Twist Bioscience(TWST) - 2025 Q4 - Annual Results

Revenue Growth - Record revenue of $376.6 million in Fiscal 2025, an increase of 20% from $313.0 million in Fiscal 2024[1] - Q4FY25 revenue reached $99.0 million, up 17% from $84.7 million in Q4FY24, marking the 11th consecutive quarter of sequential growth[1] - SynBio revenue grew 17% to $145.0 million in FY25 compared to $123.5 million in FY24[3] - NGS revenue increased by 23% to $208.1 million in FY25 from $169.1 million in FY24[3] - Biopharma revenue rose 15% to $23.5 million in FY25 compared to $20.3 million in FY24[3] - For FY26, total revenue is expected to be between $425 million and $435 million, representing a growth of 13% to 15.5% year-over-year[10] - Revenues for the three months ended September 30, 2025, increased to $99,009,000, up 16.9% from $84,710,000 in 2024[22] Profitability and Margins - Gross margin improved to 50.7% in FY25, an increase of 8.1 percentage points from 42.6% in FY24[1] - Gross margin for FY26 is projected to be above 52%[10] - Adjusted EBITDA for FY25 was $(46.9) million, an improvement from $(93.5) million in FY24[5] - Adjusted EBITDA for the three months ended September 30, 2025, was $(7,848,000), an improvement from $(17,042,000) in 2024[26] Expenses and Losses - Net loss attributable to common stockholders for the three months ended September 30, 2025, was $27,138,000, compared to a loss of $34,655,000 in 2024, representing a 21.5% improvement[22] - Research and development expenses for the three months ended September 30, 2025, were $17,014,000, down 19.5% from $21,134,000 in 2024[22] - Selling, general and administrative expenses increased to $63,758,000 for the three months ended September 30, 2025, up 19.9% from $53,143,000 in 2024[22] Assets and Liabilities - Total current assets decreased to $332,966,000 as of September 30, 2025, from $346,776,000 in 2024, a decline of 4.0%[24] - Total liabilities increased to $168,903,000 as of September 30, 2025, compared to $141,634,000 in 2024, an increase of 19.2%[24] - Cash and cash equivalents decreased to $183,049,000 as of September 30, 2025, down from $226,316,000 in 2024, a decrease of 19.1%[24] Other Financial Highlights - The company shipped approximately 938,000 genes in FY25, up from approximately 772,000 in FY24[9] - The company reported a gain on the sale of business amounting to $48,847,000 for the twelve months ended September 30, 2025[22] - The weighted average shares used in computing net loss per share attributable to common stockholders increased to 60,424,000 in 2025 from 58,554,000 in 2024[22]