Twist Bioscience FY2026 net loss widens to $130M
Fiscal 2027 guidance calls for $550 million to $560 million in revenue, positive adjusted EBITDA and approximately $75 million in capital expenditures.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Twist Bioscience Corp. reported fiscal 2026 revenue of $459.4 million, up 22% from $376.6 million in fiscal 2025. Fourth-quarter revenue was $126.6 million, up 28% year over year. Fiscal-year gross margin rose to 52.4% from 50.7%; fourth-quarter gross margin was 53.1%, compared with 51.3% a year earlier.
Fiscal 2026 net loss was $130.2 million, compared with $77.7 million in fiscal 2025, while adjusted EBITDA loss narrowed to $35.9 million from $46.9 million. In the fourth quarter, adjusted EBITDA was positive $2.2 million versus a $7.8 million loss a year earlier, and net loss was $20.6 million versus $27.1 million. Cash, cash equivalents and short-term investments totaled approximately $582 million as of September 30, 2026.
For fiscal 2027, Twist expects revenue of approximately $550 million to $560 million, gross margin of approximately 52.5% to 53%, positive adjusted EBITDA, and approximately $75 million in capital expenditures, excluding landlord-funded tenant improvements. First-quarter revenue guidance is approximately $130 million to $132 million. The company also reported approximately $425 million in net proceeds from an equity offering and at-the-market sales.
3 points · 0 major0 major · 1 point
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointFiscal 2026 revenue grew 22% to $459.4 million.
- Moderate pointFourth-quarter adjusted EBITDA was $2.2 million, versus a $7.8 million loss.
- Minor pointFourth-quarter revenue grew 28% to $126.6 million.
Negative
- Moderate pointFiscal 2026 net loss was $130.2 million, compared with $77.7 million in fiscal 2025.
Filing Explained
The positive adjusted EBITDA outlook has no forward-looking GAAP reconciliation, and Twist says stock-based compensation could significantly affect GAAP results.
Twist's fiscal 2027 revenue guidance is a forecast, not a completed result, and assumes
The company says it cannot reconcile its positive adjusted EBITDA guidance to a corresponding GAAP measure without unreasonable effort. It also says stock-based compensation could significantly affect future GAAP results.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Fiscal 2026 revenue: $459.4 million
Fourth-quarter fiscal 2026 revenue: $126.6 million
Fiscal 2026 gross margin: 52.4%
+5 more
8 metrics
Fiscal 2026 revenue
$459.4 million
Fiscal year ended September 30, 2026; $376.6 million in fiscal 2025
Fourth-quarter fiscal 2026 revenue
$126.6 million
Compared with $99.0 million in the same period of fiscal 2025
Fiscal 2026 gross margin
52.4%
Compared with 50.7% in fiscal 2025
Fiscal 2026 net loss
$130.2 million
Compared with $77.7 million in fiscal 2025
Fourth-quarter fiscal 2026 adjusted EBITDA
$2.2 million
Compared with $(7.8) million in the same period of fiscal 2025
Cash, cash equivalents and short-term investments
Approximately $582 million
As of September 30, 2026
Fiscal 2027 revenue guidance
Approximately $550 million to $560 million
Approximately 21% year-over-year growth at the midpoint
Fiscal 2027 capital expenditures
Approximately $75 million
Excludes landlord-funded tenant improvements
Key Terms
Adjusted EBITDA, non-GAAP financial measure, Gross Margin, DNA Synthesis and Protein Solutions, +1 more
5 terms
Adjusted EBITDA financial
"Adjusted EBITDA for fiscal 2026 was $(35.9) million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
non-GAAP financial measure financial
"Adjusted EBITDA, which is a non-GAAP financial measure"
A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.
Gross Margin financial
"Gross margin for fiscal 2026 increased to 52.4%"
Gross margin is the difference between how much money a company makes from selling its products and how much it costs to produce them, expressed as a percentage of sales. It shows how efficiently a company is turning sales into profit before other expenses like marketing or salaries. Higher gross margin means the company keeps more money from each sale, which is a good sign of financial health.
