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Dec 31, 2022
Twist Bioscience Q1 2023 Earnings Report
Reported revenue of $54.2 million, a 29% increase compared to the same period last year, and orders increased by 30% to $64.7 million.
Key Takeaways
Twist Bioscience reported a solid start to the year with strong revenue growth across SynBio, NGS, and biopharma, alongside robust order increases. The company shipped its first products from the Factory of the Future and expanded its customer base.
Total revenue for the first quarter of fiscal year 2023 was $54.2 million, up from $42.0 million in the same period of fiscal 2022.
Total orders for the first quarter of fiscal 2023 reached $64.7 million, compared to $49.6 million in the prior year.
Net loss attributable to common stockholders was $41.8 million, or $0.74 per share, compared to a net loss of $45.6 million, or $0.91 per share, in the same period last year.
As of December 31, 2022, the company's cash, cash equivalents, and investments totaled $438.7 million.
Twist Bioscience
Twist Bioscience
Twist Bioscience Revenue by Segment
Revenue by Segment
SynBio Revenue
CapyFin.comNGS Revenue
CapyFin.comBiopharma Revenue
CapyFin.com Forward Guidance
Twist Bioscience provided financial guidance for fiscal year 2023 and the second quarter of fiscal year 2023, with revenue expected to be in the range of $261 million to $269 million for the full year and approximately $56.5 million for the second quarter.
Positive Outlook
- Revenue guidance for FY23 is unchanged from November 2022 guidance, expected to be in the range of $261 million to $269 million.
- Gross margin is expected to be approximately 39-40% for fiscal 2023, representing no change from the previous guidance.
- Operating expenses are now expected to be approximately $330 million for the year, a decrease compared to previous guidance of $365 million.
- Operating loss is expected to be approximately $225 million, a decrease compared to the $260 million projection given in November 2022.
- FY23 Year End Cash projected to be $300 million, representing no change from previous guidance.
Challenges Ahead
- Gross margin is expected to be 30% for Q2 2023 due to costs associated with the Wilsonville, Oregon manufacturing facility.
- Operating expenses include approximately $46 million for DNA data storage.
- Capital expenditure is expected to be approximately $50 million.
- The forward-looking statements are subject to market conditions and other factors that could cause actual results to differ materially.
- Second quarter SynBio revenue is expected to be approximately $24 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income