The following is a summary of the Azenta, Inc. (AZTA) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Azenta reported Q3 2024 revenue of $173 million, up 5% year-over-year and 9% sequentially.

• Adjusted EBITDA margin was 10.3%, marking an improvement of 260 basis points year-over-year and 440 basis points versus the prior quarter.

• Operating profit reached $4.6 million, the first in six quarters, reflecting efficient execution and profitability strategies.

• Non-GAAP EPS for the quarter was $0.16.

Business Progress:

• Azenta is focusing on automating sample management with new tools for faster and cheaper registration and storage, enhancing operational efficiencies and customer satisfaction.

• Multi-year contracts for managing large sample collections for pharmaceutical companies are underway, signifying robust business prospects.

• The company is advancing in the Multiomics GENEWIZ team with strong performances and significant volume growth in next-generation sequencing, despite broader market challenges.

Opportunities:

• Azenta plans to further enhance its sample management capabilities, aiming to become a comprehensive provider for laboratory and AI model inputs.

• Significant interest in rare and valuable samples presents opportunities for expanded service offerings and leveraging advanced technology.

More details: Azenta IR

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