Twist Bioscience Corporation (NASDAQ: TWST) has reported its fiscal second quarter 2025 financial results, showcasing several significant improvements over the same period in the previous year.
The company achieved record revenue of $92.8 million in the second quarter of fiscal year 2025, representing a notable increase of 23% compared to the $75.3 million reported in the second quarter of fiscal year 2024. This marks the company's 9th consecutive quarter of sequential growth.
Additionally, Twist Bioscience reported a substantial improvement in gross margin, reaching 49.6% in the second quarter of fiscal 2025, as opposed to 41.0% in the same period of fiscal 2024, reflecting an 8.6 margin percentage point increase.
Looking ahead, the company expects revenue in the range of $372 million to $379 million for the full year fiscal 2025, and anticipates a gross margin of over 50% for the fourth quarter of fiscal year 2025.
Furthermore, Twist Bioscience announced the spin-out of its DNA storage application as an independent company, Atlas Data Storage, with a significant $155 million investment from various strategic partners and investors. The company also stated its expectation to achieve adjusted EBITDA breakeven on an accelerated timeline by the end of fiscal 2026.
In terms of financial performance, the company's total revenue for the second quarter of fiscal 2025 grew to $92.8 million, with significant growth in its SynBio, NGS, and Biopharma segments, which increased by 21%, 25%, and 21% respectively compared to the same period in fiscal 2024.
Cost of revenues for the second quarter of fiscal 2025 was $46.8 million, up from $44.4 million in the same period of fiscal 2024, while gross margin for the same period showed a substantial improvement, reaching 49.6% compared to 41.0% in the second quarter of fiscal 2024.
The company's net loss attributable to common stockholders for the second quarter of fiscal 2025 was $39.3 million, or $0.66 per share, compared to $45.5 million, or $0.79 per share, for the same period of fiscal 2024. Moreover, adjusted EBITDA for the second quarter of fiscal 2025 improved to $(14.8) million compared to $(26.8) million for the same period of fiscal 2024.
As of March 31, 2025, Twist Bioscience Corporation had $257.1 million in cash, cash equivalents, and short-term investments.
In addition to its financial performance, Twist Bioscience achieved several operational milestones, including the shipment of products to approximately 2,431 customers in the second quarter of fiscal 2025, an increase from approximately 2,253 customers in the second quarter of fiscal 2024. The company also shipped approximately 227,000 genes during the second quarter of fiscal 2025, compared to approximately 193,000 genes during the second quarter of fiscal 2024.
The company's collaboration with Curio Genomics to accelerate the adoption of NGS workflows in agrigenomics and the expanded launch of the Twist High Throughput Unique Dual Index Adapter System were additional highlights during the period.
Based on its current expectations for fiscal 2025, including the third quarter, the company has provided updated financial guidance, with forward-looking statements indicating potential material differences based on market conditions and various factors. As a result of these announcements, the company's shares have moved -7.4% on the market, and are now trading at a price of $36.35. For the full picture, make sure to review Twist Bioscience's 8-K report.
