Azenta (AZTA)

Sara Silverman Director, Investor Relations
Steve Schwartz President & Chief Executive Officer
Lindon Robertson Executive Vice President & Chief Financial Officer
David Saxon Needham
Mike Gokay KeyBanc Capital Markets
Call transcript
Due to licensing restrictions, you must log in to view earnings call transcripts.

Greetings and welcome to the Brooks Automation Q4 2021 Financial Results.

During the presentation, all participants will be in a listen-only. Afterwards we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded Wednesday, November 10th, 2021. I will now turn the conference over to Sara Silverman, Director of Investor Relations. ahead. go Please

Sara Silverman

year and today. operator our to on of everyone conference Thank would good like line fiscal quarter fourth We for to to the call you the afternoon XXXX. welcome earnings you

quarterly Our making announced of to Investor on remind forward-looking close the those and the within our the actual other the used issued that are forward-looking everyone of from are supplementary that located Private an which XX-K We events of a the Safe website earnings divestiture obligation may We of the results the our with many of Harbor in our slide non-GAAP at various aspects due fourth the during the identified remarks to of of no on with, Please addition reconciliation financial results but believe addition market be forward-looking future number the Safe will to today. from our results provide PowerPoint of treated more and presented to way SEC, relied data with the factors a you these and additional press the Brooks statements provide non-GAAP differ operations. quarter available viewing are I today. the was business that course operations to XXXX. XXth, refer filings and meaning exclusion the on including Non-GAAP not in after in release Securities during would will even note Statement We number presentation or they is our measures reports September should considered GAAP and Litigation complete Harbor differ to that such PowerPoint Relations events of used the and the Act aforementioned GAAP conjunction with on annual like of measures be today themselves. brooks.investorroom.com on financial prepared discontinued of website financial business. in automation update the XXXX, to the of semiconductor as statements an may the in GAAP measures the section the release be financial Form should There measures, I'd our measures occur on titled that we performance, GAAP. accordance or results Form refer to presented understanding statements earnings when cause to our upon of call, make statements. reports XX-Q. slides

On the Executive Steve President and today me with our Officer, and Vice is President Executive Officer, Financial Lindon Schwartz; Chief call and Robertson. our Chief

the will more call fourth look results of fiscal highlights our a XXXX. quarter with financial our and from of into remarks Then provide open will the Steve We Lindon for quarter. on outlook detailed first the

will then at the to of Steve over We to that the With CEO, our call remarks. like end I'd the prepared take Schwartz. turn questions your

Steve Schwartz

H. The shareholder Both of sale setting the makeup to quarter and to considerably Azenta afternoon business. sciences the value. newly branded Life past quarter, We Lee of delivering configuration automation of of productive launch our and our change these announced initiatives be different over compared next the phase Sciences, Good of Thomas we actions the In will significantly result semiconductor these more the what are the the thank everyone continued exciting Partners business us of to you company. key life and joining had up with leadership, ourselves Sara. Automation today. decade. you, the for another you've a with market for come Brooks but Thank will growth know

another of automation performance relates semiconductor to now reporting financial Azenta actively will discontinued will While operations. the I business, enough the and but until to changes Lindon of manage quarter sale complete, businesses the we QX will is solid. automation classified today's provide Beginning strong most with what is results, But continue business are Sciences. commentary as and both to we semiconductor and the Life to limited convey about highlight outlook reinforce remains that immediate

the it we the to XX% from for company the granular aggregate was XX% Sciences of year-over-year fiscal and before $XXX strong move XXXX. So, company revenue the outlook very the million, to semiconductor for was end XXXX robust the was up not year closed for another Life say the the the only, performance to I and out revenue automation We'll the $XXX of business. semiconductor September. fiscal million, year. want remains revenue mix, up of XXXX be the automation for for the increase do year the giving an semiconductor view QX billion, automation Suffice we is In $X.X year-over-year. data on full business at performance quarter in XX% for full reflect Total as

However, to mention I'll operate closes. business until transaction will the we continue the that still

when my not close. continue to and Sciences We're certain that business as continue about Lindon portfolio our financials unites place, new offerings. we last a such launched the the Life as operate only And began on around identity near-term of to Life November, week skip growth support to Xst businesses As name both the beat. to launch remarks, arrangement which this on the our the company. Azenta speaking will a From in the provide semiconductor us on be we our point unique with as of as takes of I'll pre that with more the transfer automation brand XXth we our conducting we business of and of new color implications Azenta. bit to Sciences the this invest be to excited business did September customers

