Twist Bioscience(TWST) - 2025 Q2 - Quarterly Results

Revenue Growth - Record revenue of $92.8 million in Q2 FY25, a 23% increase from$ 75.3 million in Q2 FY24, marking the 9th consecutive quarter of sequential growth[1] - Full year fiscal 2025 revenue expected to be in the range of $372 million to$ 379 million, indicating a year-over-year growth of 19% to 21%[8] - SynBio revenue projected at $144 million to$ 147 million, a growth of 17% to 19% year-over-year[8] - NGS revenue expected to be $205 million to$ 209 million, reflecting a growth of 21% to 24% year-over-year[8] - Biopharma revenue anticipated at $23 million, representing a growth of 13% year-over-year[8] Profitability and Loss - Adjusted EBITDA for Q2 FY25 was$ (14.8) million, an improvement from $(26.8) million in Q2 FY24[4] - Net loss attributable to common stockholders for Q2 FY25 was$ 39.3 million, or $0.66 per share, compared to a net loss of$ 45.5 million, or $0.79 per share, in Q2 FY24[4] - GAAP net loss for the three months ended March 31, 2025, was$ 39,328,000, compared to a net loss of $45,492,000 for the same period in 2024, representing an improvement of about 13%[23] - Adjusted EBITDA for the six months ended March 31, 2025, was a loss of$ 31,102,000, compared to a loss of $54,547,000 for the same period in 2024, indicating a 43% improvement[23] Customer and Market Expansion - The company shipped products to approximately 2,431 customers in Q2 FY25, up from 2,253 customers in Q2 FY24[7] - Twist announced the spin-out of its DNA data storage application as Atlas Data Storage, with a$ 155 million investment from various strategic partners[1] Asset and Liability Management - Total current assets decreased from $346,776,000 in September 2024 to$ 338,442,000 in March 2025, a decline of approximately 2%[21] - Total liabilities increased from $141,634,000 in September 2024 to$ 155,507,000 in March 2025, an increase of approximately 10%[21] - Cash and cash equivalents decreased from $226,316,000 in September 2024 to$ 210,437,000 in March 2025, a decline of about 7%[21] - Accounts receivable, net increased significantly from $34,903,000 in September 2024 to$ 49,949,000 in March 2025, an increase of approximately 43%[21] - Total stockholders' equity decreased from $472,689,000 in September 2024 to$ 440,108,000 in March 2025, a decline of about 7%[21] Operating Expenses - Stock-based compensation expense for the three months ended March 31, 2025, was $20,328,000, compared to$ 13,824,000 for the same period in 2024, reflecting a 47% increase[23] - Operating lease liability, net of current portion decreased from $70,221,000 in September 2024 to$ 65,080,000 in March 2025, a reduction of approximately 7%[21] - Inventories decreased from $24,078,000 in September 2024 to$ 20,860,000 in March 2025, a decline of about 13%[21]