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, purchase price accounting adjustments, tariff adjustments, restructuring charges, rebranding and transformation costs, contingent consideration adjustments, and merger, acquisition, and costs related to 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.
Revenue from Continuing Operations – Fiscal 2023
| | | | | | | | | | | | | | | |
| | Quarter Ended | | Year Ended | |||||||||||
Dollars in millions | | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Revenue from Continuing Operations | | 2023 | | 2023 | | 2023 | | 2022 | | 2023 | |||||
Sample Management Solutions | | $ | 82 | | $ | 75 | | $ | 71 | | $ | 75 | | $ | 304 |
Multiomics | | | 61 | | | 64 | | | 62 | | | 61 | | | 248 |
B Medical Systems | | | 29 | | | 27 | | | 15 | | | 42 | | | 113 |
Azenta Total | | $ | 172 | | $ | 166 | | $ | 148 | | $ | 178 | | $ | 665 |
Revenue from Continuing Operations – Fiscal 2022
| | | | | | | | | | | | | | | |
| | Quarter Ended | | Year Ended | |||||||||||
Dollars in millions | | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Revenue from Continuing Operations | | 2022 | | 2022 | | 2022 | | 2021 | | 2022 | |||||
Sample Management Solutions | | $ | 75 | | $ | 73 | | $ | 81 | | $ | 76 | | $ | 305 |
Multiomics | | | 63 | | | 59 | | | 65 | | | 64 | | | 251 |
B Medical Systems | | | — | | | — | | | — | | | — | | | — |
Azenta Total | | $ | 138 | | $ | 133 | | $ | 146 | | $ | 140 | | $ | 555 |
Reconciliation of GAAP to Non-GAAP Gross Profit – Fiscal 2023
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | |||||||||||||||||||||||||||
| | Quarter Ended | | | Year Ended | | ||||||||||||||||||||||||
| | September 30, | | | June 30, | | | March 31, | | | December 31, | | | September 30, | | |||||||||||||||
Dollars in thousands | | 2023 | | | 2023 | | | 2023 | | | 2022 | | | 2023 | | |||||||||||||||
GAAP gross profit | | $ | 38,296 | | 46.8 | % | | $ | 34,930 | | 46.4 | % | | $ | 27,544 | | 38.8 | % | | $ | 32,035 | | 42.5 | % | | $ | 132,806 | | 43.7 | % |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of completed technology | | | 867 | | 1.1 | | | | 744 | | 1.0 | | | | 933 | | 1.3 | | | | 429 | | 0.6 | | | | 2,973 | | 1.0 | |
Purchase accounting impact on inventory | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | |
Non-GAAP adjusted gross profit | | $ | 39,163 | | 47.9 | % | | $ | 35,674 | | 47.3 | % | | $ | 28,477 | | 40.1 | % | | $ | 32,465 | | 43.0 | % | | $ | 135,779 | | 44.7 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Multiomics | | |||||||||||||||||||||||||||
| | Quarter Ended | | | Year Ended | | ||||||||||||||||||||||||
| | September 30, | | | June 30, | | | March 31, | | | December 31, | | | September 30, | | |||||||||||||||
Dollars in thousands | | 2023 | | | 2023 | | | 2023 | | | 2022 | | | 2023 | | |||||||||||||||
GAAP gross profit | | $ | 26,808 | | 43.9 | % | | $ | 28,294 | | 44.3 | % | | $ | 27,003 | | 43.4 | % | | $ | 27,716 | | 45.4 | % | | $ | 109,820 | | 44.2 | % |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of completed technology | | | 1,211 | | 2.0 | | | | 1,220 | | 1.9 | | | | 1,226 | | 2.0 | | | | 1,215 | | 2.0 | | | | 4,874 | | 2.0 | |
Purchase accounting impact on inventory | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | |
Non-GAAP adjusted gross profit | | $ | 28,019 | | 45.8 | % | | $ | 29,514 | | 46.2 | % | | $ | 28,229 | | 45.4 | % | | $ | 28,931 | | 47.4 | % | | $ | 114,694 | | 46.2 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | B Medical Systems | | |||||||||||||||||||||||||||
| | Quarter Ended | | | Year Ended | | ||||||||||||||||||||||||
| | September 30, | | | June 30, | | | March 31, | | | December 31, | | | September 30, | | |||||||||||||||
