Business
Twist Bioscience Reports Fiscal Third Quarter 2023 Financial Results
-- Record revenue of $63.7M in 3QFY23; Increase of 14% over $56.1M in Fiscal 2022 -- -- Orders increased 7% in 3QFY23 over fiscal 2022 to $63.8M -- SOUTH SAN
About this update from Twist Bioscience Corporation
[{"type":"text","content":"\n-- Record revenue of $63.7M in 3QFY23; Increase of 14% over $56.1M in Fiscal 2022 --\n\n\n-- Orders increased 7% in 3QFY23 over fiscal 2022 to $63.8M --\n\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 third quarter of fiscal 2023 ended June 30, 2023.\n\n\n\"We reported record revenue again this quarter, with our core business, comprised of SynBio and NGS, delivering very strong results,\" said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. \"Significantly, our Wilsonville site manufactured and shipped the vast majority of our genes, gene fragments and oligo pools, with the new team performing well. We continued to expand our NGS portfolio with the launch of our RNA sequencing portfolio targeting the substantial research market.\"\n\n\nDr. Leproust continued, \"As we look forward, we expect continued growth in the core business, driven by taking market share, an increasing customer base and expanding product portfolio. For Biopharma Solutions, we will continue to focus on hiring the right commercial leaders, serving our customers, and closing new deals both with existing and new partners while keeping a keen eye on evaluating, analyzing and managing this business to ensure value creation in the short, medium and long term. In data storage, we remain on track to demonstrate an end-to-end gigabyte Century Archive workflow by the end of calendar 2023.\"\n\n\nFISCAL 2023 THIRD QUARTER FINANCIAL RESULTS\n\n\n\nOrders: Total orders received for the third quarter of fiscal 2023 were $63.8 million compared to $59.7 million for the same period of fiscal 2022.\n\n\n\nRevenue: Total revenues for the third quarter of fiscal 2023 were $63.7 million compared to $56.1 million for the same period of fiscal 2022.\n\n\n\nCost of Revenues: Cost of revenues for the third quarter of fiscal 2023 was $41.8 million compared to $31.0 million for the same period of fiscal 2022.\n\n\n\nResearch and Development Expenses: Research and development expenses for the third quarter of fiscal 2023 were $24.5 million compared to $36.8 million for the same period of fiscal 2022.\n\n\n\nSelling, General and Administ...