Azenta, Inc. (AZTA): Business Model Canvas [Dec-2025 Updated]

You're digging into Azenta, Inc.'s strategy as they fully commit to the life sciences space, and honestly, the numbers from fiscal year 2025 show they've built a solid launchpad for this pivot. We're looking at a company with $546 million in cash, cash equivalents, and marketable securities, driving $325 million in Sample Management Solutions revenue, all while posting a Non-GAAP EPS of $0.51-that's real traction. To understand how they connect their proprietary cryogenic tech and global biorepositories to top pharma clients through services like multiomics, you need to see the whole Business Model Canvas laid out. Dive below for the precise breakdown of their key activities, value propositions, and revenue streams.

Azenta, Inc. (AZTA) - Canvas Business Model: Key Partnerships

You're mapping out Azenta, Inc.'s strategic alliances, which are critical for scaling its Sample Management Solutions and Multiomics services. These partnerships directly feed into the revenue streams, which hit $159.2 million in Q3 CY2025, with a trailing twelve-month revenue of $594M as of September 30, 2025.

The Key Partnerships block of the Business Model Canvas is heavily weighted toward enabling advanced research platforms.

The collaboration with Frenova and Nephronomics centers on the MyReason® research program, where Azenta provides genomic sequencing through its GENEWIZ division and manages long-term sample storage. This program is designed to enhance understanding of cardio-kidney-metabolic diseases.

The PRECEDE Foundation partnership focuses on safeguarding critical study samples in Azenta's biorepository to support research aimed at improving pancreatic cancer screening. Pancreatic cancer currently has a five-year survival rate of just 13%.

Azenta's Sample Management Solutions segment generated $78 million in revenue for the quarter ended June 30, 2025, while the Multiomics segment generated $66 million in the same period. The company's overall fiscal year 2025 organic revenue growth guidance was set in the range of 3% to 5% relative to fiscal 2024.

The reach of Azenta's physical network supports these global agreements:

• Laboratories, biorepositories, and manufacturing facilities are located throughout North America, Europe, and Asia.
• The company's Cryogenic Storage Solutions are part of a global market projected to reach $5.65 billion by 2033, with a CAGR of 11.08% from 2025 to 2033.
• Azenta's Sample Management Solutions segment is the primary revenue driver.

The partnership with Form Bio specifically targets the development of AAV gene therapy data analysis tools.

Azenta, Inc. (AZTA) - Canvas Business Model: Key Activities

Operating and maintaining global biorepository facilities.

The Sample Management Solutions segment generated revenue of $78 million in the third quarter of fiscal 2025, representing a 4% year-over-year decline in that period. This segment's organic revenue declined by 6% in Q3 FY2025, driven by lower revenues in Core Products. Azenta, Inc. operates a global repository network, including its flagship biorepository in Indianapolis and a newer 40,000 square foot facility in Billerica, Massachusetts. For the full fiscal year 2025, Sample Management Solutions revenue was $325 million, up 2% year over year, with organic revenue up 1%. International revenue accounted for 39% of total revenue in fiscal year 2025. The company has plans to complete phase two of its facility in Suzhou, China, by the second quarter of fiscal year 2026, with a total cost of $15.7 million.

Providing Next-Generation Sequencing (NGS) and gene synthesis.

The Multiomics segment is a key driver, with revenue reaching $66 million in the third quarter of fiscal 2025, marking a 4% year-over-year increase. Organic revenue for Multiomics grew 3% year-over-year in Q3 FY2025. This growth was primarily fueled by Next Generation Sequencing. In the second quarter of fiscal 2025, Next-Generation Sequencing (NGS) services specifically showed impressive growth of 20% year over year. Conversely, Gene Synthesis revenue saw a decline of 10% year over year in Q2 FY2025. For the full fiscal year 2025, Multiomics revenue was the primary driver of the total revenue increase.

The segment revenue breakdown for the third quarter of fiscal 2025 was:

Manufacturing automated cold-chain sample storage systems.

