FY'25 reported revenue growth of 4% and 3% on an organic basis
FY'25 Adjusted EBITDA margin expansion of 310 basis points versus last year
FY'26 organic revenue growth expected to be 3% to 5% year over year, with Adjusted EBITDA margin expansion of approximately 300 basis points
BURLINGTON, Mass., Nov. 21, 2025 /PRNewswire/ -- Azenta, Inc. (NASDAQ:AZTA) today reported financial results for the fourth quarter and fiscal year ended September 30, 2025.
Quarter Ended
Year Ended
Dollars in millions, except per share data
September 30,
September 30,
September 30,
September 30,
2025
2024(1)
Change
2025
2024(1)
Change
Revenue from Continuing Operations
$
159
$
151
6 %
$
594
$
573
4 %
Organic growth
4 %
3 %
Sample Management Solutions
$
86
$
85
2 %
$
325
$
319
2 %
Multiomics
$
73
$
66
11 %
$
269
$
255
6 %
Diluted EPS Continuing Operations
$
1.11
$
(0.04)
NM
$
0.52
$
(0.46)
NM
Diluted EPS Total
$
1.02
$
(0.14)
NM
$
(1.30)
$
(3.10)
58 %
Non-GAAP Diluted EPS Continuing Operations
$
0.21
$
0.19
8 %
$
0.51
$
0.48
8 %
Adjusted EBITDA Continuing Operations
$
21
$
16
29 %
$
66
$
46
44 %
Adjusted EBITDA Margin - Continuing Operations
13.0
%
10.7
%
11.2
%
8.0
%
(1)
Reflects revisions for an immaterial classification error among cost of revenue, research and development expenses, and selling, general and administrative expenses, and other immaterial adjustments, as further described in this release.
Management Comments"Fiscal 2025 was a transformative year for Azenta. We achieved 3% core revenue growth and meaningful margin expansion," said John Marotta, President and Chief Executive Officer. "We simplified our organization, made significant progress enabled by the Azenta Business System, and strengthened our execution, which is driving measurable improvements in quality, delivery, and productivity."
Mr. Marotta continued, "We enter fiscal 2026 in a healthier position, with a more streamlined and accountable structure, with sharper focus on the customer, and growing momentum across the business. We expect core growth between 3% and 5%, approximately 300 basis points of adjusted EBITDA margin expansion, and higher free cash flow generation."
Fourth Quarter Fiscal 2025 Results - Continuing Operations
Revenue was $159 million, up 6% year over year. Organic revenue, which excludes the impact from foreign exchange, grew 4% year over year, mainly attributable to higher revenue in Multiomics.
Sample Management Solutions revenue was $86 million, up 2% year over year.
Organic revenue was flat, mainly driven by lower revenue in Cryogenic Systems, offset by higher revenue in Clinical Biostores, Automated Stores, Consumables and Instruments, and Sample Storage.
Multiomics revenue was $73 million, up 11% year over year.
Organic revenue grew 10% year over year, primarily driven by growth in Next Generation Sequencing and Gene Synthesis, partially offset by a year-over-year decline in Sanger sequencing revenue.
Summary of GAAP Earnings Results - Continuing Operations
Operating income was $2 million. Operating margin was 1.2%, an improvement of 430 basis points year over year.
Gross margin was 45.4%, flat year over year, reflecting continued cost discipline, operational improvements, and favorable sales mix in Sample Management Solutions, offset by higher costs and lower volumes in parts of the Multiomics segment.
Operating expenses were $70 million, down 4% year over year, primarily driven by lower selling, general and administrative expenses, lower transformation and lower restructuring charges, partially offset by higher research and development costs.
Other income included $5 million of net interest income versus $6 million in the prior year period.
Tax adjustments include a one-time $45.6 million benefit related to a worthless stock deduction on one of the Company's foreign subsidiaries.
Diluted EPS from continuing operations was $1.11 compared to ($0.04) one year ago. Diluted EPS from discontinued operations was ($0.08). Total diluted EPS was $1.02, compared to ($0.14) a year ago.
Summary of Non-GAAP Earnings Results - Continuing Operations
Adjusted operating income was $9 million. Adjusted operating margin was 5.7%, an improvement of 60 basis points year over year.
Adjusted gross margin was 46.7%, down 20 basis points year over year, reflecting higher costs and lower volumes in parts of the Multiomics segment, partially offset by continued cost discipline, operational improvements, and favorable sales mix in Sample Management Solutions.
