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Side-by-side financial comparison of Azenta, Inc. (AZTA) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Azenta, Inc. is the larger business by last-quarter revenue ($148.6M vs $92.9M, roughly 1.6× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs -10.4%, a 35.4% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 0.8%). Azenta, Inc. produced more free cash flow last quarter ($14.7M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 4.4%).
Azenta, was founded in 1978, and is based in Chelmsford, Massachusetts, United States. The company is a provider of life sciences services including genomics, cryogenic storage, automation, and informatics.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
AZTA vs VCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $148.6M | $92.9M |
| Net Profit | $-15.4M | $23.2M |
| Gross Margin | 42.9% | 78.7% |
| Operating Margin | -4.9% | 24.1% |
| Net Margin | -10.4% | 25.0% |
| Revenue YoY | 0.8% | 23.3% |
| Net Profit YoY | -15.7% | 17.3% |
| EPS (diluted) | $-0.34 | $0.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $148.6M | $92.9M | ||
| Q3 25 | $159.2M | $67.5M | ||
| Q2 25 | $143.9M | $63.2M | ||
| Q1 25 | $143.3M | $52.6M | ||
| Q4 24 | $147.4M | $75.4M | ||
| Q3 24 | $150.6M | $57.9M | ||
| Q2 24 | $144.3M | $52.7M | ||
| Q1 24 | $136.4M | $51.3M |
| Q4 25 | $-15.4M | $23.2M | ||
| Q3 25 | $50.9M | $5.1M | ||
| Q2 25 | $-48.0M | $-553.0K | ||
| Q1 25 | $-47.7M | $-11.2M | ||
| Q4 24 | $-11.0M | $19.8M | ||
| Q3 24 | $-6.6M | $-901.0K | ||
| Q2 24 | $-6.6M | $-4.7M | ||
| Q1 24 | $-137.4M | $-3.9M |
| Q4 25 | 42.9% | 78.7% | ||
| Q3 25 | 45.4% | 73.5% | ||
| Q2 25 | 46.2% | 73.7% | ||
| Q1 25 | 43.8% | 69.0% | ||
| Q4 24 | 46.7% | 77.6% | ||
| Q3 24 | 45.5% | 71.9% | ||
| Q2 24 | 44.8% | 69.5% | ||
| Q1 24 | 43.8% | 68.9% |
| Q4 25 | -4.9% | 24.1% | ||
| Q3 25 | 1.2% | 5.1% | ||
| Q2 25 | -1.3% | -3.2% | ||
| Q1 25 | -12.7% | -24.3% | ||
| Q4 24 | -5.9% | 24.5% | ||
| Q3 24 | -3.1% | -4.3% | ||
| Q2 24 | -4.9% | -11.5% | ||
| Q1 24 | -18.1% | -10.7% |
| Q4 25 | -10.4% | 25.0% | ||
| Q3 25 | 32.0% | 7.5% | ||
| Q2 25 | -33.4% | -0.9% | ||
| Q1 25 | -33.3% | -21.4% | ||
| Q4 24 | -7.5% | 26.3% | ||
| Q3 24 | -4.4% | -1.6% | ||
| Q2 24 | -4.5% | -8.9% | ||
| Q1 24 | -100.8% | -7.5% |
| Q4 25 | $-0.34 | $0.46 | ||
| Q3 25 | $1.12 | $0.10 | ||
| Q2 25 | $-1.05 | $-0.01 | ||
| Q1 25 | $-1.04 | $-0.23 | ||
| Q4 24 | $-0.25 | $0.40 | ||
| Q3 24 | $-0.25 | $-0.02 | ||
| Q2 24 | $-0.12 | $-0.10 | ||
| Q1 24 | $-2.48 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $336.6M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.7B | $354.6M |
| Total Assets | $2.1B | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $336.6M | $137.5M | ||
| Q3 25 | $279.8M | $135.4M | ||
| Q2 25 | $270.0M | $116.9M | ||
| Q1 25 | $253.6M | $112.9M | ||
| Q4 24 | $377.5M | $116.2M | ||
| Q3 24 | $280.0M | $101.7M | ||
| Q2 24 | $336.5M | $102.5M | ||
| Q1 24 | $353.5M | $110.6M |
| Q4 25 | $1.7B | $354.6M | ||
| Q3 25 | $1.7B | $321.9M | ||
| Q2 25 | $1.7B | $306.8M | ||
| Q1 25 | $1.7B | $295.5M | ||
| Q4 24 | $1.7B | $292.0M | ||
| Q3 24 | $1.8B | $257.5M | ||
| Q2 24 | $2.0B | $243.0M | ||
| Q1 24 | $2.2B | $233.9M |
| Q4 25 | $2.1B | $488.0M | ||
| Q3 25 | $2.1B | $453.3M | ||
| Q2 25 | $2.0B | $435.6M | ||
| Q1 25 | $2.0B | $424.6M | ||
| Q4 24 | $2.0B | $432.7M | ||
| Q3 24 | $2.1B | $390.4M | ||
| Q2 24 | $2.3B | $376.8M | ||
| Q1 24 | $2.6B | $356.7M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $20.8M | $15.0M |
| Free Cash FlowOCF − Capex | $14.7M | $12.8M |
| FCF MarginFCF / Revenue | 9.9% | 13.8% |
| Capex IntensityCapex / Revenue | 4.2% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $30.9M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.8M | $15.0M | ||
| Q3 25 | $2.2M | $22.1M | ||
| Q2 25 | $25.8M | $8.2M | ||
| Q1 25 | $14.4M | $6.6M | ||
| Q4 24 | $29.8M | $22.2M | ||
| Q3 24 | $17.7M | $10.2M | ||
| Q2 24 | $9.8M | $18.5M | ||
| Q1 24 | $8.7M | $7.2M |
| Q4 25 | $14.7M | $12.8M | ||
| Q3 25 | $-5.7M | $19.5M | ||
| Q2 25 | $15.0M | $81.0K | ||
| Q1 25 | $7.0M | $-7.6M | ||
| Q4 24 | $22.0M | $8.5M | ||
| Q3 24 | $8.3M | $-9.2M | ||
| Q2 24 | $1.3M | $1.8M | ||
| Q1 24 | $428.0K | $-6.8M |
| Q4 25 | 9.9% | 13.8% | ||
| Q3 25 | -3.6% | 28.8% | ||
| Q2 25 | 10.4% | 0.1% | ||
| Q1 25 | 4.9% | -14.5% | ||
| Q4 24 | 15.0% | 11.2% | ||
| Q3 24 | 5.5% | -15.9% | ||
| Q2 24 | 0.9% | 3.4% | ||
| Q1 24 | 0.3% | -13.3% |
| Q4 25 | 4.2% | 2.4% | ||
| Q3 25 | 4.9% | 3.9% | ||
| Q2 25 | 7.5% | 12.9% | ||
| Q1 25 | 5.2% | 27.0% | ||
| Q4 24 | 5.3% | 18.3% | ||
| Q3 24 | 6.2% | 33.5% | ||
| Q2 24 | 5.9% | 31.8% | ||
| Q1 24 | 6.1% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | 0.04× | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AZTA
| Multiomics | $67.2M | 45% |
| Core Products | $47.6M | 32% |
| Sample Repository Solutions | $33.8M | 23% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
