Azenta Inc Stock Price, News & Analysis

Azenta (NASDAQ: AZTA) announced the election of Dipal Doshi to its Board of Directors at its Annual Meeting of Stockholders. Doshi, who currently serves as the Chief Executive Officer of Entrada Therapeutics (NASDAQ: TRDA), brings extensive experience in the biotechnology and pharmaceutical industries.

John Marotta, President and CEO of Azenta, highlighted Doshi's exceptional leadership qualities and valuable experience in strategy, operational and commercial growth, along with his perspective as a current public company CEO. Doshi expressed enthusiasm about joining Azenta during a important period in its development, emphasizing the company's strong market leadership position and commitment to growth and innovation.

Azenta (Nasdaq: AZTA) has announced it will release its fiscal first quarter 2025 financial results on Wednesday, February 5, 2025, before market opening. The earnings report will cover the period ended December 31, 2024.

The company will host a conference call and live webcast to discuss the results on the same day at 8:30 a.m. Eastern Time. The webcast will be accessible through Azenta's investor relations website, with a replay available starting February 6, 2025, at 8:30 a.m. ET.

Azenta (Nasdaq: AZTA) has been selected by UK Biocentre to provide its BioArc Ultra automated storage system for expanding large-scale sample storage capabilities. This addition complements seven existing BioArc Flex systems at their facility. The new system will be installed at UK Biocentre's 70,000 square-foot facility in Milton Keynes, England.

The BioArc Ultra will increase the facility's storage capacity by 16 million samples, adding to its current 35 million sample capacity. The system features high-density, fully automated -80°C storage with picking capability of up to 9 million picks per year. The solution includes FluidX 2D-coded screw-cap tubes for enhanced inventory management.

Key benefits include reduced footprint, lower labor requirements, and decreased electricity costs. The system employs an eco-friendly refrigeration system with zero Ozone Depletion Potential and zero Global Warming Potential. UK Biocentre will use this technology to support the Our Future Health study, which aims to develop new ways to prevent, detect, and treat diseases across up to 5 million people in the UK.

Azenta (Nasdaq: AZTA) has announced its participation in the Stephens Annual Investment Conference on Wednesday, November 20, 2024. The company's management will deliver a presentation starting at 1:00 pm CT. Investors and interested parties can access the live webcast through Azenta's investor relations website. A replay option will be made available after the event concludes.

Azenta reported its Q4 and FY 2024 results, highlighting a 4% revenue growth in Sample Management Solutions and Multiomics. The company anticipates a 3%-5% organic revenue growth for FY 2025 and a 300 basis points EBITDA margin expansion. For Q4, revenue was $170 million, down 1% YoY, with a 2% organic decline. Sample Management Solutions and Multiomics grew by 5% and 8% organically, respectively, while B Medical Systems saw a 35% decline. FY 2024 revenue was $656 million, down 1% YoY, driven by a 27% decline in B Medical Systems revenue. The company reported an operating loss of $201 million for FY 2024, with a non-GAAP diluted EPS of $0.41. Azenta plans to sell B Medical Systems to focus on core businesses and appointed Lawrence Y. Lin as the new CFO. They ended FY 2024 with $522 million in cash and equivalents and repurchased 4.9 million shares worth $249 million in Q4.

Azenta (Nasdaq: AZTA) has scheduled its fiscal fourth quarter and full year 2024 earnings announcement for Tuesday, November 12, 2024, after market close. The company will host a conference call and live webcast at 4:30 p.m. Eastern Time on the same day to discuss the financial results for the period ended September 30, 2024. A replay of the webcast will be available starting at 8:30 a.m. ET on November 13, 2024.

Azenta (NASDAQ: AZTA) has appointed three new independent directors to its Board: William Cornog (former head of KKR Capstone), Quentin Koffey (Founder of Politan Capital Management, owning 9.4% of Azenta), and Alan Malus (former Executive VP of Thermo Fisher). The company established a new Value Creation Committee to focus on long-term value creation, growth initiatives, and capital deployment. The committee will be chaired by William Cornog and includes the new directors along with CEO John Marotta and current director Martin Madaus. Azenta has also reaffirmed its full-year 2024 financial guidance previously announced on August 6th, 2024.

Azenta (Nasdaq: AZTA) has become the first commercial provider to receive regulatory approval for a clinical long-read Whole Genome Sequencing (WGS) test in the United States. The test, utilizing PacBio's Revio sequencer for HiFi sequencing, is performed in GENEWIZ's CLIA-certified and CAP-accredited clinical genomics laboratory. This breakthrough enables precise detection of complex genomic alterations associated with rare diseases that are typically undetectable through traditional short-read sequencing methods. The technology provides comprehensive genome analysis by capturing long DNA stretches in single reads, enhancing diagnostic accuracy for rare diseases.

Azenta, Inc. (Nasdaq: AZTA) has announced a significant leadership change. John P. Marotta will join as President and CEO on September 9, 2024, succeeding retiring Dr. Stephen Schwartz. Marotta brings two decades of experience in life sciences, medical devices, and diagnostics. He joins from Patient Square Capital and previously served as CEO of PHC Holdings The appointment follows a rigorous search process led by the Board. Frank E. Casal, Chairman of Azenta's Board, expressed confidence in Marotta's ability to lead the company's next growth phase. Dr. Schwartz, who led Azenta for 14 years, will remain as an advisor to ensure a smooth transition.