Azenta Reports Second Quarter Results for Fiscal 2026, Ended March 31, 2026, Updates Full Year Fiscal 2026 Guidance, and Extends Long-Range Plan to 2029

Azenta Reports Second Quarter Results for Fiscal 2026, Ended March 31, 2026, Updates Full Year Fiscal 2026 Guidance, and Extends Long-Range Plan to 2029 BURLINGTON, Mass., May 5, 2026 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today reported financial results for the second quarter ended March 31, 2026.

The results of B Medical Systems are treated as discontinued operations and reflected in total diluted EPS, following the

Company's announcement in the first fiscal quarter of 2025 of its intention to pursue a sale and the entry into a definitive

agreement to sell the business.

Quarter Ended

Dollars in millions, except per share data

March 31,

December 31,

March 31,

Change

2026

2025

2025 (1)

Prior Qtr

Prior Yr.

Revenue from Continuing Operations

$ 145

$ 149

$ 143

(3) %

1 %

Organic growth

(3) %

Sample Management Solutions

$ 81

$ 80

(0) %

2 %

Multiomics

$ 64

$ 67

$ 64

(5) %

0 %

Diluted EPS Continuing Operations

$ (3.41)

$ (0.11)

$ (0.43)

Diluted EPS Total

$ (3.49)

$ (0.34)

$ (1.04)

Non-GAAP Diluted EPS Continuing Operations

$ (0.04)

$ 0.09

$ 0.01

Adjusted EBITDA - Continuing Operations

$ 8

$ 13

$ 12

(39) %

(36) %

Adjusted EBITDA Margin - Continuing Operations

5.4 %

8.5 %

(1) 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.

Management Comments

"Our second quarter results fell short of our expectations, reflecting both execution gaps and a more cautious demand environment, particularly in North America," said John Marotta, President and CEO of Azenta Life Sciences. "As a result, we have revised our fiscal 2026 outlook and taken decisive actions to strengthen execution, reinforce operational discipline, and improve visibility across the business. At the same time, we saw areas of resilience, including continued growth in Sample Repository Solutions and Consumables and Instruments, reinforcing the strength of our recurring revenue offerings.

In 2026, our priority is the transformation of our Multiomics business, with a focus on strengthening commercial execution, optimizing our operating footprint, and improving productivity through Azenta Business System. We have strengthened leadership and are increasing operational rigor to drive greater accountability and consistency across the organization.

Given the updated 2026 outlook, we are extending the timeline of our long‑range plan targets from 2028 to 2029. This reflects a disciplined and prudent approach to execution in the current environment and, while postponing achievement of the financial targets, does not change our confidence in our strategy. While near‑term conditions remain measured, we continue to see a compelling long‑term market opportunity and believe the actions underway position Azenta for improved execution, greater consistency, and profitable long‑term value creation."

Second Quarter Fiscal 2026 Results - Continuing Operations

Summary of GAAP Earnings Results - Continuing Operations

Summary of Non-GAAP Earnings Results - Continuing Operations

Cash and Liquidity as of March 31, 2026

Share Repurchase Program Update

Updated Fiscal 2026 Guidance – Continuing Operations

Long-Range Plan Update

Sale of B Medical Systems

Azenta does not provide forward-looking guidance on a GAAP basis for the measures on which it provides forward-looking non-GAAP guidance as the Company is unable to provide a quantitative reconciliation of forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP measure, without unreasonable effort, because of the inherent difficulty in accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliations that have not yet occurred, are dependent on various factors, are out of the company's control, or cannot be reasonably predicted. Such adjustments include, but are not limited to, transformation costs, restructuring charges, costs related to acquisitions and divestitures costs, governance-related matters, goodwill and intangible impairments, stock-based compensation, and other gains and charges that are not representative of the normal operations of the business.

Conference Call and Webcast

Azenta management will webcast its second quarter fiscal 2026 earnings conference call on May 06, 2026 at 8:30 a.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 and supplemental information referenced on the call, will be hosted at the Investor Relations section of Azenta's website at https://investors.azenta.com/events. The supplemental information is being posted at the time of this earnings release, and the presentation materials will be posted ahead of the earnings call. A replay of the webcast will be archived on the website for convenient on-demand access.

