Azenta, Inc.

Greetings and welcome to Azenta Q1 2026 Financial Results. During the presentation, all participants will be in listen-only mode. Afterwards, we will conduct a question-and-answer session. At that time, if you have a question, please press the star followed by 1 on your telephone. As a reminder, this conference is being recorded Wednesday, February 4, 2026. 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 first quarter of fiscal year 2026. Our first 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 on 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 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 Murata, and 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 for our first quarter earnings call. As we start fiscal 2026, I want to acknowledge the focus, discipline, and execution our teams continue to demonstrate across the Zenta. Their commitment to serving our customers and continuously improving how we operate is central to our momentum and is driving meaningful progress across the business. Because of their efforts, we are entering the year well-positioned for continued success. Together, we are building a stronger, more agile, and high-performing Aventa. As I have said before, our turnaround continues, and it will not be a straight line. No turnaround is. After establishing a stronger organization and structural foundation last year, we are accelerating efforts to streamline processes and elevate performance. While macro conditions remain mixed, we enter the year with a much stronger foundation, clearer accountability, and a sharper strategic focus. This is the playbook for a successful turnaround, and I am confident in the path we are taking. Our priorities for 2026 are clear. Embed operational excellence throughout the organization, accelerate growth and expand margins, and the strategic and disciplined capital deployment. These are the pillars that will drive Azenta to outperform the market and deliver long-term value creation for our customers, employees, and our shareholders. In the first quarter, organic revenue declined in line with our expectations down approximately 1%. As we discussed last quarter, our outlook incorporated continued uncertainty in the macro environment, particularly around capital spending and academia and government funding. And those dynamics largely played out as anticipated. For a market perspective, conditions remain uneven. Capital spending decisions continue to be cautious across parts of the life sciences ecosystem. We see positive momentum across Europe And while the U.S. is still slow, we are cautiously optimistic with improvement in the capital markets as well as renewed M&A activity. Bookings during the quarter were impacted by weak capital spending and the government shutdown at the end of the calendar year. While this is causing timing shifts, we expect these orders to be recognized in the future quarters and do not anticipate it to impact the full year results. Over the coming months, we expect greater clarity around government and academic funding, which we believe will offer greater stability across end markets broadly. 2026 is shaping up to be a transitional year for the life sciences sector, with macro conditions and sentiment being mixed, yet the underlying industry tailwinds remain consistent. Last year, we demonstrated Azenta's ability to deliver on our commitments, even in a challenging environment. proving that we can execute with discipline and precision. These strengths provide a solid foundation as we advance our turnaround initiatives this year. We anticipate acceleration in the second half of 2026 as delayed approvals are processed, capital investment ramps, and our growth investments begin to take hold. Importantly, The current environment highlights why Azenta is the partner of choice for life sciences customers navigating complexity and change. Our differentiated solutions and deep expertise uniquely position Azenta to help our customers optimize operations, accelerate innovation, and manage resources more effectively. We are the trusted partner for organizations seeking scale, reliability, and differentiation with an expert team that knows the science, understands the workflows, and delivers results for our customers. The combination of expertise, technology, and operational discipline enables Azenta to turn challenges into opportunities. Operational excellence is the engine behind everything we do. The Azenta business system continues to guide how we operate, driving measurable improvements in on-time delivery, quality and productivity across operations, commercial, and support functions. During the quarter, we advanced ABS deployment through Kaizen's daily management routines and problem solving that are taking root. Teams across the organization are embracing a continuous improvement mindset, proactively identifying opportunities and shaping solutions that enhance efficiency and execution company-wide. ABS is not just a set of processes. It's a differentiator for Adzenta, enabling sustainable, scalable operational excellence that supports both growth and margin expansion and reinforces our ability to deliver for our customers and our shareholders alike. We also continue to benefit from the simplified and decentralized operating model implemented last year. Clearer accountability at the operating company levels supports faster decision-making and more disciplined execution. Productivity gains are being reinvested in line with our priorities, including commercial excellence, innovation, and customer-facing capabilities. Our core growth investments in scaling biorepositories, regionalizing gene synthesis, and investing in technology and automation are gaining traction. During the quarter, we announced the definitive agreement for the sale of B Medical, which is expected to close on or before March 31st. This transaction further sharpens our focus on our core portfolio of differentiated solutions and enhances our financial flexibility, supporting our strategic approach to future capital allocation. Combined with the $250 million share repurchase authorization announced at Investor Day, These actions reflect our ongoing commitment to delivering value to our shareholders while strategically deploying capital. Let me cover a bit more in the first quarter performance in our full year outlook. As expected, on a year-over-year basis, organic revenue declined approximately 1%. Within multiomics, next generation sequencing and gene synthesis showed growth, reflecting continued customer demand for advanced workflows and the value of our differentiated solutions. In sample management solutions, we saw solid growth in biorepositories demonstrating strong execution and sustained customer adoption, while our automated solutions line remained under pressure, particularly in stores, due to ongoing budget constraints. As I've said, turnarounds are never linear and may be lumpy. In the quarter, we faced higher costs in automated stores on late-stage projects related to quality issues that remained from last year. We're working closely with our customers to make it right and expect to lapse these issues post the second quarter. In multi-omics, we experienced regional mixed dynamics with softness in North America leading to lab inefficiency. We are taking decisive actions to address these pressures. We expect margins to improve as we progress through the second half of the year and execute on the transformation of our company. Lawrence will go into more detail on our quarterly financial performance. Lastly, as you know, we do not guide quarterly. Our operating rhythm in the businesses to drive performance is monthly. Yes, our job just got harder, and looking ahead, we are committed to our full-year 2026 guidance of 3-5% organic revenue growth and adjusted EBITDA margin expansion of approximately 300 basis points. While macro conditions remain mixed, we view 2026 as a transitional year for the sector, and we are confident that our initiatives, including the revamped commercial engine, strong leadership, and disciplined execution will gain traction as the year progresses. With that, I'll turn it over to Lawrence to walk through the financials in more detail.