Azenta : Presentation (Q2 26 Earnings Deck FINAL 05 05 26)

Published: 2026-05-06 08:18:11 ET AZTA

Published on 05/06/2026 at 08:18 am EDT

Fiscal Second Quarter 2026 Financial Results

EARNINGS PRESENTATION May 6, 2026

Azenta Life Sciences Q2 2026 Financial Overview

Performance Highlights

Q2'26 Revenue

Revenue $145M, up 1% reported and down 3% organic YoY

Multiomics down 2% from lower volumes in North America

SMS down 3% from softer demand for Automated and Cryogenic Stores

Strong growth in Sample Repository Solutions

Profitability

Adjusted EBITDA of 5.4%, down 320 bps YoY

Non-GAAP EPS of ($0.04)

Balance Sheet and Capital Allocation

Ample cash of $565M available for disciplined and long-term value creating initiatives

Generated ~$5M of free cash flow

QUARTER ENDED MARCH 31, 2026

Revenue

Adjusted EBITDA Margin

$145M

Up 1% reported

Down 3% organic

Free Cash Flow

$5M

Cash Balance

$565M

Q2 2026 Selected Non-GAAP Financial Measures

QUARTER ENDED MARCH 31, 2026

Total Azenta Organic Growth

$ millions except EPS and percentages

Non-GAAP

Q2'25 Q2'26 YtY

$ millions

Q2'25

Q2'26

YtY

Reported

143

145

(4)

(3%)

Ex FX

143

141

(2%)

M&A

(1)

(1%)

Organic

143

140

(3%)

Revenue

$ 143 $ 145

Gross profit

$ 65 64

(1%)

45.4% 44.3%

(1.1) pts.

R&D

8 9

24%

SG&A

60 62

Operating Income

(3)

(7)

($4)

(1.8%)

(4.9%)

(3.0) pts.

Interest Income (Expense)

($0)

Other Income (Expense)

(1)

Tax Benefit (Provision)

(0)

Net Income - continuing ops

$ 0.6

$ (1.8)

($2)

0.4%

(1.2%)

(1.7) pts.

Continuing Ops - Diluted EPS

$0.01

($0.04)

($0.05)

Total Azenta - Diluted EPS

Adjusted EBITDA

$ 12

$ 8

($4)

8.5%

5.4%

(3.2) pts.

Multiomics: Down 2%

Sample Management Solutions: Down 3%

Q2'25 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 the Annual Report on Form 10-K for the fiscal year ended September 30, 2025.

Q2 2026 Performance by Segment

ORGANIC UNLESS OTHERWISE NOTED

44%

Multiomics (GENEWIZ)

$64 million

Flat YoY reported

(2%) YoY organic

Revenue by Segment

$145 million

1% reported

(3%) organic

56%

Sample Management Solutions

$81 million

Up 2% YoY reported

(3%) YoY organic

Sample Management Solutions ("SMS")

LDD decline in Core Products due to prolonged softness in Automated and Cryogenic Stores

LSD growth in Consumables and Instruments

HSD growth in Sample Repository Solutions

Multiomics

LDD decline in Sanger Sequencing

MSD growth in Next Generation Sequencing

MSD growth in Gene Synthesis supported by Oligo demand in China

Summary Consolidated Balance Sheet

QUARTER ENDED MARCH 31, 2026

Balance Sheet

$ millions

Dec 2025

Mar

2026 QtQ

$574M of cash, cash equivalents, restricted cash and marketable securities, including

$9M of cash in Current assets held for sale

$149M goodwill impairment

No debt outstanding

Strong balance sheet for future capital deployment opportunities

Cash, restricted cash, short term marketable securities

412

383

(29)

Accounts receivable, net

142

131

(11)

Inventories

(4)

Other current assets

114

103

(11)

Current assets held for sale

Current Assets

826

773

(53)

Accounts payable

(39) (33)

Deferred revenue

(33) (39)

(6)

Other current liabilities

(161) (154)

Current liabilities held for sale

(35

) (31)

Current Liabilities

(267

) (257)

Net Current Assets

558

515

(43)

Long-term marketable securities, restricted cash

159

182

Property, plant and equipment

152

170

Goodwill and intangible assets

799

647

(152)

Net long-term deferred tax assets (liabilities)

(15) (15)

(1)

Other net long-term assets (liabilities)

(3) (3)

Non-current assets held for sale, net

(6)

Net assets

1,715

1,555

(160)

