TWST - Earnings call transcript Q2 2021 | Twist Bioscience Corporation

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Welcome to Twist Bioscience Fiscal 2021 Second Quarter Financial Results Conference Call. At this time, all participants are in a listen-only. After the speakers' presentation, there will be a question and answer session. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to turn the conference call over to Jim Thorburn, Chief Financial Officer.

Jim Thorburn

operator. you, Thank everyone. Good afternoon, to today thank our for like business of XXXX all Twist Bioscience us progress. and for results review quarter joining conference second I'd financial you call fiscal to results financial website our our issue www.twistbioscience.com. did earlier afternoon, available at which this at is We on me is Dr. With call today's Emily Co-Founder and Leproust, Twist. CEO of with of our begin progress in will Emily recent a review Twist businesses. on financial and performance. I operational our will report discuss will Emily our and And upcoming direction. milestones

open then call for the questions. We will

be recorded. a available the archived this will is audio As website for be in being section will The our reminder, weeks. of Investors portion call and two

today's statements the of During will we laws. presentation, make within the securities federal forward-looking meaning U.S.

relate or the Forward-looking events or to operating statements performance. future financial generally future

available our call to as law. With of hereof. Leproust. by we the business over or required that, Emily Executive the at us our in could financial uncertainties any on disclaim risks And well are risks and and except the predict to and include the today more this actual full fully those Co-Founder, projected. press from this and now statements any forward-looking to cause issued to we obligation presentation periods in expectations date set time, impact regarding may with in in forth turn of will beliefs any resulting are based statements as not those as Commission. results cannot, Our extent We of subject information pandemic as that COVID Officer release economic to matters These The those filings these Dr. impact. differ the earlier results the materially forward-looking the update I and Chief materialize, described actual Exchange and Securities

Dr. Emily Leproust

Thank you, Jim, good everyone. afternoon, and

biopharma with quarter second we data strong order of business, four robust of our and growth across the all areas fiscal synbio, and reported progress storage. NGS, During revenue XXXX,

lab million we discovery, including we to see applications a synbio biopsy We both trends remain technologies, an liquid for NGS incredible XX% quarter excitement evolving, around editing, diversified and landscape disease, residual customer of new increase and industries. across second from single pandemic indicating the minimal customers drug after with of While coming significant of revenue, note, gene multiple $XX.X the receiving and for quarter, to middle synbio returning broad XXXX, over of accounted the genomic of no percentage revenue and MRD. grew an a strength. or our in vaccination the and the Of

over fiscal we million addition, XXXX. XX% XXXX, In quarter second an for remainder the of $XX.X a of reported strong increase the signal fiscal in orders, of

Now synthetic see I'd into million $XX base early increase ordering relevant synbio editing the Beginning business, customer for we we on four coming customer the access one-year details Gingko as in Gingko with continues remaining Twist, million happy their in for returning like IgGs. We with have revenue reps product gain biology, segments. as clonal Pools for to editing, for business. to we an mix. quarter the as diversifying and booked contract. Across our more fragments gene expand we a $X.X well our the are and at and continue the an important customer to business quarter, for in Oligo footprint revenue to million of orders our customers of We revenue in second very of in our of strong reported $XX.X more market. over dive the

but future, our of broad are we to will and our diversify simply some grow continues base ordering the they not in revenue account point quickly. because than As at for business, we less, increase to expect our of less near customers XX% continue it revenues the from because

support To only the year-to-date, make Portland revenue. are ramping XXXX. growth, our in our Factory of about our in the efforts fact, operational of In Future we account our to for X%

next it the believe buyers. products comes convert makers important need next D&A Factory of very Future a who online sensitive will quickly, year, avenue tap allow As an their to D&A we into into and us customers DNA to

addition, of provide In advance. the in to XX our we facility. And approximately for optionality manufacturing right exercised in other plan this additional support lines, further emerging with DNA to Made to to us of storage refusal XX approximately rapid to first our platform. space product double growth, including months Portland technology space out applications square build our or sensitive data for footage

