Twist Bioscience (TWST) 10-Q 3 Feb 25 2025 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Dec. 31, 2024	Jan. 30, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-38720
Entity Registrant Name	Twist Bioscience Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2058888
Entity Address, Address Line One	681 Gateway Blvd
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	800
Local Phone Number	719-0671
Title of 12(b) Security	Common Stock
Trading Symbol	TWST
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59,651,142
Amendment Flag	false
Entity Central Index Key	0001581280
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Current assets:
Cash and cash equivalents	$ 221,403	$ 226,316
Short-term investments	49,424	50,083
Accounts receivable, net	39,315	34,903
Inventories	23,518	24,078
Prepaid expenses and other current assets	11,649	11,396
Total current assets	345,309	346,776
Property and equipment, net	100,669	102,520
Operating lease right-of-use assets	56,475	58,829
Goodwill	85,811	85,811
Intangible assets, net	14,215	14,478
Restricted cash, non-current	2,656	2,816
Other non-current assets	3,445	3,093
Total assets	608,580	614,323
Current liabilities:
Accounts payable	7,503	1,630
Accrued expenses	20,129	15,104
Accrued compensation	21,742	33,650
Current portion of operating lease liability	15,030	14,805
Other current liabilities	5,242	5,817
Total current liabilities	69,646	71,006
Operating lease liability, net of current portion	67,586	70,221
Liability related to the sale of future revenue	15,000	0
Other non-current liabilities	407	407
Total liabilities	152,639	141,634
Commitments and contingencies (Note 6)
Stockholders’ equity
Common stock, $0.00001 par value —100,000 and 100,000 shares authorized at December 31, 2024 and September 30, 2024, respectively; 59,582 and 58,877 shares issued and outstanding at December 31, 2024 and September 30, 2024, respectively	0	0
Additional paid-in capital	1,730,092	1,715,119
Accumulated other comprehensive income/(loss)	(649)	(522)
Accumulated deficit	(1,273,502)	(1,241,908)
Total stockholders’ equity	455,941	472,689
Total liabilities and stockholders’ equity	$ 608,580	$ 614,323

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2024	Sep. 30, 2024
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.00001	$ 0.00001
Common stock, authorized (in shares)	100,000	100,000
Common stock, issued (in shares)	59,582	58,877
Common stock, outstanding (in shares)	59,582	58,877

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Revenues	[1]	$ 88,713	$ 71,498
Operating expenses:
Cost of revenues		45,873	42,536
Research and development		21,307	23,099
Selling, general and administrative		56,177	52,840
Total operating expenses		123,357	118,475
Loss from operations		(34,644)	(46,977)
Interest income		3,240	4,120
Interest expense		(24)	0
Other income (expense), net		(69)	(31)
Loss before income taxes		(31,497)	(42,888)
Income tax expense		(97)	(120)
Net loss		(31,594)	(43,008)
Other comprehensive loss:
Change in unrealized gain (loss) on investments		(66)	134
Foreign currency translation adjustment		(61)	57
Comprehensive loss		$ (31,721)	$ (42,817)
Net loss per share attributable to common stockholders—basic (in usd per share)		$ (0.53)	$ (0.75)
Net loss per share attributable to common stockholders—diluted (in usd per share)		$ (0.53)	$ (0.75)
Weighted average shares used in computing net loss per share attributable to common stockholders—basic (in shares)		59,162	57,497
Weighted average shares used in computing net loss per share attributable to common stockholders—diluted (in shares)		59,162	57,497
[1]During the three months ended December 31, 2024, and 2023, the Company had revenues from related parties in the amount of $4.0 million and $2.3 million, respectively.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) (Parenthetical) - USD ($) $ in Thousands		3 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Revenue	[1]	$ 88,713	$ 71,498
Related Party
Revenue		$ 4,000	$ 2,300
[1]During the three months ended December 31, 2024, and 2023, the Company had revenues from related parties in the amount of $4.0 million and $2.3 million, respectively.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common stock	Additional paid-in capital	Accumulated Other comprehensive loss	Accumulated deficit	Accumulated deficit Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Sep. 30, 2023			57,577
Beginning balance at Sep. 30, 2023	$ 623,432	$ (148)	$ 0	$ 1,657,222	$ (756)	$ (1,033,034)	$ (148)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)			260
Exercise of stock options (in shares)			58
Exercise of stock options	951			951
Repurchases of common stock for income tax withholding (in shares)			(96)
Repurchases of common stock for income tax withholding	(2,424)			(2,424)
Stock-based compensation	11,048			11,048
Other comprehensive income (loss)	191				191
Net loss	(43,008)					(43,008)
Ending balance (in shares) at Dec. 31, 2023			57,799
Ending balance at Dec. 31, 2023	$ 590,042		$ 0	1,666,797	(565)	(1,076,190)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting standards update	Accounting Standards Update 2016-13 [Member]
Beginning balance (in shares) at Sep. 30, 2024	58,877		58,877
Beginning balance at Sep. 30, 2024	$ 472,689		$ 0	1,715,119	(522)	(1,241,908)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)			536
Exercise of stock options (in shares)	169		169
Exercise of stock options	$ 2,950			2,950
Repurchases of common stock for income tax withholding	(6)			(6)
Stock-based compensation	12,029			12,029
Other comprehensive income (loss)	(127)				(127)
Net loss	$ (31,594)					(31,594)
Ending balance (in shares) at Dec. 31, 2024	59,582		59,582
Ending balance at Dec. 31, 2024	$ 455,941		$ 0	$ 1,730,092	$ (649)	$ (1,273,502)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net loss	$ (31,594)	$ (43,008)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	6,380	8,171
Stock-based compensation	11,991	11,020
Other non-cash adjustments	(20)	312
Changes in assets and liabilities:
Accounts receivable, net	(4,537)	8,058
Inventories	560	1,201
Prepaid expenses and other current assets	(249)	(1,116)
Other non-current assets	(356)	300
Accounts payable	5,711	(4,205)
Accrued expenses	3,137	2,900
Accrued compensation	(11,850)	(5,078)
Other liabilities	(601)	(1,528)
Net cash used in operating activities	(21,428)	(22,973)
Cash flows from investing activities
Purchases of property and equipment	(2,268)	(1,506)
Purchases of investments	(20,593)	(18,329)
Proceeds from maturity of investments	21,325	24,000
Net cash (used in) provided by investing activities	(1,536)	4,165
Cash flows from financing activities
Proceeds from exercise of stock options	2,950	951
Proceeds from the issuance of liability related to sale of future revenue	15,000	0
Repurchases of common stock for income tax withholding	(6)	(2,424)
Net cash (used in) provided by financing activities	17,944	(1,473)
Effect of exchange rates on cash, cash equivalents and restricted cash	(53)	116
Net decrease in cash, cash equivalents, and restricted cash	(5,073)	(20,165)
Cash, cash equivalents, and restricted cash at beginning of period	229,132	289,281
Cash, cash equivalents, and restricted cash at end of period	224,059	269,116
Supplemental disclosure of cash flow information
Income taxes paid, net of refunds	3	40
Non-cash investing and financing activities
Property and equipment additions included in accounts payable and accrued expenses	$ 2,136	$ 487

Organization and description of

Organization and description of business	3 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and description of business	Organization and description of business Twist Bioscience Corporation (the Company) was incorporated in the state of Delaware on February 4, 2013. The Company is a leading, rapidly growing synthetic biology company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The Company’s fiscal year ends on September 30. The core of the Company's platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. The Company has combined our silicon-based DNA writing technology with proprietary software, scalable commercial infrastructure and an e-commerce platform to create an integrated technology platform that enables us to achieve high levels of quality, precision, automation, and manufacturing throughput at a significantly lower cost than our competitors. The Company has applied its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next generation sequencing, or NGS, sample preparation, and antibody libraries for drug discovery and development, all designed to enable its customers to conduct research more efficiently and effectively. The Company has leveraged the same technology to expand its footprint beyond DNA synthesis to manufacture synthetic RNA as well as antibody proteins to disrupt and innovate within larger market opportunities, in addition to discovery partnerships for biologic drugs and developing completely new applications for synthetic DNA, such as digital data storage. The Company has recognized annual losses from operations since inception and has an accumulated deficit of $1,273.5 million as of December 31, 2024. The Company incurred net losses of $31.6 million and $43.0 million for the three months ended December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company had cash and cash equivalents of $221.4 million and short-term investments of $49.4 million. The Company expects that its current cash, cash equivalents, and short-term investments will be sufficient to fund its operations for a period of at least one year from the date the condensed consolidated financial statements are issued.