Dollars in thousands | | 2023 | | | 2023 | | | 2023 | | | 2022 | | | 2023 | | |||||||||||||||
GAAP gross profit | | $ | 2,930 | | 10.0 | % | | $ | 4,781 | | 17.9 | % | | $ | (1,311) | | (8.7) | % | | $ | 14,114 | | 33.7 | % | | $ | 20,514 | | 18.1 | % |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of completed technology | | | 2,691 | | 9.1 | | | | 2,692 | | 10.1 | | | | 2,742 | | 18.1 | | | | 2,523 | | 6.0 | | | | 10,647 | | 9.4 | |
Purchase accounting impact on inventory | | | 927 | | 3.1 | | | | 2,956 | | 11.0 | | | | 2,912 | | 19.3 | | | | 2,868 | | 6.9 | | | | 9,664 | | 8.5 | |
Non-GAAP adjusted gross profit | | $ | 6,548 | | 22.3 | % | | $ | 10,428 | | 39.0 | % | | $ | 4,343 | | 28.7 | % | | $ | 19,506 | | 46.6 | % | | $ | 40,824 | | 36.1 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Azenta Total | | |||||||||||||||||||||||||||
| | Quarter Ended | | | Year Ended | | ||||||||||||||||||||||||
| | September 30, | | | June 30, | | | March 31, | | | December 31, | | | September 30, | | |||||||||||||||
Dollars in thousands | | 2023 | | | 2023 | | | 2023 | | | 2022 | | | 2023 | | |||||||||||||||
GAAP gross profit | | $ | 68,034 | | 39.5 | % | | $ | 68,005 | | 41.0 | % | | $ | 53,236 | | 35.9 | % | | $ | 73,865 | | 41.4 | % | | $ | 263,140 | | 39.6 | % |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of completed technology | | | 4,769 | | 2.8 | | | | 4,656 | | 2.8 | | | | 4,901 | | 3.3 | | | | 4,168 | | 2.3 | | | | 18,494 | | 2.8 | |
Purchase accounting impact on inventory | | | 927 | | 0.5 | | | | 2,956 | | 1.8 | | | | 2,912 | | 2.0 | | | | 2,869 | | 1.6 | | | | 9,664 | | 1.4 | |
Non-GAAP adjusted gross profit | | $ | 73,730 | | 42.8 | % | | $ | 75,617 | | 45.6 | % | | $ | 61,049 | | 41.1 | % | | $ | 80,902 | | 45.4 | % | | $ | 291,298 | | 43.8 | % |
Reconciliation of GAAP to Non-GAAP Gross Profit – Fiscal 2022
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | |||||||||||||||||||||||||||
| | Quarter Ended | | | Year Ended | | ||||||||||||||||||||||||
| | September 30, | | | June 30, | | | March 31, | | | December 31, | | | September 30, | | |||||||||||||||
Dollars in thousands | | 2022 | | | 2022 | | | 2022 | | | 2021 | | | 2022 | | |||||||||||||||
GAAP gross profit | | $ | 31,606 | | 42.2 | % | | $ | 33,709 | | 45.9 | % | | $ | 39,702 | | 49.3 | % | | $ | 35,929 | | 47.4 | % | | $ | 140,947 | | 46.3 | % |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of completed technology | | | 528 | | 0.7 | | | | 378 | | 0.5 | | | | 394 | | 0.5 | | | | 330 | | 0.4 | | | | 1,631 | | 0.5 | |
Tariff adjustment | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | |
Other adjustment | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | |
Non-GAAP adjusted gross profit | | $ | 32,134 | | 42.9 | % | | $ | 34,088 | | 46.5 | % | | $ | 40,097 | | 49.8 | % | | $ | 36,259 | | 47.9 | % | | $ | 142,578 | | 46.8 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Multiomics | | |||||||||||||||||||||||||||
| | Quarter Ended | | | Year Ended | | ||||||||||||||||||||||||
| | September 30, | | | June 30, | | | March 31, | | | December 31, | | | September 30, | | |||||||||||||||
Dollars in thousands | | 2022 | | | 2022 | | | 2022 | | | 2021 | | | 2022 | | |||||||||||||||
GAAP gross profit | | $ | 26,523 | | 42.3 | % | | $ | 25,890 | | 43.6 | % | | $ | 31,123 | | 47.9 | % | | $ | 31,115 | | 48.7 | % | | $ | 114,650 | | 45.7 | % |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of completed technology | | | 1,373 | | 2.2 | | | | 1,433 | | 2.4 | | | | 1,445 | | 2.2 | | | | 1,443 | | 2.3 | | | | 5,693 | | 2.3 | |
Tariff adjustment | | | 2 | | — | | | | — | | — | | | | (486) | | (0.7) | | | | — | | — | | | | (484) | | (0.2) | |
