Twist Bioscience Corp. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Twist Bioscience Corp. filed its quarterly 10-Q report for the period ending December 31, 2023.</b>

AI Summary

Twist Bioscience Corp (TWST) filed a Quarterly Report (10-Q) with the SEC on February 2, 2024. Twist Bioscience Corp. reported financial results for the quarter ended December 31, 2023. The filing covers the period from October 1, 2023, to December 31, 2023. The company's fiscal year ends on September 30. The filing is a 10-Q, indicating a quarterly report. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking Twist Bioscience Corp, this filing contains several important signals. This 10-Q filing provides investors with an update on Twist Bioscience's financial performance and operational status during the first fiscal quarter of 2024. The detailed financial information within the report is crucial for understanding the company's revenue, expenses, and overall financial health, aiding investment decisions.

Risk Assessment

Risk Level: medium — Twist Bioscience Corp shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant negative or positive financial disclosures that would drastically alter the risk profile based solely on the header information.

Analyst Insight

Review the full 10-Q filing to analyze revenue growth, net income/loss, and cash flow for the quarter ending December 31, 2023, to assess operational performance.

Key Numbers

• 2023-12-31 — Period of Report (Quarterly report end date)
• 2024-02-02 — Filed As Of Date (Date the report was filed)
• 0930 — Fiscal Year End (Company's fiscal year end month and day)

Key Players & Entities

• Twist Bioscience Corp. (company) — Filer
• 2023-12-31 (date) — Period of Report
• 2024-02-02 (date) — Filed as of date
• DE (state) — State of Incorporation
• 2023-10-01 (date) — Quarterly period start date
• 2023-12-31 (date) — Quarterly period end date

FAQ

Industry Context

Twist Bioscience operates in the biotechnology sector, focusing on synthetic biology and DNA synthesis.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the revenue and cost of goods sold for the quarter.
2. Examine the company's operating expenses, including R&D and SG&A.
3. Review the balance sheet for cash, debt, and equity positions.

Key Dates

• 2023-12-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-02-02: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 10-Q filing for the period ending December 31, 2023. Comparative data from previous filings will be available within the full document.

Key Financial Figures

• $0.1 million — accordingly, recorded a net increase of $0.1 million to accumulated deficit as of the beginn

Filing Documents

• twst-20231231.htm (10-Q) — 930KB
• twst-adamlaponisagreementx.htm (EX-10.1) — 183KB
• twst-20231231x10qxex311.htm (EX-31.1) — 10KB
• twst-20231231x10qxex312.htm (EX-31.2) — 10KB
• twst-20231231x10qxex321.htm (EX-32.1) — 5KB
• twst-20231231x10qxex322.htm (EX-32.2) — 4KB
• twistlogoa.jpg (GRAPHIC) — 5KB
• twst-20231231_g1.jpg (GRAPHIC) — 1KB
• 0001628280-24-003051.txt (&nbsp;) — 6542KB
• twst-20231231.xsd (EX-101.SCH) — 45KB
• twst-20231231_cal.xml (EX-101.CAL) — 70KB
• twst-20231231_def.xml (EX-101.DEF) — 206KB
• twst-20231231_lab.xml (EX-101.LAB) — 658KB
• twst-20231231_pre.xml (EX-101.PRE) — 421KB
• twst-20231231_htm.xml (XML) — 867KB

Forward-looking statements

Forward-looking statements 2

Financial information

PART I. Financial information 4 Item 1. Unaudited Financial Statements 4 Condensed Consolidated Balance Sheets (Unaudited) 4 Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.

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

Management's discussion and analysis of financial condition and results of operations 23 Item 3.

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 28 Item 4.

Controls and procedures

Controls and procedures 29

Other information

PART II. Other information 30 Item 1.

Legal proceedings

Legal proceedings 30 Item 1A.

Risk factors

Risk factors 30 Item 2. Unregistered sales of equity securities and use of proceeds 32 Item 3. Defaults upon senior securities 32 Item 4. Mine safety disclosures 32 Item 5. Other information 32 Item 6. Exhibits 33

Signatures

Signatures 34 1 Table of Contents

Forward-looking statements

Forward-looking statements This Quarterly Report on Form 10-Q for the quarter ended December 31, 2023, or Form 10-Q, 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 protect our intellectual property, including our proprietary DNA synthesis platform; costs associated with defending intellect

Financial information

PART I. Financial information

Financial statements

Item 1. Financial statements Twist Bioscience Corporation Condensed Consolidated Balance Sheets (unaudited) (In thousands except per share data) December 31, 2023 September 30, 2023 Assets Current assets: Cash and cash equivalents $ 266,269 $ 286,470 Short-term investments 44,875 49,943 Accounts receivable, net 35,354 44,064 Inventories 30,863 32,063 Prepaid expenses and other current assets 12,870 11,716 Total current assets $ 390,231 $ 424,256 Property and equipment, net 126,225 131,830 Operating lease right-of-use assets 69,093 71,531 Goodwill 85,811 85,811 Intangible assets, net 53,190 54,483 Restricted cash, non-current 2,847 2,811 Other non-current assets 5,418 5,681 Total assets $ 732,815 $ 776,403 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 9,256 $ 14,052 Accrued expenses 13,959 10,754 Accrued compensation 20,787 25,818 Current portion of operating lease liability 14,808 14,896 Other current liabilities 6,418 7,803 Total current liabilities $ 65,228 $ 73,323 Operating lease liability, net of current portion 77,070 79,173 Other non-current liabilities 475 475 Total liabilities $ 142,773 $ 152,971 Commitments and contingencies (Note 6) Stockholders' equity Common stock, $ 0.00001 par value — 100,000 and 100,000 shares authorized at December 31, 2023 and September 30, 2023, respectively; 57,779 and 57,557 shares issued and outstanding at December 31, 2023 and September 30, 2023, respectively $ — $ — Additional paid-in capital 1,666,797 1,657,222 Accumulated other comprehensive income ( 565 ) ( 756 ) Accumulated deficit ( 1,076,190 ) ( 1,033,034 ) Total stockholders' equity $ 590,042 $ 623,432 Total liabilities and stockholders' equity $ 732,815 $ 776,403 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 4 Table of Contents Twist Bioscience Corporation Condensed Consolidated Statements of Operations and Comprehensive Loss (u

View Full Filing

View this 10-Q filing on SEC EDGAR