Twist Bioscience(TWST) - 2025 Q1 - Quarterly Results

Financial Performance - Record revenue of $88.7 million in Q1 FY25, an increase of 24% from $71.5 million in Q1 FY24[1] - Gross margin improved to 48.3% in Q1 FY25, up 7.8 percentage points from 40.5% in Q1 FY24[1] - Full year fiscal 2025 revenue guidance is projected to be between $372 million and $379 million, indicating a year-over-year growth of 19% to 21%[6] - SynBio revenue for FY25 is expected to be between $144 million and $147 million, reflecting a growth of 17% to 18%[6] - NGS revenue guidance for FY25 is projected at $205 million to $209 million, representing a growth of 21% to 24%[6] - Adjusted EBITDA for Q1 FY25 was $(16.3) million, an improvement from $(27.8) million in Q1 FY24[5] - Net loss for Q1 FY25 was $31.6 million, or $0.53 per share, compared to a net loss of $43.0 million, or $0.75 per share, in Q1 FY24[5] Customer and Product Metrics - The company shipped products to approximately 2,376 customers in Q1 FY25, up from 2,140 customers in Q1 FY24[5] - Approximately 205,000 genes were shipped in Q1 FY25, compared to 171,000 genes in Q1 FY24[5] Future Projections - The company expects to achieve a gross margin of over 50% by Q4 FY25[3] Year-over-Year Comparisons - For the three months ended December 31, 2024, GAAP net income was $(31,594) thousand, an improvement from $(43,008) thousand in the same period of 2023[22] - Adjusted EBITDA for the three months ended December 31, 2024, was $(16,271) thousand, compared to $(27,786) thousand in the same period of 2023, indicating a significant reduction in losses[22] - The overall EBITDA loss improved from $(38,837) thousand in 2023 to $(28,331) thousand in 2024, a reduction of approximately 27%[22] Expense Management - Depreciation and amortization expenses decreased from $8,171 thousand in 2023 to $6,382 thousand in 2024, reflecting a reduction of approximately 22%[22] - Stock-based compensation expense increased slightly from $11,020 thousand in 2023 to $11,991 thousand in 2024, representing an increase of about 8.8%[22] - Interest income decreased from $(4,120) thousand in 2023 to $(3,240) thousand in 2024, a decline of approximately 21.4%[22] - Interest expense increased from $1 thousand in 2023 to $24 thousand in 2024, showing a significant rise[22] - Income tax expense remained relatively stable, decreasing slightly from $120 thousand in 2023 to $97 thousand in 2024[22] - Other income/expense, net improved from $31 thousand in 2023 to $69 thousand in 2024, indicating a positive change[22] Strategic Focus - The company continues to focus on reducing net losses and improving financial performance through strategic adjustments in expenses and income[22]