Azenta, Inc.

Greetings and welcome to the Azenta Q4 2025 Financial Results. During the presentation, all participants will be in the listen-only mode. Afterwards, we will conduct a question and answer session. At that time, if you have a question, please press star followed by the one on your telephone. As a reminder, this conference is being recorded Friday, November 21, 2025. I will now turn the conference over to Yvonne. Perron, Vice President, FP&A, and Investor Relations.

Thank you, Operator, and good morning to everyone on the line today. We would like to welcome you to our earnings conference call for the fourth quarter of fiscal year 2025. Our fourth quarter earnings press release was issued before the open of the market today and is available on our investor relations website located at investors.azenta.com in addition to the supplementary PowerPoint slides that will be used during the prepared remarks today. Please note that effective the first fiscal quarter of 2025, the results of B Medical Systems are treated as discontinued operations. I would like to remind everyone that during the course of the call, we will be making a number of forward looking statements within the meaning of the Private Litigation Securities Act of 1995. There are many factors that may cause actual financial results or other events to differ from those identified in such forward looking statements. I would refer you to the section of our earnings release titled Safe Harbor Statement, the Safe Harbor slide on the aforementioned PowerPoint presentation on our website and our various filings with the SEC, including our annual reports on Form 10-K and our quarterly reports on Form 10-Q. We make no obligation to update these statements should future financial data or events occur that differ from the forward-looking statements presented today. We may refer to a number of non-GAAP financial measures which are used in addition to and in conjunction with results presented in accordance with GAAP. We believe the non-GAAP measures provide an additional way of viewing aspects of our operations and performance, but when considered with GAAP financial results and the reconciliation of the GAAP measures, they provide an even more complete understanding of the Azenta business. Non-GAAP measures should not be relied upon to the exclusion of the GAAP measures themselves. On the call with me today is our President and Chief Executive Officer, John Marotta, and our Executive Vice President and Chief Financial Officer, Lawrence Lin. We will open the call with remarks from John, then Lawrence will provide a detailed look into our financial results and our outlook for fiscal year 2026. We will then take your questions at the end of the prepared remarks. With that, I would like to turn the call over to our CEO, John Murata.

Thank you, Yvonne. Good morning, everyone, and thank you for joining us today. As we reflect on fiscal 2025, I want to begin by recognizing our Zenta employees around the world. Their dedication, resilience, and unwavering focus on our customers and our purpose, enabling breakthroughs faster, have been the driving force behind our successes to date. At the start of the year, we set out to refocus the organization, put the customer at the core of everything we do to simplify how we operate, to improve execution, and to build a company position for durable, profitable growth and long-term value creation. We've made considerable progress, but we have also recognized we have more to do, which excites us about the road ahead. The opportunities in front of us are significant. We're energized by the potential to deepen our impact, sharpen our execution, and continue delivering for our customers, our employees, and our shareholders. We've created a simpler, more accountable organization through the implementation of the Aventa Business System, ABS, which is the framework for how we operate. It brings together lean principles, daily management routines, and structured problem-solving. This year, we trained teams and conducted Kaizens in manufacturing, commercial, and support functions, and delivered measurable improvements in quality, on-time delivery, and overall productivity. These results are just the start. What's most meaningful is the cultural shift in momentum. Operational excellence is no longer just a goal. It's embedded in how our teams work every day. Employees are identifying inefficiencies and driving change from the ground up. We have simplified our structure. We have moved from a complex, centralized model to one that empowers our operating companies with clearer accountability and a greater agility. Decision-making is now faster, closer to the customer, and grounded in data and outcomes. We've reinvested savings in line with our growth priorities, innovation, sales, marketing, and product management. These changes are making Aventa a more growth-focused and efficient company. The strength of our balance sheet, with over half a billion dollars in cash, cash equivalents, and marketable securities, gives us the financial flexibility to invest with discipline across four strategic levers, driving productivity, accelerating organic growth, returning capital to shareholders through share repurchases, and pursuing targeted tuck-in M&A. we will have clear accountability for outcomes, reinforcing our commitment to value creation and operational excellence. We remain well positioned to invest for our future while delivering sustainable returns and creating long-term value. In fiscal 2025, we achieved 3% core growth and delivered meaningful margin expansion of 310 basis points. Beyond our financial results, we took decisive steps to reshape our commercial organization, With the right leadership in place, an expanded field presence, and a sharpened go-to-market targeting, we're well positioned to serve our customers and accelerate our growth trajectory. It's important to recognize that all of this took place amid a volatile and uncertain macro backdrop, characterized by softer academic and NIH funding, shifting biopharma priorities, and ongoing geopolitical uncertainty. Yet, through these challenges, Azenta demonstrated its resilience. Our differentiated portfolio delivers critical solutions that uniquely support our customers, ranging from sample management of irreplaceable assets to automated product workflows, warehouse and inventory optimization, and comprehensive testing of samples and data that underpin life sciences research and production. We're confident not only in our ability to navigate volatility, but to capitalize on it. This environment has also created opportunities. As customers look to do more with less, they are consolidating partners, outsourcing non-core operations, and investing in automation and digital workflows, all areas where Azenta is positioned to lead. We're seeing new partnership discussions emerge precisely because of our reputation for expertise, quality, reliability, and execution. Our customers are looking for partners they can trust, and Azenta is that partner. As we look ahead to fiscal 2026, we're entering the year from a position of strength. Although macroeconomic uncertainty continues to persist, We have reshaped the organization, instilled a culture of accountability and continuous improvement, and set a strong operational foundation. Our priorities are clear. Continue to deliver core growth and margin expansion. Embed the Azenta business system deeper across the organization to further improve our operational discipline and productivity, and to deploy capital optimally in a disciplined approach. We anticipate core revenue growth between 3% to 5%, an expected adjusted EBITDA margin expansion of 300 basis points, and higher free cash flow generation as we scale our operational improvements. With a leaner structure, growth initiatives, enhanced ABS discipline, and a strong balance sheet, we believe we're positioned to outperform the market. Next month, we will host our Investor Day, where we will outline the next phase of the Azenta journey, including our multi-year growth strategy, long-term financial framework, and capital deployment priorities. We look forward to sharing how our strategy positions us for profitable growth and value creation. We are a stronger company today, operationally, culturally, and strategically, and we are confident in the path ahead. With that, I'll turn the call over to Lawrence for a detailed review of our financial results.