Twist Bioscience Corporation · NASDAQ:TWST
Twist Bioscience — Q1 2026 Earnings Presentation
24 slides from Twist Bioscience's earnings presentation, Feb 2, 2026
Slide 1: Fiscal 2026 Q1 Financial Results
Fiscal 2026 Q1 Financial Results FE BRUARY 2026
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation contains forward-looking statements. All statements other than statements of historical facts contained herein are forward-looking statements the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Li
Slide 3: 12 Consecutive Quarters of Sequential Revenue Growth
12 Consecutive Quarters of Sequential Revenue Growth $ in Millions $103.7 $99.0 $96.1 NGS Applications $92.8 $88.7 $84.7 DNA Synthesis & $81.5 Protein Solutions $75.3 $71.5 $66.9 $63.7 $60.2 $56.1 $57.3 $54.2 $48.1 $42.0 $38.0 $35.0 $32.4 $31.2 $28.2 $21.2 $17.2 $19.3 Dec Mar Jun Sep Dec Mar Jun Sep
Slide 4: Key Metrics: Revenue, Gross Margin, Adj EBITDA
Key Metrics: Revenue, Gross Margin, Adj EBITDA Quarterly Revenue $ Millions $435 - $440 Annual Revenue $103.7 $ Millions $376.6 $313.0 51% >52% 52% GM GM GM $245.1 $203.6 $132.2 43% 41% GM $90.1 39% GM 37% GM GM 32% GM FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 Guidance FY26 Q1 Adjusted
Slide 5: Targeting Multiple Large, Growing Markets
Targeting Multiple Large, Growing Markets $3B+ SAM** >$90B NGS applications TAM Growth Drivers: • Customer test volumes $1.3B • New customer growth • Existing customers advancing to $700M $500M commercialization $300M $300M • Microarray conversion to Twist plus sequencing Oncology Rare and Microarra
Slide 6: Twist AI Accelerates Discovery
Twist AI Accelerates Discovery Build Rapid, Iterative Test and Scalable • Oligo synthesis (1 day) 2-4 Week Cycle* • Expressability • Clonal gene production (4-5 days) • Developability 5-10 • Protein expression (5-8 days) • Functionality days • Affinity • Cross reactivity Start Characterized Antibody
Slide 7: Biological Continuum
We move Biological Continuum up the customer value chain End-to-end discovery services Antibody characterization (data) IgG antibody proteins DNA prep (micro to maxi prep) Clonal genes Gene pools Gene fragments Oligos A Common Pattern Across Markets THERAPEUTICS INDUSTRIAL & ACADEMIC & APPLIED GOVER
Slide 8: AI Opened New Doors for Growth
AI Opened New Doors for Growth AI Amplifies the Value of Our Technology Traditional AI & Tech Therapeutics Companies Companies We sell products & data $25M of $66M We sell data FY2025 order growth was (Wet lab model) (Dry lab model) for AI drug discovery We are the market leader DNA on Silicon platf
Slide 9: Targeting Multiple Large, Growing Markets
Targeting Multiple Large, Growing Markets $4B+ SAM* $18B DNA Synthesis & Protein Solutions TAM Growth Drivers: $2B • AI enabled therapeutics $1.5B discovery • Large pharma $0.7B • Dry lab companies • Big tech companies • Traditional therapeutics discovery DNA Antibody Protein • Increasing market sha
Slide 10: Diverse Solutions, Many Applications
Diverse Solutions, Many Applications DNA Synthesis NGS Applications* & Protein Solutions Powering the Design-Build-Test-Learn Enabling Efficient and Effective Customized, Scalable Cycle for Early-stage Biotech through Solutions for Cancer, Inherited and Big Pharma, Academic Research Rare Disease Dia
Slide 11: On Path to Adj EBITDA Breakeven
On Path to Adj EBITDA Breakeven $103.7M 52% Gross $(13.4)M Adj. Revenue Margin EBITDA* Beat Guidance of ~ 4 margin point On path to $100-101M improvement YoY breakeven Cash, Cash Equivalents and Short-term Investments as of 12/31/25 $198 million *See adjusted EBITDA reconciliation on page 23. PROPRI
Slide 12: DNA Synthesis & Protein Solutions
