News Releases
Azenta Reports First Quarter Results For Fiscal 2023, Ended December 31, 2022
  • Reported Q1'23 Revenue of $178 Million and Growth of 28% Year-Over-Year
  • Delivered Organic Growth Excluding COVID of 7%
  • Reducing Cost Structure to Deliver Two Points of Margin Enhancement in 2nd Half FY23

BURLINGTON, Mass., Feb. 8, 2023 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today reported financial results for the first quarter ended December 31, 2022.

                                 
     

Quarter Ended

Dollars in millions, except per share data

   

December 31, 

 

September 30, 

 

December 31, 

 

Change

     

2022

 

2022

 

2021

 

Prior Qtr

 

Prior Yr.

Revenue from Continuing Operations

   

$

178

 

$

138

 

$

140

 

30

%

 

28

%

   Organic growth ex-COVID impacts

                           

7

%

Life Sciences Products

   

$

90

 

$

48

 

$

50

 

85

%

 

80

%

Life Sciences Services

   

$

89

 

$

89

 

$

90

 

(1)

%

 

(1)

%

                                 

Diluted EPS Continuing Operations

   

$

(0.15)

 

$

(0.07)

 

$

0.04

 

nm

   

nm

 

Diluted EPS Total

   

$

(0.15)

 

$

(0.28)

 

$

0.58

 

nm

   

nm

 
                                 

Non-GAAP Diluted EPS Continuing Operations

   

$

0.12

 

$

0.16

 

$

0.12

 

(21)

%

 

4

%

Adjusted EBITDA Continuing Operations

   

$

12

 

$

9

 

$

20

 

27

%

 

(40)

%

 

Management Comments

"Our first fiscal quarter growth highlights the strength of the business, achieving 7% organic growth excluding COVID impacts, while delivering record revenue from B Medical, the recent addition to our cold chain portfolio," stated Steve Schwartz, President and CEO, "Integration of B Medical is well under way and momentum continues in many areas across the business. In addition, we have initiated actions to streamline our business structure to enhance efficiency in operations, which we expect to contribute two points of margin improvement in the third fiscal quarter. In all, we see significant opportunity ahead and remain focused on delivering profitable growth."

First Quarter Fiscal 2023 Results

The Company has referenced in the explanation of revenue the estimated impact of COVID which includes the estimated revenue contribution from products delivered and services rendered to support COVID testing and research, and estimated constraints on the business due to disruptions in customer demand or the Company's ability to deliver in the COVID environment.

             

% Change YtY

Reported

 

Organic

 

Organic ex-COVID
impacts

 

Total Azenta Revenue

28

%

(1)

%

7

%

  Life Sciences Products

80

%

(6)

%

15

%

  Life Sciences Services

(1)

%

2

%

4

%

 

  • Revenue was $178 million, up 28% year over year and up 30% sequentially. Organic revenue declined 1%, which excludes 4 percentage points of headwind from foreign exchange and $46 million revenue contribution from acquired businesses, B Medical and Barkey.
  • Organic growth was 7% excluding COVID impacts. The estimated COVID impact on organic revenue was approximately zero in the first quarter compared to $11 million in the prior year period primarily from higher sales of consumables for COVID testing.
  • Life Sciences Products revenue increased 80% year over year primarily due to the addition of B Medical. Acquired businesses contributed $46 million to revenue in the quarter. Organic revenue declined 6% and was up 15% excluding COVID impacts.
  • Life Sciences Services revenue declined 1% year over year, with 7% growth in sample repository solutions ("SRS") and a 4% decline in genomics. Organic growth was 2%, and was up 4% excluding COVID impacts. The genomics business provided 2% organic growth and the SRS business provided 10% organic growth, excluding COVID impacts.

