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Azenta(AZTA) - 2024 Q4 - Annual Results
AZTAAzenta(AZTA)2024-11-12 21:20

Revenue Performance - FY'24 revenue was 656million,down1656 million, down 1% year over year, with organic revenue declining 2%[7] - Q4'24 revenue was 170 million, a decrease of 1% year over year, with organic revenue down 2%[4] - Sample Management Solutions revenue for FY'24 was 319million,up5319 million, up 5% year over year, with organic growth of 4%[7] - Multiomics revenue for FY'24 was 255 million, up 3% year over year, with organic growth also at 3%[7] - B Medical Systems revenue for FY'24 was 83million,down2783 million, down 27% year over year, with organic revenue also down 27%[7] - Revenue for the total year ended September 30, 2024, was 656 million, a slight decrease of 1% compared to 665millionin2023[41]ProfitabilityMetrics−AdjustedEBITDAforFY′24was665 million in 2023[41] Profitability Metrics - Adjusted EBITDA for FY'24 was 49 million, with an Adjusted EBITDA margin of 7.5%, an improvement of about 300 basis points year over year[10] - FY'25 organic revenue growth is expected to be between 3% to 5% year over year, with Adjusted EBITDA margin expansion of approximately 300 basis points[1] - Non-GAAP diluted EPS for FY'24 was 0.41,comparedto0.41, compared to 0.31 in FY'23, reflecting a 32% increase[10] - Gross profit for the three months ended September 30, 2024, was 69,413,000,comparedto69,413,000, compared to 68,034,000 for the same period in 2023, reflecting a slight increase[27] - GAAP gross profit for the quarter ended September 30, 2024, was 69,413,000,representingagrossmarginof40.869,413,000, representing a gross margin of 40.8%, up from 39.5% in the same quarter of 2023[35] - Non-GAAP adjusted gross profit for the quarter ended September 30, 2024, was 76,455,000, with a margin of 45.0%, compared to 73,730,000and42.873,730,000 and 42.8% in the same quarter of 2023[35] Losses and Charges - Operating loss for the three months ended September 30, 2024, was (12,292,000), an improvement from (16,628,000)inthesameperiodlastyear[27]−NetlossforthethreemonthsendedSeptember30,2024,was(16,628,000) in the same period last year[27] - Net loss for the three months ended September 30, 2024, was (4,984,000), compared to a net income of 3,375,000forthesameperiodin2023[27]−Thecompanyreportedabasicnetlosspershareof3,375,000 for the same period in 2023[27] - The company reported a basic net loss per share of (0.10) for the three months ended September 30, 2024, compared to a profit of 0.05inthesameperiodlastyear[27]−Restructuringchargesamountedto0.05 in the same period last year[27] - Restructuring charges amounted to 11,808 thousand for the year ended September 30, 2024, compared to 4,577thousandin2023[32]−Thecompanyreportedasignificantimpairmentofgoodwillandintangibleassetsamountingto4,577 thousand in 2023[32] - The company reported a significant impairment of goodwill and intangible assets amounting to 115,975 thousand for the year ended September 30, 2024[40] Cash and Assets - Cash and cash equivalents decreased to 310,929,000asofSeptember30,2024,downfrom310,929,000 as of September 30, 2024, down from 678,910,000 a year earlier[28] - Total assets decreased to 2,100,041,000from2,100,041,000 from 2,885,720,000 year-over-year[29] - Total stockholders' equity decreased to 1,768,967,000from1,768,967,000 from 2,534,500,000 compared to the previous year[29] Management Changes - Lawrence Y. Lin has been appointed as Chief Financial Officer, succeeding Herman Cueto[18] Strategic Initiatives - The company is pursuing a sale of B Medical Systems to simplify its portfolio and enhance revenue growth and profitability[16] - The company expects continued focus on transformation and productivity improvements to enhance long-term operational efficiency[37] - Transformation costs for the quarter ended September 30, 2024, were 3,971thousand,reflectingongoingstrategicprojectsaimedatlong−termbenefits[40]OtherFinancialMetrics−Non−GAAPadjustednetincomefromcontinuingoperationswas3,971 thousand, reflecting ongoing strategic projects aimed at long-term benefits[40] Other Financial Metrics - Non-GAAP adjusted net income from continuing operations was 21,804 thousand for the year ended September 30, 2024, up from 20,599thousandin2023[32]−Non−GAAPadjustednetincomeexcludingstock−basedcompensationwas20,599 thousand in 2023[32] - Non-GAAP adjusted net income excluding stock-based compensation was 34,246 thousand for the year ended September 30, 2024, compared to 28,671thousandin2023[32]−Earningsbeforeinterest,taxes,depreciation,andamortization(EBITDA)forcontinuingoperationswas28,671 thousand in 2023[32] - Earnings before interest, taxes, depreciation, and amortization (EBITDA) for continuing operations was 9,109 thousand for the quarter ended September 30, 2024[33] - Non-GAAP adjusted operating income for September 30, 2024, was 9,860thousand,comparedto9,860 thousand, compared to 3,404 thousand in the previous year[38]