Adjusted operating expenses in the quarter were $65 million, up 4% year over year, primarily driven by higher selling, general and administrative expenses and higher research and development costs.
Adjusted EBITDA was $21 million, and Adjusted EBITDA margin was 13.0%, an improvement of 230 basis points year over year.
Non-GAAP Diluted EPS was $0.21, compared to $0.19 one year ago.
Full Year Fiscal 2025 Results - Continuing Operations
Revenue for fiscal 2025 was $594 million, up 4% year over year. Organic revenue increased 3%, which excludes the impact from foreign exchange. The year-over-year revenue increase was largely attributable to higher Multiomics revenue.
Sample Management Solutions revenue was $325 million, up 2% year over year.
Organic revenue was up 1%, primarily driven by growth in Clinical Biostores, Consumables and Instruments and Sample Storage, partially offset by lower revenue in Cryogenic Systems and Automated Stores.
Multiomics revenue was $269 million, up 6% year over year.
Organic revenue grew 5% year over year, driven by growth in Next Generation Sequencing, partially offset by a year-over-year revenue decline in Sanger sequencing and Gene Synthesis.
Summary of GAAP Results - Continuing Operations
Operating loss was $27 million. Operating margin was (4.5%), an improvement of 440 basis points year over year.
Gross margin was 45.5%, up 110 basis points year over year, primarily driven by higher revenue, favorable sales mix, operating efficiencies and improved cost execution.
Operating expenses were $297 million, down 3% year over year due to lower research and development costs, lower selling, general and administrative expenses, lower restructuring charges, lower merger and acquisition costs and costs related to share repurchases, and lower amortization costs, as well as the impact of intangible asset impairment charges recorded in the prior year.
Other income included $19 million of net interest income versus $33 million in the prior year period.
Tax adjustments include a one-time $45.6 million benefit related to a worthless stock deduction on one of the Company's foreign subsidiaries.
Diluted EPS from continuing operations was $0.52 compared to ($0.46) in fiscal 2024. Diluted EPS from discontinued operations was ($1.81). Total diluted EPS was ($1.30), compared to ($3.10) a year ago.
Summary of Non-GAAP Results - Continuing Operations
Adjusted operating income was $16 million. Adjusted operating margin was 2.6%, an improvement of 200 basis points year over year.
Adjusted gross margin was 46.9%, up 100 basis points year over year, primarily driven by favorable product mix, operating efficiencies and cost reduction initiatives.
Adjusted operating expenses were $263 million, up 1% year over year, primarily driven by higher selling, general and administrative expenses, partially offset by lower research and development costs.
Adjusted EBITDA was $66 million, and Adjusted EBITDA margin was 11.2%, an improvement of 310 basis points year over year.
Non-GAAP Diluted EPS for fiscal 2025 was $0.51, compared to $0.48 in fiscal 2024.
Cash and Liquidity as of September 30, 2025
The Company ended fiscal year 2025 with a total balance of cash, cash equivalents, restricted cash, and marketable securities of $546 million.
Capital expenditures were $8 million in the quarter and $34 million for the full year.
Guidance for Full Year Fiscal 2026
Total organic revenue is expected to grow in the range of 3% to 5% relative to fiscal 2025.
Adjusted EBITDA margin expansion is expected to be approximately 300 basis points relative to fiscal 2025.
Revision of Previously Issued Financial StatementsDuring the fourth quarter of fiscal 2025, the Company identified a classification error in previously issued consolidated statements of operations. Certain costs had been incorrectly allocated among cost of revenue, research and development expenses, and selling, general and administrative expenses. As a result, cost of revenue and research and development expenses were understated and selling, general and administrative expenses were overstated by equal and offsetting amounts. The Company concluded that the error was not material, individually or in the aggregate, to any previously issued financial statements. Accordingly, the Company has corrected the error by revising the consolidated financial statements for all affected prior periods as presented herein. These revisions also reflect the correction of certain other immaterial prior-period errors that had previously been corrected on an out-of-period basis in the periods in which they were identified. Management is evaluating the impact of the classification error on the effectiveness of the Company's internal control over financial reporting. Further information regarding these revisions will be provided in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025.
Azenta does not provide forward-looking guidance on a GAAP basis for the measures on which it provides forward-looking non-GAAP guidance as the Company is unable to provide a quantitative reconciliation of forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP measure, without unreasonable effort, because of the inherent difficulty in accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliations that have not yet occurred, are dependent on various factors, are out of the company's control, or cannot be reasonably predicted. Such adjustments include, but are not limited to, transformation costs, restructuring charges, costs related to acquisitions and divestitures costs, governance-related matters, goodwill and intangible impairments, stock-based compensation, and other gains and charges that are not representative of the normal operations of the business.
