Twist Bioscience Corp (NASDAQ:TWST) reported a 49.2% Y/Y increase in its Q1 FY22 revenues to $42.02 million, beating the Wall Street estimate of $38.33 million and the management expectation of $37 million - $39 million.
- The company shipped products to approximately 1,800 customers in Q1 FY22, versus about 1,500 a year ago.
- Twist Bioscience shipped approximately 125,000 genes during the quarter, compared with about 84,000 in Q1 FY21.
- The company received total orders of $49.6 million compared to $33.6 million a year ago.
- The company posted EPS loss of $(0.91) per share, beating the consensus of $(1.06) and wider than a loss of $(0.72) posted a year ago.
- Twist held $408.7 million in cash and equivalents as of December 31, 2021.
- FY22 Guidance: Twist Bioscience expects sales of $189 million - $198 million (consensus of $187.8 million), higher than prior guidance of $183 million - $193 million.
- The outlook includes SynBio revenue, including Ginkgo Bioworks, of $70 million - $72 million. NGS revenue is estimated to be $94 million - $96 million, and Biopharma revenue is expected to be approximately $25 million - $30 million
- The company expects an FY22 adjusted gross margin of 42% - 44%.
- Price Action: TWST shares traded lower by 1.53% at $60.04 on the last check Friday.
