Azenta, Inc.

Azenta, Inc. reported a significant net loss of $(160.8) million for the three months ended March 31, 2026, primarily driven by a $149.1 million impairment of goodwill and intangible assets. This compares to a net loss of $(47.7) million in the same period last year. The company also announced a delay in the divestment of its B Medical Systems business, as the buyer has not yet secured the required financing. Total revenue for the quarter saw a modest increase to $144.8 million from $143.3 million year-over-year.

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.

Azenta, Inc. announced that Ginger Zhou stepped down as President of the Multiomics business, and William "Trey" E. Martin III was appointed as her replacement, effective April 6, 2026. Martin's prior experience as CEO of Maravai LifeSciences Holdings suggests a strategic move to leverage his expertise in the life sciences sector, while Zhou will continue in an advisory role.

Azenta, Inc. announced that Ginger Zhou stepped down as President of the Multiomics business, and William "Trey" E. Martin III was appointed as her replacement, effective April 6, 2026. Zhou will continue in an advisory role through November 2026 with a consulting fee of $103,500, while Martin brings experience as former CEO of Maravai LifeSciences Holdings, Inc., potentially signaling a strategic shift or renewed focus on the Multiomics business.