Book Value | | :------------------------------------ | :----------------------------- | :-------------------------------- | | Completed technology | $50,270 | $54,758 | | Trademarks and trade names | $463 | $531 | | Customer relationships | $57,403 | $69,753 | | Total | $108,136 | $125,042 | - Amortization expenses for intangible assets were **$6.2 million** and **$7.2 million** for the three months ended June 30, 2025 and 2024, respectively, and **$18.4 million** and **$21.6 million** for the nine months ended June 30, 2025 and 2024, respectively[77](index=77&type=chunk) [Note 7. Restructuring](index=22&type=section&id=7.%20Restructuring) - The Company continued its 2024 Restructuring Plan, focusing on facilities consolidation, portfolio optimization, and organization structure simplification, with completion expected by the end of fiscal year 2025[79](index=79&type=chunk) Restructuring Charges (in thousands) | Category | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Severance and related costs | $971 | $852 | $4,740 | $3,625 | | ROU asset abandonment | — | — | — | $901 | | Other | $(217) | $849 | $25 | $1,389 | | Total Restructuring Charges | $754 | $1,701 | $4,765 | $5,915 | - The majority of 2025 restructuring expenses are severance and related costs, with **$0.3 million** for SMS and **$0.4 million** for Multiomics in the three months ended June 30, 2025[80](index=80&type=chunk) [Note 8. Supplementary Balance Sheet Information](index=23&type=section&id=8.%20Supplementary%20Balance%20Sheet%20Information) Inventories (in thousands) | Category | June 30, 2025 | September 30, 2024 | | :------------------------------------ | :------------ | :----------------- | | Raw materials and purchased parts | $35,796 | $34,134 | | Work-in-process | $6,056 | $8,402 | | Finished goods | $38,654 | $36,387 | | Total Inventories | $80,506 | $78,923 | | Inventory reserves | $8,500 | $6,100 | Product and Warranty Retrofit Activity (in thousands) | Metric | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------ | :------------------------------ | | Balance at beginning of period | $5,213 | $3,974 | | Accruals for warranties during the period | $587 | $1,939 | | Costs incurred during the period | $(427) | $(1,184) | | Balance at end of period | $5,373 | $4,729 | [Note 9. Stockholders' Equity](index=24&type=section&id=9.%20Stockholders'%20Equity) - The Company completed its **$1.5 billion** 2022 Repurchase Authorization by September 30, 2024, repurchasing **30.0 million** shares, and made an **$11.4 million** excise tax payment related to these repurchases during the nine months ended June 30, 2025[86](index=86&type=chunk)[87](index=87&type=chunk) Components of Accumulated Other Comprehensive Income (Loss) (in thousands) | Component | Balance at September 30, 2024 | Other comprehensive income (loss) before reclassifications (9M 2025) | Amounts reclassified (9M 2025) | Balance at June 30, 2025 | | :------------------------------------ | :---------------------------- | :----------------------------------------------------------------- | :----------------------------- | :----------------------- | | Currency Translation Adjustments | $(34,170) | $33,462 | — | $(708) | | Unrealized Gains (Losses) on Available-for-Sale Securities | $(263) | $262 | — | $(1) | | Gains (Losses) on Derivative Net of tax | $21,468 | $(39,744) | — | $(18,276) | | Pension Liability Adjustments Net of tax | $(499) | $(205) | $54 | $(650) | | Total | $(13,464) | $(6,225) | $54 | $(19,635) | [Note 10. Revenue from Contracts with Customers](index=25&type=section&id=10.%20Revenue%20from%20Contracts%20with%20Customers) Revenue by Significant Business Line (in thousands) | Business Line | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Multiomics | $66,235 | $63,619 | $196,054 | $188,556 | | Core Products | $45,750 | $49,440 | $143,418 | $143,170 | | Sample Repository Services | $31,957 | $31,233 | $95,398 | $90,646 | | Total Revenue | $143,942 | $144,292 | $434,870 | $422,372 | - Accounts receivable, net, decreased from **$156.3 million** at September 30, 2024, to **$124.5 million** at June 30, 2025[91](index=91&type=chunk) - Contract assets increased from **$28.9 million** at September 30, 2024, to **$40.1 million** at June 30, 2025, while contract liabilities increased from **$30.5 million** to **$40.0 million** over the same period[92](index=92&type=chunk)[93](index=93&type=chunk) - Remaining performance obligations totaled **$76.2 million** as of June 30, 2025, with **$55.2 million** expected to be recognized within one year and **$21.0 million** after one year[94](index=94&type=chunk) [Note 11. Stock-Based Compensation](index=26&type=section&id=11.%20Stock-Based%20Compensation) Total Stock-Based Compensation Expense for Continuing Operations (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Restricted stock units | $1,973 | $3,381 | $14,408 | $11,122 | | Employee stock purchase plan | $242 | $310 | $711 | $980 | | Total | $2,215 | $3,691 | $15,119 | $12,102 | - As of June 30, 2025, the future unrecognized stock-based compensation expense related to restricted stock units for continuing operations is **$25.5 million**, expected to be recognized over an estimated weighted average amortization period of **1.7 years**[98](index=98&type=chunk) - In October 2023, the Company amended performance goals for previously issued performance-based restricted stock units, leading to a total potential maximum compensation cost of **$3.3 million** recognized through November 2025[102](index=102&type=chunk) - In November 2024, the Company issued restricted stock unit awards with vesting based on market conditions (relative total shareholder return), with fair values estimated using the Monte Carlo simulation model[105](index=105&type=chunk) [Note 12. Fair Value Measurements](index=29&type=section&id=12.%20Fair%20Value%20Measurements) Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (in thousands) | Description | Total Fair Value (June 30, 2025) | Level 1 (June 30, 2025) | Level 2 (June 30, 2025) | Level 3 (June 30, 2025) | | :------------------------------------ | :------------------------------- | :---------------------- | :---------------------- | :---------------------- | | **Assets:** | | | | | | Cash equivalents | $141,537 | $141,035 | $502 | — | | Available-for-sale securities | $270,985 | $9,447 | $261,538 | — | | Investment in equity securities | $2,100 | — | — | $2,100 | | Foreign exchange contracts | $142 | — | $142 | — | | **Liabilities:** | | | | | | Net investment hedge | $34,656 | — | $34,656 | — | - Cash equivalents primarily consist of money market funds and U.S. government backed securities (Level 1) and debt securities/bank certificates of deposit (Level 2)[109](index=109&type=chunk) - Available-for-sale securities include highly rated corporate debt and U.S. government backed securities (Level 1) and debt securities/bank certificates of deposit valued using matrix pricing (Level 2)[110](index=110&type=chunk) - The Company's investment in preferred stock of a private company (converted from convertible notes) is valued at **$2.1 million** and classified as Level 3 due to unobservable inputs[112](index=112&type=chunk) [Note 13. Income Taxes](index=32&type=section&id=13.%20Income%20Taxes) Income Tax Expense (in thousands) | Period | Income Tax Expense | | :------------------------------------ | :------------------- | | Three Months Ended June 30, 2025 | $2,758 | | Nine Months Ended June 30, 2025 | $14,007 | | Three Months Ended June 30, 2024 | $600 | | Nine Months Ended June 30, 2024 | $3,220 | - The nine-month tax expense for 2025 was primarily driven by a **$6.5 million** tax expense related to a change in indefinite reinvestment assertion and the repatriation of cash from a China subsidiary[116](index=116&type=chunk)[121](index=121&type=chunk) - The Company maintains a valuation allowance against U.S. deferred tax assets due to U.S. pre-tax losses and expects a **$22 million** valuation allowance for fiscal year 2025[119](index=119&type=chunk) [Note 14. Net Income (Loss) per Share](index=33&type=section&id=14.