Azenta Reports Third Quarter Results for Fiscal 2025, Ended June 30, 2025; Reiterates Full Year Fiscal 2025 Guidance
Azenta (Nasdaq: AZTA) reported Q3 fiscal 2025 financial results with revenue from continuing operations at $144 million, flat year-over-year with a 2% organic decline. The company's performance showed mixed results across segments, with Multiomics revenue up 4% to $66 million, while Sample Management Solutions declined 4% to $78 million.
Notable improvements include Adjusted EBITDA of $18 million with a margin of 12.3%, up 260 basis points year-over-year, and Non-GAAP Diluted EPS of $0.19, up from $0.14 last year. The company maintains a strong financial position with $565 million in cash and equivalents. Azenta reiterated its fiscal 2025 guidance, expecting 3-5% organic revenue growth and approximately 300 basis points of Adjusted EBITDA margin expansion.
Azenta (Nasdaq: AZTA) ha comunicato i risultati finanziari del terzo trimestre dell'anno fiscale 2025, con ricavi dalle operazioni in corso pari a 144 milioni di dollari, stabili rispetto all'anno precedente, con un calo organico del 2%. La performance aziendale ha mostrato risultati contrastanti tra i segmenti, con un aumento del 4% dei ricavi Multiomics, che hanno raggiunto i 66 milioni di dollari, mentre le Soluzioni di Gestione dei Campioni sono diminuite del 4%, attestandosi a 78 milioni di dollari.
Tra i miglioramenti degni di nota si evidenziano un EBITDA rettificato di 18 milioni di dollari con un margine del 12,3%, in aumento di 260 punti base rispetto all'anno precedente, e un EPS diluito Non-GAAP di 0,19 dollari, in crescita rispetto a 0,14 dollari dell'anno scorso. L'azienda mantiene una solida posizione finanziaria con 565 milioni di dollari in liquidit脿 e equivalenti. Azenta ha confermato le previsioni per l'anno fiscale 2025, prevedendo una crescita organica dei ricavi tra il 3 e il 5% e un'espansione del margine EBITDA rettificato di circa 300 punti base.
Azenta (Nasdaq: AZTA) report贸 los resultados financieros del tercer trimestre del a帽o fiscal 2025, con ingresos por operaciones continuas de 144 millones de d贸lares, sin cambios respecto al a帽o anterior y con una disminuci贸n org谩nica del 2%. El desempe帽o de la compa帽铆a mostr贸 resultados mixtos entre segmentos, con ingresos de Multiomics que aumentaron un 4% hasta 66 millones de d贸lares, mientras que las Soluciones de Gesti贸n de Muestras disminuyeron un 4% hasta 78 millones de d贸lares.
Entre las mejoras destacadas se incluyen un EBITDA ajustado de 18 millones de d贸lares con un margen del 12,3%, un aumento de 260 puntos b谩sicos a帽o contra a帽o, y un EPS diluido Non-GAAP de 0,19 d贸lares, superior a los 0,14 d贸lares del a帽o pasado. La empresa mantiene una posici贸n financiera s贸lida con 565 millones de d贸lares en efectivo y equivalentes. Azenta reiter贸 su gu铆a para el a帽o fiscal 2025, esperando un crecimiento org谩nico de ingresos del 3-5% y una expansi贸n del margen EBITDA ajustado de aproximadamente 300 puntos b谩sicos.
Azenta (雮橃姢雼�: AZTA)電� 2025 須岅硠鞐半弰 3攵勱赴 鞛 瓴瓣臣毳� 氚滍憸頄堨溂氅�, 瓿勳啀 鞓侅梾鞐愳劀鞚� 毵れ稖鞚� 1鞏� 4,400毵� 雼煬搿� 鞝勲厔 雽�牍� 氤�霃欖澊 鞐嗢溂氅� 鞙犼赴鞝� 臧愳唽鞙潃 2%毳� 旮半頄堨姷雼堧嫟. 須岇偓鞚� 鞁れ爜鞚� 攵�氍鸽硠搿� 鞐囮皥毽� 瓴瓣臣毳� 氤挫榾電旊嵃, 氅�韹办槫氙轨姢 毵れ稖鞚� 4% 歃濌皜頃橃棳 6,600毵� 雼煬毳� 旮半頃� 氚橂┐, 靸橅攲 甏�毽� 靻旊（靺橃潃 4% 臧愳唽頃橃棳 7,800毵� 雼煬鞐� 毹鸽霠�鞀惦媹雼�.
欤茧頃� 毵岉暅 臧滌劆 靷暛鞙茧電� 臁办爼 EBITDA臧� 1,800毵� 雼煬搿� 毵堨鞚� 12.3%鞚措┌, 鞝勲厔 雽�牍� 260 氩犾澊鞁滌姢 韽澑韸� 靸侅姽頄堦碃, Non-GAAP 頋劃 欤茧嫻靾滌澊鞚�(EPS)鞚� 0.19雼煬搿� 鞛戨厔鞚� 0.14雼煬鞐愳劀 歃濌皜頄堨姷雼堧嫟. 須岇偓電� 5鞏� 6,500毵� 雼煬鞚� 順勱笀 氚� 順勱笀靹� 鞛愳偘鞙茧 瓴碃頃� 鞛 靸來儨毳� 鞙犾頃橁碃 鞛堨姷雼堧嫟. Azenta電� 2025 須岅硠鞐半弰 臧�鞚措崢鞀るゼ 鞛檿鞚疙晿氅� 3-5%鞚� 鞙犼赴鞝� 毵れ稖 靹膘灔瓿� 鞎� 300 氩犾澊鞁滌姢 韽澑韸胳潣 臁办爼 EBITDA 毵堨 頇曥灔鞚� 鞓堨儊頃橁碃 鞛堨姷雼堧嫟.
Azenta (Nasdaq : AZTA) a publi茅 ses r茅sultats financiers du troisi猫me trimestre de l'exercice 2025, avec un chiffre d'affaires provenant des activit茅s continues de 144 millions de dollars, stable par rapport 脿 l'ann茅e pr茅c茅dente, avec une baisse organique de 2%. La performance de l'entreprise a 茅t茅 contrast茅e selon les segments, avec un chiffre d'affaires Multiomics en hausse de 4% 脿 66 millions de dollars, tandis que les Solutions de gestion des 茅chantillons ont diminu茅 de 4% 脿 78 millions de dollars.
Parmi les am茅liorations notables figurent un EBITDA ajust茅 de 18 millions de dollars avec une marge de 12,3%, en hausse de 260 points de base sur un an, et un BPA dilu茅 Non-GAAP de 0,19 dollar, contre 0,14 dollar l'an dernier. L'entreprise conserve une position financi猫re solide avec 565 millions de dollars en liquidit茅s et 茅quivalents. Azenta a r茅it茅r茅 ses pr茅visions pour l'exercice 2025, anticipant une croissance organique du chiffre d'affaires de 3 脿 5% et une expansion d'environ 300 points de base de la marge EBITDA ajust茅e.
