Azenta, Inc. · NASDAQ:AZTA
Azenta — Q1 FY2023 Earnings Presentation
14 slides from Azenta's earnings presentation, Feb 8, 2023
Slide 1: First Quarter Fiscal 2023 Financial Results
1 Azenta Life Sciences | Proprietary and confidential. Conference Call Fir s t Q u a r t e r Fis c al 2 0 2 3 Fin a n cial R e s ults February 8, 2023
Slide 2: Safe Harbor Statement Regulation G
2 Azenta Life Sciences | Proprietary and confidential. Safe Harbor Statement Regulation G This presentation contains certain non-GAAP measures which are provided to assist in an understanding of the Azenta business and its operational performance. These measures should always be considered in conjun
Slide 3: Azenta Life Sciences Q1 FY 2023 Overview
3 Azenta Life Sciences | Proprietary and confidential. Azenta Life Sciences Q1 FY 2023 Overview Continuing Operations – Quarter and Ended December 31, 2022 Q1’23 revenue of $178M, up 28% YtY; Organic growth ex-COVID of 7% YtY • Products +15% YtY organic ex-COVID driven by automated systems (+23%) an
Slide 4: Azenta Life Sciences Operating Performance
4 Azenta Life Sciences | Proprietary and confidential. Azenta Life Sciences Operating Performance Continuing Operations – Quarter Ended December 31, 2022 $ millions, except EPS See Appendix to this presentation for a reconciliation of GAAP to non-GAAP • 7% organic growth year over year excluding est
Slide 5: Life Sciences Products Performance
5 Azenta Life Sciences | Proprietary and confidential. Life Sciences Products Performance Quarter Ended December 31, 2022 Products Revenue Growth (YtY) • B Medical and Barkey acquisitions contributed $46M • 15% organic growth excluding estimated COVID impact $ millions See Appendix to this presentat
Slide 6: Life Sciences Services Performance
6 Azenta Life Sciences | Proprietary and confidential. Life Sciences Services Performance Quarter Ended December 31, 2022 Services Revenue Growth (YtY) • 4% organic growth excluding estimated COVID impact • Genomics +2% • SRS +10% $ millions See Appendix to this presentation for a reconciliation of
Slide 7: Summary Consolidated Balance Sheet
7 Azenta Life Sciences | Proprietary and confidential. Summary Consolidated Balance Sheet • $1.4B cash, cash equivalents, restricted cash and marketable securities at 12/31/22 • $1.5B share repurchase authorization 9 $500M launched via accelerated share repurchase in November 2022 • Additional $500M
Slide 8: Q2'23 Guidance
8 Azenta Life Sciences | Proprietary and confidential. Q2’23 Guidance See Appendix to this presentation for a reconciliation of GAAP to non-GAAP Projected Q2’23 Revenue Growth ( 23 (YtY) Q2'23 Reported ~13% Organic ~(5)% Organic ex COVID ~2% FY 2023 • Targeting FY23 reported revenue growth of 30% •
Slide 9: Appendix
9 Azenta Life Sciences | Proprietary and confidential. Appendix
Slide 10: GAAP to Non-GAAP Reconciliation Total Azenta
10 Azenta Life Sciences | Proprietary and confidential. GAAP to Non-GAAP Reconciliation Continuing Operations – Total Azenta $ millions, except EPS Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Revenue 139.7 145.5 132.7 137.6 178.4 GAAP gross profit 67.0 70.8 59.6 58.1 73.9 Gross profit margin 48.0% 48.7%
Slide 11: GAAP to Non-GAAP Reconciliation Segments
11 Azenta Life Sciences | Proprietary and confidential. GAAP to Non-GAAP Reconciliation Continuing Operations – Segments $ millions, except EPS Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Life Sciences Products Revenue 49.9 53.6 47.4 48.4 89.7 GAAP gross profit 22.7 26.3 21.0 19.1 33.0 Gross profit marg
Slide 12: Net Income to Adjusted EBITDA Reconciliation
12 Azenta Life Sciences | Proprietary and confidential. Net Income to Adjusted EBITDA Reconciliation Continuing Operations $ millions Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Net income 43.3 2,119.9 (9.6) (20.8) (11.2) Income (Loss) from discontinued operations, net of tax (40.5) (2,121.7) 2.6 15.5 -
Slide 13: Operating Profit to Adjusted EBITDA Reconciliation Segments
13 Azenta Life Sciences | Proprietary and confidential. Operating Profit to Adjusted EBITDA Reconciliation Continuing Operations – Segments $ millions Life Science Products Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Operating Profit (Loss) 4.2 5.0 2.0 (0.1) (3.8) Adjustments: Depreciation 0.7 0.9 0.9 1
Slide 14: Calculation of Organic Revenue Excluding COVID
14 Azenta Life Sciences | Proprietary and confidential. Calculation of Organic Revenue Excluding COVID Continuing Operations Note: The Company has referenced in the explanation of revenue the estimated impact of COVID. Estimated impact of COVID includes the estimated revenue contribution from produc