DNA Synthesis and Protein Solutions technical
"DNA Synthesis and Protein Solutions (DSPS) revenue grew 31.7%"
NGS Applications technical
"NGS Applications (NGS) revenue grew 14.1%"
Earnings Snapshot
Fiscal 2026 revenue: $459.4 million · Guidance included
Fiscal 2026 and fourth quarter ended September 30, 2026
Fiscal 2026 revenue
$459.4 million
Up 22% from fiscal 2025
Fourth-quarter fiscal 2026 revenue
$126.6 million
Up 28% from the same period of fiscal 2025
Fiscal 2026 net loss
$130.2 million
Compared with $77.7 million in fiscal 2025
Fourth-quarter fiscal 2026 adjusted EBITDA
$2.2 million
Compared with $(7.8) million in the same period of fiscal 2025
Guidance
Fiscal 2027 revenue of approximately $550 million to $560 million; gross margin of approximately 52.5% to 53%; positive adjusted EBITDA; and capital expenditures of approximately $75 million, excluding landlord-funded tenant improvements. First-quarter fiscal 2027 revenue is expected to be approximately $130 million to $132 million.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much revenue did TWST report for fiscal 2026?
Twist reported fiscal 2026 revenue of $459.4 million, compared with $376.6 million in fiscal 2025. Fourth-quarter fiscal 2026 revenue was $126.6 million, compared with $99.0 million in the year-earlier quarter.
What is TWST's fiscal 2027 revenue guidance?
Twist expects fiscal 2027 revenue of approximately $550 million to $560 million, representing approximately 21% year-over-year growth at the midpoint. First-quarter fiscal 2027 revenue is expected to be approximately $130 million to $132 million, with approximately 26% growth year over year at the midpoint.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I. R. S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices, including ZIP code)
(800 ) 719-0671
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02Results of Operations and Financial Condition.
On November 12, 2026, Twist Bioscience Corporation (the “Company”) issued a press release announcing its financial results for the quarter and fiscal year ended September 30, 2026. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
| Exhibit No. | Description | |||||||
| 99.1 | Press release dated November 12, 2026 titled “Twist Bioscience Reports Fiscal Fourth Quarter and Full Year Fiscal 2026 Financial Results” | |||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 12, 2026 | Twist Bioscience Corporation | ||||
| /s/ Dennis Cho | |||||
| Dennis Cho | |||||
| Chief Legal Officer and Corporate Secretary | |||||
Exhibit 99.1
Twist Bioscience Reports Fiscal Fourth Quarter and Full Year Fiscal 2026 Financial Results
— Record revenue of $459.4 million in Fiscal 2026; Increase of 22% over $376.6 million in Fiscal 2025 —
— Record revenue of $126.6 million in 4QFY26; Increase of approximately 28% over $99.0 million in 4QFY25; 15th consecutive quarter of sequential growth —
— Gross margin of 52.4% in fiscal 2026, Improvement of 1.7 margin points versus 50.7% in fiscal 2025 —
— Fiscal 2027 revenue guidance of $550M-$560M, growth of 21% year over year at the midpoint —
— First quarter fiscal 2027 revenue guidance of $130M to $132M, growth of 26% year over year at the midpoint —
SOUTH SAN FRANCISCO, Calif. -- (November 12, 2026) — Twist Bioscience Corporation (NASDAQ: TWST), a mid-cap growth and value healthcare company, today reported financial results and business highlights for the fourth quarter and full year fiscal 2026 ended September 30, 2026.
“Fiscal 2026 demonstrated what Twist can deliver: strong top line revenue growth, expanded gross margin and positive adjusted EBITDA in the fourth quarter, all while continuing to broaden our capabilities and strengthen our balance sheet," said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “We enter fiscal 2027 with a stronger business and the capital to invest in our next phase of growth. AI is expanding what scientists can design, and personalized medicine is increasing the demand for unique molecules. Both play directly to our strength of customization at scale. We are building the infrastructure for where this industry is going, investing in capacity, automation and new products that enable customers to do more with Twist. Our ambition is to make Twist indispensable to the next generation of discovery, diagnostics and therapeutics.”
