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Mar 31, 2024
Azenta Q2 2024 Earnings Report
Reported strong organic revenue growth and improved profitability due to cost reduction and transformation initiatives.
Key Takeaways
Azenta reported a 7% increase in revenue year-over-year, driven by higher B Medical Systems and Sample Management Solutions revenues. The company saw improved profitability due to ongoing cost reduction and transformation initiatives.
Revenue was $159 million, up 7% year over year.
Organic revenue was up 7% year over year.
Sample Management Solutions revenue was $74 million, up 4% year over year.
B Medical Systems revenue was $23 million, up 51% year over year.
Azenta
Azenta
Azenta Revenue by Segment
Revenue by Segment
Sample Management Solutions Revenue
CapyFin.comMultiomics Revenue
CapyFin.com Forward Guidance
The Company is lowering revenue guidance for fiscal year 2024 while raising earnings guidance.
Positive Outlook
- Adjusted EBITDA margin expansion is expected to be approximately 300 basis points.
- Total revenue is now expected to be in the range of $659 to $671 million.
- Total organic revenue in the range of down 1% to up 1% relative to fiscal year 2023.
- Non-GAAP diluted earnings per share is expected to be in the range of $0.27 to $0.37.
Challenges Ahead
- Total revenue is now expected to be in the range of $659 to $671 million due to the timing of B Medical revenue.
- Total organic revenue in the range of down 1% to up 1% relative to fiscal year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income