%20Net%20Income%20(Loss)%20per%20Share) Net Income (Loss) per Share (in thousands, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Income (loss) from continuing operations | $680 | $(158) | $(26,926) | $(23,552) | | Loss from discontinued operations, net of tax | $(53,486) | $(6,424) | $(79,676) | $(135,634) | | Net loss | $(52,806) | $(6,582) | $(106,602) | $(159,186) | | Basic net loss per share | $(1.15) | $(0.12) | $(2.33) | $(2.90) | | Diluted net loss per share | $(1.15) | $(0.12) | $(2.33) | $(2.90) | | Weighted average common shares outstanding (Basic) | 45,780 | 52,963 | 45,712 | 54,914 | | Weighted average common shares outstanding (Diluted) | 45,823 | 52,963 | 45,712 | 54,914 | [Note 15. Segment and Geographic Information](index=33&type=section&id=15.%20Segment%20and%20Geographic%20Information) - The Company's continuing operations consist of two operating and reportable segments: Sample Management Solutions (SMS) and Multiomics[128](index=128&type=chunk)[131](index=131&type=chunk) Segment Revenue and Adjusted Operating Income (Loss) (in thousands) | Segment | Three Months Ended June 30, 2025 Revenue | Three Months Ended June 30, 2024 Revenue | Nine Months Ended June 30, 2025 Revenue | Nine Months Ended June 30, 2024 Revenue | Three Months Ended June 30, 2025 Adjusted Operating Income (Loss) | Three Months Ended June 30, 2024 Adjusted Operating Income (Loss) | Nine Months Ended June 30, 2025 Adjusted Operating Income (Loss) | Nine Months Ended June 30, 2024 Adjusted Operating Income (Loss) | | :------------------------------------ | :--------------------------------------- | :--------------------------------------- | :-------------------------------------- | :-------------------------------------- | :--------------------------------------------------------------- | :--------------------------------------------------------------- | :-------------------------------------------------------------- | :-------------------------------------------------------------- | | Sample Management Solutions | $77,707 | $80,673 | $238,816 | $233,816 | $11,248 | $3,582 | $18,177 | $1,509 | | Multiomics | $66,235 | $63,619 | $196,054 | $188,556 | $(3,331) | $(592) | $(11,127) | $(6,736) | | Total Revenue / Segment Adjusted Operating Loss | $143,942 | $144,292 | $434,870 | $422,372 | $7,917 | $2,990 | $7,050 | $(5,227) | Revenue by Geographic Location (in thousands) | Geographic Location | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | United States | $87,833 | $95,037 | $271,244 | $272,898 | | China | $14,321 | $14,510 | $41,947 | $43,054 | | United Kingdom | $9,370 | $8,086 | $25,252 | $19,387 | | Rest of Europe | $25,430 | $21,370 | $75,009 | $66,493 | | Asia Pacific/Other | $6,988 | $5,289 | $21,418 | $20,540 | | Total Revenue | $143,942 | $144,292 | $434,870 | $422,372 | [Note 16. Commitments and Contingencies](index=36&type=section&id=16.%20Commitments%20and%20Contingencies) - The Company is subject to various legal proceedings but believes no new material provision for liability or disclosure is required as of June 30, 2025, for continuing operations[133](index=133&type=chunk) - In July 2024, the Company paid approximately **$2.5 million** in tariffs and interest related to imports from its GENEWIZ business into the United States for the period from December 2021 to July 2024[134](index=134&type=chunk) - As of June 30, 2025, the Company had non-cancellable commitments totaling **$48.7 million**, including **$37.3 million** for inventory purchase orders and **$11.4 million** for other operating expenses[135](index=135&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=37&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on Azenta, Inc.'s financial condition and results of operations for the three and nine months ended June 30, 2025, compared to the corresponding periods in 2024, covering business overview, strategic decisions, detailed financial performance by segment, critical accounting policies, and an analysis of liquidity and capital resources [Overview](index=37&type=section&id=Overview) - Azenta is a leading global provider of biological and chemical compound sample exploration and management solutions for the life sciences industry, with approximately **3,000 employees** and sales in **92 countries**[139](index=139&type=chunk) - The Company is pursuing the sale of its B Medical Systems business to simplify its portfolio and focus on core Sample Management Solutions (SMS) and Multiomics segments[138](index=138&type=chunk) - The Sample Management Solutions segment offers end-to-end sample management products and services, including Sample Repository Services and Core Products (Automated Stores, Cryogenic Systems, etc.)[142](index=142&type=chunk) - The Multiomics segment provides genomic services such as gene sequencing, synthesis, and editing, supporting research and development in life sciences[143](index=143&type=chunk) [Business and Financial Performance](index=38&type=section&id=Business%20and%20Financial%20Performance) Key Financial Performance (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Revenue | $143,942 | $144,292 | $434,870 | $422,372 | | Gross profit | $67,760 | $65,478 | $202,317 | $187,885 | | Operating loss | $(714) | $(7,106) | $(28,218) | $(47,564) | | Net loss | $(52,806) | $(6,582) | $(106,602) | $(159,186) | - Revenue was flat for the three months ended June 30, 2025, but increased **3%** for the nine months, driven by Multiomics growth and strong Sample Repository Solutions performance[146](index=146&type=chunk) - Gross margin increased to **47%** for both the three and nine months ended June 30, 2025, from **45%** and **44%** respectively, primarily due to operational efficiencies and favorable sales mix[146](index=146&type=chunk) - Net loss from discontinued operations was significantly higher in Q3 2025 (**$53.5 million**) compared to Q3 2024 (**$6.4 million**), primarily due to a loss on assets held for sale[146](index=146&type=chunk) [Critical Accounting Policies and Estimates](index=39&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) - The preparation of financial statements requires management to make estimates and judgments, which are evaluated on an ongoing basis[147](index=147&type=chunk) - There have been no material changes to the Company's critical accounting policies or estimates from those set forth in its 2024 Annual Report on Form 10-K[148](index=148&type=chunk) [Results of Operations](index=39&type=section&id=Results%20of%20Operations) [Non-GAAP Financial Measures](index=39&type=section&id=Non-GAAP%20Financial%20Measures) - Management uses non-GAAP financial measures, adjusting GAAP results for items like amortization, transformation costs, and restructuring charges, to provide investors with a better perspective on operations comparable to peers[150](index=150&type=chunk) [Revenue](index=40&type=section&id=Revenue) Revenue by Segment (in thousands, except percentages) | Segment | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | % Change 2025 v. 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | % Change 2025 v. 