Twist Bioscience Files 2024 10-K

TL;DR

Twist Bioscience dropped its 2024 10-K. Check financials for FY ending Sept 30.

AI Summary

Twist Bioscience Corp. filed its 2024 10-K report, detailing its fiscal year ending September 30, 2024. The company, based in South San Francisco, CA, operates in the biological products sector. The filing covers financial performance and business operations for the fiscal year, with specific financial data and operational details to be found within the full document.

Why It Matters

This 10-K filing provides a comprehensive overview of Twist Bioscience's financial health and strategic direction for the fiscal year 2024, crucial for investors and stakeholders to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — As a company in the biotechnology sector, Twist Bioscience faces inherent risks related to research and development, market adoption, and competition, which are detailed in its 10-K filing.

Key Numbers

• 2024-09-30 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 2024-11-18 — Filing Date (The date the 10-K was officially filed with the SEC.)

Key Players & Entities

• Twist Bioscience Corp. (company) — Filer of the 10-K report
• 2024-09-30 (date) — Fiscal year end date
• South San Francisco, CA (location) — Company headquarters location
• BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] (industry) — Standard Industrial Classification

FAQ

Key Financial Figures

• $313.0 million — roximately 3,562 customers and reported $313.0 million in revenue, including $169.0 million in
• $169.0 million — ed $313.0 million in revenue, including $169.0 million in revenue from the healthcare sector,
• $83.5 million — in revenue from the healthcare sector, $83.5 million in revenue from the chemicals/materials
• $58.5 million — ue from the chemicals/materials sector, $58.5 million in revenue from the academic research s
• $2.1 million — e from the academic research sector and $2.1 million in revenue from the food/agriculture se
• $2 — thetic biology alone expected to have a $2-4 trillion global impact by 2030-2040.
• $15 million — OMA Royalty under which they paid Twist $15 million cash in exchange for 50% of future mile

Filing Documents

• twst-20240930.htm (10-K) — 2010KB
• twst-fy24ex1013jamesthorbu.htm (EX-10.13) — 72KB
• twst-fy24ex1014xaxrexecuti.htm (EX-10.14) — 77KB
• twst-fy24ex1015xtwistxaxre.htm (EX-10.15) — 71KB
• twst-fy24ex1016xtwistxaxre.htm (EX-10.16) — 72KB
• twst-fy24ex1017xaxrexecuti.htm (EX-10.17) — 72KB
• twst-fy24ex1018xaxrexecuti.htm (EX-10.18) — 77KB
• twst-fy24ex1019xwernerrobs.htm (EX-10.19) — 24KB
• twst-fy24ex191insidertradi.htm (EX-19.1) — 126KB
• twst-fy2410kexhibit211.htm (EX-21.1) — 4KB
• twst-fy2410kexhibit231.htm (EX-23.1) — 5KB
• twst-20240930x10kxex311.htm (EX-31.1) — 10KB
• twst-20240930x10kxex312.htm (EX-31.2) — 10KB
• twst-20240930x10kxex321.htm (EX-32.1) — 5KB
• twst-20240930x10kxex322.htm (EX-32.2) — 4KB
• twst-fy24ex971compensation.htm (EX-97.1) — 30KB
• image_0.jpg (GRAPHIC) — 5KB
• image_01.jpg (GRAPHIC) — 5KB
• image_01a.jpg (GRAPHIC) — 44KB
• image_02.jpg (GRAPHIC) — 3KB
• image_02a.jpg (GRAPHIC) — 5KB
• image_0a.jpg (GRAPHIC) — 50KB
• twst-20240930_g1.jpg (GRAPHIC) — 1KB
• twst-20240930_g2.jpg (GRAPHIC) — 90KB
• 0001628280-24-048262.txt ( ) — 11708KB
• twst-20240930.xsd (EX-101.SCH) — 65KB
• twst-20240930_cal.xml (EX-101.CAL) — 98KB
• twst-20240930_def.xml (EX-101.DEF) — 315KB
• twst-20240930_lab.xml (EX-101.LAB) — 860KB
• twst-20240930_pre.xml (EX-101.PRE) — 621KB
• twst-20240930_htm.xml (XML) — 1564KB

Business

Business 3 Item 1A.

