Twist Bioscience Files Q1 Fiscal 2025 10-Q

TL;DR

Twist Bioscience dropped its Q1 FY25 10-Q. Check financials.

AI Summary

Twist Bioscience Corp. filed its 10-Q for the period ending December 31, 2024. The filing covers the first quarter of their fiscal year 2025. Key financial data and operational details for this period are presented, reflecting the company's ongoing activities in the biological products sector.

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 — As a company in the biological products sector, Twist Bioscience faces inherent risks related to research and development, market adoption, and competition.

Key Players & Entities

• Twist Bioscience Corp. (company) — Filer of the 10-Q report
• 2024-12-31 (date) — End of the reporting period
• 2025-02-03 (date) — Filing date of the report

FAQ

Filing Documents

• twst-20241231.htm (10-Q) — 876KB
• twst-20241231x10qxex311.htm (EX-31.1) — 10KB
• twst-20241231x10qxex312.htm (EX-31.2) — 10KB
• twst-20241231x10qxex321.htm (EX-32.1) — 5KB
• twst-20241231x10qxex322.htm (EX-32.2) — 4KB
• twst-20241231_g1.jpg (GRAPHIC) — 1KB
• 0001628280-25-003461.txt ( ) — 6076KB
• twst-20241231.xsd (EX-101.SCH) — 41KB
• twst-20241231_cal.xml (EX-101.CAL) — 65KB
• twst-20241231_def.xml (EX-101.DEF) — 151KB
• twst-20241231_lab.xml (EX-101.LAB) — 553KB
• twst-20241231_pre.xml (EX-101.PRE) — 382KB
• twst-20241231_htm.xml (XML) — 865KB

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 21 Item 3.

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 26 Item 4.

Controls and procedures

Controls and procedures 26

Other information

PART II. Other information 26 Item 1.

Legal proceedings

Legal proceedings 26 Item 1A.

Risk factors

Risk factors 27 Item 2. Unregistered sales of equity securities and use of proceeds 27 Item 3. Defaults upon senior securities 27 Item 4. Mine safety disclosures 27 Item 5. Other information 27 Item 6. Exhibits 28

Signatures

Signatures 29 1 Table of Contents

Forward-looking statements

Forward-looking statements This Quarterly Report on Form 10-Q for the quarter ended December 31, 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, future growth, expansion and other expectations regarding future operations plans and financial performance. 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; our ability to leverage our investment in our manufacturing facility in Wilsonville, Oregon; our ability to protect our intellectual property, including our proprietary DNA synthesis platform; costs associated with defending intellectual property infrin

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, 2024 September 30, 2024 Assets Current assets: Cash and cash equivalents $ 221,403 $ 226,316 Short-term investments 49,424 50,083 Accounts receivable, net 39,315 34,903 Inventories 23,518 24,078 Prepaid expenses and other current assets 11,649 11,396 Total current assets $ 345,309 $ 346,776 Property and equipment, net 100,669 102,520 Operating lease right-of-use assets 56,475 58,829 Goodwill 85,811 85,811 Intangible assets, net 14,215 14,478 Restricted cash, non-current 2,656 2,816 Other non-current assets 3,445 3,093 Total assets $ 608,580 $ 614,323 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 7,503 $ 1,630 Accrued expenses 20,129 15,104 Accrued compensation 21,742 33,650 Current portion of operating lease liability 15,030 14,805 Other current liabilities 5,242 5,817 Total current liabilities $ 69,646 $ 71,006 Operating lease liability, net of current portion 67,586 70,221 Liability related to the sale of future revenue 15,000 — Other non-current liabilities 407 407 Total liabilities $ 152,639 $ 141,634 Commitments and contingencies (Note 6) Stockholders' equity Common stock, $ 0.00001 par value — 100,000 and 100,000 shares authorized at December 31, 2024 and September 30, 2024, respectively; 59,582 and 58,877 shares issued and outstanding at December 31, 2024 and September 30, 2024, respectively $ — $ — Additional paid-in capital 1,730,092 1,715,119 Accumulated other comprehensive income/(loss) ( 649 ) ( 522 ) Accumulated deficit ( 1,273,502 ) ( 1,241,908 ) Total stockholders' equity $ 455,941 $ 472,689 Total liabilities and stockholders' equity $ 608,580 $ 614,323 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 4 Table of Contents Twist Bioscience Corporation Condensed

View Full Filing

View this 10-Q filing on SEC EDGAR