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :-------------------- | :------------------------------ | :------------------------------ | :-------------------- | | Sample Management Solutions | $77,707 | $80,673 | (3.7)% | $238,816 | $233,816 | 2.1% | | Multiomics | $66,235 | $63,619 | 4.1% | $196,054 | $188,556 | 4.0% | | Total Revenue | $143,942 | $144,292 | (0.2)% | $434,870 | $422,372 | 3.0% | - Sample Management Solutions revenue decreased **4%** in the three months ended June 30, 2025, due to lower Core Products revenue (Automated Stores and Cryogenic Systems), but increased **2%** for the nine months due to Sample Repository Services growth[151](index=151&type=chunk) - Multiomics segment revenue increased approximately **4%** for both the three and nine months ended June 30, 2025, driven by Next Generation Sequencing services, partially offset by declines in Gene Synthesis and Sanger sequencing[152](index=152&type=chunk) - Revenue generated outside the United States increased to **39.0%** and **37.6%** of total revenue for the three and nine months ended June 30, 2025, respectively, compared to **34.1%** and **35.4%** in the prior year periods[153](index=153&type=chunk) [Operating Income (Loss)](index=40&type=section&id=Operating%20Income%20(Loss)) Segment Operating Income (Loss) and Adjusted Operating Income (Loss) (in thousands) | Segment | Three Months Ended June 30, 2025 Operating Income (Loss) | Three Months Ended June 30, 2024 Operating Income (Loss) | Nine Months Ended June 30, 2025 Operating Income (Loss) | Nine Months Ended June 30, 2024 Operating Income (Loss) | Three Months Ended June 30, 2025 Adjusted Operating Income (Loss) | Three Months Ended June 30, 2024 Adjusted Operating Income (Loss) | Nine Months Ended June 30, 2025 Adjusted Operating Income (Loss) | Nine Months Ended June 30, 2024 Adjusted Operating Income (Loss) | | :------------------------------------ | :------------------------------------------------------- | :------------------------------------------------------- | :------------------------------------------------------ | :------------------------------------------------------ | :--------------------------------------------------------------- | :--------------------------------------------------------------- | :-------------------------------------------------------------- | :-------------------------------------------------------------- | | Sample Management Solutions | $9,834 | $2,647 | $11,963 | $(1,733) | $11,248 | $3,582 | $18,177 | $1,509 | | Multiomics | $(4,191) | $(1,630) | $(13,710) | $(9,853) | $(3,331) | $(592) | $(11,127) | $(6,736) | - Sample Management Solutions operating income increased significantly, driven by gross margin expansion, despite increased transformation costs[158](index=158&type=chunk) - Multiomics segment operating loss increased, primarily due to lower revenue from Gene Synthesis and Sanger sequencing services, partially offset by Next Generation Sequencing growth[159](index=159&type=chunk) [Gross Margin](index=43&type=section&id=Gross%20Margin) Segment Gross Margin and Adjusted Gross Margin (in percentages) | Segment | Three Months Ended June 30, 2025 Gross Margin | Three Months Ended June 30, 2024 Gross Margin | Nine Months Ended June 30, 2025 Gross Margin | Nine Months Ended June 30, 2024 Gross Margin | Three Months Ended June 30, 2025 Adjusted Gross Margin | Three Months Ended June 30, 2024 Adjusted Gross Margin | Nine Months Ended June 30, 2025 Adjusted Gross Margin | Nine Months Ended June 30, 2024 Adjusted Gross Margin | | :------------------------------------ | :-------------------------------------------- | :-------------------------------------------- | :------------------------------------------- | :------------------------------------------- | :------------------------------------------------------ | :------------------------------------------------------ | :----------------------------------------------------- | :----------------------------------------------------- | | Sample Management Solutions | 52.0% | 45.0% | 48.9% | 43.8% | 53.6% | 46.1% | 50.3% | 45.2% | | Multiomics | 41.3% | 45.9% | 43.6% | 45.3% | 42.6% | 47.5% | 44.9% | 46.9% | | Azenta Total | 47.1% | 45.4% | 46.5% | 44.5% | 48.5% | 46.7% | 47.9% | 46.0% | - Sample Management Solutions gross margin and adjusted gross margin increased due to operational efficiencies and a favorable sales mix[161](index=161&type=chunk) - Multiomics segment gross margin and adjusted gross margin decreased, primarily driven by lower revenue from Gene Synthesis and Sanger sequencing services[162](index=162&type=chunk) [Research and Development Expenses](index=44&type=section&id=Research%20and%20Development%20Expenses) Research and Development Expenses (in thousands, except percentages) | Metric | Three Months Ended June 30, 2025 | % of Revenue | Three Months Ended June 30, 2024 | % of Revenue | Nine Months Ended June 30, 2025 | % of Revenue | Nine Months Ended June 30, 2024 | % of Revenue | | :------------------------------------ | :------------------------------- | :----------- | :------------------------------- | :----------- | :------------------------------ | :----------- | :------------------------------ | :----------- | | Total research and development expense | $6,685 | 4.6% | $6,911 | 4.8% | $19,934 | 4.6% | $21,957 | 5.2% | - Total R&D expenses decreased by **$0.2 million** (3 months) and **$2.0 million** (9 months) year-over-year, driven by cost reduction initiatives, primarily decreased compensation and benefits[163](index=163&type=chunk) [Selling, General and Administrative Expenses](index=44&type=section&id=Selling,%20General%20and%20Administrative%20Expenses) Selling, General and Administrative Expenses (in thousands, except percentages) | Metric | Three Months Ended June 30, 2025 | % of Revenue | Three Months Ended June 30, 2024 | % of Revenue | Nine Months Ended June 30, 2025 | % of Revenue | Nine Months Ended June 30, 2024 | % of Revenue | | :------------------------------------ | :------------------------------- | :----------- | :------------------------------- | :----------- | :------------------------------ | :----------- | :------------------------------ | :----------- | | Total selling, general and administrative expense | $61,035 | 42.4% | $63,972 | 44.3% | $205,836 | 47.3% | $202,919 | 48.0% | - Total SG&A expenses decreased by **$2.9 million** for the three months ended June 30, 2025, primarily due to decreased compensation and benefits expense[164](index=164&type=chunk) - Total SG&A expenses increased by **$2.9 million** for the nine months ended June 30, 2025, primarily due to higher stock-based compensation and one-time costs related to leadership changes, partially offset by decreased compensation and benefits[164](index=164&type=chunk) [Restructuring Charges](index=45&type=section&id=Restructuring%20Charges) - Restructuring charges decreased by **$0.9 million** to **$0.8 million** for the three months ended June 30, 2025, and by **$1.2 million** to **$4.8 million** for the nine months ended June 30, 2025, compared to the prior year periods[165](index=165&type=chunk) [Non-Operating Income](index=45&type=section&id=Non-Operating%20Income) Interest Income, Net (in thousands) | Period | Interest Income, Net | | :------------------------------------ | :------------------- | | Three Months Ended June 30, 2025 | $5,000 | | Three Months Ended June 30, 2024 | $7,900 | | Nine Months Ended June 30, 2025 | $13,800 | | Nine Months Ended June 30, 2024 | $27,400 | - The decrease in interest income year over year is due to decreased investments in marketable securities[166](index=166&type=chunk) - Other income (expense), net, was an expense of **$0.8 million** for the three months ended June 30, 2025, and income of **$1.5 million** for the nine months, with the increase primarily from foreign exchange gains and a **$2.1 million** gain from a cost method investment[167](index=167&type=chunk) [Income Tax Expense](index=45&type=section&id=Income%20Tax%20Expense) Income Tax Expense (in thousands) | Period | Income Tax Expense | | :------------------------------------ | :------------------- | | Three Months Ended June 30, 2025 | $2,800 | | Nine Months Ended June 30, 2025 | $14,000 | | Three Months Ended June 30, 2024 | $600 | | Nine Months Ended June 30, 2024 | $3,200 | - The 2025 tax expense was primarily driven by a **$6.5 million** charge related to a change in indefinite reinvestment assertion and the expectation to repatriate cash from a China subsidiary, along with profits in foreign jurisdictions and a U.S. valuation allowance[168](index=168&type=chunk) - The Company does not expect the recently signed 'One Big Beautiful Bill Act' to have a significant near-term effect on its effective tax rate or cash flows[170](index=170&type=chunk) [Discontinued Operations](index=45&type=section&id=Discontinued%20Operations) Revenue and Loss from Discontinued