Summary of GAAP Earnings Results

  • Operating loss was $28 million. Gross margin was 41.4%, down 80 basis points quarter over quarter. Selling, general and administrative expenses of $93 million included the addition of B Medical structure, the advisory costs related to M&A and the share buyback, and purchase accounting treatment.
  • Diluted EPS from continuing operations was ($0.15) compared to $0.04 in first quarter of fiscal 2022. Total diluted EPS was ($0.15), compared to $0.58 one year ago. Other income included $11 million of net interest income versus a $0.4 million expense in the prior year period.

Summary of Non-GAAP Earnings Results

  • Operating income was breakeven at $0.0 million. Operating margin declined 880 basis points year over year. Gross margin was 45.4%, up 150 basis points quarter over quarter and down 390 basis points year over year. Operating expense in the quarter was $81 million, up $24 million year over year.
  • Diluted EPS was $0.12, flat versus one year ago. Adjusted EBITDA, which excludes stock-based compensation, was $12 million, and Adjusted EBITDA margin was 6.7%, down 750 basis points year over year.

Cash and Liquidity as of December 31, 2022

  • The Company ended the quarter with a total balance of cash, cash equivalents, restricted cash and marketable securities of $1.4 billion.
  • On November 23, 2022, the Company entered into a $500 million accelerated share repurchase agreement ("ASR") with J.P. Morgan Chase Bank, N.A. The Company received initial delivery of 6.1 million shares of the Company's common stock. The final settlement of the ASR is expected to be completed by the end of the third fiscal quarter ended June 30, 2023.
  • On October 3, 2022, the Company completed the acquisition of B Medical Systems S.a.r.l for approximately $424 million in cash, of which $43 million was paid in fiscal 2022 and $383 million was paid in the first quarter.

Subsequent Events

  • On February 2, 2023, the Company completed the acquisition of Ziath, Ltd., a leading provider of 2D barcode readers for life sciences applications.

Cost Reduction Initiatives

  • After the end of the first fiscal quarter of 2023, the Company initiated cost reductions expected to deliver two points of operating margin enhancement in the 2nd half of fiscal year 2023.

Guidance for Second Quarter Fiscal 2023

The Company announced revenue and earnings guidance for the second quarter fiscal 2023. Revenue is expected to be in the range of $156 to $171 million and non-GAAP diluted earnings per share is expected to be in the range of ($0.04) to $0.04. GAAP diluted earnings per share from continuing operations is expected to be in the range of ($0.24) to ($0.16).

Conference Call and Webcast

Azenta management will webcast its first quarter fiscal 2023 earnings conference call today at 4:30 p.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. In addition, you may call 800- 908-8386 (US & Canada only) or +1-212-231-2924 for international callers to listen to the live webcast.

Regulation G – Use of Non-GAAP financial Measures

The 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, statements of operations and statements of cash flows.

"Safe Harbor Statement" under Section 21E of the Securities Exchange Act of 1934

Some 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. Other 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, our ability to integrate acquired companies, our ability to improve or retain our market position, 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:  our ability to reduce costs effectively, the impact of the COVID-19 global pandemic on the markets we serve, including our supply chain, and on the global economy generally; 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; uncertainties in global political and economic conditions; our ability to successfully invest the cash proceeds from the sale of our Semiconductor Automation business; 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 circumstances on which any such statement is based. Azenta undertakes no obligation to update the information contained in this press release.

About Azenta Life Sciences
Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions worldwide, enabling impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and genomic 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.

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: 

Sara Silverman
Head of Investor Relations & Corporate Communications
ir@azenta.com

Sherry Dinsmore
sherry.dinsmore@azenta.com

 

AZENTA, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

(In thousands, except per share data)

           
 

Three Months Ended

 

December 31, 

 

2022

 

2021

           

Revenue

         

Products

$

85,798

 

$

45,869

Services

 

92,568

   

93,783

Total revenue

 

178,366

   

139,652

Cost of revenue

         

Products

 

54,099

   

24,523

Services

 

50,402

   

48,085

Total cost of revenue

 

104,501

   

72,608

Gross profit

 

73,865

   

67,044

Operating expenses

         

Research and development

 

7,536

   

6,485

Selling, general and administrative

 

92,552

   

