Why Twist Bioscience (TWST) Stock Is Plunging Today - Twist Bioscience (NASDAQ:TWST)

Shares of Twist Bioscience Corp TWST fell after the firm issued fiscal second-quarter revenue guidance that fell below the consensus Wall Street estimate.
For Q1 FY23, Twist posted a 29% increase in sales to $54.2 million, almost in line with the consensus of $54.1 million.
The company shipped approximately 134,000 genes during the quarter to 2,060 customers, compared to about 1,800 customers during the year-ago quarter.
For Q1, the company reported an EPS loss of $(0.74), down from $(0.91) a year ago compared to the consensus of $(1.13).
Guidance: Twist Bioscience expects fiscal Q2 revenues of $56.5 million, below the consensus of $61.9 million, with $24 million in synbio revenues, $25 million in next-generation sequencing revenues, and biopharma revenues of $7.5 million.
It anticipates full-year fiscal 2023 revenue of $261 million to $269 million, which remains unchanged.
Price Action: TWST shares are down 16.6% at $25.77 on the last check Friday.

Why Twist Bioscience Stock Is Plunging Today