Market Overview - The stock market experienced significant volatility in Q2 2025, with the S&P 500 reaching an all-time high by the end of June [1] - The market saw a drop of 7% from April 2 to April 7 due to the liberation day tariff announcement, followed by a rebound of over 22% from the April 7 low through the end of June [1] - The Russell 1000 Growth returned 17.8% and the S&P 500 returned 10.9% in the quarter, with large caps significantly outperforming small caps and growth outperforming value [1] Renaissance Large Cap Growth Strategy Performance - The strategy outperformed the S&P 500 Index but underperformed the Russell 1000 Growth benchmark [1] Company Focus: Thermo Fisher Scientific Inc. - Thermo Fisher Scientific Inc. (NYSE:TMO) was highlighted as an underperformer, with a one-month return of -0.11% and a 52-week loss of 21.70% [2] - As of September 09, 2025, Thermo Fisher's stock closed at $487.65 per share, with a market capitalization of $182.859 billion [2] - The company reported solid operating results but saw a decline of 18.5% in its stock price, attributed to lowered full-year guidance due to tariff-related macro weakness and uncertainty regarding NIH funding delays impacting academic and government customers [3]

Core Viewpoint - Azenta, Inc. reported its financial results for the third quarter of fiscal 2025, showing a flat revenue year-over-year and a significant net loss due to discontinued operations and impairment charges. Financial Performance - Revenue from continuing operations was $144 million, unchanged from the previous year, with organic revenue declining by 2% year-over-year [3][8] - Sample Management Solutions revenue was $78 million, down 4% year-over-year, while Multiomics revenue increased to $66 million, up 4% year-over-year [3][8] - Diluted EPS from continuing operations was $0.01 compared to ($0.00) in the same quarter of the previous year, while total diluted EPS was ($1.15), a decrease of 30% from ($0.12) [3][8] - Adjusted EBITDA for continuing operations was $18 million, with an adjusted EBITDA margin of 12.3%, reflecting a 260 basis point improvement year-over-year [3][14] Management Commentary - The President and CEO, John Marotta, stated that significant organizational changes are underway, and the operational turnaround is progressing as planned, with a focus on cost management and execution [4][8] Cash and Liquidity - As of June 30, 2025, the company had a total balance of cash, cash equivalents, restricted cash, and marketable securities amounting to $565 million [14] - Operating cash flow for the quarter was $26 million, with capital expenditures of $11 million, resulting in free cash flow of $15 million [14] Guidance - Azenta reiterated its guidance for fiscal year 2025, expecting total organic revenue growth in the range of 3% to 5% relative to fiscal 2024 and an adjusted EBITDA margin expansion of approximately 300 basis points [14][8]

Company Overview - Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions globally, facilitating faster market access for impactful breakthroughs and therapies [3] - The company offers a comprehensive range of reliable cold-chain sample management solutions and multiomics services, focusing on drug development, clinical research, and advanced cell therapies [3] - Azenta operates under several industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, and Barkey [3] Upcoming Financial Announcement - Azenta will announce its fiscal third quarter 2025 earnings on August 5, 2025, before the market opens [1] - A conference call and live webcast to discuss the financial results will take place on the same day at 8:30 a.m. Eastern Time [2] - Analysts, investors, and media can access the live webcast through the Azenta website, with a replay available starting August 6, 2025, at 8:30 a.m. ET [2] Company Operations - Azenta is headquartered in Burlington, MA, and has operations across North America, Europe, and Asia [4]

Core Insights - The company reported a total revenue of $143 million for the quarter ended March 31, 2025, reflecting a 5% increase year-over-year, driven by growth in Sample Management Solutions and Multiomics [2][7] - The diluted EPS from continuing operations was $(0.40), compared to $(0.29) in the same quarter of the previous year, indicating a significant loss [2][24] - The company has a strong cash position with total cash, cash equivalents, and marketable securities amounting to $540 million as of March 31, 2025 [14] Financial Performance - Revenue from continuing operations was $143 million, down 3% from the previous quarter but up 5% year-over-year [2][7] - Organic revenue growth was 6% year-over-year, with Sample Management Solutions revenue at $80 million, up 8% year-over-year [2][7] - Adjusted EBITDA for continuing operations was $14 million, with an adjusted EBITDA margin of 10.0%, an improvement of 400 basis points year-over-year [2][7] Management Commentary - The CEO highlighted the company's strong performance amidst a challenging macroeconomic environment, emphasizing the resilience of the portfolio and the commitment of the teams [3] - The management expressed confidence in the company's positioning and disciplined operations while navigating uncertainties [3] Cash Flow and Guidance - Operating cash flow for the quarter was $14 million, with capital expenditures of $7 million, resulting in free cash flow of $7 million [14] - The company reiterated its revenue guidance for fiscal year 2025, expecting total organic revenue growth in the range of 3% to 5% compared to fiscal 2024 [14]

Company Overview - Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions globally, facilitating faster market access for impactful breakthroughs and therapies [3] - The company offers a comprehensive range of reliable cold-chain sample management solutions and multiomics services, focusing on drug development, clinical research, and advanced cell therapies [3] - Azenta operates under several industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, and Barkey [3] Financial Announcement - Azenta will announce its fiscal second quarter 2025 earnings on May 7, 2025, before the market opens, covering the period that ended on March 31, 2025 [1] - A conference call and live webcast to discuss the financial results will take place on the same day at 8:30 a.m. Eastern Time, accessible via the Azenta website [2] - A replay of the conference call will be available starting at 8:30 a.m. ET on May 8, 2025 [2] Operational Footprint - Azenta is headquartered in Burlington, Massachusetts, with operational presence in North America, Europe, and Asia [4]