competitive at Looking landscape. the

scale. success sensitive in to driving trying are at We

other seeing potential We entrants. are

enzymatic while when. to promise not way go still And some technology is if this about asked have scalable. you make specifically. And matter also of among less We there's believe expensive the long to a for commercially not synthesis companies it. do That's it a that of enzymatic synthesis genes,

address of gene what me in to NGS. I believe needs market our segments let and So synthetics company in successful be an enzymatic order

must perfect all of QC that significantly DNA be high-speed in be to the is To blocks even make DNA critical final importantly, For incorporates on quality control low-cost needing truly that able do there high because more a method onerous no the order. basis specific the are operational to for Indeed, quality This and needed a is of able building of screen industry. without Sandvik are biosecurity It customer be no to get NGS, rates to production the gene error than sequences. sets themselves. That's of with DNA. or tool there assemblies. organic delivering method be required be should gene ink sequence pieces and and synthetics the and long solvency green, a blocks remote. beginning should lower building and has It

And so won't ATBs care. local high-cost

that we applications term, in believe capability near sort serve. the of for the phosphide remains For classic that we a services

revenue targeted We quarter. NGS. order million and $XX.X genomics $XX reported the in to in for Turning million and

as to plays customer a NGS for several launched detect three solutions. We patterns continue with specific We work in methylation of that into with untapped system detection customers, believe announced including our number cancer. key potential key engagement to many wins. We It complete This an February to or are hearing together that results technology various customized customers. our can their will Geography NGS needs. increasing for our a products methylation adapting near sample specific from in And target solution logical be role with customers quickly inland offers end-to-end preparation workflow a we includes already, by for world their system processes, lab robust workflow. positive APAC.

robust most committed solutions to sample ensure the they to want inform. for are can they We developing that greater customers our the with run flexible

same advanced innovative with with having system of metadata partnerships engineering for our month for FabX assay. our with time, of supply watchmaker Same company collaboration for solutions new next-generation applications quarter, applications together at By anal partners mitigating from while to area for wide to due received telemed the chain sequencing to we applying FDA emergency our addition, library we with different use genomics. dependencies. NAB Genomics, customers In an preparation for the authorization

the and to the sequence the resources variance Our last the as determine sensitive genetic virus SARS-CoV-X. of to only reported ages entire bit RNA viral ability assay analyzes presence has detect enhance in well of sequence of to as the

be centers to and some believe believe time. are we would accumulate, XX the our remain clients important note. us into customers it continues And will track as variants we pandemic, the SARS-CoV-X for we very routine While enable clinical with months to new to

learned for organization receiving and relationships by an product as Twist our management authorization the development and with that great, validating building a great we opine across our deal them businesses. system guide Importantly,

to Revenue first Africa. in from controls, additional often We several material of Brazil to and Twist not return also variants products, South of consistent control, custom COVID panels. launched coming new to entities are new NGS has buy been controls XX% from while buy and

new So customer this source is great a of force.

Accelerator programs We million revenue. Curing project. announced of multiple in well the partnerships recognize as Revenue have at Innovative over only $X.X order with ongoing Twist. now or and we reported many we we includes Stanford fees partners, upfront portion each of partnerships of in associated Medicines revenue biopharma, And as the whom Biology. Pure with $X.X For have XX million license our and course as a

the XX in on which milestones An A for nine the significant this compounds programs, published of for quarter. our accomplishment with royalties associated paper active We in first XX has Twist-generated are of customers. bioformating. advancing programs are now GLP-XR hands and year we additional and the complete Thirdly, them. our

our of power XX to as in as well for agonist indications. you positive many As from high-affinity demonstrated generate our the to GP go range identified demonstrate our library. antibody, This for target. preclinical compound data GLP-XR a antibody panel details antibodies GPCR antibodies first MR of And are know, of wide a GLP-XR of this was we proof concept clinical from And our generated antagonist TBXX-X. results an The libraries our potent is the we targeting publication a hard advent biopharma vertical. of targets internal