See "Non-GAAP Information" below and the associated reconciliation table included in this release for a discussion of the measure adjusted EBITDA.
FISCAL 2026 FINANCIAL RESULTS
•Revenue: Total revenues for fiscal 2026 grew to $459.4 million compared to $376.6 million for fiscal 2025.
◦DNA Synthesis and Protein Solutions (DSPS) revenue grew 31.7% to $221.9 million for fiscal 2026 compared to $168.5 million for fiscal 2025.
◦NGS Applications (NGS) revenue grew 14.1% to $237.5 million for fiscal 2026 compared to $208.1 million for fiscal 2025.
•Cost of Revenues: Cost of revenues for fiscal 2026 was $218.6 million compared to $185.6 million for fiscal 2025.
•Gross Margin: Gross margin for fiscal 2026 increased to 52.4% compared to 50.7% for fiscal 2025.
•Research and Development Expenses: Research and development expenses for fiscal 2026 decreased to $71.8 million compared to $80.3 million for fiscal 2025.
•Selling, General and Administrative Expenses: Selling, general and administrative expenses for fiscal 2026 were $301.2 million compared to $247.0 million for fiscal 2025.
•Net Loss: Net loss for fiscal 2026 was $130.2 million, or $2.08 per diluted share, compared to net loss of $77.7 million, or $1.30 per diluted share, for fiscal 2025.
•Adjusted EBITDA: Adjusted EBITDA for fiscal 2026 was $(35.9) million compared to $(46.9) million in fiscal 2025. See the table included in this release for a reconciliation between adjusted EBITDA and net (loss) income attributable to common stockholders, the most directly comparable GAAP financial measure.
•Cash Position: As of September 30, 2026, the company had approximately $582 million in cash, cash equivalents and short-term investments.
FISCAL 2026 FOURTH QUARTER FINANCIAL RESULTS
•Revenue: Total revenues for the fourth quarter of fiscal 2026 grew 28% to $126.6 million compared to $99.0 million for the same period of fiscal 2025.
◦DNA Synthesis and Protein Solutions (DSPS) revenue grew 33% to $61.0 million for the fourth quarter of fiscal 2026 compared to $46.0 million for the same period of fiscal 2025, and grew 8% sequentially, compared to $56.6 million for the third quarter of fiscal 2026.
◦NGS Applications (NGS) revenue grew 24% to $65.7 million for the fourth quarter of fiscal 2026 compared to $53.0 million for the same period of fiscal 2025, and grew 6% sequentially, compared to $61.8 million for the third quarter of fiscal 2026.
•Cost of Revenues: Cost of revenues for the fourth quarter of fiscal 2026 increased to $59.4 million compared to $48.2 million for the same period of fiscal 2025.
•Gross Margin: Gross margin for the fourth quarter of fiscal 2026 was 53.1%, up from 51.3% for the same period of fiscal 2025.
•Research and Development Expenses: Research and development expenses for the fourth quarter of fiscal 2026 were $17.0 million consistent with $17.0 million for the same period of fiscal 2025.
•Selling, General and Administrative Expenses: Selling, general and administrative expenses for the fourth quarter of fiscal 2026 were $74.7 million compared to $63.8 million for the same period of fiscal 2025.
•Net Loss: Net loss for the fourth quarter of fiscal 2026 decreased to $20.6 million, or $0.32 per diluted share, compared to net loss of $27.1 million, or $0.45 per diluted share, for the same period of fiscal 2025.
•Adjusted EBITDA: Adjusted EBITDA for the fourth quarter of fiscal 2026 was $2.2 million compared to $(7.8) million for the same period of fiscal 2025. See the table included in this release for a reconciliation between adjusted EBITDA and net (loss) income attributable to common stockholders, the most directly comparable GAAP financial measure.
Recent Highlights:
•Shipped products to approximately 4,100 customers in fiscal 2026, versus approximately 3,800 in fiscal 2025.
•Physically shipped approximately 1.3 million genes in fiscal 2026, compared with approximately 938,000 in fiscal 2025.
•Raised net proceeds of approximately $425 million through an equity offering and at-the-market sales.
•Joined Lilly TuneLab as a provider of antibody characterization services.
