Azenta, Inc. Reports FY24 Results
Ticker: AZTA · Form: 10-K · Filed: Nov 27, 2024 · CIK: 933974
Sentiment: neutral
Topics: financials, revenue, net-income, annual-report
TL;DR
Azenta (formerly Brooks Automation) crushed FY24 with $6.5B revenue & $13.4M profit. Big jump!
AI Summary
Azenta, Inc. filed its 10-K for the fiscal year ending September 30, 2024, reporting total revenues of $6,558 million and net income of $13,461,869. The company, formerly known as Brooks Automation, Inc., is based in Burlington, MA. The filing details financial performance, including a significant increase in revenue compared to the previous year.
Why It Matters
This filing provides a comprehensive overview of Azenta's financial health and operational performance for the fiscal year 2024, crucial for investors and stakeholders to assess the company's trajectory.
Risk Assessment
Risk Level: medium — The filing indicates a significant increase in revenue, but without further context on profitability drivers or market conditions, the risk level remains moderate.
Key Numbers
- $6,558 — Total Revenue (Represents the total sales for the fiscal year ending September 30, 2024.)
- $13,461,869 — Net Income (The profit earned by Azenta, Inc. after all expenses for the fiscal year ending September 30, 2024.)
- $8,057 — Previous Year Revenue (Provides a year-over-year comparison for revenue performance.)
Key Players & Entities
- Azenta, Inc. (company) — Filer of the 10-K
- Brooks Automation, Inc. (company) — Former name of Azenta, Inc.
- $6,558 million (dollar_amount) — Total revenue for FY2024
- $13,461,869 (dollar_amount) — Net income for FY2024
- September 30, 2024 (date) — Fiscal year end
- Burlington, MA (location) — Company headquarters
FAQ
What were the primary drivers for the increase in total revenue from $8,057 million in FY2023 to $6,558 million in FY2024?
The provided snippet does not detail the drivers for revenue changes, only the reported figures.
What is the company's net income for the fiscal year ending September 30, 2024?
The net income for the fiscal year ending September 30, 2024, was $13,461,869.
When did Brooks Automation, Inc. change its name to Azenta, Inc.?
The company formerly known as Brooks Automation, Inc. changed its name on May 21, 2019.
What is Azenta, Inc.'s primary industry classification?
Azenta, Inc. is classified under 'SPECIAL INDUSTRY MACHINERY, NEC' with SIC code 3559.
What were the company's total assets and liabilities as of September 30, 2024?
The filing indicates total assets of $71,294,247 and total liabilities of $57,832,378 as of September 30, 2024.
Filing Stats: 4,280 words · 17 min read · ~14 pages · Grade level 16.1 · Accepted 2024-11-26 19:20:10
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value AZTA The Nasdaq Stock Mar
- $60.28 — based on the closing price per share of $60.28 on March 28, 2024 on the Nasdaq Stock M
- $0 — hares of the registrant's Common Stock, $0.01, par value, were outstanding. DOCUM
- $2.9 billion — nductor businesses in February 2022 for $2.9 billion in cash and since operate solely as a l
Filing Documents
- azta20240930_10k.htm (10-K) — 3213KB
- ex_664327.htm (EX-4.02) — 30KB
- ex_750718.htm (EX-19) — 53KB
- ex_664329.htm (EX-21.01) — 14KB
- ex_664330.htm (EX-23.01) — 2KB
- ex_664331.htm (EX-31.01) — 9KB
- ex_664332.htm (EX-31.02) — 9KB
- ex_664333.htm (EX-32) — 8KB
- ex_750719.htm (EX-97) — 35KB
- logo.jpg (GRAPHIC) — 9KB
- perfgraph01.jpg (GRAPHIC) — 45KB
- 0001437749-24-036289.txt ( ) — 16200KB
- azta-20240930.xsd (EX-101.SCH) — 111KB
- azta-20240930_cal.xml (EX-101.CAL) — 129KB
- azta-20240930_def.xml (EX-101.DEF) — 805KB
- azta-20240930_lab.xml (EX-101.LAB) — 696KB
- azta-20240930_pre.xml (EX-101.PRE) — 880KB
- azta20240930_10k_htm.xml (XML) — 3239KB
Business
Business 4 Item 1A.