antibodies For proliferation ADRAXA, tested our volume humanized in a tumor our increased that tumor been have T a decreased. found model. result, as cell in and tumor the We

as We advance multiple stage with multiple in path partners compound as in a are are out-licensing. working own for Twist many eager our this to trial We're ready clinical see antibodies selecting forward. to and programs through pursuing well preclinical

to and five have Bio. antibody libraries and with with In both Bio make each Twist a ongoing. developed robust back partners optimization the created We our before libraries exercised internal now benefit antibody collaboration library working with we We XXXX GPCR platform discovery month many began using to purchase rights in Biopharma efforts. both existed. silicon-based have Distributed to options our quarter, in shots and library our to software, of Distributed our our We four all

Moving to storage. data

engineering the make hand. quarter our to progress micron road We in chip that solid $XXX continue We shared had we map, towards terabyte. on last driving X per

wells further quarter, DNA days in is accomplishment data micron storage. our a our to synthesize X derisk on oligonucleotide was significant this engineering XXX and able XXX-nanometer This chip. approach team This in

the is Storage strong. on more micron density. do truly still While is and remain continued work to now advance, members we chip, and XX encouraged an in Data is for increased there this The exciting X alliance engaged D&A drive the

white on as opportunities DNA ahead. as be And a soon, we'll Storage releasing state of pepper the well Data

several we method users of data storage, first, an alternative to of are with factors here: appreciation As growing for talk the storage. potential

ready will data to be to DNA to and the for the And Second, visionary review that TV studies archives. be ensure ones initially, data Working storage This we is many our opportunities large a followed. production Jim reasons will and like turn DNA other the the At call market financial industrial regulatory of the quarter. this application results unmet time, I'd current cultural first the solutions storage found required to storage storage. to very be nurture are leaders when data through as we over And quickly supplemental for system is that pilot movie preservation, IT third, conduct all capabilities. will alliance, used will including available. a

Jim Thorburn

All right. Emily. you, Thank

were for As XX% million quarter and and continue year-over-year power prove to very Revenue for year-over-year, the Emily approximately with margin And million short-term XX%. we sequentially million. shipped X,XXX the and up we and the robust was and we noted, customers XX% quarter X,XXX the XX%. approximately the sequentially Gross Orders out $XX.X cash quarter. platform concluded was had $XX.X quarter quarter to up in by $XXX investments And second customers of XX%. year-to-date. another

increasing orders applications. quarter I'll and Now quarter year-on-year with XXXX, reflects in the second NGS growth, compared our which orders the million XX, were details to for NGS XX% as $XX.X December $XX.X number more million for the provide a second increased on adoption of ended quarter.

During NGS XX accounts from customers the placed $X the we top with also of million. quarter, received and approximately orders XXX approximately customers orders

quarter. to continue last from XXX and our XXX we call. continues accounts expand that's larger tracking opportunities our scale XX As customer adopted of accounts, have pipeline on platform XX% we increase our last from noted our footprint, our to the and up breadth an we're now for earnings

Now turning to synbio.

Ginkgo, genes, the that's the pools quarter. libraries DNA to and up all $XX.X from Our IgG, quarter, includes increased million million in March second in XXXX synbio preps, orders, and which good $XX.X

growth, year-over-year continue continues to market $XX.X business sequential to penetrating and our thus highlights the non-Ginkgo scale to rose and approximately representing orders XX% of and synbio growth which million in XX% we portfolio. progress make and expanding Our

