Azenta, Inc. has recently released its 10-Q report, providing insights into the company's financial performance and operations. Azenta, Inc. operates in the biological and chemical compound sample exploration and management solutions sector, offering products and services in the United States, Africa, China, the United Kingdom, and other global markets. The company operates through three reportable segments: Sample Management Solutions, Multiomics, and B Medical Systems.
In the recently released 10-Q report, Azenta, Inc. announced its plan to sell its B Medical Systems business, a manufacturer and global distributor of medical refrigeration devices based in Luxembourg. This strategic decision is aimed at streamlining the company's portfolio and focusing on driving revenue growth and profitability in its core Sample Management Solutions and Multiomics segments. The B Medical Systems segment has been classified as held-for-sale and a discontinued operation.
The company's financial performance for the three months ended December 31, 2024, showed a 4% increase in revenue compared to the corresponding period in the prior fiscal year. The revenue growth was primarily driven by the Multiomics and Sample Management Solutions segments. The Multiomics segment saw a 6% increase in revenue, while the Sample Management Solutions segment experienced a 3% increase in revenue.
Azenta, Inc.'s operating income (loss) for the same period reflected an operating loss of $11.4 million, an improvement from the operating loss of $16.2 million in the corresponding period in the prior fiscal year. The company's gross margin was 47% for the three months ended December 31, 2024, compared to 44% for the corresponding period in the prior fiscal year.
The company's revenue generated outside the United States accounted for 37% of total revenue for the three months ended December 31, 2024, compared to 36% of total revenue for the corresponding period in the prior fiscal year.
Azenta, Inc.'s financial report also highlighted non-GAAP financial measures used in addition to GAAP results, providing investors with a better perspective on the company's results of operations. The report emphasized the importance of reviewing the company's financial statements and publicly filed reports in their entirety and not relying on any single measure.
Following these announcements, the company's shares moved -4.1%, and are now trading at a price of $45.55. If you want to know more, read the company's complete 10-Q report here.