Analyst each to market therapies faster. promise be with been alike. wear at do on what that Virtual our And believe breakthrough attend. difference on to employees have engage November to in other do brought our customers singular Life hope XXth. eager about deliver has enthusiasm the to makes and we're purpose, Investor rollout We'll able We from Our a world. with we brand, to that And our next we week Day met Sciences and be Azenta you'll to much a and new our more say enable truly

a So stand pleased and fiscal unique XXXX. $XXX pure-play to last year. million Sciences up year life the revenue fact with XX% now I'm $XXX was the up to for QX quarter its Revenue we that finished million significant an company. by sciences by year totaling full it's from XX% from own, on for Life And achievements Azenta the outstanding report marked about one as on punctuated

is life retrieval, annotation critical subsequent formatting sample workflow. whether archiving sourcing, of we momentum ultimately, both plants, services is to discovery more robust, record the revenues. that animals, new laboratories. segments strong Customer unify and biological cycle, humans, storage based genomic we development and for to customer care the Each and in or and on All from quarter. customers Our growth these proper across and expand analysis continued our future use. value throughout remained in proposition and therapeutic once products again capture synthesized transportation, focus from as than XXX added accounts At and with bring throughout Azenta its now delivering our proper temperature-controlled requires samples, the samples

that critical, the must that to It have more product both results of drive must are a custody capabilities treatments few this of assets potentially in integrity value this samples maximum annotation market, scientific these management precise of assist must the management analytical and that to has cared that are each year and/or it additional their of are more for. ask customers these irreplaceable be to a exactly of samples. management extraction that And of breakthrough the to and offering incremental and to With color because deliver, sample with for of of from potential that the exist, of also voluminous trends number them to service and plus portfolio be customers each has possible, particular requirements from security sample. bring that truly is quarter passing each to simultaneously become the Add securely complex that challenge precious any of to a enables data In manage, we step our which compromise that complex the the collections give us faster. become As customers Azenta. the allow meet value unique data our challenge I'd day business. value-added full samples conditions sample. attached proving the our sheer compounding but them under highlights, exacting Enter to chain with of samples workflow the to our the shaping and the you myriad we

for million with million strong XX% business front for an of XX% sub-segments business from inflow recent opportunities. largest for full biorepository Sanger and large our celebrated two Repository for expansion Sample additions reported revenue services of was by services strong growth Revenue sample our customer quarter wins, year-over-year. each $XXX capacity growth flexible new our our contributions also on-site The RNA growth synthesis. in of and quarter Clinic management with Solutions of we management the NGS the from major Notably, our these from Our plus point and enabled we sample Next also sample made which $XX an business. service the the of we've Generation the with sequencing proof is demand Pharma expansion In the saw by Sequencing Sequencing, to steady stay important most opening business, driven maintained our innovation year model. Cleveland

year because made gains XX reported growth. quarter to quarter This Additionally, for another opportunity sustaining a of by record $XX year $XXX XX% the in the in where of The was XX% growth growth with Revenue over confident we're increase year-over-year. for past SRS XXXX. and products consumables, million remains the demand fiscal continues the business for another partially share months. million led the business year was testing, but with the business because sequential products we in full grow robust, of COVID pipeline revenue good for

strong cell added are to continued which growth revenue customers, services contribution lines of of are and a of from we the adoption steady of cell existing where a Azenta represented up we growth our combine pleased capabilities of challenges and and gene makes continue QX therapy automated cell to a of momentum we solves Furthermore, gene offerings In gene applications our Cryo from and our customers, gene base facing our into revenue, valuable cryogenics therapy had cell way again shipments believe customer quarter-over-quarter. even therapy record by and the of to various cell system. year-over-year. the storage rapid but of applications, that growth continued sample that drive therapy addition We solutions are our XX% gene see cell immediate moving anticipate BioStore and beginning persistent to the have cryogenic acceleration XX% to the wave the from development. our it's than management significantly all we Furthermore, products. enabling scientists products the today. most still as was customers. less more stages that from expanding some Across with in offering We while therapy capabilities we our and expansion as result in once shipments We particularly new vaccine systems several the for we for the quarter momentum

many days fueled by said opportunity in are human history. we that's a science unprecedented is pace being at that earliest we've discovery of in this biological As period times, a still of the

segments about automation these deliberately uniquely all a delivering We was of of a different be critical in from a We're very to significant profitability. and to our our semiconductor positioned position portion endeavors. enabler are when be business across

a us company, so that objective. sciences As maintain can growth to profit trajectory, the life a that this course we our We're charted accelerate to strong infrastructure. will satisfy once stand-alone we again by allow confident leveraging we've plan

sheet cash of closing more of sale the our of our the have the balance automation upon value build with capability than further we'll out $X.X which Secondly, semiconductor will we on sample billion the along business, chain.

