Business
Azenta Reports Third Quarter Results for Fiscal 2024, Ended June 30, 2024
BURLINGTON, Mass., Aug. 6, 2024 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today reported financial results for the third quarter ended June 30, 2024.
About this update from Azenta, Inc.
[{"type":"text","content":"BURLINGTON, Mass., Aug. 6, 2024 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today reported financial results for the third quarter ended June 30, 2024.\nQuarter Ended\nDollars in millions, except per share data\nJune 30,\nMarch 31,\nJune 30,\nChange\n2024\n2024\n2023\nPrior Qtr\nPrior Yr.\nRevenue from Continuing Operations\n$\n173\n$\n159\n$\n166\n9\n%\n4\n%\nOrganic growth\n5\n%\nSample Management Solutions\n$\n81\n$\n74\n$\n75\n9\n%\n7\n%\nMultiomics\n$\n64\n$\n62\n$\n64\n2\n%\n(0)\n%\nB Medical Systems\n$\n29\n$\n23\n$\n27\n25\n%\n7\n%\nDiluted EPS Continuing Operations\n$\n(0.12)\n$\n(2.47)\n$\n(0.04)\n95\n%\nnm\nDiluted EPS Total\n$\n(0.12)\n$\n(2.47)\n$\n(0.02)\n95\n%\nnm\nNon-GAAP Diluted EPS Continuing Operations\n$\n0.16\n$\n0.05\n$\n0.13\nnm\n25\n%\nAdjusted EBITDA - Continuing Operations\n$\n18\n$\n9\n$\n13\n89\n%\n39\n%\nAdjusted EBITDA Margin - Continuing Operations\n10.3\n%\n5.9\n%\n7.8\n%\n \nManagement Comments \n\"We delivered another solid quarter with above market growth, that together with the disciplined execution of our transformation initiatives, contributed to meaningful margin expansion and increased profitability,\" said Steve Schwartz, President and CEO. \"We are delivering not only to outsized growth, but also the operational transformation that will enable long-term scale, efficiency, and profitability for Azenta.\" \nThird Quarter Fiscal 2024 Results\nRevenue was $173 million, up 4% year over year. Organic revenue, which excludes the impacts from foreign exchange, was up 5% year over year. The year-over-year revenue increase was attributable to higher Sample Management Solutions and B Medical Systems (\"B Medical\") revenues. The combined Sample Management Solutions and Multiomics business segments grew 4% on an organic basis.Sample Management Solutions revenue was $81 million, up 7% year over year.Organic revenue also grew 7%, mainly driven by higher revenues in Sample Repository Solutions and Core Products, particularly in Large-automated and Cryogenic Stores and in Consumables and Instruments.Multiomics revenue was $64 million, flat year over year.Organic revenue grew 1% year over year, primarily driven by growth in Gene Synthesis and Next Generation Sequencing services, offset by a year-over-year decline in Sanger sequencing revenue.B Medical Systems revenue was $29 million, up 7% year over yea...