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Dec 31, 2020
Twist Bioscience Q1 2021 Earnings Report
Reported strong orders and revenue, building a solid foundation for fiscal 2021.
Key Takeaways
Twist Bioscience reported a strong first quarter for fiscal year 2021, with total revenues of $28.2 million, compared to $17.2 million for the same period of fiscal 2020. The company's net loss was $32.9 million, or $0.72 per share, compared to $55.6 million, or $1.69 per share, for the first quarter of fiscal 2020. As of December 31, 2020, the company had $587.3 million in cash, cash equivalents and short-term investments.
Total orders received for the first quarter of fiscal 2021 were $33.6 million, compared to $24.8 million for the same period of fiscal 2020.
Revenue for the first quarter of fiscal 2021 was $28.2 million, compared to $17.2 million for the same period of fiscal 2020.
The company launched Clonal-Ready Gene Fragments.
Twist completed an equity offering of approximately 3.1 million shares of common stock at a price of $110.00 per share raising approximately $324 million in proceeds, net of estimated offering expenses.
Forward Guidance
Twist Bioscience provided financial guidance for the full fiscal year 2021, maintaining revenue guidance in the range of $110 million to $118 million.
Positive Outlook
- Revenue from Ginkgo Bioworks expected to be in the range of $11 million to $12 million
- Synbio revenue excluding Ginkgo Bioworks is expected to be in the range of $41 million to $44 million
- NGS revenue is estimated to be in the range of $54 million to $58 million
- Biopharma revenue is estimated to be approximately $4 million
- Gross margin is expected to be 32% to 34% for fiscal 2021
Challenges Ahead
- Operating expenses including R&D and SG&A are expected to be $182 million for the year
- Net loss expected in the range of $142 million to $147 million to reflect increased investments in commercial organization and research and development activities
- R&D is expected to be approximately $60 million
Historical Earnings Impact
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