Azenta (Nasdaq: AZTA) meldete die Finanzergebnisse f眉r das dritte Quartal des Gesch盲ftsjahres 2025 mit einem Umsatz aus fortgef眉hrten Gesch盲ftsbereichen von 144 Millionen US-Dollar, unver盲ndert im Jahresvergleich bei einem organischen R眉ckgang von 2%. Die Unternehmensleistung zeigte gemischte Ergebnisse in den Segmenten, wobei der Umsatz im Bereich Multiomics um 4% auf 66 Millionen US-Dollar stieg, w盲hrend die Ums盲tze im Bereich Sample Management Solutions um 4% auf 78 Millionen US-Dollar zur眉ckgingen.
Bemerkenswerte Verbesserungen umfassen ein bereinigtes EBITDA von 18 Millionen US-Dollar mit einer Marge von 12,3%, ein Anstieg um 260 Basispunkte im Jahresvergleich, sowie ein Non-GAAP verw盲ssertes Ergebnis je Aktie (EPS) von 0,19 US-Dollar, gegen眉ber 0,14 US-Dollar im Vorjahr. Das Unternehmen verf眉gt 眉ber eine starke Finanzlage mit 565 Millionen US-Dollar an liquiden Mitteln und 脛quivalenten. Azenta best盲tigte seine Prognose f眉r das Gesch盲ftsjahr 2025 und erwartet ein organisches Umsatzwachstum von 3-5% sowie eine Ausweitung der bereinigten EBITDA-Marge um etwa 300 Basispunkte.
- Adjusted EBITDA margin improved significantly to 12.3%, up 260 basis points year-over-year
- Strong balance sheet with $565 million in cash and equivalents
- Positive free cash flow of $15 million in the quarter
- Operating expenses reduced by 6% year-over-year
- Gross margin improved 170 basis points to 47.1%
- Multiomics segment showed 4% revenue growth
- Organic revenue declined 2% year-over-year
- Sample Management Solutions revenue decreased 4% to $78 million
- $50 million non-cash impairment charge in discontinued operations
- Operating loss of $0.7 million with negative operating margin of -0.5%
- Net interest income decreased to $5 million from $8 million in prior year
Insights
Azenta's Q3 shows margin improvement despite flat revenue; operational turnaround progressing with strong cost discipline.
Azenta's Q3 results reflect a company in transition, successfully executing its cost discipline strategy while navigating revenue challenges. Revenue remained flat year-over-year at
The financial improvements are most evident in profitability metrics. Adjusted EBITDA increased to
Cost control measures are clearly bearing fruit - operating expenses decreased
The
Management's reaffirmation of full-year guidance (organic revenue growth of
The results of B Medical Systems are treated as discontinued operations and reflected in total diluted EPS, following the Company's announcement in the first听fiscal quarter of 2025听of its intention听to pursue a sale. |
Quarter Ended | ||||||||||||||||||||
Dollars in millions, except per share data | June 30, | March 31, | June 30, | Change | ||||||||||||||||
2025 | 2025 | 2024 | Prior Qtr | Prior Yr. | ||||||||||||||||
Revenue from Continuing Operations | $ | 144 | $ | 143 | $ | 144 | 0 | % | (0) | % | ||||||||||
Organic growth | (2) | % | ||||||||||||||||||
Sample Management Solutions | $ | 78 | $ | 80 | $ | 81 | (3) | % | (4) | % | ||||||||||
Multiomics | $ | 66 | $ | 64 | $ | 64 | 4 | % | 4 | % | ||||||||||
Diluted EPS Continuing Operations | $ | 0.01 | $ | (0.40) | $ | (0.00) | NM | NM | ||||||||||||
Diluted EPS Total | $ | (1.15) | $ | (0.88) | $ | (0.12) | (30) | % | NM | |||||||||||
Non-GAAP Diluted EPS Continuing Operations | $ | 0.19 | $ | 0.05 | $ | 0.14 | NM | 31 | % | |||||||||||
Adjusted EBITDA - Continuing Operations | $ | 18 | $ | 14 | $ | 14 | 24 | % | 27 | % | ||||||||||
Adjusted EBITDA Margin - Continuing Operations | 12.3 | % | 10.0 | % | 9.7 | % | ||||||||||||||
Management Comments听
"We've听made significant changes across the organization and our operational turnaround is progressing as planned. Despite a challenging macro environment, we drove meaningful margin expansion through disciplined cost management and focused execution," said John Marotta, President and CEO. "With a strong balance sheet and solid cash flow, we're well positioned to capitalize on future opportunities. We remain on track to meet our full-year goals and are confident that the foundation we are building will support our long-term strategy."
Third Quarter Fiscal 2025 Results - Continuing Operations
- Revenue was
$144鈥痬颈濒濒颈辞苍 , flat year over year. Organic revenue, which excludes the impact鈥痜rom foreign exchange, declined2% year over year. The year-over-year revenue performance reflects higher revenue in Multiomics, offset by lower revenue in Sample Management Solutions. - Sample Management Solutions revenue was
$78 million 4% year over year.- Organic revenue declined
6% , driven by lower revenues in鈥疌ore Products, particularly in Automated Stores and Cryogenic Systems, partially offset by higher revenue in Sample Storage, Clinical Biostores and Product Services.
- Organic revenue declined
- Multiomics revenue was
$66 million 4% year over year.- Organic revenue grew
3% year over year, primarily driven by growth in Next Generation Sequencing, partially offset by a year-over-year decline in Sanger Sequencing and Gene Synthesis.
- Organic revenue grew
Summary of GAAP Earnings Results - Continuing Operations
- Operating loss was
$0.7 million 0.5% ), up 440鈥痓asis points year over year.- Gross margin was
47.1% , up 170 basis points year over year, mainly driven by favorable sales mix, operating efficiencies, and improved cost execution. - Operating expenses were
$68 million 6% year over year, due to lower selling, general and administrative expenses, lower research and development costs, and lower restructuring charges.听
- Gross margin was
- Other income included
$5 million $8.0 million - Diluted EPS from continuing operations was
$0.01 $0.00 $1.17 $50 million $1.15 $0.12
Summary of Non-GAAP Earnings Results - Continuing Operations
- Adjusted operating income鈥痺as
$7 5.5% , an improvement of 340鈥痓asis points year over year.听- Adjusted gross margin was
48.5% , up鈥�180鈥痓asis points compared to the third鈥痲uarter鈥痮f fiscal 2024, primarily driven by favorable sales mix, operating efficiencies, and improved cost execution. - Adjusted operating expense in the quarter was
$62鈥痬颈濒濒颈辞苍 , down4% year over year, driven by lower selling, general and administrative expenses and lower research and development costs.听
- Adjusted gross margin was
- Adjusted EBITDA was
$18 million 12.3% , an improvement of 260 basis points year over year. - Non-GAAP Diluted EPS was
$0.19 $0.14
Cash and Liquidity as of June听30, 2025
- The Company ended the quarter with a total balance of cash, cash equivalents, restricted cash and marketable securities of
$565 million $15 million - Operating cash flow was
$26 million $11 million $15 million
Guidance for Continuing Operations for Full Year Fiscal 2025
- The Company is reiterating its guidance for fiscal year 2025:
- Total organic revenue is expected to grow in the range of
3% to5% relative to fiscal 2024. - Adjusted EBITDA margin expansion is expected to be approximately 300 basis points relative to fiscal 2024.
