Azenta's stock experienced a sharp pre-market decline of 11.62% on Wednesday.

The plunge follows the company's release of its fiscal second-quarter results, which fell short of analyst expectations. Azenta reported earnings of $0.08 per share, missing estimates, and sales of $145 million. The company's net loss widened significantly to $160.8 million, partly due to a substantial non-cash goodwill impairment charge. Management also revised its full-year revenue guidance downward, citing execution gaps and a more cautious demand environment.