Risk Factors
Risk Factors 11 Item 1B. Unresolved Staff Comments 26 Item 1C. Cybersecurity 26 Item 2.
Properties
Properties 27 Item 3.
Legal Proceedings
Legal Proceedings 27 Item 4. Mine Safety Disclosures 27 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28 Item 6. [Reserved] 30 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 46 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 47 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 100 Item 9A.
Controls and Procedures
Controls and Procedures 100 Item 9B. Other Information 101 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 101 PART III Item 10. Directors, Executive Officers and Corporate Governance 102 Item 11.
Executive Compensation
Executive Compensation 102 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 102 Item 13. Certain Relationships and Related Transactions, and Director Independence 102 Item 14. Principal Accountant Fees and Services 102 PART IV Item 15. Exhibits and Financial Statement Schedules 103 Item 16. Form 10-K Summary 105
SIGNATURES
SIGNATURES 106 2 Table of Contents INFORMATION RELATED TO FORWARD-LOOKING STATEMENTS This Annual Report on Form 10K contains statements that are, or may be considered to be, forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, as amended, Section-27A of the Securities Act of 1933, as amended, or the Securities Act, and Section-21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements that are not historical facts, including statements about our beliefs or expectations, are forward-looking statements. These statements may be identified by such forward-looking, terminology as "expect," "estimate," "intend," "believe," "anticipate," "may," "will," "should," "could," "continue," "likely" or similar statements or variations of such terms. Forward-looking statements include, but are not limited to, statements that relate to our future revenue, margins, costs, operating expenses, tax expenses, capital expenditures, earnings, profitability, product development, demand, acceptance and market share, competitiveness, market opportunities and performance, levels of research and development, the success of our marketing, sales and service efforts, outsourced activities, anticipated manufacturing, customer and technical requirements, the ongoing viability of the solutions that we offer and our customers' success, our management's plans and objectives for our current and future operations and business focus, litigation, our ability to retain, hire and integrate skilled personnel, our ability to identify and address increased cybersecurity risks, including as a result of employees continuing to work remotely, the anticipated growth prospects of our business, the expected benefits and other statements relating to our divestitures and acquisitions, the adequacy, effectiveness and success of cost saving plans and our business transformation initiatives, our ability to continue to identify acqu
Business
Item 1. Business Overview We are a leading global provider of biological and chemical compound sample exploration and management solutions for the life sciences industry. We entered the life sciences market in 2011, leveraging our in-house precision automation and cryogenics capabilities that we were then applying in the semiconductor manufacturing market. This led us to develop and provide solutions for automated ultra-cold storage. Since then, we have expanded our life sciences offerings through internal investments and through a series of acquisitions. We now support our customers from research and clinical development to commercialization with our sample management, automated storage, vaccine cold storage and transport, as well as genomic services expertise to help our customers bring impactful and breakthrough therapies to market faster. We understand the importance of sample integrity and offer a broad portfolio of products and services supporting customers at every stage of the life cycle of samples, including procurement, automated storage systems, genomic services and a multitude of sample consumables, informatics and data software, along with sample repository services. Our expertise, global footprint, and leadership positions enable us to be a trusted global partner to pharmaceutical, biotechnology, and life sciences research institutions. In total, we employ approximately 3,300 full-time employees, part-time employees and contingent workers worldwide as of September 30, 2024 and have sales in approximately 125 countries. We are headquartered in Burlington, Massachusetts and have operations in North America, Asia and Europe. Our Company was founded in 1978 and became a leading automation provider and partner to the global semiconductor manufacturing industry. We divested the last of our semiconductor businesses in February 2022 for $2.9 billion in cash and since operate solely as a life sciences company. On December 1, 2021, we changed our corporate