- Total organic revenue is expected to grow in the range of
Azenta does not provide forward-looking guidance on a GAAP basis for the measures on which it provides forward-looking non-GAAP guidance as the Company is unable to provide a quantitative reconciliation of forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP measure, without unreasonable effort, because of the inherent difficulty in accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliations that have not yet occurred, are dependent on various factors, are out of the company's control, or cannot be reasonably predicted. Such adjustments include, but are not limited to, transformation costs, restructuring charges, costs related to acquisitions and divestitures costs, governance-related matters, goodwill and intangible impairments, and other gains and charges that are not representative of the normal operations of the business.
Conference Call and Webcast
Azenta management will webcast its third听quarter fiscal 2025听earnings conference call today at 8:30 a.m. Eastern Time. During the call, Company management will respond to questions concerning, but not limited to, the Company's financial performance, business conditions and industry outlook. Management's responses could contain information that has not been previously disclosed.听
The call will be broadcast live over the Internet and, together with presentation materials referenced on the call, will be hosted at the Investor Relations section of Azenta's website at and will be archived online on this website for convenient on-demand replay.
Regulation G 鈥� Use of Non-GAAP financial Measures
The Company supplements its GAAP financial measures with certain non-GAAP financial measures to provide investors a better perspective on the results of business operations, which the Company believes is more comparable to the similar analyses provided by its peers. These measures are not presented in accordance with, nor are they a substitute for,
"Safe Harbor Statement" under Section 21E of the Securities Exchange Act of 1934
Some听statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Azenta's financial and business results to differ materially from our听expectations. They are based on the facts known to management at the time they are made. Forward-looking statements include but are not limited to statements about our revenue and earnings expectations, our ability to realize margin improvement from cost reductions, and our ability to deliver financial success in the future and otherwise related to future operating or financial performance and opportunities. Factors that could cause results to differ from our听expectations include the following: uncertainties in global political and economic conditions, including the imposition of additional tariffs on goods imported into the US, our ability to reduce costs effectively; the volatility of the life sciences markets the Company serves; our possible inability to meet demand for our products due to difficulties in obtaining components and materials from our suppliers in required quantities and of required quality; the inability听of customers to make payments to us when due; price competition; disputes concerning intellectual property; and other factors and other risks, including those that we have described in our filings with the Securities and Exchange Commission, including but not limited to听our Annual Report on Form 10-K, Current Reports on Form 8-K and our Quarterly Reports on Form 10-Q. As a result, we can provide no assurance that our future results will not be materially different from those projected. Azenta expressly disclaims any obligation or undertaking to release publicly any updates or revisions to听any such statement to reflect any change in our expectations or any change in events, conditions, or听circumstance听on which any such statement is based. Azenta undertakes no obligation to update the information contained in this press release.
About Azenta Life Sciences
Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions worldwide, enabling life science organizations around the world to bring impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and multiomics services across areas such as drug development, clinical research and advanced cell therapies for the industry's top pharmaceutical, biotech, academic and healthcare institutions globally. Our global team delivers and supports these products and services through our industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, and Barkey.
Azenta is headquartered in
AZENTA INVESTOR CONTACTS:
Yvonne Perron
Vice President, Financial Planning & Analysis and Investor Relations
[email protected]听
Sherry Dinsmore
[email protected]听
AZENTA, INC. | ||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
(unaudited) | ||||||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Revenue | ||||||||||||||||
Products | $ | 39,387 | $ | 44,028 | $ | 125,169 | $ | 126,507 | ||||||||
Services | 104,555 | 100,264 | 309,701 | 295,865 | ||||||||||||
Total revenue | 143,942 | 144,292 | 434,870 | 422,372 | ||||||||||||
Cost of revenue | ||||||||||||||||
Products | 19,592 | 26,306 | 68,085 | 77,104 | ||||||||||||
Services | 56,590 | 52,508 | 164,468 | 157,383 | ||||||||||||
Total cost of revenue | 76,182 | 78,814 | 232,553 | 234,487 | ||||||||||||
Gross profit | 67,760 | 65,478 | 202,317 | 187,885 | ||||||||||||
Operating expenses | ||||||||||||||||
Research and development | 6,685 | 6,911 | 19,934 | 21,957 | ||||||||||||
Selling, general and administrative | 61,035 | 63,972 | 205,836 | 202,919 | ||||||||||||
Impairment of intangible assets | 鈥� | 鈥� | 鈥� | 4,658 | ||||||||||||
Restructuring charges | 754 | 1,701 | 4,765 | 5,915 | ||||||||||||
Total operating expenses | 68,474 | 72,584 | 230,535 | 235,449 | ||||||||||||
Operating loss | (714) | (7,106) | (28,218) | (47,564) | ||||||||||||
Other income | ||||||||||||||||
Interest income, net | 4,973 | 7,925 | 13,760 | 27,359 | ||||||||||||
Other income (expense), net | (821) | (377) | 1,539 | (127) | ||||||||||||
Income (loss) before income taxes | 3,438 | 442 | (12,919) | (20,332) | ||||||||||||
Income tax expense | 2,758 | 600 | 14,007 | 3,220 | ||||||||||||
Income (loss) from continuing operations | 680 | (158) | (26,926) | (23,552) | ||||||||||||
Loss from discontinued operations, net of tax | (53,486) | (6,424) | (79,676) | (135,634) | ||||||||||||
Net loss | $ | (52,806) | $ | (6,582) | $ | (106,602) | $ | (159,186) | ||||||||
Basic net loss per share: | ||||||||||||||||
Income (loss) from continuing operations | $ | 0.01 | $ | (0.00) | $ | (0.59) | $ | (0.43) | ||||||||
Loss from discontinued operations, net of tax | $ | (1.17) | $ | (0.12) | $ | (1.74) | $ | (2.47) | ||||||||
Basic net loss per share | $ | (1.15) | $ | (0.12) | $ | (2.33) | $ | (2.90) | ||||||||
Diluted net loss per share: | ||||||||||||||||
Income (loss) from continuing operations | $ | 0.01 | $ | (0.00) | $ | (0.59) | $ | (0.43) | ||||||||
Loss from discontinued operations, net of tax | $ | (1.17) | $ | (0.12) | $ | (1.74) | $ | (2.47) | ||||||||
Diluted net loss per share | $ | (1.15) | $ | (0.12) | $ | (2.33) | $ | (2.90) | ||||||||