60,711

Restructuring charges

 

1,462

   

173

Total operating expenses

 

101,549

   

67,369

Operating loss

 

(27,685)

   

(325)

Interest income

 

10,708

   

35

Interest expense

 

(43)

   

(455)

Other income (expense)

 

1,145

   

(1,077)

Loss before income taxes

 

(15,875)

   

(1,822)

Income tax provision (benefit)

 

(4,640)

   

(4,680)

Income (loss) from continuing operations

 

(11,235)

   

2,858

Income from discontinued operations, net of tax

 

   

40,462

Net income (loss)

$

(11,235)

 

$

43,320

Basic net (loss) income per share:

         

(Loss) / Income from continuing operations

$

(0.15)

 

$

0.04

Income from discontinued operations, net of tax

 

   

0.54

Basic net income per share

$

(0.15)

 

$

0.58

Diluted net income / (loss) per share:

         

(Loss) / Income from continuing operations

$

(0.15)

 

$

0.04

Income from discontinued operations, net of tax

 

   

0.54

Diluted net income (loss) per share

$

(0.15)

 

$

0.58

Weighted average shares used in computing net income per share:

         

Basic

 

72,543

   

74,630

Diluted

 

72,543

   

74,866

 

 

 

AZENTA, INC.

CONSOLIDATED BALANCE SHEETS

(unaudited)

(In thousands, except share and per share data)

           
 

December 31, 

 

September 30,

 

2022

 

2022

           

Assets

         

Current assets

         

Cash and cash equivalents

$

608,304

 

$

658,274

Short-term marketable securities

 

522,897

   

911,764

Accounts receivable, net of allowance for expected credit losses ($6,942 and $5,162,
respectively)

 

201,920

   

163,758

Inventories

 

145,939

   

85,544

Derivative asset

 

47,953

   

124,789

Short-term restricted cash

 

7,070

   

382,596

Prepaid expenses and other current assets

 

85,901

   

132,621

Total current assets

 

1,619,984

   

2,459,346

Property, plant and equipment, net

 

217,271

   

154,470

Long-term marketable securities

 

304,675

   

352,020

Long-term deferred tax assets

 

298

   

1,169

Goodwill

 

761,153

   

513,623

Intangible assets, net

 

327,106

   

178,401

Other assets

 

61,929

   

57,093

Total assets

$

3,292,416

 

$

3,716,122

Liabilities and stockholders' equity

         

Current liabilities

         

Accounts payable

$

55,259

 

$

38,654

Deferred revenue

 

42,641

   

39,748

Accrued warranty and retrofit costs

 

5,179

   

2,890

Accrued compensation and benefits

 

34,524

   

41,898

Accrued income taxes payable

 

24,529

   

28,419

Accrued expenses and other current liabilities

 

86,894

   

78,937

Total current liabilities

 

249,026

   

230,546

Long-term tax reserves

 

1,696

   

1,684

Long-term deferred tax liabilities

 

85,886

   

64,555

Long-term pension liabilities

 

278

   

261

Long-term operating lease liabilities

 

52,494

   

49,227

Contingent consideration liability

 

18,462

   

Other long-term liabilities

 

13,185

   

6,463

Total liabilities

 

421,027

   

352,736

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, 82,515,917 shares issued and
69,054,048 shares outstanding at December 31, 2022, 88,482,125 shares issued and 75,020,256
shares outstanding at September 30, 2022

 

824

   

885

Additional paid-in capital

 

1,489,554

   

1,992,017

Accumulated other comprehensive loss

 

(62,074)

   

(83,916)

Treasury stock, at cost - 13,461,869 shares at December 31, 2022 and September 30, 2022

 

(200,956)

   

(200,956)

Retained earnings

 

1,644,041

   

1,655,356

Total stockholders' equity

 

2,871,389

   

3,363,386

Total liabilities and stockholders' equity

$

3,292,416

 

$

3,716,122

           

 

Notes on Non-GAAP Financial Measures

Non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. Management adjusts the GAAP results for the impact of amortization of intangible assets, restructuring charges, purchase price accounting adjustments and charges related to M&A to provide investors better perspective on the results of operations which the Company believes is more comparable to the similar analysis provided by its peers.  Management also excludes special charges and gains, such as impairment losses, gains and losses from the sale of assets, certain tax benefits and charges, as well as other gains and charges that are not representative of the normal operations of the business. Management strongly encourages investors to review our financial statements and publicly filed reports in their entirety and not rely on any single measure.