Other adjustment | | | 289 | | 0.5 | | | | — | | — | | | | — | | — | | | | — | | — | | | | 289 | | 0.1 | |
Non-GAAP adjusted gross profit | | $ | 28,187 | | 45.0 | % | | $ | 27,322 | | 46.0 | % | | $ | 32,081 | | 49.4 | % | | $ | 32,558 | | 51.0 | % | | $ | 120,148 | | 47.9 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | B Medical Systems | | |||||||||||||||||||||||||||
| | Quarter Ended | | | Year Ended | | ||||||||||||||||||||||||
| | September 30, | | | June 30, | | | March 31, | | | December 31, | | | September 30, | | |||||||||||||||
Dollars in thousands | | 2022 | | | 2022 | | | 2022 | | | 2021 | | | 2022 | | |||||||||||||||
GAAP gross profit | | $ | — | | — | % | | $ | — | | — | % | | $ | — | | — | % | | $ | — | | — | % | | $ | — | | — | % |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of completed technology | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | |
Tariff adjustment | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | |
Other adjustment | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | | | | — | | — | |
Non-GAAP adjusted gross profit | | $ | — | | — | % | | $ | — | | — | % | | $ | — | | — | % | | $ | — | | — | % | | $ | — | | — | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Azenta Total | | |||||||||||||||||||||||||||
| | Quarter Ended | | | Year Ended | | ||||||||||||||||||||||||
| | September 30, | | | June 30, | | | March 31, | | | December 31, | | | September 30, | | |||||||||||||||
Dollars in thousands | | 2022 | | | 2022 | | | 2022 | | | 2021 | | | 2022 | | |||||||||||||||
GAAP gross profit | | $ | 58,129 | | 42.3 | % | | $ | 59,600 | | 44.9 | % | | $ | 70,825 | | 48.7 | % | | $ | 67,044 | | 48.0 | % | | $ | 255,597 | | 46.0 | % |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Amortization of completed technology | | | 1,901 | | 1.4 | | | | 1,812 | | 1.4 | | | | 1,840 | | 1.3 | | | | 1,773 | | 1.3 | | | | 7,324 | | 1.3 | |
Tariff adjustment | | | 2 | | 0.0 | | | | — | | — | | | | (486) | | (0.3) | | | | — | | — | | | | (484) | | (0.1) | |
Other adjustment | | | 289 | | 0.2 | | | | — | | — | | | | — | | — | | | | — | | — | | | | 289 | | 0.1 | |
Non-GAAP adjusted gross profit | | $ | 60,321 | | 43.8 | % | | $ | 61,412 | | 46.3 | % | | $ | 72,179 | | 49.6 | % | | $ | 68,817 | | 49.3 | % | | $ | 262,726 | | 47.3 | % |
Reconciliation of GAAP to Non-GAAP Operating (Loss) Profit – Fiscal 2023
| | | | | | | | | | | | | | | |
| | Sample Management Solutions | |||||||||||||
| | Quarter Ended | | Year Ended | |||||||||||
| | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Dollars in thousands | | 2023 | | 2023 | | 2023 | | 2022 | | 2023 | |||||
GAAP operating (loss) profit | | $ | 4,992 | | $ | 70 | | $ | (7,221) | | $ | (3,476) | | $ | (5,633) |
Adjustments: | | | | | | | | | | | | | | | |
Amortization of completed technology | |
| 867 | |
| 744 | |
| 933 | |
| 429 | |
| 2,973 |
Purchase accounting impact on inventory | |
| — | |
| — | |
| — | |
| — | |
| — |
Amortization of other intangibles | | | 51 | | | (1) | | | 212 | | | 48 | | | 311 |
Other Adjustment | | | — | | | — | | | — | | | — | | | — |
Non-GAAP adjusted operating profit (loss) | | $ | 5,910 | | $ | 813 | | $ | (6,076) | | $ | (2,998) | | $ | (2,349) |
| | | | | | | | | | | | | | | |
| | Multiomics | |||||||||||||
| | Quarter Ended | | Year Ended | |||||||||||
| | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Dollars in thousands | | 2023 | | 2023 | | 2023 | | 2022 | | 2023 | |||||
GAAP operating (loss) profit | | $ | (4,502) | | $ | (4,632) | | $ | (5,037) | | $ | (4,481) | | $ | (18,652) |
Adjustments: | | | | | | | | | | | | | | | |
Amortization of completed technology | |
| 1,211 | |
| 1,220 | |
| 1,226 | |
| 1,215 | |
| 4,874 |