DNA Synthesis & Protein Solutions 1Q FY26 Products • $51.1 million in revenue • Growth of 27% YoY • Clonal genes • Physically shipped approximately 271,000 genes • Express genes • Additional >50,000 genes manufactured for data characterization • Gene fragments* • Launched research-grade plasmid prep
Slide 13: NGS Applications
NGS Applications 1Q FY26 Products • Fixed panels • $52.6 million in revenue • Custom panels • Excluding one large customer, 18% growth YoY • Alliance panels • Library prep kits • Reagents • Controls and standards Next Up Services ✓ FlexPrep library prep • MRD Express ✓ Element Trinity Freestyle on-
Slide 14: Revenue by Geography
Revenue by Geography $ in Millions Americas EMEA APAC Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec FY2018 0 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 PROPRIETARY | TWIST BIOSCIENCE | 14
Slide 15: 1QFY26 Industry Revenue Reporting
1QFY26 Industry Revenue Reporting +39% ~flat ~flat +11% +50% Industry Reporting Academic and Industry and Global supply Therapeutics Diagnostics Government applied partners $37.2M $35.3M $12.2M $6.1M % change vs. $12.8M 1QFY25 Discovery research Tools for NGS assays, Research Chemical and enzyme OEM
Slide 16: Adjusted EBITDA Progress Toward Break-even
Adjusted EBITDA Progress Toward Break-even $ Millions $103.7 $96.1 $99.0 $92.8 $88.7 $84.7 $81.5 $75.3 $71.5 $66.9 $63.7 53.4% 52.0% GM 51.3% GM 49.6% GM 48.3% GM 45.1% GM 43.3% GM GM 41.0% 40.5% 36.6% GM GM 34.4% GM GM FY23Q3 FY23Q4 FY24Q1 FY24Q2 FY24Q3 FY24Q4 FY25Q1 FY25Q2 FY25Q3 FY25Q4 FY26Q1 Adj
Slide 17: Profitable Growth Is in Sight
Profitable growth is in sight Sustained revenue and margin growth Continued operational and commercial execution New products and AI offering Adjusted EBITDA Breakeven Investment in innovation driving top line acceleration Q4 FY 2026 Growing markets and customers PROPRIETARY | TWIST BIOSCIENCE | 17
Slide 18: FY2026 Guidance
Need to get final updates from Q4 earnings call FY2026 Guidance* Q2 FY2026 FY2026 REVENUE REVENUE $107 to $108M $435 to $440M GM >52% Adjusted EBITDA Breakeven Q4 FY2026** * Guidance provided as of February 2, 2026 **A reconciliation of adjusted EBITDA for the fourth quarter of fiscal 2026 to a corr
Slide 19: Compelling Upside
Compelling Upside Differentiated platform provides Durable revenue growth, diversified product, innovation >50% gross margin Growing market share, expanding Line of sight to adj EBITDA breakeven serviceable market opportunities Working with top companies, landing NPI powerhouse paired with and expan
Slide 20: Writing the Future
Writing the Future
Slide 21: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (In Thousands) FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY2025 GAAP Net Income (Loss) ($ 139,931) ($152,098) ($217,863) ($204,619) $(208,726) $(77,670) Add (Deduct) Adjustments: Interest income ( 1,499) (435) (3,062) (14,365) (15,344) (11,364) Interest expense 787 367 8
Slide 22: Adjusted R&D and SG&A Expenses Reconciliation
Adjusted R&D and SG&A Expenses Reconciliation (In Millions) FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 R&D Expenses — GAAP $43.0 $69.1 $120.3 $106.9 $90.9 $80.3 Adjusted to exclude: Depreciation and Amortization 3.0 3.2 3.5 4.0 3.0 1.3 Stock-based Compensation Expense 3.3 10.2 19.5 13.9 11.2 9.
Slide 23: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (In Thousands) Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 GAAP Net Income (Loss) $(57,395) $(46,243) $(43,008) $(45,492) (85,571) $(34,655) $(31,594) $(39,328) $20,390 $(27,138) $(30,507) Add (Deduct) Adjustments: Interest I
Slide 24: Adjusted R&D and SG&A Expenses Reconciliation
Adjusted R&D and SG&A Expenses Reconciliation (In Millions) Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 R&D Expenses — GAAP $24.5 $23.7 $23.1 $24.1 $22.5 $21.1 $21.3 $23.9 $18.0 $17.0 $17.1 Adjusted to exclude: Depreciation and 1.2 0.8 0.9 0.9 0.9 0.5 0.4