Twist Bioscience Corp. (NASDAQ:TWST) Q3 2021 Earnings Conference Call August 6, 2021 8:00 AM ET Company Participants Emily Leproust – CEO and Co-Founder Angela Bitting – SVP of Corporate Affairs Jim Thorburn – CFO Conference Call Participants Doug Schenkel – Cowen Matt Sykes – Goldman Sachs Catherine Schulte – Baird Vijay Kumar – Evercore ISI Matt Larew – William Blair (ph) Tycho Peterson – JP Morgan Operator Welcome to Twist Biosciences, Fiscal 2021, Third Quarter Financial results conference call. At this ...

Financial Data and Key Metrics Changes - Revenue for Q2 2021 was $31.2 million, representing a 62% increase year-over-year and an 11% sequential increase [9][37] - Orders totaled $41.7 million, a 69% increase year-over-year and a 24% sequential increase [10][37] - Gross margin for the quarter was 39%, up from 30% in the same quarter last year [38][51] Business Line Data and Key Metrics Changes - Synthetic Biology (synbio) revenue was $12.9 million, with orders exceeding $20 million for the quarter [10][41] - Next-Generation Sequencing (NGS) revenue reached $17 million, a 120% year-over-year increase [44] - Biopharma revenue was $1.3 million, reflecting only a portion of the upfront fees from partnerships [27][47] - Data Storage engineering progress was made towards achieving $100 per terabyte [32][93] Market Data and Key Metrics Changes - Americas revenue was $18.6 million, up from $12.1 million year-over-year [48] - EMEA revenue was $10 million, compared to $6.2 million in the same period last year [48] - APAC revenue increased to $2.7 million from $0.9 million, indicating a strong rebound in Asia [49] Company Strategy and Development Direction - The company is focusing on expanding its customer base and product mix in synthetic biology [11][12] - Plans to operationalize the "Factory of the Future" in Portland by 2022 to support growth [13][14] - The competitive landscape is being monitored, particularly regarding enzymatic synthesis technologies [15][16] Management's Comments on Operating Environment and Future Outlook - Management noted strong revenue growth and order trends across all business segments despite the ongoing pandemic [8][9] - The company is optimistic about continued growth in NGS and synbio, with expectations for further diversification of revenue streams [63] - There are concerns regarding supply chain headwinds, but these have been factored into the financial guidance [56][89] Other Important Information - The company has increased its fiscal year 2021 revenue guidance from $110 million to a range of $121 million to $129 million [57] - The gross margin guidance for the year has been raised to 36% to 38% [58] - The company ended the quarter with approximately $555 million in cash and short-term investments [38][55] Q&A Session Summary Question: Competitive landscape regarding distributed models for oligos and gene synthesis - Management indicated that the distributed model is currently not competitive due to quality differences, with their offerings being superior [68][69] Question: Increase in gross margin guidance - The increase is attributed to a higher share of NGS products and leveraging fixed costs [71] Question: Academic customer trends and geographic dynamics - Academic sector orders improved significantly, particularly in Asia and Europe, indicating a strong recovery [73][74] Question: Biopharma partnership expectations and development timelines - The biopharma funnel is strong, with ongoing partnerships and programs, although timelines are dependent on partners [79][103] Question: Academic market rebound and its impact on NGS - Academic orders increased by approximately 20%, which positions the company well for the second half of the year [81][82] Question: Supply headwinds and guidance - Supply chain issues are included in the guidance, and the company is actively working to resolve them [88][89] Question: Data storage milestones and cost metrics - The company is progressing towards its goal of $100 per terabit, having achieved significant engineering milestones [93][96]

l W ● BIOSCIENCE . Fiscal 2021 2Q Financial Results May 6, 2021 Agenda | --- | --- | --- | --- | --- | |---------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | Welcome | | | | | | | | | | | | Jim Thorburn Chief Financial Officer | | | | | | Quarterly Highlights | | | | | | Emily Leproust | | | | | | Chief Executive Officer | | | | | | Financial and Operational Performance | | | | | | Jim Thorburn | | | | | | Chief Financial Officer | | | | | | Pipeline & Milestones ...