Purchase accounting impact on inventory | |
| — | |
| — | |
| — | |
| — | |
| — |
Amortization of other intangibles | | | — | | | — | | | — | | | — | | | — |
Other Adjustment | | | — | | | — | | | — | | | — | | | — |
Non-GAAP adjusted operating profit (loss) | | $ | (3,291) | | $ | (3,412) | | $ | (3,810) | | $ | (3,265) | | $ | (13,779) |
| | | | | | | | | | | | | | | |
| | B Medical Systems | |||||||||||||
| | Quarter Ended | | Year Ended | |||||||||||
| | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Dollars in thousands | | 2023 | | 2023 | | 2023 | | 2022 | | 2023 | |||||
GAAP operating (loss) profit | | $ | (7,153) | | $ | (4,129) | | $ | (9,021) | | $ | (454) | | $ | (20,757) |
Adjustments: | | | | | | | | | | | | | | | |
Amortization of completed technology | |
| 2,691 | |
| 2,692 | |
| 2,742 | |
| 2,523 | |
| 10,647 |
Purchase accounting impact on inventory | |
| 927 | |
| 2,956 | |
| 2,912 | |
| 2,869 | |
| 9,664 |
Amortization of other intangibles | | | — | | | 1 | | | — | | | 1,365 | | | 1,366 |
Other Adjustment | | | (1) | | | — | | | — | | | — | | | (1) |
Non-GAAP adjusted operating profit (loss) | | $ | (3,537) | | $ | 1,520 | | $ | (3,367) | | $ | 6,303 | | $ | 919 |
| | | | | | | | | | | | | | | |
| | Corporate | |||||||||||||
| | Quarter Ended | | Year Ended | |||||||||||
| | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Dollars in thousands | | 2023 | | 2023 | | 2023 | | 2022 | | 2023 | |||||
GAAP operating (loss) profit | | $ | (9,964) | | $ | (7,145) | | $ | 8,302 | | $ | (19,274) | | $ | (28,083) |
Adjustments: | | | | | | | | | | | | | | | |
Amortization of other intangibles | | | 7,430 | | | 7,522 | | | 7,297 | | | 5,959 | | | 28,207 |
Restructuring Charges | | | 804 | | | 812 | | | 1,499 | | | 1,462 | | | 4,577 |
Rebranding and transformation costs | | | (15) | | | 21 | | | 10 | | | (65) | | | (49) |
Contingent consideration adjustment | | | — | | | (1,404) | | | (17,145) | | | — | | | (18,549) |
Merger and acquisition costs & costs related to share repurchase | | | 1,767 | | | 219 | | | 19 | | | 11,838 | | | 13,842 |
Other Adjustment | | | — | | | (2) | | | — | | | — | | | — |
Non-GAAP adjusted operating profit (loss) | | $ | 22 | | $ | 23 | | $ | (18) | | $ | (80) | | $ | (55) |
| | | | | | | | | | | | | | | |
| | Azenta Total | |||||||||||||
| | Quarter Ended | | Year Ended | |||||||||||
| | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Dollars in thousands | | 2023 | | 2023 | | 2023 | | 2022 | | 2023 | |||||
GAAP operating (loss) profit | | $ | (16,628) | | $ | (15,836) | | $ | (12,977) | | $ | (27,684) | | $ | (73,126) |
Adjustments: | | | | | | | | | | | | | | | |
Amortization of completed technology | |
| 4,769 | |
| 4,656 | |
| 4,901 | |
| 4,168 | |
| 18,494 |
Purchase accounting impact on inventory | |
| 927 | |
| 2,956 | |
| 2,912 | |
| 2,869 | |
| 9,664 |
Amortization of other intangibles | | | 7,481 | | | 7,522 | | | 7,509 | | | 7,372 | | | 29,884 |
Restructuring Charges | | | 804 | | | 812 | | | 1,499 | | | 1,462 | | | 4,577 |
Rebranding and transformation costs | | | (15) | | | 21 | | | 10 | | | (65) | | | (49) |
Contingent consideration adjustment | | | — | | | (1,404) | | | (17,145) | | | — | | | (18,549) |
Merger and acquisition costs & costs related to share repurchase | | | 1,767 | | | 219 | | | 19 | | | 11,838 | | | 13,842 |
Other Adjustment | | | (1) | | | (2) | | | — | | | — | | | (1) |
Non-GAAP adjusted operating profit (loss) | | $ | (896) | | $ | (1,056) | | $ | (13,272) | | $ | (40) | | $ | (15,264) |
Reconciliation of GAAP to Non-GAAP Operating (Loss) Profit – Fiscal 2022
| | | | | | | | | | | | | | | |
| | Sample Management Solutions | |||||||||||||
| | Quarter Ended | | Year Ended | |||||||||||
| | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Dollars in thousands | | 2022 | | 2022 | | 2022 | | 2021 | | 2022 | |||||
GAAP operating (loss) profit | | $ | 2,513 | | $ | 5,402 | | $ | 7,805 | | $ | 6,613 | | $ | 22,335 |
Adjustments: | | | | | | | | | | | | | | | |
Amortization of completed technology | |
| 528 | |
| 379 | |
| 395 | |
| 330 | |
| 1,631 |
Tariff adjustment | | | — | | | — | | | — | | | — | | | — |
Amortization of other intangibles | | | — | | | — | | | 5 | | | — | | | 5 |
Other Adjustment | | | (1) | | | — | | | — | | | — | | | — |
Non-GAAP adjusted operating profit (loss) | | $ | 3,041 | | $ | 5,781 | | $ | 8,205 | | $ | 6,943 | | $ | 23,970 |
| | | | | | | | | | | | | | | |
| | Multiomics | |||||||||||||
| | Quarter Ended | | Year Ended | |||||||||||
| | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Dollars in thousands | | 2022 | | 2022 | | 2022 | | 2021 | | 2022 | |||||
GAAP operating (loss) profit | | $ | (2,642) | | $ | (2,749) | | $ | 985 | | $ | 3,888 | | $ | (518) |
Adjustments: | | | | | | | | | | | | | | | |
Amortization of completed technology | |
| 1,373 | |
| 1,434 | |
| 1,445 | |
| 1,443 | |
| 5,693 |
Tariff adjustment | | | 2 | | | — | | | (486) | | | — | | | (484) |
Amortization of other intangibles | | | 339 | | | — | | | (5) | | | — | | | 340 |
Other Adjustment | | | (1) | | | — | | | — | | | — | | | — |
Non-GAAP adjusted operating profit (loss) | | $ | (930) | | $ | (1,315) | | $ | 1,939 | | $ | 5,331 | | $ | 5,032 |
| | | | | | | | | | | | | | | |
| | B Medical Systems | |||||||||||||
| | Quarter Ended | | Year Ended | |||||||||||
| | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Dollars in thousands | | 2022 | | 2022 | | 2022 | | 2021 | | 2022 | |||||
GAAP operating (loss) profit | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — |
Adjustments: | | | | | | | | | | | | | | | |
Amortization of completed technology | |
| — | |
| — | |
| — | |
| — | |
| — |
Tariff adjustment | | | — | | | — | | | — | | | — | | | — |
Amortization of other intangibles | | | — | | | — | | | — | | | — | | | — |
Other Adjustment | | | — | | | — | | | — | | | — | | | — |
Non-GAAP adjusted operating profit (loss) | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — |
| | | | | | | | | | | | | | | |
| | Corporate | |||||||||||||
| | Quarter Ended | | Year Ended | |||||||||||
| | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Dollars in thousands | | 2022 | | 2022 | | 2022 | | 2021 | | 2022 | |||||
GAAP operating (loss) profit | | $ | (14,490) | | $ | (7,726) | | $ | (13,499) | | $ | (10,826) | | $ | (46,552) |
Adjustments: | | | | | | | | | | | | | | | |
Amortization of other intangibles | | | 6,561 | | | 5,745 | | | 6,047 | | | 6,272 | | | 24,620 |
Restructuring Charges | | | 393 | | | 25 | | | 122 | | | 173 | | | 712 |
Rebranding and transformation costs | | | 536 | | | 289 | | | 1,297 | | | 619 | | | 2,741 |
Contingent consideration adjustment | | | — | | | — | | | 600 | | | — | | | 600 |
Merger and acquisition costs & costs related to share repurchase | | | 6,959 | | | 1,662 | | | 4,989 | | | 3,719 | | | 17,329 |
Other Adjustment | | | — | | | — | | | — | | | — | | | — |
Non-GAAP adjusted operating profit (loss) | | $ | (41) | | $ | (5) | | $ | (444) | | $ | (43) | | $ | (550) |
| | | | | | | | | | | | | | | |
| | Azenta Total | |||||||||||||
| | Quarter Ended | | Year Ended | |||||||||||
| | September 30, | | June 30, | | March 31, | | December 31, | | September 30, | |||||
Dollars in thousands | | 2022 | | 2022 | | 2022 | | 2021 | | 2022 | |||||
GAAP operating (loss) profit | | $ | (14,619) | | $ | (5,073) | | $ | (4,708) | | $ | (325) | | $ | (24,735) |
Adjustments: | | | | | | | | | | | | | | | |
Amortization of completed technology | |