Weighted average shares used in computing net loss per share: | ||||||||||||||||
Basic | 45,780 | 52,963 | 45,712 | 54,914 | ||||||||||||
Diluted | 45,823 | 52,963 | 45,712 | 54,914 | ||||||||||||
听
AZENTA, INC. | ||||||||
CONSOLIDATED BALANCE SHEETS | ||||||||
(unaudited) | ||||||||
(In thousands, except share and per share data) | ||||||||
June 30, | September 30, | |||||||
2025 | 2024 | |||||||
Assets | ||||||||
Current assets | ||||||||
Cash and cash equivalents | 270,040 | $ | 280,030 | |||||
Short-term marketable securities | 48,817 | 151,162 | ||||||
Accounts receivable, net of allowance for expected credit losses ( | 124,535 | 156,273 | ||||||
Inventories | 80,506 | 78,923 | ||||||
Short-term restricted cash | 2,312 | 2,069 | ||||||
Prepaid expenses and other current assets | 75,243 | 75,456 | ||||||
Current assets held for sale | 77,025 | 88,894 | ||||||
Total current assets | 678,478 | 832,807 | ||||||
Property, plant and equipment, net | 153,641 | 155,622 | ||||||
Long-term marketable securities | 222,168 | 49,454 | ||||||
Long-term deferred tax assets | 779 | 837 | ||||||
Operating lease right-of-use assets | 60,660 | 60,406 | ||||||
Goodwill | 703,614 | 691,409 | ||||||
Intangible assets, net | 108,136 | 125,042 | ||||||
Other assets | 6,180 | 10,670 | ||||||
Noncurrent assets held for sale | 85,479 | 173,794 | ||||||
Total assets | $ | 2,019,135 | $ | 2,100,041 | ||||
Liabilities and stockholders' equity | ||||||||
Current liabilities | ||||||||
Accounts payable | $ | 37,984 | $ | 33,344 | ||||
Deferred revenue | 38,216 | 30,493 | ||||||
Derivative liability | 34,656 | 1,915 | ||||||
Accrued warranty and retrofit costs | 5,373 | 5,213 | ||||||
Accrued compensation and benefits | 31,540 | 27,785 | ||||||
Accrued customer deposits | 27,220 | 22,324 | ||||||
Accrued income taxes payable | 8,847 | 9,266 | ||||||
Accrued expenses and other current liabilities | 29,884 | 44,449 | ||||||
Current liabilities held for sale | 31,715 | 30,050 | ||||||
Total current liabilities | 245,435 | 204,839 | ||||||
Long-term tax reserves | 425 | 398 | ||||||
Long-term deferred tax liabilities | 20,583 | 18,084 | ||||||
Long-term operating lease liabilities | 52,628 | 56,683 | ||||||
Other long-term liabilities | 9,339 | 8,874 | ||||||
Noncurrent liabilities held for sale | 17,091 | 42,196 | ||||||
Total liabilities | 345,501 | 331,074 | ||||||
Stockholders' equity | ||||||||
Preferred stock, | 鈥� | 鈥� | ||||||
Common stock, | 593 | 590 | ||||||
Additional paid-in capital | 523,395 | 505,958 | ||||||
Accumulated other comprehensive loss | (19,635) | (13,464) | ||||||
Treasury stock, at cost - 13,461,869 shares at June 30, 2025 and September 30, 2024 | (200,956) | (200,956) | ||||||
Retained earnings | 1,370,237 | 1,476,839 | ||||||
Total stockholders' equity | 1,673,634 | 1,768,967 | ||||||
Total liabilities and stockholders' equity | $ | 2,019,135 | $ | 2,100,041 | ||||
听
AZENTA, INC. | ||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
(unaudited) | ||||||||
(In thousands) | ||||||||
Nine Months Ended June 30, | ||||||||
2025 | 2024 | |||||||
Cash flows from operating activities | ||||||||
Net loss | $ | (106,602) | $ | (159,186) | ||||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||
Depreciation and amortization | 46,775 | 66,899 | ||||||
Impairment of goodwill and intangible assets | 鈥� | 115,975 | ||||||
Loss on assets held for sale | 93,025 | 鈥� | ||||||
Inventory write-downs and other asset write-offs | 2,772 | 10,745 | ||||||
Stock-based compensation | 15,887 | 12,622 | ||||||
Amortization and accretion on marketable securities | (1,318) | (4,706) | ||||||
Deferred income taxes | (20,025) | (12,478) | ||||||
Loss on disposals of property, plant and equipment | 759 | 297 | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | 38,799 | (10,923) | ||||||
Inventories | (8,976) | 14,107 | ||||||
Accounts payable | (702) | 2,831 | ||||||
Deferred revenue | 7,156 | (1,635) | ||||||
Accrued warranty and retrofit costs | 36 | (1,080) | ||||||
Accrued compensation and tax withholdings | 3,010 | (2,825) | ||||||
Accrued restructuring costs | (51) | 1,125 | ||||||
Other assets and liabilities | (534) | 383 | ||||||
Net cash provided by operating activities | 70,011 | 32,151 | ||||||
Cash flows from investing activities | ||||||||
Purchases of property, plant and equipment | (25,997) | (28,013) | ||||||
Purchases of marketable securities | (312,990) | (378,275) | ||||||
Sales and maturities of marketable securities | 242,527 | 431,544 | ||||||
Proceeds from other investment | 2,130 | 鈥� | ||||||
Net investment hedge settlement | 3,043 | 1,476 | ||||||
Net cash (used in) provided by investing activities | (91,287) | 26,732 | ||||||
Cash flows from financing activities | ||||||||
Proceeds from issuance of common stock | 1,553 | 1,678 | ||||||
Payments of finance leases | (585) | (584) | ||||||
Share repurchases | 鈥� | (412,755) | ||||||
Excise tax payment for settled share repurchases | (11,376) | 鈥� | ||||||
Net cash used in financing activities | (10,408) | (411,661) | ||||||
Effects of exchange rate changes on cash, cash equivalents and restricted cash | 4,510 | 15,596 | ||||||
Net decrease in cash, cash equivalents and restricted cash | (27,174) | (337,182) | ||||||
Cash, cash equivalents and restricted cash, beginning of period | 320,990 | 684,045 | ||||||
Cash, cash equivalents and restricted cash, end of period | $ | 293,816 | $ | 346,863 | ||||
Supplemental disclosures: | ||||||||
Cash paid for income taxes, net | 2,243 | 6,710 | ||||||
Purchases of property, plant and equipment included in accounts payable and accrued expenses | 4,652 | 2,575 | ||||||
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets | ||||||||
听
June 30, | September 30, | |||||||
2025 | 2024 | |||||||
Cash and cash equivalents of continuing operations | $ | 270,040 | $ | 280,030 | ||||
Cash included in current assets held for sale | 15,000 | 30,899 | ||||||
Short-term restricted cash | 2,312 | 2,069 | ||||||
Long-term restricted cash included in other assets | 6,464 | 7,992 | ||||||
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows | $ | 293,816 | $ | 320,990 | ||||
Notes on Non-GAAP Financial Measures - Continuing Operations
Non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. Management adjusts the GAAP results for the impact of amortization of intangible assets, restructuring charges, purchase price accounting adjustments and charges related to M&A, non-recurring costs related to the Company's business transformation initiatives and share repurchases to provide investors better perspective on the results of operations which the Company believes is more comparable to the similar analysis provided by its peers. Management also excludes special charges and gains, such as impairment losses, gains and losses from the sale of assets, certain tax benefits and charges, as well as other gains and charges that are not representative of the normal operations of the business. Management strongly encourages investors to review our financial statements and publicly filed reports in their entirety and not rely on any single measure.