discovery genes directly with to in activities. partners active a $X.X quarter fluctuate the up summary, Our for Ginkgo genes as continues grew quarter. and total million genes business into from trend million with previous with NGS and/or academic have million quarter orders the to and pharma, X, both orders segments of segments. strong our each million Pools demand for our in $X.X XX approximately orders largely quarterly orders with again noted pickup we line but industrial and Non-game as million, in $XX.X orders to from the XX We gene applications. a provide from product we royalties. And in in Biopharma Oligo $XX.X $XX.X quarter rose and including the the academic that's have were key segment the programs therapy revenue, growth, XX be order antibody In $X.X contributing translate anticipate to million for milestones not strong group. which to will quarter-to-quarter. earlier, provide coming

of climbed Now Year-over-year for let XX%. in revenue $X.X And revenue the a XX%. and XX% me the sequentially million and XXX% $XX compared approximately NGS increased same quarter. cover growth for is as to the growth million, was a growth prior product for of million to revenue $XX.X that's year. quarter, year-over-year the to sequential quarter

outlook sequentially was and Ginkgo of revenue QX essentially QX $XX FY for was our the previous million $X.X million for the with the for flat in QX quarter $X.X and Ginkgo revenue million million, $XX from also up the increase product flat 'XX. same was synbio as an $XX.X and 'XX. revenue million genes from that's $XX.X in $XX our revenue million quarter million and last remains FY year. Our guidance with QX to quarter fiscal

the launched we quarter, was gene XX,XXX shipped quarter, in quarter compared in with genes the compared revenue, $X.X excluding Genes in million genes our During year. and in services activities, quarter high million, project success December the on our that the previous fragments in approximately to is last Biopharma, Ginkgo, and the the reflecting $X.X as purification. quarter XX,XXX including in were upfront growth which clonal-ready our million XXXX. of revenue discovery to antibody IgG reflects planning as $X.X screening same the throughput

year, approximately strong Now of our quarter same $X.X rebound to a $XX.X period revenue Americas million was with the quickly two last and Asia EMEA continues touching APAC for million worldwide $XX.X million revenue in now to and million, compared strongly million accounts revenue for last on $X.X as versus seeing year. versus the same business. EMEA XX% the was in grow of $XX million year. this period $X.X regions. we're

million of is our largest million $XX.X In revenue XX% X. Industrial with and was in QX health FY terms revenue now that's in was $X.X year. fiscal in QX segments, Chemicals QX of in QX care segment Academic to million last $X.X of accounts business million in quarter our a And $X.X versus for 'XX. compared million versus $X.X $X.X million.

quarter. we As this order academic pickup saw we noted strong earlier, in the sector

Now products. scaling fixed $XX.X or mix last to NGS two costs moving Gross was our benefit down as to margin increase P&L. the revenue, reflects of impact This year. our higher in million revenue of leveraging XX% in the of of XX% quarter and margin compared

FY Our million increased in quarter quarter quarter operating FY of for $XX.X expenses, quarter one second $XX.X and cost 'XX of million excluding the for in of the million. R&D 'XX. the revenues was million, second compared to to $XX.X the approximately $XX

this one $X.X or had to in Major and our in spend via commercial pharma IARPA million million year, reminder, $X.X $XX.X million investment investment increased R&D contributors of offset increased organization. to and comp due program. in a and $X.X increased storage, we the quarter million data higher $X.X for core investment our confidential by million. year-over-year the of to Just primarily R&D quarter that's and in million stock-based $XX.X X, SG&A from growth

update million approximately uncertainty at total And brings time, the with $XX ended million, stock-based start the navigated this, CapEx we're the $XX.X supplier operations products. QX was approximately primarily the in million non-Ginkgo to very pandemic. approximately from concern. stock-based approximately and million increase to 'XX. from to although was be that's guidance million. many $X.X of an I'll our $XXX operations to compensation. growth have through experiencing million. approximately the be biopharma to one We're from $XX We've briefly CapEx for $XX million and actively we successfully which be million million from $X revenue with year-to-date the due to for million; to same in $XX loss although estimated seen million quarter does it strong had our 'XX. estimated fiscal to remains $XX and from $X.X the $XX.X $XXX our the $XXX to million year we $XXX to year and Note comp to We increasing $XX headwinds revenue key mitigate to for fiscal investments a quarter guidance of is quarter. remain loss million in a We first quarter, depreciation. guidance million; pandemic, are robust for synbio million financial working estimated million there of includes Our challenges in cash million; in a to fiscal for prior $XX $XX million. and associated NGS short-term the an orders $XXX quarter, the provide And Ginkgo of