Summary Consolidated Cash Flow

QUARTER ENDED MARCH 31, 2026

Cash Flow

$ millions

Q2'26

Cash, restricted cash and marketable securities - Beginning 581

Net income

(161)

Non-cash adjustments

154

Depreciation & amortization

Stock-based compensation

Change in working capital

Other operating items

(4)

Cash flow from operations

Capital expenditures

(7)

Acquisition related, net of cash acquired

(10)

Other

(3)

Net change in cash and marketable securities

(7)

Cash, restricted cash and marketable securities - Ending

574

Free cash flow is defined as Cash flow from operations less Capital expenditures

$574M cash, cash equivalents, restricted cash and marketable securities, including

$9M of cash in Current assets held for sale

Non-cash adjustments include $149M goodwill impairment

UKBC acquisition cash purchase $10M

Cash flow from operations $12M

Free cash flow $5M

Fiscal Year 2026 Guidance

2026 Guidance Prior (November 2025)

Updated (May 2026)

Comments

Revenue

Adjusted

Organic Growth: 3% to 5% YoY Sample Management Solutions: +MSD

Multiomics: +LSD

Reported: ~$603M - $621M Organic: (2%) to up 1% YoY

Sample Management Solutions: +LSD Multiomics: Down MSD

Low end of the range reflects continued softness in Multiomics in North America and in the capital-intensive products within SMS

High end of the range reflects a modest increase in demand in North America, additional order closures for Stores and Cryo, and incremental revenue pull through

Primarily from lower volumes resulting in

EBITDA

~300 bps YoY margin improvement Down ~125 bps to flat YoY

reduced fixed-cost absorption. Excludes

~35bps dilution from UKBC

Other

Free Cash Flow: ~30% YoY improvement

Interest Income: $16M - $18M Tax Rate: 27% - 29%

Free Cash Flow: ~10% - 15% YoY improvement

Interest Income: $16M - $18M Tax Rate: 27% - 29%

Free Cash Flow: Reflecting the revised operating outlook and continued discipline in capital allocation

Long-range plan timing updated to 2029 versus 2028 aligned with revised 2026 guidance

Note: LSD = low-single digit, MSD = mid-single digit, HSD = high-single digit

Appendix

GAAP to Non-GAAP Reconciliation

TOTAL AZENTA

$ millions except percentages

Q1 FY 25

Q2 FY 25

Q3 FY 25

Q4 FY 25

FY 25

Q1 FY 26

Q2 FY 26

Revenue

147.4

143.3

143.9

159.2

593.8

148.6

144.8

GAAP gross profit

68.8

62.8

66.4

72.3

270.3

63.7

62.0

Gross profit margin

46.7%

43.8%

46.2%

45.4%

45.5%

42.9%

42.8%

Amortization expense

1.5

2.3

2.1

8.0

1.9

2.1

Transformation (1)

0.1

0.0

0.1

Non- GAAP gross profit

70.4

65.1

68.5

74.4

278.3

65.6

64.1

Non-GAAP gross profit margin

47.7%

45.4%

47.6%

46.7%

46.9%

44.1%

44.3%

GAAP Research and development

(7.1)

(7.6)

(7.4)

(8.3)

(30.4)

(9.2)

(9.4)

GAAP Selling, general and administrative

(70.0)

(69.8)

(60.1)

(61.7)

(261.6)

(60.6)

(217.0)

Merger and acquisition costs (2)

1.6

0.7

0.1

2.4

0.0

2.2

Amortization expense

4.6

3.8

4.1

4.0

16.5

3.6

Impairment of goodwill and intangible assets (3)

149.1

Transformation (1)

3.0

5.2

1.5

0.6

10.4

1.2

0.4

Non- GAAP Selling, general and administrative

(60.8)

(60.1)

(54.4)

(57.0)

(232.3)

(55.8)

(61.7)

Restructuring charges

(0.4)

(3.6)

(0.8)

(0.4)

(5.2)

(1.1)

(1.4)

GAAP operating profit (loss)

(8.7)

(18.2)

(1.8)

1.9

(26.8)

(7.2)

(165.8)

Operating profit margin

(5.9%)

(12.7%)

(1.3%)

1.2%

(4.5%)

(4.9%)

(114.5%)

Non- GAAP operating profit

2.4

(2.6)

6.7

9.1

15.6

0.5

(7.0)

Non-GAAP operating profit margin

1.6%

(1.8%)