Quarter Ended | ||||||||||||||||||||||||
June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||||||||||||||||
per diluted | per diluted | per diluted | ||||||||||||||||||||||
Amounts in thousands, except per share data | $ | share | $ | share | $ | share | ||||||||||||||||||
Net income / loss from continuing operations | $ | 680 | $ | 0.01 | $ | (18,185) | $ | (0.40) | $ | (158) | $ | (0.00) | ||||||||||||
Adjustments: | ||||||||||||||||||||||||
Amortization of completed technology | 2,068 | 0.05 | 2,308 | 0.05 | 2,047 | 0.04 | ||||||||||||||||||
Amortization of other intangible assets | 4,123 | 0.09 | 3,803 | 0.08 | 5,132 | 0.10 | ||||||||||||||||||
Transformation costs(1) | 1,542 | 0.03 | 5,183 | 0.11 | 1,174 | 0.02 | ||||||||||||||||||
Restructuring charges | 754 | 0.02 | 3,580 | 0.08 | 1,701 | 0.03 | ||||||||||||||||||
Merger and acquisition costs and costs related to share repurchase(2) | 58 | 0.00 | 688 | 0.02 | 74 | 0.00 | ||||||||||||||||||
Investment income(3) | 鈥� | 鈥� | (2,130) | (0.05) | 鈥� | 鈥� | ||||||||||||||||||
Tax adjustments(4) | 鈥� | 鈥� | 6,900 | 0.15 | 41 | 0.00 | ||||||||||||||||||
Tax effect of adjustments | (742) | (0.02) | (40) | (0.00) | (2,510) | (0.05) | ||||||||||||||||||
Other adjustments | 38 | 0.00 | 鈥� | 鈥� | 鈥� | 鈥� | ||||||||||||||||||
Non-GAAP adjusted net income from continuing operations | $ | 8,521 | $ | 0.19 | $ | 2,107 | $ | 0.05 | $ | 7,501 | $ | 0.14 | ||||||||||||
Stock-based compensation, pre-tax | 2,215 | 0.05 | 8,031 | 0.18 | 3,691 | 0.07 | ||||||||||||||||||
Tax rate | 17 | % | 鈥� | 17 | % | 鈥� | 15 | % | 鈥� | |||||||||||||||
Stock-based compensation, net of tax | 1,845 | 0.04 | 6,690 | 0.15 | 3,137 | 0.06 | ||||||||||||||||||
Non-GAAP adjusted net income excluding stock-based compensation - continuing operations | $ | 10,366 | $ | 0.23 | $ | 8,797 | $ | 0.19 | $ | 10,638 | $ | 0.20 | ||||||||||||
Shares used in computing non-GAAP diluted net income per share | 鈥� | 45,823 | 鈥� | 45,732 | 鈥� | 52,963 | ||||||||||||||||||
听
Nine Months Ended | ||||||||||||||||
June 30, 2025 | June 30, 2024 | |||||||||||||||
per diluted | per diluted | |||||||||||||||
Amounts in thousands, except per share data | $ | share | $ | share | ||||||||||||
Net income / loss from continuing operations | $ | (26,926) | $ | (0.59) | $ | (23,552) | $ | (0.43) | ||||||||
Adjustments: | ||||||||||||||||
Amortization of completed technology | 5,876 | 0.13 | 5,970 | 0.11 | ||||||||||||
Amortization of other intangible assets | 12,499 | 0.27 | 15,655 | 0.29 | ||||||||||||
Transformation costs(1) | 9,771 | 0.21 | 5,310 | 0.10 | ||||||||||||
Restructuring charges | 4,765 | 0.10 | 5,915 | 0.11 | ||||||||||||
Impairment of intangible assets | 鈥� | 鈥� | 4,658 | 0.08 | ||||||||||||
Merger and acquisition costs and costs related to share repurchase(2) | 2,316 | 0.05 | 4,821 | 0.09 | ||||||||||||
Investment income(3) | (2,130) | (0.05) | 鈥� | 鈥� | ||||||||||||
Tax adjustments(4) | 7,308 | 0.16 | 3,379 | 0.06 | ||||||||||||
Tax effect of adjustments | 748 | 0.02 | (6,798) | (0.12) | ||||||||||||
Non-GAAP adjusted net income from continuing operations | $ | 14,227 | $ | 0.31 | $ | 15,358 | $ | 0.28 | ||||||||
Stock-based compensation, pre-tax | 15,119 | 0.33 | 12,102 | 0.22 | ||||||||||||
Tax rate | 17 | % | 鈥� | 15 | % | 鈥� | ||||||||||
Stock-based compensation, net of tax | 12,549 | 0.27 | 10,287 | 0.19 | ||||||||||||
Non-GAAP adjusted net income excluding stock-based compensation - continuing operations | $ | 26,776 | $ | 0.59 | $ | 25,645 | $ | 0.47 | ||||||||
Shares used in computing non-GAAP diluted net income per share | 鈥� | 45,712 | 鈥� | 54,914 | ||||||||||||
(1) | Transformation costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to the Company focused on cost reduction and productivity improvement that do not meet the definition of restructuring charges. These costs are directed at simplifying, standardizing, streamlining, and optimizing the Company's operations, processes and systems to permanently alter the Company's operations for the long term. For a project to be considered transformational, successful completion of the project must be expected to bring long-term material benefits to the organization and involve significant changes to process and/or underlying technology. Transformation costs in the period result from actions taken as part of the Company's 2024 transformation plan and primarily relate to one time asset write downs associated with changes in technology, one time inventory write downs relating to restructuring actions taken in the period, and third-party consulting costs associated with process and听systems re-design. |
(2) | Includes expenses related to governance-related matters. |
(3) | The Company received |
(4) | Tax adjustments during all periods include adjustments to tax benefits related to stock compensation. These adjustments are recognized in the period of vesting for US GAAP but included in the annual effective tax rate for Non-GAAP reporting.听Tax adjustments for the three and six months ended March 31, 2025 include听 |
听
Quarter Ended | Nine Months Ended | |||||||||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | ||||||||||||||||
Dollars in thousands | 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||
GAAP net loss | $ | (52,806) | $ | (40,456) | $ | (6,582) | $ | (106,602) | $ | (159,186) | ||||||||||
Less: Loss from discontinued operations | (53,486) | (22,271) | (6,424) | (79,676) | (135,634) | |||||||||||||||
GAAP net income / loss from continuing operations | 680 | (18,185) | (158) | (26,926) | (23,552) | |||||||||||||||