Operations (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Revenue from discontinued operations | $16,300 | $28,500 | $51,100 | $63,900 | | Loss from discontinued operations, net of tax | $53,500 | $6,400 | $79,700 | $135,600 | - The significant loss from discontinued operations in 2025 was primarily driven by the loss on assets held for sale related to the B Medical Systems business, while in 2024 it was due to goodwill impairment[171](index=171&type=chunk) [Liquidity and Capital Resources](index=46&type=section&id=Liquidity%20and%20Capital%20Resources) Cash, Cash Equivalents, Restricted Cash, and Marketable Securities (in thousands) | Metric | June 30, 2025 | September 30, 2024 | | :------------------------------------ | :------------ | :----------------- | | Cash and cash equivalents | $270,040 | $280,030 | | Restricted cash | $8,776 | $10,061 | | Short-term marketable securities | $48,817 | $151,162 | | Long-term marketable securities | $222,168 | $49,454 | | Total | $549,801 | $490,707 | - The Company believes its current cash and cash equivalents are sufficient to fund operating expenses and capital expenditures for at least one year[172](index=172&type=chunk) - Cash inflows from operating activities for the nine months ended June 30, 2025, were **$70.0 million**, primarily due to increased revenue, collections, and an **$11.5 million** U.S. federal tax refund[174](index=174&type=chunk) - The Company had **$121.9 million** of cash, cash equivalents, and restricted cash held outside the U.S. as of June 30, 2025, including **$23 million** in China, with a plan to repatriate cash from China and a **$6.5 million** tax provision for this plan[173](index=173&type=chunk) - As of June 30, 2025, the Company had no outstanding debt and non-cancellable commitments of **$48.7 million**[175](index=175&type=chunk)[176](index=176&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=47&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section outlines Azenta, Inc.'s exposure to market risks, specifically focusing on interest rate fluctuations affecting its cash and investments, and foreign currency exchange rate changes impacting its international transactions and balances, quantifying the potential impact of hypothetical changes in these market factors on the company's financial performance - A hypothetical **100 basis point** change in interest rates would result in a **$2.7 million** and **$6.1 million** change in interest income earned during the nine months ended June 30, 2025 and 2024, respectively[178](index=178&type=chunk) - Sales in currencies other than the U.S. dollar were approximately **34%** and **29%** of total sales during the nine months ended June 30, 2025 and 2024, respectively[179](index=179&type=chunk) - Liquid assets denominated in non-functional currencies (primarily Euro and British Pound) were **$50.7 million** at June 30, 2025, with foreign currency losses of **$1.3 million** and **$1.5 million** for the nine months ended June 30, 2025 and 2024, respectively[180](index=180&type=chunk) - A hypothetical **10%** change in foreign exchange rates as of June 30, 2025, would result in an approximate **$0.4 million** change in net loss during the nine months ended June 30, 2025[180](index=180&type=chunk) [Item 4. Controls and Procedures](index=47&type=section&id=Item%204.%20Controls%20and%20Procedures) This section details the evaluation of Azenta, Inc.'s disclosure controls and procedures, concluding they were not effective as of June 30, 2025, due to identified material weaknesses, specifically addressing a continuing material weakness related to the review of the cash flow statement and a new material weakness concerning the preparation and review of account reconciliations, with the company outlining its remediation plans for these control deficiencies - The Company's disclosure controls and procedures were not effective as of June 30, 2025, due to material weaknesses[181](index=181&type=chunk) - A material weakness related to the review of the cash flow statement, previously disclosed in the 2024 Annual Report on Form 10-K, continues to exist as of June 30, 2025[182](index=182&type=chunk) - An additional material weakness was identified during Q2 fiscal year 2025, concerning the design and maintenance of effective controls related to the preparation and review of account reconciliations[183](index=183&type=chunk) - Remediation plans include implementing a new cash flow reporting tool, new processes and controls for cash flow review, and for account reconciliations, designing enhanced controls, redesigning policy, and engaging outside consultants[185](index=185&type=chunk)[186](index=186&type=chunk) [PART II. OTHER INFORMATION](index=49&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, other information such as Rule 10b5-1 trading arrangements and personnel appointments, and a list of exhibits [Item 1. Legal Proceedings](index=49&type=section&id=Item%201.%20Legal%20Proceedings) This section states that Azenta, Inc. is involved in various legal proceedings in the ordinary course of business, and while the ultimate outcome is unpredictable, the company believes that none of these current claims will have a material adverse effect on its consolidated financial condition or results of operations for continuing operations - The Company is subject to various legal proceedings arising in the ordinary course of business[190](index=190&type=chunk) - As of the filing date, the Company believes that none of these claims will have a material adverse effect on its consolidated financial condition or results of operations for continuing operations[190](index=190&type=chunk) [Item 1A. Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) This section refers readers to the risk factors previously disclosed in Azenta, Inc.'s 2024 Annual Report on Form 10-K and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, confirming that there have been no material changes to these risk factors - There have been no material changes to the risk factors disclosed in the 2024 Annual Report on Form 10-K and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2025[191](index=191&type=chunk) [Item 5. Other Information](index=49&type=section&id=Item%205.%20Other%20Information) This section provides updates on Rule 10b5-1 trading arrangements and a key personnel appointment, stating that no directors or officers adopted, modified, or terminated Rule 10b5-1 trading arrangements during the quarter, and announces the appointment of Lawrence Lin as the Principal Accounting Officer - No director or officer adopted, modified, or terminated a Rule 10b5-1 trading arrangement during the three months ended June 30, 2025[192](index=192&type=chunk) - Lawrence Lin, Executive Vice President and Chief Financial Officer, was appointed as the Company's Principal Accounting Officer, effective August 7, 2025[193](index=193&type=chunk) [Item 6. Exhibits](index=50&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed as part of the Quarterly Report on Form 10-Q, including severance agreements, certifications from the CEO and CFO, and financial statements formatted in iXBRL - Exhibits include severance agreements, certifications pursuant to the Sarbanes-Oxley Act, and financial statements formatted in iXBRL[195](index=195&type=chunk) [Signatures](index=51&type=section&id=Signatures) This section contains the official signatures of the authorized officers of Azenta, Inc., certifying the filing of the Quarterly Report on Form 10-Q - The report was signed by Lawrence Lin, Executive Vice President and Chief Financial Officer, and Violetta A. Hughes, Vice President and Chief Accounting Officer, on August 6, 2025[199](index=199&type=chunk)

