The following is a summary of the Twist Bioscience Corporation (TWST) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Twist Bioscience Corporation reported Q2 2024 revenues of $75.3 million, a 25% year-over-year increase, with Q3 revenues reaching over $93 million.

• Gross margin for the quarter increased by 10 margin points year-over-year.

• SynBio and NGS revenues increased to $29.8 million and $40.8 million, respectively, showing a significant year-over-year growth.

• The company aims to achieve a gross margin of above 50% by the end of the fiscal year 2025.

• Twist Bioscience reported strong orders growth up 45%, with the gross margin showing improvement due to increased volume revenue and certain product growth.

Business Progress:

• Twist's Express Gene product line has seen over 1500 orders since its November launch.

• Revenue growth in NGS has come primarily from clients advancing their assets into clinical trials, and smaller NGS customers in earlier development stages.

• Over the next 18 months, Twist plans to focus on margin improvement initiatives, including product investment and sourcing and process optimization.

• Progress has been made on the Gigabyte Century Archive workflow slated for early access in 2025 within the data storage market.

• One partner is expected to initiate human studies with an antibody discovered through the Twist platform within the next year.

• Express Gene offering has been positively received and contributes to gross margin improvements.

• A strong product and service offering in biopharma is expected to drive growth for the company with anticipated revenue growth from the company's NGS tools business.

More details: Twist Bioscience IR

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