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Sep 30, 2023
Twist Bioscience Q4 2023 Earnings Report
Twist Bioscience reported a revenue increase of 20% year over year, with notable strength in NGS and synbio. The company took action to align cost structure with profitability goals and implemented strategies for key products.
Key Takeaways
Twist Bioscience reported its Q4 and Full Year Fiscal 2023 financial results, with Q4 revenue growing to $66.9 million compared to $57.3 million for the same period of fiscal 2022. The company's FY23 revenue reached $245.1 million, a 20% increase over the previous year. Net loss for Q4 decreased to $46.2 million, or $0.81 per share, compared to $51.1 million, or $0.91 per share, for the same period last year.
Total orders received for fiscal 2023 grew to $264 million compared to $226.4 million for fiscal 2022.
Total revenues for fiscal 2023 grew to $245.1 million compared to $203.6 million for fiscal 2022.
Net loss attributable to common stockholders for fiscal 2023 decreased to $204.6 million, or $3.60 per share, compared to $217.9 million, or $4.04 per share, for fiscal 2022.
As of September 30, 2023, the company had $336.4 million in cash, cash equivalents and investments.
Forward Guidance
Twist Bioscience provided financial guidance for the full fiscal year 2024, expecting total revenue in the range of $285 million to $290 million and for the fourth quarter of fiscal year 2024, expecting total revenue of approximately $78 million.
Positive Outlook
- Total revenue is expected to be in the range of $285 million to $290 million, growth of 16 to 18 percent
- SynBio revenue of $113 to $116 million, growth of 16 to 18 percent
- NGS revenue of $147 to $149 million, growth of 19 to 20 percent
- Biopharma revenue of approximately $25 million, growth of 8 percent
- Gross margin is projected to be approximately 39% to 40%
Challenges Ahead
- Operating expenses of approximately $294 to $298 million
- R&D expense of $100 to $102 million
- SG&A expense of $194 to $196 million
- Loss from operations before taxes of approximately $180 to 188 million
Historical Earnings Impact
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