4.7%

5.7%

2.6%

0.4%

(4.8%)

GAAP net income (loss)

(7.1)

(19.8)

(0.3)

51.7

24.4

(5.2)

(157.0)

Merger and acquisition costs (2)

1.6

0.7

0.1

2.4

0.0

2.2

Amortization expense

6.1

6.2

6.1

24.4

5.4

5.6

Restructuring charges

0.4

3.6

0.8

0.4

5.2

1.1

1.4

Transformation (1)

3.0

5.2

1.5

0.6

10.4

1.2

0.4

Impairment of goodwill and intangible assets (3)

149.1

Non-recurring other income

0.0

(2.1)

0.0

(3.9)

Tax related adjustments

0.4

6.9

(0.0)

(47.0)

(39.7)

Tax effect of adjustments

1.0

0.1

(0.5)

(2.2)

(1.7)

1.6

0.3

Non- GAAP net income

5.5

0.6

7.7

9.6

23.4

4.2

(1.8)

GAAP Diluted earnings per share

($0.16)

($0.43)

($0.01)

$1.12

$0.53

($0.11)

($3.41)

Non-GAAP diluted earnings per share

$0.12

$0.01

$0.17

$0.21

$0.51

$0.09

($0.04)

definition of restructuring charges. Please see Form 10 Q and Earnings Release for additional details.

Includes expenses related to governance-related matters.

Represents non-cash goodwill impairment charges recognized in connection to the Company's annual and interim impairment assessment, including $112.4 million for the Multiomics reporting unit and

$36.6 million for the Sample Management Solutions reporting unit.

Q1'25, Q2'25 and Q3'25 reflect 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 the Annual Report on Form 10-K for the fiscal year ended September 30, 2025.

GAAP to Non-GAAP Reconciliation

CONTINUING OPERATIONS - SEGMENTS

$ millions except percentages

Q1 FY 25

Q2 FY 25

Q3 FY 25

Q4 FY 25

FY 25

Q1 FY 26

Q2 FY 26

Multiomics

Revenue

66.3

63.5

66.2

73.2

269.2

67.2

63.7

Gross profit

29.7

26.6

26.2

31.1

113.6

27.9

25.0

Gross profit margin

44.8%

41.9%

39.6%

42.5%

42.2%

41.5%

39.2%

Amortization expense

0.9

3.4

0.7

Non- GAAP gross profit

30.5

27.5

27.1

32.0

117.1

28.6

25.6

Non-GAAP gross profit margin

46.1%

43.3%

40.9%

43.7%

43.5%

42.6%

40.2%

GAAP Research and development

(3.0)

(3.2)

(3.1)

(3.2)

(12.5)

(3.5)

(3.6)

GAAP Selling, general and administrative

(29.8)

(28.0)

(29.0)

(116.6)

(29.5)

(32.1)

Operating expenses

(32.9)

(33.0)

(31.0)

(32.1)

(129.0)

(33.0)

(35.7)

Operating profit

(3.2)

(6.4)

(4.8)

(1.0)

(15.4)

(5.1)

(10.8)

Operating profit margin

(4.8%)

(10.0%)

(7.3%)

(1.4%)

(5.7%)

(7.5%)

(16.9%)

Non- GAAP operating profit

(2.3)

(5.5)

(4.0)

(0.1)

(11.9)

(4.4)

(10.1)

Non-GAAP operating profit margin

(3.5%)

(8.7%)

(6.0%)

(0.2%)

(4.4%)

(6.5%)

(15.8%)

Q1 FY 25

Q2 FY 25

Q3 FY 25

Q4 FY 25

FY 25

Q1 FY 26

Q2 FY 26

SMS

Revenue

81.1

79.8

77.6

86.0

324.6

81.4

81.1

GAAP gross profit

39.1

36.1

40.2

41.2

156.6

35.8

37.1

Gross profit margin

48.2%

45.3%

51.8%

47.9%

48.3%

43.9%

45.7%

Transformation (1)

0.1

0.0

0.1

Amortization expense

0.6

1.4

1.2

4.5

1.2

1.4

Non- GAAP gross profit

39.8

37.6

41.4

42.4

161.2

37.0

38.5

Non-GAAP gross profit margin

49.1%

47.1%

53.4%

49.3%

49.7%

45.4%

47.4%

GAAP Research and development

(4.1)

(4.4)

(4.3)

(5.1)

(17.9)

(5.7)

(5.8)

GAAP Selling, general and administrative

(31.0)

