Twist Bioscience Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Twist Bioscience has an operating margin of -36.2%, meaning the company retains $-36 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -70.6% the prior year.
Twist Bioscience's revenue surged 20.3% year-over-year to $376.6M, reflecting rapid business expansion. This strong growth earns a score of 87/100.
Twist Bioscience carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.64, Twist Bioscience holds $3.64 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Twist Bioscience generated -$47.6M in operating cash flow, capex of $28.0M consumed most of it, leaving -$75.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Twist Bioscience passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Twist Bioscience generates $0.61 in operating cash flow (-$47.6M OCF vs -$77.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Twist Bioscience (TWST) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Twist Bioscience generated $376.6M in revenue in fiscal year 2025. This represents an increase of 20.3% from the prior year.
Twist Bioscience's EBITDA was -$111.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 41.2% from the prior year.
Twist Bioscience generated -$75.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 9.3% from the prior year.
Twist Bioscience reported -$77.7M in net income in fiscal year 2025. This represents an increase of 62.8% from the prior year.
Twist Bioscience earned $-1.30 per diluted share (EPS) in fiscal year 2025. This represents an increase of 63.9% from the prior year.
Twist Bioscience held $183.0M in cash against $0 in long-term debt as of fiscal year 2025.
Twist Bioscience had 61M shares outstanding in fiscal year 2025. This represents an increase of 3.0% from the prior year.
Twist Bioscience's gross margin was 50.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 8.1 percentage points from the prior year.
Twist Bioscience's operating margin was -36.2% in fiscal year 2025, reflecting core business profitability. This is up 34.4 percentage points from the prior year.
Twist Bioscience's net profit margin was -20.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 46.1 percentage points from the prior year.
Twist Bioscience invested $80.3M in research and development in fiscal year 2025. This represents a decrease of 11.6% from the prior year.
Twist Bioscience invested $28.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 451.7% from the prior year.
TWST Income Statement
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $103.7M+8.0% | $96.1M+3.5% | $92.8M+4.6% | $88.7M+8.9% | $81.5M+8.2% | $75.3M+5.3% | $71.5M+12.2% | $63.7M |
| Cost of Revenue | $49.7M+11.1% | $44.8M-4.3% | $46.8M+1.9% | $45.9M-0.7% | $46.2M+4.0% | $44.4M+4.4% | $42.5M+1.7% | $41.8M |
| Gross Profit | $54.0M+5.2% | $51.3M+11.4% | $46.0M+7.4% | $42.8M+21.5% | $35.3M+14.2% | $30.9M+6.6% | $29.0M+32.3% | $21.9M |
| R&D Expenses | $17.1M-5.1% | $18.0M-24.5% | $23.9M+12.2% | $21.3M-5.2% | $22.5M-7.0% | $24.1M+4.5% | $23.1M-5.8% | $24.5M |
| SG&A Expenses | $69.7M+10.1% | $63.4M-0.5% | $63.7M+13.3% | $56.2M-1.1% | $56.8M+2.1% | $55.6M+5.3% | $52.8M+14.7% | $46.1M |
| Operating Income | -$32.9M-9.2% | -$30.1M+27.5% | -$41.6M-20.0% | -$34.6M+61.0% | -$88.9M-81.9% | -$48.9M-4.1% | -$47.0M+22.7% | -$60.8M |
| Interest Expense | N/A | N/A | $143K+495.8% | $24K | $0 | $0 | $0-100.0% | $1K |