The manufacturing of automated systems falls under the Sample Management Solutions segment, specifically within Core Products, which saw lower revenues in Q3 FY2025. Lower revenues were noted in Cryogenic Systems and Automated Stores during that quarter. The company supports these systems with brands like FluidX, Ziath, 4titude, and Freezer Pro. The overall Sample Management Solutions segment revenue for the full fiscal year 2025 was $325 million.

Implementing the Azenta Business System (ABS) for efficiency.

Operational efficiency is reflected in margin expansion. For the full fiscal year 2025, Azenta, Inc. achieved an Adjusted EBITDA margin of 11.2%, an improvement of 310 basis points year over year. In the third quarter of fiscal 2025, the Adjusted EBITDA margin reached 13%, an improvement of 260 basis points year over year. Adjusted operating expenses for continuing operations in Q3 FY2025 were $62 million, down 4% year over year, driven by lower selling, general and administrative expenses and lower research and development costs. Gross margin for the full fiscal year 2025 was 45.5%, up from 44.4% in fiscal year 2024.

Research and development (R&D) for new automation and multiomics.

Research and development activities are integral to maintaining the offering in both segments. In the second quarter of fiscal 2025, operating expenses were down 3% year over year, primarily due to lower research and development expense. For the third quarter of fiscal 2025, adjusted operating expenses also included lower research and development costs. The company launched next-generation automated storage systems and emphasized investments in robotics, AI-based tracking, and cloud-enabled sample management in 2025. Full year fiscal 2025 capital expenditures totaled $34 million.

The company ended fiscal year 2025 with a total balance of cash, cash equivalents, restricted cash, and marketable securities of $546 million.

Azenta, Inc. (AZTA) - Canvas Business Model: Key Resources

You're looking at the core assets Azenta, Inc. (AZTA) relies on to execute its strategy. These aren't just line items; they are the engines driving their service delivery across Sample Management Solutions and Multiomics.

Financial Strength and Liquidity

The balance sheet provides a solid foundation for ongoing operations and strategic moves. As of the end of Fiscal Year 2025, the company held significant liquid assets.

• $546 million in cash, cash equivalents, and marketable securities (FY25).
• Installed capacity across automated stores of over 500 million samples.
• Common shares outstanding as of August 1, 2025, were 45,839,728.

Here's a quick look at the financial context near the end of the fiscal year:

The company believes its current cash position enables funding for operating expenses and capital expenditures for at least one year from the August 2025 Form 10-Q filing and for the foreseeable future thereafter.

Proprietary Technology and Intellectual Property

The competitive moat for Azenta, Inc. is heavily reliant on its specialized technology, particularly in the cold chain space. This isn't just about freezers; it's about integrated, automated systems that reduce human error and increase sample viability over decades.

• Proprietary automated cryogenic storage technology and IP, including the CryoArc™ line of LN2-based automated cryogenic storage systems.
• Systems are designed to operate down to -190°C for biological sample preservation.
• Technology underpins rigorous inventory management, tracking, and documentation to satisfy demanding quality and regulatory requirements.

Global Infrastructure and Facilities

Physical presence is a key resource, especially for a service requiring proximity and redundancy for irreplaceable biological assets. Azenta, Inc. maintains a significant worldwide footprint.

• 30 global locations-a worldwide network of biorepositories and sample processing labs.
• Facilities span North America, Europe, and Asia.
• Key Sample Management Solutions Locations include Indianapolis (flagship), Billerica, MA (second largest biorepository), Cleveland, and Fresno in the US, plus sites in Germany and the UK in Europe.

Brand Equity and Customer Relationships

The established brand names carry significant weight in the life sciences sector, signaling trust and proven capability to the industry's most demanding clients.

• Industry-leading brands include GENEWIZ, FluidX, Limfinity, Ziath, 4titude, Freezer Pro, and Barkey.
• Serving the top 10 pharma companies globally.
• Over 20 years of deep expertise in sample management and multiomics.

Human Capital

The specialized nature of the work requires deep domain expertise, making talent a critical, non-transferable resource.

• Total Employees reported as 3,300 for the fiscal year ending September 30, 2025.
• Highly specialized scientific and engineering talent focused on automation, cold-chain logistics, and multiomics services.

Finance: draft 13-week cash view by Friday.

