Overview
Azenta Q3 revenue flat yr/yr at $144 mln, missing analysts' expectations
Non-GAAP diluted EPS from continuing ops rises to $0.19
Adjusted EBITDA increases to $18 mln, margin rises 260 basis points to 12.3%
Outlook
Azenta reiterates fiscal 2025 organic revenue growth of 3% to 5%
Company expects adjusted EBITDA margin to expand by 300 bps in fiscal 2025
Result Drivers
MULTIOMICS GROWTH - Revenue increased 4% driven by Next Generation Sequencing, partially offset by declines in Sanger Sequencing and Gene Synthesis
SAMPLE MANAGEMENT DECLINE - Revenue decreased 4% due to lower sales in Automated Stores and Cryogenic Systems, despite gains in Sample Storage and Clinical Biostores
MARGIN EXPANSION - Gross margin improved by 170 basis points due to favorable sales mix and cost execution
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $144 mln | $149.40 mln (8 Analysts) |
Q3 Adjusted EBITDA | $18 mln | ||
Q3 Gross Margin | 47.1% | ||
Q3 Adjusted EBITDA Margin | 12.3% | ||
Q3 Operating Income | -$700,000 |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Azenta Inc is $32.50, about 0.3% above its August 4 closing price of $32.41
The stock recently traded at 49 times the next 12-month earnings vs. a P/E of 39 three months ago
Press Release: ID:nPn2g4HjLa
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)