Azenta (AZTA) 47th Annual Raymond James Institutional Investor Conference summary

Business Overview and Market Position

• Operates in life science tools and diagnostics, serving top 20 global pharma and biotech firms.

• Manages over 60 million samples globally, with a deep installed base and recurring revenue focus.

• Two main business segments: sample management solutions (biorepositories, automation) and multiomics (gene reading/writing).

• Recurring revenue accounts for 55% of total, with a strong presence in pharma, biotech, academic, and government sectors.

• Addressable market is $6 billion, with current share at about 10%.

Strategic Priorities and Operational Changes

• Focused on operational excellence, quality, on-time delivery, and customer performance.

• Decentralized organization, reduced G&A, and reallocated resources to R&D and sales/marketing.

• Divested non-core assets and streamlined management structure.

• Implemented monthly business reviews and KPIs for quality, delivery, growth, margin, and employee metrics.

• Leaner, regionally accountable organization enables faster decision-making and improved customer proximity.

Financial Outlook and Capital Deployment

• Plans to generate $200–$250 million in free cash flow over the next three years.

• Aims to double EBITDA in three years, with $550 million in cash on the balance sheet.

• Capital allocated to margin/productivity, growth investments, M&A, and buybacks.

• Biorepository business offers 90% recurring revenue and 55%+ gross margin.

• Working capital improvements and free cash flow generation are new and ongoing priorities.