Fri. Jan 24th, 2020

Twist Bioscience Corporation (NASDAQ: TWST)

23 min read

Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, declared its financial results and business highlights for the 4th-quarter and full-year fiscal 2k19 finished September 30, 2k19.

FISCAL 2k19 FINANCIAL RESULTS

  • Orders: Total orders received for fiscal 2k19 were $70.00M, compared to $39.40M for fiscal 2k18.
  • Revenue: Total revenues were $54.40M for fiscal 2k19 compared to $25.40M for fiscal 2k18.
  • Cost of Revenues: Cost of revenues for fiscal 2k19 was $47.40M compared to $32.20M for fiscal 2k18.
  • Research and Development Costs: Research and development costs for fiscal 2k19 were $35.70M compared to $20.30M for fiscal 2k18.
  • Selling, General and Administrative Costs: Selling, general and administrative costs for fiscal 2k19 were $80.10M compared to $43.50M for fiscal 2k18.
  • Net Loss: Net loss for fiscal 2k19 was $107.70M, or $3.920 for each share, compared to $71.20M, or $25.510 for each share, for fiscal 2k18.
  • Cash Position: As of September 30, 2k19, the company had $138.10M in cash, cash equivalents, and short term investments.

FISCAL 2k19 4TH-QUARTER FINANCIAL RESULTS

  • Orders: Total orders received for the 3.0-months finished September 30, 2k19 were $20.00M, compared to $12.80M for a similar duration in 2k18.
  • Revenue: Total revenues were $15.70M for the 3.0-months finished September 30, 2k19 compared to $8.40M for a similar duration in 2k18.
  • Cost of Revenues: Cost of revenues for the 3.0-months finished September 30, 2k19 was $12.40M compared to $9.10M for a similar duration in 2k18.
  • Research and Development Costs: Research and development costs for the 3.0-months finished September 30, 2k19 were $10.50M compared to $6.10M for a similar duration in 2k18.
  • Selling, General and Administrative Costs: Selling, general and administrative costs for the 3.0-months finished September 30, 2k19 were $24.40M compared to $13.00M for a similar duration of fiscal 2k18.
  • Net Loss: Net loss for the 3.0-months finished September 30, 2k19 was $31.20M, or $0.960 for each share, compared to $19.80M, or $6.590 for each share, for the similar duration in 2k18.

“We posted a positive 21.00 percent gross margin for the fiscal 2k19 4th-quarter and 13 percent for the full year as our revenue scaled and we leveraged our cost structure,” commented Jim Thorburn, CFO of Twist. “We had a strong finish to the year, adding more customers and strong demand for our genes and NGS tools products. We believe we are positioned for another year of robust growth.”

Fiscal 4th-Quarter 2k19 and Recent Highlights

  • Shipped products to more than 1,300 customers in fiscal 2k19, versus 717 in fiscal 2k18

 

For the full financial year 2k20, Twist provided the following financial guidance:

  • Revenue expected in the range of $80.00M to $84.00M
    • Revenue from Ginkgo Bioworks expected to be approximately $10.00M
    • Synbio revenue excluding Ginkgo Bioworks is expected to be in the range of $32.00 to $33.00M
    • NGS revenue is estimated to be in the range of $37.00 to $40.00M
    • Biopharma revenue is estimated to be approximately $1.00M
  • Gross margin is expected to be approximately 32.00 percent for fiscal 2k20
  • Net loss expected in the range of $103.00M to $106.00M to reflect our inclined investment in our commercial organization, research, and development as well as legal costs related to the Agilent litigation which is scheduled for trial beginning February 24, 2k20.

For the 1st-quarter of fiscal 2k20, Twist provided the following financial guidance:

  • Revenue expected in the range of $15.00M to $16.50M
  • Net loss expected in the range of $31.00M to $32.00M

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © All rights reserved.. | Newsphere by AF themes.