Twist Bioscience Reports Strong Fiscal Fourth Quarter Results

1 Mins read

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.

Related posts

Alaska Air Group Inc. to Acquire Hawaiian Airlines

1 Mins read
Alaska Air Group Inc. has recently announced its plan to acquire Hawaiian Airlines in a deal worth approximately $1.9 billion. The transaction…

The State of the U.S. Labor Market

2 Mins read
This week, all eyes will be on the U.S. labor market as the Federal Reserve’s December meeting approaches. The release of November…

Ceres Power Holdings Faces Revenue Setback

1 Mins read
Ceres Power Holdings, a leading fuel-cell technology company, experienced a sharp decline in its shares on Friday. The company announced that its…

Leave a Reply

Your email address will not be published. Required fields are marked *