(33.0)

(26.5)

(28.1)

(118.6)

(26.3)

(29.6)

Operating expenses

(35.1)

(37.4)

(30.9)

(33.2)

(136.5)

(32.1)

(35.4)

GAAP operating profit

4.0

(1.2)

9.3

8.0

20.1

3.7

1.7

Operating profit margin

5.0%

(1.5%)

12.0%

9.3%

6.2%

4.6%

2.0%

Transformation (1)

0.1

2.6

0.2

(0.1)

2.8

0.1

Non- GAAP operating profit

4.8

2.8

10.7

9.2

27.5

5.0

3.1

Non-GAAP operating profit margin

5.9%

3.5%

13.8%

10.7%

8.5%

6.1%

3.8%

Transformation costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to the Company focused on cost reduction and productivity improvement that do not meet the definition of restructuring charges. Please see Form 10 Q and Earnings Release for additional details.

CONTINUING OPERATIONS

Q2 FY 25

Q3 FY 25

Q4 FY 25

FY 25

Q1 FY 26

Q2 FY 26

$ millions except percentages

Net income (11.0)

(47.7)

(48.0)

50.9

(55.8)

(15.4)

(160.8)

(Income) Loss from discontinued operations, net of tax 3.9

27.9

47.7

0.8

80.2

10.2

3.8

Net income (Loss) f rom continuing operations (7.1)

(19.8)

(0.3)

51.7

24.5

(5.2)

(157.0)

Adjustments:

Interest income

(4.3)

(4.5)

(5.0)

(18.8)

(5.1)

(4.4)

Income tax provision

3.9

7.2

2.6

(45.4)

(31.6)

3.1

(0.3)

Depreciation

7.5

7.8

8.4

8.3

32.0

8.2

8.3

Amortization of intangible assets

6.1

6.2

6.1

24.4

5.4

5.6

EBITDA - f rom Continuing Operations

6.1

(3.1)

11.9

15.7

30.6

6.5

(147.8)

Adjustments:

Stock-based compensation

4.9

8.0

3.0

3.9

19.8

3.9

6.3

Transformation (1)

3.0

5.2

1.5

0.6

10.4

1.2

0.4

Merger and acquisition costs (2)

1.6

0.7

0.1

2.4

0.0

2.2

Impairment of goodwill and intangible assets (3)

149.1

Non-recurring other income

0.0

(2.1)

0.0

(2.1)

0.0

(3.9)

Restructuring charges

0.4

3.6

0.8

0.4

5.2

1.1

1.4

Adjusted EBITDA - f rom Continuing Operations

16.0

12.2

17.4

20.7

66.3

12.7

7.8

Adjusted EBITDA margin

10.8%

8.5%

12.1%

13.0%

11.2%

8.5%

5.4%

Net Income to Adjusted EBITDA Reconciliation

Q1 FY 25

restructuring charges. Please see Form 10 Q and Earnings Release for additional details.

Includes expenses related to governance-related matters.

Represents non-cash goodwill impairment charges recognized in connection to the Company's annual and interim impairment assessment, including $112.4 million for the Multiomics reporting unit and $36.6 million for the Sample Management Solutions reporting unit.

Calculation of Non-GAAP Organic Revenue

CONTINUING OPERATIONS

Q1 FY 25

Q2 FY 25

Q3 FY 25

Q4 FY 25

FY 25

Q1 FY 26

Q2 FY 26

Revenue

(0%)

Acquisitions/divestitures

(1%)

Currency exchange rates

(0%)

(2%)

(1%)

(2%)

(3%)

Organic revenue

(2%)

(1%)

(3%)

Q1 FY 25

Q2 FY 25

Q3 FY 25

Q4 FY 25

FY 25

Q1 FY 26

Q2 FY 26

SMS

Revenue

(4%)

Acquisitions/divestitures

(2%)

Currency exchange rates

(1%)

(2%)

(1%)

(2%)

(3%)

Organic revenue

(6%)

(0%)

(2%)

(3%)

Q1 FY 25

Q2 FY 25

Q3 FY 25

Q4 FY 25

FY 25

Q1 FY 26

Q2 FY 26

Multiomics

Revenue

11%

Acquisitions/divestitures

Currency exchange rates

(0%)

(1%)

(0%)

(1%)

(3%)

Organic revenue

10%

(0%)

(2%)

Disclaimer

Azenta Inc. published this content on May 06, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 06, 2026 at 12:17 UTC.