Azenta Inc (AZTA)
Gross profit margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 250,787 | 263,140 | 253,221 | 244,816 | 262,405 | 255,584 | 263,612 | 266,443 | 253,518 | 243,809 | 230,202 | 207,034 | 190,797 | 172,148 | 18,110 | 62,357 | 101,210 | 134,605 | 298,727 | 282,032 |
| Revenue (ttm) | US$ in thousands | 645,780 | 669,996 | 633,011 | 598,573 | 594,894 | 554,493 | 549,230 | 729,759 | 867,038 | 977,448 | 948,755 | 854,265 | 795,637 | 753,076 | 1,246,466 | 1,227,754 | 1,182,711 | 1,154,490 | 562,470 | 564,435 |
| Gross profit margin | 38.83% | 39.27% | 40.00% | 40.90% | 44.11% | 46.09% | 48.00% | 36.51% | 29.24% | 24.94% | 24.26% | 24.24% | 23.98% | 22.86% | 1.45% | 5.08% | 8.56% | 11.66% | 53.11% | 49.97% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $250,787K ÷ $645,780K
= 38.83%
The gross profit margin of Azenta Inc has shown a declining trend over the past few quarters. It decreased from 44.16% in Q1 2023 to 39.12% in Q1 2024. This indicates that the company's cost of goods sold relative to its revenue has been increasing, leading to a lower percentage of revenue retained as gross profit. The significant drop in Q1 2024 compared to previous quarters is a cause for concern, as it suggests a potential inefficiency in managing production costs or pricing strategies. Further investigation into the reasons behind this declining trend is warranted to address any underlying issues affecting the company's profitability.
Peer comparison
Dec 31, 2023