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Azenta, Inc. (NASDAQ: AZTA) is a global leader in providing advanced life sciences solutions, empowering breakthrough therapies and expediting their market reach. Headquartered in Burlington, MA, Azenta operates across North America, Europe, and Asia, catering to top pharmaceutical, biotech, academic, and healthcare institutions worldwide.
Azenta offers a comprehensive array of reliable cold-chain sample management solutions and genomic services, spanning critical areas such as drug development, clinical research, and advanced cell therapies. The company’s core business is divided into two segments: Life Sciences Products and Life Sciences Services, with the latter being the primary revenue driver.
Recent achievements highlight Azenta's robust financial health and strategic initiatives. In the fourth quarter of fiscal 2023, the company delivered impressive results amidst challenging economic conditions, underscored by robust cost reduction programs and strategic investments in its sales force. This progress translates into a promising outlook for fiscal 2024, with expected organic revenue growth of 5 to 8%, continued margin expansion, and positive free cash flow.
Azenta's commitment to driving long-term shareholder value is evident through its planned $500 million share repurchase initiative for fiscal 2024. This underscores the company's strong balance sheet and ample liquidity, which includes approximately $500 million in available cash for strategic investments.
Key partnerships and expansions further solidify Azenta's industry footprint. The recent opening of a new Genomics Laboratory in Oxford, UK, enhances its reach, providing local researchers with advanced next-generation sequencing technologies and expertise. Additionally, Azenta has been selected by the Crohn's & Colitis Foundation to manage sample services for significant research cohorts, emphasizing its pivotal role in advancing precision medicine.
Azenta’s portfolio showcases industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, Barkey, and B Medical Systems, which deliver essential support and innovation in life sciences research and development.
The company is also noted for its prudent use of non-GAAP financial measures, providing investors with a clear perspective on operational results relative to industry peers. These measures complement traditional GAAP results by adjusting for items like amortization of intangible assets and restructuring charges, offering a more comprehensive view of financial performance.
As Azenta continues to navigate its transformational journey, including a CEO succession plan aimed at sustaining growth and innovation, it remains committed to its mission of accelerating impactful therapies and supporting the global scientific community.
Azenta (Nasdaq: AZTA) has announced its participation in the Stephens Annual Investment Conference on Wednesday, November 20, 2024. The company's management will deliver a presentation starting at 1:00 pm CT. Investors and interested parties can access the live webcast through Azenta's investor relations website. A replay option will be made available after the event concludes.
Azenta reported its Q4 and FY 2024 results, highlighting a 4% revenue growth in Sample Management Solutions and Multiomics. The company anticipates a 3%-5% organic revenue growth for FY 2025 and a 300 basis points EBITDA margin expansion. For Q4, revenue was $170 million, down 1% YoY, with a 2% organic decline. Sample Management Solutions and Multiomics grew by 5% and 8% organically, respectively, while B Medical Systems saw a 35% decline. FY 2024 revenue was $656 million, down 1% YoY, driven by a 27% decline in B Medical Systems revenue. The company reported an operating loss of $201 million for FY 2024, with a non-GAAP diluted EPS of $0.41. Azenta plans to sell B Medical Systems to focus on core businesses and appointed Lawrence Y. Lin as the new CFO. They ended FY 2024 with $522 million in cash and equivalents and repurchased 4.9 million shares worth $249 million in Q4.
Azenta (Nasdaq: AZTA) has scheduled its fiscal fourth quarter and full year 2024 earnings announcement for Tuesday, November 12, 2024, after market close. The company will host a conference call and live webcast at 4:30 p.m. Eastern Time on the same day to discuss the financial results for the period ended September 30, 2024. A replay of the webcast will be available starting at 8:30 a.m. ET on November 13, 2024.
Azenta (NASDAQ: AZTA) has appointed three new independent directors to its Board: William Cornog (former head of KKR Capstone), Quentin Koffey (Founder of Politan Capital Management, owning 9.4% of Azenta), and Alan Malus (former Executive VP of Thermo Fisher). The company established a new Value Creation Committee to focus on long-term value creation, growth initiatives, and capital deployment. The committee will be chaired by William Cornog and includes the new directors along with CEO John Marotta and current director Martin Madaus. Azenta has also reaffirmed its full-year 2024 financial guidance previously announced on August 6th, 2024.