Azenta, Inc. (AZTA) - Canvas Business Model: Value Propositions

You're looking at the core reasons why pharmaceutical and biotech clients choose Azenta, Inc. for their critical research infrastructure. It's about de-risking their most valuable assets-their biological samples-and speeding up their R&D timelines. The numbers show where the business is focused.

Flawless sample integrity via automated cold-chain management.

This value proposition is anchored in the Sample Management Solutions (SMS) segment, which provides the physical and logistical backbone for sample preservation. The focus here is on reliability at scale, which is essential for multi-year clinical trials and biobanking efforts. The company's ability to maintain viability across ultra-low temperatures is non-negotiable for customers.

The financial contribution from this area for the full fiscal year 2025 was substantial:

The Q3 2025 revenue for SMS was down 4% year-over-year, but Q4 saw a rebound with 2% reported growth, showing the lumpy nature of capital equipment sales like Automated Stores.

Accelerating drug discovery with high-throughput multiomics services.

The Multiomics segment is the growth engine, providing the analytical horsepower needed to turn stored samples into actionable data. This includes Next Generation Sequencing (NGS), which has been a consistent performer.

• NGS volume growth was at double-digit rates in Q2 2025.
• NGS pricing showed stabilization for the 4th consecutive quarter as of Q2 2025.
• Q3 Fiscal 2025 Multiomics Revenue was $66 million, up 4% year-over-year.
• Full Year Fiscal 2025 Multiomics Revenue was $269 million, up 6% year-over-year.

This segment's performance is key to the overall organic growth trajectory. For the full year 2025, Azenta, Inc.'s total organic revenue grew 3%.

End-to-end sample lifecycle management for complex therapies.

This value is the sum of both segments, supported by a strong balance sheet to ensure continuity of service, which is critical when managing samples for advanced cell and gene therapies. The company ended fiscal year 2025 with a total balance of cash, cash equivalents, and marketable securities of $546 million.

The overall financial results for the full fiscal year 2025 reflect this integrated approach:

• Full Year Fiscal 2025 Total Revenue: $594 million.
• Full Year Fiscal 2025 Adjusted EBITDA Margin: 11.2%, an improvement of 310 basis points year-over-year.
• Full Year Fiscal 2025 Non-GAAP Diluted EPS: $0.51.

The margin expansion, up 310 basis points for the year, shows the value of operational efficiencies being realized across the entire lifecycle management process.

Reduced time and cost to lead candidates in gene therapy.

Azenta, Inc. directly addresses the timeline and safety concerns in gene therapy development through strategic integrations. For instance, a partnership launched in May 2025 integrates their sequencing capabilities with Form Bio's computational solutions to provide AAV Genome Integrity Characterization using their LAAVA software.

This collaboration is designed to streamline lead candidate selection by providing data-driven insights into AAV capsid contents, aiming to enhance therapeutic safety and manufacturability, which directly translates to reduced development timelines and costs for gene therapy developers.

Enterprise-wide sample intelligence software and informatics.

The informatics layer, which includes software like Freezer Pro and Limfinity, transforms raw sample data into intelligence. This software underpins the reliability of the entire cold-chain service, ensuring data integrity matches sample integrity. While specific revenue for informatics is bundled, the focus on operational improvements across the board supports this value.

The company's commitment to operational excellence is evident in its profitability metrics, which are a direct result of better system utilization and cost execution:

Finance: draft 13-week cash view by Friday.

Azenta, Inc. (AZTA) - Canvas Business Model: Customer Relationships

You're looking at how Azenta, Inc. (AZTA) structures its interactions across its diverse product and service offerings as of late 2025. The approach is definitely segmented based on the value and complexity of the offering.

For high-value systems, like the Automated Stores and Cryogenic Systems, Azenta, Inc. relies on a dedicated direct sales force. This team manages the complex sales cycle for these capital equipment and the associated storage services. Management noted in their Q4 2025 update that they took decisive steps to reshape the commercial organization, including an expanded field presence, to sharpen go-to-market targeting for fiscal 2025.

