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Dec 31, 2023
Azenta Q1 2024 Earnings Report
Azenta's Q1 2024 earnings were reported, showing revenue ahead of expectations with progress in cost reduction initiatives and positive free cash flow.
Key Takeaways
Azenta's first quarter results exceeded expectations, with revenue at $154 million. The company has made progress on cost reduction initiatives, leading to the third consecutive quarter of positive free cash flow. While the market environment remains soft, Azenta is positive about its position and expects to continue outgrowing the market throughout fiscal 2024.
Revenue was $154 million, a 13% decrease year-over-year.
Organic revenue declined 15% year-over-year, excluding a 1% foreign exchange tailwind and a 1% contribution from acquisitions.
Sample Management Solutions revenue was $79 million, up 5% year-over-year.
Multiomics revenue was $63 million, up 3% year-over-year.
Revenue by Segment
Forward Guidance
The company is reiterating revenue and earnings guidance for fiscal year 2024.
Positive Outlook
- Total revenue is expected to be in the range of $696 to $718 million.
- Total organic revenue growth in the range of 5% to 8% relative to fiscal year 2023 is expected.
- Adjusted EBITDA margin expansion is expected to be approximately 300 basis points.
- Non-GAAP diluted earnings per share is expected to be in the range of $0.19 to $0.29.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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