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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.
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 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
- SynBio revenue of approximately $28.5 million for the second quarter of fiscal year 2024
- NGS revenue of approximately $37 million to $38 million for the second quarter of fiscal year 2024
- Biopharma revenue of approximately $4.5 million for the second quarter of fiscal year 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income