Twist Bioscience Reviews First Quarter 2022 Monetary Outcomes

— Report Revenues of $42M; Improve of 49% over $28.2M in Fiscal 2021 —

— Orders Elevated 48% to $49.6M —

— Elevated Income Steering for Fiscal 2022 —

SOUTH SAN FRANCISCO, Calif, February 04, 2022–(BUSINESS WIRE)–Twist Bioscience Company (NASDAQ: TWST), an organization enabling prospects to succeed by means of its providing of high-quality artificial DNA utilizing its silicon platform, at present reported monetary outcomes and enterprise highlights for the primary quarter of fiscal 2022 ended December 31, 2021.

“We’ve began the yr robust reporting document orders and income, with SynBio significantly strong within the first quarter of fiscal 2022,” stated Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “We proceed to introduce new merchandise to allow thrilling purposes like liquid biopsy and minimal residual illness, increasing our buyer base and our market alternatives in NGS.”

“Our biopharma crew added 8 new companions and 21 new packages with the combination of Abveris bringing an extra 72 ongoing packages, whereas advancing our inner candidates. We count on the primary Twist Biopharma-discovered antibody to be in medical trials this yr. As well as, we introduced that our first DNA knowledge storage answer can be a Century Archive, storing knowledge for 100 years,” continued Dr. Leproust.

FISCAL 2022 FIRST QUARTER FINANCIAL RESULTS

  • Orders: Whole orders obtained for the primary quarter of fiscal 2022 have been $49.6 million in comparison with $33.6 million for a similar interval of fiscal 2021.

  • Income: Whole revenues for the primary quarter of fiscal 2022 have been $42.0 million in comparison with $28.2 million for the primary quarter of fiscal 2021.

  • Value of Revenues: Value of revenues for the primary quarter of fiscal 2022 was $27.1 million in comparison with $18.2 million for a similar interval of fiscal 2021.

  • Analysis and Growth Bills: Analysis and improvement bills for the primary quarter of fiscal 2022 have been $22.6 million in comparison with $14 million for a similar interval of fiscal 2021.

  • Promoting, Basic and Administrative Bills: Promoting, normal and administrative bills for the primary quarter of fiscal 2022 have been $51.1 million in comparison with $28.8 million for a similar interval of fiscal 2021.

  • Web Loss: Web loss attributable to widespread stockholders for the primary quarter of fiscal 2022 was $45.6 million, or $0.91 per share, in comparison with $32.9 million, or $0.72 per share, for a similar interval of fiscal 2021.

  • Money Place: As of December 31, 2021, the corporate had $408.7 million in money, money equivalents and investments.

Latest Highlights:

SynBio and NGS

  • Shipped merchandise to roughly 1,800 prospects within the first quarter of fiscal 2022, versus roughly 1,500 within the first quarter of fiscal 2021.

  • Shipped roughly 125,000 genes in the course of the first quarter of fiscal 2022, in contrast with roughly 84,000 within the first quarter of fiscal 2021.

  • Previewed Twist Enzymatic Synthesis 3.0, a low-cost, scarless DNA synthesis course of

  • Launched the Twist Alliance Canine Exome, a complete exome goal enrichment panel to allow subsequent technology sequencing in canine genomic analysis.

  • Started transport artificial RNA constructive controls for the SARS-CoV-2 omicron (B.1.1.529/BA.1) variants first recognized in South Africa.

  • Launched the Twist 96-Plex Library Prep Package, a high-performance, cost-effective library preparation package for next-generation sequencing (NGS). This product is a Twistified model of a product acquired by means of the iGenomX acquisition in 2021.

  • Launched the Twist cfDNA Pan-cancer Reference Requirements, a high-quality standardized management to be used within the improvement and steady monitoring of liquid biopsy assessments able to detecting most cancers from blood samples.

BioPharma and DNA Information Storage

  • Introduced that RBT-0813, an modern bispecific antibody found by Twist Biopharma and licensed to Revelar Biotherapeutics, binds to and neutralizes the Omicron and Delta variants of SARS-CoV-2 in stay virus research.