Core Insights - Azenta reported third-quarter fiscal 2025 results with non-GAAP profitability exceeding expectations, while GAAP revenue remained flat and fell short of analyst forecasts [1][5][10] Financial Performance - Non-GAAP diluted EPS from continuing operations was $0.19, surpassing the consensus estimate of $0.14, reflecting a year-over-year increase of 35.7% [2][5] - GAAP revenue was $144 million, unchanged from the previous year and $5.38 million below the estimated $149.38 million [1][2] - Non-GAAP adjusted EBITDA was $18 million, marking a 28.6% increase year-over-year, with an adjusted EBITDA margin of 12.3%, up 260 basis points [2][5] - Non-GAAP gross margin improved to 48.5%, an increase of 1.8 percentage points from the previous year [2][5] Business Segments - The Sample Management Solutions (SMS) segment experienced a 4% revenue decline to $78 million, with organic sales down 6% year-over-year, primarily due to weaker demand for core products [6][11] - The Multiomics segment, which includes genomic analysis tools, achieved 4% growth year-over-year, reaching $66 million in revenue, driven by strong demand for Next Generation Sequencing (NGS) [7][11] Strategic Focus - Azenta has transitioned to a pure-play life sciences operation, focusing on sample management and genomics services, following the divestment of its semiconductor business [3][4] - The company serves over 14,000 customers across more than 120 countries, aligning its operations with industry trends favoring personalized medicine and secure biological sample storage [4][11] Outlook - Management maintained guidance for fiscal 2025, projecting organic revenue growth of 3% to 5% and an adjusted EBITDA margin increase of approximately 300 basis points [10][11] - The company plans to utilize its cash reserves for strategic investments, selective acquisitions, and operational enhancements, with share buybacks being a lesser priority [8][10]

Financial Data and Key Metrics Changes - In Q3 2025, total revenue was $144 million, flat year over year on a reported basis and down 2% on an organic basis [17][19] - Adjusted EBITDA margin expanded by approximately 260 basis points year over year to 12.3%, reflecting operational turnaround efforts [9][18] - Free cash flow for the quarter was $15 million, driven primarily by improved working capital [18] Business Line Data and Key Metrics Changes - Sample Management Solutions (SMS) revenue was $78 million, down 4% year over year on a reported basis and down 6% on an organic basis, primarily due to softer bookings and timing delays [20] - Multiomics segment delivered revenue of $66 million, up 4% on a reported basis and up 3% on an organic basis, driven by growth in next-generation sequencing [21][22] - Non-GAAP gross margin for SMS was 53.6%, up 760 basis points year over year, while Multiomics gross margin was 42.6%, down approximately 500 basis points year over year [20][23] Market Data and Key Metrics Changes - China posted 10% organic growth in the Multiomics segment despite macro and geopolitical headwinds [22] - The company anticipates a 1% headwind to full year 2025 revenue due to reductions in NIH funding levels [10][90] Company Strategy and Development Direction - The company is focused on long-term value creation and operational turnaround, with key growth priorities including strengthening commercial excellence and investing in R&D [6][7] - The Azenta Business System (ABS) is being leveraged to enhance operational efficiency and drive growth [8][68] - The company plans to prioritize investments in gross margin productivity, organic growth offerings, and strategic M&A opportunities [12] Management's Comments on Operating Environment and Future Outlook - Management remains committed to full year 2025 guidance of organic revenue growth between 3% to 5% and adjusted EBITDA margin expansion of 300 basis points [9][25] - The company is optimistic about capitalizing on opportunities arising from the current dynamic environment [11] - Management noted that the operational improvements have allowed them to reaffirm guidance despite external challenges [11] Other Important Information - The company ended the quarter with $550 million in cash and no outstanding debt, positioning it well for future investments [12][24] - An Investor Day is planned for later in the calendar year to discuss achievements and outlook [13] Q&A Session Summary Question: Guidance for fiscal 2025 and thoughts on fiscal 2026 - Management indicated confidence in a step-up in Q4 due to momentum in NGS and sufficient backlog, with a commitment to 5% to 8% CAGR for fiscal 2026 [29][34] Question: Weakness in SMS core products - Management clarified that there are no cancellations, but orders are being pushed out due to capital equipment purchase delays [35][36] Question: Gene synthesis headwinds - Management noted softness in gene synthesis from pharma accounts but expects improvements in Q4 [39][40] Question: Q4 revenue expectations - Management highlighted a seasonal step-up from Q3 to Q4 and strong funnel visibility, indicating confidence in achieving revenue targets [44][46] Question: Leadership changes impact - Management discussed new commercial leadership in North America and positive early signs from the regional model [48][50] Question: M&A funnel focus - Management emphasized a disciplined approach to M&A, focusing on core biorepositories and multiomics opportunities [52][54] Question: NIH funding headwinds - Management maintained a consistent view on NIH funding as a 1% headwind but expressed optimism about potential increases in funding [89][90]

[Executive Summary](index=1&type=section&id=Executive%20Summary) Azenta reported flat Q3 FY2025 revenue from continuing operations, with margin expansion and improved Non-GAAP EPS, driven by operational turnaround and cost management [Q3 FY2025 Highlights](index=1&type=section&id=Q3%20FY2025%20Highlights) Azenta reported flat revenue from continuing operations year-over-year for Q3 FY2025, with organic revenue declining 2%. Multiomics revenue grew 4% while Sample Management Solutions revenue decreased by 4%. The company achieved significant margin expansion and improved Non-GAAP Diluted EPS and Adjusted EBITDA Metric (Continuing Operations) | Metric (Continuing Operations) | June 30, 2025 | March 31, 2025 | June 30, 2024 | Change Prior Qtr | Change Prior Yr. | | :------------------------------ | :------------ | :------------- | :------------ | :--------------- | :--------------- | | Revenue ($ millions) | 144 | 143 | 144 | 0% | (0)% | | Organic growth | | | | | (2)% | | Sample Management Solutions ($ millions) | 78 | 80 | 81 | (3)% | (4)% | | Multiomics ($ millions) | 66 | 64 | 64 | 4% | 4% | | Diluted EPS | 0.01 | (0.40) | (0.00) | NM | NM | | Non-GAAP Diluted EPS | 0.19 | 0.05 | 0.14 | NM | 31% | | Adjusted EBITDA ($ millions) | 18 | 14 | 14 | 24% | 27% | | Adjusted EBITDA Margin | 12.3% | 10.0% | 9.7% | | | - **B Medical Systems results** are treated as discontinued operations following the company's intention to pursue a sale, impacting total diluted EPS[2](index=2&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) The CEO highlighted significant organizational changes and operational turnaround progress, achieving meaningful margin expansion through cost management despite a challenging macro environment. The company maintains a strong balance sheet and solid cash flow, remaining on track for full-year goals and confident in its long-term strategy - Operational turnaround is progressing as planned, driving **meaningful margin expansion** through disciplined cost management and focused execution[4](index=4&type=chunk) - **Strong balance sheet** and **solid cash flow** position the company to capitalize on future opportunities[4](index=4&type=chunk) - Company remains on track to meet **full-year goals for fiscal 2025**, confident in the foundation for long-term strategy[4](index=4&type=chunk) [Financial Performance (Continuing Operations)](index=1&type=section&id=Financial%20Performance%20(Continuing%20Operations)) Azenta's Q3 FY2025 saw flat revenue but improved GAAP operating loss and strong Non-GAAP earnings, reflecting effective cost management and operational efficiencies [Q3 FY2025 Revenue Breakdown](index=1&type=section&id=Q3%20FY2025%20Revenue%20Breakdown) Total revenue from continuing