Twist Bioscience Corporation · NASDAQ:TWST
Twist Bioscience — Q2 2026 Earnings Presentation
25 slides from Twist Bioscience's earnings presentation, May 2026
Slide 1: Fiscal 2026 Q2 Financial Results
Fiscal 2026 Q2 Financial Results M AY 2 02 6
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: 13 Consecutive Quarters of Sequential Revenue Growth
13 Consecutive Quarters of Sequential Revenue Growth $110.7 $ 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
Slide 4: Key Metrics: Revenue, Gross Margin, Adj EBITDA
Key Metrics: Revenue, Gross Margin, Adj EBITDA Quarterly Revenue $ Millions $442 - $447 Annual Revenue $ Millions $376.6 $110.7 $313.0 51% >52% 51.6% 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 Q2 Adjust
Slide 5: Twist Accelerates Discovery
Twist Accelerates Discovery Rapid, Iterative Build 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 Da
Slide 6: One Platform, Many Tailored Solutions: Antibody Discovery
One Platform, Many Tailored Solutions: Antibody Discovery Meeting customers where they are, supporting them as ambitions grow Workflow 1 Workflow 2 Workflow 3 Workflow 4 Pooled Library Screening Internal Downstream Execution Downstream Entry End-to-End Partnership Up to 100,000+ specific sequences 1
Slide 7: Biological Continuum
Biological Continuum End-to-end discovery services Antibody and bispecific characterization (data) Bispecific antibody proteins IgG antibody proteins We move up DNA prep (micro to maxi prep) the customer Clonal genes value chain Gene pools Gene fragments Oligos A common pattern across markets Academ
Slide 8: NGS Applications
NGS Applications Products Products Uniformity and lower Comprehensive Quality • Fixed panels sequencing cost workflows • Custom panels Rapid Fast Sequencer • Alliance panels customization throughput agnostic • Library prep kits • Reagents • Controls and standards Services Services NGS 20,000 Deep NG
Slide 9: Twist Powers the Continuum of Care in Cancer Research
Twist Powers the Continuum of Care in Cancer Research INITIAL RELAPSE TREATMENT/SURGERY TREATMENT Treatment Response Monitoring TUMOR LOAD Early Cancer Neoantigen Detection + Therapy Profiling Molecular/Minimal Screening Residual Disease TIME DIAGNOSTIC THERAPEUTIC Screening Molecular/Minimal Residu
Slide 10: Twist MRD Changes the Equation
Twist MRD Changes the Equation Sensitivity and speed and scale Enables highly customized Chemo window opens MRD result available Surgery Blood draw for MRD Optimal window closes panels delivered rapidly Wk1 Wk2 Wk3 Wk4 Wk5 Wk6 Wk7 Wk8 Wk9 Provide tools for diagnostic companies to provide results ins
Slide 11: Complex DNA. Simple everything else.
✓ Simple, automated ordering Complex DNA. ✓ Complete transparency Simple everything else. ✓ Predictable turnaround time ✓ Reliable synthesis Complex gene synthesis from Twist. Coming soon. ✓ Affordable pricing 12¢ 15 ~99.5% ~99.9% per base starting price business day target Of clonal gene Of all DNA
Slide 12: On Path to Adj EBITDA Breakeven
On Path to Adj EBITDA Breakeven $110.7M 51.6% Gross $(13.3)M Adj. Revenue Margin EBITDA* Beat Guidance of ~ 2 margin point On path to $107-108M improvement YoY breakeven Cash, Cash Equivalents and Short-term Investments as of 03/31/26 $172 million *See adjusted EBITDA reconciliation on page 24. PROP
Slide 13: DNA Synthesis & Protein Solutions
DNA Synthesis & Protein Solutions 2Q FY26 Products • $53.3 million in revenue • Growth of 28% YoY and 4% sequentially • Clonal genes • Physically shipped approximately 300,000 genes • Express genes • Announced as a wet lab partner for Amazon Bio Discovery • Gene fragments* • Entered into bispecific
Slide 14: NGS Applications
NGS Applications Products 2Q FY26 • Fixed panels • $57.4 million in revenue • Custom panels • Growth of 12% YoY and 9% sequentially • Alliance panels • Launched Twist TrueAmp Library Prep Kit and Twist PCR-Free WGS • Library prep kits Library Prep Kit, leveraging in-house developed enzymes • Reagent
Slide 15: 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 Mar FY2018 0 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 PROPRIETARY | TWIST BIOSCIENCE | 15
Slide 16: 2QFY26 Industry Revenue Reporting
2QFY26 Industry Revenue Reporting Industry Reporting (% change vs. 2QFY25) +55% +14% +3% -18% -5% Academic and Industry and Global supply Therapeutics Diagnostics Government applied partners $40.8M $40.0M $12.8M $5.8M $11.4M Discovery research Tools for NGS assays, Chemical and enzyme Research OEMs
Slide 17: Adjusted EBITDA Progress Toward Break-even
Adjusted EBITDA Progress Toward Break-even $ Millions $110.7 $103.7 $96.1 $99.0 $92.8 $88.7 $81.5 $84.7 $75.3 $71.5 $66.9 53.4% 52.0% 51.3% 51.6% 48.3% 49.6% 45.1% 43.3% 40.5% 41.0% 36.6% FY23Q4 FY24Q1 FY24Q2 FY24Q3 FY24Q4 FY25Q1 FY25Q2 FY25Q3 FY25Q4 FY26Q1 FY26Q2 Revenue Gross Margin Adj. SG&A + Ad
Slide 18: FY2026 Guidance
FY2026 Guidance* Q3 FY2026 FY2026 REVENUE REVENUE $114 to $115M $442 to $447M GM >52% Adjusted EBITDA Breakeven Q4 FY2026** * Guidance provided as of May 4, 2026 **A reconciliation of adjusted EBITDA for the fourth quarter of fiscal 2026 to a corresponding GAAP financial guidance measur e is not ava
Slide 19: Profitable growth is in sight
Profitable growth is in sight Sustained revenue and margin growth Continued operational and commercial execution New products and AI offering Adjusted EBITDA Breakeven Investment in innovation driving top line acceleration Q4 FY 2026 Growing markets and customers PROPRIETARY | TWIST BIOSCIENCE | 19
Slide 20: Compelling Upside
Compelling Upside Differentiated platform provides Durable revenue growth, diversified product, innovation >50% gross margin Growing market share, expanding Line of sight to adj EBITDA breakeven serviceable market opportunities Working with top companies, landing and NPI powerhouse paired with expan
Slide 21: Writing the Future
Writing the Future
Slide 22: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (In Thousands) FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY2025 GAAP Net Income (Loss) ($ 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 23: 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 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (In Thousands) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 GAAP Net Income $(46,243) $(43,008) $(45,492) (85,571) $(34,655) $(31,594) $(39,328) $20,390 $(27,138) $(30,507) $(44,021) (Loss) Add (Deduct) Adjustments: Interest I
Slide 25: Adjusted R&D and SG&A Expenses Reconciliation
Adjusted R&D and SG&A Expenses Reconciliation (In Millions) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 R&D Expenses — GAAP $23.7 $23.1 $24.1 $22.5 $21.1 $21.3 $23.9 $18.0 $17.0 $17.1 $19.7 Adjusted to exclude: Depreciation and 0.8 0.9 0.9 0.9 0.5 0.4 0.4