internal first priority innovation. organic is our for expansion always, As and growth investment for in capabilities existing by investments of

our However, the more cash give into opportunities bring faster. us capabilities position will to transformative portfolio substantial

pipeline of and opportunities bring proven we're our into company a ability to We have successfully active fold. acquisitions with a an potential

as with global them entire destined industry. and have We're business growth of semiconductor ahead. team. success exciting for our Azenta sciences We deserving under of more an positioned Brooks automation Similarly, the a life that more of portfolio we're Sciences days the who pure-play support company. products THL, Life proud enable powerful innovative will The automation services is provide value-adding

our global to promise strategic will talented hugely we to and advantage this a a our opportunity. customer capture be delivering to as on have our and enable sheet success dedicated balance team unique We work

interest thank over deliver As to for always, I'll shareholders. work and to turn and you we support we customers now your value the our Lindon. as call to

Lindon Robertson

Thank available I now to refer you, back the deck Steve. you website. on our slide

Slide X. to Turning

will do a but semi few I be I regarding to the business, referenced, Steve As semi highlight with brief points want with included. remarks

clarity with of sciences XX% how our view sciences our million this discontinued pending life for break life of non-GAAP In per details our Due line high non-GAAP down generated consist top our operations GAAP the direct of more against and the operations up Total $X.XX expectations strong to historical In and guidance results and business. Both our under continued the of exclusively was to of business high on will we had continued our $XXX page. QX semiconductor end high-growth the view profitability. earnings provided year-over-year. reaching results aggregate For prior comparison the next $XXX of treat per earnings million performed for quarter this aggregate reporting revenue share sale, XX% I share another as the we year-over-year. will Semi of growth growth was with results. of guidance We up will in showed And with achieved have appendix $X.XX range of presentation, the revenue that of expectations? year-over-year. semi. semi end XX% context, and sciences life

of which and my the represents However, Services the continuing consists on Life Products segment remainder remarks ongoing focus Science will business. operations and the of Science the Life

and margin and and the organic As $XXX roll most XXX structure net with year-over-year an sale to achieve year basis. later was XXXX. full business mentioned to off exit provide growth XX% year. for XX% EBITDA on when overlapping remain G&A Adjusted in XX% but the my million, products basis delivered track is of QX and XX.X% Life Sciences adjusted headwind points remarks, quarter services over importantly revenue of expected fiscal on details is we we up on strong the I will finished margin up this Both that of year more the XX% EBITDA as closes. perhaps

September sell which was business has an was to business, our for changes $X our these semiconductor XXth Of reaching course our cash. automation in it announcement The to driven of agreement reporting. the agreement to billion sell

of expect proceeds deploy net from billion in transaction to expect approximately the investment the We Life for business. strategic cash in net available have $X.X Sciences to and billion $X.X

Moving to X. slide

X% page. on closer up will up a you the which see on year-over-year. Revenue was take let's side look First, GAAP a of the left sequentially basis, and XX%

to margin the reflects the of standing quarter to earnings non-cash in was was total The discontinued share GAAP separating names of gross include per Looking established expenses businesses. profit at million quarter. operations a new lower brand. operations. separating operating $X.XX GAAP stable, approximately as related Operating up the classified the a semi and to continuing the operations for the as Azenta was share $X expenses retirement loss related related the The $X.XX, we $X.XX the business two line, bottom including trade $XX margin and of while million expense of which includes per of corporate expenses discontinued earnings from

cost supporting $XX of until is there burden the is actively charge potential a we the achieved. Below line non-operating simultaneously to our the Additionally, liability. line, both nets at income structure, businesses incremental an final overlapping expense corporate out million of asset. This we million release in is had of as operating tax separation $XX indemnification $XX income eliminated zero related net related million a to tax which

improvements Now has $XX round business. the was related out consumables gross also faster than the revenue Sciences points pressure let's in We demonstrating modest but on year-over-year, to points another of quarter. into strong performance was year-over-year, Life continues offset saw basis increased segment pressure Sciences had growth Life basis the the of was what truly which and the grow slight expense. XXX deeper sequentially decline million. and basis margin about basis to year will on non-GAAP leverage in temporary the quarter-over-quarter business, operating quarter our products the our right side stable I business a Organic structure reflecting provide dive strong later in COVID of transformational in the a sequentially income additional points XX in in showing for up XX as page. operating quarter in which my the delivered by XX% the Operating services, down XX been revenue color in and relatively remarks. margin The points predominantly P&L G&A

