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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 two investor conferences in March 2023. The first event is the Cowen 43rd Annual Health Care Conference in Boston, MA, on March 7th, featuring a presentation at 12:50 pm ET. The second is the Barclays Global Healthcare Conference in Miami, FL, on March 15th, with a presentation starting at 3:35 pm ET. Investors can access the live webcasts via the Azenta investor relations website, with replays available thereafter. Azenta provides life sciences solutions, focusing on cold-chain sample management and genomic services for global healthcare institutions.
Azenta (NASDAQ: AZTA) has launched the Cryo Store Pico™, an automated cryogenic storage system aimed at high-value biological samples across various stages of life sciences. The Pico enhances sample integrity and regulatory compliance, offering features specifically tailored for cell and gene therapy developers. It facilitates controlled access and traceability while maintaining a compact design for clinical use. The product is now available for order and will be showcased at the SLAS 2023 International Conference in San Diego, CA. Azenta aims to speed up breakthroughs in life sciences with its innovative cryogenic solutions.
Ansa Biotechnologies has appointed Dr. Matthew F. McManus as Independent Director and Chairperson of its Board of Directors. Dr. McManus, who has extensive experience in the life sciences industry, was previously the EVP and COO at Azenta (NASDAQ:AZTA). He has held leadership roles at Bio-Techne and PrimeraDx, leading key transformations in the molecular diagnostics sector. His expertise is expected to enhance Ansa's growth, particularly in commercializing its proprietary DNA synthesis technology, which promises advancements in medicine, agriculture, and industrial biology.
Azenta, Inc. (Nasdaq: AZTA) will participate in the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 15-16, 2023. Interested participants should contact their BTIG representative to attend. Azenta is recognized globally for providing life sciences solutions, facilitating faster market delivery of breakthroughs and therapies. Their comprehensive offerings include cold-chain sample management and genomic services, primarily serving pharmaceutical, biotech, academic, and healthcare institutions worldwide. The company is based in Burlington, MA, with operations spanning North America, Europe, and Asia.
Azenta, Inc. (Nasdaq: AZTA) reported Q1 2023 revenue of $178 million, a 28% year-over-year increase, driven by an 80% surge in Life Sciences Products revenue, thanks to the acquisition of B Medical. Organic revenue growth, excluding COVID impacts, stood at 7%.
Despite these gains, the company recorded a diluted EPS loss of ($0.15) and an operating loss of $28 million. Management aims to streamline operations for a projected 2% margin improvement in the second half of FY23. Guidance for Q2 2023 estimates revenue between $156 million and $171 million with a non-GAAP EPS forecast of (0.04) to 0.04.
Azenta, Inc. (Nasdaq: AZTA) is set to announce its fiscal first quarter 2023 earnings on February 8, 2023, after market close. The earnings period concluded on December 31, 2022. Following the announcement, the company will hold a conference call at 4:30 p.m. ET to discuss the financial results. Analysts and investors can dial in or access the live webcast via the Azenta website. Azenta, headquartered in Burlington, MA, provides life sciences solutions, including cold-chain sample management and genomic services, aiding pharmaceutical, biotech, and healthcare sectors globally.
Azenta, Inc. (NASDAQ: AZTA) has announced the acquisition of Ziath, Ltd., a leading provider of 2D barcode readers based in Cambridge, UK, enhancing Azenta's life sciences workflow solutions. This strategic acquisition is expected to improve offerings across the sample lifecycle, aligning with Azenta's current products. CEO Neil Benn will continue leading Ziath under Azenta’s umbrella. The transaction is anticipated to be accretive to non-GAAP earnings for FY 2023 and GAAP earnings for FY 2024, showcasing a promising financial outlook.
Azenta, Inc. (Nasdaq: AZTA) will participate in the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, in San Francisco, CA. The management presentation is scheduled for 3:45 pm PST, and a live webcast will be accessible via the Azenta investor relations website. A replay will be available after the event. Azenta specializes in life sciences solutions, offering cold-chain sample management and genomic services to support drug development and clinical research globally.
Azenta, Inc. (Nasdaq: AZTA) announced its participation in the 25th Annual Needham Growth Conference on January 11, 2023, in New York, NY. The presentation will begin at 11:00 am ET and can be accessed via a live webcast on Azenta's investor relations website. Following the event, a replay will be available. Azenta is known for providing life sciences solutions, including cold-chain sample management and genomic services, aimed at accelerating breakthroughs in drug development and advanced therapies.
Cabot Corporation (NYSE: CBT) announced the promotion of three senior leaders to Executive Vice President: Hobart C. Kalkstein, Erica McLaughlin, and Jeff Zhu. Kalkstein oversees the Reinforcement Materials Segment, McLaughlin serves as CFO and Head of Corporate Strategy, and Zhu directs the Performance Chemicals Segment. CEO Sean Keohane praised their significant contributions and expressed excitement about their expanded roles in driving the company's growth strategy. This leadership enhancement is seen as a strategic move to bolster Cabot's performance and sustainability initiatives.
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