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Dec 31, 2019
Twist Bioscience Q1 2020 Earnings Report
Reported revenue increase of 49% year-over-year and reached a settlement agreement with Agilent in litigation.
Key Takeaways
Twist Bioscience reported a strong start to fiscal year 2020, with revenues of $17.2 million, a 49% increase over the same period last year. The company also reached a settlement agreement with Agilent, removing uncertainty and paving the way for future growth.
Total orders received for the first quarter of fiscal 2020 were $24.8 million, compared to $15.2 million for the same period of fiscal 2019.
Total revenues were $17.2 million for the first quarter of fiscal 2020 compared to $11.5 million for the same period of fiscal 2019.
Shipped products to approximately 1,000 customers in the first quarter of fiscal 2020, versus about 600 in the same period of fiscal 2019.
Signed a collaboration with Schrödinger, Inc. to discover new antibody therapeutics against G-protein coupled receptor (GPCR) targets.
Twist Bioscience
Twist Bioscience
Forward Guidance
Twist Bioscience provided updated financial guidance for the full fiscal year 2020.
Positive Outlook
- Revenue expected in the range of $80 to $84 million consistent with our previous guidance
- Revenue from Ginkgo Bioworks expected to be approximately $10 million
- Synbio revenue excluding Ginkgo Bioworks is expected to be in the range of $32 to $33 million
- NGS revenue is estimated to be in the range of $37 to $40 million
- Biopharma revenue is estimated to be approximately $1.0
Challenges Ahead
- Gross margin is expected to be approximately 32% for fiscal 2020
- Net loss (Excluding Litigation Settlement) is expected in the range of $107 million to $110 million, an increase from our previous guidance of $103 to $106 million primarily due to legal fees associated with the Agilent litigation in anticipation of a trial beginning February 24, 2020.
- Net loss (Including Litigation Settlement) expected in the range of $129.5 to $132.5 million.
- Legal fees associated with the Agilent litigation
- Uncertainty of the litigation removed