around foresee our of Let through how reporting me provide color and the XXXX. end fiscal on the the transitioning to of transaction the more to closure changes continuing to operations, we

prior the from of EBITDA QX our quarters, approximately expect recall the was may of points Life XX%, companies the on you on five explained so pressure the might XX%. EBITDA I margin stand-alone you Sciences a call, adjusted put have separation As stand-alone adjusted basis margin. that last At approximately would two

will in long of the continue of discontinued see we have we the will and the overlapping expect quarters of the XXXX, calendar is of the as margins to QX Meanwhile, shed to year we we produce in full and to which in structure. of close enhanced quarter XXXX, model the the expected expect we we improvement. nearly across half finalize for When points expense continue extra first as basis adjusted about separation, cost exit our are This leverage XXXX carry Sciences, expense. will a fourth quarter and of business improvement in extra continuing overlapping deal margin to continue immediate this an points XXX to grow that this on margin XX.X% drive mind, functions with as of XXX operations, a basis as Life be our that supporting quarter operations basis adjusted G&A point fiscal reported an With EBITDA basis. XX%. However, we XXX corporate EBITDA we some additional quarter-over-quarter

for in operations Organic both Turning by basis. a fiscal XXX to Life as in will results in you Life our strong $X.XX points, fiscal both and viewed improvement full XXXX. continuing culminating Services. impressive expanded in driven year for of earnings five, basis by non-GAAP year on per increased a for XXX X.X% in Non-GAAP year the full for came segments. margins the both Gross XXXX. share adjusted now Again, year to $X.XX of growth basis growth growth continuing compared full XX%, periods, margins, rate year-over-year. of breakeven XXXX see operations continuing XX.X%, incredibly an up was in basis basis year slide margin revenue on at from to points operating XX.X%, on operations was margin The Science Full Products similar XX%. Science driven EBITDA tax fiscal

QX year-over-year, margin expansion XX%. XXX Sciences operating year, Now The margins XX.X% a EBITDA driven shows was quarter-over-quarter Products up to by basis operating total XX% in review improvement basis please strong same our gross points by business. storage results. instruments. at up of in in The products year-over-year. the year-over-year turn in and leverage and increase Adjusted driven growth X% Science Products XX.X%, XX% XXX automated QX margin the page margin growth and expanded was over million, systems six $XX business Life storage and improvement last the came XX% Life margin and for our point The by driven a in gross consumables of business. in segment was

for generated Science page to turn review and please an $XX a revenue of Life year-over-year business a of on segment results. million, of Services sequential Next, XX% our seven basis. X% Services increase

margin, also XX% our of year-over-year, driven lines. grew Repository strong delivered Repository Solutions of services offerings. XX% storage, we strong the excluding our growth revenue quarter by Solutions services across was business Sample business capacity the for up of within slightly genomic Sequentially, hiring RUCDR. and with margin adjusted was of near tapering quarter a brought and level services the impact earlier for XX%. reminder, retention. Sample adjust revenue remains foresee SRS a our force driven the for growth, all business services in and this EBITDA business this by services to The labor in As to We The for this revenue year-over-year future for year. the RUCDR, up This genomic providing both growth in comprised level up fluctuating impact the the is XX.X%. XX% gross and around margin higher-than-average double-digit If total business delivered service XX.X% fourth recent following the XX%. for a compensation service EBITDA levels growth. gross reflects utilization gross now target This margin margin expansion range and investments return

turn Let's of quarter. for cash flow summary for eight slide the to a

of generated for the Our costs. from past operations. which semi. line this The operating million totaled quarter $XXX prudent of the over including million reported expenditures operating We basis, capital flow businesses million, cash of Capital investments $XX to to growth million related $X cash reflects both discontinued included outflows a support year, flow the $XX is cash including separation consolidated throughout on year. results the working for

capital total million $XX Sciences. year, full to of includes $XX million the For Life related expenditures

the moved on of decade. balance $XXX to we of acquisitions intangibles the is to million cash, $XXX the the restricted numerous provide closed line. cash. held largest nine reflecting net balance million the approximately with sheet Let's cash the the science have we done debt providing Reviewing sale with slide million and the where goodwill over net of books and life business, with for securities, asset $XX past assets turn for view sheet semi the marketable assets along first We of

tools and an of The million made is $XXX equipment the in and inventory genomic such in highlighted up analysis PP&E can As flow, line partially working payables. of sciences cash as increase you molding. is capital life freezers, receivables offset in and accounts in injection there see

locations world, but also beyond eight We of have and software other XX the solution the comprised we leasehold line, this labs and improvements. repository and And building sample assets. around is have