operations was flat year-over-year at $144 million, with organic revenue declining 2%. This was due to a decrease in Sample Management Solutions revenue, offset by growth in Multiomics revenue - Total revenue was **$144 million**, flat year over year, with **organic revenue declining 2%**[5](index=5&type=chunk) - **Sample Management Solutions Revenue:** **$78 million**, down **4%** year over year[5](index=5&type=chunk) - Organic revenue declined **6%**, primarily due to lower revenues in Core Products (Automated Stores and Cryogenic Systems), partially offset by growth in Sample Storage, Clinical Biostores, and Product Services[5](index=5&type=chunk) - **Multiomics Revenue:** **$66 million**, up **4%** year over year[5](index=5&type=chunk) - Organic revenue grew **3%**, mainly driven by growth in Next Generation Sequencing, partially offset by declines in Sanger Sequencing and Gene Synthesis[5](index=5&type=chunk) [GAAP Earnings Results](index=2&type=section&id=GAAP%20Earnings%20Results) GAAP operating loss improved significantly to $0.7 million, with operating margin increasing 440 basis points year-over-year. Gross margin also saw an increase, driven by favorable sales mix and operating efficiencies. Diluted EPS from continuing operations was positive, but total diluted EPS was negatively impacted by a non-cash impairment charge from discontinued operations - **Operating Loss:** **$0.7 million**, with operating margin at **(0.5%)**, an improvement of **440 basis points** year over year[12](index=12&type=chunk) - **Gross Margin:** **47.1%**, up **170 basis points** year over year, driven by favorable sales mix, operating efficiencies, and improved cost execution[12](index=12&type=chunk) - **Operating Expenses:** **$68 million**, down **6%** year over year, due to lower selling, general and administrative expenses, R&D costs, and restructuring charges[12](index=12&type=chunk) - **Diluted EPS from Continuing Operations:** **$0.01** (vs. ($0.00) in Q3 FY2024)[12](index=12&type=chunk) - **Diluted EPS from Discontinued Operations:** **($1.17)** due to a **$50 million** non-cash impairment charge[12](index=12&type=chunk) - **Total Diluted EPS:** **($1.15)** (vs. ($0.12) a year ago)[12](index=12&type=chunk) [Non-GAAP Earnings Results](index=2&type=section&id=Non-GAAP%20Earnings%20Results) Non-GAAP adjusted operating income and margin showed strong year-over-year improvements, reflecting effective cost management and operational efficiencies. Adjusted EBITDA and Non-GAAP Diluted EPS also increased significantly, indicating a positive trend in underlying business performance - **Adjusted Operating Income:** **$7.9 million**, with adjusted operating margin at **5.5%**, an improvement of **340 basis points** year over year[12](index=12&type=chunk) - **Adjusted Gross Margin:** **48.5%**, up **180 basis points** compared to Q3 FY2024, primarily due to favorable sales mix, operating efficiencies, and improved cost execution[12](index=12&type=chunk) - **Adjusted Operating Expense:** **$62 million**, down **4%** year over year, driven by lower selling, general and administrative expenses and R&D costs[12](index=12&type=chunk) - **Adjusted EBITDA:** **$18 million**, with Adjusted EBITDA margin at **12.3%**, an improvement of **260 basis points** year over year[12](index=12&type=chunk) - **Non-GAAP Diluted EPS:** **$0.19** (vs. $0.14 one year ago)[12](index=12&type=chunk) [Financial Position & Liquidity](index=2&type=section&id=Financial%20Position%20%26%20Liquidity) Azenta maintained a strong liquidity position with $565 million in cash and generated positive operating and free cash flow during Q3 FY2025 [Cash and Liquidity as of June 30, 2025](index=2&type=section&id=Cash%20and%20Liquidity%20as%20of%20June%2030%2C%202025) Azenta maintained a strong liquidity position with $565 million in cash, cash equivalents, restricted cash, and marketable securities. The company generated positive operating cash flow and free cash flow during the quarter - **Total Cash, Cash Equivalents, Restricted Cash, and Marketable Securities:** **$565 million** as of June 30, 2025, including **$15 million** of cash held in discontinued operations[12](index=12&type=chunk) - **Operating Cash Flow:** **$26 million** in the quarter[12](index=12&type=chunk) - **Capital Expenditures:** **$11 million**[12](index=12&type=chunk) - **Free Cash Flow:** **$15 million** (operating cash flow less capital expenditures)[12](index=12&type=chunk) [Fiscal Year 2025 Guidance](index=2&type=section&id=Fiscal%20Year%202025%20Guidance) Azenta reiterated its full-year fiscal 2025 guidance, projecting organic revenue growth and significant Adjusted EBITDA margin expansion for continuing operations [Guidance for Continuing Operations for Full Year Fiscal 2025](index=2&type=section&id=Guidance%20for%20Continuing%20Operations%20for%20Full%20Year%20Fiscal%202025) Azenta reiterated its full-year fiscal 2025 guidance for continuing operations, projecting organic revenue growth and significant Adjusted EBITDA margin expansion - **Total Organic Revenue Growth:** Expected to be in the range of **3% to 5%** relative to fiscal 2024[12](index=12&type=chunk) - **Adjusted EBITDA Margin Expansion:** Expected to be approximately **300 basis points** relative to fiscal 2024[12](index=12&type=chunk) - The company does not provide GAAP forward-looking guidance due to the inherent difficulty in forecasting various adjusting items without unreasonable effort[8](index=8&type=chunk) [Company Overview & Forward-Looking Statements](index=3&type=section&id=Company%20Overview%20%26%20Forward-Looking%20Statements) Azenta, a global leader in life sciences solutions, provides cold-chain sample management and multiomics services, with forward-looking statements subject to various risks [About Azenta Life Sciences](index=3&type=section&id=About%20Azenta%20Life%20Sciences) Azenta, Inc. is a global leader in life sciences solutions, providing cold-chain sample management and multiomics services to accelerate breakthroughs and therapies. The company serves top pharmaceutical, biotech, academic, and healthcare institutions worldwide through its industry-leading brands - Azenta, Inc. is a leading provider of life sciences solutions worldwide, enabling organizations to bring impactful breakthroughs and therapies to market faster[14](index=14&type=chunk) - Offers a full suite of reliable cold-chain sample management solutions and multiomics services across drug development, clinical research, and advanced cell therapies[14](index=14&type=chunk) - Serves top pharmaceutical, biotech, academic, and healthcare institutions globally through brands like GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, and Barkey[14](index=14&type=chunk) [Safe Harbor Statement](index=3&type=section&id=Safe%20Harbor%20Statement) The report includes forward-looking statements that involve known and unknown risks and uncertainties, which could cause actual results to differ materially from expectations. Azenta disclaims any obligation to publicly update or revise these statements - Statements in the release are forward-looking and involve known and unknown risks and uncertainties that could cause actual financial and business results to differ materially from expectations[13](index=13&type=chunk) - Factors that could cause results to differ include global political and economic conditions, cost reduction effectiveness, market volatility, supply chain issues, price competition, and intellectual property disputes[13](index=13&type=chunk) - Azenta expressly disclaims any obligation to release publicly any updates or revisions to forward-looking statements[13](index=13&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) Azenta's Q3 FY2025 financial statements show a net loss due to discontinued operations, a decrease in total assets, and increased operating cash flow for the nine-month period [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) For the three months ended June 30, 2025, Azenta reported total revenue of $143.9 million, a