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Basis of presentation The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information. Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K for the fiscal year ended September 30, 2024 (the Annual Report on Form 10-K) filed with the Securities and Exchange Commission on November 18, 2024. The condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the condensed consolidated financial statements. The condensed consolidated balance sheet at September 30, 2024 is derived from audited consolidated financial statements but does not include all disclosures required by GAAP. The operating results for the three months ended December 31, 2024 are not necessarily indicative of the results expected for the full year ending September 30, 2025 or any interim period. Use of estimates The presentation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Principles of Consolidation The Company’s unaudited condensed consolidated financial statements include its wholly owned subsidiaries. All intercompany balances and accounts are eliminated in consolidation. Cash and cash equivalents and restricted cash The following table provides a reconciliation of the Company’s cash and cash equivalents and non-current portion of restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total cash, cash equivalents and restricted cash shown in the Company’s condensed consolidated statements of cash flows: (in thousands) December 31, September 30, Cash and cash equivalents $ 221,403 $ 226,316 Restricted cash, non-current 2,656 2,816 Total cash, cash equivalents and restricted cash $ 224,059 $ 229,132 Significant accounting policies There have been no material changes in the accounting policies from those disclosed in the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K other than disclosed below. Liability related to the sale of future revenue The Company accounts for the proceeds received from the monetization of future milestone and royalty payments from its contracts with certain customers as a debt instrument, which is amortized using the effective interest rate method over the estimated term of the arrangement. The Company recognizes interest expense thereon using the effective rate, which is based on its current estimates of future milestone and royalty payments under its customer contracts to be paid to the counterparty over the term of the arrangement. The Company periodically assesses these future estimated payments to impute interest on the carrying value of the liability. To the extent its estimates of future payments to the counterparty are greater or less than previous estimates or the estimated timing of such payments is materially different than previous estimates, the Company will account for any such changes by adjusting the effective interest rate on a prospective basis, with a corresponding impact to the liability. The assumptions used in determining the expected repayment term of the liability also requires that the Company makes estimates that could impact the classification of the liability, interest recorded on such liability, as well as the period over which such interest will be incurred. For further discussion, please see Note 5, Liability related to the sale of future revenue liability. Recent accounting pronouncements New accounting guidance issued but not yet effective In December 2023, the FASB issued ASU No. 2023-09 "Income Taxes (Topic 740)". The amendments in this ASU require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The amendments in this update are effective for annual periods beginning after December 15, 2024. The standard is not expected to have a material impact to the Company's consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07 "Segment Reporting (Topic 280)". The amendments in this ASU improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted, and should be applied retrospectively. The standard is not expected to have a material impact to the Company's consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures, which will require additional expense disclosures for all public entities. The amendments require that at each interim and annual reporting period, an entity will disclose certain disaggregated expenses included in each relevant expense caption, as well as the total amount of selling expenses and, in annual periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the incremental disclosures that will be required in its financial statements. The Company has evaluated other recently issued accounting pronouncements and has concluded that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

Revenue

Revenue	3 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company’s revenue is generated through the sale of synthetic biology tools, such as synthetic genes, oligo pools, NGS tools, DNA libraries and biopharma services for antibody discovery, optimization and development ("Biopharma"). Contract balances The following table summarizes our contract balances: (in thousands) December 31, September 30, Contract assets (1) $ 1,837 $ 2,031 Contract liabilities (2) 1,381 2,131 (1) Consists of unbilled amounts primarily related to Biopharma contracts which consists of research and development agreements with third parties. (2) Consists of receipt of advance payment before our performance obligations related to Biopharma contracts are met. For the three months ended December 31, 2024 and December 31, 2023, the Company recognized revenue of $1.7 million and $1.3 million, respectively, from the amount that was included in the contract liability balance at the beginning of each period. In addition, for all periods presented, there was no revenue recognized in a reporting period from performance obligations satisfied in previous periods. The aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied as of December 31, 2024 was $8.1 million. The Company expects to recognize revenue over the next twelve months relating to performance obligations unsatisfied as of December 31, 2024. Based on the nature of the Company’s contracts with customers which are recognized over a term of less than 12 months, the Company has elected to use the practical expedient whereby costs to obtain a contract are expensed as they are incurred. The Company states its revenues net of any taxes collected from customers that are required to be remitted to various government agencies. The amount of taxes collected from customers and payable to governmental entities is included on the balance sheet as part of “Accrued expenses and other current liabilities.” Disaggregation of revenues The table below sets forth revenues by geographic region, based on ship-to destinations. Americas consists of the United States, Canada, Mexico and South America; EMEA consists of Europe, the Middle East, and Africa; and APAC consists of Japan, China, South Korea, India, Singapore, Malaysia and Australia. Three months ended (in thousands) 2024 2023 Americas $ 53,709 $ 43,959 EMEA 28,304 21,220 APAC 6,700 6,319 Total $ 88,713 $ 71,498 The table below sets forth revenues by products. Three months ended (in thousands) 2024 2023 Synthetic genes $ 26,485 $ 19,726 Oligo pools 5,094 4,189 DNA libraries 2,794 2,939 Antibody discovery 5,698 5,226 NGS tools 48,642 39,418 Total $ 88,713 $ 71,498 The table below sets forth revenues by industry. Three months ended (in thousands) 2024 2023 Industrial chemicals/materials $ 21,203 $ 16,277 Academic research 17,546 13,773 Healthcare 49,369 40,881 Food/agricultural 595 567 Total $ 88,713 $ 71,498

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Dec. 31, 2024
Cash and Cash Equivalents [Abstract]
Cash, cash equivalent and investments	Cash, cash equivalent and investments The following table sets forth the cash and cash equivalents, and investments as of December 31, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash $ 28,357 $ — $ — $ 28,357 Cash equivalents - money market funds 193,046 — — 193,046 Total cash and cash equivalents $ 221,403 $ — $ — $ 221,403 Short-term investments: U.S. government treasury bills $ 49,371 $ 53 $ — $ 49,424 Total short-term investments $ 49,371 $ 53 $ — $ 49,424 Non-current assets - equity investment in privately held companies $ 1,525 $ — $ — $ 1,525 Total cash, cash equivalents and investments $ 272,299 $ 53 $ — $ 272,352 The following table sets forth the cash and cash equivalents, and investments as of September 30, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash $ 26,458 $ — $ — $ 26,458 Cash equivalents - money market funds 199,858 — — 199,858 Total cash and cash equivalents $ 226,316 $ — $ — $ 226,316 Short-term investments: U.S. government treasury bills $ 49,964 $ 119 $ — $ 50,083 Total short-term investments $ 49,964 $ 119 $ — $ 50,083 Non-current assets - equity investment in privately held companies $ 1,525 $ — $ — $ 1,525 Total cash, cash equivalents and investments $ 277,805 $ 119 $ — $ 277,924 During the three months ended December 31, 2024 and 2023, gross realized gains and losses related to our short-term investments were not material. During the three months ended December 31, 2024 and 2023, the Company did not recognize any credit losses.