Slide first to of in the from Let's the turn continuing expected on is XXXX. of fiscal million range for XX to million with $XXX Revenue a midpoint million to Adjusted approximately XX% be $X.XX supporting share earnings share. to $X.XX $XX growth non-GAAP $XX is of is EBITDA year-over-year. expected $XXX per be guidance million and quarter operations now to to to expected be per

As continue I of to margin the stand-alone EBITDA around adjusted the said fiscal expect we XX% by return earlier fourth to XXXX. business to quarter

capital we to will approximately million rate $XX full-year of XX%. to the be in range million building approximately the For XX% the $XX for China million expect tax sciences that site. estimate support We expenditures including non-GAAP the be in genomics life to of $XX

now Turning XX. Slide to

We remarks. will our up prepared wrap

are We truly company. a sciences one-of-a-kind life

complete even will continue profit once of sale this And capability profitable more semi We you we business. to as clearly I deliver mentioned, growth. see the the strong

strategic sheet XXXX. stronger in the balance strong we half expect of the sale with the calendar of expected investment, business a semi which have first We of even for completion grow to

We upon completion have of approximately cash sale. today an $X.X million with balance position of a anticipated $XXX around this billion net

We business. the Azenta launch Life excited are of the about Science

we group at of link Sara our if questions. have call and target Investor to concludes Tuesday our with of We Please to website. And you And Relations, I'll speaking in XX, for week. take analysts remarks. out as look registration now X:XX describing we to Investor will our A Day, any team to We November starting a.m. fiscal business turn on course, our back Events and outlook. objectives welcome a will of join our we the provide prepared virtual management a available next year investors time. our your XXXX. be broader to Head over capabilities attend Investor model questions. of presenting have a Relations to the the three-year is Silverman, new page Eastern forward next hosting virtually operator you reach section the This all


[Operator line Instructions] from Saxon David First Needham. question with open. your And is is

David Saxon

SRS GENEWIZ. thanks first so and on on taking my is, the is I questions two questions. afternoon guess Good for Great. second much and

think the around I ex SRS you For XX%. it said alliance grew

You inflows expansion some the et capacity starting Clinic sample noted steady in Cleveland cetera. and

could also wondering just if you the fiscal in just frame, XXXX. we about how SRS be first So but should fiscal thinking quarter

Lindon Robertson

The for for Thanks growth been has business. already picked to through seen their as activity highlighted David. two Hi, nice SRS supporting types and engaged the We've collection. XXXX. global global the customers Yes. two up on really a start looking past this. are we're of lot us One we've we've that in sample

an So infrastructure as engaged And that you've we've XXXX well. seen -- we're vaccine really as also their extension of and activity. then additional in secondly, in management

exception. Services stable as business QX, our look be no So go And to we does into it's quite and expanding. on SRS, the

stronger look as expansion our into we is the we services fact that December the into go step QX when In quarter. business,

here and The about think continues. the excited we're I does So, quite momentum strength it.

Steve Schwartz

SRS is David, uncertainty little around give I'll Steve. Hey bit a business. and more the this certainty

the recently kind similar month have Europe of and of North about the current gave this one, American their talked two us our to we European So large companies biorepository. all in do starting that almost relocated samples. we we're And samples with basically pharma move to all

So it's a phased stage here.

the won, from one collections multiple we consolidating the On sample we're that most sites. recently

the we at all the we simultaneously. a to out that XX our and have biorepositories, we characterizing ultimately we the do samples people collections. activity clinical -- trial move while on actually dispatched sample sites than have more with while But them then going cataloging, team So -- the

contract thing always we we're we're commitment, making were and concerned and to customers. And past, great these a So projects. about quite active. these mobilized There move the we was that sign The are to phases can we in each and mobilize of progress. get two it found they a multiple the that then as they're tough move fast is sometimes particular as we can customers What for was and active.

we're going things pretty for it's in outlook pipeline. first after large how see put and quarter. course the we the the business our companies dependable in of us in to next second So, behind of terms both our And

