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Twist Bioscience announced the granting of 87,200 restricted stock units to 26 new employees as inducement for joining the company. The RSUs vest over a 48-month period for each employee, with 25% vesting on the one year anniversary of employment and 1/16 vesting quarterly thereafter.
Twist Bioscience (NASDAQ: TWST) reported a record revenue of $75.3M in the second quarter of fiscal 2024, showing a 25% increase over the same period in fiscal 2023. Orders also grew by 45% to $93.2M. The company increased its revenue guidance for fiscal 2024 to a range of $300M to $304M and its gross margin guidance to 41.5% to 42.0%. Twist Bioscience continues to focus on profitability and aims to improve gross margin to over 50% by the end of fiscal 2025.
