Azenta, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Azenta, Inc. (AZTA) filed its Q2 2024 10-Q, detailing financial data and historical company name changes.</b>

AI Summary

Azenta, Inc. (AZTA) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Azenta, Inc. filed a 10-Q report for the period ending March 31, 2024. The company was formerly known as Brooks Automation, Inc. The filing includes data related to various equity and accumulated other comprehensive income accounts for multiple fiscal periods. Specific financial statement line items such as 'Other Assets Noncurrent' and 'Asset Impairment Charges' are referenced. The company's fiscal year ends on September 30th.

Why It Matters

For investors and stakeholders tracking Azenta, Inc., this filing contains several important signals. This filing provides a snapshot of Azenta's financial health and equity structure as of Q2 2024, crucial for investors assessing performance and stability. Understanding the historical name changes (Brooks Automation, Inc.) is important for tracking the company's evolution and market perception over time.

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 indicators of significant new risks.

Analyst Insight

Monitor future filings for trends in 'Asset Impairment Charges' and changes in equity accounts to gauge operational efficiency and financial strategy.

Key Numbers

• 136880000 — Other Assets Noncurrent (As of 2024-03-31)
• 4927000 — Asset Impairment Charges (As of 2024-03-31)
• 152604000 — Prepaid Expense and Other Assets Current (As of 2024-03-31)
• 16162000 — Prepaid Expense and Other Assets Current (As of 2023-12-31)

Key Players & Entities

• Azenta, Inc. (company) — Filer name
• Brooks Automation, Inc. (company) — Former company name
• 2024-03-31 (date) — Period of report
• 2024-05-09 (date) — Filing date

FAQ

Industry Context

Azenta, Inc. operates in the specialty machinery sector, providing solutions for life sciences and advanced technology markets.

Regulatory Implications

As a publicly traded company, Azenta is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management discussion.
2. Track year-over-year changes in key financial metrics presented in the filing.
3. Research any specific disclosures related to 'Asset Impairment Charges' for potential operational insights.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during a specific quarter.)

Other Assets Noncurrent

Assets that are not expected to be converted to cash within one year. (Indicates long-term investments or resources of the company.)

Asset Impairment Charges

A reduction in the carrying value of an asset when its recoverable amount falls below its book value. (Can signal issues with the value or future utility of company assets.)

Year-Over-Year Comparison

This filing is a standard 10-Q and does not appear to contain comparative data against a prior 10-Q within the provided snippet.

Key Financial Figures

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

Filing Documents

• azta-20240331x10q.htm (10-Q) — 2908KB
• azta-20240331xex31d1.htm (EX-31.1) — 14KB
• azta-20240331xex31d2.htm (EX-31.2) — 14KB
• azta-20240331xex32.htm (EX-32) — 13KB
• 0001558370-24-007628.txt (&nbsp;) — 11449KB
• azta-20240331.xsd (EX-101.SCH) — 67KB
• azta-20240331_cal.xml (EX-101.CAL) — 71KB
• azta-20240331_def.xml (EX-101.DEF) — 282KB
• azta-20240331_lab.xml (EX-101.LAB) — 574KB
• azta-20240331_pre.xml (EX-101.PRE) — 493KB
• azta-20240331x10q_htm.xml (XML) — 2222KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 5 Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and September 30, 2023 5 Condensed Consolidated Statements of Operations for the three and six months ended March 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended March 31, 2024 and 2023 (unaudited) 7 Condensed Consolidated Statements of Cash Flows for the six months ended March 31, 2024 and 2023 (unaudited) 8 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three and six months ended March 31, 2024 and 2023 (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 30

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 43

Controls and Procedures

Item 4. Controls and Procedures 44

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 45

Risk Factors

Item 1A. Risk Factors 45

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45

Other Information

Item 5. Other Information 46

Exhibits

Item 6. Exhibits 46

Signatures

Signatures 47 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) March 31, September 30 , 2024 2023 Assets Current assets Cash and cash equivalents $ 353,491 $ 678,910 Short-term marketable securities 468,220 338,873 Accounts receivable, net of allowance for expected credit losses ($ 6,844 and $ 8,057 , respectively) 154,668 156,535 Inventories 122,351 128,198 Derivative asset 350 13,036 Short-term restricted cash 3,089 4,650 Prepaid expenses and other current assets 87,897 98,754 Total current assets 1,190,066 1,418,956 Property, plant and equipment, net 200,905 205,744 Long-term marketable securities 143,018 111,338 Long-term deferred tax assets 925 571 Operating lease right-of-use assets 69,662 66,580 Goodwill 681,140 784,339 Intangible assets, net 267,626 294,301 Other assets 10,155 3,891 Total assets $ 2,563,497 $ 2,885,720 Liabilities and stockholders' equity Current liabilities Accounts payable $ 37,319 $ 35,796 Deferred revenue 38,323 34,614 Accrued warranty and retrofit costs 9,745 10,223 Accrued compensation and benefits 27,985 33,911 Accrued customer deposits 21,772 17,707 Accrued income taxes payable 10,706 7,378 Short-term operating lease liability 10,802 9,499 Accrued expenses and other current liabilities 46,347 61,800 Total current liabilities 202,999 210,928 Long-term tax reserves 377 380 Long-term deferred tax liabilities 62,267 67,301 Long-term operating lease liabilities 63,374 60,436 Other long-term liabilities 11,609 12,175 Total liabilities 340,626 351,220 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, 68,464,925 shares issued and 54,614,041 shares outstand

View Full Filing

View this 10-Q filing on SEC EDGAR