David Saxon

just my Is with Okay. taking talk you into opportunity Thanks that. GENEWIZ? much the just stage? fairly platform Thanks GENEWIZ. And Can have meaningful is so SRS on the from the for early cross-selling you that second for is questions. or it still about today,

Steve Schwartz


meaningful a business. of and as David, company. the from things. beginning of it's activity It's the there's for lot of we're couple Azenta, generate a standpoint focus a to So And

get levels talk already So as matter commercial unified It's it. the be you'll of we've lower of We used we next more see to Day it business meaningful. entire multiple exit our But and measurable some time week Analyst XXXX, purchase organization right next the the business in to engagements of prepared now capabilities a hear ourselves the lot specifics but will customers getting behind but a to we'll we've strong. us, number from around But By at it customers' that question. are the getting week activity. commercial that. formalize a and mobilized large organization answering how

It's with not of collection a transactions. a multiple capabilities single transaction it's So embedded.

services come we little bit report of will to synergies start So the business. that next and to we'll that color the SRS give the between genomic a week on and

David Saxon

quarter. Great. the Thanks and congrats on

Lindon Robertson

Thanks, David.

Steve Schwartz

you. Thank


question is ahead. next The Capital go with Mike Instructions] Markets. KeyBanc Please Gokay from [Operator

Mike Gokay

you Lindon off. FY the XX% guess compared million to those XX% think to you takes And just time. provide year. the it COVID-related Day midpoint the just the up. of coming for in discounting revenues fully XQ here you'll implies last I and I'm you there? Thanks are guys. then about Analyst here? turning on $XX Can was But what came XQ puts the talk to guide, kind I Hey, just about at guessing XXXX

Lindon Robertson

discounting at when QX on last What a had and quarter, totally is in you're had this wraparound when a quarter-to-quarter seeing recall that which genomics the quarter quite it. a lot the So flat almost catch-up not -- really QX I'm Mike the rebound business, sorry sequentially accelerated from you'll year December on we rebound we in point.

strength into I'll the services that we're a with color. granted a quarter. having -- we not are I'm spoke to Now the not We dynamics, But that. December little complacent the business for taking just add nor little

do while is was large for as our on will in it completed of absorb it a I to budgets We cryo Our quarter to will store just record people calendar expect touch our work We stores and bit a And products had wait a on take more. just a be to year well too remarkable large the our business they've taken the products new quarter, softer what believe softer. and little continue some being our next total. bit in expecting And we had projects. growth what system consumables systems be little and softer. placed placements

even say back atmosphere into us calculation of GENEWIZ you see the this So bringing so -- products, expectation, in rate. I'd growth XX%, your down of more but XX% it's that on I around midpoint this stronger that's But and as softer the compare the little expansion can think the as just high-teens, a a the little SRS as the I on on our on still both quarter-to-quarter on on highlighted services business.

Mike Gokay

I see out bit? And that is think, Steve, then you you customers XX% obviously validation I starting CGMP that also put it accepted and And customers it multiple line units, that to customers able you in the the being number to be in buy specifically terms -- the to of most a kind think cell the manufacturing therapy? accelerated but unpack cryo are the are starting little it more you growth and there? reported Can stores. the you're for Are seeing seeing of was in gene stood seeing setting and of in Great.

Steve Schwartz

to starting indeed it. are we see Yes

On and shipments revenue. record by biggest cryo space. in in in was far we a quarter the far had quarter the It by the

shipped starting in seven we to here therapy for units see gene locally and episodically, but a We're company. beginning local cell in. to to Massachusetts fill Just those they're

I without and that traction in we're it's So time us. for getting think question exciting space

can't really critical frequently. have expectations momentum tell see understanding XXXX. we're coming in at the to And I business at that it's especially need like the to beginning more do those those temperatures So we and here going we'll beginning but the automation see sustain for that, And here for you quarters is samples people handling pretty building. fiscal cryogenic high

Mike Gokay

time. Great. for Thanks the


I'd it Robertson turn the from have to for Lindon back We phone. like to remarks. closing nothing

Lindon Robertson

a we tuned sets dynamics us look interest with in more who have forward telling in next us. Life with that week. significant Day. And really much Sciences obviously for much. of certainly It more some to business. But our quarter you stage forward to in you All we right. we was and and you for with Thank those you appreciate transformational And time tuning about very your year very this much. of Investor us you on the Azenta change us that look with for our Tuesday a following the launch Thank at and


And that for our for participating And now and thank may today. you everyone does disconnect. call we conclude