Risk factors

Risk factors 15 Item 1B. Unresolved staff comments 42 Item 1C . Cybersecurity 42 Item 2.

Properties

Properties 43 Item 3.

Legal proceedings

Legal proceedings 44 Item 4. Mine safety disclosures 44 PART II Item 5. Market for registrant's common equity, related stockholder matters and issuer purchases of equity securities 44 Item 6. [Reserved] 46 Item 7.

Management's discussion and analysis of financial condition and results of operations

Management's discussion and analysis of financial condition and results of operations 47 Item 7A.

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 58 Item 8. Consolidated financial statements and supplementary data 59 Item 9. Changes in and disagreements with accountants on accounting and financial disclosure 93 Item 9A.

Controls and procedures

Controls and procedures 93 Item 9B. Other information 94

C

Item 9 C . Disclosure regarding foreign jurisdiction that prevent inspections 94 PART III Item 10. Directors, executive officers and corporate governance 96 Item 11.

Executive compensation

Executive compensation 96 Item 12.

Security ownership of certain beneficial owners and management and related stockholder matters

Security ownership of certain beneficial owners and management and related stockholder matters 96 Item 13. Certain relationships and related transactions, and director independence 96 Item 14. Principal accounting fees and services 96 PART IV Item 15. Exhibits, financial statement schedules 97 Item 16. Form of 10-K summary 100

SIGNATURES

SIGNATURES 101 Table of Contents

Forward-looking statements

Forward-looking statements This Annual Report on Form 10-K for the fiscal year ended September 30, 2024, or Form 10-K, contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. These statements relate to, among other matters, plans for product development and licensing to third parties, plans and timeframe for the commercial development of DNA data storage capabilities, expectations regarding market penetration, anticipated customer conversions to our products, plans to expand in the international markets, and identification and development of potential antibody candidates. Forward-looking statements are also identified by the words "believe," "will," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "could," "potentially" and variations of such words and similar expressions. You should not rely upon forward-looking statements as predictions of future events. Such statements are based on management's expectations as of the date of this filing and involve many risks and uncertainties that could cause our actual results, events or circumstances to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include: our ability to increase our revenue and our revenue growth rate; our ability to accurately estimate capital requirements and our needs for additional financing; our estimates of the size of our market opportunities; our ability to increase DNA production, reduce turnaround times and drive cost reductions for our customers; our ability to effectively manage our growth; our ability to successfully enter new markets and manage our international expansion; our ability to develop and commercialize additional products in the synthetic biology, biologic drug and data storage industries, including

Business

Item 1. Business At Twist Bioscience Corporation, we work in service of our customers who are changing the world for the better. In fields such as health care, food/agriculture, industrial chemicals/materials, academic research and data storage, by using our products, our customers are developing ways to better lives and improve the sustainability of the planet. We believe Twist Bioscience is uniquely positioned to help accelerate their efforts and the faster our customers succeed, the better for all of us. We have developed a disruptive DNA synthesis platform to industrialize the engineering of biology that provides DNA for a wide range of uses and markets. The core of our platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by "writing" DNA on a silicon chip. We have miniaturized traditional chemical DNA synthesis reactions to write over 1,000,000 pieces of DNA (oligonucleotides) up to 500 bases through direct synthesis on each silicon chip, approximately the size of a large mobile phone, reducing by 99.8% the amount of chemicals we estimate would be used per gene as compared to plate-based synthesis. We have combined our silicon-based DNA writing technology with proprietary software, scalable commercial infrastructure and an e-commerce platform to create an integrated technology platform that enables us to achieve high levels of quality, precision, automation, and manufacturing throughput at a significantly lower cost and quicker than our competitors. We have applied our unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next generation sequencing, or NGS, sample preparation, and antibody libraries for drug discovery and development, all designed to enable our customers to conduct research more efficiently and effectively. Leveraging our same platform, we have expanded our footprint beyond DNA synthesis to manufacture synthetic RNA as well as antibody

View Full Filing

View this 10-K filing on SEC EDGAR