The Sample Repository Services (SRS), a key part of the Sample Management Solutions (SMS) segment, necessitates consultative, long-term relationships. These services are foundational to the trust required for long-term sample custody. The revenue performance of this segment, which includes SRS, shows its scale:

For consumables and standard services, the relationship leans toward self-service and e-commerce channels. These are the more transactional elements of the business. The growth in these areas, specifically for Consumables and Instruments, was noted as a meaningful contributor to the Q4 2025 results.

Support for the installed base of systems is managed through technical support and service contracts. This ensures uptime and continued use of their hardware and software platforms, such as Freezer Pro and Limfinity. The SMS segment also reports revenue from Product Services, which falls under this relationship type.

Azenta, Inc. maintains definitely collaborative relationships with top pharma, as they provide services to the industry's top pharmaceutical, biotech, academic and healthcare institutions globally. This focus is critical, as the company's overall fiscal year 2025 revenue was $593.8 million, with 39% of that revenue generated outside the United States in fiscal year 2025, showing a growing international footprint with these key customers.

• The company ended the fiscal year 2025 with $546 million in cash, cash equivalents, and marketable securities.
• The debt-to-equity ratio stood at a low 0.03.
• The overall business achieved an Adjusted EBITDA Margin of 11.2% for the full fiscal year 2025.

Finance: review the Q1 2026 sales pipeline against the 3% to 5% organic growth guidance for the full year 2026 by end of January.

Azenta, Inc. (AZTA) - Canvas Business Model: Channels

You're looking at how Azenta, Inc. (AZTA) gets its Sample Management Solutions and Multiomics services into the hands of pharmaceutical and biotech clients as of late 2025. The channels reflect a hybrid approach, mixing direct engagement for high-value services with broader distribution for core products.

The direct sales force targets the two core continuing operations segments. For the third quarter of fiscal year 2025, the Sample Management Solutions segment generated $78 million in revenue, while the Multiomics segment brought in $66 million. The direct team is essential for selling complex, automated cold-chain infrastructure and high-throughput genomic services.

For core products, Azenta, Inc. relies on a trusted network of third-party distributors globally. While the exact number of partners isn't public, this channel helps extend reach for products like consumables and instruments, which contributed to the Sample Management Solutions revenue decline of 4% year-over-year in Q3 fiscal 2025.

The company-owned biorepository and service centers form a critical physical channel, ensuring sample integrity and local access. As of the June 30, 2025, balance sheet date, Azenta, Inc. maintained a cash and liquidity balance of $565 million, supporting this global footprint. The new biorepository in Greater Boston, for instance, is a 40,000 square foot facility.

Here is a look at the known physical channel locations supporting their operations:

Investor relations and webcasts serve as the direct channel to the financial community. Management is focused on margin expansion, projecting 300 basis points of Adjusted EBITDA margin expansion for the full fiscal year 2025.

• Azenta Life Sciences Investor Day was scheduled for Wednesday, December 10, 2025, with the webcast presentation starting at 1:00 PM ET.
• The Q4 and Full Year Fiscal 2025 Earnings Conference Call and Webcast was scheduled for Friday, November 21, 2025, at 8:30 AM ET.
• The company's Market Capitalization as of November 21, 2025, was reported at $1.38 billion.

Digital platforms are key for the Multiomics business, which includes the GENEWIZ brand. GENEWIZ from Azenta Life Sciences provides services like Next Generation Sequencing and Gene Synthesis. While the platform facilitates ordering and payment, specific digital ordering volume or user statistics for fiscal 2025 aren't reported.

The digital channel is reinforced through strategic integrations, such as the partnership announced in May 2025 with Form Bio to enhance AAV gene therapy development through an integrated sequencing and data analysis solution. The overall Fiscal 2025 reported revenue was $593.82 million, with a reported loss of -$59.50 million.

Finance: draft 13-week cash view by Friday.

Azenta, Inc. (AZTA) - Canvas Business Model: Customer Segments

You're looking at the customer base for Azenta, Inc. as of late 2025, which is entirely focused on life sciences, having completed the strategic pivot away from semiconductor automation. The company's total revenue for the fiscal year ending September 30, 2025, reached $593.82M, with an organic growth rate of 3% for that full year. This revenue supports a global customer base, as 39% of total revenue was generated outside the United States in fiscal year 2025.