Adjustments: | ||||||||||||||||||||
Interest income, net | (4,973) | (4,489) | (7,925) | (13,760) | (27,359) | |||||||||||||||
Income tax expense | 2,758 | 7,680 | 600 | 14,007 | 3,220 | |||||||||||||||
Depreciation | 8,399 | 7,818 | 7,600 | 23,695 | 22,415 | |||||||||||||||
Amortization of completed technology | 2,068 | 2,308 | 2,047 | 5,876 | 5,970 | |||||||||||||||
Amortization of other intangible assets | 4,123 | 3,803 | 5,132 | 12,499 | 15,655 | |||||||||||||||
Earnings before interest, taxes, depreciation and amortization - Continuing operations | $ | 13,055 | $ | (1,065) | $ | 7,296 | $ | 15,391 | $ | (3,651) | ||||||||||
听
Quarter Ended | Nine Months Ended | |||||||||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | ||||||||||||||||
Dollars in thousands | 2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||
Earnings before interest, taxes, depreciation and amortization - Continuing operations | $ | 13,055 | $ | (1,065) | $ | 7,296 | $ | 15,391 | $ | (3,651) | ||||||||||
Adjustments: | ||||||||||||||||||||
Stock-based compensation | 2,215 | 8,031 | 3,691 | 15,119 | 12,102 | |||||||||||||||
Restructuring charges | 754 | 3,580 | 1,701 | 4,765 | 5,915 | |||||||||||||||
Impairment of intangible assets | 鈥� | 鈥� | 鈥� | 鈥� | 4,658 | |||||||||||||||
Merger and acquisition costs and costs related to share repurchase(1) | 58 | 688 | 74 | 2,316 | 4,821 | |||||||||||||||
Transformation costs(2) | 1,542 | 5,183 | 1,174 | 9,771 | 5,310 | |||||||||||||||
Investment income(3) | 鈥� | (2,130) | 鈥� | (2,130) | 鈥� | |||||||||||||||
Other adjustments | 38 | 鈥� | 鈥� | 38 | 鈥� | |||||||||||||||
Adjusted earnings before interest, taxes, depreciation and amortization - Continuing operations | $ | 17,662 | $ | 14,287 | $ | 13,936 | $ | 45,270 | $ | 29,155 | ||||||||||
(1) | Includes expenses related to governance-related matters. |
(2) | Transformation costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to the Company focused on cost reduction and productivity improvement that do not meet the definition of restructuring charges. These costs are directed at simplifying, standardizing, streamlining, and optimizing the Company's operations, processes and systems to permanently alter the Company's operations for the long term. For a project to be considered transformational, successful completion of the project must be expected to bring long-term material benefits to the organization and involve significant changes to process and/or underlying technology. Transformation costs in the period result from actions taken as part of the Company's 2024 transformation plan and primarily relate to one time asset write downs associated with changes in technology, one time inventory write downs relating to restructuring actions taken in the period, and third-party consulting costs associated with process and systems re-design. |
(3) | The Company received |
听
Quarter Ended | ||||||||||||||||||||||||
Dollars in thousands | June 30, 2025 | March 31, 2025 | June 30, 2024 | |||||||||||||||||||||
GAAP gross profit | $ | 67,760 | 47.1 | % | $ | 65,886 | 45.9 | % | $ | 65,478 | 45.4 | % | ||||||||||||
Adjustments: | ||||||||||||||||||||||||
Amortization of completed technology | 2,068 | 1.4 | % | 2,308 | 1.6 | % | 2,047 | 1.4 | % | |||||||||||||||
Transformation costs(1) | 鈥� | 鈥� | % | 鈥� | 鈥� | % | (127) | (0.1) | % | |||||||||||||||
Other adjustments | 25 | 0.0 | % | (9) | (0.0) | % | 鈥� | 鈥� | % | |||||||||||||||
Non-GAAP adjusted gross profit | $ | 69,853 | 48.5 | % | $ | 68,185 | 47.5 | % | $ | 67,399 | 46.7 | % | ||||||||||||
听
Nine Months Ended | ||||||||||||||||
Dollars in thousands | June 30, 2025 | June 30, 2024 | ||||||||||||||
GAAP gross profit | $ | 202,317 | 46.5 | % | $ | 187,885 | 44.5 | % | ||||||||
Adjustments: | ||||||||||||||||
Amortization of completed technology | 5,876 | 1.4 | % | 5,970 | 1.4 | % | ||||||||||
Transformation costs(1) | 52 | 0.0 | % | 232 | 0.1 | % | ||||||||||
Other adjustments | 25 | 0.0 | % | 鈥� | 鈥� | % | ||||||||||
Non-GAAP adjusted gross profit | $ | 208,270 | 47.9 | % | $ | 194,087 | 46.0 | % | ||||||||
(1) | Transformation costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to the Company focused on cost reduction and productivity improvement that do not meet the definition of restructuring charges. These costs are directed at simplifying, standardizing, streamlining, and optimizing the Company's operations, processes and systems to permanently alter the Company's operations for the long term. For a project to be considered transformational, successful completion of the project must be expected to bring long-term material benefits to the organization and involve significant changes to process and/or underlying technology. Transformation costs in the period result from actions taken as part of the Company's 2024 transformation plan and primarily relate to one time asset write downs associated with changes in technology, one time inventory write downs relating to restructuring actions taken in the period, and third-party consulting costs associated with process and systems re-design. |
听
Sample Management Solutions | Multiomics | |||||||||||||||||||||||||||||||||||||||||||||||
Quarter Ended | Quarter Ended | |||||||||||||||||||||||||||||||||||||||||||||||
June 30, | March 31, | June 30, | June 30, | March 31, | June 30, | |||||||||||||||||||||||||||||||||||||||||||
Dollars in thousands | 2025 | 2025 | 2024 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||||
GAAP gross profit | $ | 40,437 | 52.0 | % | $ | 38,251 | 47.9 | % | $ | 36,279 | 45.0 | % | $ | 27,323 | 41.3 | % | $ | 27,635 | 43.5 | % | $ | 29,199 | 45.9 | % | ||||||||||||||||||||||||
