Twist Bioscience Reports Second Quarter Fiscal 2021 Financial Results
Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today reported financial results and business highlights for the second quarter of fiscal 2021 ended March 31, 2021.
“The second quarter of our fiscal year delivered growth across all four areas of our business, with increasing revenue and very strong orders building momentum for the second half of the year,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “We signed new biopharma partnerships with multiple associated programs, and we continue to drive increasing density for our data storage vertical.
“For the second half of fiscal 2021 we expect continued growth of our NGS and synbio customer base as we build out the Factory of the Future in Oregon. We intend to advance all programs with our biopharma partners while simultaneously generating data to support out-licensing for our proprietary antibodies. In addition, for data storage, we will continue to pursue innovative engineering and collaborate across the DNA Data Storage Alliance to prepare the market for this novel storage medium.”
FISCAL 2021 SECOND QUARTER FINANCIAL RESULTS
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Orders: Total orders received for the second quarter of fiscal 2021 were
$41.7 million , compared to$24.6 million for the same period of fiscal 2020. -
Revenue: Total revenues were
$31.2 million for the second quarter of fiscal 2021 compared to$19.3 million for the same period of fiscal 2020. -
Cost of Revenues: Cost of revenues for the second quarter of fiscal 2021 was
$19.0 million compared to$13.6 million for the same period of fiscal 2020. -
Research and Development Expenses: Research and development expenses for the second quarter of fiscal 2021 were
$15.8 million compared to$10.6 million for the same period of fiscal 2020. -
Selling, General and Administrative Expenses: Selling, general and administrative expenses for the second quarter of fiscal 2021 were
$34.4 million compared to$27.2 million for the same period of fiscal 2020. -
Net Loss: Net loss for the second quarter of fiscal 2021 was
$37.9 million , or$0.78 per share, compared to$31.8 million , or$0.85 per share, for the second quarter of fiscal 2020. -
Cash Position: As of March 31, 2021, the company had
$555.7 million in cash, cash equivalents and short-term investments.
“We increased our margin to
Fiscal Second Quarter 2021 and Recent Highlights
- Shipped products to approximately 1,700 customers in the second quarter of fiscal 2021 versus approximately 1,400 in the same period of fiscal 2020.
- Exercised our right of first refusal which gives a cost-effective option to double manufacturing capacity at the “Factory of the Future” just outside of Portland, Oregon
- Launched the Twist NGS Methylation Detection System, a robust, end-to-end sample preparation and target enrichment solution for identifying methylated regions in the human genome. DNA methylation plays a key role in many biological processes including cancer.
- Received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA), together with Biotia, for the
