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D AZENTA LIFE SCIENCES Fiscal Third Quarter 2026 Financial Results EARNINGS PRESENTATION August 5 , 2026 AZENTA AZENTA
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© 2026 Azenta, Inc. • All rights reserved 2 Safe Harbor Statement Safe Harbor Statement This presentation contains “forward looking statements” forward-looking statements made under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Azenta’s actual financial and business results to differ materially from those expressed or implied by such statements. They are based on the facts and assumptions known to management at the time they are made. Forward looking statements include, but are not limited to, statements regarding the Company’s guidance and outlook for fiscal year 2026, including revenue, organic revenue growth, earnings, Adjusted EBITDA margin and free cash flow expectations; expectations regarding the timing, execution and benefits of operational, commercial and organizational transformation initiatives; anticipated productivity improvements and cost actions; expectations regarding demand trends and end market conditions; statements regarding the Company’s long range plan and multi-year financial targets, including the extension of the long range plan timeline to 2029. Factors that could cause actual results to differ materially from those expressed or implied by forward looking statements include, but are not limited to: the Company’s ability to execute on and realize the expected benefits from its transformation and operational improvement initiatives; changes in customer demand, purchasing behavior or funding conditions in the markets the Company serves; macroeconomic, geopolitical or regulatory developments; the impact of foreign currency fluctuations; the Company’s ability to effectively manage costs, improve productivity and achieve anticipated margin improvements; supply chain disruptions; competitive dynamics; the ability of customers to meet payment obligations; risks relating to the collectability and timely repayment of the $35 million secured vendor loan extended to the buyer in connection with the B Medical Systems divestiture, including the buyer's ability to obtain permanent financing, the sufficiency of the collateral securing the loan, and the potential for an associated charge or impairment; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10 K, Quarterly Reports on Form 10 Q and Current Reports on Form 8 K. Because forward looking statements relate to future events and are based on current expectations, they are inherently subject to significant uncertainties, particularly with respect to projections and assumptions extending over multiple years. As a result, actual outcomes may differ materially from those projected. Regulation G This presentation includes non-GAAP measures: organic revenue and organic revenue growth; non-GAAP gross profit and margin; non-GAAP research and development and selling, general and administrative expenses; non-GAAP operating profit and margin; non-GAAP net income; non-GAAP diluted EPS; EBITDA, Adjusted EBITDA and Adjusted EBITDA margin; and free cash flow. Certain of these measures are also presented on a segment basis. They supplement, and are not a substitute for, GAAP results, and may not be comparable to similarly titled measures of other companies. Management believes they provide additional insight into operating performance and improve period-to-period comparability. Organic revenue excludes foreign exchange and acquisitions and divestitures. Free cash flow is cash flow from operations less capital expenditures. The remaining measures exclude amortization of acquired intangible assets, restructuring and transformation costs, impairment charges, merger and acquisition costs and costs related to share repurchases, certain other items that management does not consider representative of ongoing operations, and the rela ted tax effects. EBITDA and Adjusted EBITDA also exclude interest, income taxes and depreciation, and Adjusted EBITDA further excludes stock-based compensation; the non-GAAP earnings measures do not exclude stock-based compensation. Measures are presented on a continuing operations basis, except free cash flow, which is inclusive of B Medical Systems. Reconciliations to the most directly comparable GAAP measures are included in the appendix and elsewhere in this presentation, and in the earnings release dated August 4, 2026. The Company cannot reconcile its forward-looking organic revenue growth, Adjusted EBITDA and free cash flow guidance to the most directly comparable GAAP measures without unreasonable effort, because the timing and amount of the adjusting items cannot be reasonably predicted; those items may be material. Financial information herein is unaudited and should be read together with that release and the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Certain amounts may not sum due to rounding, and all percentages are calculated using unrounded amounts. These materials are available on the Company’s investor relations website at www.investors.azenta.com.