Adjustments: | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of completed technology | 1,208 | 1.6 | % | 1,449 | 1.8 | % | 1,010 | 1.3 | % | 860 | 1.3 | % | 859 | 1.4 | % | 1,038 | 1.6 | % | ||||||||||||||||||||||||||||||
Transformation costs(1) | 鈥� | 鈥� | % | 鈥� | 鈥� | % | (127) | (0.2) | % | 鈥� | 鈥� | % | 鈥� | 鈥� | % | 鈥� | 鈥� | % | ||||||||||||||||||||||||||||||
Other adjustments | 25 | 0.0 | % | (9) | (0.0) | % | 鈥� | 鈥� | % | 鈥� | 鈥� | % | 鈥� | 鈥� | % | 鈥� | 鈥� | % | ||||||||||||||||||||||||||||||
Non-GAAP adjusted gross profit | $ | 41,670 | 53.6 | % | $ | 39,691 | 49.7 | % | $ | 37,162 | 46.1 | % | $ | 28,183 | 42.6 | % | $ | 28,494 | 44.9 | % | $ | 30,237 | 47.5 | % | ||||||||||||||||||||||||
听
Segment Total | ||||||||||||||||||||||||
Quarter Ended | ||||||||||||||||||||||||
June 30, | March 31, | June 30, | ||||||||||||||||||||||
Dollars in thousands | 2025 | 2025 | 2024 | |||||||||||||||||||||
GAAP gross profit | $ | 67,760 | 47.1 | % | $ | 65,886 | 45.9 | % | $ | 65,478 | 45.4 | % | ||||||||||||
Adjustments: | ||||||||||||||||||||||||
Amortization of completed technology | 2,068 | 1.4 | % | 2,308 | 1.6 | % | 2,048 | 1.4 | % | |||||||||||||||
Transformation costs(1) | 鈥� | 鈥� | % | 鈥� | 鈥� | % | (127) | (0.1) | % | |||||||||||||||
Other adjustment | 25 | 0.0 | % | (9) | (0.0) | % | 鈥� | 鈥� | % | |||||||||||||||
Non-GAAP adjusted gross profit | $ | 69,853 | 48.5 | % | $ | 68,185 | 47.5 | % | $ | 67,399 | 46.7 | % | ||||||||||||
听
Sample Management Solutions | Multiomics | |||||||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||
Dollars in thousands | June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 | ||||||||||||||||||||||||||||
GAAP gross profit | $ | 116,802 | 48.9 | % | $ | 102,494 | 43.8 | % | $ | 85,515 | 43.6 | % | $ | 85,391 | 45.3 | % | ||||||||||||||||
Adjustments: | ||||||||||||||||||||||||||||||||
Amortization of completed technology | 3,296 | 1.4 | % | 2,852 | 1.5 | % | 2,580 | 1.3 | % | 3,118 | 1.7 | % | ||||||||||||||||||||
Transformation costs(1) | 52 | 0.0 | % | 232 | 0.1 | % | 鈥� | 鈥� | % | 鈥� | 鈥� | % | ||||||||||||||||||||
Other adjustments | 25 | 0.0 | % | 鈥� | 鈥� | % | 鈥� | 鈥� | % | 鈥� | 鈥� | % | ||||||||||||||||||||
Non-GAAP adjusted gross profit | $ | 120,175 | 50.3 | % | $ | 105,578 | 45.2 | % | $ | 88,095 | 44.9 | % | $ | 88,509 | 46.9 | % | ||||||||||||||||
听
Segment Total | ||||||||||||||||
Nine Months Ended | ||||||||||||||||
Dollars in thousands | June 30, 2025 | June 30, 2024 | ||||||||||||||
GAAP gross profit | $ | 202,317 | 46.5 | % | $ | 187,885 | 44.5 | % | ||||||||
Adjustments: | ||||||||||||||||
Amortization of completed technology | 5,876 | 1.4 | % | 5,970 | 1.4 | % | ||||||||||
Transformation costs(1) | 52 | 0.0 | % | 232 | 0.1 | % | ||||||||||
Other adjustments | 25 | 0.0 | % | 鈥� | 鈥� | % | ||||||||||
Non-GAAP adjusted gross profit | $ | 208,270 | 47.9 | % | $ | 194,087 | 46.0 | % | ||||||||
(1) | Transformation costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to the Company focused on cost reduction and productivity improvement that do not meet the definition of restructuring charges. These costs are directed at simplifying, standardizing, streamlining, and optimizing the Company's operations, processes and systems to permanently alter the Company's operations for the long term. For a project to be considered transformational, successful completion of the project must be expected to bring long-term material benefits to the organization and involve significant changes to process and/or underlying technology. Transformation costs in the period result from actions taken as part of the Company's 2024 transformation plan and primarily relate to one time asset write downs associated with changes in technology, one time inventory write downs relating to restructuring actions taken in the period, and third-party consulting costs associated with process and systems re-design. |
听
Sample Management Solutions | Multiomics | |||||||||||||||||||||||
Quarter Ended | Quarter Ended | |||||||||||||||||||||||
June 30, | March 31, | June 30, | June 30, | March 31, | June 30, | |||||||||||||||||||
Dollars in thousands | 2025 | 2025 | 2024 | 2025 | 2025 | 2024 | ||||||||||||||||||
GAAP operating income (loss) | $ | 9,834 | $ | 567 | $ | 2,647 | $ | (4,191) | $ | (6,132) | $ | (1,630) | ||||||||||||
Adjustments: | ||||||||||||||||||||||||
Amortization of completed technology | 1,208 | 1,449 | 1,010 | 860 | 859 | 1,038 | ||||||||||||||||||
Transformation costs(1) | 168 | 2,606 | (127) | 鈥� | 鈥� | 鈥� | ||||||||||||||||||
Restructuring charges | 鈥� | 鈥� | 鈥� | 鈥� | (23) | 鈥� | ||||||||||||||||||
Other adjustments | 38 | (9) | 52 | 鈥� | 鈥� | 鈥� | ||||||||||||||||||
Non-GAAP adjusted operating income (loss) | $ | 11,248 | $ | 4,613 | $ | 3,582 | $ | (3,331) | $ | (5,296) | $ | (592) | ||||||||||||
听
Total Segments | Corporate | Total | ||||||||||||||||||||||||||||||||||
Quarter Ended | Quarter Ended | Quarter Ended | ||||||||||||||||||||||||||||||||||
June 30, | March 31, | June 30, | June 30, | March 31, | June 30, | June 30, | March 31, | June 30, | ||||||||||||||||||||||||||||
Dollars in thousands | 2025 | 2025 | 2024 | 2025 | 2025 | 2024 | 2025 | 2025 | 2024 | |||||||||||||||||||||||||||
GAAP operating income (loss) | $ | 5,643 | $ | (5,565) | $ | 1,017 | $ | (6,357) | $ | (10,586) | $ | (8,123) | $ | (714) | $ | (16,151) | $ | (7,106) | ||||||||||||||||||
Adjustments: | ||||||||||||||||||||||||||||||||||||
Amortization of completed technology | 2,068 | 2,308 | 2,048 | 鈥� | 鈥� | (1) | 2,068 | 2,308 | 2,047 | |||||||||||||||||||||||||||
