Business
Twist Bioscience Reports Third Quarter Fiscal 2020 Financial Results
– Strong Third Quarter Fiscal 2020 Revenues of $21.2M; Increase of 56% over Third Quarter Fiscal 2019 – SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- Twist
About this update from Twist Bioscience Corporation
[{"type":"text","content":"\n– Strong Third Quarter Fiscal 2020 Revenues of $21.2M; Increase of 56% over Third Quarter Fiscal 2019 –\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 2020, ended June 30, 2020.\n\n\n“We posted a strong quarter of revenue growth for both synthetic biology and next generation sequencing (NGS) along with solid orders and a robust pipeline of opportunities across our silicon-based technology platform,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “Our disruptive platform combined with our unique business model continues to enable us to expand our footprint among our existing markets, extend our reach through biopharma partnerships and concurrently respond to pressing market needs including demand for COVID-19 related products.”\n\n\nFISCAL 2020 THIRD QUARTER FINANCIAL RESULTS\n\n\n\nOrders: Total orders received for the third quarter of fiscal 2020 were $24.7 million, compared to $18.1 million for the same period of fiscal 2019.\n\n\nRevenue: Total revenues were $21.2 million for the third quarter of fiscal 2020 compared to $13.6 million for the same period of fiscal 2019.\n\n\nCost of Revenues: Cost of revenues for the third quarter of fiscal 2020 was $16.5 million compared to $11.4 million for the same period of fiscal 2019.\n\n\nResearch and Development Expenses: Research and development expenses for the third quarter of fiscal 2020 were $10.4 million compared to $9.0 million for the same period of fiscal 2019.\n\n\nSelling, General and Administrative Expenses: Selling, general and administrative expenses for the third quarter of fiscal 2020 were $22.5 million compared to $21.3 million for the same period of fiscal 2019.\n\n\nNet Loss: Net loss for the third quarter of fiscal 2020 was $28.2 million, or $0.67 per share, compared to $27.9 million, or $0.92 per share, for the third quarter of fiscal 2019.\n\n\nCash Position: As of June 30, 2020, the company had $311.8 million in cash, cash equivalents and short term investments.\n\n\n\n\"During the fiscal third quarter of 2020, we delivered another quarter of sequential growth and we continued to prov...