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Azenta, Inc. has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing reports a revenue of $656.3 million, a slight decrease from $665.1 million in the previous year, with a net loss of $164.2 million compared to a net loss of $14.3 million last year.
The decrease in revenue is attributed to a decline in the B Medical Systems segment, while the Sample Management Solutions and Multiomics segments showed revenue growth.
Gross margin for the fiscal year was reported at 40.1%, a slight increase from 39.6% in the prior year, driven by improvements in the Sample Management Solutions and Multiomics segments.
Operating expenses increased to $464.0 million from $336.3 million, primarily due to a $116.0 million non-cash impairment of goodwill and intangible assets and increased restructuring charges.
The company reported an income tax benefit of $3.2 million for the fiscal year, compared to a benefit of $17.6 million in the previous year.
Azenta's balance sheet shows cash and cash equivalents of $310.9 million and marketable securities of $200.6 million as of September 30, 2024.
Cash provided by operating activities was $50.3 million, an increase from $7.2 million in the prior year, attributed to improved inventory management and cost reduction initiatives.
Azenta completed its share repurchase program, repurchasing and retiring 30 million shares for $1.5 billion under the 2022 Repurchase Authorization.
The company continues to focus on its transformation initiatives aimed at optimizing resources and improving efficiency across its organization.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Azenta Inc. annual 10-K report dated November 27, 2024. To report an error, please email earnings@qz.com.