Twist Bioscience Files Q3 2024 10-Q

TL;DR

Twist Bioscience dropped its Q3 2024 10-Q. Check financials.

AI Summary

Twist Bioscience Corp. filed its 10-Q for the period ending June 30, 2024. The filing covers the third quarter of fiscal year 2024. Key financial data and operational details for this period are presented, including comparative figures from previous fiscal periods.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for Twist Bioscience, crucial for understanding the company's trajectory in the synthetic biology market.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures for public companies, but the specific financial health and market position of Twist Bioscience can introduce medium risk.

Key Numbers

• Q3 2024 — Fiscal Quarter (Reporting period for the 10-Q filing)
• 2024-06-30 — Period End Date (The end date of the financial reporting period)
• 2024-08-02 — Filing Date (The date the 10-Q was officially submitted to the SEC)

Key Players & Entities

• Twist Bioscience Corp. (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of the reporting period
• 2024-08-02 (date) — Filing date
• 0001581280 (company) — Central Index Key for Twist Bioscience Corp.

FAQ

Filing Documents

• twst-20240630.htm (10-Q) — 1246KB
• twst-20240630x10qxex311.htm (EX-31.1) — 10KB
• twst-20240630x10qxex312.htm (EX-31.2) — 10KB
• twst-20240630x10qxex321.htm (EX-32.1) — 5KB
• twst-20240630x10qxex322.htm (EX-32.2) — 4KB
• twst-20240630_g1.jpg (GRAPHIC) — 1KB
• 0001628280-24-034434.txt ( ) — 7176KB
• twst-20240630.xsd (EX-101.SCH) — 47KB
• twst-20240630_cal.xml (EX-101.CAL) — 72KB
• twst-20240630_def.xml (EX-101.DEF) — 212KB
• twst-20240630_lab.xml (EX-101.LAB) — 639KB
• twst-20240630_pre.xml (EX-101.PRE) — 444KB
• twst-20240630_htm.xml (XML) — 1024KB

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) 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 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 24 Item 3.

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 33 Item 4.

Controls and procedures

Controls and procedures 33

Other information

PART II. Other information 34 Item 1.

Legal proceedings

Legal proceedings 34 Item 1A.

Risk factors

Risk factors 35 Item 2. Unregistered sales of equity securities and use of proceeds 35 Item 3. Defaults upon senior securities 35 Item 4. Mine safety disclosures 35 Item 5. Other information 35 Item 6. Exhibits 36

Signatures

Signatures 37 1 Table of Contents

Forward-looking statements

Forward-looking statements This Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, 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 develop and commercialize additional products in the synthetic biology, biologic drug and data storage industries, including our Ex

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) June 30, 2024 September 30, 2023 Assets Current assets: Cash and cash equivalents $ 239,142 $ 286,470 Short-term investments 50,276 49,943 Accounts receivable, net 31,988 44,064 Inventories 28,484 32,063 Prepaid expenses and other current assets 11,941 11,716 Total current assets $ 361,831 $ 424,256 Property and equipment, net 106,339 131,830 Operating lease right-of-use assets 61,277 71,531 Goodwill 85,811 85,811 Intangible assets, net 14,741 54,483 Restricted cash, non-current 2,895 2,811 Other non-current assets 5,224 5,681 Total assets $ 638,118 $ 776,403 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 6,626 $ 14,052 Accrued expenses 14,838 10,754 Accrued compensation 31,659 25,818 Current portion of operating lease liability 14,555 14,896 Other current liabilities 6,079 7,803 Total current liabilities $ 73,757 $ 73,323 Operating lease liability, net of current portion 72,625 79,173 Other non-current liabilities 597 475 Total liabilities $ 146,979 $ 152,971 Commitments and contingencies (Note 6) Stockholders' equity Common stock, $ 0.00001 par value — 100,000 and 100,000 shares authorized at June 30, 2024 and September 30, 2023, respectively; 58,519 and 57,557 shares issued and outstanding at June 30, 2024 and September 30, 2023, respectively $ — $ — Additional paid-in capital 1,699,127 1,657,222 Accumulated other comprehensive income ( 735 ) ( 756 ) Accumulated deficit ( 1,207,253 ) ( 1,033,034 ) Total stockholders' equity $ 491,139 $ 623,432 Total liabilities and stockholders' equity $ 638,118 $ 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 (unaudited)

View Full Filing

View this 10-Q filing on SEC EDGAR