Azenta, Inc. serves its customers through two primary reporting segments: Sample Management Solutions (SMS) and Multiomics. These segments map directly to the essential needs of drug developers, researchers, and healthcare providers.

The Sample Management Solutions segment is the backbone for customers needing secure, long-term sample integrity. For instance, in the third quarter of fiscal year 2025, this segment generated $78 million in revenue, driven by services like Sample Repository Solutions and Core Products. In the fourth quarter, SMS revenue was $86 million, showing strength in areas like Clinical Biostores and Sample Storage, even with softness in Cryogenic Stores due to customer capital expenditure delays.

The Multiomics segment is the growth engine, focused on genomic services essential for modern therapy development. In the third quarter of fiscal year 2025, Multiomics revenue was $66 million, up 4% year-over-year, primarily fueled by Next Generation Sequencing. This segment directly supports advanced cell and gene therapy developers and large biotech firms needing high-throughput analysis.

Here's a quick look at the segment revenue performance from the third quarter of fiscal 2025, which gives you a clear picture of where the business was at that point:

The customer segments are served by specific offerings within these structures. You're looking at a customer base that relies on Azenta, Inc. for mission-critical infrastructure and analysis.

• Top pharmaceutical and biotechnology companies use both segments for drug development pipelines.
• Academic and government research institutions are key users of Multiomics for discovery research.
• Clinical research organizations (CROs) and clinical trial sponsors rely heavily on Sample Management Solutions for trial material integrity.
• Advanced cell and gene therapy developers require Multiomics for sequencing and SMS for ultra-low temperature storage.
• Healthcare institutions and biobanks globally utilize Sample Repository Services and Clinical Biostores.

For the full year 2025, the company reported a strong cash position, ending the year with $283.5 million in cash, cash equivalents, and restricted cash, plus $262.7 million in marketable securities, ensuring they can continue to support these long-term customer relationships.

The Multiomics segment saw particular momentum, with organic revenue growing 10% year-over-year in the fourth quarter of fiscal 2025, driven by Next Generation Sequencing and Gene Synthesis, which are services directly tied to the most innovative drug development efforts.

Finance: draft 13-week cash view by Friday.

Azenta, Inc. (AZTA) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Azenta, Inc.'s operations as of late 2025, focusing on the continuing businesses after the planned divestiture of B Medical Systems. The cost structure reflects a pivot toward high-tech services in Sample Management Solutions (SMS) and Multiomics.

Cost of revenue (COGS) for consumables and instruments is a primary driver. While specific 2025 COGS for consumables and instruments isn't fully itemized separately from the continuing operations' gross margin, we can infer the cost base from recent performance. For the third quarter of fiscal 2025, continuing operations generated revenue of $144 million, with an Adjusted Gross Margin of 48.5%. This implies an Adjusted Cost of Revenue of approximately $74.16 million for that quarter, which covers the direct costs associated with providing sample management products, consumables, and multiomics sequencing services. For context, the Total Cost of Revenue for the full fiscal year 2024 was $393 million on $656 million in total revenue, before the B Medical segment was classified as discontinued. The focus on higher-margin services within SMS and Multiomics is intended to improve this ratio.

Significant R&D investment for automation and multiomics expansion is managed with discipline. In the third quarter of fiscal 2025, Research and Development costs were lower year-over-year, contributing to a 6% decrease in total GAAP Operating Expenses compared to the prior year period. On a Non-GAAP basis for Q3 2025, Adjusted Operating Expense was $62 million, down 4% year-over-year, driven in part by lower R&D costs. This suggests a near-term focus on operational efficiency while maintaining necessary investment in automation for their Sample Management Solutions, such as automated stores and cryogenic systems, and expansion in Multiomics capabilities like Next Generation Sequencing.

Selling, General, and Administrative (SG&A) expenses for global sales are being tightly controlled as part of the transformation program. For Q3 2025, lower Selling, General, and Administrative expenses were a key factor in reducing the Adjusted Operating Expense to $62 million, down from $69 million in Q2 2025. This reduction in SG&A helped drive the Adjusted Operating Margin for Q3 2025 to 5.5% for continuing operations. The global sales force supports the Sample Management Solutions and Multiomics segments across North America, Europe, and Asia.

