On February 2, 2026 Twist Bioscience Corporation (NASDAQ: TWST), a mid-cap growth and value biotech company, reported financial results and business highlights for the first quarter ended December 31, 2025.
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"We’re continuing to build on the momentum we established in fiscal 2025, starting the new fiscal year with our twelfth consecutive quarter of growth. Revenue of $103.7 million exceeded guidance and increased 17% compared to the first quarter of 2025," said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. "As we continue through the year and beyond, we remain focused on driving toward profitability with consistent revenue growth, gross margins above 50% and disciplined spending to invest in scalable, sustainable growth opportunities while serving more customers, launching more products and expanding our addressable markets."
See "Non-GAAP Information" below for a discussion of the measure adjusted EBITDA.
FISCAL 2026 FIRST QUARTER FINANCIAL RESULTS
•Revenue: Total revenues for the first quarter of fiscal 2026 grew 17% to $103.7 million compared to $88.7 million for the same period of fiscal 2025.
◦DNA Synthesis and Protein Solutions revenue grew 27% to $51.1 million for the first quarter of fiscal 2026 compared to $40.1 million for the same period of fiscal 2025.
◦NGS Applications revenue grew 8% to $52.6 million for the first quarter of fiscal 2026 compared to $48.6 million for the same period of fiscal 2025. Excluding one large customer transitioning an assay from research to commercial, NGS Applications grew 18%.
•Cost of Revenues: Cost of revenues for the first quarter of fiscal 2026 increased to $49.7 million compared to $45.9 million for the same period of fiscal 2025.
•Gross Margin: Gross margin for the first quarter of fiscal 2026 increased to 52.0% compared to 48.3% for the same period of fiscal 2025.
•Research and Development Expenses: Research and development expenses for the first quarter of fiscal 2026 decreased to $17.1 million compared to $21.3 million for the same period of fiscal 2025.
•Selling, General and Administrative Expenses: Selling, general and administrative expenses for the first quarter of fiscal 2026 were $69.7 million compared to $56.2 million for the same period of fiscal 2025.
•Net Loss: Net loss for the first quarter of fiscal 2026 decreased to $30.5 million, or $0.50 per share, compared to $31.6 million, or $0.53 per share, for the same period of fiscal 2025.
•Adjusted EBITDA: Adjusted EBITDA for the first quarter of fiscal 2026 was $(13.4) million compared to $(16.3) million for the same period of fiscal 2025. See the table included in this release for a reconciliation between our adjusted EBITDA and net loss attributable to common stockholders, the most directly comparable GAAP financial measure.
•Cash Position: As of December 31, 2025, the company had approximately $198 million in cash, cash equivalents and short-term investments.
Recent Highlights:
•Shipped products to approximately 2,538 customers in the first quarter of fiscal 2026, versus approximately 2,376 in the same period of fiscal 2025.
•Physically shipped approximately 271,000 genes in the first quarter of fiscal 2026, compared with approximately 205,000 in the same period of fiscal 2025; additional >50,000 genes manufactured for data characterization
•Launched research-grade Plasmid DNA Preps designed to support the advancement of pharmaceutical and biotech customers’ pre-clinical studies.
Fiscal 2026 Financial Guidance
The following statements are based on Twist’s current expectations for fiscal 2026. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under "Forward-Looking Statements" below.
For the full fiscal year 2026, Twist expects:
•Total revenue in the range of $435 million to $440 million, growth of 16% at the midpoint, compared to prior guidance of $425 to $435 million. We expect the revenue increase versus prior guidance to be generally balanced across DSPS and NGS
•Gross margin to be above 52% for fiscal 2026
For the second quarter, Twist expects:
•Total revenue of approximately $107 million to $108 million, growth of approximately 16% percent year over year at the midpoint, with sequential growth driven by key NGS accounts
For the fourth quarter, Twist expects:
•To achieve adjusted EBITDA breakeven for the fourth quarter of fiscal 2026
Non-GAAP Information
This release includes EBITDA and adjusted EBITDA, which are non-GAAP financial measures, for the periods presented. EBITDA is defined as net loss adjusted to exclude interest income, income tax expense and depreciation and amortization. Adjusted EBITDA is defined as net loss adjusted to exclude interest income, income tax expense, depreciation and amortization, other income/expense, net, and stock-based compensation expense. These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles (GAAP) and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. We believe that these non-GAAP financial measures, when considered together with our financial information prepared in accordance with GAAP, can enhance investors’ and analysts’ ability to meaningfully compare our results from period to period and to our forward-looking guidance, and to identify operating trends in our business. However, non-GAAP information is not superior to financial measures calculated in accordance with GAAP, is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. A reconciliation table of the most comparable GAAP financial measure to the non-GAAP financial measures is included at the end of this press release.
A reconciliation of adjusted EBITDA for the fourth quarter of fiscal 2026 to a corresponding GAAP financial guidance measure is not available on a forward-looking basis because the Company does not provide guidance on GAAP net loss and is not able to present the various reconciling cash and non-cash items between GAAP net loss and adjusted EBITDA without unreasonable effort. In particular, stock-based compensation expense is impacted by the Company’s future hiring and retention needs, as well as the future fair market value of its common stock, all of which is difficult to predict and is subject to change. The actual amount of these expenses during the fourth quarter of fiscal 2026 will have a significant impact on Twist’s future GAAP financial results.
Conference Call Information
The company plans to hold a conference call and live audio webcast for analysts and investors at 8:00 a.m. Eastern Time today to discuss its financial results and provide an update on the company’s business. The conference call will be webcast live through the Investor Relations section under the "Company" tab at www.twistbioscience.com. Those parties interested in participating via telephone must register on the Company’s Investor Relations website or by clicking here. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. The webcast replay will be available for two weeks.
(Press release, Twist Bioscience, FEB 2, 2026, View Source [SID1234662401])