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Twist Bioscience Reports Strong Fiscal Fourth Quarter Results

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Shares of Twist Bioscience surged by 25% following the company’s robust performance in the fiscal fourth quarter, surpassing analysts’ expectations. The San Francisco-based biotechnology firm also provided optimistic guidance for fiscal 2024, projecting a smaller loss and higher revenue.

Impressive Financial Outlook

Twist Bioscience anticipates a significant jump in revenue for fiscal 2024, with an estimated growth rate of 16% to 18%. The projected revenue range is set between $285 million and $290 million. While the company expects a decrease in the loss from operations before taxes, estimating a decline of 15% to 18%.

Fiscal Fourth Quarter Highlights

During the most recent quarter, Twist Bioscience reported a narrower loss compared to the same period last year. The loss stood at $46.2 million, or 81 cents per share, reduced from $51.1 million, or 91 cents per share, in the previous year. This positive outcome exceeded expectations as analysts predicted a loss of 92 cents per share.

Furthermore, the revenue for the fiscal fourth quarter amounted to $66.9 million, up from $57.3 million in the comparable quarter of the previous year. This revenue figure outperformed analyst projections of $63.4 million.

Twist Bioscience continues to exhibit strong performance and promising growth prospects, positioning itself as a leading player in the biotechnology industry.

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