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Mar 31, 2024
Twist Bioscience Q2 2024 Earnings Report
Reported record revenue and order growth, improved gross margin, and maintained focus on path to profitability.
Key Takeaways
Twist Bioscience reported a strong second quarter with revenue increasing to $75.3 million, a 25% increase year-over-year, and orders increasing to $93.2 million, a 45% increase year-over-year. The company's gross margin improved to 41%, and they are focused on achieving profitability.
Total revenue increased to $75.3 million, up 25% compared to the same period last year.
Total orders increased to $93.2 million, up 45% compared to the same period last year.
Gross margin improved to 41% compared to 31% for the same period last year.
Net loss attributable to common stockholders was $45.5 million, or $0.79 per share, compared to $59.2 million, or $1.04 per share, for the same period last year.
Revenue by Segment
Forward Guidance
Twist Bioscience updated its financial guidance for fiscal year 2024 and provided guidance for the third and fourth quarters of fiscal year 2024.
Positive Outlook
- Total revenue is expected to be in the range of $300 million to $304 million.
- SynBio revenue is expected to be in the range of $118 million to $120 million.
- NGS revenue is expected to be in the range of $162 million to $164 million.
- Gross margin is expected to be approximately 41.5% to 42.0% for fiscal 2024.
- Ending cash, cash equivalents and short-term investments at September 30, 2024 of more than $245 million.
Challenges Ahead
- Biopharma revenue is expected to be approximately $20 million.
- Loss from operations before taxes of approximately $183 million to $188 million.
- Total revenue for Q3 is expected to be approximately $77 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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