                                     
   

Quarter Ended

   

December 31, 2022

 

September 30, 2022

 

December 31, 2021

       

per diluted

     

per diluted

     

per diluted

Dollars in thousands, except per share data 

 

$

 

share

 

$

 

share

 

$

 

share

Net loss from continuing operations

 

$

(11,235)

 

$

(0.15)

 

$

(5,310)

 

$

(0.07)

 

$

2,858

 

$

0.04

Adjustments:

                                   

Purchase accounting impact on inventory

   

2,869

   

0.04

   

   

   

   

Amortization of intangible assets

   

11,541

   

0.16

   

8,801

   

0.12

   

8,046

   

0.11

Restructuring charges

   

1,462

   

0.02

   

393

   

0.01

   

173

   

0.00

Merger and acquisition costs & costs related to share repurchase

   

11,838

   

0.16

   

6,959

   

0.09

   

3,719

   

0.05

Rebranding and transformation costs

   

(65)

   

(0.00)

   

536

   

0.01

   

619

   

0.01

Indemnification asset release

   

(19)

   

(0.00)

   

   

   

   

Tax adjustments (1)

   

(1,436)

   

(0.02)

   

2,510

   

0.03

   

(4,240)

   

(0.06)

Tax effect of adjustments 

   

(6,000)

   

(0.08)

   

(2,130)

   

(0.03)

   

(2,265)

   

(0.03)

Non-GAAP adjusted net income from continuing operations

 

$

8,954

 

$

0.12

 

$

11,759

 

$

0.16

 

$

8,910

 

$

0.12

   Stock based compensation, pre-tax

   

2,226

   

0.03

   

(49)

   

(0.00)

   

3,458

   

0.05

   Tax rate

   

15

%

 

   

15

%

 

   

15

%

 

Stock-based compensation, net of tax

   

1,892

   

0.03

   

(42)

   

(0.00)

   

2,939

   

0.04

Non-GAAP adjusted net income excluding stock-
based compensation - continuing operations

 

$

10,846

 

$

0.15

 

$

11,717

 

$

0.16

 

$

11,850

 

$

0.16

                                     

Shares used in computing non-GAAP diluted net income per share

   

   

72,543

   

   

75,010

   

   

74,866

 

(1)Tax adjustments during all periods include adjustments to tax benefits related to stock compensation windfalls. These benefits are recognized in the period of vesting for US GAAP but included in the annual effective tax rate for Non-GAAP reporting.   Tax adjustments for the quarter ended December 31, 2022, include a $1.4M increase to expense related to the exclusion of allocations between continuing operations and discontinued operations.

 

                     
   

Quarter Ended

 
   

December 31, 

 

September 30, 

 

December 31, 

 

Dollars in thousands

 

2022

 

2022

 

2021

 

GAAP net (loss) income

 

$

(11,235)

 

$

(20,765)

 

$

43,320

 

Less: Income from discontinued operations

   

   

15,454

   

(40,462)

 

GAAP net (loss) income from continuing operations

   

(11,235)

   

(5,310)

   

2,858

 

Adjustments:

                   

Less: Interest income

   

(10,708)

   

(10,353)

   

(35)

 

Add: Interest expense

   

43

   

478

   

455

 

Add / Less: Income tax provision (benefit)

   

(4,640)

   

1,910

   

(4,680)

 

Add: Depreciation

   

8,640

   

6,087

   

5,208

 

Add: Amortization of completed technology

   

4,168

   

1,901

   

