FALSE000158128000015812802025-02-032025-02-03

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
February 3, 2025
Twist Bioscience Corporation
(Exact name of registrant as specified in its charter)
Delaware001-3872046-2058888
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I. R. S. Employer
Identification No.)

681 Gateway Boulevard
South San Francisco, CA 94080
(Address of principal executive offices, including ZIP code)

(800) 719-0671
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Common StockTWSTThe Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.




Item 2.02Results of Operations and Financial Condition.

On February 3, 2025, Twist Bioscience Corporation (the “Company”) issued a press release announcing its financial results for the quarter ended December 31, 2024. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.Description
99.1
104Cover Page Interactive Data File (formatted as Inline XBRL)



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 3, 2025
Twist Bioscience Corporation
/s/ Judy Yan
Judy Yan
Assistant General Counsel and Assistant Secretary

Exhibit 99.1
image_2.jpg


Twist Bioscience Reports Fiscal First Quarter 2025 Financial Results

Record revenue of $88.7M in 1QFY25; Increase of 24% over $71.5M in 1QFY24,
8th consecutive quarter of sequential growth

Gross margin of 48.3% in 1QFY25; Improvement of 7.8 margin points versus 40.5% in 1QFY24

— Expect revenue in the range of $372 million to $379 million for full year fiscal 2025; expect gross margin over 50% for 4QFY25 —

SOUTH SAN FRANCISCO, Calif. -- (February 3, 2025) — Twist Bioscience Corporation (NASDAQ: TWST), a core mid-cap growth and value equity company in the life sciences segment of the health care sector, today reported financial results and business highlights for the first quarter of fiscal 2025 ended December 31, 2024.

"We ended the first quarter of fiscal 2025 with our eighth consecutive quarter of revenue growth and continued improvement in gross margin. We're starting the fiscal year strong, demonstrating our unwavering commitment to progressing toward adjusted EBITDA breakeven," said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience.

Dr. Leproust continued, "As we move through 2025, we are pursuing multiple growth vectors that we believe will help us to achieve adjusted EBITDA breakeven and then build on our foundation to drive sustainable growth in the years to come. Importantly, we expect to exit the fourth quarter of fiscal 2025 with gross margin over 50%."

See "Non-GAAP Information" below for a discussion of the measure adjusted EBITDA.

FISCAL 2025 FIRST QUARTER FINANCIAL RESULTS

Revenue: Total revenues for the first quarter of fiscal 2025 grew to $88.7 million compared to $71.5 million for the same period of fiscal 2024.
SynBio revenue grew 28% to $34.4 million for the first quarter of fiscal 2025 compared to $26.9 million for the same period of fiscal 2024.
NGS revenue grew 23% to $48.6 million for the first quarter of fiscal 2025 compared to $39.4 million for the same period of fiscal 2024.
Biopharma revenue was $5.7 million for the first quarter of fiscal 2025 compared to $5.2 million in the same period of fiscal 2024.
Cost of Revenues: Cost of revenues for the first quarter of fiscal 2025 was $45.9 million compared to $42.5 million for the same period of fiscal 2024.
Gross Margin: Gross margin for the first quarter of fiscal 2025 increased to 48.3% compared to 40.5% for the same period of fiscal 2024.



Research and Development Expenses: Research and development expenses for the first quarter of fiscal 2025 were $21.3 million compared to $23.1 million for the same period of fiscal 2024.
Selling, General and Administrative Expenses: Selling, general and administrative expenses for the first quarter of fiscal 2025 were $56.2 million compared to $52.8 million for the same period of fiscal 2024.
Net Loss: Net loss attributable to common stockholders for the first quarter of fiscal 2025 was $31.6 million, or $0.53 per share, compared to $43.0 million, or $0.75 per share, for the same period of fiscal 2024.
Adjusted EBITDA: Adjusted EBITDA for the first quarter of fiscal 2025 was $(16.3) million compared to $(27.8) million for the same period of fiscal 2024. See the table included in this release for a reconciliation between our adjusted EBITDA and net loss attributable to common stockholders, the most directly comparable GAAP financial measure.
Cash Position: As of December 31, 2024, the company had $270.8 million in cash, cash equivalents and short-term investments.


Recent Highlights:

Shipped products to approximately 2,376 customers in the first quarter of fiscal 2025, versus approximately 2,140 customers in the first quarter of fiscal 2024.
Shipped approximately 205,000 genes during the first quarter of fiscal 2025, compared with approximately 171,000 genes during the first quarter of fiscal 2024.


