Azenta, Inc.

Greetings and welcome to Azenta Q3 2026 Fiscal Financial Results. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question and answer session. As a reminder, this conference is being recorded Wednesday, August 5, 2026. I will now turn the conference over to Yvonne Perron, Vice President, FP&A, and Investor Relations.

Thank you, Operator, and good morning, and welcome to everyone joining us today. We would like to welcome you to our earnings conference call for the third quarter of fiscal year 2026. Our third quarter earnings press release was issued yesterday after market and is available on our Investor Relations website, located at investors.azenta.com in addition to the PowerPoint slides and the supplementary information 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. The previously disclosed sale of the B Medical Systems business was completed on July 1st, 2026. 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 GAAP measures, they provide an even more complete understanding of the event of 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 begin the call with opening remarks from John, followed by Lawrence, who will provide a detailed review of 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 Marotta.

Good morning, everyone, and thank you for joining us today. In the third quarter, despite an uneven and challenging market, we made substantial progress delivering against our commitments towards rebuilding confidence through performance. Revenue exceeded our outlook. Profitability improved sequentially. and Multiomics delivered year-over-year growth. While these results reflect improved execution, our broader turnaround remains underway and sustained performance will require consistent execution over multiple quarters. The operational transformation we began last year in sample management solutions is further along and has helped us strengthen our foundation. Multiomics remains a central focus of our broader transformation strategy. We are executing targeted commercial and operational initiatives to improve performance, increase scalability, and position the business for long-term growth. While the work remains in the early stages, our objective is clear. Build a more focused, efficient, and scalable multi-omics business capable of delivering sustainable results with a market-leading position. As we enter the fourth quarter, our priorities remain unchanged. Execute with discipline, advanced the multiomics turnaround and create long-term shareholder value through consistent performance. I will highlight four key takeaways from the quarter. First, despite an unpredictable demand environment where multiomics North America showed modest sequential improvement but remained below prior year levels, organic revenue grew 9% year over year, driven by strong performance in biorepositories in CNI. Where the investments in our reoccurring revenue businesses are making a meaningful contribution, growth was further supported by solid results in multiomics China and in Europe. Second, we began developing the actions to advance the multiomics transformation. We are implementing commercial initiatives and working through our structural actions, including a meaningful footprint rationalization, organizational changes, and a sharper focus on high-value workflows. While the effort will take time, we believe these actions are necessary to improve execution and profitability over the long term. Third, while the capital equipment environment remains uneven, customer engagement remains healthy. We continue to see interest in our automated stores as customers look for greater efficiency, scalability, and operational resiliency. We continue to take a rigorous approach to how we assess the pipeline and given the project timing continues to remain uncertain, we are evaluating options to optimize our cost structure to improve profitability and automated stores and cryo systems. Fourth, we continue to execute on key initiatives to build a more durable and scalable business. We are advancing our Zenta business system efforts to strengthen operational discipline, making steady progress on the UK-BC integration and allocating resources toward the highest return opportunities to support long-term value creation. In sample management solutions, biorepositories and CNI delivered strong results and remain important growth drivers within the portfolio supported by the investments we've made in these reoccurring revenue businesses. Today, more than half of our revenue is reoccurring in nature, providing greater stability and resilience across the business. Automated stores remain below prior year levels. Within biorepositories, we completed the first customer deployment of an AI-enabled biorepository inventory solution with advanced imaging and data management that creates actionable digital data. In this initial deployment, the solution meaningfully improved inventory capture productivity versus the prior manual process while creating a clearer, data-driven view of customer sample inventories. This enables customers to better understand what they have, where it is stored, and what action should be taken. Over time, our expectation is to double productivity, strengthen our broader biorepository services offering, support better storage management decisions, and create a path to more scalable, high-value repository workflows for customers. In automated stores, we continue to make progress addressing the quality issues discussed last quarter. Remediation work has now been completed