Azenta(US:AZTA)2025-02-05 12:32Business 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, with product revenue at $176,100,000 and service revenue at $375,850,000[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 $164,170,000 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] - 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 $4,181,000 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, 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] - The company has incurred restructuring charges of $6,766,000 for the twelve months ended September 30, 2024[12] - Restructuring charges amounted to $4,577,000 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) 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 $280,030,000 and accounts receivable at $156,273,000 as of September 30, 2024[7] - Cash and cash equivalents decreased from $280,030,000 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]