Fair value measurement

Fair value measurement	3 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair value measurement	Fair value measurement The Company assesses the fair value of financial instruments based on the provisions of ASC 820, Fair Value Measurements . ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considering counterparty credit risk in its assessment of fair value. Assets measured at fair value on a recurring basis As of December 31, 2024, financial assets measured and recognized at fair value are as follows: (in thousands) Level 1 Level 2 Level 3 Fair value Assets Money market funds $ 193,046 $ — $ — $ 193,046 U.S. government treasury bills 49,424 — — 49,424 Total financial assets $ 242,470 $ — $ — $ 242,470 As of September 30, 2024, financial assets measured and recognized at fair value are as follows: (in thousands) Level 1 Level 2 Level 3 Fair value Assets Money market funds $ 199,858 $ — $ — $ 199,858 U.S. government treasury bills 50,083 — — 50,083 Total financial assets $ 249,941 $ — $ — $ 249,941 Contractual maturities of short-term investments, as of December 31, 2024, were less than 12 months. Accrued interest receivable balances included in the prepaid expenses and other current assets within the condensed consolidated balance sheets were $1.4 million and $1.0 million as of December 31, 2024 and September 30, 2024, respectively. As of December 31, 2024 and September 30, 2024, there were no financial liabilities measured and recognized at fair value. There were no transfers between Level 1, Level 2 and Level 3 in the periods presented. Assets and liabilities without readily determinable values measured on a non-recurring basis The Company holds equity investment in a privately held company. The privately held company is a VIE, but the Company is not the primary beneficiary. The Company does not have the power to direct the activities that most significantly impact the economic performance of the investee. The Company’s maximum exposure to loss from this VIE consist of an equity investment of $1.5 million .

Balance sheet components

Balance sheet components	3 Months Ended
	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Balance sheet components	Balance sheet components Allowance for credit losses Allowance for credit losses were $0.7 million and $0.7 million as of December 31, 2024 and September 30, 2024, respectively. Inventories Inventories consist of the following: (in thousands) December 31, September 30, Raw materials $ 16,031 $ 17,316 Work-in-process 2,637 2,146 Finished goods 4,850 4,616 $ 23,518 $ 24,078 There is no consigned inventory balance as of December 31, 2024 and September 30, 2024. Property and Equipment, net Property and Equipment, net consists of the following: (in thousands) December 31, September 30, Laboratory equipment $ 99,730 $ 99,528 Furniture, fixtures and other equipment 2,942 2,944 Vehicles 211 211 Computer equipment 3,278 3,249 Computer software 10,105 10,095 Leasehold improvements 57,460 57,448 Construction in progress 8,331 4,688 $ 182,057 $ 178,163 Less: Accumulated depreciation and amortization (81,388) (75,643) $ 100,669 $ 102,520 Construction in progress mainly represents equipment costs, leasehold improvements costs and internal use software development costs. For the three months ended December 31, 2024 and December 31, 2023, the total depreciation and amortization expense was $6.1 million and $6.9 million, respectively. Other current liabilities Other current liabilities consist of the following: (in thousands) December 31, September 30, Income and other taxes payable $ 3,267 $ 2,725 Contract liabilities 1,381 2,131 Other current liabilities 594 961 $ 5,242 $ 5,817

Goodwill and intangible assets

Goodwill and intangible assets	3 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets The goodwill balance is presented below: (in thousands) December 31, 2024 September 30, 2024 Balance at beginning of period/year $ 85,811 $ 85,811 Balance at end of period/year $ 85,811 $ 85,811 The finite-lived intangible assets balances are presented below: December 31, 2024 (in thousands, except for years) Weighted average Gross Accumulated Net book Developed Technology 17 $ 19,120 $ (4,905) $ 14,215 Customer Relationships — 510 (510) — Total finite-lived intangible assets $ 19,630 $ (5,415) $ 14,215 September 30, 2024 (in thousands, except for years) Weighted average Gross Impairment Accumulated Net book Developed Technology 17 $ 50,020 $ (25,198) $ (10,344) $ 14,478 Customer Relationships — 15,210 (10,541) (4,669) — Tradenames & Trademarks — 900 (125) (775) — Total finite-lived intangible assets $ 66,130 $ (35,864) $ (15,788) $ 14,478

Leases

Leases	3 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases The Company leases certain of its facilities under non-cancellable operating leases expiring at various dates through 2044. The Company is also responsible for utilities, maintenance, insurance, and property taxes under these leases. The lease payments consist primarily of fixed rental payments for the right to use the underlying leased assets over the lease terms, as well as payments for common-area-maintenance and administrative services. The Company often receives customary incentives from its landlords, such as reimbursements for tenant improvements and rent abatement periods, which effectively reduce the total lease payments owed for these leases. Leases are classified as operating or financing at commencement. The Company does not have any material financing leases. Certain leases include options to renew or terminate at the Company’s discretion. The lease terms include periods covered by these options if it is reasonably certain the Company will renew or not terminate. The Company’s lease agreements do not contain any material residual value guarantees or restrictive covenants. The following table presents the Company's right-of-use assets and lease liabilities related to the Company’s operating leases as of December 31, 2024: (in thousands) December 31, Assets: Operating lease right-of-use asset $ 56,475 Current liabilities: Current portion of operating lease liabilities $ 15,030 Noncurrent liabilities: Operating lease liabilities, net of current portion $ 67,586 Future minimum lease payments under all non-cancelable operating leases as of December 31, 2024 are as follows: (in thousands) Operating Years ending September 30: Remainder of 2025 $ 11,156 2026 13,885 2027 8,371 2028 8,471 2029 6,609 Thereafter 81,405 Total minimum lease payments $ 129,897 Less: imputed interest (47,281) Total operating lease liabilities $ 82,616 Less: current portion (15,030) Operating lease liabilities, net of current portion $ 67,586 The components of lease expense and supplemental information were as follows: Three months ended (in thousands except years and percentage) 2024 2023 Operating lease costs $ 3,738 $ 4,010 Variable lease costs 1,920 1,538 Weighted-average remaining lease term (in years) - operating leases 15.2 years 15.3 years Weighted-average discount rate - operating leases 6.5 % 6.5 % Supplemental cash flow information related to leases are as follows: Three months ended (in thousands) 2024 2023 Cash payments included in the measurement of operating lease liabilities $ 3,700 $ 3,700

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Legal proceedings The Company may be subject to litigation, claims and disputes in the ordinary course of business. Certain significant matters are described below. We recognize accruals for matters to the extent that we conclude that a loss is both probable and reasonably estimable. If we determine that a material loss is reasonably possible and the loss or range of loss can be estimated, we disclose the possible loss. Securities Class Action On December 12, 2022, a putative securities class action lawsuit captioned Peters v. Twist Bioscience Corporation, et al., Case No. 22-cv-08168 (N.D. Cal.) (“Securities Class Action”) was filed in federal court in the Northern District of California (“Court”) against the Company, its Chief Executive Officer, and its Chief Financial Officer (the “Defendants”) alleging violations of federal securities laws. The Securities Class Action’s claims are based in large part on allegations made in a report issued on November 15, 2022 by Scorpion Capital (“Scorpion Report”) concerning, among other things, the Company’s DNA chip technology and accounting practices. The initial complaint filed in the Securities Class Action alleges that various statements that the defendants made between December 13, 2019 and November 14, 2022 were materially false and misleading in light of the allegations in the Scorpion Report. The plaintiff who initiated the lawsuit sought to represent a class of shareholders who acquired shares of the Company’s common stock between December 13, 2019 and November 14, 2022 and sought damages as well as certain other costs. On July 28, 2023, the Court appointed a new plaintiff, not the original plaintiff who filed the case, as lead plaintiff in the case and appointed a new law firm as lead counsel. On October 11, 2023, the lead plaintiff filed an amended complaint. The amended complaint is purportedly brought on behalf of all persons other than the Defendants who acquired the Company’s securities between December 20, 2018 and November 15, 2022. The amended complaint alleges that certain statements regarding, among other things, the Company’s DNA products and accounting practices were false and misleading. This case remains in the preliminary stage. Given the inherent uncertainty of litigation and the legal standards that must be met, including class certification and success on the merits, the Company cannot express an opinion on the likelihood of an unfavorable outcome or on the amount or range of any potential loss. The Company and the other defendants intend to vigorously defend themselves against the claims asserted against them and filed a motion to dismiss the amended complaint on December 6, 2023. A hearing on the motion to dismiss was held on November 13, 2024 and the Company is now awaiting the judge's decision. Derivative Action On September 25, 2023, a shareholder derivative suit captioned Shumacher vs. Leproust et al., No. 1:23-cv-01048-UNA, was filed in the United States District Court for the District of Delaware against directors of the Company and an employee (the “Derivative Action”). The suit is based on substantially the same allegations in the Securities Class Action and seeks to recover, on behalf of the Company, damages to the Company arising from, among other things, the Securities Class Action. On November 13, 2023, the parties to the Derivative Action entered into a stipulation staying the Derivative Action pending resolution of the anticipated motion to dismiss the defendants have filed in the Securities Class Action.

