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Twist Bioscience Reports Fourth Quarter 2021
Record Revenues in Fiscal 2021 of $132.3M; Increase of 47% over $90.1M in Fiscal 2020

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 fourth quarter and full-year fiscal 2021 ended September 30, 2021.

FISCAL 2021 FOURTH-QUARTER FINANCIAL RESULTS

Orders: Total orders received for the fourth quarter of fiscal 2021 were $45.2 million, compared to $42.7 million for the same period of fiscal 2020. The fourth quarter of fiscal 2020 included a single $9 million order.

Revenue: Total revenues were $38.0 million for the fourth quarter of fiscal 2021, compared to $32.4 million for the fourth quarter of fiscal 2020. The fourth quarter of fiscal 2020 included a single $9 million order that was shipped and recognized as revenue in the quarter.

Cost of Revenues: The cost of revenues for the fourth quarter of fiscal 2021 was $22.5 million compared to $17.6 million for the same period of fiscal 2020.

Research and Development Expenses: Research and development expenses for the fourth quarter of fiscal 2021 were $19.4 million compared to $11.6 million for the same period of fiscal 2020.

Selling, General, and Administrative Expenses: Selling, general and administrative expenses for the fourth quarter of fiscal 2021 were $38.2 million compared to $27.2 million for the same period of fiscal 2020.

Net Loss: Net loss for the fourth quarter of fiscal 2021 was $41.2 million, or $0.84 per share, compared to $24.3 million, or $0.54 per share, for the fourth quarter of fiscal 2020.

 

“We reported record revenue for both the quarter and the fiscal year, as well as a gross margin of more than 40% for the quarter and 39% for the year,” commented Jim Thorburn, CFO of Twist. “We expect fiscal 2022 to be a year of investment in the biopharma and data storage areas, as well as ramping up production at the Factory of the Future to set the stage for escalating growth moving forward.”

 

Financial Statement :

 

Twist Bioscience Corporation

Condensed Consolidated Statements of Operations

(Unaudited)

(in thousands)

Three months ended September 30,

Twelve months ended September 30,

2021

2020

2021

2020

Revenues

$

37,951

$

32,432

$

132,333

$

90,100

Operating expenses:

Cost of revenues

22,497

17,578

80,620

61,406

Research and development

19,443

11,636

69,072

43,006

Selling, general and administrative

38,243

27,185

135,901

103,267

Change in fair value of contingent consideration and indemnity holdback

(2,421)

(534)

Litigation settlement

22,500

Total operating expenses

$

77,762

$

56,399

$

285,059

$

230,179

Loss from operations

$

(39,811)

$

(23,967)

$

(152,726)

$

(140,079)

Interest income

58

112

435

1,499

Interest expense

(83)

(143)

(367)

(787)

Other income (expense), net

(1,064)

(57)

(1,370)

(182)

Benefit from (provision for) income taxes

(340)

(263)

1,930

(382)

Net loss attributable to common stockholders

$

(41,240)

$

(24,318)

$

(152,098)

$

(139,931)

Net loss per common share, basic and diluted

$

(0.84)

$

(0.54)

$

(3.15)

$

(3.57)

Weighted average shares used in computing net loss per share attributable to common stockholders—basic and diluted

49,350

44,778

48,251

39,190

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