[Forward-looking statements](index=3&type=section&id=Forward-looking%20statements) This section outlines future expectations for product development, market expansion, and financial performance, and related risks - Forward-looking statements relate to product development, DNA data storage, market penetration, international expansion, and identification of antibody candidates for COVID-19 treatment[9](index=9&type=chunk) - Key risks include the company's ability to increase revenue and growth rate, estimate capital requirements, increase DNA production, manage growth, enter new markets, protect intellectual property, and the effects of increased competition and catastrophic events like COVID-19[10](index=10&type=chunk) - The company undertakes no obligation to update any forward-looking statements, and actual results may differ materially from disclosed plans, intentions, or expectations[12](index=12&type=chunk) [PART I. Financial information](index=6&type=section&id=PART%20I.%20Financial%20information) This part presents comprehensive financial data, including statements, notes, management's analysis, market risks, and internal controls [Item 1. Financial statements](index=6&type=section&id=Item%201.%20Financial%20statements) This section provides the unaudited condensed consolidated financial statements, including the balance sheets, statements of operations and comprehensive loss, statements of stockholders' equity, and statements of cash flows, accompanied by detailed notes explaining significant accounting policies and specific financial components [Condensed Consolidated Balance Sheets (unaudited)](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20(unaudited)) This section presents the company's financial position, detailing assets, liabilities, and equity at specific points in time | (In thousands) | March 31, 2021 | September 30, 2020 | | :--- | :--- | :--- | | Cash and cash equivalents | $399,329 | $93,667 | | Short-term investments | $156,329 | $196,335 | | Total current assets | $607,999 | $334,870 | | Total assets | $677,289 | $398,882 | | Total current liabilities | $40,442 | $36,029 | | Total liabilities | $63,108 | $62,620 | | Total stockholders' equity | $614,181 | $336,262 | [Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss%20(unaudited)) This section details the company's revenues, expenses, and net loss over specific interim periods | (In thousands, except per share data) | Three months ended March 31, 2021 | Three months ended March 31, 2020 | Six months ended March 31, 2021 | Six months ended March 31, 2020 | | :--- | :--- | :--- | :--- | :--- | | Revenues | $31,204 | $19,297 | $59,364 | $36,461 | | Cost of revenues | $19,028 | $13,564 | $37,190 | $27,356 | | Research and development | $15,791 | $10,629 | $29,791 | $20,926 | | Selling, general and administrative | $34,389 | $27,190 | $63,181 | $53,595 | | Loss from operations | $(38,004) | $(32,086) | $(70,798) | $(87,916) | | Net loss attributable to common stockholders | $(37,919) | $(31,768) | $(70,819) | $(87,406) | | Net loss per share (basic and diluted) | $(0.78) | $(0.85) | $(1.50) | $(2.49) | [Condensed Consolidated Statements of Stockholders' Equity (Unaudited)](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity%20(Unaudited)) This section outlines changes in the company's equity components, including capital and accumulated deficit, over time | (In thousands) | Balances as of Dec 31, 2020 | Balances as of March 31, 2021 | | :--- | :--- | :--- | | Additional paid-in capital | $1,129,165 | $1,143,265 | | Accumulated deficit | $(491,355) | $(529,274) | | Total stockholders' equity | $637,952 | $614,181 | - Additional paid-in capital increased by **$14.1 million** from December 31, 2020, to March 31, 2021, primarily due to stock-based compensation and exercise of stock options[21](index=21&type=chunk) - Accumulated deficit increased by **$37.9 million** due to the net loss for the period[21](index=21&type=chunk) [Condensed Consolidated Statements of Cash Flows (unaudited)](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(unaudited)) This section presents the cash inflows and outflows from operating, investing, and financing activities | (in thousands) | Six months ended March 31, 2021 | Six months ended March 31, 2020 | | :--- | :--- | :--- | | Net cash used in operating activities | $(49,481) | $(93,585) | | Net cash provided by investing activities | $27,669 | $41,168 | | Net cash provided by financing activities | $328,372 | $190,094 | | Net increase in cash, cash equivalents, and restricted cash | $306,613 | $137,659 | | Cash, cash equivalents, and restricted cash at end of period | $400,859 | $185,057 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the condensed consolidated financial statements [1. The Company](index=13&type=section&id=1.%20The%20Company) This note describes the company's business, financial history, and management's assessment of its liquidity - Twist Bioscience Corporation, incorporated on February 4, 2013, is a synthetic biology and genomics company utilizing a disruptive DNA synthesis platform for various applications[25](index=25&type=chunk) - The company has incurred net losses and negative cash flows from operations since inception, with an accumulated deficit of **$529.3 million** as of March 31, 2021, and expects continued losses due to investments in product development, manufacturing, and sales/marketing[26](index=26&type=chunk) - Management believes existing cash balances combined with **$1,063.9 million** in net proceeds from equity issuances will fund operations for at least one year, but additional financing may be required[27](index=27&type=chunk) [2. Summary of significant accounting policies](index=13&type=section&id=2.%20Summary%20of%20significant%20accounting%20policies) This note outlines the key accounting principles and methods used in preparing the financial statements - The unaudited condensed consolidated financial statements are prepared in accordance with GAAP for interim financial information, with certain disclosures condensed or omitted, and should be read in conjunction with the audited annual consolidated financial statements in the Form 10-K[30](index=30&type=chunk) | (in thousands) | March 31, 2021 | September 30, 2020 | | :--- | :--- | :--- | | Cash and cash equivalents | $399,329 | $93,667 | | Restricted cash, non-current | $1,530 | $579 | | Total cash, cash equivalents and restricted cash | $400,859 | $94,246 | - The company adopted Topic 842 (Leases) on October 1, 2019, using a modified retrospective approach, which materially affected the balance sheets by recognizing operating lease right-of-use assets (**$35.8 million**) and corresponding lease liabilities (**$34.3 million**), but did not materially affect the statements of operations[37](index=37&type=chunk)[38](index=38&type=chunk) [3. Fair value measurement](index=18&type=section&id=3.%20Fair%20value%20measurement) This note details the methodologies and hierarchy used to determine the fair value of financial instruments - The company assesses the fair value of financial instruments based on ASC 820, utilizing a three-level hierarchy (Level 1: quoted prices in active markets, Level 2: observable inputs other than Level 1, Level 3: unobservable inputs) to maximize observable inputs[48](index=48&type=chunk)[49](index=49&type=chunk)[50](index=50&type=chunk)[51](index=51&type=chunk) | (in thousands) | March 31, 2021 Fair Value | September 30, 2020 Fair Value | | :--- | :--- | :--- | | Cash | $33,515 | $20,254 | | Money market funds | $365,814 | $73,413 | | Commercial paper | $74,958 | $94,840 | | U.S. government treasury bills | $81,371 | $101,495 | | Totals | $555,658 | $290,002 | [4. Balance sheet components](index=20&type=section&id=4.%20Balance%20sheet%20components) This note provides a breakdown of specific asset and liability

