\nTwist 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 fourth quarter and full year fiscal 2020 ended September 30, 2020.\n<\/p>\n
\n\u201cWe ended our fiscal year with record revenue and orders against the backdrop of a global pandemic and significant uncertainty,\u201d said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. \u201cWhile we are proud of the new products we introduced to aid in the fight against COVID-19, which complemented our revenue, it was our core synthetic biology and next-generation sequencing (NGS) product lines that drove our overarching success.\n<\/p>\n
\n\u201cWe have aggressive plans for growth and expansion in fiscal 2021 and beyond, continuing to build our foundation for sustained success across synthetic biology, NGS, biopharma and DNA data storage.\u201d\n<\/p>\n
FISCAL 2020 FINANCIAL RESULTS<\/b><\/p>\n FISCAL 2020 FOURTH QUARTER FINANCIAL RESULTS<\/b><\/p>\n \n“Over the last year, we delivered on revenue, orders, margin and product pipeline in a very challenging environment,\u201d commented Jim Thorburn, CFO of Twist. \u201cWe have a strong balance sheet and momentum moving into fiscal 2021, and look forward to an exciting year ahead.\u201d\n<\/p>\n Fiscal Fourth Quarter 2020 and Recent Highlights<\/b><\/p>\n Fiscal 2021 Financial Guidance<\/b><\/p>\n \nThe following statements are based on Twist\u2019s current expectations for fiscal 2021. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under \u201cForward-Looking Statements\u201d below. Twist does not plan to update, nor does it undertake any obligation to update, this outlook in the future.\n<\/p>\n \nFor the full fiscal year 2021, Twist provided the following financial guidance:\n<\/p>\n Fiscal 2021 First Quarter Financial Guidance<\/b><\/p>\n \nFor the first quarter of fiscal 2021, Twist provided the following financial guidance:\n<\/p>\n COVID-19 Considerations<\/b><\/p>\n \nDuring the three months ended September 30, 2020, financial results of the Company were not significantly affected by the COVID-19 outbreak. However, the extent to which the COVID-19 outbreak affects Twist\u2019s future financial results and operations is subject to a high degree of uncertainty and will depend on future developments, including the duration, spread and treatment of the outbreak domestically and abroad.\n<\/p>\n Conference Call Information <\/b><\/p>\n \nThe company plans to hold a conference call and live audio webcast for analysts and investors today at 8:00 a.m. Eastern Time to discuss its financial results and provide an update on the company\u2019s business. The call can be accessed by dialing (866) 688-0947 (domestic) or (409) 217-8781 (international) and refer to the conference ID 2947139. A telephonic replay of the conference call will be available beginning approximately four hours after the call through November 30, 2020 and may be accessed by dialing (855) 859-2056 (domestic) or (404) 537-3406 (international). The replay conference ID is 2947139. The webcast replay will be available for two weeks.\n<\/p>\n \nGiven the circumstances globally, it is recommended to dial-in at most 15 to 20 minutes prior to the call start to reduce waiting times. If a participant will be listen-only, they are encouraged to listen via the webcast on Twist\u2019s investor page.\n<\/p>\n About Twist Bioscience Corporation<\/b><\/p>\n \nTwist Bioscience is a leading and rapidly growing synthetic biology and genomics company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by \u201cwriting\u201d DNA on a silicon chip. Twist is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and development. Twist is also pursuing longer-term opportunities in digital data storage in DNA and biologics drug discovery. Twist makes products for use across many industries including healthcare, industrial chemicals, agriculture and academic research.\n<\/p>\n \nFollow us on Twitter<\/a> | Facebook<\/a> | LinkedIn<\/a> | YouTube<\/a><\/p>\n Investor Relations Information<\/b><\/p>\n \nTwist uses the investor relations section on its website as a means of complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor Twist’s investor relations website in addition to following Twist’s press releases, SEC filings, and public conference calls and webcasts.\n<\/p>\n Legal Notice Regarding Forward-Looking Statements<\/b><\/p>\n \nThis 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, statements under the headings \u201cFiscal 2021 Financial Guidance\u201d and \u201cFiscal 2021 First Quarter Financial Guidance,\u201d future growth and expansion plans and Twist\u2019s other expectations regarding its future financial performance, the impact of the COVID-19 pandemic on Twist\u2019s future financial performance, and Twist\u2019s ability to address the challenges posed by the business and economic impacts of COVID-19 pandemic, diversification and revenue growth across all product categories, introduction of new products, the use of our products by the healthcare sectors for the potential detection and treatment of diseases, and expectations regarding newly announced partnerships. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Twist\u2019s 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 risks and uncertainties of the duration, extent and impact of the COVID-19 pandemic, including any reductions in demand for our products (or deferred or canceled orders) globally or in certain regions; the ability to attract new customers and retain and grow sales from existing customers; risks and uncertainties of rapidly changing technologies and extensive competition in synthetic biology could make the products Twist is developing obsolete or non-competitive; uncertainties of the retention of significant customers; supply chain and other disruptions caused by the COVID-19 pandemic or otherwise; risks of third party claims alleging infringement of patents and proprietary rights or seeking to invalidate Twist\u2019s patents or proprietary rights; and the risk that Twist\u2019s proprietary rights may be insufficient to protect its technologies. For a further 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\u2019s business in general, see Twist\u2019s risk factors set forth in Twist\u2019s Annual Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on August 12, 2020 and subsequent filings with the SEC. Additional risk factors may be described in the \u201cRisk Factors\u201d section of Twist\u2019s Annual Report on Form 10-K to be filed with the SEC on or about November 25, 2020. In addition, many of the foregoing risks and uncertainties are, and could be, exacerbated by the COVID-19 pandemic and any worsening of global or regional business and economic environment as a result. We cannot at this time predict the extent of the impact of the COVID-19 pandemic and any resulting business or economic impact, but it could have a material adverse effect on our business, financial condition, results of operations and cash flows. Any forward-looking statements contained in this press release speak only as of the date hereof, and Twist Bioscience specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.\n<\/p>\n Twist Bioscience Corporation<\/b><\/p>\n<\/td>\n<\/tr>\n Condensed Consolidated Statements of Operations<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands, except per share data)<\/b><\/p>\n<\/td>\n<\/tr>\n Three months ended September 30,<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n Twelve months ended September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2019<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2019<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n32,432\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n15,736\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n90,100\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n54,385\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n17,578\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12,386\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n61,406\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n47,426\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n11,636\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,496\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n43,006\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n35,683\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n27,185\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n24,423\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n103,267\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n80,126\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n22,500\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n56,399\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n47,305\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n230,179\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n163,235\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(23,967\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(31,569\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(140,079\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(108,850\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n112\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n789\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,499\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,032\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(143\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(288\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(787\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(1,294\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n(57\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(2\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(182\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(265\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n(263\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(111\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(382\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(292\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n(24,318\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(31,181\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(139,931\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(107,669\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n(0.54\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(0.96\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(3.57\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(3.92\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n44,778\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n32,573\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n39,190\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n27,462\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n93,667\n<\/p>\n<\/td>\n \n46,735\n<\/p>\n<\/td>\n<\/tr>\n \n196,335\n<\/p>\n<\/td>\n \n91,372\n<\/p>\n<\/td>\n<\/tr>\n \n26,376\n<\/p>\n<\/td>\n \n12,104\n<\/p>\n<\/td>\n<\/tr>\n \n12,289\n<\/p>\n<\/td>\n \n7,330\n<\/p>\n<\/td>\n<\/tr>\n \n6,203\n<\/p>\n<\/td>\n \n2,594\n<\/p>\n<\/td>\n<\/tr>\n \n334,870\n<\/p>\n<\/td>\n \n160,135\n<\/p>\n<\/td>\n<\/tr>\n \n25,466\n<\/p>\n<\/td>\n \n20,835\n<\/p>\n<\/td>\n<\/tr>\n \n33,699\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n<\/tr>\n \n4,847\n<\/p>\n<\/td>\n \n6,024\n<\/p>\n<\/td>\n<\/tr>\n \n398,882\n<\/p>\n<\/td>\n \n186,994\n<\/p>\n<\/td>\n<\/tr>\n \n4,830\n<\/p>\n<\/td>\n \n9,760\n<\/p>\n<\/td>\n<\/tr>\n \n18,846\n<\/p>\n<\/td>\n \n16,444\n<\/p>\n<\/td>\n<\/tr>\n \n3,333\n<\/p>\n<\/td>\n \n3,333\n<\/p>\n<\/td>\n<\/tr>\n \n6,409\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n<\/tr>\n \n2,611\n<\/p>\n<\/td>\n \n817\n<\/p>\n<\/td>\n<\/tr>\n \n36,029\n<\/p>\n<\/td>\n \n30,354\n<\/p>\n<\/td>\n<\/tr>\n \n24,837\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n<\/tr>\n \n1,403\n<\/p>\n<\/td>\n \n4,400\n<\/p>\n<\/td>\n<\/tr>\n \n351\n<\/p>\n<\/td>\n \n158\n<\/p>\n<\/td>\n<\/tr>\n \n62,620\n<\/p>\n<\/td>\n \n34,912\n<\/p>\n<\/td>\n<\/tr>\n \n336,262\n<\/p>\n<\/td>\n \n152,082\n<\/p>\n<\/td>\n<\/tr>\n \n398,882\n<\/p>\n<\/td>\n \n186,994\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201123005560\/en\/<\/a><\/span><\/p>\n \nInvestor Contact: \nMedia Contact: KEYWORDS:<\/b> California United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Biotechnology Technology Health Pharmaceutical Other Science Other Technology Research Nanotechnology Genetics Science Clinical Trials<\/p>\n\n
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\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenues<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n Operating expenses:<\/td>\n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n Cost of revenues<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Research and development<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Selling, general and administrative<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Litigation settlement<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total operating expenses<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n Loss from operations<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n Interest income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Interest expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other income (expense), net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Provision for income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net loss attributable to common stockholders<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n Net loss per common share, basic and diluted<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n Weighted average shares used in computing net loss per share attributable to common stockholders\u2014basic and diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n Twist Bioscience Corporation<\/b><\/td>\n<\/tr>\n \n Condensed Consolidated Balance Sheets<\/b><\/td>\n<\/tr>\n \n (unaudited)<\/b><\/td>\n<\/tr>\n \n (in thousands)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n September 30, 2020<\/b><\/td>\n \n September 30, 2019<\/b><\/td>\n<\/tr>\n \n Assets<\/td>\n \n \n \n \n \n <\/tr>\n \n Cash and cash equivalents<\/td>\n \n $<\/td>\n \n \n $<\/td>\n \n \n Short-term investments<\/td>\n \n \n \n \n \n \n \n Accounts receivable, net<\/td>\n \n \n \n \n \n \n \n Inventories<\/td>\n \n \n \n \n \n \n \n Prepaid expenses and other current assets<\/td>\n \n \n \n \n \n \n \n Total current assets<\/td>\n \n \n \n \n \n \n \n Property and equipment, net<\/td>\n \n \n \n \n \n \n \n Operating lease right-of-use assets<\/td>\n \n \n \n \n \n \n \n Other non-current assets<\/td>\n \n \n \n \n \n \n \n Total assets<\/td>\n \n $<\/td>\n \n \n $<\/td>\n \n \n Current liabilities<\/td>\n \n \n \n \n \n <\/tr>\n \n Accounts payable<\/td>\n \n $<\/td>\n \n \n $<\/td>\n \n \n Accrued liabilities<\/td>\n \n \n \n \n \n \n \n Current portion of long-term debt<\/td>\n \n \n \n \n \n \n \n Current portion of operating lease liabilities<\/td>\n \n \n \n \n \n \n \n Other current liabilities<\/td>\n \n \n \n \n \n \n \n Total current liabilities<\/td>\n \n \n \n \n \n \n \n Operating lease liabilities, net of current portion<\/td>\n \n \n \n \n \n \n \n Long-term debt, net of current portion<\/td>\n \n \n \n \n \n \n \n Other non-current liabilities<\/td>\n \n \n \n \n \n \n \n Total liabilities<\/td>\n \n \n \n \n \n \n \n Total stockholders\u2019 equity (deficit)<\/td>\n \n $<\/td>\n \n \n $<\/td>\n \n \n Total liabilities and stockholders\u2019 equity<\/td>\n \n $<\/td>\n \n \n $<\/td>\n \n <\/p>\n
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Argot Partners
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Maeve Conneighton
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212-600-1902
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maeve@argotpartners.com<\/a><\/p>\n
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Angela Bitting
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925- 202-6211
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media@twistbioscience.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20201123005560\/en\/615603\/3\/Twist_Logo-04.jpg\"){kind=logo}
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