Q2 2024 Twist Bioscience Corp Earnings Call Transcript
Key Points
- Revenue for the second quarter increased to $75.3 million, a growth of 25% year-over-year.
- Orders for the quarter reached a record level of over $93 million, indicating strong demand for Twist Bioscience Corp's products.
- Gross margin improved significantly to 41%, up from 31% in the same quarter the previous year.
- Introduced new products like the cell-free DNA library prep, enhancing the company's competitive edge in liquid biopsy research.
- Expansion into regulated markets with CE-marked products in Europe, preparing for future regulatory changes in the U.S.
- Net loss for the quarter was $45.5 million, indicating ongoing challenges in achieving profitability.
- Biopharma revenue guidance was reduced, reflecting slower growth in this segment compared to others.
- Dependence on a few large customers, as the top 10 NGS customers accounted for approximately 36% of NGS revenue.
- Operational expenses increased to $124.2 million from $121.8 million in the same period last year, driven by higher costs in several areas including stock-based compensation.
- The company is still in the process of ramping up new business development hires, which may delay expected revenue growth from the biopharma segment.
Welcome to o Twist Bioscience's fiscal 2024 Second Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question and answer session to ask the question. During the session, you will need to press star one one on your telephone. You will then hear automated message. Advising your hand is raised to draw your question, please press star one again. Please be advised that today's conference is being recorded. I would now like to turn the conference over to Angela Bitting, SVP of Corporate Affairs. Please go ahead.
Thank you, operator. Good afternoon, everyone. I would like to thank all of you for joining us today for Twist Biosciences conference call to review our fiscal 2024 second quarter financial results and business progress. We issued our financial results release after the market and the release is available at our website at www
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
