Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: March 31, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to _________ Commission File Number 000-25434 AZENTA, INC. (Exact name of registrant as specified in its charter) Delaware 04-30 ...

Azenta, Inc. (NASDAQ:AZTA) Q2 2024 Results Conference Call May 8, 2024 4:30 PM ET Company Participants Yvonne Perron - Vice President, FP&A and Investor Relations Steve Schwartz - President and Chief Executive Officer Herman Cueto - Chief Financial Officer Conference Call Participants David Saxon - Needham Hannah Hefley - Stephens Vijay Kumar - Evercore ISI Yuan Zhi - B. Riley Matt Stanton - Jefferies Operator Greetings, and welcome to the Azenta Second Quarter 2024 Financial Results. [Operator Instructions ...

Exhibit 99.1 Azenta Reports Second Quarter Results for Fiscal 2024, Ended March 31, 2024 BURLINGTON, Mass., May 8, 2024 (PR Newswire) – Azenta, Inc. (Nasdaq: AZTA) today reported financial results for the second quarter ended March 31, 2024. | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------|-------|----------------------|-------|-------------------------|---------|------------------------------|----------------------|-------------| | Dollars in ...

CEO Dr. Stephen Schwartz to Retire; Search Underway to Identify Successor BURLINGTON, Mass., May 8, 2024 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today announced a CEO succession plan, under which CEO and Board Director Dr. Stephen Schwartz will be retiring from Azenta after more than 14 years of service. Dr. Schwartz will continue to serve as CEO until a successor is appointed to ensure a smooth transition. Dr. Schwartz's retirement follows a discussion with the Board as part of the company's active suc ...

BURLINGTON, Mass., April 1, 2024 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today announced the publication of its annual Environmental, Social, & Governance ("ESG") report, highlighting the Company's ongoing commitment to advancing its strategy and actions aligned with key ESG priorities. The report includes ESG data for the Company's fiscal year ended September 30, 2023. The report offers a comprehensive look at the Company's ESG approach and showcases accomplishments in three main pillars: Environmenta ...

Financial Performance - Azenta's Q1 2024 revenue was $154 million, a 13% year-over-year decrease and a 15% decrease on an organic basis[7] - Non-GAAP EPS for Q1 2024 was $0.02, with an adjusted EBITDA of 30%[7] - The company's gross profit decreased from $81 million to $67 million, resulting in a gross profit margin decrease of 19 percentage points from 454% to 435%[9] - Azenta generated $15 million of free cash flow in Q1, marking the third consecutive quarter of positive free cash flow[7] Segment Performance - Sample Management Solutions (SMS) revenue reached $79 million, showing a 5% year-over-year increase, but only a 1% organic growth[12] - Excluding Consumables & Instruments (C&I), SMS organic growth was 9% year-over-year[8] - Multiomics revenue was $63 million, a 3% year-over-year increase, with 2% organic growth[15] - B Medical Systems experienced a 70% year-over-year revenue decline, primarily due to order timing in the vaccine cold chain[8] Balance Sheet and Capital Allocation - Azenta maintains a strong balance sheet with a cash balance of $11 billion as of December 31, 2023[7] - The company returned $113 million of capital through the repurchase of 23 million shares in Q1[7] - Approximately $500 million in cash remains available for disciplined and long-term value-creating initiatives after committed repurchases[7] Fiscal Year 2024 Guidance - Azenta anticipates organic revenue growth of 5% to 8%, with revenue projected between $696 million and $718 million[19] - The company expects an approximate 300 basis point margin improvement in adjusted EBITDA[19]

Azenta, Inc. (NASDAQ:AZTA) Q1 2024 Earnings Conference Call February 7, 2024 4:30 PM ET Company Participants Sara Silverman - Head of Investor Relations Stephen Schwartz - President and Chief Executive Officer Herman Cueto - Chief Financial Officer Conference Call Participants David Saxon - Needham Jacob Johnson - Stephens Andrew Cooper - Raymond James Paul Knight - KeyBanc Vijay Kumar - Evercore ISI Yuan Zhi - B. Riley Operator Greetings, and welcome to the Azenta Q1 2024 Financial Results. [Operator Instr ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: December 31, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to _________ Commission File Number 000-25434 AZENTA, INC. (Exact name of registrant as specified in its charter) Delaware 04 ...

Company Overview - Azenta Inc is a leading global provider of life sciences solutions, enabling faster breakthroughs and therapies to market [2] - The company offers a full suite of cold-chain sample management solutions and multiomics services across drug development, clinical research, and advanced cell therapies [2] - Azenta serves top pharmaceutical, biotech, academic, and healthcare institutions worldwide [2] - The company operates globally with headquarters in Burlington, MA and operations in North America, Europe, and Asia [2] - Azenta's portfolio includes industry-leading brands such as GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, Barkey, and B Medical Systems [2] Investor Relations - Azenta will host an Investor Day on March 14, 2024 in New York City [1] - The event will feature presentations from the executive leadership team outlining the company's strategy and vision [1] - A live webcast of the Investor Day will be available on Azenta's website from 9:00 AM to 12:00 PM ET [1] - A replay of the audio webcast will be accessible on the website after the event concludes [1] Contact Information - Sara Silverman serves as Head of Investor Relations & Corporate Communications [3] - Sherry Dinsmore is another key contact for investor relations [3]