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 and statements of operations. Certain amounts in the tables that supplement the consolidated financial statements may not sum due to rounding. All percentages are calculated using unrounded amounts.

"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 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; uncertainty regarding the timing or completion of the B Medical Systems divestiture; 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.

Azenta expressly disclaims any obligation or undertaking to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Azenta Life Sciences

Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions worldwide, enabling life science organizations around the world to bring impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and multiomics 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. Our global team delivers and supports these products and services through our industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, and Barkey.

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:

Yvonne Perron

Vice President, Financial Planning & Analysis and Investor Relations

[email protected]

Maria Isabel Cuartas

Manager Investor Relations

[email protected]

AZENTA, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

(In thousands, except per share data)

Three Months Ended

March 31,

Six Months Ended

March 31,

2026

2025

2026

2025

Revenue

Products

$ 37,642

$ 41,955

$ 78,726

$ 85,782

Services

107,153

101,383

214,711

204,992

Total revenue

144,795

143,338

293,437

290,774

Cost of revenue

Products

22,122

24,994

46,871

49,035

Services

60,638

55,561

120,825

110,137

Total cost of revenue

82,760

80,555

167,696

159,172

Gross profit

62,035

62,783

125,741

131,602

Operating expenses

Research and development

9,433

7,602

18,622

14,715

Selling, general and administrative

67,887

69,795

128,498

139,771

Impairment of goodwill and intangible assets

149,083

—

149,083

—

Restructuring charges

1,422

3,580

2,565

4,011

Total operating expenses

227,825

80,977

298,768

158,497

Operating loss

(165,790)

(18,194)

(173,027)

(26,895)

Other income

Interest income, net

4,387

4,489

9,485

8,787

Other income, net

4,059

1,158

4,138

2,362

Loss from continuing operations before

income taxes

(157,344)

(12,547)

(159,404)

(15,746)

Income tax (benefit) expense

(323)

7,243

2,807

11,117

Loss from continuing operations

(157,021)

(19,790)

(162,211)

(26,863)

Loss from discontinued operations, net of tax

(3,777)

(27,871)

(14,019)

(31,790)

Net loss

$ (160,798)

$ (47,661)

$ (176,230)

$ (58,653)

Basic net loss per share:

Loss from continuing operations

$ (3.41)

$ (0.43)

$ (3.53)

$ (0.59)

Loss from discontinued operations, net of tax

$ (0.08)

$ (0.61)

$ (0.30)

$ (0.70)

Basic net loss per share

$ (3.49)

$ (1.04)

$ (3.83)

$ (1.29)

Diluted net loss per share:

Loss from continuing operations

$ (3.41)

$ (0.43)

$ (3.53)

$ (0.59)

Loss from discontinued operations, net of tax

$ (0.08)

$ (0.61)

$ (0.30)

$ (0.70)

Diluted net loss per share

$ (3.49)

$ (1.04)

$ (3.83)

$ (1.29)

Weighted average shares used in computing net

loss per share:

Basic

46,063

45,732

45,995

45,658

Diluted

46,063

45,732

45,995

45,658

AZENTA, INC.

CONSOLIDATED BALANCE SHEETS

(unaudited)

(In thousands, except share and per share data)

March 31,

September 30,

Assets

Current assets

Cash and cash equivalents

$ 234,033

$ 279,783

Short-term marketable securities

146,484

61,137

Accounts receivable, net of allowance for expected credit losses ($4,481and $4,649,

respectively)