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© 2026 Azenta, Inc. • All rights reserved 3 Azenta Life Sciences Q3 2026 Financial Overview QUARTER ENDED JUNE 30, 2026 Performance Highlights Q3’26 Revenue • Revenue $161M, up 12% reported and up 9% organic YoY • 8% organic growth in Multiomics with growth in NGS and Gene Synthesis • 9% organic growth in SMS, with strong growth in Sample Repository Solutions and Consumables & Instruments Profitability • Adjusted EBITDA of 11.4%, down 60 bps YoY • Non-GAAP EPS of $0.16 Balance Sheet and Capital Allocation • Free cash flow of <5M> inclusive of B Medical Systems • $529M of cash, cash equivalents and marketable securities available for disciplined and long-term value creating initiatives • Completed the divestiture of B Medical Systems on July 1st • Returned $50M of capital via 2.3M share repurchases RevenueRevenue $161M Up 12% reported Up 9% organic $161M Up 12% reported Up 9% organic Adjusted EBITDA Margin Adjusted EBITDA Margin 11.4% 11.4% $<5M> $<5M> Cash BalanceCash Balance $529M $529M Free Cash FlowFree Cash Flow
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© 2026 Azenta, Inc. • All rights reserved 4 Q3’25 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. Q3 2026 Selected Non-GAAP Financial Measures QUARTER ENDED JUNE 30, 2026 © 2026 Azenta, Inc. • All rights reserved • Multiomics Up 8% • HDD growth in Next Generation Sequencing • LDD growth in Gene Synthesis • Mid-teens decline in Sanger Sequencing Sample Management SolutionsSample Management Solutions MultiomicsMultiomics • Sample Management Solutions Up 9% • Mid-teens growth in Sample Repository Solutions • Mid-teens growth in Consumables and Instruments • $161M Revenue • +12% reported • +9% organic • Gross Margin 46.2% 55% Sample Management Solutions • $88M Revenue • +14% YoY reported • +9% YoY organic • Gross Margin 45.9% 45% Multiomics (GENEWIZ) • $73M Revenue • +10% YoY reported • +8% YoY organic • Gross Margin 46.5% Segment OverviewSegment Overview Note: LDD = Low-double digit, HDD = High-double digit, Organic Revenue
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© 2026 Azenta, Inc. • All rights reserved Summary Consolidated Balance Sheet 5 QUARTER ENDED JUNE 30, 2026 • $529M of cash, cash equivalents, restricted cash and marketable securities, • No debt outstanding • Strong balance sheet for future capital deployment opportunities $ millions Balance SheetBalance Sheet Mar 2026 Jun 2026 QtQ Cash, restricted cash, short term marketable securities 383 328 (55) Accounts receivable, net 131 144 12 Inventories 79 79 1 Other current assets 103 105 2 Current assets held for sale 77 71 (6) Current Assets 773 727 (46) Accounts payable (33) (39) (6) Deferred revenue (39) (36) 3 Other current liabilities (153) (168) (15) Current liabilities held for sale (31) (29) 2 Current Liabilities (257) (273) (15) Net Current Assets 515 454 (61) Long-term marketable securities, restricted cash 182 200 18 Property, plant and equipment 172 172 1 Goodwill and intangible assets 645 633 (11) Net long-term deferred tax assets (liabilities) (15) (15) (0) Other net long-term assets (liabilities) (2) 2 4 Non-current assets held for sale, net 59 64 5 Net assets 1,555 1,510 (45)
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© 2026 Azenta, Inc. • All rights reserved Summary Consolidated Cash Flow 6 QUARTER ENDED JUNE 30, 2026 • $537M cash, cash equivalents, restricted cash and marketable securities, including $8M of cash in current assets held for sale • Cash flow from operations $1M • Free cash flow <$5M> inclusive of B Medical Systems • $19M partial payment received for B Medical Systems sale • <$50M> share repurchases $ millions Cash FlowCash Flow Free cash flow is defined as Cash flow from operations less Capital expenditures Q3'26 Cash, restricted cash and marketable securities - Beginning 574 Net income 2 Non-cash adjustments (5) Depreciation & amortization 14 Stock-based compensation 5 Change in working capital (4) Other operating items (11) Cash flow from operations 1 Capital expenditures (7) Free cash flow (5) Acquisition related, net of cash acquired 19 Share repurchases (50) Net change in cash and marketable securities (37) Cash, restricted cash and marketable securities - Ending 537