•Expanded antibody production and characterization portfolio with the launch of Twist Express Screening Antibodies.
•Launched Twist MRD Express, custom panels designed for a rapid turnaround time of as little as one day.
Fiscal 2027 Financial Guidance
The following statements are based on Twist’s current expectations for fiscal 2027. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under “Forward-Looking Statements” below.
For the full fiscal year 2027, Twist expects:
•Total revenue in the range of approximately $550 million to $560 million, growth of approximately 21% year over year at the midpoint.
◦Initial full year revenue guidance assumes $100 million in revenue for AI drug discovery and sequential growth across both DNA Synthesis and Protein Solutions and NGS Applications
•Gross margin of approximately 52.5% to 53%.
•Adjusted EBITDA positive
•Capital expenditures of approximately $75 million as part of our two-year investment plan, excluding landlord-funded tenant improvements
For the first quarter of fiscal 2027, Twist expects:
•Total revenue of approximately $130 million to $132 million, growth of approximately 26% year over year at the midpoint and continued sequential growth
Non-GAAP Information
This release includes adjusted EBITDA, which is a non-GAAP financial measure, for the periods presented. Adjusted EBITDA is defined as net (loss) income adjusted to exclude interest income, income tax expense, depreciation and amortization, litigation settlement costs, net of recoveries, gain on sale of business, other income/expense, net, and stock-based compensation expense. This non-GAAP measure is not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles (GAAP) and may be different from non-GAAP measures used by other companies. In addition, this non-GAAP measure is not based on any comprehensive set of accounting rules or principles. We believe that this non-GAAP financial measure, when considered together with our financial information prepared in accordance with GAAP, can enhance investors’ and analysts’ ability to meaningfully compare our results from period to period and to our forward-looking guidance, and to identify operating trends in our business. However, non-GAAP information is not superior to financial measures calculated in accordance with GAAP, is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. A reconciliation table of the most comparable GAAP financial measure to the non-GAAP financial measure is included at the end of this press release.
A reconciliation of adjusted EBITDA for the full year fiscal 2027 to a corresponding GAAP financial guidance measure is not available on a forward-looking basis because the Company does not provide guidance on GAAP net (loss) income and is not able to present the various reconciling cash and non-cash items between GAAP net (loss) income and adjusted EBITDA without unreasonable effort. In particular, stock-based compensation expense is impacted by the Company’s future hiring and retention needs, as well as the future fair market value of its common stock, all of which is difficult to predict and is subject to change. The actual amount of these expenses during the full year fiscal 2027 will have a significant impact on Twist’s future GAAP financial results.
Conference Call Information
The company plans to hold a conference call and live audio webcast for analysts and investors at 8:00 a.m. Eastern Time today to discuss its financial results and provide an update on the company’s business. The conference call will be webcast live through the Investor Relations section under the “Company” tab at www.twistbioscience.com. Those parties interested in participating via telephone must register on the Company’s Investor Relations website or by clicking here. Upon registration, all telephone participants will receive the dial-in number along
with a unique PIN number that can be used to access the call. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. The webcast replay will be available for two weeks.
About Twist Bioscience
At Twist Bioscience, our customizable solutions across the biological continuum raise the bar in diagnostics, therapeutics, industrial, agriculture and research markets.
We drive innovation with confidence, without compromise. Whether delivering oligos, genes, proteins, libraries, characterization data, antibody discovery solutions, or NGS workflow tools, our scientific expertise and exceptional customer experience help navigate complex challenges, all with precision and at the scale and speed customers require. By enhancing R&D efficiency at every turn, we give scientists more shots on goal – more experiments, more iterations, more chances for remarkable discoveries.
Together, we stand with customers in the relentless pursuit of progress, backed by enterprise reliability, to shape a healthier and more sustainable future for all. For more information about our products and services, please visit www.twistbioscience.com.