Updated Fiscal 2025 Financial Guidance

The following statements are based on Twist’s current expectations for fiscal 2025, including the second quarter of fiscal 2025. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under “Forward-Looking Statements” below.

For the full fiscal year 2025, Twist expects:

Total revenue to be in the range of $372 million to $379 million compared to the previous guidance of $367 million to $377 million, indicating growth of 19 to 21 percent year over year, including:
SynBio revenue of $144 million to $147 million, compared to previous guidance of $142 million to $146 million, growth of 17 to 18 percent
NGS revenue of $205 million to $209 million, compared to previous guidance of $204 million to $209 million, growth of 21 to 24 percent



Biopharma revenue of $23 million, compared to previous guidance of $21 million to $22 million, growth of 13 percent
Gross margin is projected to be approximately 49% for fiscal 2025 with quarterly sequential improvements, compared to previous guidance of 48% and 4QFY25 gross margin is projected to be over 50%
Adjusted EBITDA of approximately $(55) million to $(60) million for fiscal 2025 compared to previous guidance of $(60) million to $(65) million

For the second quarter, Twist expects:

Total revenue of approximately $91 million to $93 million, growth of 21 to 24 percent year over year
SynBio revenue of approximately $35.5 million to $36 million, growth of approximately 19 to 21 percent year over year
NGS revenue of approximately $50 million to $51 million, growth of 23 to 25 percent year over year
Biopharma revenue of approximately $5.5 million to $6.0 million
Adjusted EBITDA of approximately $(16) million with sequential improvements throughout 2025

Non-GAAP Information

This release includes EBITDA and adjusted EBITDA, which are non-GAAP financial measures, for the periods presented. EBITDA is defined as net loss adjusted to exclude interest income, interest expense, income tax expense and depreciation and amortization. Adjusted EBITDA is defined as net loss adjusted to exclude interest income, interest expense, income tax expense, depreciation and amortization, other income/expense, net and stock-based compensation expense detailed in the reconciliation table below that we believe are not indicative of our ongoing results. These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles (GAAP) and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Management believes that these non-GAAP financial measures, when considered together with our financial information prepared in accordance with GAAP, can enhance investors’ and analysts’ ability to meaningfully compare our results from period to period and to our forward-looking guidance, and to identify operating trends in our business. However, non-GAAP information is not superior to financial measures calculated in accordance with GAAP, is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in



accordance with GAAP. A reconciliation table of the most comparable GAAP financial measure to the non-GAAP financial measures is included at the end of this press release.

A reconciliation of adjusted EBITDA for fiscal 2025 and the second quarter of fiscal 2025 to a corresponding GAAP financial guidance measure is not available on a forward-looking basis because the Company does not provide guidance on GAAP net loss and is not able to present the various reconciling cash and non-cash items between GAAP net loss and adjusted EBITDA without unreasonable effort. In particular, stock-based compensation expense is impacted by the Company’s future hiring and retention needs, as well as the future fair market value of its common stock, all of which is difficult to predict and is subject to change. The actual amount of these expenses during fiscal 2025 and the second quarter of fiscal 2025 will have a significant impact on Twist’s future GAAP financial results.


Conference Call Information

The company plans to hold a conference call and live audio webcast for analysts and investors at 8:00 a.m. Eastern Time today to discuss its financial results and provide an update on the company’s business. The conference call will be webcast live through the Investor Relations section under the “Company” tab at www.twistbioscience.com. Those parties interested in participating via telephone must register on the Company’s Investor Relations website. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. The webcast replay will be available for two weeks.


About Twist Bioscience

Twist Bioscience is a leading and rapidly growing synthetic biology and genomics company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. Twist is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and development. Twist is also pursuing longer-term opportunities in digital data storage in DNA and biologics drug discovery. Twist makes products for use across many industries including healthcare, industrial chemicals, agriculture and academic research.

