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Azenta(AZTA) - 2025 Q1 - Quarterly Results
AZTAAzenta(AZTA)2025-02-05 12:32

Business Strategy - Azenta, Inc. is pursuing the sale of its B Medical Systems segment to simplify its portfolio and focus on core businesses, aiming to drive revenue growth and profitability[2] - The company aims to enhance shareholder value through strategic evaluations and operational improvements[2] Financial Performance - Total revenue for the twelve months ended September 30, 2023, was 551,950,000,withproductrevenueat551,950,000, with product revenue at 176,100,000 and service revenue at 375,850,000[9]−RevenuefromcontinuingoperationsforthetwelvemonthsendedSeptember30,2023,was375,850,000[9] - Revenue from continuing operations for the twelve months ended September 30, 2023, was 551,950,000[16] - The company reported a net loss of 164,170,000forthetwelvemonthsendedSeptember30,2024,whichincludesalossfromdiscontinuedoperationsof164,170,000 for the twelve months ended September 30, 2024, which includes a loss from discontinued operations of 140,531,000[9] - GAAP net loss from continuing operations for the twelve months ended September 30, 2023, was (7,660,000)[14]−ThecompanyreportedaGAAPnetlossof(7,660,000)[14] - The company reported a GAAP net loss of (164,170,000) for the twelve months ended September 30, 2024[14] Adjusted Financial Metrics - Adjusted operating income from continuing operations was 4,181,000forthetwelvemonthsendedSeptember30,2024,afteraccountingforvariousadjustments[12]−AdjustedEBITDAforthetwelvemonthsendedSeptember30,2023,was4,181,000 for the twelve months ended September 30, 2024, after accounting for various adjustments[12] - Adjusted EBITDA for the twelve months ended September 30, 2023, was 22,235,000, with an adjusted EBITDA margin of 4%[16] - Adjusted EBITDA for the six months ended June 30, 2024, was 29,155,000,withanadjustedEBITDAmarginof1029,155,000, with an adjusted EBITDA margin of 10%[16] - The company’s adjusted earnings before interest, taxes, depreciation, and amortization for the twelve months ended September 30, 2024, was 46,889,000[16] Losses and Charges - Operating loss from continuing operations for the twelve months ended September 30, 2024, was 50,561,000[12]−Thecompanyhasincurredrestructuringchargesof50,561,000[12] - The company has incurred restructuring charges of 6,766,000 for the twelve months ended September 30, 2024[12] - Restructuring charges amounted to 4,577,000forthetwelvemonthsendedSeptember30,2023[14]−Thecompanyincurredstock−basedcompensationexpensesof4,577,000 for the twelve months ended September 30, 2023[14] - The company incurred stock-based compensation expenses of 8,830,000 for the twelve months ended September 30, 2023[14] - The company reported a loss from discontinued operations of (6,596,000)forthethreemonthsendedSeptember30,2023[14]AssetsandCashFlow−Totalcurrentassetsamountto(6,596,000) for the three months ended September 30, 2023[14] Assets and Cash Flow - Total current assets amount to 832,807,000, with cash and cash equivalents at 280,030,000andaccountsreceivableat280,030,000 and accounts receivable at 156,273,000 as of September 30, 2024[7] - Cash and cash equivalents decreased from 280,030,000to280,030,000 to 151,162,000 in short-term marketable securities as of September 30, 2024[7] - Interest income, net for the twelve months ended September 30, 2023, was $(43,541,000)[14] Discontinued Operations - As of November 12, 2024, the B Medical Systems segment qualifies as a discontinued operation under U.S. GAAP[3]