Twist Bioscience(US:TWST)2025-02-03 21:09Revenue and Growth - Revenue increased by 24% to $88.7 million for the three months ended December 31, 2024, compared to $71.5 million for the same period in 2023[104] - The number of genes shipped increased by 20% to approximately 205,000 for the three months ended December 31, 2024, compared to approximately 171,000 in the same period of 2023[114] - Synthetic genes revenue grew by $6.8 million, while NGS tools revenue increased by $9.2 million, contributing to overall revenue growth[114] - The number of customers purchasing products increased to approximately 2,376 for the three months ended December 31, 2024, compared to 2,140 in the same period of 2023[113] Profitability and Loss - Gross margin improved to 48.3%, up from 40.5% in the previous year, primarily due to increased revenue and fixed costs being spread over a larger revenue base[104] - Net loss decreased to $31.6 million for the three months ended December 31, 2024, down from $43.0 million for the same period in 2023[103] - The net loss for the three months ended December 31, 2024, was $31.6 million, adjusted for non-cash items including depreciation and amortization of $6.4 million and stock-based compensation of $12.0 million[129] Expenses - Research and development expenses decreased by 8% to $21.3 million for the three months ended December 31, 2024, compared to $23.1 million in 2023[116] - Selling, general and administrative expenses rose by 6% to $56.2 million for the three months ended December 31, 2024, compared to $52.8 million in 2023[119] Cash Flow and Investments - Cash, cash equivalents, and short-term investments totaled $270.8 million as of December 31, 2024[103] - Net cash used in operating activities was $21.4 million for the three months ended December 31, 2024, compared to $23.0 million for the same period in 2023, reflecting a decrease of 7%[129][130] - Net cash used in investing activities was $1.5 million in Q4 2024, primarily due to purchases of laboratory property and equipment totaling $2.3 million[131] - In Q4 2023, net cash provided by investing activities was $4.2 million, driven by proceeds from investments totaling $5.7 million[132] - Net cash provided by financing activities was $17.9 million in Q4 2024, consisting of $15.0 million from the sale of future revenue and $3.0 million from stock option exercises[133] - In Q4 2023, net cash used in financing activities was $1.5 million, primarily due to $2.4 million in common stock repurchases[133] Other Financial Information - The company reported a net cash outflow from operating assets and liabilities of $8.2 million in Q4 2024, mainly due to an increase in accounts receivable of $4.5 million[129] - The company received an upfront payment of $15.0 million from XOMA (US) LLC for future potential milestone and royalty payments related to antibody discovery collaborations[124] - The company has no off-balance sheet arrangements[134] - Contractual obligations have not materially changed from those reported in the Annual Report on Form 10-K[135] - There were no changes to critical accounting policies and estimates during the three months ended December 31, 2024[138]