margin gross to XX% Our $XXX and now the R&D SG&A to which to in support our R&D for includes in XX% a is and in range XX% for the higher be compared as approximately investment last guidance. year is to growth Operating which prior charges be marketing million XX% stock-based as $XXX to space expected expense and comp in our compared and 'XX. sales guidance, reflects our FY organizations to million to year

due in our $XX and from last guidance in is investments. R&D and storage Our $XX guidance, up biopharma approximately that's investment to million data for the million year additional

included for CapEx which and equipment expanded, we're for we the our plan. approximately $XX being Portland in with the in of up original million, from included increased year orders is is guidance solid ahead half to In customer $XX fiscal first to placing is Due is expansion. for depreciation million, that's million, which We're million year. million. $XXX $XX the our comp, enjoying base. range stock-based to million. and be million loss net $XX our demand $XX lead And CapEx 'XX, to expected Our from summary, of $XXX year broad the includes times a for is

continue I'll and to Our new as platform investing in well back call with to our products received, And into the being that, we tap revenue are now Emily. turn streams. new we're

Dr. Emily Leproust

in half reported we fiscal Thank In half heading first of into year. the of conclusion, you, second momentum million Jim. the the in with year, $XX almost strong our revenue

synbio, continued ready expect diversification as for prep commercial clonal production forward, of we well revenue for and growth Looking as friends our continued stream, DNA ramp IgG. for and gene ramp

We our BXB platform multi-sized specific of software growth beyond. and in strong XXXX capture factory to also for us preparation institutions expect a the ongoing the to to and future an our of solutions and enable rollout allow infrastructure of

and For growth NGS, to technical impact and we conversion expect continued continued The ramping customer addition of of mine production. near queries Twist sequencing. revenue

milestones partnerships find add intend For biopharma, we royalties. to the with and programs additional and majority generating

we addition, antibodies XXXX. pipeline out-licensing pursue opportunities need advance and of will first In targeting internal program that out-licensing our continue our to

we road market contract for will medium. execute to to Operator? map the new engineering drive our adoption continue the open this ease, for way let's For call IARPA our up questions. With of the that, on third paved storage and maturization

Operator

first coming from our question Cowen. And is of the line Doug Schenkel Instructions] with [Operator

Your line is open.

Eleni Apostolatos

be complementary attractive? level, and not oligos competitive for landscape, the a or the synthesis. are then market of that positioning a Doug. emerging how specifically, view at a above for and was distributed a higher you What seem concept into and model on question. are And have Eleni And it? are one taking follow-up the ask they is the competitive of will distributed more number that? This of be I is model There I to for companies your is gene

Dr. Emily Leproust

of Thank synbio. adjacent that are a be now, question. market enough distributed because synthesis quality for to model the you. there the us is in gene the just and That's we great not Right markets that serve is to

we kind our comparison, the time, people very very of $X.XX per instance, the customers so a different base point high chemistry, platform they the the our is hear want make in they we on offering. our we'll can at with demand We better have the at so we was But be low equity, quite site it want for that oligo our while we're website, market. if in, there we make an to have to don't deliver as high And XXX well don't on have, D&A oligo goes to up hear our extremely a already model same that to lands. a is can very then So to product you deploy And to at buy from this equity, see demand we the What chemistry. distributed sales, we happy for what And is and $XX the that. arrivals we from agnostic want want price, they we're and think it platforms. custom.