Related party transactions

Related party transactions	3 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related party transactions	Related party transactionsDuring the three months ended December 31, 2024 and 2023, the Company had revenues from related parties in the amount of $4.0 million and $2.3 million, respectively. During the three months ended December 31, 2024, the purchases of raw materials from related parties were immaterial. During the three months ended December 31, 2023, the Company purchased raw materials from related parties in the amount of $1.3 million. As of December 31, 2024 and September 30, 2024, receivable balances with related parties were $0.7 million and $0.5 million, respectively. As of December 31, 2024 and September 30, 2024, payable balances with related parties were immaterial.

Income taxes

Income taxes	3 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxesIn determining quarterly provisions for income taxes, the Company uses the annual estimated effective tax rate applied to the actual year-to-date profit or loss, adjusted for discrete items arising in that quarter. For the three months ended December 31, 2024 and 2023, the Company recorded provisions for income taxes of $0.1 million and $0.1 million, respectively.

Common stock

Common stock	3 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Common stock	Common stock As of December 31, 2024, the Company had reserved sufficient shares of common stock, with a par value of $0.00001 per share, for issuance upon exercise of outstanding stock options. Each share of common stock is entitled to one vote. The holders of shares of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors.

Stock-based compensation

Stock-based compensation	3 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based compensation	Stock-based compensation Stock-based compensation expense The Company recorded stock-based compensation expense in the condensed consolidated statement of operations and comprehensive loss for the periods presented as follows (in thousands): Three months ended (in thousands) 2024 2023 Cost of revenues $ 1,206 $ 924 Research and development 2,739 2,838 Selling, general and administrative 8,046 7,258 Total stock-based compensation expense $ 11,991 $ 11,020 An immaterial amount of stock-based compensation expense was capitalized to property and equipment related to capitalized software development costs for the three months ended December 31, 2024 and 2023. Restricted stock units A summary of the Company’s restricted stock unit activity excluding the performance-based restricted stock units during the three months ended December 31, 2024 was as follows: (in thousands, except per share data) Shares Weighted average grant date fair value per share Nonvested shares at September 30, 2024 1,964 $ 32.13 Granted 1,016 47.34 Vested/Issued (224) 39.03 Forfeited (132) 31.82 Nonvested shares at December 31, 2024 2,624 $ 37.44 As of December 31, 2024, there was $91.7 million of total unrecognized compensation cost related to these awards that is expected to be recognized over a weighted average period of 3.1 years. The total grant date fair value of the restricted stock units excluding performance-based restricted units awarded during the three months ended December 31, 2024 was $48.1 million. Performance stock units During the three months ended December 31, 2024, the Company granted additional performance-based restricted stock units to executives and employees that will vest upon achievement of multiple year revenue, gross profit, and profitability metrics as determined by the board of directors. Stock compensation expense for these awards is recorded over the vesting period based on the grant date fair value of the awards and probability of the achievement of specified performance targets. The grant date fair value is equal to the closing share price of the Company’s common stock on the date of grant. These awards will vest from a minimum of 10 months to a maximum of 34 months service period following the grant date, provided that the recipient is a Company employee at the time of vesting and the performance targets applicable to each award are achieved. The percentage of these awards that vest will depend on the achievement of specified performance targets at the end of the performance period and can range from 0% to 140% of the number of units granted. A summary of the Company’s performance-based restricted stock units during the three months ended December 31, 2024 was as follows: (in thousands, except per share data) Shares Weighted average grant date fair value per share Nonvested shares at September 30, 2024 1,167 $ 27.01 Granted 1,298 47.85 Vested/Issued (312) 44.89 Forfeited (90) 20.83 Nonvested shares at December 31, 2024 2,063 $ 37.69 As of December 31, 2024, the unrecognized compensation costs related to these awards was $66.4 million based on the maximum achievement of the performance targets. The Company expects to recognize those costs over a weighted average period of 2.0 years. The total grant date fair value of performance-based restricted stock units awarded during the three months ended December 31, 2024 was $62.1 million. Stock options A summary of the Company’s stock option activity excluding the performance-based stock options during the three months ended December 31, 2024 was as follows: (in thousands, except per share data) Shares Weighted average exercise price per share Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2024 1,619 $ 24.51 4.27 $ 36,798 Forfeited (2) 41.64 — — Exercised (169) 17.41 — 4,881 Outstanding at December 31, 2024 1,447 $25.31 4.09 $ 33,816 Vested and exercisable at December 31, 2024 1,445 $ 25.19 4.09 $ 33,816 As of December 31, 2024, the unrecognized compensation costs related to these awards was $0.1 million. The Company expects to recognize those costs over a weighted average period of 0.8 years. Performance stock options A summary of the Company’s performance-based stock option activity during the three months ended December 31, 2024 was as follows: (in thousands, except per share data) Shares Weighted average exercise price per share Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2024 273 $ 59.83 6.39 $ 1,042 Outstanding at December 31, 2024 273 $ 59.83 6.13 $ 1,139 Vested and exercisable at December 31, 2024 243 $ 63.36 5.99 $ 683 As of December 31, 2024, the unrecognized compensation costs related to these awards was $0.1 million. The Company expects to recognize those costs over a weighted average period of 0.3 years. As of December 31, 2024, the Company determined that 30,000 shares of common stock are expected to vest based on the probability of the performance condition that will be achieved under this equity award program. 2018 Employee Stock Purchase Plan The number of shares of the Company's common stock reserved for issuance under the 2018 Employee Stock Purchase Plan ("ESPP") at December 31, 2024 was as follows: (In thousands) Shares Outstanding at September 30, 2024 611 Additional shares authorized 249 Shares issued during the period — Outstanding at December 31, 2024 860

Net loss per share

Net loss per share	3 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Net loss per share attributable to common stockholders	Net loss per share The following table sets forth the computation of the Company’s basic and diluted net loss per share: Three months ended (in thousands, except per share data) 2024 2023 Numerator: Net loss $ (31,594) $ (43,008) Denominator: Weighted average shares used in computing net loss per share, basic and diluted 59,162 57,497 Net loss per share, basic and diluted $ (0.53) $ (0.75) The potentially dilutive common shares that were excluded from the calculation of diluted net loss per share because their effect would have been antidilutive for the periods presented are as follows: Three months ended December 31, (in thousands) 2024 2023 Shares subject to options (including performance options) to purchase common stock 1,719 2,253 Unvested restricted stock units and performance stock units 4,686 3,824 Shares subject to employee stock purchase plan 68 124 Total 6,474 6,201

Liability Related to the Sales

Liability Related to the Sales of Future Royalties	3 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liability related to the sales of future royalties	Liability related to the sales of future revenue On October 21, 2024, the Company executed the Royalty Purchase Agreement with XOMA (US) LLC ("XOMA Royalty"). Under the Royalty Purchase Agreement, XOMA Royalty provided Twist Bioscience an upfront payment of $15.0 million in cash in exchange for the right to receive half of the future potential milestone and royalty payments resulting from certain antibody discovery and biopharma services agreements between the Company and its customers ("underlying customer agreements"). The terms of the underlying customer agreements provide for milestone and royalty payments to the Company contingent upon the Company's customers achieving certain clinical, regulatory, development and commercial milestones. Under the terms of the underlying customer agreements, the Company has significant continuing involvement as the Company has ongoing obligations such as services to support the generation of these milestone and royalty payments. As such, the Company applied the guidance under ASC 470, Debt, and recorded the upfront payment of $15.0 million as a liability related to the sale of future revenue, which will be amortized using the effective interest method over the estimated term of the Royalty Purchase agreement. As milestone and royalty payments are remitted to XOMA Royalty, the balance of the liability related to the sale of future revenue will be effectively repaid over the term of the Royalty Purchase Agreement. In addition, in accordance with ASC 470, Debt, the Company will account for any milestone and royalty payments received in the future as revenue. The estimate of the effective interest rate contains significant assumptions regarding the timing and amount of expected milestone and royalty payments, which are considered Level 3 fair value inputs, and impact the interest expense that will be recognized over the term of the Royalty Purchase Agreement. As of December 31, 2024, the Company's estimate of aggregate future milestone and royalty payments expected to be paid to XOMA Royalty over the term of the Royalty Purchase Agreement did not exceed $15.0 million, therefore, no imputed interest expense has been recorded during the three months ended December 31, 2024.