131,318

142,181

Inventories

78,510

74,956

Short-term restricted cash

2,410

2,359

Refundable income taxes

6,838

9,728

Prepaid expenses and other current assets

50,214

64,660

Current assets held for sale

77,178

73,535

Total current assets

726,985

708,339

Property, plant and equipment, net

171,832

153,954

Long-term marketable securities

177,831

201,585

Long-term deferred tax assets

501

726

Operating lease right-of-use assets

59,451

54,048

Goodwill

552,396

702,395

Intangible assets, net

92,107

101,814

Long-term income taxes receivable

45,600

Other assets

8,814

6,115

Noncurrent assets held for sale

68,372

85,006

Total assets

$ 1,903,889

$ 2,059,582

Liabilities and stockholders' equity

Current liabilities

Accounts payable

$ 33,136

$ 37,722

Deferred revenue

39,013

31,569

Derivative liability

29,615

33,420

Accrued warranty and retrofit costs

4,157

4,713

Accrued compensation and benefits

29,146

35,799

Accrued customer deposits

36,217

26,499

Accrued income taxes payable

8,753

9,416

Accrued expenses and other current liabilities

45,739

30,268

Current liabilities held for sale

31,416

28,268

Total current liabilities

257,192

237,674

Long-term deferred tax liabilities

15,747

18,245

Long-term operating lease liabilities

55,711

51,244

Other long-term liabilities

10,892

11,142

Noncurrent liabilities held for sale

9,670

14,291

Total liabilities

349,212

332,596

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, 59,553,293 shares issued and

46,091,424 shares outstanding at March 31, 2026; 59,320,848 shares issued and 45,858,979

shares outstanding at September 30, 2025

596

594

Additional paid-in capital

538,782

529,605

Accumulated other comprehensive loss

(27,471)

(22,213)

Treasury stock, at cost - 13,461,869 shares at March 31, 2026 and September 30, 2025

(200,956)

Retained earnings

1,243,726

1,419,956

Total stockholders' equity

1,554,677

1,726,986

Total liabilities and stockholders' equity

$ 1,903,889

$ 2,059,582

AZENTA, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

(In thousands)

Six Months Ended March 31,

2026

2025

Cash flows from operating activities

Net loss

$ (176,230)

$ (58,653)

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation and amortization

27,650

32,053

Impairment of goodwill and intangible assets

149,083

—

Non-cash gain from settlement of preexisting contractual relationship

(3,858)

—

Loss on assets held for sale

15,965

31,848

Inventory write-downs and other asset write-offs

1,883

4,326

Stock-based compensation

10,420

13,453

Amortization and accretion on marketable securities

(682)

(983)

Deferred income taxes

(5,298)

(4,183)

Loss (gain) on disposals of property, plant and equipment

(7)

Changes in operating assets and liabilities:

Accounts receivable

8,541

6,713

Inventories

(6,700)

(5,780)

Accounts payable

(4,380)

1,981

Deferred revenue

7,141

12,042

Accrued warranty and retrofit costs

(122)

343

Accrued compensation and tax withholdings

(6,245)

(1,956)

Accrued restructuring costs

506

1,547

Other assets and liabilities

15,338

11,457

Net cash provided by operating activities

33,031

44,201

Cash flows from investing activities

Purchases of property, plant and equipment

(13,595)

(15,158)

Purchases of marketable securities

(328,835)

(236,237)

Sales and maturities of marketable securities

266,470

184,636

Acquisition of UK Biocentre, net of cash acquired

(9,688)

—

Proceeds from other investment

—

2,130

Net investment hedge settlement

—

3,043

Deposit received for the sale of B Medical Systems business

9,000

—

Net cash used in investing activities

(76,648)

(61,586)

Cash flows from financing activities

Proceeds from issuance of common stock

1,179

1,553

Payments of finance leases

(411)

(457)

Withholding tax payments on net share settlements on equity awards

(2,420)

—

Excise tax payment for settled share repurchases

—

(11,376)

Net cash used in financing activities

(1,652)

(10,280)

Effects of exchange rate changes on cash, cash equivalents and restricted cash

(2,128)

(4,459)

Net decrease in cash, cash equivalents and restricted cash

(47,397)

(32,124)

Cash, cash equivalents and restricted cash, beginning of period

296,685

320,990

Cash, cash equivalents and restricted cash, end of period

$ 249,288

$ 288,866

Supplemental disclosures:

Cash paid / (received) for income taxes, net

$ 3,466

$ (4,594)