slight decrease from the prior year. Gross profit increased, but a significant loss from discontinued operations led to a net loss of $52.8 million Consolidated Statements of Operations (Three Months Ended June 30) | Metric (in thousands) | June 30, 2025 | June 30, 2024 | | :-------------------- | :------------ | :------------ | | Total Revenue | $143,942 | $144,292 | | Total Cost of Revenue | $76,182 | $78,814 | | Gross Profit | $67,760 | $65,478 | | Total Operating Expenses | $68,474 | $72,584 | | Operating Loss | $(714) | $(7,106) | | Income (Loss) from Continuing Operations | $680 | $(158) | | Loss from Discontinued Operations, net of tax | $(53,486) | $(6,424) | | Net Loss | $(52,806) | $(6,582) | | Diluted Net Loss Per Share | $(1.15) | $(0.12) | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, Azenta's total assets decreased to $2.02 billion from $2.10 billion at September 30, 2024. Current assets decreased, primarily due to lower short-term marketable securities and accounts receivable, while total liabilities saw a modest increase Consolidated Balance Sheets (as of) | Metric (in thousands) | June 30, 2025 | September 30, 2024 | | :-------------------- | :------------ | :----------------- | | Total Current Assets | $678,478 | $832,807 | | Total Assets | $2,019,135 | $2,100,041 | | Total Current Liabilities | $245,435 | $204,839 | | Total Liabilities | $345,501 | $331,074 | | Total Stockholders' Equity | $1,673,634 | $1,768,967 | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended June 30, 2025, net cash provided by operating activities significantly increased to $70.0 million from $32.2 million in the prior year. Investing activities resulted in a net cash outflow, while financing activities also used cash, leading to an overall decrease in cash and cash equivalents Consolidated Statements of Cash Flows (Nine Months Ended June 30) | Metric (in thousands) | June 30, 2025 | June 30, 2024 | | :-------------------- | :------------ | :------------ | | Net Loss | $(106,602) | $(159,186) | | Net Cash Provided by Operating Activities | $70,011 | $32,151 | | Net Cash (Used in) Provided by Investing Activities | $(91,287) | $26,732 | | Net Cash Used in Financing Activities | $(10,408) | $(411,661) | | Net Decrease in Cash, Cash Equivalents and Restricted Cash | $(27,174) | $(337,182) | | Cash, Cash Equivalents and Restricted Cash, End of Period | $293,816 | $346,863 | [Non-GAAP Financial Measures Reconciliation](index=7&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) Azenta provides non-GAAP reconciliations to offer a clearer view of operational performance, highlighting improvements in adjusted earnings and gross profit by excluding specific non-recurring items [Notes on Non-GAAP Financial Measures](index=7&type=section&id=Notes%20on%20Non-GAAP%20Financial%20Measures) Azenta supplements GAAP financial measures with non-GAAP measures to provide a clearer perspective on business operations, believing these are more comparable to peer analyses. These adjustments exclude items like amortization of intangibles, restructuring charges, M&A costs, transformation costs, and other non-recurring gains/charges - Non-GAAP financial measures are used to provide investors a better perspective on business operations, comparable to peer analyses, and are not a substitute for GAAP[23](index=23&type=chunk) - Adjustments to GAAP results include amortization of intangible assets, restructuring charges, purchase price accounting adjustments, M&A costs, non-recurring business transformation initiatives, and share repurchases[23](index=23&type=chunk) - Management also excludes special charges and gains such as impairment losses, gains/losses from asset sales, and certain tax benefits/charges not representative of normal operations[23](index=23&type=chunk) [Non-GAAP Diluted EPS Reconciliation](index=7&type=section&id=Non-GAAP%20Diluted%20EPS%20Reconciliation) The reconciliation shows a significant positive adjustment from GAAP net income/loss to Non-GAAP adjusted net income for continuing operations, primarily driven by the exclusion of amortization, transformation costs, and restructuring charges. This resulted in a Non-GAAP Diluted EPS of $0.19 for Q3 FY2025 Non-GAAP Diluted EPS Reconciliation (Quarter Ended June 30, 2025) | Metric (in thousands, except per share) | June 30, 2025 | per diluted share | | :-------------------------------------- | :------------ | :---------------- | | Net income / loss from continuing operations | $680 | $0.01 | | Adjustments: | | | | Amortization of completed technology | $2,068 | $0.05 | | Amortization of other intangible assets | $4,123 | $0.09 | | Transformation costs | $1,542 | $0.03 | | Restructuring charges | $754 | $0.02 | | Tax effect of adjustments | $(742) | $(0.02) | | Non-GAAP adjusted net income from continuing operations | $8,521 | $0.19 | Non-GAAP Diluted EPS Reconciliation (Nine Months Ended June 30, 2025) | Metric (in thousands, except per share) | June 30, 2025 | per diluted share | | :-------------------------------------- | :------------ | :---------------- | | Net income / loss from continuing operations | $(26,926) | $(0.59) | | Adjustments: | | | | Amortization of completed technology | $5,876 | $0.13 | | Amortization of other intangible assets | $12,499 | $0.27 | | Transformation costs | $9,771 | $0.21 | | Restructuring charges | $4,765 | $0.10 | | Tax effect of adjustments | $748 | $0.02 | | Non-GAAP adjusted net income from continuing operations | $14,227 | $0.31 | [Non-GAAP Adjusted EBITDA Reconciliation](index=9&type=section&id=Non-GAAP%20Adjusted%20EBITDA%20Reconciliation) Adjusted EBITDA for continuing operations significantly improved, reaching $17.7 million for Q3 FY2025 and $45.3 million for the nine months ended June 30, 2025. This adjustment primarily excludes interest, taxes, depreciation, amortization, stock-based compensation, restructuring, and transformation costs Non-GAAP Adjusted EBITDA Reconciliation (Quarter Ended June 30) | Metric (in thousands) | June 30, 2025 | March 31, 2025 | June 30, 2024 | | :-------------------- | :------------ | :------------- | :------------ | | GAAP net income / loss from continuing operations | $680 | $(18,185) | $(158) | | EBITDA - Continuing operations | $13,055 | $(1,065) | $7,296 | | Adjustments: | | | | | Stock-based compensation | $2,215 | $8,031 | $3,691 | | Restructuring charges | $754 | $3,580 | $1,701 | | Transformation costs | $1,542 | $5,183 | $1,174 | | Adjusted EBITDA - Continuing operations | $17,662 | $14,287 | $13,936 | Non-GAAP Adjusted EBITDA Reconciliation (Nine Months Ended June 30) | Metric (in thousands) | June 30, 2025 | June 30, 2024 | | :-------------------- | :------------ | :------------ | | GAAP net income / loss from continuing operations | $(26,926) | $(23,552) | | EBITDA - Continuing operations | $15,391 | $(3,651) | | Adjustments: | | | | Stock-based compensation | $15,119 | $12,102 | | Restructuring charges | $4,765 | $5,915 | | Transformation costs | $9,771 | $5,310 | | Adjusted EBITDA - Continuing operations | $45,270 | $29,155 | [Non-GAAP Adjusted Gross Profit Reconciliation](index=10&type=section&id=Non-GAAP%20Adjusted%20Gross%20Profit%20Reconciliation) Non-GAAP adjusted gross profit and margin showed consistent improvement across both the quarter and nine-month periods, driven by adjustments for amortization of completed technology and minor transformation costs. This indicates enhanced operational efficiency and favorable sales mix Non-GAAP Adjusted Gross Profit Reconciliation (Quarter Ended June 30) | Metric (in thousands) | June 30, 2025 | % | March 31, 2025 | % | June 30, 2024 | % | | :-------------------- | :------------ | :---- | :------------- | :---- | :------------ | :---- | | GAAP gross profit | $67,760 | 47.1% | $65,886 | 45.9% | $65,478 | 45.4% | | Adjustments: | | | | | | | | Amortization of completed technology | $2,068 | 1.4% | $2,308 | 1.6% | $2,047 | 1.4% | | Non-GAAP adjusted gross profit | $69,853 | 48.5% | $68,185 | 47.5% | $67,399 | 46.7% | Non-GAAP Adjusted Gross