Eleni Apostolatos

Or helpful. that very in like That's something a is I've And of markets else margin, a question on for gross upside share QX? my the increase The there guidance. higher due driving there? the NGS is follow-up, to

Jim Thorburn

Yes. million. increase our the to is guidance higher $XXX $XXX plus. of from to we've gross to overall $XXX increased million million margin share We've up in $XXX million No, NGS a -- drawn guidance

leveraging So fixed our cost. we're

increased plus of revenue a combination the higher NGS. it's So

Operator

the is question of line from next with coming Our Catherine Bard. Schulte

open. is line Your

Thomas Peterson

on This Catherine. for Tom is

saw sort seems sense the quarter. from customer. in if out have lagged First here? improved. to activity given heard has But a standpoint of any get rather one here, specifically, wanted academic trends like the for just call from on dynamics what than order recovery we've And core you touch then a geographic levels U.S. It there's to to

Jim Thorburn

little bit the a with to if I was question. go The started interesting. in quarter weaker. So starting. January vaccine roll, the we were January I good back dynamics mean, off just

year. very almost so sector Revenue strong. previous Xx good saw we Asia. we We from progressed, saw or Europe quarter recover Xx had quarter in orders, the trends. significantly academic is As million, up $X.X so last increasing was a by

by obviously in all are regions. well received The well doing products being customers. we're So

of actually number X,XXX. customers increased to a So

We've So the million were the doing up. highlights seen base grown. Ginkgo year, was well. was was noticeable, bookings, $XX increase has we're customer care well, excluding just over in doing our steady Health And extremely the business. in biotech over portfolio. which last Industrial bookings strength it of

So continue to out we platform. broaden the

Thomas Peterson

And partnership additional Great. the expectations some seems funnel biopharma around on color I like is as the appreciate a strong. follow-up.

Just sense expectations and want of to get a for kind lines budgets. time development as to

Just those of of fairly those biopharma point at any uncertainty operating is this at normal, consistent wondering point? be If are sort to a COVID new if in in sort budgets locked expect this to and fairly you would

Dr. Emily Leproust

budget You're for asking customers? in or how terms of budget spending our

Thomas Peterson

Yes. budgets customer sort spending The as their lines. as time well of development

Dr. Emily Leproust

Yes.

both in the a quarters, that last big antibody push the covering area made in and partners. team that optimizing few is for So biopharma, biopharma them we with

number is partners made growing the see so that product. then launching the You synbio a growing, our of well. program by And of that's been can going IgG on number push we also

for it's fast. useful really so were we doing been in COVID whether cover useful it that this we targets, drug to program it's show did we own because society, pretty we're able our very to So bad do against against hard discovery to can COVID. And pharma. us, said been I in has well can not but only we

must that in strong, so basically, for is with And and really they need. biopharma the we they line what only now

more very say the is very And so the headwind. we is of our tailwind strong. than actually a funnel it response can And to

Operator

Peterson line Our of JP next from coming Tycho Morgan. is with question the

open. is line Your

Casey Woodring

upside markets guidance Can how is elaborate any Tycho. the raised full your then a on NGS This I academic year from -- for NGS And bit know during as there maybe you given is but commentary? guys rebound to you the upside serve guidance, Casey for there that can academic recovery? little on numbers?

Jim Thorburn

upped it in NGS. Yes. The say, first a good in We've feel strong us in where half on we're impact terms did academic working good And we're up. at, NGS. a that's sector But in We there. terms orders, for our well we terms with synbio. which half, out break in see short in of although broad one pickup customer not indicator of would NGS, even is pick terms bullish of of the positioning product a good in second we we early significant up it's but off constrained drop the is term. The I a last supplier adoption. and of in increasing business. the be the we base guidance didn't in of providing with And though terms have large strong his continue by, terms recovery optimistic very And product of of us don't that of we over good take we number in of is I to as with the believe it orders And working relates mean, again. accounts -- academic increased academic to significant -- Most roughly XX% where can terms as the very year, news

you increased 'XX. positioning growth in we -- as our We an Portland, are anticipation in saw, 'XX, us for of investment probably strong that's and

Casey Woodring

previously really And about material then maybe how Got you. just you've talked to the business. COVID -- isn't

new research forth? variance into so just changed the regarding I'm if and spread variance things their So wondering

Dr. Emily Leproust

you. Thank Yes.