Purchases of property, plant and equipment included in accounts payable and

accrued expenses

$ 5,296

$ 5,773

Reconciliation of cash, cash equivalents and restricted cash to the condensed

consolidated balance sheets

March 31,

2026

September 30,

2025

Cash and cash equivalents of continuing operations

$ 234,033

$ 279,783

Cash included in current assets held for sale

8,763

13,206

Short-term restricted cash

2,410

2,359

Long-term restricted cash included in other assets

4,082

1,337

Total cash, cash equivalents and restricted cash shown in the condensed

consolidated statements of cash flows

$ 249,288

$ 296,685

Notes on Non-GAAP Financial Measures - Continuing Operations

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, non-recurring costs related to the Company's business transformation initiatives and share repurchases 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

March 31, 2026

December 31, 2025

March 31, 2025 (*)

Amounts in thousands, except

per share data

per

diluted

per

diluted

per

diluted

Net loss from continuing

operations

$ (157,021)

$ (3.41)

$ (5,190)

$ (0.11)

$ (19,790)

$ (0.43)

Adjustments:

Amortization of completed

technology

2,076

0.05

1,860

0.04

2,308

0.05

Amortization of other

intangible assets

3,563

0.08

3,551

0.08

3,803

0.08

Transformation costs (1)

440

0.01

1,202

0.03

5,183

0.11

Restructuring charges

1,422

0.03

1,143

0.02

3,580

0.08

Impairment of goodwill and

intangible assets (2)

149,083

3.24

—

Merger and acquisition costs (3)

2,175

0.05

0.00

688

0.02

Non-recurring other income (4)

(3,858)

(0.08)

—

(2,130)

(0.05)

Tax adjustments (5)

—

6,900

0.15

Tax effect of adjustments

331

0.01

1,570

0.03

0.00

Other adjustments

0.00

(17)

0.00

Non-GAAP adjusted net

income (loss) from

continuing operations

$ (1,776)

$ (0.04)

$ 4,162

$ 0.09

$ 623

$ 0.01

Stock-based compensation,

pre-tax

6,268

0.14

3,862

0.08

8,031

0.18

Tax rate

13 %

—

13 %

—

17 %

—

Stock-based compensation,

net of tax

5,453

0.12

3,360

0.07

6,690

0.15

Non-GAAP adjusted net income

excluding stock-based

compensation - continuing

operations

$ 3,677

$ 0.08

$ 7,522

$ 0.16

$ 7,313

$ 0.16

Shares used in computing

non-GAAP diluted net income

per share

46,063

45,929

45,732

Six Months Ended

March 31, 2026

March 31, 2025 (*)

Amounts in thousands, except per share data

per

diluted

per

diluted

Net loss from continuing operations

$ (162,211)

$ (3.53)

$ (26,863)

$ (0.59)

Adjustments:

Amortization of completed technology

3,935

0.09

3,808

0.08

Amortization of other intangible assets

7,113

0.15

8,376

0.18

Transformation costs (1)

1,642

0.04

8,229

0.18

Restructuring charges

2,565

0.06

4,011

0.09

Impairment of goodwill and intangible assets (2)

149,083

3.24

—

Merger and acquisition costs (3)

2,188

0.05

2,258

0.05

Non-recurring other income (4)

(3,858)

(0.08)

(2,130)

(0.05)

Tax adjustments (5)

—

7,300

0.16

Tax effect of adjustments

1,901

0.04

1,106

0.02

Other adjustments

0.00

(9)

0.00

Non-GAAP adjusted net income from continuing

operations

$ 2,384

$ 0.05

$ 6,086

$ 0.13

Stock-based compensation, pre-tax

10,130

0.22

12,904

0.28

Tax rate

13 %

—

17 %

—

Stock-based compensation, net of tax

8,813

0.19

10,710

0.23

Non-GAAP adjusted net income excluding stock-based

compensation - continuing operations

$ 11,197

$ 0.24

$ 16,796

$ 0.37

Shares used in computing non-GAAP diluted net

income per share

45,995

45,658

(*)

See footnote (1) on Page 1.

