Azenta, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Azenta, Inc. (AZTA) has filed its Q1 2024 10-Q report, detailing financial performance and corporate information.</b>

AI Summary

Azenta, Inc. (AZTA) filed a Quarterly Report (10-Q) with the SEC on February 8, 2024. Azenta, Inc. filed its 10-Q report for the period ending December 31, 2023. The filing covers the first quarter of fiscal year 2024. The company was formerly known as Brooks Automation, Inc. Azenta, Inc. is incorporated in Delaware. The company's principal executive offices are located in Burlington, MA.

Why It Matters

For investors and stakeholders tracking Azenta, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, enabling them to assess the company's performance and make informed investment decisions. Understanding the company's historical name changes and corporate structure is crucial for long-term investors tracking its evolution and strategic shifts.

Risk Assessment

Risk Level: low — Azenta, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags.

Analyst Insight

Monitor future 10-Q filings for revenue trends, profitability, and any changes in debt levels.

Key Numbers

• 20231231 — Period of Report End Date (Conformed Period of Report)
• 20240208 — Filing Date (Filed as of date)
• 0930 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• Azenta, Inc. (company) — Filer name
• Brooks Automation, Inc. (company) — Former company name
• Burlington, MA (location) — Business address city and state
• DE (location) — State of incorporation

Forward-Looking Statements

• The reduction in treasury stock suggests Azenta may have engaged in share repurchases, which could lead to a higher earnings per share (EPS) in future reports. (Azenta, Inc.) — medium confidence, target: Next earnings report

FAQ

Industry Context

Azenta operates in the life sciences and advanced technology sectors, providing solutions for sample management, automation, and genomics.

Regulatory Implications

Companies in this sector are subject to various regulations related to data privacy, product safety, and environmental standards.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management's discussion and analysis.
2. Compare Azenta's Q1 2024 results with previous quarters and analyst expectations.
3. Track any disclosures regarding new products, partnerships, or strategic initiatives.

Key Dates

• 2023-12-31: Period End Date — End of the reporting quarter for financial statements.
• 2024-02-08: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending December 31, 2023, following the standard quarterly reporting cycle.

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value AZTA The Nasdaq Stock Mar

Filing Documents

• azta-20231231x10q.htm (10-Q) — 1958KB
• azta-20231231xex10d1.htm (EX-10.1) — 9KB
• azta-20231231xex10d2.htm (EX-10.2) — 65KB
• azta-20231231xex31d01.htm (EX-31.01) — 14KB
• azta-20231231xex31d02.htm (EX-31.02) — 14KB
• azta-20231231xex32.htm (EX-32) — 13KB
• azta-20231231xex10d1001.jpg (GRAPHIC) — 5KB
• azta-20231231xex10d2001.jpg (GRAPHIC) — 5KB
• 0001558370-24-000902.txt (&nbsp;) — 9287KB
• azta-20231231.xsd (EX-101.SCH) — 61KB
• azta-20231231_cal.xml (EX-101.CAL) — 63KB
• azta-20231231_def.xml (EX-101.DEF) — 261KB
• azta-20231231_lab.xml (EX-101.LAB) — 543KB
• azta-20231231_pre.xml (EX-101.PRE) — 454KB
• azta-20231231x10q_htm.xml (XML) — 1666KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 5 Condensed Consolidated Balance Sheets as of December 31, 2023 (unaudited) and September 30, 2023 5 Condensed Consolidated Statements of Operations for the three months ended December 31, 2023 and 2022 (unaudited) 6 Condensed Consolidated Statements of Comprehensive Income for the three months ended December 31, 2023 and 2022 (unaudited) 7 Condensed Consolidated Statements of Cash Flows for the three months ended December 31, 2023 and 2022 (unaudited) 8 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three months ended December 31, 2023 and 2022 (unaudited) 9 Notes to Condensed Consolidated Financial Statements (unaudited) 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 38

Controls and Procedures

Item 4. Controls and Procedures 39

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 40

Risk Factors

Item 1A. Risk Factors 40

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40

Other Information

Item 5. Other Information 40

Exhibits

Item 6. Exhibits 41

Signatures

Signatures 42 2 Table of Contents INFORMATION RELATED TO FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q 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 (the "Securities Act"); and Section-21E of the Securities Exchange Act of 1934, as amended (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, our share repurchase authorization, 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 our business transformation initiatives, our ability to continue t

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements AZENTA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (In thousands, except share and per share data) December 31, September 30 , 2023 2023 Assets Current assets Cash and cash equivalents $ 702,923 $ 678,910 Short-term marketable securities 281,212 338,873 Accounts receivable, net of allowance for expected credit losses ($ 7,465 and $ 8,057 , respectively) 155,926 156,535 Inventories 127,184 128,198 Derivative asset — 13,036 Short-term restricted cash 4,792 4,650 Prepaid expenses and other current assets 110,764 98,754 Total current assets 1,382,801 1,418,956 Property, plant and equipment, net 210,628 205,744 Long-term marketable securities 61,962 111,338 Long-term deferred tax assets 1,341 571 Goodwill 800,166 784,339 Intangible assets, net 290,229 294,301 Other assets 77,187 70,471 Total assets $ 2,824,314 $ 2,885,720 Liabilities and stockholders' equity Current liabilities Accounts payable $ 40,237 $ 35,796 Deferred revenue 34,813 34,614 Accrued warranty and retrofit costs 10,047 10,223 Accrued compensation and benefits 33,368 33,911 Accrued customer deposits 23,432 17,707 Accrued VAT payable 24,033 20,595 Accrued income taxes payable 13,228 7,378 Accrued expenses and other current liabilities 56,462 50,704 Total current liabilities 235,620 210,928 Long-term tax reserves 369 380 Long-term deferred tax liabilities 65,865 67,301 Long-term operating lease liabilities 66,479 60,436 Other long-term liabilities 12,317 12,175 Total liabilities 380,650 351,220 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, 69,180,281 shares issued and 55,718,412 shares outstanding at December 31, 2023, 71,294,247 shares issued and 57,832,378 s

View Full Filing

View this 10-Q filing on SEC EDGAR