Follow us on LinkedIn | X | YouTube | Instagram | Bluesky

Legal Notice Regarding Forward-Looking Statements




This press release contains forward-looking statements. All statements other than statements of historical facts contained herein are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, projections under the heading “Updated Fiscal 2025 Financial Guidance” statements regarding future growth and expansion, timing of the development of DNA data storage solutions, revenue and gross margin growth, estimated annual revenues, ability and timing to achieve profitability and ability to increase gross margin and Twist Bioscience’s other expectations regarding its future operations plans and financial performance, introduction of new products, and newly announced partnerships. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Twist Bioscience’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the ability to attract new customers and retain and grow sales from existing customers; the ability of Twist Bioscience to achieve sufficient revenue to achieve or maintain positive cash flow from operations or profitability in any given period; ability to obtain financing when necessary; risks and uncertainties of rapidly changing technologies and extensive competition in synthetic biology that could make the products Twist Bioscience is developing obsolete or non-competitive; ability to expand DNA synthesis manufacturing capacity; dependence on one supplier for a critical component; dependence on key personnel; additional regulations that could increase Twist Bioscience's costs and delay commercialization efforts; and the ability to maintain and enforce intellectual property protection. For a description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Twist Bioscience’s business in general, see Twist Bioscience’s risk factors set forth in Twist Bioscience’s Annual Report on Form 10-K for the year ended September 30, 2024 filed with the Securities and Exchange Commission on November 18, 2024. Any forward-looking statements contained in this press release speak only as of the date hereof, and Twist Bioscience specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

For Investors:
Angela Bitting
SVP, Corporate Affairs
925-202-6211
abitting@twistbioscience.com

For Media:
Amanda Houlihan
Communications Manager
774-265-5334



ahoulihan@twistbioscience.com





Twist Bioscience Corporation
Condensed Consolidated Statements of Operations
(Unaudited)
(in thousands)

Three months ended
December 31,
(In thousands, except per share data)20242023
Revenues$88,713 $71,498 
Operating expenses:
Cost of revenues$45,873 $42,536 
Research and development21,30723,099
Selling, general and administrative56,17752,840
Total operating expenses$123,357 $118,475 
Loss from operations$(34,644)$(46,977)
Interest income3,2404,120
Interest expense(24)
Other income (expense), net(69)(31)
Income tax expense(97)(120)
Net loss$(31,594)$(43,008)
Net loss per share, basic and diluted$(0.53)$(0.75)
Weighted average shares used in computing net loss per share, basic and diluted59,16257,497






Twist Bioscience Corporation
Condensed Consolidated Balance Sheets
(Unaudited)
(in thousands)

(In thousands)December 31,
2024
September 30,
2024
Assets
Current assets:
Cash and cash equivalents$221,403 $226,316 
Short-term investments49,42450,083
Accounts receivable, net39,31534,903
Inventories23,51824,078
Prepaid expenses and other current assets11,64911,396
Total current assets$345,309 $346,776 
Property and equipment, net100,669102,520
Operating lease right-of-use assets56,47558,829
Other non-current assets106,127106,198
Total assets$608,580 $614,323 
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable$7,503 $1,630 
Accrued expenses20,12915,104
Accrued compensation21,74233,650
Current portion of operating lease liability15,03014,805
Other current liabilities5,2425,817
Total current liabilities$69,646 $71,006 
Operating lease liability, net of current portion67,58670,221
Liability related to the sale of future revenue15,000
Other non-current liabilities407407
Total liabilities$152,639 $141,634 
Total stockholders’ equity$455,941 $472,689 
Total liabilities and stockholders’ equity$608,580 $614,323 






Twist Bioscience Corporation
Adjusted EBITDA
(Unaudited)
(in thousands)

The following table sets forth a reconciliation between our Adjusted EBITDA and net loss attributable to Twist Bioscience Corporation, the most directly comparable GAAP financial measure, for each of the periods presented:


Three months ended
December 31,
(In thousands)20242023
GAAP net income $(31,594)$(43,008)
Add (Deduct) adjustments:
Interest income(3,240)(4,120)
Interest expense241
Income tax expense97120
Depreciation and amortization6,3828,171
EBITDA$(28,331)$(38,837)
Add (Deduct) adjustments:
Other income/expense, net6931
Stock-based compensation expense 11,99111,020
Adjusted EBITDA $(16,271)$(27,786)

v3.25.0.1
Cover Page
Feb. 03, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 03, 2025
Entity Registrant Name Twist Bioscience Corporation
Entity Incorporation, State or Country Code DE
Entity File Number 001-38720
Entity Tax Identification Number 46-2058888
Entity Address, Address Line One 681 Gateway Boulevard
Entity Address, City or Town South San Francisco
Entity Address, State or Province CA
Entity Address, Postal Zip Code 94080
City Area Code 800
Local Phone Number 719-0671
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock
Trading Symbol TWST
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0001581280

Twist Bioscience (NASDAQ:TWST)
과거 데이터 주식 차트
부터 1월(1) 2025 으로 2월(2) 2025 Twist Bioscience 차트를 더 보려면 여기를 클릭.
Twist Bioscience (NASDAQ:TWST)
과거 데이터 주식 차트
부터 2월(2) 2024 으로 2월(2) 2025 Twist Bioscience 차트를 더 보려면 여기를 클릭.