Business
Twist Bioscience Reports First Quarter Fiscal 2020 Financial Results
-- First Quarter Fiscal 2020 Revenues of $17.2M; Increase of 49% over First Quarter Fiscal 2019 – -- Reaches Settlement Agreement with Agilent in Litigation
About this update from Twist Bioscience Corporation
[{"type":"text","content":"\n-- First Quarter Fiscal 2020 Revenues of $17.2M; Increase of 49% over First Quarter Fiscal 2019 –\n\n\n-- Reaches Settlement Agreement with Agilent in Litigation --\n\n SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nTwist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today reported financial results and business highlights for the first quarter of fiscal 2020, ended December 31, 2019. In a separate press release issued today, the company announced a settlement agreement with Agilent Technologies in the litigation originally filed against Twist on February 3, 2016.\n\n\n“With the uncertainty of the litigation removed, we have a clear runway to leverage our increasing product line and growing revenue base to pursue the opportunities ahead,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist. “Fiscal 2020 is off to a strong start and we are encouraged by the robust increase in revenue across our core synthetic biology and NGS businesses. In addition, we look forward to diversification and growth in these businesses as we introduce new products to address specialty markets on the synbio side, and pursuing additional opportunities in oncology and SNP microarray markets in NGS.”\n\n\n“As for our business verticals, we recently achieved significant milestones in both biopharma and data storage, announcing a collaboration with Schrödinger, Inc. and a collaboration through IARPA and Georgia Tech Research Institute for a project to make long-term DNA data storage accessible and commercially viable. We are excited about these opportunities and look forward to announcing additional partnerships to validate our biopharma platform in 2020.”\n\n\nFISCAL 2020 FIRST QUARTER FINANCIAL RESULTS\n\n\n\nOrders: Total orders received for the first quarter of fiscal 2020 were $24.8 million, compared to $15.2 million for the same period of fiscal 2019.\n\n\nRevenue: Total revenues were $17.2 million for the first quarter of fiscal 2020 compared to $11.5 million for the same period of fiscal 2019.\n\n\nCost of Revenues: Cost of revenues for the first quarter of fiscal 2020 was $13.8 million compared to $11.9 million for the same period of fiscal 2019.\n\n\nResearch and Development Expenses: Research and development expenses for the f...