(1)

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. These costs are directed at simplifying, standardizing, streamlining, and optimizing the Company's operations, processes and systems to permanently alter the Company's operations for the long term. For a project to be considered transformational, successful completion of the project must be expected to bring long-term material benefits to the organization and involve significant changes to process and/or underlying technology. Transformation costs primarily relate to one time asset write downs associated with changes in technology, one time inventory write downs relating to restructuring actions, and third-party consulting costs associated with process and systems re-design.

(2)

Represents a non-cash goodwill impairment charge recognized in the second quarter of fiscal 2026 as a result of the Company's quantitative goodwill impairment analysis as of March 31, 2026, including $112.4 million for the Multiomics reporting unit and $36.6 million for the Sample Management Solutions reporting unit.

(3)

Includes expenses related to governance-related matters.

(4)

The Company recognized $3.9 million non-cash gain from the settlement of the pre-existing contractual relationship with UK Biocentre Limited in the second quarter of fiscal 2026. The Company received $2.1 million of cash proceeds from a cost method investment which had no cost basis in the second quarter of fiscal 2025. These are non-recurring and non-operational gains.

(5)

Tax adjustments for the three and six months ended March 31, 2025 are primarily driven by $6.4 million of tax expenses related to a one-time repatriation of historical earnings from China.

Quarter Ended

Six Months Ended

Dollars in thousands

March 31,

2026

December 31,

2025

March 31,

2025 (*)

March 31,

2026

March 31,

2025 (*)

GAAP net loss

$ (160,798)

$ (15,432)

$ (47,661)

$ (176,230)

$ (58,653)

Less: Loss from discontinued operations

(3,777)

(10,242)

(27,871)

(14,019)

(31,790)

GAAP net loss from continuing operations

(157,021)

(5,190)

(19,790)

(162,211)

(26,863)

Adjustments:

Interest income, net

(4,387)

(5,098)

(4,489)

(9,485)

(8,787)

Income tax expense

(323)

3,130

7,243

2,807

11,117

Depreciation

8,338

8,207

7,818

16,545

15,297

Amortization of completed technology

2,076

1,860

2,308

3,935

3,808

Amortization of other intangible assets

3,563

3,551

3,803

7,113

8,376

Earnings before interest, taxes, depreciation

and amortization - Continuing operations

$ (147,754)

$ 6,460

$ (3,107)

$ (141,296)

$ 2,948

Quarter Ended

Six Months Ended

Dollars in thousands

March 31,

2026

December 31,

2025

March 31,

2025 (*)

March 31,

2026

March 31,

2025 (*)

Earnings before interest, taxes, depreciation

and amortization - Continuing operations

$ (147,754)

$ 6,460

$ (3,107)

$ (141,296)

$ 2,948

Adjustments:

Stock-based compensation

6,268

3,862

8,031

10,130

12,904

Restructuring charges

1,422

1,143

3,580

2,565

4,011

Impairment of goodwill and intangible

assets (1)

149,083

—

149,083

—

Merger and acquisition costs (2)

2,175

1,202

688

2,188

2,258

Transformation costs (3)

440

5,183

1,642

8,229

Non-recurring other income (4)

(3,858)

—

(2,130)

(3,858)

(2,130)

Adjusted earnings before interest, taxes,

depreciation and amortization - Continuing

operations

$ 7,776

$ 12,692

$ 12,245

$ 20,454

$ 28,220

(*)

See footnote (1) on Page 1.

(1)

(2)

Includes expenses related to governance-related matters.

(3)

(4)

Quarter Ended

Dollars in thousands

March 31, 2026

December 31, 2025

March 31, 2025 (*)

GAAP gross profit

$ 62,035

42.8 %

$ 63,706

42.9 %

$ 62,783

43.8 %

Adjustments:

Amortization of completed

technology

2,076

1.4 %

1,860

1.3 %

2,308

1.6 %

Other Adjustments

—

— %

—

— %

(9)

(0.0 %)

Non-GAAP adjusted gross profit

$ 64,111

44.3 %

$ 65,566

44.1 %

$ 65,082

45.4 %

Six Months Ended

Dollars in thousands

March 31, 2026

March 31, 2025 (*)

GAAP gross profit

$ 125,741

42.9 %

$ 131,602

45.3 %

Adjustments:

Amortization of completed technology

3,935

1.3 %

3,808

1.3 %

Transformation costs (1)

—

— %

0.0 %

Non-GAAP adjusted gross profit

$ 129,676

44.2 %

$ 135,462

46.6 %

(*)

See footnote (1) on Page 1.

