Twist Bioscience Corporation (TWST) Misses Q1 EPS by 33c, Revenues Beat; Offers FY19 Revenue Outlook

Twist Bioscience Corporation (NASDAQ: TWST) reported Q1 EPS of ($1.18), $0.33 worse than the analyst estimate of ($0.85). Revenue for the quarter came in at $11.5 million versus the consensus estimate of $9.73 million.

• Reports Record Revenue of $11.5 Million for First Quarter of Fiscal 2019
• Increasing Orders Show Substantial Growth in Next-Generation Sequencing Products
• Diversified Revenue from Genes Products
• Updates Fiscal 2019 Financial Guidance

“We accomplished several significant objectives during the first quarter of fiscal 2019 focused on expanding our product portfolio, diversifying our customer base and continuing to deliver on our mission to supply DNA for improved health and sustainability,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist. “Our NGS products are resonating with the market and drove top-line growth in the quarter. We received much larger orders more quickly than we anticipated, requiring increased staffing and resulting in higher fixed cost in the near- and medium-term.”

“Moving forward, we intend to maintain a strong top line, work to drive our margin up, and continue to invest strategically in our vertical market opportunities focused on antibody discovery and DNA data storage.”

GUIDANCE:

Twist Bioscience Corporation sees FY2019 revenue of $47-49 million, versus the consensus of $47.37 million.

For earnings history and earnings-related data on Twist Bioscience Corporation (TWST) click here.

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