Azenta (Nasdaq: AZTA) has become the first commercial provider to receive regulatory approval for a clinical long-read Whole Genome Sequencing (WGS) test in the United States. The test, utilizing PacBio's Revio sequencer for HiFi sequencing, is performed in GENEWIZ's CLIA-certified and CAP-accredited clinical genomics laboratory. This breakthrough enables precise detection of complex genomic alterations associated with rare diseases that are typically undetectable through traditional short-read sequencing methods. The technology provides comprehensive genome analysis by capturing long DNA stretches in single reads, enhancing diagnostic accuracy for rare diseases.
Azenta, Inc. (Nasdaq: AZTA) has announced a significant leadership change. John P. Marotta will join as President and CEO on September 9, 2024, succeeding retiring Dr. Stephen Schwartz. Marotta brings two decades of experience in life sciences, medical devices, and diagnostics. He joins from Patient Square Capital and previously served as CEO of PHC Holdings The appointment follows a rigorous search process led by the Board. Frank E. Casal, Chairman of Azenta's Board, expressed confidence in Marotta's ability to lead the company's next growth phase. Dr. Schwartz, who led Azenta for 14 years, will remain as an advisor to ensure a smooth transition.
Azenta's GENEWIZ is celebrating its 25th anniversary with the launch of GENEWIZ Week from September 16-20, 2024. This event showcases GENEWIZ's commitment to advancing scientific discoveries through cutting-edge solutions. The week-long celebration includes:
- Virtual workshops followed by interactive expert roundtables
- An awards program offering $50,000 in research funding
- Engaging promotions and giveaways
The event aims to support researchers in overcoming challenges and streamlining their work. Ginger Zhou, SVP & GM of GENEWIZ Multiomics and Synthesis Solutions, emphasized the company's dedication to providing tools and support for significant scientific discoveries. Registration for GENEWIZ Week 2024 is now open, offering researchers opportunities for learning, networking, and celebration.
Azenta (Nasdaq: AZTA) reported its third-quarter results for fiscal 2024, ending June 30, 2024. The company achieved revenue of $173 million, up 4% YoY, driven by growth in Sample Management Solutions and B Medical Systems. Organic revenue grew by 5% YoY. Non-GAAP diluted EPS from continuing operations increased to $0.16 from $0.13. Adjusted EBITDA rose 39% to $18 million, with a margin of 10.3%. The company repurchased 4.2 million shares for $225.9 million. Azenta revised its FY2024 guidance, lowering revenue expectations to $652-$658 million but raising earnings guidance to $0.30-$0.36 per share. Operating cash flow was $2 million, and the company had $754 million in cash and equivalents at the quarter's end. The company will host an earnings call, accessible on its investor relations website.
Azenta (Nasdaq: AZTA) has announced its participation in the 9th Annual Needham Virtual MedTech & Diagnostics 1x1 Conference. The event is scheduled for Monday, August 12, 2024. This conference provides a platform for companies in the medical technology and diagnostics sectors to engage with investors and industry professionals.
The virtual format of the conference allows for efficient one-on-one meetings between company management and attendees. Azenta's participation suggests its commitment to maintaining investor relations and showcasing its position in the MedTech and diagnostics markets. This event could offer insights into Azenta's strategies, recent developments, and future outlook in the rapidly evolving healthcare technology landscape.
Azenta (Nasdaq: AZTA) is set to announce its fiscal third quarter 2024 earnings on Tuesday, August 6, 2024, after the market closes. The earnings pertain to the quarter ending on June 30, 2024. The company will also host a conference call and live webcast to discuss the financial results at 4:30 p.m. Eastern Time on the same day. Interested parties, including analysts, investors, and media, can access the live webcast through the Azenta website. Additionally, a replay of the webcast will be available starting at 8:30 a.m. ET on August 7, 2024.
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