Azenta, Inc. (NASDAQ: AZTA) has reported its financial results for the first quarter ended December 31, 2024. The company's total revenue from continuing operations was $148 million, showing a 4% increase year over year. Organic growth, excluding a nominal impact from foreign exchange, also increased by 4% year over year. Revenue from sample management solutions was $81 million, up 3% year over year, with organic revenue growing by 2%. The revenue from multiomics was $66 million, up 6% year over year, with organic revenue also growing by 6%.
The company's diluted EPS from continuing operations was ($0.21), compared to ($0.13) in the first quarter of fiscal year 2024. Non-GAAP diluted EPS from continuing operations was $0.08, down 64% from the previous quarter and down 1% year over year. Adjusted EBITDA from continuing operations was $13 million, showing a decrease of 25% from the previous quarter but an 89% increase year over year. The adjusted EBITDA margin from continuing operations was 9.0%, representing an 8% decrease from the previous quarter but a 4% increase year over year.
Azenta's management remains positive about the results, with John Marotta, President and CEO, stating, "Our first quarter results represent a strong start to fiscal 2025 as we see positive momentum in the demand for our unique offering of sample management solutions and multiomics services."
The company ended the quarter with a total balance of cash, cash equivalents, restricted cash, and marketable securities of $530 million, including $27 million of cash held in discontinued operations. Operating cash flow was $30 million in the quarter, with free cash flow at $22 million.
Looking ahead, the company is reiterating its revenue guidance for fiscal year 2025, expecting total organic revenue to grow in the range of 3% to 5% relative to fiscal 2024. Adjusted EBITDA margin expansion is expected to be approximately 300 basis points relative to fiscal 2024.
Azenta's management will host a webcast of its first quarter fiscal 2025 earnings conference call today at 8:30 a.m. Eastern Time. The call will be available for on-demand replay on the company's investor relations section of the website.
Azenta supplements its GAAP financial measures with certain non-GAAP financial measures to provide investors with a better perspective on the results of business operations, but these measures should always be considered in conjunction with appropriate GAAP measures. The company does not provide forward-looking guidance on a GAAP basis for the measures on which it provides forward-looking non-GAAP guidance. Today the company's shares have moved -1.9% to a price of $50.99. If you want to know more, read the company's complete 8-K report here.