Revenue and Growth - Revenue for the fiscal year ended September 30, 2023, was $665.1 million, a 20% increase compared to $555.5 million in 2022, primarily driven by a 53% growth in the Life Sciences Products segment due to acquisitions [162]. - Total revenue for the fiscal year ended September 30, 2023, was $665.1 million, a 19.7% increase from $555.5 million in 2022 [192]. - Life Sciences Products segment revenue increased by 53% year-over-year to $305.2 million, primarily due to acquisitions, while excluding acquisitions, there was a 9% decline in revenue [194]. - Life Sciences Services segment revenue grew by 1% year-over-year to $359.9 million, driven by growth in the SRS business, offset by a decline in Genomics Services [195]. - Revenue related to COVID-19 for the fiscal year 2023 was approximately $7.7 million, down from $22 million in 2022, reflecting decreased demand for COVID-19 related products [195]. - Revenue generated outside the United States was $310.0 million, representing 47% of total revenue for fiscal year 2023, up from 36% in 2022 [196]. - The company anticipates continued revenue growth from both internally developed products and potential future acquisitions [195]. Profitability and Loss - Gross profit for fiscal year 2023 was $263.1 million, resulting in a gross margin of 39.6%, down from 46.0% in the prior year, attributed to higher costs from the acquisition of B Medical [164]. - Operating loss for fiscal year 2023 was $73.1 million, compared to a loss of $24.7 million in 2022, driven by reduced gross margin and increased operating expenses [164]. - The company reported a loss from continuing operations of $12.9 million for fiscal year 2023, compared to a loss of $11.3 million in 2022 [164]. - Operating loss for Life Sciences Products segment was $30.3 million in fiscal year 2023, compared to an operating income of $11.0 million in the prior fiscal year, indicating a significant decline [200]. - Operating loss for Life Sciences Services segment was $14.7 million in fiscal year 2023, compared to an operating income of $10.8 million in the previous year, reflecting a significant downturn [202]. - The net loss from discontinued operations for fiscal year 2023 was $1.4 million, compared to a net income of $2.1 billion in fiscal year 2022 [218]. - The company reported a basic net loss per share of $(0.22) for the year ended September 30, 2023, compared to earnings per share of $28.48 in 2022 [266]. - Net income for the year 2023 was a loss of $14,257 thousand, compared to a net income of $2,132,859 thousand in September 2022 [272]. Expenses - Selling, general and administrative expenses rose by $64.8 million in fiscal year 2023, largely due to the acquisitions of B Medical and Barkey [164]. - Research and development expenses increased by $6.4 million, while selling, general, and administrative expenses rose by $64.8 million, largely due to the addition of B Medical [199]. - Research and development expenses increased to $33,956,000 in 2023 from $27,542,000 in 2022, highlighting a focus on innovation [266]. - The company recorded an adjustment to the fair value of contingent consideration related to B Medical amounting to $18.5 million, which partially offset increased expenses [199]. Cash Flow and Liquidity - Cash and cash equivalents as of September 30, 2023, were $678.9 million, with total cash, cash equivalents, and marketable securities amounting to $1.134 billion [223]. - Net cash provided by operating activities was $17.5 million for fiscal year 2023, a significant improvement from a net cash outflow of $466.0 million in fiscal year 2022 [225]. - Cash provided by investing activities was $431.4 million in fiscal year 2023, primarily from $1.1 billion in sales and maturities of marketable securities [229]. - Cash outflows for financing activities totaled $844.1 million in fiscal year 2023, mainly due to share repurchase authorization [231]. - As of September 30, 2023, the company had no outstanding debt on its balance sheet [233]. - The company has not paid any dividends since the sale of the semiconductor automation business on February 1, 2022, and had previously paid a quarterly dividend of $0.10 per share totaling $7.5 million in December 2021 [234]. - The Board of Directors approved a new share repurchase authorization of up to $1.5 billion, with $662.0 million remaining available for additional repurchases as of September 30, 2023 [235]. - In the fiscal year ending September 30, 2023, the company repurchased 17.5 million shares of common stock for $838.5 million [235]. Assets and Investments - Total current assets decreased to $1,418,956,000 from $2,459,346,000 year-over-year, indicating a reduction in liquidity [263]. - Total stockholders' equity decreased to $2,534,500,000 from $3,363,386,000, reflecting the impact of the net loss on shareholder value [264]. - As of September 30, 2023, total stockholders' equity was $2,534.5 million, a decrease from $3,363.4 million in the previous year [275]. - The company had non-cancelable commitments of $73.5 million as of September 30, 2023, including $51.3 million for inventory and $22.2 million for IT-related commitments [237]. - The company’s retained earnings as of September 30, 2023, were $1,641.0 million, reflecting a decrease from the previous year [275]. Acquisitions and Business Changes - The company completed the acquisition of B Medical Systems on October 3, 2022, enhancing its cold-chain capabilities for temperature-sensitive samples [157]. - The acquisition of B Medical Systems S.á r.l. was completed for a purchase price of $432.2 million, with $100.6 million of completed technology recorded as an intangible asset [256]. - The company changed its name from "Brooks Automation, Inc." to "Azenta, Inc." following the sale of its semiconductor automation business for $2.9 billion on February 1, 2022 [160]. Market and Customer Insights - The Company's ten largest customers accounted for approximately 30% of consolidated revenue for the fiscal year ended September 30, 2023 [296]. - One customer from the Life Science Products segment accounted for more than 10% of consolidated revenue in fiscal year 2023, shipping to end users in approximately 50 countries [296]. - The Company regularly monitors creditworthiness and believes it has adequately provided for potential credit losses [296]. Financial Reporting and Accounting - The company records income taxes using the asset and liability method, recognizing deferred tax assets and liabilities for future tax differences [343]. - Basic income or loss per share is determined by dividing net income by the weighted average common shares outstanding during the period [346]. - The company adopted ASU 2022-06, extending relief related to reference rate reform through December 31, 2024, with no significant accounting impact on consolidated financial statements [347].