Profit Reconciliation (Nine Months Ended June 30) | Metric (in thousands) | June 30, 2025 | % | June 30, 2024 | % | | :-------------------- | :------------ | :---- | :------------ | :---- | | GAAP gross profit | $202,317 | 46.5% | $187,885 | 44.5% | | Adjustments: | | | | | | Amortization of completed technology | $5,876 | 1.4% | $5,970 | 1.4% | | Non-GAAP adjusted gross profit | $208,270 | 47.9% | $194,087 | 46.0% | [Non-GAAP Adjusted Operating Income (Loss) Reconciliation](index=12&type=section&id=Non-GAAP%20Adjusted%20Operating%20Income%20(Loss)%20Reconciliation) Non-GAAP adjusted operating income for total segments showed a positive trend, reaching $7.9 million for Q3 FY2025, a significant improvement from the GAAP operating loss. This was achieved by adjusting for amortization, transformation costs, and restructuring charges, reflecting the company's operational turnaround Non-GAAP Adjusted Operating Income (Loss) Reconciliation (Quarter Ended June 30, 2025) | Metric (in thousands) | Sample Management Solutions | Multiomics | Total Segments | Corporate | Total | | :-------------------- | :-------------------------- | :--------- | :------------- | :-------- | :---- | | GAAP operating income (loss) | $9,834 | $(4,191) | $5,643 | $(6,357) | $(714) | | Adjustments: | | | | | | | Amortization of completed technology | $1,208 | $860 | $2,068 | — | $2,068 | | Amortization of other intangible assets | — | — | — | $4,123 | $4,123 | | Transformation costs | $168 | — | $168 | $1,374 | $1,542 | | Restructuring charges | — | — | — | $754 | $754 | | Non-GAAP adjusted operating income (loss) | $11,248 | $(3,331) | $7,917 | $(46) | $7,871 | Non-GAAP Adjusted Operating Income (Loss) Reconciliation (Nine Months Ended June 30, 2025) | Metric (in thousands) | Sample Management Solutions | Multiomics | Total Segments | Corporate | Total | | :-------------------- | :-------------------------- | :--------- | :------------- | :-------- | :---- | | GAAP operating income (loss) | $11,963 | $(13,710) | $(1,747) | $(26,471) | $(28,218) | | Adjustments: | | | | | | | Amortization of completed technology | $3,296 | $2,580 | $5,876 | — | $5,876 | | Amortization of other intangible assets | — | — | — | $12,499 | $12,499 | | Transformation costs | $2,877 | — | $2,877 | $6,894 | $9,771 | | Restructuring charges | — | — | — | $4,765 | $4,765 | | Non-GAAP adjusted operating income (loss) | $18,177 | $(11,127) | $7,050 | $(10) | $7,050 | [Organic Revenue Reconciliation](index=13&type=section&id=Organic%20Revenue%20Reconciliation) Organic revenue for Q3 FY2025 declined by 2% for Azenta Total, with Sample Management Solutions seeing a 6% organic decline and Multiomics achieving 3% organic growth. For the nine months, total organic revenue grew 3% Organic Revenue Reconciliation (Quarter Ended June 30) | Metric (in millions) | Sample Management Solutions (2025) | Sample Management Solutions (2024) | Change | Multiomics (2025) | Multiomics (2024) | Change | Azenta Total (2025) | Azenta Total (2024) | Change | | :------------------- | :--------------------------------- | :--------------------------------- | :----- | :---------------- | :---------------- | :----- | :------------------ | :------------------ | :----- | | Revenue | $78 | $81 | (4)% | $66 | $64 | 4% | $144 | $144 | (0)% | | Currency exchange rates | $(2) | — | (2)% | $(1) | — | (1)% | $(2) | — | (2)% | | Organic revenue | $76 | $81 | (6)% | $65 | $64 | 3% | $142 | $144 | (2)% | Organic Revenue Reconciliation (Nine Months Ended June 30) | Metric (in millions) | Sample Management Solutions (2025) | Sample Management Solutions (2024) | Change | Multiomics (2025) | Multiomics (2024) | Change | Azenta Total (2025) | Azenta Total (2024) | Change | | :------------------- | :--------------------------------- | :--------------------------------- | :----- | :---------------- | :---------------- | :----- | :------------------ | :------------------ | :----- | | Revenue | $239 | $234 | 2% | $196 | $189 | 4% | $435 | $422 | 3% | | Currency exchange rates | $(1) | — | (1)% | $(0) | — | (0)% | $(2) | — | (0)% | | Organic revenue | $237 | $234 | 2% | $196 | $189 | 4% | $433 | $422 | 3% |

Core Viewpoint - Azenta, Inc. reported its financial results for the third quarter of fiscal 2025, showing a flat revenue year-over-year and a significant net loss due to discontinued operations and impairment charges. Financial Performance - Revenue from continuing operations was $144 million, unchanged from the previous year, with organic revenue declining by 2% year-over-year [3][8] - Sample Management Solutions revenue was $78 million, down 4% year-over-year, while Multiomics revenue increased to $66 million, up 4% year-over-year [3][8] - Diluted EPS from continuing operations was $0.01 compared to ($0.00) in the same quarter of the previous year, while total diluted EPS was ($1.15), a decrease of 30% from ($0.12) [3][8] - Adjusted EBITDA for continuing operations was $18 million, with an adjusted EBITDA margin of 12.3%, reflecting a 260 basis point improvement year-over-year [3][14] Management Commentary - The President and CEO, John Marotta, stated that significant organizational changes are underway, and the operational turnaround is progressing as planned, with a focus on cost management and execution [4][8] Cash and Liquidity - As of June 30, 2025, the company had a total balance of cash, cash equivalents, restricted cash, and marketable securities amounting to $565 million [14] - Operating cash flow for the quarter was $26 million, with capital expenditures of $11 million, resulting in free cash flow of $15 million [14] Guidance - Azenta reiterated its guidance for fiscal year 2025, expecting total organic revenue growth in the range of 3% to 5% relative to fiscal 2024 and an adjusted EBITDA margin expansion of approximately 300 basis points [14][8]

Core Insights - Fresenius Medical Care announced a collaboration involving Frenova, Nephronomics, and GENEWIZ to enhance genomic analysis for the My Reason® genomics research program, focusing on kidney, cardiovascular, and metabolic diseases [1][3][6] Group 1: Collaboration Details - The collaboration aims to leverage advanced technologies for a better understanding of kidney and related diseases, driving advancements in precision medicine [1][4] - Frenova's My Reason® program has registered over 35,000 participants, with a goal of reaching 50,000 in the next two years, focusing on genomic and clinical data to uncover insights into kidney disease [3][4] - Nephronomics holds exclusive commercial rights to the My Reason® dataset, which is integral to the Nephronomics Atlas, aimed at developing targeted therapies through precision medicine insights [4][11] Group 2: Technological Contributions - GENEWIZ will utilize its DNA sequencing technologies to generate large-scale genomic data from biospecimens collected through Frenova's nephrology research network [5][6] - Azenta will provide long-term storage solutions for the samples, enhancing the research capabilities of the collaboration [5][6] Group 3: Industry Context - Fresenius Medical Care is a leading provider of products and services for individuals with renal diseases, serving approximately 4.2 million patients globally [7] - The collaboration represents a significant step forward in advancing precision medicine and improving patient outcomes in the cardio-kidney-metabolic field [4][6]

Company Overview - Azenta, Inc. is a leading provider of life sciences solutions globally, facilitating the faster market introduction of impactful breakthroughs and therapies [2] - The company offers a comprehensive suite of reliable cold-chain sample management solutions and multiomics services, catering to drug development, clinical research, and advanced cell therapies [2] - Azenta operates under several industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, and Barkey [2] Conference Participation - Company management will participate in the 10th Annual Needham Virtual MedTech & Diagnostics 1x1 Conference on August 12, 2025 [1]