Azenta Reports First Quarter Results for Fiscal 2025, Ended December 31, 2024

Core Insights - Azenta, Inc. reported financial results for the first quarter ended December 31, 2024, showing a revenue increase of 4% year-over-year to $148 million, driven by growth in Sample Management Solutions and Multiomics services [1][7][33] - The company experienced an operating loss of$ 11 million, with a diluted EPS from continuing operations of ( $0.21), compared to ($ 0.13) in the same quarter last year [7][24] - Management expressed confidence in the company's market positioning and ongoing transformation initiatives, highlighting strong free cash flow and positive demand trends [3][14] Financial Performance - Revenue from continuing operations was $148 million, up 4% year-over-year, with organic growth also at 4% [7][33] - Sample Management Solutions revenue was$ 81 million, a 3% increase year-over-year, while Multiomics revenue reached $66 million, up 6% year-over-year [7][33] - Adjusted EBITDA for continuing operations was$ 13 million, with an adjusted EBITDA margin of 9.0%, reflecting a 400 basis point improvement year-over-year [14][7] Earnings Summary - Total diluted EPS was ( $0.29), slightly down from ($ 0.28) a year ago, with a non-GAAP diluted EPS of $0.08, unchanged from the previous year [7][14][24] - Operating expenses increased by 3% year-over-year to$ 80 million, primarily due to higher selling, general, and administrative expenses [7][14] - The company ended the quarter with cash, cash equivalents, and marketable securities totaling $530 million, including$ 27 million from discontinued operations [14][19] Guidance and Outlook - Azenta reiterated its revenue guidance for fiscal year 2025, expecting total organic revenue growth in the range of 3% to 5% relative to fiscal 2024 [14][19] - The company anticipates an adjusted EBITDA margin expansion of approximately 300 basis points compared to fiscal 2024 [14][19]