Subsequent events

Subsequent events	3 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent events	* * * * *

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (31,594)	$ (43,008)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	3 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation
Use of estimates	Use of estimates
Principles of Consolidation	Principles of Consolidation The Company’s unaudited condensed consolidated financial statements include its wholly owned subsidiaries. All intercompany balances and accounts are eliminated in consolidation.
Liability related to the sale of future revenue	Liability related to the sale of future revenue The Company accounts for the proceeds received from the monetization of future milestone and royalty payments from its contracts with certain customers as a debt instrument, which is amortized using the effective interest rate method over the estimated term of the arrangement. The Company recognizes interest expense thereon using the effective rate, which is based on its current estimates of future milestone and royalty payments under its customer contracts to be paid to the counterparty over the term of the arrangement. The Company periodically assesses these future estimated payments to impute interest on the carrying value of the liability. To the extent its estimates of future payments to the counterparty are greater or less than previous estimates or the estimated timing of such payments is materially different than previous estimates, the Company will account for any such changes by adjusting the effective interest rate on a prospective basis, with a corresponding impact to the liability. The assumptions used in determining the expected repayment term of the liability also requires that the Company makes estimates that could impact the classification of the liability, interest recorded on such liability, as well as the period over which such interest will be incurred. For further discussion, please see Note 5, Liability related to the sale of future revenue liability.
Recent accounting pronouncements	Recent accounting pronouncements New accounting guidance issued but not yet effective In December 2023, the FASB issued ASU No. 2023-09 "Income Taxes (Topic 740)". The amendments in this ASU require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The amendments in this update are effective for annual periods beginning after December 15, 2024. The standard is not expected to have a material impact to the Company's consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07 "Segment Reporting (Topic 280)". The amendments in this ASU improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted, and should be applied retrospectively. The standard is not expected to have a material impact to the Company's consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures, which will require additional expense disclosures for all public entities. The amendments require that at each interim and annual reporting period, an entity will disclose certain disaggregated expenses included in each relevant expense caption, as well as the total amount of selling expenses and, in annual periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the incremental disclosures that will be required in its financial statements. The Company has evaluated other recently issued accounting pronouncements and has concluded that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	3 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of the Company’s cash and cash equivalents and non-current portion of restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total cash, cash equivalents and restricted cash shown in the Company’s condensed consolidated statements of cash flows: (in thousands) December 31, September 30, Cash and cash equivalents $ 221,403 $ 226,316 Restricted cash, non-current 2,656 2,816 Total cash, cash equivalents and restricted cash $ 224,059 $ 229,132

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The following table summarizes our contract balances: (in thousands) December 31, September 30, Contract assets (1) $ 1,837 $ 2,031 Contract liabilities (2) 1,381 2,131 (1) Consists of unbilled amounts primarily related to Biopharma contracts which consists of research and development agreements with third parties.
Summary of Revenue by Geographic Region	The table below sets forth revenues by geographic region, based on ship-to destinations. Americas consists of the United States, Canada, Mexico and South America; EMEA consists of Europe, the Middle East, and Africa; and APAC consists of Japan, China, South Korea, India, Singapore, Malaysia and Australia. Three months ended (in thousands) 2024 2023 Americas $ 53,709 $ 43,959 EMEA 28,304 21,220 APAC 6,700 6,319 Total $ 88,713 $ 71,498
Summary of Revenue by Product	The table below sets forth revenues by products. Three months ended (in thousands) 2024 2023 Synthetic genes $ 26,485 $ 19,726 Oligo pools 5,094 4,189 DNA libraries 2,794 2,939 Antibody discovery 5,698 5,226 NGS tools 48,642 39,418 Total $ 88,713 $ 71,498
Summary of Revenue by Industry	The table below sets forth revenues by industry. Three months ended (in thousands) 2024 2023 Industrial chemicals/materials $ 21,203 $ 16,277 Academic research 17,546 13,773 Healthcare 49,369 40,881 Food/agricultural 595 567 Total $ 88,713 $ 71,498

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	3 Months Ended
	Dec. 31, 2024
Cash and Cash Equivalents [Abstract]
Summary of Debt Securities Available-for-Sale	The following table sets forth the cash and cash equivalents, and investments as of December 31, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash $ 28,357 $ — $ — $ 28,357 Cash equivalents - money market funds 193,046 — — 193,046 Total cash and cash equivalents $ 221,403 $ — $ — $ 221,403 Short-term investments: U.S. government treasury bills $ 49,371 $ 53 $ — $ 49,424 Total short-term investments $ 49,371 $ 53 $ — $ 49,424 Non-current assets - equity investment in privately held companies $ 1,525 $ — $ — $ 1,525 Total cash, cash equivalents and investments $ 272,299 $ 53 $ — $ 272,352 The following table sets forth the cash and cash equivalents, and investments as of September 30, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash $ 26,458 $ — $ — $ 26,458 Cash equivalents - money market funds 199,858 — — 199,858 Total cash and cash equivalents $ 226,316 $ — $ — $ 226,316 Short-term investments: U.S. government treasury bills $ 49,964 $ 119 $ — $ 50,083 Total short-term investments $ 49,964 $ 119 $ — $ 50,083 Non-current assets - equity investment in privately held companies $ 1,525 $ — $ — $ 1,525 Total cash, cash equivalents and investments $ 277,805 $ 119 $ — $ 277,924
Summary of Cash and Cash Equivalents	The following table sets forth the cash and cash equivalents, and investments as of December 31, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash $ 28,357 $ — $ — $ 28,357 Cash equivalents - money market funds 193,046 — — 193,046 Total cash and cash equivalents $ 221,403 $ — $ — $ 221,403 Short-term investments: U.S. government treasury bills $ 49,371 $ 53 $ — $ 49,424 Total short-term investments $ 49,371 $ 53 $ — $ 49,424 Non-current assets - equity investment in privately held companies $ 1,525 $ — $ — $ 1,525 Total cash, cash equivalents and investments $ 272,299 $ 53 $ — $ 272,352 The following table sets forth the cash and cash equivalents, and investments as of September 30, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash $ 26,458 $ — $ — $ 26,458 Cash equivalents - money market funds 199,858 — — 199,858 Total cash and cash equivalents $ 226,316 $ — $ — $ 226,316 Short-term investments: U.S. government treasury bills $ 49,964 $ 119 $ — $ 50,083 Total short-term investments $ 49,964 $ 119 $ — $ 50,083 Non-current assets - equity investment in privately held companies $ 1,525 $ — $ — $ 1,525 Total cash, cash equivalents and investments $ 277,805 $ 119 $ — $ 277,924

Fair value measurement (Tables)