| Income Tax | $253K+32.5% | $191K+9.1% | $175K+80.4% | $97K-49.2% | $191K-44.6% | $345K+187.5% | $120K-80.7% | $622K |
| Net Income | -$30.5M-249.6% | $20.4M+151.8% | -$39.3M-24.5% | -$31.6M+63.1% | -$85.6M-88.1% | -$45.5M-5.8% | -$43.0M+25.1% | -$57.4M |
| EPS (Diluted) | $-0.50-251.5% | $0.33+150.0% | $-0.66-24.5% | $-0.53+63.9% | $-1.47-86.1% | $-0.79-5.3% | $-0.75+25.7% | $-1.01 |
TWST Balance Sheet
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $638.1M-0.9% | $643.6M+8.1% | $595.6M-2.1% | $608.6M-0.9% | $614.3M-12.6% | $702.8M-4.1% | $732.8M-5.6% | $776.4M |
| Current Assets | $303.9M-10.6% | $339.8M+0.4% | $338.4M-2.0% | $345.3M-0.4% | $346.8M-6.7% | $371.9M-4.7% | $390.2M-8.0% | $424.3M |
| Cash & Equivalents | $148.6M-26.2% | $201.4M-4.3% | $210.4M-5.0% | $221.4M-2.2% | $226.3M-7.0% | $243.3M-8.6% | $266.3M-7.1% | $286.5M |
| Inventory | $32.9M+26.9% | $25.9M+24.3% | $20.9M-11.3% | $23.5M-2.3% | $24.1M-20.7% | $30.4M-1.6% | $30.9M-3.7% | $32.1M |
| Accounts Receivable | $50.1M+0.4% | $49.9M-0.2% | $49.9M+27.0% | $39.3M+12.6% | $34.9M-3.0% | $36.0M+1.8% | $35.4M-19.8% | $44.1M |
| Goodwill | $82.2M0.0% | $82.2M-4.2% | $85.8M0.0% | $85.8M0.0% | $85.8M0.0% | $85.8M0.0% | $85.8M0.0% | $85.8M |
| Total Liabilities | $182.0M+10.0% | $165.4M+6.4% | $155.5M+1.9% | $152.6M+7.8% | $141.6M-0.8% | $142.7M0.0% | $142.8M-6.7% | $153.0M |
| Current Liabilities | $80.4M-7.6% | $87.1M+16.1% | $75.0M+7.7% | $69.6M-1.9% | $71.0M+5.2% | $67.5M+3.5% | $65.2M-11.0% | $73.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $456.1M-4.6% | $478.2M+8.7% | $440.1M-3.5% | $455.9M-3.5% | $472.7M-15.6% | $560.1M-5.1% | $590.0M-5.4% | $623.4M |
| Retained Earnings | -$1.4B-4.5% | -$1.3B+1.6% | -$1.3B-3.1% | -$1.3B-2.5% | -$1.2B-10.7% | -$1.1B-4.2% | -$1.1B-4.2% | -$1.0B |
TWST Cash Flow Statement
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$24.8M-1672.4% | -$1.4M+89.2% | -$13.0M+39.4% | -$21.4M-39.9% | -$15.3M+21.1% | -$19.4M+15.5% | -$23.0M-11.0% | -$20.7M |
| Capital Expenditures | $10.0M+8.8% | $9.2M+121.2% | $4.1M+82.7% | $2.3M+13.3% | $2.0M+232.0% | $603K-60.0% | $1.5M-37.1% | $2.4M |
| Free Cash Flow | -$34.8M-229.3% | -$10.6M+38.3% | -$17.1M+27.7% | -$23.7M-36.8% | -$17.3M+13.5% | -$20.0M+18.2% | -$24.5M-6.0% | -$23.1M |
| Investing Cash Flow | -$9.9M-5.7% | -$9.4M-559.0% | -$1.4M+7.2% | -$1.5M-19.5% | -$1.3M+75.5% | -$5.2M-225.8% | $4.2M+285.4% | -$2.2M |
| Financing Cash Flow | $298K-83.7% | $1.8M-42.9% | $3.2M-82.2% | $17.9M+394.7% | $3.6M+98.4% | $1.8M+224.1% | -$1.5M-433.3% | $442K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TWST Financial Ratios
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.0%-1.4pp | 53.4%+3.8pp | 49.6%+1.3pp | 48.3%+5.0pp | 43.3%+2.3pp | 41.0%+0.5pp | 40.5%+6.2pp | 34.4% |
| Operating Margin | -31.7%-0.4pp | -31.4%+13.4pp | -44.8%-5.7pp | -39.1%+70.1pp | -109.1%-44.2pp | -64.9%+0.8pp | -65.7%+29.7pp | -95.4% |
| Net Margin | -29.4%-50.6pp | 21.2%+63.6pp | -42.4%-6.8pp | -35.6%+69.4pp | -105.0%-44.6pp | -60.4%-0.3pp | -60.2%+29.9pp | -90.0% |
| Return on Equity | N/A | 4.3% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -4.8%-8.0pp | 3.2%+9.8pp | -6.6%-1.4pp | -5.2%+8.2pp | -13.4%-6.9pp | -6.5%-0.6pp | -5.9%+1.2pp | -7.1% |
| Current Ratio | 3.78-0.1 | 3.90-0.6 | 4.51-0.4 | 4.96+0.1 | 4.88-0.6 | 5.51-0.5 | 5.98+0.2 | 5.79 |
| Debt-to-Equity | 0.40+0.1 | 0.350.0 | 0.35+0.0 | 0.33+0.0 | 0.30+0.0 | 0.25+0.0 | 0.240.0 | 0.25 |