So the We're of variants.

we edges. COVID may understand first to test to and ago, sequence virus now NGS you for a to remember, we launched year As variants order our read March, the enable like detect in in the scientists order in to entire

a anticipated the ago also variants had be we year important. that So will

then against those of our customers items. tested the we entirety available side, variants help now -- And we have the variant study potency is website. variants we're top XX think variants. have we've on than of new positive to I in the ability tools our Significantly, the launched different our have depiction to controls on more of and offering emerged, mind. against And and As

Operator

Our Kumar coming line from the next with of question Evercore. Vijay is

open. Your is line

Vijay Kumar

that Jim, supply print, another on is being mentioned, headwind the that guess, guide would the I Congrats baked the a headwind asking to in had here. guidance? supply the good three questions. higher? I you the revenue question without way,

Jim Thorburn

supplier. into questions. headwind love your is We're the guidance. supply Yes, baked I the with the Vijay, working

with first had And relationship a week give to call. supplier next a good on really a have and very working our strong an earnings update week, we'll we We this We're half.

work So anticipating increase inventory seeing supply I the out. resolving we're growing give -- we We our update we an rapidly next And as And as it, demand, did it bake are, the issues. did guidance. and over on we'll significant we've we'll in it when mean, earnings we're increase into last as we year. been It's work just call. the in

Vijay Kumar

your to any quantify, Any, way I at Jim, end I'm guidance. looking guess, US

annual end. You guys did The about high half. the at first guide XXX% growth for

think it's taking I growth. a XX%

perhaps, it's to hitting anybody the that on in is point you fire? where side of So guys NGS

Jim Thorburn

NGS Yes. side, that the do on there. wanted I guidance, have mean is impacting it's And it we we we note NGS to although did a side. headwind increase -- the on

will update And posted. call, an give we're mean I it. keep obviously resolve the next working to earnings on We we'll you

Vijay Kumar

And Emily, part. you. Got missed the for one I then you.

I think terms where reached comments are on you goal. milestone. you we an of it the in simplify having end data important storage, made towards some if Maybe just could

that in update? would could If be had you out, cost to certain to what are where get metrics the journey you and to think guys I we flesh this helpful. that was

Dr. Emily Leproust

to Yes. do it, Yes, happy Vijay.

price the goal a point per remember to So as $XXX get is terabit. you of to

to And make do we the able be so silicon. that, at the XXX-micron of to need to dimension DNA

we were misspoke. thing X to let And And XX Last one just micron. get are we The to rephrase me so that on now, shrink proved to XX right I at our working able we And is micron to XXX-nanometer. year, we down platform chip. microns. goal started the

So we to go XXX-nanometer. want to

now, we've from right gone to XX-micron So XX-micron.

milestones that oligos X-micron to were base pair we on this chip able in is XXX the have We achieved quarter synthesize that chip. the And we hand.

And looks each from The away X what on so are like. is to features few nanometers. features pitch the micron micron. a X is that And words of maybe ship XXX other the the dimension

longer believe So feature it get is was we so there. ever. the the achievement silicon of quite are made to -- and DNA an smaller that on We

definitely it's So a edge. leading

cost. X oligos are to But build microns. make pair our definitely speed to not to is with micron that a going a more mixed quality be get next are base. are XXX huge synthesis, do, we to there Once experiments finished and to have to Next to done XXX us reach chip around would with able few So be and more base we the a for ship, and design few we us step of micron the X milestone we with need chip

are we So forward. for XXX it's very not goal yet strong definitely step another -- at very the but a

Operator

SVB Our the next Puneet question of coming is line Souda Leerink. with from

Your line is open.