Fair value measurement (Tables)	3 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Summary of Cash and Cash Equivalents	The following table sets forth the cash and cash equivalents, and investments as of December 31, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash $ 28,357 $ — $ — $ 28,357 Cash equivalents - money market funds 193,046 — — 193,046 Total cash and cash equivalents $ 221,403 $ — $ — $ 221,403 Short-term investments: U.S. government treasury bills $ 49,371 $ 53 $ — $ 49,424 Total short-term investments $ 49,371 $ 53 $ — $ 49,424 Non-current assets - equity investment in privately held companies $ 1,525 $ — $ — $ 1,525 Total cash, cash equivalents and investments $ 272,299 $ 53 $ — $ 272,352 The following table sets forth the cash and cash equivalents, and investments as of September 30, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash $ 26,458 $ — $ — $ 26,458 Cash equivalents - money market funds 199,858 — — 199,858 Total cash and cash equivalents $ 226,316 $ — $ — $ 226,316 Short-term investments: U.S. government treasury bills $ 49,964 $ 119 $ — $ 50,083 Total short-term investments $ 49,964 $ 119 $ — $ 50,083 Non-current assets - equity investment in privately held companies $ 1,525 $ — $ — $ 1,525 Total cash, cash equivalents and investments $ 277,805 $ 119 $ — $ 277,924
Summary of Debt Securities Available-for-Sale	The following table sets forth the cash and cash equivalents, and investments as of December 31, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash $ 28,357 $ — $ — $ 28,357 Cash equivalents - money market funds 193,046 — — 193,046 Total cash and cash equivalents $ 221,403 $ — $ — $ 221,403 Short-term investments: U.S. government treasury bills $ 49,371 $ 53 $ — $ 49,424 Total short-term investments $ 49,371 $ 53 $ — $ 49,424 Non-current assets - equity investment in privately held companies $ 1,525 $ — $ — $ 1,525 Total cash, cash equivalents and investments $ 272,299 $ 53 $ — $ 272,352 The following table sets forth the cash and cash equivalents, and investments as of September 30, 2024: (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Cash $ 26,458 $ — $ — $ 26,458 Cash equivalents - money market funds 199,858 — — 199,858 Total cash and cash equivalents $ 226,316 $ — $ — $ 226,316 Short-term investments: U.S. government treasury bills $ 49,964 $ 119 $ — $ 50,083 Total short-term investments $ 49,964 $ 119 $ — $ 50,083 Non-current assets - equity investment in privately held companies $ 1,525 $ — $ — $ 1,525 Total cash, cash equivalents and investments $ 277,805 $ 119 $ — $ 277,924
Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	As of December 31, 2024, financial assets measured and recognized at fair value are as follows: (in thousands) Level 1 Level 2 Level 3 Fair value Assets Money market funds $ 193,046 $ — $ — $ 193,046 U.S. government treasury bills 49,424 — — 49,424 Total financial assets $ 242,470 $ — $ — $ 242,470 As of September 30, 2024, financial assets measured and recognized at fair value are as follows: (in thousands) Level 1 Level 2 Level 3 Fair value Assets Money market funds $ 199,858 $ — $ — $ 199,858 U.S. government treasury bills 50,083 — — 50,083 Total financial assets $ 249,941 $ — $ — $ 249,941

Balance sheet components (Table

Balance sheet components (Tables)	3 Months Ended
	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Summary of Inventories	Inventories consist of the following: (in thousands) December 31, September 30, Raw materials $ 16,031 $ 17,316 Work-in-process 2,637 2,146 Finished goods 4,850 4,616 $ 23,518 $ 24,078
Summary of Property, Plant and Equipment	Property and Equipment, net consists of the following: (in thousands) December 31, September 30, Laboratory equipment $ 99,730 $ 99,528 Furniture, fixtures and other equipment 2,942 2,944 Vehicles 211 211 Computer equipment 3,278 3,249 Computer software 10,105 10,095 Leasehold improvements 57,460 57,448 Construction in progress 8,331 4,688 $ 182,057 $ 178,163 Less: Accumulated depreciation and amortization (81,388) (75,643) $ 100,669 $ 102,520
Summary of Other Current Liabilities	Other current liabilities consist of the following: (in thousands) December 31, September 30, Income and other taxes payable $ 3,267 $ 2,725 Contract liabilities 1,381 2,131 Other current liabilities 594 961 $ 5,242 $ 5,817

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	3 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill balance	The goodwill balance is presented below: (in thousands) December 31, 2024 September 30, 2024 Balance at beginning of period/year $ 85,811 $ 85,811 Balance at end of period/year $ 85,811 $ 85,811
Summary of Intangible Assets	The finite-lived intangible assets balances are presented below: December 31, 2024 (in thousands, except for years) Weighted average Gross Accumulated Net book Developed Technology 17 $ 19,120 $ (4,905) $ 14,215 Customer Relationships — 510 (510) — Total finite-lived intangible assets $ 19,630 $ (5,415) $ 14,215 September 30, 2024 (in thousands, except for years) Weighted average Gross Impairment Accumulated Net book Developed Technology 17 $ 50,020 $ (25,198) $ (10,344) $ 14,478 Customer Relationships — 15,210 (10,541) (4,669) — Tradenames & Trademarks — 900 (125) (775) — Total finite-lived intangible assets $ 66,130 $ (35,864) $ (15,788) $ 14,478

Leases (Tables)

Leases (Tables)	3 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Relating to Companies Operating Lease	The following table presents the Company's right-of-use assets and lease liabilities related to the Company’s operating leases as of December 31, 2024: (in thousands) December 31, Assets: Operating lease right-of-use asset $ 56,475 Current liabilities: Current portion of operating lease liabilities $ 15,030 Noncurrent liabilities: Operating lease liabilities, net of current portion $ 67,586
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments under all non-cancelable operating leases as of December 31, 2024 are as follows: (in thousands) Operating Years ending September 30: Remainder of 2025 $ 11,156 2026 13,885 2027 8,371 2028 8,471 2029 6,609 Thereafter 81,405 Total minimum lease payments $ 129,897 Less: imputed interest (47,281) Total operating lease liabilities $ 82,616 Less: current portion (15,030) Operating lease liabilities, net of current portion $ 67,586
Lease, Cost	The components of lease expense and supplemental information were as follows: Three months ended (in thousands except years and percentage) 2024 2023 Operating lease costs $ 3,738 $ 4,010 Variable lease costs 1,920 1,538 Weighted-average remaining lease term (in years) - operating leases 15.2 years 15.3 years Weighted-average discount rate - operating leases 6.5 % 6.5 % Supplemental cash flow information related to leases are as follows: Three months ended (in thousands) 2024 2023 Cash payments included in the measurement of operating lease liabilities $ 3,700 $ 3,700

Stock-based compensation (Table

Stock-based compensation (Tables)	3 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expenses	The Company recorded stock-based compensation expense in the condensed consolidated statement of operations and comprehensive loss for the periods presented as follows (in thousands): Three months ended (in thousands) 2024 2023 Cost of revenues $ 1,206 $ 924 Research and development 2,739 2,838 Selling, general and administrative 8,046 7,258 Total stock-based compensation expense $ 11,991 $ 11,020
Schedule of Nonvested Restricted Stock Units Activity	during the three months ended December 31, 2024 was as follows: (in thousands, except per share data) Shares Weighted average grant date fair value per share Nonvested shares at September 30, 2024 1,964 $ 32.13 Granted 1,016 47.34 Vested/Issued (224) 39.03 Forfeited (132) 31.82 Nonvested shares at December 31, 2024 2,624 $ 37.44
Schedule of Nonvested Performance-based Units Activity	A summary of the Company’s performance-based restricted stock units during the three months ended December 31, 2024 was as follows: (in thousands, except per share data) Shares Weighted average grant date fair value per share Nonvested shares at September 30, 2024 1,167 $ 27.01 Granted 1,298 47.85 Vested/Issued (312) 44.89 Forfeited (90) 20.83 Nonvested shares at December 31, 2024 2,063 $ 37.69
Schedule of Activity Under Option and Performance Stock Options	A summary of the Company’s stock option activity excluding the performance-based stock options during the three months ended December 31, 2024 was as follows: (in thousands, except per share data) Shares Weighted average exercise price per share Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2024 1,619 $ 24.51 4.27 $ 36,798 Forfeited (2) 41.64 — — Exercised (169) 17.41 — 4,881 Outstanding at December 31, 2024 1,447 $25.31 4.09 $ 33,816 Vested and exercisable at December 31, 2024 1,445 $ 25.19 4.09 $ 33,816 A summary of the Company’s performance-based stock option activity during the three months ended December 31, 2024 was as follows: (in thousands, except per share data) Shares Weighted average exercise price per share Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at September 30, 2024 273 $ 59.83 6.39 $ 1,042 Outstanding at December 31, 2024 273 $ 59.83 6.13 $ 1,139 Vested and exercisable at December 31, 2024 243 $ 63.36 5.99 $ 683
Summary of Stock Option Valuation Assumptions	The number of shares of the Company's common stock reserved for issuance under the 2018 Employee Stock Purchase Plan ("ESPP") at December 31, 2024 was as follows: (In thousands) Shares Outstanding at September 30, 2024 611 Additional shares authorized 249 Shares issued during the period — Outstanding at December 31, 2024 860