1,773

 

Add: Amortization of customer relationships and acquired intangible assets

   

7,372

   

6,900

   

6,272

 

Earnings before interest, taxes, depreciation and amortization - Continuing operations

 

$

(6,360)

 

$

1,613

 

$

11,852

 

 

                     
   

Quarter Ended

 
   

December 31, 

 

September 30, 

 

December 31, 

 

Dollars in thousands

 

2022

 

2022

 

2021

 

Earnings before interest, taxes, depreciation and amortization - Continuing operations

 

$

(6,360)

 

$

1,613

 

$

11,852

 

Adjustments:

                   

Add: Stock-based compensation

   

2,226

   

(49)

   

3,458

 

Add: Restructuring charges

   

1,462

   

393

   

173

 

Add: Purchase accounting impact on inventory

   

2,869

   

   

 

Add: Merger and acquisition costs & costs related to share repurchase

   

11,838

   

6,959

   

3,719

 

Rebranding and transformation costs

   

(65)

   

536

   

619

 

Adjusted earnings before interest, taxes, depreciation and amortization - Continuing operations

 

$

11,970

 

$

9,452

 

$

19,821

 

 

                                     
   

Quarter Ended

 

Dollars in thousands

 

December 31, 2022

   

September 30, 2022

   

December 31, 2021

 

GAAP gross profit

 

$

73,865

 

41.4

%

 

$

58,117

 

42.2

%

 

$

67,044

 

48.0

%

Adjustments:

                                   

Amortization of completed technology

   

4,168

 

2.3

     

1,901

 

1.4

     

1,773

 

1.3

 

Purchase accounting impact on inventory

   

2,869

 

1.6

     

 

     

 

0.0

 

   Other adjustment

   

 

     

289

 

0.2

     

 

 

Non-GAAP adjusted gross profit

 

$

80,902

 

45.4

%

 

$

60,307

 

43.8

%

 

$

68,817

 

49.3

%

                                     

 

                                                                         
   

 Life Sciences Products

 

Life Sciences Services

   

Quarter Ended

 

Quarter Ended

   

December 31, 

   

September 30, 

   

December 31, 

   

December 31, 

   

September 30, 

   

December 31, 

 

Dollars in thousands

 

2022

   

2022

   

2021

   

2022

   

2022

   

2021

 

GAAP gross profit

 

$

32,981

 

36.8

%

 

$

19,068

 

39.4

%

 

$

22,690

 

45.5

%

 

$

40,885

 

46.1

%

 

$

39,057

 

43.8

%

 

$

44,354

 

49.4

%

Adjustments:

                                                                       

Amortization of
completed technology

   

2,846

 

3.2

     

401

 

0.8

     

203

 

0.4

     

1,322

 

1.5

     

1,500

 

1.7

     

1,570

 

1.7

 

Purchase accounting
impact on inventory

   

2,869

 

3.2

     

 

     

 

     

 

     

 

     

 

 

Other adjustment

   

 

     

 

     

 

     

 

     

289

 

0.3

     

 

 

Non-GAAP adjusted
gross profit

 

$

38,696

 

43.2

%

 

$

19,469

 

40.3

%

 

$

22,893

 

45.9

%

 

$

42,207

 

47.6

%

 

$

40,846

 

45.8

%

 

$

45,924

 

51.2

%

                                                                         

 

                                     
   

 Life Sciences Products

 

Life Sciences Services

   

Quarter Ended

 

Quarter Ended

   

December 31, 

 

September 30, 

 

December 31, 

 

December 31, 

 

September 30, 

 

December 31, 

Dollars in thousands

 

2022

 

2022

 

2021

 

2022

 

2022

 

2021

GAAP operating loss

 

$

(3,798)

 

$

(141)

 

$

4,187

 

$

(4,612)

 

$

12

 

$

6,314

Adjustments:

                                   

Amortization of completed technology

   

2,846

   

401

   

203

   

1,322

   

1,500

   

1,570

Purchase accounting impact on
inventory

   

