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Jun 30, 2024
Azenta Q3 2024 Earnings Report
Azenta's financial performance for Q3 2024, marked by revenue growth and margin expansion, driven by transformation initiatives and disciplined execution.
Key Takeaways
Azenta reported a solid third quarter with revenue of $173 million, a 4% increase year-over-year, and significant margin expansion. The company's organic revenue grew by 5% year-over-year, driven by Sample Management Solutions and B Medical Systems. Adjusted EBITDA was $18 million, with an Adjusted EBITDA margin of 10.3%, reflecting a 260 basis point improvement year-over-year. Non-GAAP diluted EPS was $0.16, compared to $0.13 in the prior year.
Revenue reached $173 million, up 4% year-over-year, with organic revenue growing by 5%.
Sample Management Solutions revenue increased by 7% year-over-year, reaching $81 million.
Multiomics revenue was $64 million, remaining flat year-over-year with organic revenue growth of 1%.
B Medical Systems revenue grew by 7% year-over-year to $29 million, with organic revenue up 8%.
Revenue by Segment
Forward Guidance
Azenta is lowering its revenue guidance while raising its earnings guidance for fiscal year 2024.
Positive Outlook
- 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 $0.30 to $0.36.
Challenges Ahead
- Total revenue is expected to be in the range of $652 to $658 million due to the expected timing of orders in both B Medical and Sample Management Solutions.
- Total organic revenue is expected to be in the range of down 2% to down 1% relative to fiscal year 2023.
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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