Quarterly ResultMay 5, 2026, 04:47 PM
Azenta Q2 Revenue $145M; FY26 Guidance Lowered; LRP Extended to 2029
AI Summary
Azenta reported second-quarter fiscal 2026 financial results, with revenue of $145 million, up 1% year-over-year, but organic revenue declined 3%. The company significantly lowered its full-year fiscal 2026 guidance for total reported revenue, organic revenue growth, Adjusted EBITDA margin, and free cash flow, citing execution gaps and a cautious demand environment. Consequently, Azenta extended its long-range plan targets from 2028 to 2029. The sale of B Medical Systems did not close by March 31, 2026, as the buyer has not secured financing.
Key Highlights
- FY26 total reported revenue guidance lowered to $603-$621 million from prior expectations.
- FY26 organic revenue guidance revised to down 2% to up 1%, from prior 3%-5% growth.
- FY26 Adjusted EBITDA margin guidance lowered to decline 125 basis points to flat, from prior 300 basis points expansion.
- Q2 FY26 revenue from continuing operations was $145 million, up 1% YoY; organic revenue declined 3%.
- Q2 FY26 diluted EPS from continuing operations was ($3.41), compared to ($0.43) in prior year.
- Q2 FY26 Non-GAAP diluted EPS from continuing operations was ($0.04), compared to $0.01 in prior year.
- Q2 FY26 Adjusted EBITDA from continuing operations was $8 million, down 36% YoY, with a margin of 5.4%.
- Recognized a non-cash goodwill impairment charge of $149 million in Q2 FY26.
- Long-range plan timeline extended by one year, from 2028 to 2029.
- Sale of B Medical Systems for $63 million did not close by March 31, 2026, due to buyer's financing issues.