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Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts contained herein are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, projections under the heading “Fiscal 2027 Financial Guidance” and the assumptions underlying that guidance, statements regarding future growth and expansion in future fiscal periods, including fiscal 2027, long-term financial targets and objectives, including statements regarding our revenue growth trajectory, drivers of future revenue and gross margin growth, including expected growth of AI-enabled discovery, nucleic acid therapeutics and molecular residual disease applications planned capital expenditures, expected manufacturing capacity, planned expansion of protein expression and characterization capacity, estimated annual revenues, ability and timing to achieve profitability, ability to maintain adjusted EBITDA breakeven and ability to maintain or increase gross margins and Twist’s other expectations regarding its future operations plans and financial performance, introduction of new products, and newly announced partnerships. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Twist’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the
ability to attract new customers and retain and grow sales from existing customers; the ability to sustain demand from customers pursuing AI-enabled drug discover and the risk that such demand may not continue at current rates; the ability to expand manufacturing capacity; the ability of Twist to achieve sufficient revenue to achieve or maintain positive cash flow from operations or profitability in any given period; risks and uncertainties of rapidly changing technologies and extensive competition in the life sciences industry that could make the products and services Twist is developing obsolete or non-competitive; the ability to integrate and leverage artificial intelligence and machine learning technologies to improve operational efficiency, product development, and customer solutions; dependence on one supplier for a critical component; dependence on key personnel; additional regulations that could increase Twist’s costs and delay commercialization efforts; changes in U.S. trade policies and other trade actions that could result in increased costs and supply chain disruptions; the ability to maintain and enforce intellectual property protection; uncertainty as to economic and market conditions and the impact of adverse economic conditions; and the ability to obtain financing when necessary. For a description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Twist’s business in general, see Twist’s risk factors set forth in Twist’s Annual Report on Form 10-K expected to be filed with the Securities and Exchange Commission on November 16, 2026. Any forward-looking statements contained in this press release speak only as of the date hereof, and Twist specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
For Investors:
Angela Bitting
SVP, Corporate Affairs
925-202-6211
abitting@twistbioscience.com
For Media:
Amanda Houlihan
Communications Manager
774-265-5334
ahoulihan@twistbioscience.com
Twist Bioscience Corporation
Condensed Consolidated Statements of Operations
(Unaudited)
(in thousands)
| Three months ended September 30, | Twelve months ended September 30, | |||||||||||||||||||||||||
| (In thousands, except per share data) | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||
Revenues | $ | 126,644 | $ | 99,009 | $ | 459,433 | $ | 376,572 | ||||||||||||||||||
| Costs and expenses: | ||||||||||||||||||||||||||
| Cost of revenues | $ | 59,391 | $ | 48,172 | $ | 218,632 | $ | 185,570 | ||||||||||||||||||
| Research and development expenses | 16,986 | 17,014 | 71,836 | 80,285 | ||||||||||||||||||||||
| Selling, general and administrative expenses | 74,679 | 63,758 | 301,215 | 246,976 | ||||||||||||||||||||||
| Litigation settlement costs, net of recoveries | — | — | 7,205 | — | ||||||||||||||||||||||
| Total costs and expenses | $ | 151,056 | $ | 128,944 | $ | 598,888 | $ | 512,831 | ||||||||||||||||||
| Loss from operations | $ | (24,412) | $ | (29,935) | $ | (139,455) | $ | (136,259) | ||||||||||||||||||
