Azenta delivered a resilient Q2 FY2024 (quarter ended March 31, 2024) with total revenue of $159.1 million, up 7% year over year on both reported and organic bases, supported by continued strength in the Sample Management Solutions (SMS) and Multiomics segments. Management highlighted the accelerated profitability thrust from the Ascend 2026 transformation program, including cost reductions of more than $25 million annualized and portfolio simplification actions. The quarter also featured a meaningful impairment in B Medical (a $111 million noncash goodwill write-down) as management shifts the focus to vaccine cold chain (VCC) and sample acquisition opportunities, while planning to exit non-vaccine lines. Despite softness in the Consumables & Instruments (C&I) portion, the company is validating its strategy to invest ahead of demand through newer growth vectors and capacity expansion, including adoption of NovaSeq X Plus in multiple sites and a broader push into high-throughput workflows. The company reaffirmed its near-term guidance for SMS and Multiomics, but reduced B Medical revenue guidance for FY2024 to $80–$90 million due to timing uncertainty, while still targeting EBITDA margin expansion of roughly 300 basis points and a non-GAAP EPS uplift to $0.27–$0.37 for the year. Looking ahead, Azenta remains focused on building scale via its two growth engines (SMS and Multiomics) and leveraging synergies across segments, with a longer-term aspirational EBITDA target in the high-teens to 20%+ by 2026 and beyond.