  • Signed a strategic collaboration with Sosei Group Company to find therapeutic antibodies towards G protein-coupled receptors (GPCR) recognized by Sosei Heptares.

  • Signed an settlement with Artisan Growth Labs Inc. to find novel antibodies towards 5 undisclosed targets, with an choice to broaden with further targets.

  • Introduced a licensing settlement with Abcam below which Abcam will use a proprietary Twist VHH phage library for antibody discovery, improvement and commercialization for diagnostic and analysis purposes.

  • Introduced the Century Archive, which we count on to be Twist’s first industrial DNA knowledge storage answer.

Company

Up to date Fiscal 2022 Monetary Steering

The next statements are primarily based on Twist’s present expectations for fiscal 2022. The next statements are forward-looking, and precise outcomes may differ materially relying on market situations and the components set forth below “Ahead-Wanting Statements” beneath.

For the complete fiscal yr 2022, Twist supplied the next up to date monetary steerage:

  • Gross margin is anticipated to be between 35% and 37% for fiscal 2022 which displays the impression of prices related to ramping our Wilsonville “Manufacturing unit of the Future” facility comes on-line; excluding these prices, gross margin can be 42% to 44%

  • Working bills together with R&D and SG&A are anticipated to be $335 million for the yr

  • Web loss is anticipated to be roughly $260 million, reflecting the impression of the Abveris acquisition in stock-based compensation

    • R&D is anticipated to be roughly $130 million

    • Inventory-based compensation is anticipated to be roughly $74 million

    • Depreciation is anticipated to be $13 million

    • Capital expenditures are anticipated to be $80-$90 million, together with constructing out the “Manufacturing unit of the Future”

Convention Name Info

The corporate plans to carry a convention name and stay audio webcast for analysts and traders at 8:00 a.m. Japanese Time at present to debate its monetary outcomes and supply an replace on the corporate’s enterprise. The decision could be accessed by dialing (866) 688-0947 (home) or (409) 217-8781 (worldwide) and confer with the convention ID 3886933. A telephonic replay of the convention name might be obtainable starting roughly 4 hours after the decision by means of February 11, 2022 and could also be accessed by dialing (855) 859-2056 (home) or (404) 537-3406 (worldwide). The replay convention ID is 3886933. The webcast replay might be obtainable for 2 weeks. If a participant might be listen-only, they’re inspired to hear through the webcast on Twist’s investor web page.

About Twist Bioscience Company

Twist Bioscience is a number one and quickly rising artificial biology and genomics firm that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary know-how that pioneers a brand new technique of producing artificial DNA by “writing” DNA on a silicon chip. Twist is leveraging its distinctive know-how to fabricate a broad vary of artificial DNA-based merchandise, together with artificial genes, instruments for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and improvement. Twist can be pursuing longer-term alternatives in digital knowledge storage in DNA and biologics drug discovery. Twist makes merchandise to be used throughout many industries together with healthcare, industrial chemical compounds, agriculture and tutorial analysis.

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Authorized Discover Relating to Ahead-Wanting Statements

