Twist Bioscience Stock Soars After Q3 Report - Here's Why

Twist Bioscience Corp TWST reported Q3 sales increased 14% Y/Y to $63.7 million, beating the consensus of $60.71 million.

The company reported a Q3 EPS loss of $(1.01), better than the consensus of $(1.14).

It shipped products to approximately 2,200 customers versus approximately 1,900 a year ago. The company shipped approximately 171,000 genes during the third quarter of fiscal 2023, compared with approximately 163,000 a year ago.

Guidance: Twist Bioscience expects FY23 revenue guidance of $241-$242 million, compared to the previous guidance of $235-$238 million and the consensus of $237.23 million.

• SynBio revenue is expected to be approximately $98 million, at the high end of the previous guidance of $96-$98 million.
• NGS revenue is expected to be approximately $120 million, compared to previous guidance of $113-$114 million.
• Biopharma revenue is estimated to be approximately $23-$24 million compared to previous guidance of $26 million.

Twist Bioscience exects Q4 FY23 revenue of $63-$64 million, compared to previous guidance of $62-$63 million and consensus of $62.25 million.

For FY24, the company expects to exit FY24 with adjusted EBITDA breakeven for its core (SynBio, NGS) business in Q4; fiscal year-end cash is projected to be $220 million.

Price Action: TWST shares are up 13.7% at $23.50 on the last check Friday.