Net loss per share (Tables)

Net loss per share (Tables)	3 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Summary of Computation of the Company's Basic and Diluted Net Loss Per Share Attributable to Common Stockholders	The following table sets forth the computation of the Company’s basic and diluted net loss per share: Three months ended (in thousands, except per share data) 2024 2023 Numerator: Net loss $ (31,594) $ (43,008) Denominator: Weighted average shares used in computing net loss per share, basic and diluted 59,162 57,497 Net loss per share, basic and diluted $ (0.53) $ (0.75)
Summary of Calculation of Diluted Net Loss Per Share	The potentially dilutive common shares that were excluded from the calculation of diluted net loss per share because their effect would have been antidilutive for the periods presented are as follows: Three months ended December 31, (in thousands) 2024 2023 Shares subject to options (including performance options) to purchase common stock 1,719 2,253 Unvested restricted stock units and performance stock units 4,686 3,824 Shares subject to employee stock purchase plan 68 124 Total 6,474 6,201

Organization and description _2

Organization and description of business (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 1,273,502		$ 1,241,908
Net loss attributable to common stockholders	31,594	$ 43,008
Cash and cash equivalents	221,403		226,316
Short-term investments	$ 49,424		$ 50,083

Summary of significant accoun_4

Summary of significant accounting policies - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Accounting Policies [Abstract]
Cash and cash equivalents	$ 221,403	$ 226,316
Restricted cash, non-current	2,656	2,816
Total cash, cash equivalents and restricted cash	$ 224,059	$ 229,132	$ 269,116	$ 289,281

Summary of significant accoun_5

Summary of significant accounting policies - Narrative (Details) $ in Millions	Oct. 21, 2024 USD ($)
Accounting Policies [Abstract]
Liability related to the sale of future revenue	$ 15

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Contract with customer, asset, after allowance for credit loss	$ 1,837	$ 2,031
Contract with customer, liability	$ 1,381	$ 2,131

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized	$ 1.7	$ 1.3
Revenue, remaining performance obligation, amount	$ 8.1

Revenue - Geographic Region (De

Revenue - Geographic Region (Details) - USD ($) $ in Thousands		3 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenue	[1]	$ 88,713	$ 71,498
Americas
Segment Reporting Information [Line Items]
Revenue		53,709	43,959
EMEA
Segment Reporting Information [Line Items]
Revenue		28,304	21,220
APAC
Segment Reporting Information [Line Items]
Revenue		$ 6,700	$ 6,319
[1]During the three months ended December 31, 2024, and 2023, the Company had revenues from related parties in the amount of $4.0 million and $2.3 million, respectively.

Revenue - By Product (Details)

Revenue - By Product (Details) - USD ($) $ in Thousands		3 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenue	[1]	$ 88,713	$ 71,498
Synthetic genes
Segment Reporting Information [Line Items]
Revenue		26,485	19,726
Oligo pools
Segment Reporting Information [Line Items]
Revenue		5,094	4,189
DNA libraries
Segment Reporting Information [Line Items]
Revenue		2,794	2,939
Antibody discovery
Segment Reporting Information [Line Items]
Revenue		5,698	5,226
NGS tools
Segment Reporting Information [Line Items]
Revenue		$ 48,642	$ 39,418
[1]During the three months ended December 31, 2024, and 2023, the Company had revenues from related parties in the amount of $4.0 million and $2.3 million, respectively.

Revenue - By Industry (Details)

Revenue - By Industry (Details) - USD ($) $ in Thousands		3 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenue	[1]	$ 88,713	$ 71,498
Industrial chemicals/materials
Segment Reporting Information [Line Items]
Revenue		21,203	16,277
Academic research
Segment Reporting Information [Line Items]
Revenue		17,546	13,773
Healthcare
Segment Reporting Information [Line Items]
Revenue		49,369	40,881
Food/agricultural
Segment Reporting Information [Line Items]
Revenue		$ 595	$ 567
[1]During the three months ended December 31, 2024, and 2023, the Company had revenues from related parties in the amount of $4.0 million and $2.3 million, respectively.

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2024	Mar. 31, 2024	Sep. 30, 2024
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 221,403		$ 226,316
Short term investments, Amortized cost	49,371		49,964
Gross unrealized gains	53		119
Gross unrealized losses	0		0
U.S. government treasury bills	49,424		50,083
Equity securities, FV-NI, cost	1,525		1,525
Equity securities, FV-NI, unrealized gain	0	$ 0
Equity securities, FV-NI, unrealized loss	0	$ 0
Equity securities, FV-NI	1,525		1,525
Total cash, cash equivalents and investments, amortized cost	272,299		277,805
Cash, cash equivalents and investments, fair value	272,352		277,924
U.S. government treasury bills
Cash and Cash Equivalents [Line Items]
Short term investments, Amortized cost	49,371		49,964
Gross unrealized gains	53		119
Gross unrealized losses	0		0
U.S. government treasury bills	49,424		50,083
Cash
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	28,357		26,458
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 193,046		$ 199,858

Fair value measurement - Summar

Fair value measurement - Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Assets
U.S. government treasury bills	$ 49,424	$ 50,083
Total financial assets	242,470	249,941
U.S. government treasury bills
Assets
U.S. government treasury bills	49,424	50,083
Money market funds
Assets
Money market funds	193,046	199,858
Level 1
Assets
Total financial assets	242,470	249,941
Level 1 | U.S. government treasury bills
Assets
U.S. government treasury bills	49,424	50,083
Level 1 | Money market funds
Assets
Money market funds	193,046	199,858
Level 2
Assets
Total financial assets	0	0
Level 2 | U.S. government treasury bills
Assets
U.S. government treasury bills	0	0
Level 2 | Money market funds
Assets
Money market funds	0	0
Level 3
Assets
Total financial assets	0	0
Level 3 | U.S. government treasury bills
Assets
U.S. government treasury bills	0	0
Level 3 | Money market funds
Assets
Money market funds	$ 0	$ 0

Fair value measurement - Narrat

Fair value measurement - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability value	$ 1,500,000
Equity Method Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis, asset, impairment	0	$ 2,200,000	$ 0
Prepaid Expenses and Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest receivable	$ 1,400,000	$ 1,000,000

Balance sheet components - Narr

Balance sheet components - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Accounts receivable, allowance for credit loss	$ 700,000		$ 700,000
Other inventory, materials, supplies and merchandise under consignment, gross	0		$ 0
Depreciation	$ 6,100,000	$ 6,900,000

Balance sheet components - Inve

Balance sheet components - Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 16,031	$ 17,316
Work-in-process	2,637	2,146
Finished goods	4,850	4,616
Total inventories	$ 23,518	$ 24,078

Balance sheet components - Summ

Balance sheet components - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 182,057	$ 178,163
Less: Accumulated depreciation and amortization	(81,388)	(75,643)
Property and equipment, net	100,669	102,520
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	99,730	99,528
Furniture, fixtures and other equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,942	2,944
Vehicles
Property, Plant and Equipment [Line Items]
Property and equipment, gross	211	211
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,278	3,249
Computer software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,105	10,095
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	57,460	57,448
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 8,331	$ 4,688

Balance sheet components - Othe

Balance sheet components - Other current liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Income and other taxes payable	$ 3,267	$ 2,725
Contract liabilities	1,381	2,131
Other current liabilities	594	961
Other current liabilities	$ 5,242	$ 5,817

Goodwill and intangible asset_2

Goodwill and intangible assets - Summary of Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Goodwill [Roll Forward]
Balance at beginning of year	$ 85,811	$ 85,811
Balance at end of year	$ 85,811	$ 85,811

Goodwill and intangible asset_3

Goodwill and intangible assets - Intangible Assets Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 66,130	$ 19,630
Impairment	(35,864)
Accumulated amortization	(15,788)	(5,415)
Intangible assets, net	$ 14,478	$ 14,215
Developed Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average Amortization period in years	17 years	17 years
Gross carrying amount	$ 50,020	$ 19,120
Impairment	(25,198)
Accumulated amortization	(10,344)	(4,905)
Intangible assets, net	14,478	14,215
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	15,210	510
Impairment	(10,541)
Accumulated amortization	(4,669)	(510)
Intangible assets, net	0	$ 0
Tradenames & Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	900
Impairment	(125)
Accumulated amortization	(775)
Intangible assets, net	$ 0

