Slide 1: Conference Call: Fourth Quarter and Full Year Fiscal 2024 Financial Results
Conference Call Fourth Quarter and Full Year Fiscal 2024 Financial Results November 12, 2024 1 © 2024 Azenta, Inc. • All rights reserved
Slide 2: Safe Harbor Statement
Safe Harbor Statement “Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Act of 1995; certain matters in this presentation, including forecasts of future demand and future Company performance, are forward-looking statements that are subject to risks and uncertainties that co
Slide 3: Strong finish to FY'24 with Momentum Heading into 2025
Strong finish to FY’24 with Momentum Heading into 2025; Renewed Focus on Growth and Long-Term Value Creation • Q4’24 & FY’24 revenue growth down (1%) reported and down (2%) organic, in line with guidance Strong Q4 & FY’24 Results • Improved profitability, expanded FY’24 Adj. EBITDA margin by ~300bps
Slide 4: Azenta Life Sciences Q4 & FY 2024 Financial Overview
Azenta Life Sciences Q4 & FY 2024 Financial Overview Continuing Operations – Quarter and Year Ended September 30, 2024 Balance Sheet and Revenue (YoY) Profitability Capital Allocation • Q4 revenue $170M, (1%) reported and • Non-GAAP EPS of $0.18 in Q4 and • Strong balance sheet with cash balance (2%
Slide 5: Azenta Operating Performance
Azenta Operating Performance Continuing Operations – Quarter and Year Ended September 30, 2024 Total Azenta Organic Growth Q1’24 Revenue Growth (YtY) Non-GAAP Non-GAAP Q4'23 Q4'24 YtY FY'23 FY'24 YtY Az enta | Q4 '2 4 QTD Revenue 172 170 (1%) 665 656 (1%) Gross profit 74 76 4% 291 292 0% Q4 '2 3 Q4
Slide 6: Q4 2024 Revenue Summary
Q4 2024 Revenue Summary Organic unless otherwise noted Sample Management Solutions (“SMS”) Sample Management Solutions 50% • Growth of 5% in SRS and 2% in Core Products • Growth of 67% in Cryogenic Stores and 14% in • $85 million C&I • 4% YoY reported • 3% YoY organic Multiomics Multiomics • $170 Mi
Slide 7: Summary Consolidated Balance Sheet
Summary Consolidated Balance Sheet Balance Sheet Q1’24 Revenue Growth (YtY) Highlights Jun Sep $ millions 2024 2024 QtQ Cash, restricted cash, short term marketable securities 599 464 (134) • $522M cash, cash Q1'23equivalents, Q1'24and YtY Accounts receivable, net 168 173 5 marketable securities as
Slide 8: Fiscal Year 2025 Guidance
Fiscal Year 2025 Guidance Continuing Operations Guidance, excluding B Medical Systems Metric FY’2025 Organic Growth: 3% to 5% YoY Revenue Multiomics: LSD Sample Management Solutions: MSD Adjusted 300bps of Adjusted EBITDA EBITDA margin expansion Other Interest Income:$16M - $18M Tax Rate: 27% - 29%
Slide 9: Appendix
Appendix 9 © 2024 Azenta, Inc. • All rights reserved
Slide 10: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Continuing Operations – Total Azenta $ millions, except EPS Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Revenue 178.4 148.4 165.9 172.4 665.1 154.3 159.1 172.8 170.1 656.3 GAAP gross profit 73.9 53.2 68.0 68.0 263.1 61.5 63.4 69.1 69.4 26
Slide 11: GAAP to Non-GAAP Reconciliation: Segments
GAAP to Non-GAAP Reconciliation Continuing Operations – Segments $ millions, except EPS Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Multiomics Revenue 61.1 62.2 63.8 61.1 248.3 62.7 62.2 63.6 66.0 254.6 Gross profit 27.7 27.0 28.3 26.8 109.8 28.5 27.7 29.2 30.0 115.4 Gr
Slide 12: GAAP to Non-GAAP Reconciliation – Continued
GAAP to Non-GAAP Reconciliation – Continued Continuing Operations – Segments $ millions, except EPS Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 B Medical Revenue 41.8 15.1 26.8 29.4 113.1 12.6 22.8 28.5 19.2 83.1 GAAP gross profit 14.1 (1.3) 4.8 2.9 20.5 (0.2) 2.7 3.6 (
Slide 13: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Continuing Operations $ millions Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Net income (11.2) (4.9) (1.5) 3.4 (14.3) (15.7) (136.9) (6.6) (5.0) (164.2) (Income) Loss from discontinued operations, net of tax - 2.9 (1.0) (0.6)
Slide 14: Calculation of Non GAAP Organic Revenue
Calculation of Non GAAP Organic Revenue Continuing Operations Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Revenue 28% 2% 25% 25% 20% (13%) 7% 4% (1%) (1%) Acquisitions/divestitures (33%) (13%) (24%) (22%) (23%) (1%) 0% 0% 0% 0% Currency exchange rates 4% 3% 0% (1%) 2% (