This press launch accommodates forward-looking statements. All statements apart from statements of historic information contained herein are forward-looking statements reflecting the present beliefs and expectations of administration made pursuant to the secure harbor provisions of the Personal Securities Litigation Reform Act of 1995, together with, however not restricted to, statements below the headings “Up to date Fiscal 2022 Monetary Steering” future development and growth plans and Twist’s different expectations concerning its future operations plans and monetary efficiency introduction of latest merchandise, and expectations concerning newly introduced partnerships. Such forward-looking statements contain identified and unknown dangers, uncertainties, and different vital components that will trigger Twist’s precise outcomes, efficiency, or achievements to be materially completely different from any future outcomes, efficiency, or achievements expressed or implied by the forward-looking statements. Such dangers and uncertainties embody, amongst others, the dangers and uncertainties of the length, extent and impression of the COVID-19 pandemic, together with any reductions in demand for our merchandise (or deferred or canceled orders) globally or in sure areas; the power to draw new prospects and retain and develop gross sales from present prospects; dangers and uncertainties of quickly altering applied sciences and intensive competitors in artificial biology that would make the merchandise Twist is creating out of date or non-competitive; uncertainties of the retention of serious prospects; the power of Twist to efficiently combine acquired corporations, together with Abveris, and to realize anticipated advantages from acquisitions; provide chain and different disruptions brought on by the COVID-19 pandemic or in any other case; dangers of third occasion claims alleging infringement of patents and proprietary rights or searching for to invalidate Twist’s patents or proprietary rights; and the danger that Twist’s proprietary rights could also be inadequate to guard its applied sciences. For an additional description of the dangers and uncertainties that would trigger precise outcomes to vary from these expressed in these forward-looking statements, in addition to dangers referring to Twist’s enterprise on the whole, see Twist’s threat components set forth in Twist’s Annual Report on Kind 10-Okay filed with the Securities and Change Fee (SEC) on November 23, 2021. As well as, most of the foregoing dangers and uncertainties are, and might be, exacerbated by the COVID-19 pandemic and any worsening of world or regional enterprise and financial atmosphere because of this. We can not presently predict the extent of the impression of the COVID-19 pandemic and any ensuing enterprise or financial impression, nevertheless it may have a fabric antagonistic impact on our enterprise, monetary situation, outcomes of operations and money flows. Any forward-looking statements contained on this press launch communicate solely as of the date hereof, and Twist Bioscience particularly disclaims any obligation to replace any forward-looking assertion, whether or not due to new data, future occasions or in any other case.

Twist Bioscience Company

Condensed Consolidated Statements of Operations

(Unaudited)

(in hundreds)

Three months ended December 31,

2021

2020

Revenues

$

42,018

$

28,161

Working bills:

Value of revenues

27,056

18,162

Analysis and improvement

22,630

14,000

Promoting, normal and administrative

51,098

28,792

Change in honest worth of contingent consideration and indemnity holdback

(2,826

)

Whole working bills

$

97,958

$

60,954

Loss from operations

$

(55,940

)

$

(32,793

)

Curiosity earnings

154

134

Curiosity expense

(26

)

(118

)

Different earnings (expense), internet

(156

)

(77

)

Provision for earnings taxes

10,405

(46

)

Web loss attributable to widespread stockholders

$

(45,563

)

$

(32,900

)

Web loss per widespread share, fundamental and diluted

$

(0.91

)

$

(0.72

)

Weighted common shares utilized in computing internet loss per share attributable to widespread stockholders—fundamental and diluted

49,912

46,000

Twist Bioscience Company

Condensed Consolidated Steadiness Sheets

(unaudited)

(in hundreds)

December 31, 2021

September 30, 2021

Property

Money and money equivalents

$

191,624

$

465,829

Quick-term investments

110,235

12,034

Accounts receivable, internet

32,872

28,549

Inventories

40,239

31,800

Pay as you go bills and different present belongings

10,037

8,283

Whole present belongings

385,007

546,495

Property and gear, internet

65,135

44,122

Lengthy-term funding

106,843

Working lease right-of-use belongings

72,020

61,580

Goodwill

84,244

22,434

Intangible belongings, internet

63,921

18,262

Restricted money, non-current

1,572

1,530

Different non-current belongings

7,425

7,674

Whole belongings

$

786,167

$

702,097

Present liabilities

Accounts payable

$

23,073

$

14,900

Accrued liabilities

11,686

6,437

Accrued compensation

18,735

22,327

Present portion of working lease liabilities

12,684

8,213

Present portion of long-term debt

1,552

Different present liabilities

13,856

9,623

Whole present liabilities

80,034

63,052

Working lease liabilities, internet of present portion

60,285

53,156

Different non-current liabilities

19,670

5,068

Whole liabilities

159,989

121,276

Whole stockholders’ fairness

$

626,178

$

580,821

Whole liabilities and stockholders’ fairness

$

786,167

$

702,097

View supply model on businesswire.com: https://www.businesswire.com/information/residence/20220204005102/en/

Contacts

Angela Bitting
925- 202-6211
[email protected]

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