Conference Call and WebcastAzenta management will webcast its fourth quarter and full year fiscal 2025 earnings conference call today at 8:30 a.m. Eastern Time. During the call, Company management will respond to questions concerning, but not limited to, the Company's financial performance, business conditions and industry outlook. Management's responses could contain information that has not been previously disclosed.
The call will be broadcast live over the Internet and, together with presentation materials referenced on the call, will be hosted at the Investor Relations section of Azenta's website at https://investors.azenta.com/events and will be archived online on this website for convenient on-demand replay.
Regulation G, Use of Non-GAAP financial MeasuresThe Company supplements its GAAP financial measures with certain non-GAAP financial measures to provide investors a better perspective on the results of business operations, which the Company believes is more comparable to the similar analyses provided by its peers. These measures are not presented in accordance with, nor are they a substitute for, U.S. generally accepted accounting principles, or GAAP. These measures should always be considered in conjunction with appropriate GAAP measures. A reconciliation of non-GAAP measures to the most nearly comparable GAAP measures is included at the end of this release following the consolidated balance sheets and statements of operations. Certain amounts in the tables that supplement the consolidated financial statements may not sum due to rounding. All percentages are calculated using unrounded amounts.
"Safe Harbor Statement" under Section 21E of the Securities Exchange Act of 1934Some statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Azenta's financial and business results to differ materially from our expectations. They are based on the facts known to management at the time they are made. Forward-looking statements include but are not limited to statements about our revenue and earnings expectations, our ability to realize margin improvement from cost reductions, and our ability to deliver financial success in the future and otherwise related to future operating or financial performance and opportunities. Factors that could cause results to differ from our expectations include the following: uncertainties in global political and economic conditions, including the imposition of additional tariffs on goods imported into the US, our ability to reduce costs effectively; the volatility of the life sciences markets the Company serves; our possible inability to meet demand for our products due to difficulties in obtaining components and materials from our suppliers in required quantities and of required quality; the inability of customers to make payments to us when due; price competition; disputes concerning intellectual property; and other factors and other risks, including those that we have described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K, Current Reports on Form 8-K and our Quarterly Reports on Form 10-Q. As a result, we can provide no assurance that our future results will not be materially different from those projected. Azenta expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions, or circumstance on which any such statement is based. Azenta undertakes no obligation to update the information contained in this press release.
About Azenta Life SciencesAzenta, Inc. (NASDAQ:AZTA) is a leading provider of life sciences solutions worldwide, enabling life science organizations around the world to bring impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and multiomics services across areas such as drug development, clinical research and advanced cell therapies for the industry's top pharmaceutical, biotech, academic and healthcare institutions globally. Our global team delivers and supports these products and services through our industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, and Barkey.
Azenta is headquartered in Burlington, Massachusetts, with operations in North America, Europe and Asia. For more information, please visit www.azenta.com.
AZENTA INVESTOR CONTACTS:
Yvonne PerronVice President, Financial Planning & Analysis and Investor
Maria Isabel CuartasManager Investor
AZENTA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(In thousands, except per share data)
Three Months Ended
Year Ended
September 30,
September 30,
2025
2024
2025
2024
Revenue
Products
$
48,020
$
47,210
$
173,189
$
173,717
Services
111,172
103,394
420,632
399,731
Total revenue
159,192
150,604
593,821
573,448
Cost of revenue
Products
26,287
28,281
94,894
105,446
Services
60,631
53,836
228,647
213,380
Total cost of revenue
86,918
82,117
323,541
318,826
Gross profit
72,274
68,487
270,280
254,622
Operating expenses
Research and development
8,258
7,539
30,390
31,524
Selling, general and administrative
61,709
64,734
261,563
262,958
Impairment of goodwill and intangible assets
—
—
—
4,658
Restructuring charges
406
851
5,171
6,766
Total operating expenses
70,373
73,124
297,124
305,906
Operating income (loss)
1,901
(4,637)
(26,844)
(51,284)
Other income (expense)
Interest income, net
5,019
5,532
18,779
32,891
Other income (expense), net
(620)
(604)
922
(732)
Income (loss) from continuing operations before income taxes
6,300
291
(7,143)
(19,125)
Income tax (benefit) expense
(44,553)
2,036
(30,801)
5,241
Income (loss) from continuing operations
50,853
(1,745)
23,658
(24,366)
Loss from discontinued operations, net of tax
(3,716)
(4,894)
(83,161)
(140,531)
Net income (loss)
$
47,137
$
(6,639)
$
(59,503)
$
(164,897)
Basic net income (loss) per share:
Income (loss) from continuing operations
$
1.11
$
(0.04)
$
0.52
$
(0.46)
Loss from discontinued operations, net of tax
(0.08)
(0.10)
(1.82)
(2.64)
Net income (loss) per share
$
1.03
$
(0.14)
$
(1.30)
$
(3.10)
Diluted net income (loss) per share:
Income (loss) from continuing operations
$
1.11
$
(0.04)
$
0.52
$
(0.46)
Loss from discontinued operations, net of tax
(0.08)
(0.10)
(1.81)
(2.64)
Diluted net income (loss) per share
$
1.02
$
(0.14)
$
(1.30)
$
(3.10)
Weighted average shares used in computing net income (loss) per share:
Basic
45,833
48,079
45,743
53,175
Diluted
45,994
48,079
45,896
53,175
AZENTA, INC.