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38720 Twist Bioscience Corporation (Exact Name of Registrant as Specified in its Charter) Delaware 46-2058 ...

Twist Bioscience Corporation (NASDAQ:TWST) Q1 2021 Earnings Conference Call February 5, 2021 4:30 PM ET Company Participants Jim Thorburn - Chief Financial Officer Emily Leproust - CEO and Co-Founder Conference Call Participants Eleni Apostolatos - JP Morgan Doug Schenkel - Cowen Catherine Schulte - Baird Vijay Kumar - Evercore ISI Puneet Souda - SVB Leerink Operator Welcome to Twist Bioscience's Fiscal 2021 First Quarter Financial Results Conference Call [Operator Instructions]. Please be advised that toda ...

| W ● . ● BIOSCIENCE Fiscal 2021 1Q Financial Results February 4, 2021 Agenda | --- | --- | --- | --- | --- | |----------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | Welcome Jim Thorburn | | | | | | Chief Financial Officer | | | | | | Quarterly Highlights | | | | | | Emily Leproust Chief Executive Officer | | | | | | | | | | | | | | | | | | Financial and Operational Performance | | | | | | Jim Thorburn Chief Financial Officer | | | | | | | ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2020 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38720 Twist Bioscience Corporation (Exact Name of Registrant as Specified in its Charter) | Delaware | | 46-20588 ...

l - W ● BIOSCIENCE . Fiscal 2020 4Q and Year-End Financial Results November 23, 2020 Agenda | --- | --- | --- | --- | --- | |----------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | Welcome Jim Thorburn | | | | | | Chief Financial Officer | | | | | | Quarterly Highlights | | | | | | Emily Leproust Chief Executive Officer | | | | | | | | | | | | | | | | | | Financial and Operational Performance | | | | | | Jim Thorburn Chief Financial Officer ...

Twist Bioscience Corporation (NASDAQ:TWST) Q4 2020 Earnings Conference Call November 23, 2020 8:00 AM ET Company Participants Jim Thorburn - CFO Emily Leproust - CEO Conference Call Participants Tycho Peterson - JPMorgan Doug Schenkel - Cowen Catherine Schulte - Baird Vijay Kumar - Evercore ISI Puneet Souda - SVB Leerink Operator Welcome to Twist Bioscience's Fiscal 2020 Fourth Quarter and Full-Year Financial Results Conference Call. At this time, all participant lines are in a listen-only mode. After the s ...