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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, Inc. (Nasdaq: AZTA) announced its participation in the 22nd Annual Needham Virtual Healthcare Conference scheduled for April 18, 2023, with a presentation starting at 9:30 am ET. Investors can access the live webcast via Azenta's investor relations website, and a replay will be available after the event.
Azenta is a leading provider of life sciences solutions, focusing on enhancing drug development and clinical research. The company offers a comprehensive range of cold-chain sample management solutions and genomic services for pharmaceutical, biotech, and healthcare institutions globally. Headquartered in Burlington, MA, Azenta operates in North America, Europe, and Asia. For further details, visit www.azenta.com.
Azenta, Inc. (Nasdaq: AZTA) will participate in the Virtual KeyBanc Capital Markets Life Sciences & MedTech Investor Forum on March 21, 2023, with a presentation starting at 4:30 pm ET. Investors can access the live webcast on the Azenta investor relations website and a replay will be available after the event. Azenta is a global leader in life sciences solutions, offering cold-chain sample management and genomic services for drug development and clinical research. Headquartered in Burlington, MA, the company operates across North America, Europe, and Asia.
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