(1)

Sample Management Solutions

Multiomics

Quarter Ended

Dollars in thousands

March 31,

2026

December 31,

2025

March 31,

2025 (*)

March 31,

2026

December 31,

2025

March 31,

2025 (*)

GAAP gross profit

$ 37,084

45.7 %

$ 35,785

43.9 %

$ 36,147

45.3 %

$ 24,951

39.2 %

$ 27,921

41.5 %

$ 26,636

41.9 %

Adjustments:

Amortization of

completed technology

1,389

1.7 %

1,177

1.4 %

1,449

1.8 %

687

1.1 %

683

1.0 %

859

1.4 %

Other Adjustments

—

— %

—

— %

(9)

(0.0 %)

—

— %

—

— %

—

— %

Non-GAAP adjusted

gross profit

$ 38,473

47.4 %

$ 36,962

45.4 %

$ 37,587

47.1 %

$ 25,638

40.2 %

$ 28,604

42.6 %

$ 27,495

43.3 %

Segment Total

Quarter Ended

Dollars in thousands

March 31,

2026

December 31,

2025

March 31,

2025 (*)

GAAP gross profit

$ 62,035

42.8 %

$ 63,706

42.9 %

$ 62,783

43.8 %

Adjustments:

Amortization of

completed

technology

2,076

1.4 %

1,860

1.3 %

2,308

1.6 %

Other Adjustments

—

— %

—

— %

(9)

(0.0 %)

Non-GAAP adjusted

gross profit

$ 64,111

44.3 %

$ 65,566

44.1 %

$ 65,082

45.4 %

Sample Management Solutions

Multiomics

Six Months Ended

Dollars in thousands

March 31, 2026

March 31, 2025 (*)

March 31, 2026

March 31, 2025 (*)

GAAP gross profit

$ 72,867

44.8 %

$ 75,290

46.8 %

$ 52,874

40.4 %

$ 56,312

43.4 %

Adjustments:

Amortization of completed

technology

2,565

1.6 %

2,088

1.3 %

1,370

1.0 %

1,720

1.3 %

Transformation costs (1)

—

— %

0.0 %

—

— %

—

— %

Non-GAAP adjusted gross profit

$ 75,432

46.4 %

$ 77,430

48.1 %

$ 54,244

41.4 %

$ 58,032

44.7 %

Segment Total

Six Months Ended

Dollars in thousands

March 31, 2026

March 31, 2025 (*)

GAAP gross profit

$ 125,741

42.9 %

$ 131,602

45.3 %

Adjustments:

Amortization of completed technology

3,935

1.3 %

3,808

1.3 %

Transformation costs (1)

—

— %

0.0 %

Non-GAAP adjusted gross profit

$ 129,676

44.2 %

$ 135,462

46.6 %

(*)

See footnote (1) on Page 1.

(1)

Sample Management Solutions

Multiomics

Quarter Ended

Dollars in thousands

March 31,

2026

December 31,

2025

March 31,

2025 (*)

March 31,

2026

December 31,

2025

March 31,

2025 (*)

GAAP operating income (loss)

$ 1,668

$ 3,731

$ (1,236)

$ (10,759)

$ (5,044)

$ (6,372)

Adjustments:

Amortization of completed technology

1,389

1,177

1,449

687

683

859

Transformation costs (1)

2,606

—

Other adjustments

(10)

—

(23)

Non-GAAP adjusted operating income

(loss)

$ 3,115

$ 4,977

$ 2,809

$ (10,067)

$ (4,361)

$ (5,536)

Total Segments

Corporate

Total

Quarter Ended

Dollars in thousands

March

31,

2026

December

31,

2025

March

31,

2025 (*)

March

31,

2026

December

31,

2025

March

31,

2025 (*)

March

31,

2026

December

31,

2025

March

31,

2025 (*)

GAAP operating loss

$ (9,091)

$ (1,313)