for the three remaining systems we previously highlighted, and those systems are currently in final testing and validation prior to customer sign-off. As a reminder, these are highly customizable stores with each system uniquely configured to meet specific customer requirements. Final acceptance requires customer-specific testing and validation to ensure each system performs as intended and meets our customers' expectations. While most of the related remediation spending is now behind us and meeting our customers' expectations remains our top priority, we will consider this process complete only when the remaining systems have been fully tested, validated, and accepted by our customers and are operating as intended We are confident that the remediation work we've done will resolve the issue. In addition, our strategic move into modular stores will reduce engineering complexity through greater standardization that will deliver improved quality, reduce execution risk, and support more consistent performance over time. We also added new stores opportunities in our backlog during the quarter, starting to build our pipeline as we enter fiscal 2027. While the revenue contribution in our fourth quarter is expected to be limited, the timing of the larger capital projects remains variable. We are encouraged by our pipeline and are seeing opportunities progress to orders. Multiomics delivered year-over-year growth during the quarter, supported by continued strength in Europe and in China, and modest improvement in North America, which year-to-date remains below prior year levels. Thank you for joining us. As we have discussed previously, adding commercial leadership in the region was an important objective, and we are pleased to have recently appointed a new regional leader for North America. We believe this addition will strengthen our execution and customer engagement while supporting broader initiatives underway to improve performance and long-term growth. From an in-market perspective, conditions remain mixed. Customer engagement levels are healthy, and we continue to see strength in Europe and in China. In North America, funding visibility has improved modestly, but research spending remains below prior year levels and customers continue to take a cautious approach to capital deployment. As a result, purchasing decisions and project timing remain difficult to predict, particularly for large capital investments. Given this backdrop, we believe maintaining a disciplined outlook remains appropriate. Following our stronger than expected third quarter revenue performance, we revisited our full year outlook. We now expect reported revenue in the range of $613 million to $618 million, improving our organic revenue outlook to approximately flat to up 1% year over year, with adjusted EBITDA expected to be in the range of $59 million to $62 million. While the updated outlook reflects the benefit of the third quarter revenue performance, we continue to take a measured view of the remainder of the year, recognizing that recovery across portions of the portfolio remains uneven, and we are facing a tough fourth quarter comparison, particularly in multi-omics. We continue to execute on our disciplined capital allocation strategy during the quarter. Our priorities remain unchanged and are focused in four key areas. driving productivity and gross margin improvement, accelerating organic growth, pursuing disciplined strategic M&A, and returning capital to shareholders when appropriate. Importantly, our strong balance sheet affords us the flexibility to invest in strategic acquisitions that support long-term growth while also returning capital to shareholders. On July 1st, we completed the divestiture of B Medical Systems, further simplifying the portfolio and sharpening our focus on our core life sciences businesses. Integration of the UK Bio Center remains on track and continues to enhance our biorepository capabilities across Europe. In addition, we repurchase shares under our share repurchase authorization, reflecting our confidence in the long-term value of the business and representing an opportunistic deployment of capital within our disciplined capital allocation framework. Looking ahead, our strategic priorities remain clear, scaling biorepositories, advancing gene synthesis and multiomics workflows, and driving innovation and automated solutions. These priorities remain the same building blocks that underpin the long-range objectives we shared at Investor Day. and the operational actions we're taking today are intended to strengthen our ability to achieve them. While there is still meaningful work ahead, the operational actions underway are focused on improving execution, strengthening accountability, simplifying the operating model and aligning investment behind our highest value opportunities. Although we are not providing guidance beyond fiscal 2026, We believe these actions position the business to deliver stronger and more consistent performance over time. We look forward to sharing our fiscal 2027 outlook in November after we complete and report our fiscal 2026 year-end results. To close, we remain focused on executing the actions required to strengthen the business. As we said last quarter, many of the performance challenges we faced were within our control. and we are addressing them with discipline, accountability and focus on improving execution across the organization. With that, I'll turn it over to Lawrence to walk through the financial results and our outlook in more detail.