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© 2026 Azenta, Inc. • All rights reserved Fiscal Year 2024 Guidance Note: LSD = low-single digit, MSD = mid-single digit, 2026 Guidance May 2026 Comments Revenue Reflects the improved performance in the third quarter while maintaining a prudent outlook given what remains a dynamic demand environment Reported: ~$603M - $621M Organic: Down 2% to up 1% YoY Sample Management Solutions: +LSD Multiomics: Down MSD Adjusted EBITDA Including UKBC: Margin down ~160 bps to down 35 bps YoY ~35 bps of margin dilution from UKBC Including UKBC: Margin down ~160 bps to down 120 bps YoY Equivalent to ~$59M to $62M ~30 bps of margin dilution from UKBC Other Reflects continued working capital discipline Free Cash Flow: ~10% - 15% 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% Reported: ~$613M - $618M Organic: Flat to up 1% YoY Sample Management Solutions: +LSD Multiomics: Down 1% to flat Fiscal Year 2026 Guidance August 2026 Reflects the improved performance in the third quarter and continued investment in commercial initiatives 7
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© 2026 Azenta, Inc. • All rights reserved Appendix
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© 2026 Azenta, Inc. • All rights reserved 9 Q3’25 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. Q3 2026 Selected Non-GAAP Financial Measures QUARTER ENDED JUNE 30, 2026 $ millions © 2026 Azenta, Inc. • All rights reserved $ millions except EPS and percentages • Sample Management Solutions: Up 9% • Multiomics: Up 8% Organic GrowthOrganic GrowthTotal AzentaTotal Azenta YtY%Q3’26Q3’25 12%161144Reported (1%)(1)-FX 11%160-Ex FX (3%)(4)-M&A 9%156144Organic Q3'25 Q3'26 YtY Revenue 144 $ 161 $ 12% Gross profit 69 $ 74 9% % 47.6% 46.2% (1.4) pts. R&D 7 9 19% SG&A 54 61 12% Operating Income 7 5 ($2) % 4.7% 2.9% (1.8) pts. Interest Income (Expense) 5 4 ($1) Other Income (Expense) (1) 1 $2 Tax Benefit (Provision) (3) (3) $1 Net Income - continuing ops 7.7 $ 7.2 $ ($1) % 5.4% 4.4% (0.9) pts. Continuing Ops - Diluted EPS $0.17 $0.16 ($0.01) Adjusted EBITDA 17 $ 18 $ $1 % 12.1% 11.4% (0.6) pts. Non-GAAP
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© 2026 Azenta, Inc. • All rights reserved GAAP to Non-GAAP Reconciliation 10 $ millions except percentages Continuing Operations 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. Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Revenue 147.4 143.3 143.9 159.2 593.8 148.6 144.8 161.2 GAAP gross profit 68.8 62.8 66.4 72.3 270.3 63.7 62.0 72.4 Gross profit margin 46.7% 43.8% 46.2% 45.4% 45.5% 42.9% 42.8% 44.9% Amortization expense 1.5 2.3 2.1 2.1 8.0 1.9 2.1 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 74.4 Non-GAAP gross profit margin 47.7% 45.4% 47.6% 46.7% 46.9% 44.1% 44.3% 46.2% GAAP Research and development (7.1) (7.6) (7.4) (8.3) (30.4) (9.2) (9.4) (8.9) GAAP Selling, general and administrative (70.0) (69.8) (60.1) (61.7) (261.6) (60.6) (217.0) (67.2) Merger and acquisition costs and costs related to share repurchase (2) 1.6 0.7 0.1 0.1 2.4 0.0 2.2 2.2 Amortization expense 4.6 3.8 4.1 4.0 16.5 3.6 3.6 3.6 P u r c h a s e a c c o u n t i n g a d j u s t m e n t s - - - - - - - 0 . 2 I m p a i r m e n t o f g o o d w i l l a n d i n t a n g i b l e a s s e t s ( 3 ) - - - - - - 1 4 9 . 