| FCF Margin | -33.6%-22.6pp | -11.0%+7.5pp | -18.5%+8.3pp | -26.7%-17.7pp | -9.0%+17.6pp | -26.6%+7.6pp | -34.2%+9.6pp | -43.8% |
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Frequently Asked Questions
What is Twist Bioscience's annual revenue?
Twist Bioscience (TWST) reported $376.6M in total revenue for fiscal year 2025. This represents a 20.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Twist Bioscience's revenue growing?
Twist Bioscience (TWST) revenue grew by 20.3% year-over-year, from $313.0M to $376.6M in fiscal year 2025.
Is Twist Bioscience profitable?
No, Twist Bioscience (TWST) reported a net income of -$77.7M in fiscal year 2025, with a net profit margin of -20.6%.
What is Twist Bioscience's earnings per share (EPS)?
Twist Bioscience (TWST) reported diluted earnings per share of $-1.30 for fiscal year 2025. This represents a 63.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Twist Bioscience's EBITDA?
Twist Bioscience (TWST) had EBITDA of -$111.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Twist Bioscience's gross margin?
Twist Bioscience (TWST) had a gross margin of 50.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Twist Bioscience's operating margin?
Twist Bioscience (TWST) had an operating margin of -36.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Twist Bioscience's net profit margin?
Twist Bioscience (TWST) had a net profit margin of -20.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Twist Bioscience's free cash flow?
Twist Bioscience (TWST) generated -$75.6M in free cash flow during fiscal year 2025. This represents a -9.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Twist Bioscience's operating cash flow?
Twist Bioscience (TWST) generated -$47.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Twist Bioscience's total assets?
Twist Bioscience (TWST) had $641.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Twist Bioscience's capital expenditures?
Twist Bioscience (TWST) invested $28.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Twist Bioscience spend on research and development?
Twist Bioscience (TWST) invested $80.3M in research and development during fiscal year 2025.
How many shares does Twist Bioscience have outstanding?
Twist Bioscience (TWST) had 61M shares outstanding as of fiscal year 2025.
What is Twist Bioscience's current ratio?
Twist Bioscience (TWST) had a current ratio of 3.64 as of fiscal year 2025, which is generally considered healthy.
What is Twist Bioscience's debt-to-equity ratio?
Twist Bioscience (TWST) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Twist Bioscience's return on assets (ROA)?
Twist Bioscience (TWST) had a return on assets of -12.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Twist Bioscience's cash runway?
Based on fiscal year 2025 data, Twist Bioscience (TWST) had $183.0M in cash against an annual operating cash burn of $47.6M. This gives an estimated cash runway of approximately 46 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Twist Bioscience's Piotroski F-Score?
Twist Bioscience (TWST) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Twist Bioscience's earnings high quality?
Twist Bioscience (TWST) has an earnings quality ratio of 0.61x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Twist Bioscience?
Twist Bioscience (TWST) scores 57 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.