The Twist Bioscience Corporation (NASDAQ: TWST) shares exhibited an upward trajectory on the recent trading day. The stock of Twist Bioscience concluded the weekend session with a notable surge of 25.90%, reaching a valuation of $24.01. This positive momentum in TWST stock closely followed the release of the company’s financial results.
On Friday, Twist Bioscience (TWST) disclosed its financial performance and key business accomplishments for the fourth quarter and the entire fiscal year 2023, concluding on September 30, 2023. Fiscal 2023 marked a pivotal period for Twist Bioscience, characterized by a 20% year-over-year revenue growth, particularly driven by robust performances in Next-Generation Sequencing (NGS) and synthetic biology (synbio).
During this timeframe, TWST strategically realigned its cost structure, expediting the path to profitability, and executed a well-defined strategy for pivotal products, laying the groundwork for both immediate and long-term success. Total orders for fiscal 2023 at Twist Bioscience surged to $264 million, a notable increase from the $226.4 million recorded in fiscal 2022.
Furthermore, TWST’s total revenues jumped from $203.6 million in fiscal 2022 to $245.1 million in fiscal 2023. As a result, for fiscal 2023, Twist Bioscience improved its net loss attributable to common stockholders. It reported net losses of $204.6 million, or $3.60 per share for fiscal 2023, compared to that of $217.9 million, or $4.04 per share a year ago.
In a recent development, TWST introduced Twist Express Genes, a cutting-edge gene synthesis service characterized by a remarkable order-to-shipping turnaround time of five to seven business days. This innovative service represents Twist Bioscience’s initial offering enabled by enhanced capacity and streamlined processes in its Wilsonville facility.
The company can now provide NGS-verified clonally perfect genes, a hallmark of its offerings, in approximately half the usual time, and at an unprecedented scale. TWST’s new offering caters to the diverse needs of customers, delivering rapid turnaround for one or thousands of genes in various formats. Initially, Twist Bioscience will prioritize existing customers who are actively engaged in creating their own genes.