Operating costs for global biorepository and cold-chain infrastructure are embedded within COGS and operating expenses, reflecting the complexity of maintaining reliable cold-chain custody. The Sample Management Solutions segment revenue, which includes these services, was $78 million in Q3 2025. The company's commitment to this infrastructure is a fixed cost component that underpins the value proposition of sample integrity. Capital expenditures for the full fiscal year 2024 were approximately $38 million, indicating ongoing investment in these physical assets.

Restructuring and portfolio simplification costs (e.g., B Medical sale) have been a notable, though temporary, cost factor. The intention to sell the B Medical Systems segment was announced in fiscal Q1 2025, leading to its classification as a discontinued operation. In Q2 2025, the company noted increased restructuring and transformation charges. However, by Q3 2025, GAAP Operating Expenses reflected lower restructuring charges year-over-year. These charges are adjustments not representative of normal operations, but they impacted the GAAP results, contributing to the total diluted EPS loss of ($0.88) in Q2 2025, which included ($0.49) from discontinued operations.

Here's a quick look at the latest reported operational expense snapshot for continuing operations (Q3 2025):

The overall financial impact of the 2025 fiscal year, ending September 30, 2025, showed a total Net Loss attributable to common shareholders of -$59.50 million, which was a significant improvement from the -$164 million loss in fiscal year 2024. This reflects the cost discipline applied across the core business as the divestiture process moved forward.

• Total FY 2025 Revenue (All Operations): $593.82 million.
• FY 2024 Total Revenue: $656.32 million.
• Cash, cash equivalents, restricted cash and marketable securities as of March 31, 2025: $540 million.
• FY 2025 Organic Revenue Growth Guidance (Reiterated): Range of 3% to 5% relative to fiscal 2024.

Finance: draft 13-week cash view by Friday.

Azenta, Inc. (AZTA) - Canvas Business Model: Revenue Streams

You're looking at how Azenta, Inc. (AZTA) converts its core life science services into actual dollars as of late 2025. It's all about the two main pillars now that they've streamlined the portfolio. Here's the quick math on where the money came from in fiscal year 2025 (FY25).

The overall picture for FY25 showed reported revenue of $594 million, marking a 4% increase year-over-year from continuing operations. This top-line performance resulted in a Non-GAAP Diluted EPS for the full fiscal year 2025 of $0.51.

The revenue streams are clearly segmented across their two primary business units. You can see the split below:

The Multiomics segment was the primary driver of the overall revenue increase for the full year, showing 6% growth, while SMS grew 2%.

Drilling down into the specifics of how these segments generate revenue, you see a mix of service contracts, product sales, and recurring consumables revenue. For the Multiomics business, the revenue streams are heavily weighted toward high-throughput genomic services:

• Multiomics services revenue: Includes gene sequencing, synthesis, and analysis.
• Next-Generation Sequencing (NGS) services showed impressive momentum, with volume rising 50% year-over-year in the fourth quarter.
• Multiomics delivered record revenue of $73 million in the fourth quarter of 2025.

The Sample Management Solutions revenue stream is more diverse, incorporating both capital equipment sales and ongoing service/consumable revenue. This is where you find the sales of automated storage systems and cryogenic freezers, alongside the critical recurring components.

Recurring revenue from Sample Repository Services (SRS) and consumables is a key component here, providing a more predictable base. Specifically, growth in Clinical Biostores, Consumables and Instruments, and Sample Storage were cited as drivers for the SMS segment in FY25. To be fair, revenue from Cryogenic Systems and Automated Stores was lower in the fourth quarter, but other core products offset that decline.

Here are the key revenue drivers within the SMS segment as reported for the fourth quarter:

• Recurring revenue from Sample Repository Services (SRS).
• Sales of consumables and instruments.
• Revenue from Clinical Biostores.
• Sales of automated storage systems and cryogenic freezers (though Cryogenic Systems revenue was lower in Q4'25).

Finance: draft 13-week cash view by Friday.