$ (7,608)

$ (156,699)

$ (5,924)

$ (10,586)

$ (165,790)

$ (7,237)

$ (18,194)

Adjustments:

Amortization of

completed technology

2,076

1,860

2,308

—

2,076

1,860

2,308

Amortization of other

intangible assets

—

3,563

3,551

3,803

3,563

3,551

3,803

Transformation costs (1)

2,606

385

1,145

2,577

440

1,202

5,183

Restructuring charges

—

1,422

1,143

3,580

1,422

1,143

3,580

Impairment of goodwill

and intangible assets (2)

—

149,083

—

149,083

—

Merger and acquisition

costs (3)

—

2,175

688

2,175

688

Other adjustments

(33)

—

(33)

Non-GAAP adjusted

operating income (loss)

$ (6,952)

$ 616

$ (2,727)

$ (71)

$ (72)

$ 62

$ (7,023)

$ 544

$ (2,665)

Sample Management Solutions

Multiomics

Six Months Ended

Dollars in thousands

March 31,

2026

March 31,

2025 (*)

March 31,

2026

March 31,

2025 (*)

GAAP operating income (loss)

$ 5,398

$ 2,786

$ (15,802)

$ (9,566)

Adjustments:

Amortization of completed technology

2,565

2,088

1,370

1,720

Transformation costs (1)

112

2,709

—

Other adjustments

(3)

Non-GAAP adjusted operating income

(loss)

$ 8,092

$ 7,580

$ (14,427)

$ (7,843)

Total Segments

Corporate

Total

Six Months Ended

Dollars in thousands

March 31,

2026

March 31,

2025 (*)

March 31,

2026

March 31,

2025 (*)

March 31,

2026

March 31,

2025 (*)

GAAP operating loss

$ (10,404)

$ (6,780)

$ (162,623)

$ (20,115)

$ (173,027)

$ (26,895)

Adjustments:

Amortization of completed technology

3,935

3,808

—

3,935

3,808

Amortization of other intangible

assets

—

7,113

8,376

7,113

8,376

Transformation costs (1)

112

2,709

1,530

5,520

1,642

8,229

Restructuring charges

—

2,565

4,011

2,565

4,011

Impairment of goodwill and intangible

assets (2)

—

149,083

—

149,083

—

Merger and acquisition costs (3)

—

2,188

2,258

2,188

2,258

Other adjustments

—

Non-GAAP adjusted operating income

(loss)

$ (6,335)

$ (263)

$ (144)

$ 50

$ (6,479)

$ (213)

(*)

See footnote (1) on Page 1.

(1)

(2)

Represents non-cash goodwill impairment charges recognized in the second quarter of fiscal 2026 as a result of 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.

(3)

Includes expenses related to governance-related matters.

Sample Management Solutions

Multiomics

Azenta Total

Quarter Ended

Dollars in millions

March 31,

2026

March 31,

2025

Change

March 31,

2026

March 31,

2025

Change

March 31,

2026

March 31,

2025

Change

Revenue

$ 81

$ 80

2 %

$ 64

0 %

$ 145

$ 143

1 %

Acquisitions

(1)

—

(2) %

—

— %

(1)

—

(1) %

Currency

exchange rates

(2)

—

(3) %

(2)

—

(3) %

(4)

—

(3) %

Organic revenue

$ 78

$ 80

(3) %

$ 62

$ 64

(2) %

$ 140

$ 143

(3) %

Sample Management Solutions

Multiomics

Azenta Total

Six Months Ended

Dollars in millions

March 31,

2026

March 31,

2025

Change

March 31,

2026

March 31,

2025

Change

March 31,

2026

March 31,

2025

Change

Revenue

$ 163

$ 161

1 %

$ 131

$ 130

1 %

$ 293

$ 291

1 %

Acquisitions

(1)

—

(1) %

—

— %

(1)

—

(0 %)

Currency

exchange rates

(4)

—

(3) %

(3)

—

(2) %

(7)

—

(2) %

Organic revenue

$ 157

$ 161

(2) %

$ 128

$ 130

(1) %

$ 285

$ 291

(2) %

SOURCE Azenta