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Mar 31, 2023
Azenta Q2 2023 Earnings Report
Azenta's Q2 2023 financial performance reflected progress in services, offset by product performance issues, and announced a business realignment.
Key Takeaways
Azenta's Q2 2023 revenue was $148 million, a 2% increase year-over-year. The company reported a diluted EPS from continuing operations of ($0.03) and a non-GAAP diluted EPS from continuing operations of ($0.06). A business realignment was announced to enhance commercial strategy and profitability.
Revenue increased by 2% year over year to $148 million, but decreased 17% sequentially.
Life Sciences Products revenue increased 10% year over year, driven by the addition of B Medical.
Life Sciences Services revenue declined 3% year over year, with organic revenue flat.
The company announced a business realignment plan to enhance commercial strategy and profitability.
Azenta
Azenta
Forward Guidance
The Company announced revenue and earnings guidance for the third quarter fiscal 2023. Total revenue is expected to be in the range of $150 to $168 million. Non-GAAP diluted earnings per share is expected to be in the range of ($0.07) to $0.03. GAAP diluted earnings per share from continuing operations is expected to be in the range of ($0.29) to ($0.19).