The following is a summary of the Azenta, Inc. (AZTA) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Azenta reported Q2 2024 revenue of $159 million, a 7% increase in reported and organic figures.

• Non-GAAP gross margin increased to 44.3%, a year-over-year growth of 310 basis points.

• The company's adjusted EBITDA was reported at 5.9% for Q2 with a non-GAAP EPS of $0.05.

• Free cash flow consistently hit $2 million for the fourth consecutive quarter.

• As of the end of the quarter, the company had $975 million in cash, cash equivalents, and marketable securities.

Business Progress:

• New products and services have been launched across all business segments, driving revenues up in all three sectors.

• Strategic investments bolster product and service differentiation, with an increasing number of collected samples supporting future discoveries.

• B Medical segment contributed $23 million to the revenue, with a focus on vaccine cold chain product lines planned.

• The company is forecasting improved performances for B Medical Product lines through close monitoring.

• The China market has performed exceptionally well with double-digit growth for the past four quarters, driven by aggressive sales and production capacity expansion.

More details: Azenta IR

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