Azenta Announces Executive Transition

Azenta, Inc. announced that David Wang, President of Sample Management Solutions, will depart from his position with the company effective April 9. He will continue to support the company in a consulting capacity through December 9.

As part of his departure terms, Wang will be eligible to receive a pro-rated annual performance bonus for the fiscal year and will retain equity benefits. These include the full vesting of restricted stock units awarded in August 2024 and continued vesting of other outstanding equity awards throughout the consulting period.

Azenta, Inc. reported its financial results for the first quarter of fiscal 2025, ended December 31, 2024. The company saw a 4% year-over-year increase in revenue from continuing operations, reaching $148 million. Organic revenue growth was also 4%, driven by higher revenues in Multiomics and Sample Management Solutions.

The Sample Management Solutions segment generated $81 million in revenue, reflecting a 3% year-over-year growth, while Multiomics revenue was $66 million, up 6% from the previous year.

Despite the positive revenue growth, Azenta reported a diluted EPS of ($0.29) for the quarter, slightly worse than the previous year’s ($0.28). The company also experienced an operating loss of $11 million, although its operating margin improved by 380 basis points to -7.7% year-over-year.

On a non-GAAP basis, Azenta posted a diluted EPS of $0.08, consistent with the prior year. Adjusted EBITDA was $13 million, with an adjusted EBITDA margin of 9.0%, an improvement of 400 basis points compared to the same period last year.

The company ended the quarter with $530 million in cash and marketable securities and generated operating cash flow of $30 million. It also reported $22 million in free cash flow for the quarter.

For the full fiscal year 2025, Azenta expects organic revenue growth of 3% to 5% and adjusted EBITDA margin expansion of approximately 300 basis points compared to fiscal 2024.