Twist Bioscience Corporation · NASDAQ:TWST
Twist Bioscience — FY2023 Earnings Presentation
18 slides from Twist Bioscience's earnings presentation, November 2023
Slide 1: Fiscal 2023 4Q and Year-End Financial Results
Fiscal 2023 4Q and Year-End 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 Year
Highlights from the Year $245.1 M $264 M 36.6% Revenues Orders Gross Margin Beat projection of Strong orders Setting stage for future $241-242 M heading into 2024 margin expansion TWIST BIOSCIENCE
Slide 5: 4Q and Full Year 2023: SynBio
Life Sciences Tools 1 SYN BIO WRITE 4Q and Full Year 2023 Q4 2023 NEXT UP • $26.5 million in revenues • $26.2 million in orders ü Factory of the Future launch FY 2023 ü FoF-enabled new product introduction • $98.2 million in revenues ü Express (Fast) Genes • $110.9 million in orders RNA • 634,000 ge
Slide 6: 4Q and Full Year 2023: NGS
Life Sciences Tools 2 NGS 4Q and Full Year 2023 Q4 2023 NEXT UP • $37.1 million in revenues • $39.1 million in orders ü Alliance content FY 2023 ü RNA sequencing workflow • $123.7 million in revenues • $131.5 million in orders ü Liquid biopsy growth ü MRD growth • Launched Twist Full Length UDI Adap
Slide 7: 4Q and Full Year 2023: Biopharma Solutions
Premium Solutions 3 BIOPHARMA SOLUTIONS 4Q and Full Year 2023 Q4 2023 NEXT UP • $3.4 million in revenues ü Integrated offering • $5.8 million in orders FY 2023 Scaling orders • $23.2 million in revenues Scaling revenue • $21.5 million in orders • Filled commercial team headcount • Entered into antib
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 314 69 44 806 68 Partners Active Programs Completed Mil
Slide 9: Advancing Century Archive Solutions
Premium Solutions 4 DNA DATA STORAGE Advancing Century Archive Solutions • Refining enzymatic synthesis: lowest TARGET EARLY ACCESS CUSTOMERS cost, aqueous-based, shippable system • Collaborating with Fortune 500 on Media/Entertainment industrial-grade CODEC • Demonstrating end-to-end Gigabyte Prese
Slide 10: Strong Revenue Growth
Strong Revenue Growth $66.9 $63.7 $ in Millions $60.2 $57.3 $56.1 $54.2 Biopharma $48.1 NGS $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 Ma
Slide 11: Strong Order Growth
Strong Order Growth $71.1 $ in Millions $64.7 $64.2 $63.8 $62.1 Biopharma $59.7 $55.0 NGS $49.6 $45.2 $42.7 $41.7 SynBio $39.1 $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 Se
Slide 12: Revenue by Geography
Revenue by Geography $ in Millions 40 Americas EMEA APAC 35 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 Sep '23 12 | TWIST BIOSCIENCE
Slide 13: Additional Financial Commentary
Additional Financial Commentary Fiscal 2023 4Q Financial Highlights Fiscal 2023 Full Year Financial Highlights Revenue: $66.9M Revenue: $245.1M Orders: $71.1M Orders: $264M Gross Margin: 36.6% Gross Margin: 36.6% R&D Expenses: $23.7M R&D Expense: $106.9M SG&A Expenses: $47.4M SG&A Expense: $189.7M N
Slide 14: Managing Cash Burn
Managing Cash Burn $285-290M Revenue 39-40% GM Full Year $294-$298M $100-$102M R&D OpEx Fiscal 2024 $194-$196M SG&A Guidance $180-188M $58-$60M SBC Operating Loss $40 Dep and Amor before Taxes November 17, 2023 $37-39M Data Storage OpEx ~$20M CapEx $245M YE Cash Balance *Guidance provided November 1
Slide 15: Managing Cash Burn: Quarterly Guidance
Managing Cash Burn: Quarterly Guidance Q1 FY2024 Guidance Q4 FY2024 Guidance $67-68M ~$27M Synbio $36-37M NGS Revenue $78M ~$4M Biopharma 38-39% GM $73M OpEx $38-40M ~$15M SBC $47-48M Loss from Operations ~$10M Depreciation ~$8M Data Storage Expense *Guidance provided November 17 2023 FY2024 focus o
Slide 16: Fiscal 2024 Objectives: Laying Groundwork for Scale and Gross Margin Expansion
Fiscal 2024 Objectives: Laying Groundwork for Scale and Gross Margin Expansion SYNBIO NGS BIOPHARMA DATA STORAGE • Gain market share • Continue offering • Continue to enter into • Demonstrate end-to- through penetration of solutions across discovery and end Gb Century the Makers’ Market sequencing p
Slide 17: Innovative platform for DNA on silicon
Innovative platform for DNA on silicon Large, growing markets Differentiated products Focused growth across four product groups Sustainable for our products and customers Validated business models Continued high revenue growth Path to profitability with strong track record 17 Twist Bioscience
Slide 18: Writing the Future
WRITING THE FUTURE