Twist Bioscience Corporation (TWST) Tops Q3 EPS by 6c, Revenues Beat

Twist Bioscience Corporation (NASDAQ: TWST) reported Q3 EPS of ($0.67), $0.06 better than the analyst estimate of ($0.73). Revenue for the quarter came in at $21.2 million versus the consensus estimate of $14.17 million.

“We posted a strong quarter of revenue growth for both synthetic biology and next generation sequencing (NGS) along with solid orders and a robust pipeline of opportunities across our silicon-based technology platform,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “Our disruptive platform combined with our unique business model continues to enable us to expand our footprint among our existing markets, extend our reach through biopharma partnerships and concurrently respond to pressing market needs including demand for COVID-19 related products.”

FISCAL 2020 THIRD QUARTER FINANCIAL RESULTS

• Orders: Total orders received for the third quarter of fiscal 2020 were $24.7 million, compared to $18.1 million for the same period of fiscal 2019.
• Revenue: Total revenues were $21.2 million for the third quarter of fiscal 2020 compared to $13.6 million for the same period of fiscal 2019.
• Cost of Revenues: Cost of revenues for the third quarter of fiscal 2020 was $16.5 million compared to $11.4 million for the same period of fiscal 2019.
• Research and Development Expenses: Research and development expenses for the third quarter of fiscal 2020 were $10.4 million compared to $9.0 million for the same period of fiscal 2019.
• Selling, General and Administrative Expenses: Selling, general and administrative expenses for the third quarter of fiscal 2020 were $22.5 million compared to $21.3 million for the same period of fiscal 2019.
• Net Loss: Net loss for the third quarter of fiscal 2020 was $28.2 million, or $0.67 per share, compared to $27.9 million, or $0.92 per share, for the third quarter of fiscal 2019.
• Cash Position: As of June 30, 2020, the company had $311.8 million in cash, cash equivalents and short term investments.

"During the fiscal third quarter of 2020, we delivered another quarter of sequential growth and we continued to prove out our platform, tapping into new revenue opportunities,” commented Jim Thorburn, CFO of Twist. “We expanded our customer base, booked solid orders and concluded a successful financing, ending the quarter with $311.8 million in cash and short-term investments, well positioned to deliver growth in this challenging environment.”

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

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• Hertz Global cuts Q2 EBITDA outlook on used car market weakness
• Twist Bioscience (TWST) PT Raised to $95 at Barclays