2,869

   

   

   

   

   

Restructuring related charges

   

   

   

   

   

   

Other adjustment

   

1,413

   

   

   

   

339

   

Tariff adjustment

   

   

   

   

   

   

Non-GAAP adjusted operating profit

 

$

3,330

 

$

260

 

$

4,390

 

$

(3,290)

 

$

1,851

 

$

7,884

 

                                                       
   

Total Segments

 

Corporate

 

Total

   

Quarter Ended

 

Quarter Ended

 

Quarter Ended

   

December 31, 

 

September 30, 

 

December 31, 

 

December 31, 

 

September 30, 

 

December 31, 

 

December 31, 

 

September 30, 

 

December 31, 

Dollars in thousands

 

2022

 

2022

 

2021

 

2022

 

2022

 

2021

 

2022

 

2022

 

2021

GAAP operating profit (loss)

 

$

(8,410)

 

$

(129)

 

$

10,501

 

$

(19,274)

 

$

(14,490)

 

$

(10,826)

 

$

(27,684)

 

$

(14,619)

 

$

(325)

Adjustments:

         

                                         

Amortization of completed
technology

   

4,168

   

1,901

   

1,773

   

   

   

   

4,168

   

1,901

   

1,773

Amortization of customer
relationships and acquired
intangible assets

   

   

   

   

7,372

   

6,900

   

6,272

   

7,372

   

6,900

   

6,272

Purchase accounting impact on
inventory

   

2,869

   

   

   

   

   

   

2,869

   

   

Restructuring charges

   

   

   

   

1,462

   

393

   

173

   

1,462

   

393

   

173

Rebranding and transformation
costs

   

   

   

   

(65)

   

536

   

619

   

(65)

   

536

   

619

Other adjustment

   

1,413

   

339

   

   

(1,413)

   

(339)

   

   

   

   

Merger and acquisition costs &
costs related to share
repurchase

   

   

   

   

11,838

   

6,959

   

3,719

   

11,838

   

6,959

   

3,719

Non-GAAP adjusted operating
profit (loss)

 

$

40

 

$

2,111

 

$

12,274

 

$

(80)

 

$

(41)

 

$

(43)

 

$

(40)

 

$

2,070

 

$

12,231

 

The Company has referenced in the explanation of revenue the estimated impact of COVID. Estimated impact of COVID includes the estimated revenue contribution from products delivered and services rendered to support COVID testing and research, and estimated constraints on the business due to disruptions in customer demand or the Company's ability to deliver in the COVID environment

                                                       
   

Life Sciences Products

 

Life Sciences Services

 

Azenta Total

   

Quarter Ended

 

Quarter Ended

 

Quarter Ended

   

December 31, 

 

December 31, 

       

December 31, 

 

December 31, 

       

December 31, 

 

December 31, 

     

Dollars in millions

 

2022

   

2021

 

Change

 

2022

 

2021

 

Change

 

2022

 

2021

 

Change

 Revenue

 

$

90

 

$

50

 

80

%

 

$

89

 

$

90

 

(1)

%

 

$

178

 

$

140

 

28

%

Acquisitions/divestitures

   

46

   

 

(92)

%

   

   

 

-

%

   

46

   

 

(33)

%

Currency exchange rates

   

(3)

   

 

6

%

   

(3)

   

 

4

%

   

(6)

   

 

4

%

Organic revenue

   

47

   

50

 

(6)

%

   

92

   

90

 

2

%

   

139

   

140

 

(1)

%

Estimated impact of
COVID

   

   

9

 

21

%

   

0

   

2

 

2

%

   

0

   

11

 

8

%

Organic revenue ex
COVID

 

$

47

 

$

41

 

15

%

 

$

92

 

$

88

 

4

%

 

$

138

 

$

129

 

7

%

 

 

Azenta logo (PRNewsfoto/Azenta)

 

SOURCE Azenta

©2024 Azenta, Inc. All rights reserved. | Privacy & Security Policy
Loading data...