Twist Bioscience Corporation · NASDAQ:TWST
Twist Bioscience — Q3 FY2023 Earnings Presentation
17 slides from Twist Bioscience's earnings presentation, August 2023
Slide 1: Fiscal 2023 3Q Financial Results
Fiscal 2023 3Q Financial Results
Slide 2: Agenda
Agenda Welcome Angela Bitting SVP, Corporate Affairs; Chief ESG Officer Quarterly Highlights Emily Leproust Chief Executive Officer Financial and Operational Performance Jim Thorburn Chief Financial Officer Milestones Emily Leproust Chief Executive Officer Q&A Session | TWIST BIOSCIENCE
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 S
Slide 4: Highlights from the Quarter
Highlights from the Quarter $63.7 M $63.8 M 34.3% Revenue Orders Gross Margin On track to meet Beat projection of overall revenue Exceeded guidance $60-61 M projections for 4Q of ~30% and full year FY23 TWIST BIOSCIENCE
Slide 5: Life Sciences Tools SYN BIO: 3Q FY2023 Next Up
Life Sciences Tools 1 SYN BIO WRITE 3Q FY 2023 NEXT UP • $25.9 million in revenue ü Factory of the Future launch • $27.0 million in orders FoF-enabled new product introduction • Shipping vast majority of genes, gene Fast genes fragments and oligo pools from Wilsonville facility as of April 1 RNA • C
Slide 6: Life Sciences Tools NGS: 3Q FY2023 Next Up
Life Sciences Tools 2 NGS 3Q FY2023 NEXT UP • $33.2 million in revenue ü Alliance content • $33.2 million in orders ü RNA sequencing workflow • Entered into new and significant Liquid biopsy growth market with the launch of a portfolio of RNA sequencing tools MRD growth • Sticky business expected to
Slide 7: Biopharma Solutions: 3Q FY2023 Next Up
Premium Solutions 3 BIOPHARMA SOLUTIONS 3Q FY2023 NEXT UP • $4.6 million in revenue ü Integrated offering • $3.5 million in orders ü In vitro discovery and optimization • Entered into library licensing ü In vivo discovery and screening agreement with Cancer Research Horizons ü In silico lead optimiz
Slide 8: Combined Biopharma Business Including Historical Abveris
Combined Biopharma Business Including Historical Abveris Broad Varied Disease Indications Modalities Cancer, Neurology, Immuno-oncology, mAbs, Bispecific Antibodies, VHH, ADC, Infectious Disease, Canine / Feline, Other Protein Engineering, More 291 78 727 66 Partners Active Completed Milestones/ Pro
Slide 9: Advancing Commercial Solution: Century Archive
Premium Solutions 4 DNA DATA STORAGE Advancing Commercial Solution: Century Archive TARGET EARLY ACCESS CUSTOMERS • Demonstrate end-to-end Gb Century Archive workflow by the end of calendar 2023 Media/Entertainment • Plan to launch early access of Terabyte Century Archive solution in calendar 2025 B
Slide 10: Strong Revenue Growth
Strong Revenue Growth $ in Millions $63.7 $60.2 $57.3 Biopharma $56.1 $54.2 NGS $48.1 $42.0 SynBio $38.0 $35.0 $32.4 $31.2 $28.2 $21.2 $19.3 $17.2 $15.7 $13.6 $13.6 $11.5 $8.4 $6.5 Jun'18 Sep'18 Dec'18 Mar'19 Jun'19 Sep'19 Dec'19 Mar'20 Jun '20 Sep'20 Dec'20 Mar '21 Jun '21 Sept '21 Dec '21 Mar '22
Slide 11: Strong Order Growth
Strong Order Growth $64.7 $64.2 $63.8 $62.1 $ in Millions $59.7 $55.0 Biopharma $49.6 NGS $45.2 $42.7 $41.7 $39.1 SynBio $33.6 $24.8 $24.6 $24.7 $20.0 $18.1 $16.7 $15.2 $12.8 $10.7 $7.4 $8.5 $6.2 $4.5 Jun'17 Sep'17 Dec'17 Mar'18 Jun'18 Sep'18 Dec'18 Mar'19 Jun'19 Sep'19 Dec'19 Mar'20 Jun'20 Sep' 20
Slide 12: Revenue by Geography
Revenue by Geography $ in Millions 45 Americas 40 EMEA 35 APAC 30 25 20 15 10 5 0 Dec'17 Mar'18 Jun'18 Sep'18 Dec'18 Mar'19 Jun'19 Sep'19 Dec'19 Mar'20 Jun'20 Sep '20 Dec '20 Mar '21 Jun '21 Sep '21 Dec '21 Mar '22 Jun '22 Sep '22 Dec '22 Mar '23 Jun '23 12 | TWIST BIOSCIENCE
Slide 13: Additional Financial Commentary
Additional Financial Commentary Fiscal 2023 3Q Financial Highlights Fiscal 2023 4Q Financial Guidance* Revenue: $63.7M Revenue: $63-64M Orders: $63.8M Gross Margin: ~36% (normalized 38%)** Gross Margin: 34.3% R&D Expense: ~$26M R&D Expenses: $24.5M SG&A Expense: ~$47M SG&A Expenses: $46.1M Restructu
Slide 14: Managing Cash Burn
Managing Cash Burn FY2023 Guidance* FY2024 Guidance* $241-242M Revenue ~36% GM Adjusted EBITDA breakeven for the core business exiting Q4 $308M FY2024 R&D Expense: ~$109M SG&A Expense: ~189M Mark to market: ~$6M OpEx Delayed in reaching initial timeline of Restructuring Costs: $14M Other income & ex
Slide 15: Accelerated Path to Profitability
Accelerated Path to Profitability $285M Revenue Adj EBITDA breakeven for core business* • Driving to achieve adjusted EBITDA breakeven • Streamlined teams prioritizing projects with the greatest potential where Twist has a competitive advantage • Focused on disruptive market opportunities for profit
Slide 16: Innovative platform for DNA on silicon
Innovative platform for DNA on silicon Large, growing markets Differentiated products Focused growth across four businesses Sustainable for our products and customers Validated business models Continued high revenue growth Path to profitability with strong track record 16 Twist Bioscience As used in
Slide 17: Writing the Future
WRITING THE FUTURE