Slide 1: Fiscal 2025 2Q Financial Results
Fiscal 2025 2Q Financial Results MAY 2025
Slide 2: Agenda
Agenda Welcome Angela Bitting SVP, Corporate Affairs Quarterly Highlights Emily Leproust Chief Executive Officer Business Highlights Patrick Finn President and Chief Operating Officer Financial and Operational Performance Adam Laponis Chief Financial Officer Milestones Emily Leproust Chief Executive
Slide 3: Legal Disclaimers
Legal Disclaimers This presentation contains forward-looking statements. All statements other than statements of historical facts contained herein are forward- looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private
Slide 4: Permanent Atlas Data Storage
Atlas Data Storage Permanent Information Storage Medium Storing billions of terabytes of digital data in DNA molecules 4 | TWIST BIOSCIENCE | PROPRIETARY
Slide 5: Atlas Data Storage Launching with $155M Funding
Atlas Data Storage Launching with $155M Funding Industry Veterans Varun Mehta Bill Banyai George Kadifa CEO CTO Executive Chairman • Data storage expert with multiple successful • Built leading DNA writing and • Tech & data storage industry leader startups reading platforms • Co-founder & CEO of Nim
Slide 6: Financial Results
Financial Results
Slide 7: Highlights from the Quarter
Highlights from the Quarter $(14.8)M Adj $92.8M Revenue 49.6% Gross Margin EBITDA* Met guidance of Beat guidance Progressing on ~$91-93M of $(16)M path to >50%+ by 4QFY25 *Adjusted EBITDA is defined as net lo ss adjuste d to exclu de inte rest income, intere st exp ense, income ta x expense, d eprec
Slide 8: 2Q FY25 Next Up Innovative Products: SynBio Write
1 SynBio Write 2Q FY25 NEXT UP • $36.0 million in revenue ✓ Wilsonville, OR ✓ Enzyme engineering manufacturing launch • Growth of 21% YoY • RNA ✓ Express Genes • Shipped approximately 227,000 genes • GMP ✓ Additional Express products ✓ 500bp oligo synthesis INNOVATIVE PRODUCTS Clonal genes Oligo poo
Slide 9: 2Q FY25 Next Up Innovative Products: NGS Read
2 NGS Read 2Q FY25 NEXT UP ✓ RNA sequencing workflow ✓ SNP microarray • $51.1 million in revenue conversion (ongoing) ✓ Liquid biopsy (ongoing) • Growth of 25% YoY ✓ Enzyme-improved ✓ MRD growth (ongoing) • Collaboration to accelerate the adoption of NGS workflows (ongoing) workflows in agrigenomics
Slide 10: 2Q FY25 Next Up One-Stop-Shop Biopharma Solutions
3 Biopharma Solutions 2Q FY25 NEXT UP • $5.7 million in revenue ✓ Integrated offering • Growth of 21% YoY ✓ Human clinical studies initiated using antibody discovered through Twist Biopharma Solutions • $6.4 million in orders • Scaling orders • Scaling revenue ONE-STOP-SHOP In vitro discovery and Di
Slide 11: Combined Biopharma Business
3 Biopharma Solutions Combined Biopharma Business 95 64 Active Programs Programs Started Broad Disease Indications Cancer, Neurology, 406 Immuno-oncology, Partners Infectious Disease, Canine / Feline, Other 1,063 82 Varied Completed Milestones/ Modalities Programs Royalties mAbs, Bispecific Antibodi
Slide 12: Crossing the Threshold to Profitability
Crossing the Threshold to Profitability Continued revenue and margin growth Strong operational and commercial execution Platform enhancements and new products Adjusted EBITDA Breakeven Market and wallet share expansion Growing markets 12 | TWIST BIOSCIENCE | PROPRIETARY
Slide 13: Strong Quarterly Revenue Growth
Strong Quarterly Revenue Growth $ in Millions $92.8 $88.7 Biopharma $84.7 $81.5 NGS $75.3 $71.5 SynBio $66.9 $63.7 $60.2 $57.3 $56.1 $54.2 $48.1 $42.0 $38.0 $35.0 $32.4 $31.2 $28.2 $19.3 $21.2 $17.2 $15.7 $13.6 $13.6 $11.5 Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun S
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 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 14 | TWIST BIOSCIENCE | PROPRIETARY
Slide 15: Adjusted EBITDA Progress Toward Break-even
Adjusted EBITDA Progress Toward Break-even $ Millions $92.8 $88.7 $84.7 $81.5 $75.3 49.6% $71.5 $66.9 48.3% GM $63.7 $60.2 45.1% GM 43.3% GM 41.0% GM 40.5% GM GM 36.6% 34.4% GM GM 30.8% GM FY23Q2 FY23Q3 FY23Q4 FY24Q1 FY24Q2 FY24Q3 FY24Q4 FY25Q1 FY25Q2 Adj. SG&A + Adj. R&D* $69.8M $58.3M $57.4M $63.3
Slide 16: Additional Financial Commentary
From quarterly update - need to decide what want to share at JPM Additional Financial Commentary Q2 FY2025 Revenue $92.8M Gross Margin 49.6% R&D Expenses $23.9M SG&A Expenses $63.7M Net Income / (Loss) Attributable ($39.3M) to Common Stockholders Adjusted EBITDA* ($14.8M) Cash, Cash Equivalents and
Slide 17: FY2025 Guidance
From quarterly update - to discuss with AB FY2025 Guidance Q3 FY2025 Q4 FY2025 FY2025 Guidance* Guidance * Guidance * ~$94 to 97M ~$372 to $379M Revenue ~$37 to 39M Synbio -- ~$144 to 147M Synbio ~$51 to 52M NGS ~$205 to 209M NGS ~$6M Biopharma ~$23M Biopharma GM -- >50% ~49.5% Adjusted EBITDA** ~$(
Slide 18: Continued Product Innovation
Continued Product Innovation 1 2 3 SynBio NGS Biopharma Write Read Solutions ✓ Long Gene Fragments ✓ Tumor Informed MRD ✓ AI/ML Affinity Maturation ✓ Multiplexed Gene Fragments ✓ IVDR Exome ✓ Yeast Display for Antibody ✓ ISO13485 DNA Prep ✓ Ultra High Throughput Optimization (TAO) ✓ IgG CHO FlexPrep
Slide 19: Our Next Chapter
Our Next Chapter Continued revenue and margin growth Strong operational and commercial execution Platform enhancements and new products Market and wallet share expansion Growing markets Market Understanding Culture of Innovation Proven Technology Strong Differentiation Scalable Infrastructure Commer
Slide 20: Writing the Future
Writing the Future
Slide 21: Additional Slides
Additional Slides
Slide 22: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (In Millions) Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 GAAP Net Income $(59.2) $(57.4) $(46.2) $(43.0) $(45.5) $(85.6) $(34.7) $(31.6) $(39.3) Add (Deduct) Adjustments: Interest Income (3.5) (4.0) (3.9) (4.1) (3.9) (3.7) (3.6) (3.2) (2.8)
Slide 23: Adjusted R&D and SG&A Expenses Reconciliation
Adjusted R&D and SG&A Expenses Reconciliation (In Millions) Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 R&D Expenses — GAAP $27.4 $24.5 $23.7 $23.1 $24.1 $22.5 $21.1 $21.3 $23.9 Adjusted to exclude: Depreciation and Amortization 1.0 1.2 0.8 0.9 0.9 0.9 0.5 0.4 0.4 Stock-b