1 - Transformation (1) 3.0 5.2 1.5 0.6 10.4 1.2 0.4 0.3 Non-GAAP Selling, general and administrative (60.8) (60.1) (54.4) (57.0) (232.3) (55.8) (61.7) (60.9) Restructuring charges (0.4) (3.6) (0.8) (0.4) (5.2) (1.1) (1.4) (0.5) GAAP operating profit (loss) (8.7) (18.2) (1.8) 1.9 (26.8) (7.2) (165.8) (4.2) Operating profit margin (5.9%) (12.7%) (1.3%) 1.2% (4.5%) (4.9%) (114.5%) (2.6%) Non-GAAP operating profit 2.4 (2.6) 6.7 9.1 15.6 0.5 (7.0) 4.7 Non-GAAP operating profit margin 1.6% (1.8%) 4.7% 5.7% 2.6% 0.4% (4.8%) 2.9% GAAP net income (loss) (7.1) (19.8) (0.3) 51.7 24.5 (5.2) (157.0) (1.5) Merger and acquisition costs and costs related to share repurchase (2) 1.6 0.7 0.1 0.1 2.4 0.0 2.2 2.2 Amortization expense 6.1 6.1 6.2 6.1 24.4 5.4 5.6 5.7 Restructuring charges 0.4 3.6 0.8 0.4 5.2 1.1 1.4 0.5 Transformation (1) 3.0 5.2 1.5 0.6 10.4 1.2 0.4 0.3 I m p a i r m e n t o f g o o d w i l l a n d i n t a n g i b l e a s s e t s ( 3 ) - - - - - - 1 4 9 . 1 - Non-recurring other adjustments 0.0 (2.1) - - (2.1) 0.0 (3.9) - P u r c h a s e a c c o u n t i n g a d j u s t m e n t s - - - - - - - 0 . 2 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 (0.2) Non-GAAP net income 5.5 0.6 7.7 9.6 23.4 4.2 (1.8) 7.2 GAAP Diluted earnings per share ($0.16) ($0.43) ($0.01) $1.12 $0.53 ($0.11) ($3.41) ($0.03) Non-GAAP diluted earnings per share $0.12 $0.01 $0.17 $0.21 $0.51 $0.09 ($0.04) $0.16 3) 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. 2) Merger and acquisition costs consist primarily of legal, accounting, valuation, and strategic advisory fees incurred in connection with acquisition and integration activities. 1) Transformation costs represent expenses associated with discrete strategic initiatives undertaken to simplify, standardize, streamline, and optimize the Company's operations, processes, and systems. These initiatives are intended to generate long-term operational efficiencies and productivity improvements and do not meet the definition of restructuring charges. Transformation costs primarily include asset write-downs associated with technology changes, inventory write-downs related to restructuring activities, and third-party consulting costs incurred to support process and systems redesign efforts.
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© 2026 Azenta, Inc. • All rights reserved GAAP to Non-GAAP Reconciliation 11 $ millions except percentages CONTINUING OPERATIONS - SEGMENTS 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. Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Multiomics Revenue 66.3 63.5 66.2 73.2 269.2 67.2 63.7 72.9 Gross profit 29.7 26.6 26.2 31.1 113.6 27.9 25.0 33.2 Gross profit margin 44.8% 41.9% 39.6% 42.5% 42.2% 41.5% 39.2% 45.6% Amortization expense 0.9 0.9 0.9 0.9 3.4 0.7 0.7 0.7 Non-GAAP gross profit 30.5 27.5 27.1 32.0 117.1 28.6 25.6 33.9 Non-GAAP gross profit margin 46.1% 43.3% 40.9% 43.7% 43.5% 42.6% 40.2% 46.5% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Q1 FY26 Q2 FY26 Q3 FY26 SMS Revenue 81.1 79.8 77.6 86.0 324.6 81.4 81.1 88.3 GAAP gross profit 39.1 36.1 40.2 41.2 156.6 35.8 37.1 39.1 Gross profit margin 48.2% 45.3% 51.8% 47.9% 48.3% 43.9% 45.7% 44.3% Transformation (1) 0.1 0.0 - - 0.1 - - - Amortization expense 0.6 1.4 1.2 1.2 4.5 1.2 1.4 1.4 Non-GAAP gross profit 39.8 37.6 41.4 42.4 161.2 37.0 38.5 40.5 Non-GAAP gross profit margin 49.1% 47.1% 53.4% 49.3% 49.7% 45.4% 47.4% 45.9% 1) Transformation costs represent expenses associated with discrete strategic initiatives undertaken to simplify, standardize, streamline, and optimize the Company's operations, processes, and systems. These initiatives are intended to generate long-term operational efficiencies and productivity improvements and do not meet the definition of restructuring charges. Transformation costs primarily include asset write-downs associated with technology changes, inventory write-downs related to restructuring activities, and third-party consulting costs incurred to support process and systems redesign efforts.