Goodwill and intangible asset_4

Goodwill and intangible assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Total amortization expense related to intangible assets	$ 0.3	$ 1.3

Leases - Operating Leases On Ba

Leases - Operating Leases On Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Assets:
Operating lease right-of-use asset	$ 56,475	$ 58,829
Current liabilities:
Current portion of operating lease liability	15,030	14,805
Noncurrent liabilities:
Operating lease liabilities, net of current portion	$ 67,586	$ 70,221

Leases - Minimum Rental Payment

Leases - Minimum Rental Payments (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Leases [Abstract]
Remainder of 2025	$ 11,156
2026	13,885
2027	8,371
2028	8,471
2029	6,609
Thereafter	81,405
Total minimum lease payments	129,897
Less: imputed interest	(47,281)
Total operating lease liabilities	82,616
Less: current portion	(15,030)	$ (14,805)
Operating lease liabilities, net of current portion	$ 67,586	$ 70,221

Leases - Components of Lease Ex

Leases - Components of Lease Expense and Supplemental Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease costs	$ 3,738	$ 4,010
Variable lease costs	$ 1,920	$ 1,538
Lease weighted-average remaining lease term	15 years 2 months 12 days	15 years 3 months 18 days
Lease weighted average discount rate	6.50%	6.50%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Cash payments included in the measurement of operating lease liabilities	$ 3.7	$ 3.7

Related party transactions - (D

Related party transactions - (Details) - USD ($) $ in Thousands		3 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Related Party Transaction [Line Items]
Revenue	[1]	$ 88,713	$ 71,498
Raw materials purchased from related party investor			1,300
Accounts receivable, net		39,315		$ 34,903
Accounts payable		7,503		1,630
Related Party
Related Party Transaction [Line Items]
Revenue		4,000	$ 2,300
Accounts receivable, net		700		500
Accounts payable		$ 0		$ 0
[1]During the three months ended December 31, 2024, and 2023, the Company had revenues from related parties in the amount of $4.0 million and $2.3 million, respectively.

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax benefit	$ 97	$ 120

Common stock (Details)

Common stock (Details)	3 Months Ended
	Dec. 31, 2024 vote $ / shares	Sep. 30, 2024 $ / shares
Equity [Abstract]
Common stock, par value (in usd per share) | $ / shares	$ 0.00001	$ 0.00001
Number of votes per share | vote	1

Stock-based compensation - Expe

Stock-based compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 11,991	$ 11,020
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	1,206	924
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	2,739	2,838
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 8,046	$ 7,258

Stock-based compensation expens

Stock-based compensation expense - Activity Under The Equity Incentive Plans (Details) shares in Thousands	3 Months Ended
	Dec. 31, 2024 $ / shares shares
Restricted Stock Unit
Number of Shares
Beginning balance (in shares) | shares	1,964
Granted (in shares) | shares	1,016
Vested/Issued (in shares) | shares	(224)
Forfeited (in shares) | shares	(132)
Ending balance (in shares) | shares	2,624
Weighted average grant date fair value per share
Beginning balance (in usd per share) | $ / shares	$ 32.13
Granted (in usd per share) | $ / shares	47.34
Vested (in usd per share) | $ / shares	39.03
Forfeited (in usd per share) | $ / shares	31.82
Ending balance (in usd per share) | $ / shares	$ 37.44
Performance Stock Unit
Number of Shares
Beginning balance (in shares) | shares	1,167
Granted (in shares) | shares	1,298
Vested/Issued (in shares) | shares	(312)
Forfeited (in shares) | shares	(90)
Ending balance (in shares) | shares	2,063
Weighted average grant date fair value per share
Beginning balance (in usd per share) | $ / shares	$ 27.01
Granted (in usd per share) | $ / shares	47.85
Vested (in usd per share) | $ / shares	44.89
Forfeited (in usd per share) | $ / shares	20.83
Ending balance (in usd per share) | $ / shares	$ 37.69

Stock-based compensation - Narr

Stock-based compensation - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, options	$ 100,000
Stock based compensation expense	11,991,000	$ 11,020,000
Restricted Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, stock options	$ 91,700,000
Recognize cost weighted average period	3 years 1 month 6 days
Grant date fair value	$ 48,100,000
Performance Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, stock options	$ 66,400,000
Recognize cost weighted average period	2 years
Grant date fair value	$ 62,100,000
Performance Stock Unit | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of PSUs that may vest based on performance	0%
Performance Stock Unit | Minimum | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	10 months
Performance Stock Unit | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of PSUs that may vest based on performance	140%
Performance Stock Unit | Maximum | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	34 months
Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognize cost weighted average period	9 months 18 days
Performance Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognize cost weighted average period	3 months 18 days
Unrecognized compensation cost, options	$ 100,000
Performance Stock Options | Executive Officers and Senior Level Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vest outstanding (in shares)	30,000
Shares subject to options (including performance options) to purchase common stock | 2024 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 500,000
Shares subject to options (including performance options) to purchase common stock | 2018 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 0

Stock-based compensation expe_2

Stock-based compensation expense - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024
Shares
Beginning balance (in shares)	1,619
Forfeited (in shares)	(2)
Exercised (in shares)	(169)
Ending balance (in shares)	1,447	1,619
Number of options, Exercisable (in shares)	1,445
Weighted average exercise price per share
Beginning balance (in usd per share)	$ 24.51
Forfeited (in usd per share)	41.64
Exercised (in dollars per share)	17.41
Ending balance (in usd per share)	25.31	$ 24.51
Vested and exercisable (in usd per share)	$ 25.19
Weighted average remaining contractual term (years)
Outstanding	4 years 1 month 2 days	4 years 3 months 7 days
Weighted average remaining contractual term (years), Exercisable	4 years 1 month 2 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding beginning balance	$ 36,798
Exercised	4,881
Aggregate intrinsic value, outstanding ending balance	33,816	$ 36,798
Aggregate intrinsic value, Vested and exercisable	$ 33,816
Performance Stock Options
Shares
Beginning balance (in shares)	273
Ending balance (in shares)	273	273
Number of options, Exercisable (in shares)	243
Weighted average exercise price per share
Beginning balance (in usd per share)	$ 59.83
Ending balance (in usd per share)	59.83	$ 59.83
Vested and exercisable (in usd per share)	$ 63.36
Weighted average remaining contractual term (years)
Outstanding	6 years 1 month 17 days	6 years 4 months 20 days
Weighted average remaining contractual term (years), Exercisable	5 years 11 months 26 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding beginning balance	$ 1,042
Aggregate intrinsic value, outstanding ending balance	1,139	$ 1,042
Aggregate intrinsic value, Vested and exercisable	$ 683

Stock-based compensation - Rese

Stock-based compensation - Reserved For Issuance (Details) shares in Thousands	3 Months Ended
	Dec. 31, 2024 shares
Share-Based Compensation Arrangement By Share-based Payment Award, Outstanding [Roll Forward]
Beginning balance (in shares)	611
Additional shares authorized (in shares)	249
Shares issued during the period (in shares)	0
Ending balance (in shares)	860

Net loss per share - Computatio

Net loss per share - Computation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net loss	$ (31,594)	$ (43,008)
Denominator:
Weighted average shares used in computing net loss per share, basic (in shares)	59,162	57,497
Weighted average shares used in computing net loss per share, diluted (in shares)	59,162	57,497
Net loss per share attributable to common stockholders—basic (in usd per share)	$ (0.53)	$ (0.75)
Net loss per share attributable to common stockholders, diluted (in usd per share)	$ (0.53)	$ (0.75)

Net loss per share - Anti-dilut

Net loss per share - Anti-dilutive (Details) - shares shares in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	6,474	6,201
Shares subject to options (including performance options) to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	1,719	2,253
Unvested restricted stock units and performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	4,686	3,824
Shares subject to employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	68	124

Liability Related to the Sale_2

Liability Related to the Sales of Future Royalties - Narrative (Details) $ in Millions	Oct. 21, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liability related to the sale of future revenue	$ 15