The following is a summary of the Azenta, Inc. (AZTA) Q2 2024 Earnings Call Transcript:
Financial Performance:
Azenta reported Q2 2024 revenue of $159 million, a 7% increase in reported and organic figures.
Non-GAAP gross margin increased to 44.3%, a year-over-year growth of 310 basis points.
The company's adjusted EBITDA was reported at 5.9% for Q2 with a non-GAAP EPS of $0.05.
Free cash flow consistently hit $2 million for the fourth consecutive quarter.
As of the end of the quarter, the company had $975 million in cash, cash equivalents, and marketable securities.
Business Progress:
New products and services have been launched across all business segments, driving revenues up in all three sectors.
Strategic investments bolster product and service differentiation, with an increasing number of collected samples supporting future discoveries.
B Medical segment contributed $23 million to the revenue, with a focus on vaccine cold chain product lines planned.
The company is forecasting improved performances for B Medical Product lines through close monitoring.
The China market has performed exceptionally well with double-digit growth for the past four quarters, driven by aggressive sales and production capacity expansion.
More details: Azenta IR
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