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© 2026 Azenta, Inc. • All rights reserved 12 $ millions except percentages Net Income to Adjusted EBITDA Reconciliation CONTINUING OPERATIONS 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. Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Net income (11.0) (47.7) (48.0) 50.9 (55.8) (15.4) (160.8) 2.5 (Income) Loss from discontinued operations, net of tax 3.9 27.9 47.7 0.8 80.2 10.2 3.8 (4.0) Net income (Loss) from continuing operations (7.1) (19.8) (0.3) 51.7 24.5 (5.2) (157.0) (1.5) Adjustments: Interest income (4.3) (4.5) (5.0) (5.0) (18.8) (5.1) (4.4) (3.8) Income tax provision 3.9 7.2 2.6 (45.4) (31.6) 3.1 (0.3) 2.4 Depreciation 7.5 7.8 8.4 8.3 32.0 8.2 8.3 7.9 Amortization of intangible assets 6.1 6.1 6.2 6.1 24.4 5.4 5.6 5.7 EBITDA - from Continuing Operations 6.1 (3.1) 11.9 15.7 30.6 6.5 (147.8) 10.6 Adjustments: Stock-based compensation 4.9 8.0 3.0 3.9 19.8 3.9 6.3 4.7 Transformation (1) 3.0 5.2 1.5 0.6 10.4 1.2 0.4 0.3 Merger and acquisition costs and costs related to share repurchase (2) 1.6 0.7 0.1 0.1 2.4 0.0 2.2 2.2 I m p a i r m e n t o f g o o d w i l l a n d i n t a n g i b l e a s s e t s ( 3 ) - - - - - - 1 4 9 . 1 - Non-recurring other adjustments 0.0 (2.1) 0.0 - (2.1) 0.0 (3.9) - P u r c h a s e a c c o u n t i n g a d j u s t m e n t s - - - - - - - 0 . 2 Restructuring charges 0.4 3.6 0.8 0.4 5.2 1.1 1.4 0.5 Adjusted EBITDA - from Continuing Operations 16.0 12.2 17.4 20.7 66.3 12.7 7.8 18.5 Adjusted EBITDA margin 10.8% 8.5% 12.1% 13.0% 11.2% 8.5% 5.4% 11.4% 1) Transformation costs represent expenses associated with discrete strategic initiatives undertaken to simplify, standardize, streamline, and optimize the Company's operations, processes, and systems. These initiatives are intended to generate long-term operational efficiencies and productivity improvements and do not meet the definition of restructuring charges. Transformation costs primarily include asset write-downs associated with technology changes, inventory write-downs related to restructuring activities, and third-party consulting costs incurred to support process and systems redesign efforts. 3) 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. 2) Merger and acquisition costs consist primarily of legal, accounting, valuation, and strategic advisory fees incurred in connection with acquisition and integration activities.
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© 2026 Azenta, Inc. • All rights reserved 13 Calculation of Non-GAAP Organic Revenue CONTINUING OPERATIONS 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. Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Q1 FY26 Q2 FY26 Q3 FY26 R e v e n u e 4 %5 % ( 0 % )6 %4 %1 %1 % 1 2 % A c q u i s i t i o n s / d i v e s t i t u r e s 0 %0 %0 %0 %0 %0 % ( 1 % ) ( 3 % ) Currency exchange rates (0%) 1% (2%) (2%) (1%) (2%) (3%) (1%) Organic revenue 3% 6% (2%) 4% 3% (1%) (3%) 9% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Q1 FY26 Q2 FY26 Q3 FY26 SMS R e v e n u e 2 %8 % ( 4 % )2 %2 %0 %2 % 1 4 % A c q u i s i t i o n s / d i v e s t i t u r e s 0 %0 %0 %0 %0 %0 % ( 2 % ) ( 5 % ) Currency exchange rates (1%) 1% (2%) (2%) (1%) (2%) (3%) (0%) Organic revenue 2% 8% (6%) (0%) 1% (2%) (3%) 9% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Multiomics Revenue 6% 2% 4% 11% 6% 1% 0% 10% A c q u i s i t i o n s / d i v e s t i t u r e s 0 %0 %0 %0 %0 %0 %0 %0 % Currency exchange rates (0%) 1% (1%) (1%) (0%) (1%) (3%) (2%) Organic revenue 6% 3% 3% 10% 5% (0%) (2%) 8%