In This Article:
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Revenue: $656 million for fiscal year 2024, down 2% year over year on an organic basis.
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Fourth Quarter Revenue: $170 million, down 1% year over year on a reported basis and down 2% on an organic basis.
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Adjusted EBITDA Margin: 10.2% in the fourth quarter and 7.5% for the full year, representing a margin expansion of approximately 300 basis points for the year.
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Non-GAAP EPS: $0.18 for the fourth quarter and $0.41 for the full year.
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SMS Revenue: $85 million for the fourth quarter, up 4% year over year reported and up 3% organic.
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Multiomics Revenue: $66 million for the fourth quarter, 8% growth on both a reported and organic basis.
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B Medical Revenue: $19 million in the fourth quarter, down 35% year over year.
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Cash and Equivalents: $522 million at the end of the quarter, with no outstanding debt.
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Capital Expenditures: Approximately $13 million for the fourth quarter and $38 million for the full year.
Release Date: November 12, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Azenta Inc (NASDAQ:AZTA) delivered strong results in the quarter and year, with full-year revenue of $656 million, in line with guidance.
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The Sample Management Solutions and Multiomics segments grew core revenue by 4% for the year, excluding B Medical.
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The company announced the sale of B Medical, allowing a refocus on high-quality core businesses with opportunities for growth and margin expansion.
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Azenta Inc (NASDAQ:AZTA) achieved an adjusted EBITDA margin of 10.2% in Q4, representing a significant margin expansion of over 550 basis points year-over-year.
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The company returned $249 million to shareholders through its share repurchase program, completing a $1.5 billion buyback over two years.
Negative Points
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Revenue was down 2% year-over-year on an organic basis, indicating challenges in the current market environment.
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B Medical revenue declined by 35% year-over-year, impacting overall financial performance.
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The company faces ongoing pricing pressure in the Multiomics segment, particularly in next-generation sequencing.
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Azenta Inc (NASDAQ:AZTA) has identified complexity within its operations, stemming from 15 legacy acquisitions, which it aims to address through simplification initiatives.
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The guidance for fiscal 2025 indicates only 3% to 5% organic revenue growth, reflecting macroeconomic uncertainties and market challenges.
Q & A Highlights
Q: Can you provide insights on the fiscal '26 targets and the lower fiscal '25 guidance relative to those targets? A: Herman Cueto, CFO, explained that the company has made significant progress against the long-range plan (LRP) announced at the 2024 Investor Day, achieving above-market growth and margin expansion in fiscal '24. The fiscal '25 guidance of 3% to 5% growth assumes the current market environment, with potential upside if the market recovers in the second half of 2025. John Marotta, CEO, added that demonstrating capability on the top line is crucial given the market uncertainty.