Amortization of other intangible assets | 鈥� | 鈥� | 鈥� | 4,123 | 3,803 | 5,132 | 4,123 | 3,803 | 5,132 | |||||||||||||||||||||||||||
Transformation costs(1) | 168 | 2,606 | (127) | 1,374 | 2,577 | 1,301 | 1,542 | 5,183 | 1,174 | |||||||||||||||||||||||||||
Restructuring charges | 鈥� | (23) | 鈥� | 754 | 3,603 | 1,701 | 754 | 3,580 | 1,701 | |||||||||||||||||||||||||||
Impairment of intangible assets | 鈥� | 鈥� | 鈥� | 鈥� | 鈥� | 鈥� | 鈥� | 鈥� | 鈥� | |||||||||||||||||||||||||||
Merger and acquisition costs and costs related to share repurchase(2) | 鈥� | 鈥� | 鈥� | 58 | 688 | 74 | 58 | 688 | 74 | |||||||||||||||||||||||||||
Other adjustments | 38 | (9) | 52 | 2 | 鈥� | (53) | 40 | (9) | (1) | |||||||||||||||||||||||||||
Non-GAAP adjusted operating income (loss) | $ | 7,917 | $ | (683) | $ | 2,990 | $ | (46) | $ | 85 | $ | 31 | $ | 7,871 | $ | (598) | $ | 3,021 | ||||||||||||||||||
听
Sample Management Solutions | Multiomics | |||||||||||||||
Nine Months Ended | Nine Months Ended | |||||||||||||||
Dollars in thousands | June 30, | June 30, | June 30, | June 30, | ||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
GAAP operating income (loss) | $ | 11,963 | $ | (1,733) | $ | (13,710) | $ | (9,853) | ||||||||
Adjustments: | ||||||||||||||||
Amortization of completed technology | 3,296 | 2,852 | 2,580 | 3,118 | ||||||||||||
Amortization of other intangible assets | 鈥� | 103 | 鈥� | 鈥� | ||||||||||||
Transformation costs(1) | 2,877 | 232 | 鈥� | 鈥� | ||||||||||||
Other adjustments | 41 | 55 | 3 | (1) | ||||||||||||
Non-GAAP adjusted operating income (loss) | $ | 18,177 | $ | 1,509 | $ | (11,127) | $ | (6,736) | ||||||||
听
Total Segments | Corporate | Total | ||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||
Dollars in thousands | June 30, | June 30, | June 30, | June 30, | June 30, | June 30, | ||||||||||||||||||
2025 | 2024 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||
GAAP operating loss | $ | (1,747) | $ | (11,586) | $ | (26,471) | $ | (35,978) | $ | (28,218) | $ | (47,564) | ||||||||||||
Adjustments: | ||||||||||||||||||||||||
Amortization of completed technology | 5,876 | 5,970 | 鈥� | 鈥� | 5,876 | 5,970 | ||||||||||||||||||
Amortization of other intangible assets | 鈥� | 103 | 12,499 | 15,552 | 12,499 | 15,655 | ||||||||||||||||||
Transformation costs(1) | 2,877 | 232 | 6,894 | 5,078 | 9,771 | 5,310 | ||||||||||||||||||
Restructuring charges | 鈥� | 鈥� | 4,765 | 5,915 | 4,765 | 5,915 | ||||||||||||||||||
Impairment of intangible assets | 鈥� | 鈥� | 鈥� | 4,658 | 鈥� | 4,658 | ||||||||||||||||||
Merger and acquisition costs and costs related to share repurchase(2) | 鈥� | 鈥� | 2,316 | 4,821 | 2,316 | 4,821 | ||||||||||||||||||
Other adjustments | 44 | 54 | (3) | (56) | 41 | (2) | ||||||||||||||||||
Non-GAAP adjusted operating income (loss) | $ | 7,050 | $ | (5,227) | $ | 鈥� | $ | (10) | $ | 7,050 | $ | (5,237) | ||||||||||||
(1) | Transformation costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to the Company focused on cost reduction and productivity improvement that do not meet the definition of restructuring charges. These costs are directed at simplifying, standardizing, streamlining, and optimizing the Company's operations, processes and systems to permanently alter the Company's operations for the long term. For a project to be considered transformational, successful completion of the project must be expected to bring long-term material benefits to the organization and involve significant changes to process and/or underlying technology. Transformation costs in the period result from actions taken as part of the Company's 2024 transformation plan and primarily relate to one time asset write downs associated with changes in technology, one time inventory write downs relating to restructuring actions taken in the period, and third-party consulting costs associated with process and systems re-design. |
(2) | Includes expenses related to governance-related matters. |
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Sample Management Solutions | Multiomics | Azenta Total | ||||||||||||||||||||||||||||||||||
Quarter Ended | Quarter Ended | Quarter Ended | ||||||||||||||||||||||||||||||||||
June 30, | June 30, | June 30, | June 30, | June 30, | June 30, | |||||||||||||||||||||||||||||||
Dollars in millions | 2025 | 2024 | Change | 2025 | 2024 | Change | 2025 | 2024 | Change | |||||||||||||||||||||||||||
Revenue | $ | 78 | $ | 81 | (4) | % | $ | 66 | $ | 64 | 4 | % | $ | 144 | $ | 144 | (0) | % | ||||||||||||||||||
Currency exchange rates | (2) | 鈥� | (2) | % | (1) | 鈥� | (1) | % | (2) | 鈥� | (2) | % | ||||||||||||||||||||||||
Organic revenue | $ | 76 | $ | 81 | (6) | % | $ | 65 | $ | 64 | 3 | % | $ | 142 | $ | 144 | (2) | % | ||||||||||||||||||
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Sample Management Solutions | Multiomics | Azenta Total | ||||||||||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
June 30, | June 30, | June 30, | June 30, | June 30, | June 30, | |||||||||||||||||||||||||||||||
Dollars in millions | 2025 | 2024 | Change | 2025 | 2024 | Change | 2025 | 2024 | Change | |||||||||||||||||||||||||||
Revenue | $ | 239 | $ | 234 | 2 | % | $ | 196 | $ | 189 | 4 | % | $ | 435 | $ | 422 | 3 | % | ||||||||||||||||||
Currency exchange rates | (1) | 鈥� | (1) | % | (0) | 鈥� | (0) | % | (2) | 鈥� | (0) | % | ||||||||||||||||||||||||
Organic revenue | $ | 237 | $ | 234 | 2 | % | $ | 196 | $ | 189 | 4 | % | $ | 433 | $ | 422 | 3 | % | ||||||||||||||||||
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