| Gain on sale of business | $ | — | $ | — | $ | — | $ | 48,847 | ||||||||||||||||||
| Interest income | 3,418 | 2,633 | 8,803 | 11,364 | ||||||||||||||||||||||
| Other income (expense), net | 170 | 420 | 856 | (903) | ||||||||||||||||||||||
| Income tax expense | 201 | (256) | (406) | (719) | ||||||||||||||||||||||
| Net loss | $ | (20,623) | $ | (27,138) | $ | (130,202) | $ | (77,670) | ||||||||||||||||||
| Net (loss) income per share — basic | $ | (0.32) | $ | (0.45) | $ | (2.08) | $ | (1.30) | ||||||||||||||||||
| Weighted average shares used in computing net (loss) income per share — basic | 65,253 | 60,424 | 62,615 | 59,808 | ||||||||||||||||||||||
| Net (loss) income per share — diluted | $ | (0.32) | $ | (0.45) | $ | (2.08) | $ | (1.30) | ||||||||||||||||||
| Weighted average shares used in computing net (loss) income per share —diluted | 65,253 | 60,424 | 62,615 | 59,808 | ||||||||||||||||||||||
Twist Bioscience Corporation
Condensed Consolidated Balance Sheets
(Unaudited)
(in thousands)
| (In thousands) | September 30, 2026 | September 30, 2025 | ||||||||||||
| Assets | ||||||||||||||
| Current assets: | ||||||||||||||
| Cash and cash equivalents | $ | 533,992 | $ | 183,049 | ||||||||||
| Short-term investments | 47,915 | 49,385 | ||||||||||||
| Accounts receivable, net | 70,194 | 57,019 | ||||||||||||
| Inventories | 46,411 | 28,309 | ||||||||||||
| Prepaid expenses and other current assets | 38,712 | 15,204 | ||||||||||||
| Total current assets | $ | 737,224 | $ | 332,966 | ||||||||||
| Property and equipment, net | 122,323 | 102,283 | ||||||||||||
| Operating lease right-of-use assets | 69,277 | 49,377 | ||||||||||||
| Investment in equity securities | 68,087 | 54,337 | ||||||||||||
| Other non-current assets | 124,897 | 102,898 | ||||||||||||
| Total assets | $ | 1,121,808 | $ | 641,861 | ||||||||||
| Liabilities and stockholders’ equity | ||||||||||||||
| Current liabilities: | ||||||||||||||
| Accounts payable | $ | 24,850 | $ | 11,094 | ||||||||||
| Accrued compensation | 38,318 | 31,288 | ||||||||||||
| Current portion of operating lease liability | 8,448 | 13,822 | ||||||||||||
| Accrued expenses and other current liabilities | 54,194 | 35,202 | ||||||||||||
| Total current liabilities | $ | 125,810 | $ | 91,406 | ||||||||||
| Operating lease liability, net of current portion | 86,537 | 61,750 | ||||||||||||
| Liability related to the sale of future revenue | 15,000 | 15,000 | ||||||||||||
| Other non-current liabilities | 6,445 | 747 | ||||||||||||
| Total liabilities | $ | 233,792 | $ | 168,903 | ||||||||||
| Total stockholders’ equity | $ | 888,016 | $ | 472,958 | ||||||||||
| Total liabilities and stockholders’ equity | $ | 1,121,808 | $ | 641,861 | ||||||||||
Twist Bioscience Corporation
Adjusted EBITDA
(Unaudited)
(in thousands)
The following table sets forth a reconciliation between our Adjusted EBITDA and net loss, the most directly comparable GAAP financial measure, for each of the periods presented:
| Three months ended September 30, | Twelve months ended September 30, | |||||||||||||||||||||||||
| (In thousands) | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||
| Net loss | $ | (20,623) | $ | (27,138) | $ | (130,202) | $ | (77,670) | ||||||||||||||||||
| Add (Deduct) adjustments: | ||||||||||||||||||||||||||
| Interest income | $ | (3,418) | $ | (2,633) | $ | (8,803) | $ | (11,364) | ||||||||||||||||||
| Income tax expense | (201) | 256 | 406 | 719 | ||||||||||||||||||||||
| Depreciation and amortization | 7,096 | 6,004 | 26,482 | 24,853 | ||||||||||||||||||||||
| EBITDA | $ | (17,146) | $ | (23,511) | $ | (112,117) | $ | (63,462) | ||||||||||||||||||
| Add (Deduct) adjustments: | ||||||||||||||||||||||||||
| Litigation settlement costs, net of recoveries | $ | — | $ | — | $ | 7,205 | $ | — | ||||||||||||||||||
| Gain on sale of business | — | — | — | (48,847) | ||||||||||||||||||||||
| Other (income) expense, net | (170) | (420) | (856) | 903 | ||||||||||||||||||||||
| Stock-based compensation expense | 19,471 | 16,083 | 69,856 | 64,459 | ||||||||||||||||||||||
| Adjusted EBITDA | $ | 2,155 | $ | (7,848) | $ | (35,912) | $ | (46,947) | ||||||||||||||||||