| 1,901 | |
| 1,813 | |
| 1,840 | |
| 1,773 | |
| 7,324 |
Amortization of other intangibles | | | 6,900 | | | 5,745 | | | 6,047 | | | 6,272 | | | 24,965 |
Tariff adjustment | | | 2 | | | — | | | (486) | | | — | | | (484) |
Restructuring Charges | | | 393 | | | 25 | | | 122 | | | 173 | | | 712 |
Rebranding and transformation costs | | | 536 | | | 289 | | | 1,297 | | | 619 | | | 2,741 |
Contingent consideration adjustment | | | — | | | — | | | 600 | | | — | | | 600 |
Merger and acquisition costs & costs related to share repurchase | | | 6,959 | | | 1,662 | | | 4,989 | | | 3,719 | | | 17,329 |
Other Adjustment | | | (2) | | | — | | | — | | | — | | | — |
Non-GAAP adjusted operating profit (loss) | | $ | 2,070 | | $ | 4,461 | | $ | 9,701 | | $ | 12,231 | | $ | 28,452 |
Organic Revenue – Fiscal 2023
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | Multiomics | | B Medical Systems | | Azenta Total | ||||||||||||||||||||||||||||
| | Quarter Ended | | Quarter Ended | | Quarter Ended | | Quarter Ended | ||||||||||||||||||||||||||||
| | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | ||||||||
Dollars in millions | | 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change | ||||||||||||
Revenue | | $ | 82 | | $ | 75 | | 9 | % | | $ | 61 | | $ | 63 | | (2) | % | | $ | 29 | | $ | — | | — | % | | $ | 172 | | $ | 138 | | 25 | % |
Acquisitions/divestitures | |
| 1 | |
| — | | (1) | % | |
| — | |
| — | | — | % | |
| 29 | |
| — | | — | % | |
| 30 | |
| — | | (22) | % |
Currency exchange rates | |
| 2 | |
| — | | (3) | % | |
| (0) | |
| — | | 0 | % | |
| — | |
| — | | — | % | |
| 2 | |
| — | | (1) | % |
Organic revenue | | $ | 79 | | $ | 75 | | 5 | % | | $ | 61 | | $ | 63 | | (2) | % | | $ | — | | $ | — | | — | % | | $ | 140 | | $ | 138 | | 2 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | Multiomics | | B Medical Systems | | Azenta Total | ||||||||||||||||||||||||||||
| | Quarter Ended | | Quarter Ended | | Quarter Ended | | Quarter Ended | ||||||||||||||||||||||||||||
| | June 30, | | June 30, | | | | | June 30, | | June 30, | | | | | June 30, | | June 30, | | | | | June 30, | | June 30, | | | | ||||||||
Dollars in millions | | 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change | ||||||||||||
Revenue | | $ | 75 | | $ | 73 | | 3 | % | | $ | 64 | | $ | 59 | | 8 | % | | $ | 27 | | $ | — | | — | % | | $ | 166 | | $ | 133 | | 25 | % |
Acquisitions/divestitures | |
| 5 | |
| — | | (7) | % | |
| — | |
| — | | — | % | |
| 27 | |
| — | | — | % | |
| 32 | |
| — | | (24) | % |
Currency exchange rates | |
| (0) | |
| — | | 0 | % | |
| (1) | |
| — | | 1 | % | |
| — | |
| — | | — | % | |
| (1) | |
| — | | 0 | % |
Organic revenue | | $ | 70 | | $ | 73 | | (4) | % | | $ | 64 | | $ | 59 | | 8 | % | | $ | — | | $ | — | | — | % | | $ | 135 | | $ | 133 | | 2 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | Multiomics | | B Medical Systems | | Azenta Total | ||||||||||||||||||||||||||||
| | Quarter Ended | | Quarter Ended | | Quarter Ended | | Quarter Ended | ||||||||||||||||||||||||||||
| | March 31, | | March 31, | | | | | March 31, | | March 31, | | | | | March 31, | | March 31, | | | | | March 31, | | March 31, | | | | ||||||||
Dollars in millions | | 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change | ||||||||||||
Revenue | | $ | 71 | | $ | 81 | | (12) | % | | $ | 62 | | $ | 65 | | (4) | % | | $ | 15 | | $ | — | | — | % | | $ | 148 | | $ | 146 | | 2 | % |
Acquisitions/divestitures | |
| 4 | |
| — | | (5) | % | |
| — | |
| — | | — | % | |
| 15 | |
| — | | — | % | |
| 19 | |
| — | | (13) | % |
Currency exchange rates | |
| (2) | |
| — | | 3 | % | |
| (2) | |
| — | | 3 | % | |
| — | |
| — | | — | % | |
| (4) | |
| — | | 3 | % |
