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Dec 31, 2023
Twist Bioscience Q1 2024 Earnings Report
Twist Bioscience achieved record revenue and exceeded projections in Q1 2024.
Key Takeaways
Twist Bioscience reported a strong start to fiscal year 2024, achieving record revenue of $71.5 million, a 32% increase compared to the same period last year. The company's gross margin was 40.5%.
Total revenue reached a record $71.5 million, up 32% year-over-year.
Orders increased to $77.5 million, a 19% increase year-over-year.
SynBio revenue increased to $26.8 million, compared to $21.7 million for the same period last year.
NGS revenue increased to $39.4 million, compared to $24.4 million for the same period last year.
Revenue by Segment
Forward Guidance
Twist Bioscience updated its fiscal year 2024 financial guidance, projecting total revenue between $288 million and $293 million and gross margin between 40% and 41%.
Positive Outlook
- Total revenue is expected to be in the range of $288 million to $293 million, growth of 18 to 20 percent
- SynBio revenue is expected to be in the range of $114 million to $117 million, indicating year over year growth of 16 to 19 percent
- NGS revenue is expected to be in the range of $150 million to $152 million, indicating year over year growth of 21 to 23 percent
- Biopharma revenue is expected to be approximately $24 million, indicating year over year growth of approximately 3 percent
- Gross margin is expected to be approximately 40% to 41% for fiscal 2024, an increase across the range
Challenges Ahead
- Loss from operations before taxes of approximately $189 million to $194 million, an increase from $180 million to $188 million provided previously
- Total revenue of approximately $70 million to $71 million for the second quarter of fiscal year 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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