Puneet Souda

bit. question, was briefly a this covered little maybe First

anything that the you provide terms application? is a is In contribution sense the that you NGS of driven? NGS trying liquid the in that provide to biopsy just guidance largely there was you the headwind of other of customer the And can raise. Can or just have on get despite type in -- that here,

Jim Thorburn

the question to trying here. just summarize So

$XX increased million to million So guidance, NGS from in up up terms to million of -- it $XXX to approximately $XX million. million, $XXX $XXX to so $XXX we'll compared increase -- last frame to $XX guidance, We $XX let to million. XXX quarter's million me million to

So we'll our now with, of included nice . in XXX strong NGS resolving don't partner, the trends has we've In having strong in it seeing year. it's the at We're very recognizing And of believe and adopted we're working of that terms we XX next We're week-to-week give have So well we're of number the that across highlight seeing but the We've working our the with strong experiencing issue. customers really XX% And are an through working or dealing into that. a trends we're Puneet, again. we on And good, biopsy, second seeing growth. with liquid earnings been We're large guidance terms headwind, just rebound, increased about update positioned that. for really But is orders. businesses. I would call. it's half had break on We to on which we out segment roughly And this up the academic see all impacted. in

increase future. probably we our CapEx of year. the as for saw we in in expansion saw you cost up Portland option that, increased for Portland, that we a And In the ramping our anticipation in year. addition to did very footprint That's next

Puneet Souda

Okay. very That's helpful.

of in biopsy. are the that liquid assays In used terms

of you be those and get Any a enrolled is is expect terms that And number to think -- assays, get I a getting helpful. into into super order term And In of potentially generally, are in where commercialized. what's get involved trials? biopharma could would discovery, of they near here indications into here you will any any those be longer headed? in ask specked getting in that these also, initial wanted to trial? reach the -- trials sort Just as any getting in the Obviously, of do your I effect on to there, are larger assays if trial there term, you front, early Phase you confident if essentially into trend larger trials increasing sort updates the as outsourcing expectation How then also

Dr. Emily Leproust

you, Thank Puneet. Yes.

by question Yes. So on last the maybe biopharma. starting

cover -- very is interest it's are that big there on in our biopharma antibodies is offer and on for around funnel an Our derived even what is simply strong one. this we day human clear optimization because

As far into the in out hands, that we mentioned a main will antibody programs that our the on we partners to And meaning timing as charge when now timing. go swift don't on partner have clear that. do are We of of that call clinic? that our is have first the the that because filing

be be the a And will is so it's just time our exciting. a partners question doing to this of antibody clear, until work. But

can number can share of validating But customers launch. mentioned publicly of in can't We are our in that after not have revenues companies coming their In those have we won the We only evaluating keep talk quarter assay Twist bake-offs. their the liquid discuss fair biopsy of product do in of we than work anticipation billing about And that more quarter-over-quarter terms to commercial the exclusively. a that we mentioned see burning DNA were GRAIL liquid using definitely liquid because other with. past, biopsy are we question, in of products. they -- the source

of that's So to NGS because go why we're that ramp. get prospect quite revenue LT bullish products pipeline as commercial, on enable the those continued us should long-term

Operator

turn questions to the closing to over time. any remarks. Leproust call not I I'm Emily like back showing further now any would this for at

Dr. Emily Leproust

much, very you operator. Thank

we a into year. products moving with We first had see half of momentum strong the we've our relate year that very of customers. our So our with the fiscal remainder

continue to expand. addressable Our markets

team today. We sharing very for place to have months aggressively. execute your move much ahead. accountable hold thank to our in We And to the you like with in to you drive we innovation, time and the I'd progress forward ourselves

Operator

conclude Ladies Thank your our that does for you and for conference gentlemen, today. participation.

You disconnect. may now

Twist Bioscience (TWST) 8 May 212021 Q2 Earnings call transcript