CONSOLIDATED BALANCE SHEETS
(unaudited)
(In thousands, except share and per share data)
September 30,
September 30,
2025
2024
Assets
Current assets
Cash and cash equivalents
$
279,783
$
280,030
Short-term marketable securities
61,137
151,162
Accounts receivable, net of allowance for expected credit losses ($4,649 and $5,349, respectively)
142,181
154,172
Inventories
74,956
71,320
Short-term restricted cash
2,359
2,069
Refundable income taxes
9,728
23,866
Prepaid expenses and other current assets
64,660
51,360
Current assets held for sale
74,830
99,052
Total current assets
709,634
833,031
Property, plant and equipment, net
153,954
155,622
Long-term marketable securities
201,585
49,454
Long-term deferred tax assets
726
837
Operating lease right-of-use assets
54,048
60,406
Goodwill
702,395
691,409
Intangible assets, net
101,814
125,042
Long term income taxes receivable
45,600
—
Other assets
6,115
10,670
Noncurrent assets held for sale
80,983
173,794
Total assets
$
2,056,854
$
2,100,265
Liabilities and stockholders' equity
Current liabilities
Accounts payable
$
37,722
$
33,344
Deferred revenue
32,569
30,493
Derivative liability
33,420
1,915
Accrued warranty and retrofit costs
4,713
5,213
Accrued compensation and benefits
35,799
29,216
Accrued customer deposits
26,499
22,324
Accrued income taxes payable
9,416
9,085
Accrued expenses and other current liabilities
30,268
44,443
Current liabilities held for sale
29,563
30,050
Total current liabilities
239,969
206,083
Long-term deferred tax liabilities
19,046
18,184
Long-term operating lease liabilities
51,244
56,683
Other long-term liabilities
10,140
9,272
Noncurrent liabilities held for sale
13,209
42,196
Total liabilities
333,608
332,418
Stockholders' equity
Preferred stock, $0.01 par value - 1,000,000 shares authorized, no shares issued or outstanding
—
—
Common stock, $0.01 par value - 125,000,000 shares authorized, 59,320,848 shares issued and 45,858,979 shares outstanding at September 30, 2025, 59,031,953 shares issued and 45,570,084 shares outstanding at September 30, 2024
594
590
Additional paid-in capital
529,605
505,958
Accumulated other comprehensive loss
(22,213)
(13,464)
Treasury stock, at cost - 13,461,869 shares at September 30, 2025 and September 30, 2024
(200,956)
(200,956)
Retained earnings
1,416,216
1,475,719
Total stockholders' equity
1,723,246
1,767,847
Total liabilities and stockholders' equity
$
2,056,854
$
2,100,265
AZENTA, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(In thousands)
Year Ended
September 30,
2025
2024
Cash flows from operating activities
Net loss
$
(59,503)
$
(164,897)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
61,209
90,744
Impairment of goodwill and intangible assets
—
115,975
Loss on assets held for sale
97,139
—
Property, plant and equipment and other asset write-offs
3,478
4,430
Inventory write-downs
—
3,290
Other non-cash charges related to restructuring and transformation
—
4,317
Stock-based compensation
20,881
14,467
Amortization and accretion on marketable securities
(1,578)
(6,032)
Deferred income taxes
(27,152)
(16,072)
Loss on disposals of property, plant and equipment
711