Organic revenue | | $ | 70 | | $ | 81 | | (14) | % | | $ | 64 | | $ | 65 | | (1) | % | | $ | — | | $ | — | | — | % | | $ | 134 | | $ | 146 | | (8) | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | Multiomics | | B Medical Systems | | Azenta Total | ||||||||||||||||||||||||||||
| | Quarter Ended | | Quarter Ended | | Quarter Ended | | Quarter Ended | ||||||||||||||||||||||||||||
| | December 31, | | December 31, | | | | | December 31, | | December 31, | | | | | December 31, | | December 31, | | | | | December 31, | | December 31, | | | | ||||||||
Dollars in millions | | 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change | ||||||||||||
Revenue | | $ | 75 | | $ | 76 | | (0) | % | | $ | 61 | | $ | 64 | | (4) | % | | $ | 42 | | $ | — | | — | % | | $ | 178 | | $ | 140 | | 28 | % |
Acquisitions/divestitures | |
| 4 | |
| — | | (5) | % | |
| — | |
| — | | — | % | |
| 42 | |
| — | | — | % | |
| 46 | |
| — | | (33) | % |
Currency exchange rates | |
| (3) | |
| — | | 4 | % | |
| (3) | |
| — | | 5 | % | |
| — | |
| — | | — | % | |
| (6) | |
| — | | 4 | % |
Organic revenue | | $ | 75 | | $ | 76 | | (1) | % | | $ | 64 | | $ | 64 | | 0 | % | | $ | — | | $ | — | | — | % | | $ | 139 | | $ | 140 | | (1) | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | Multiomics | | B Medical Systems | | Azenta Total | ||||||||||||||||||||||||||||
| | Year Ended | | Year Ended | | Year Ended | | Year Ended | ||||||||||||||||||||||||||||
| | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | ||||||||
Dollars in millions | | 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change |
| 2023 | | 2022 | | Change | ||||||||||||
Revenue | | $ | 304 | | $ | 305 | | (0) | % | | $ | 248 | | $ | 251 | | (1) | % | | $ | 113 | | $ | — | | — | % | | $ | 665 | | $ | 555 | | 20 | % |
Acquisitions/divestitures | |
| 14 | |
| — | | (4) | % | |
| — | |
| — | | — | % | |
| 113 | |
| — | | — | % | |
| 127 | |
| — | | (23) | % |
Currency exchange rates | |
| (4) | |
| — | | 1 | % | |
| (6) | |
| — | | 2 | % | |
| — | |
| — | | — | % | |
| (9) | |
| — | | 2 | % |
Organic revenue | | $ | 294 | | $ | 305 | | (4) | % | | $ | 254 | | $ | 251 | | 1 | % | | $ | — | | $ | — | | — | % | | $ | 547 | | $ | 555 | | (1) | % |
Organic Revenue – Fiscal 2022
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | Multiomics | | B Medical Systems | | Azenta Total | ||||||||||||||||||||||||||||
| | Quarter Ended | | Quarter Ended | | Quarter Ended | | Quarter Ended | ||||||||||||||||||||||||||||
| | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | ||||||||
Dollars in millions | | 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change | ||||||||||||
Revenue | | $ | 75 | | $ | 78 | | (3) | % | | $ | 63 | | $ | 59 | | 6 | % | | $ | — | | $ | — | | — | % | | $ | 138 | | $ | 137 | | 0 | % |
Acquisitions/divestitures | |
| 4 | |
| — | | (5) | % | |
| — | |
| — | | — | % | |
| — | |
| — | | — | % | |
| 4 | |
| — | | (3) | % |
Currency exchange rates | |
| (4) | |
| — | | 5 | % | |
| (2) | |
| — | | 4 | % | |
| — | |
| — | | — | % | |
| (6) | |
| — | | 4 | % |
Organic revenue | | $ | 75 | | $ | 78 | | (4) | % | | $ | 65 | | $ | 59 | | 9 | % | | $ | — | | $ | — | | — | % | | $ | 139 | | $ | 137 | | 2 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | Multiomics | | B Medical Systems | | Azenta Total | ||||||||||||||||||||||||||||
| | Quarter Ended | | Quarter Ended | | Quarter Ended | | Quarter Ended | ||||||||||||||||||||||||||||
| | June 30, | | June 30, | | | | | June 30, | | June 30, | | | | | June 30, | | June 30, | | | | | June 30, | | June 30, | | | | ||||||||
Dollars in millions | | 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change | ||||||||||||
