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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.
Twist Bioscience
Twist Bioscience
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
- Stock-based compensation is expected to be approximately $32 million
- Capital expenditures are expected to be $30 million, including expansion into “Factory of the Future”