Revenue | | $ | 73 | | $ | 70 | | 4 | % | | $ | 59 | | $ | 59 | | 1 | % | | $ | — | | $ | — | | — | % | | $ | 133 | | $ | 129 | | 3 | % |
Acquisitions/divestitures | |
| — | |
| — | | — | % | |
| — | |
| — | | — | % | |
| — | |
| — | | — | % | |
| — | |
| — | | — | % |
Currency exchange rates | |
| (2) | |
| — | | 4 | % | |
| (1) | |
| — | | 2 | % | |
| — | |
| — | | — | % | |
| (4) | |
| — | | 3 | % |
Organic revenue | | $ | 76 | | $ | 70 | | 8 | % | | $ | 61 | | $ | 59 | | 3 | % | | $ | — | | $ | — | | — | % | | $ | 137 | | $ | 129 | | 6 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | Multiomics | | B Medical Systems | | Azenta Total | ||||||||||||||||||||||||||||
| | Quarter Ended | | Quarter Ended | | Quarter Ended | | Quarter Ended | ||||||||||||||||||||||||||||
| | March 31, | | March 31, | | | | | March 31, | | March 31, | | | | | March 31, | | March 31, | | | | | March 31, | | March 31, | | | | ||||||||
Dollars in millions | | 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change | ||||||||||||
Revenue | | $ | 81 | | $ | 73 | | 11 | % | | $ | 65 | | $ | 57 | | 15 | % | | $ | — | | $ | — | | — | % | | $ | 146 | | $ | 130 | | 12 | % |
Acquisitions/divestitures | |
| 2 | |
| — | | (2) | % | |
| — | |
| — | | — | % | |
| — | |
| — | | — | % | |
| 2 | |
| — | | (1) | % |
Currency exchange rates | |
| (1) | |
| — | | 1 | % | |
| (1) | |
| — | | 1 | % | |
| — | |
| — | | — | % | |
| (2) | |
| — | | 1 | % |
Organic revenue | | $ | 80 | | $ | 73 | | 10 | % | | $ | 66 | | $ | 57 | | 16 | % | | $ | — | | $ | — | | — | % | | $ | 145 | | $ | 130 | | 12 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | Multiomics | | B Medical Systems | | Azenta Total | ||||||||||||||||||||||||||||
| | Quarter Ended | | Quarter Ended | | Quarter Ended | | Quarter Ended | ||||||||||||||||||||||||||||
| | December 31, | | December 31, | | | | | December 31, | | December 31, | | | | | December 31, | | December 31, | | | | | December 31, | | December 31, | | | | ||||||||
Dollars in millions | | 2021 | | 2020 | | Change |
| 2021 | | 2020 | | Change |
| 2021 | | 2020 | | Change |
| 2021 | | 2020 | | Change | ||||||||||||
Revenue | | $ | 76 | | $ | 68 | | 12 | % | | $ | 64 | | $ | 50 | | 27 | % | | $ | — | | $ | — | | — | % | | $ | 140 | | $ | 118 | | 18 | % |
Acquisitions/divestitures | |
| 2 | |
| — | | (3) | % | |
| — | |
| — | | — | % | |
| — | |
| — | | — | % | |
| 2 | |
| — | | (2) | % |
Currency exchange rates | |
| 0 | |
| — | | (1) | % | |
| 0 | |
| — | | (0) | % | |
| — | |
| — | | — | % | |
| 0 | |
| — | | (0) | % |
Organic revenue | | $ | 73 | | $ | 68 | | 8 | % | | $ | 64 | | $ | 50 | | 27 | % | | $ | — | | $ | — | | — | % | | $ | 137 | | $ | 118 | | 16 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Sample Management Solutions | | Multiomics | | B Medical Systems | | Azenta Total | ||||||||||||||||||||||||||||
| | Year Ended | | Year Ended | | Year Ended | | Year Ended | ||||||||||||||||||||||||||||
| | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | | September 30, | | September 30, | | | | ||||||||
Dollars in millions | | 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change |
| 2022 | | 2021 | | Change | ||||||||||||
Revenue | | $ | 305 | | $ | 289 | | 6 | % | | $ | 251 | | $ | 225 | | 11 | % | | $ | — | | $ | — | | — | % | | $ | 555 | | $ | 514 | | 8 | % |
Acquisitions/divestitures | |
| 8 | |
| — | | (3) | % | |
| — | |
| — | | — | % | |
| — | |
| — | | — | % | |
| 8 | |
| — | | (2) | % |
Currency exchange rates | |
| (7) | |
| — | | 2 | % | |
| (4) | |
| — | | 2 | % | |
| — | |
| — | | — | % | |
| (11) | |
| — | | 2 | % |
Organic revenue | | $ | 303 | | $ | 289 | | 5 | % | | $ | 255 | | $ | 225 | | 13 | % | | $ | — | | $ | — | | — | % | | $ | 558 | | $ | 514 | | 9 | % |