TWST - Earnings call transcript Q1 2025 | Twist Bioscience Corporation

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Operator

Good day. Thank you for standing by. Welcome to Twist Biosciences 2025 First Quarter Financial Results Conference Call. [Operator Instructions] Please note that today's conference may be recorded. I would now like to turn the conference over to Angela Bitting, SVP of Corporate Affairs. Please go ahead.

Angela Bitting

operator. you, Thank everyone. Good morning, like Twist to XXXX joining would you quarter thank conference call for progress. Biosciences business fiscal results us to financial I and for review Xst our at release our issued market, is www.twistbioscience.com. With are call financial on press Dr. our We before at website results and the it the today me available Emily Twist; and and of Adam Twist, Co-Founder CEO Dr. Leproust, Laponis, of CFO and of President Twist. COO Finn, Patrick growth financial progress, Today, we opportunities. operational as well our will and as performance business discuss

for courtesy questions. The questions This X for call and ask on will that and in your the We being audio weeks. then call. limit We to archived website be will then the you open be recorded. the will is call requeue to Investors available X portion our only section as a others of

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

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

any matters periods Exchange this the our available and in earlier over Co-Founder, GAAP actual release fully forward-looking in regarding risks turn as Securities section as as measures and reported call Investors the now be and of may our with filings us accounting Information of to to prediction statements, include projected. on non-GAAP beliefs materialize, found and differently and non-GAAP These companies. financial included could that those in Commission. The materially that and We'll uncertainties discuss Emily subject data calculated our expectations are to from financial and cause actual a disclaim with those documents, Leproust. When hereof, forward website. With those today our a described statements the also I'll by update these accepted than we measure Our are based any law. the information more principles. other well which reconciliation press forward-looking conform we differ not not issued in results presented on adjusted financial that, can to set earnings date in obligation results as risks be except will be similar by required to may between CEO does EBITDA, generally the

Emily Leproust

good Angela, morning, everyone. and you, Thank

differentiated, our of wide report us pleased a cutting both sequential positions gross a progress yet breakthrough only that towards strong our our on success growth demonstrating to This to platform, incents innovation milestone EBITDA subsequent quarter in our are margin, revenue breakeven market not area powers growth. Driving another of business, the and of adjusted is adaptable. We and but scalable capitalize and is proprietary, opportunities. edge platform also unwavering

commitment of increase volume and million, expansion as at for ahead higher fiscal to across initiatives, Through margin in future. Getting promise. as sales breakeven Years quarter discipline year-over-year that platform while ago, education EBITDA invest revenue groups of another and initiatives. foundation to on continuous have the we the an proud and built continuing for margin guidance first leverage $XX.X profitability. ambitious And the to with for well product cost XX.X% remain clear are record of be guidance financials, the we reporting to company. of our revenue we the compared for quarter came the ongoing of capital sequentially. [indiscernible] demonstrating exceeded firmly the delivering XX.X% X% of to an our in Importantly, for fixed improvement across XXXX, the yet every path on course we margin our momentum our set we growth opportunities the today, adjusted profitable into as quarter Gross to and achieve XX%

an for quarter base. diverse XX% revenue the on increase $XX.X margin incremental average year-over-year drops line. of customer XX% another is Revenue million, XX% showing the a to gross reflecting growth this of group to deferral increased the that addition, global In of of with to SynBio

Express revenue sequential in in We see growth to our and portfolio, new number continue both accounts. of net

We fragments within days Clonal within portfolio and speed. majority with days Gene continue the full shipped our time genes shipped total of X from with to the Express benefiting this X push

continue customer Our deliver speed have health With and to reasonable their within cost, expand sustainability. inspired product drive the researchers innovations at a seen to ability to quickly across price, expanding from share existing and and by accounts. and we applications our also is globe new our our base wallet improve will be and

primarily biopsy For NGS, driven The we an rare continued liquid by $XX.X assets. reported million strength commercializing year-over-year. disease in and increase was XX% customers of revenue,

customers In our Twist [indiscernible] to applications is between our on emerging first addition, based applications during providing We workflow sequence human customers' reagents plus library biopsy and with a differentiated different different workflow with our this By products we liquid quarter, see of sequencing, other the as Twist we one from maintaining approach components, agnostic remain the all in [indiscernible] and our key health. partner and of conversion compatible addition sample very meaning in initial supply sequential the prep saw NGF our significant along uptake minimal approach, many sequences preference. for in disease. to

biopharma to Turning services.

remain fit orders our Bioforevices the ] [ our $X.X build. to strategic We as to of million, across $X.X Our continues and optimistic SynBio funnel revenue with cautiously of opportunities portfolio. leveraging By increased million.

continue valuable remain for partners. We to services delivering focused on our

call our commentary anthematic development to and the the for margin Patrick working Our like chemistry innovation. product. I with to now growth advance would scale to of data terabyte turn team DNA technology storage on on synthesize continues CMOS-based for chips water-based the over to

Patrick Finn

Emily. Thanks,

we look [indiscernible] fixed driven improvement our of at revenue while to growth, flat. margins, holding the see the by continue expenses we've improved a operating relatively we As majority

now implemented XXXX, With related to an automation, maintain those quality decreasing cost. We more we sample of pull-through allowed in we tips. seeing quarter calendar the a in as In processes. continue plastic the and sequential we our alternative addition, use X example significantly number technology In savings compatible end our extreme the identify while in large approach was areas gross trajectory. tips the year, processes implemented first positive of in margin of in are identified of with improvement new step our performance is a toward us COGS. to and an One our we to incremental that

Looking forward, maintaining add have product activities that we benefits. incrementally our improving margin we to a while pipeline the anticipate of gross will or

applying particular enzymology advantages or workflow their platform we as to future we've deliver driver innovative offer within for business. product our In identify a the proprietary that to When enzymes addition, optimize performance that talked specific about a application. for a growth

from internally developed leverage margin gross enzymes. expect these also We

and see portfolio used resulting implement screen, and to within synthesis our runway minimal significant optimize we leverage with current Importantly, and investment required our to offerings ROI. new significant future enzymes

As EBITDA shift to relentless to investing by financials. opportunities to in profitable will breakeven, this strategically call adjusted growth I'd achieving our we to cash flow our innovation seamlessly while discuss approach our momentum positivity, powered our like over time, Adam focus engine. At the maintaining turn

Adam Laponis

X% the million, $XX.X revenue and approximately million, revenue to increased [ than increase for the margin growth you, XX.X%, first $XX.X of of higher to volume on first of quarter sequentially. Patrick to leverage for increased and Gross ]. year-over-year. X% in increased came million Thank quarter an XX% Revenue year-over-year expected XXXX grew with approximately sequentially. growth primarily year-over-year revenue platform. SynBio our due and of NGS to XX% $XX.X XX%

our in revenue quarter, NGS top the serve of XXX having accounted NGS NGS approximately revenue. For products. customers quarter with XX XX% customers our XXX from We for the adopted

XX XX We with was $X.X of million, Biopharma, December had programs new quarter. of end the million. we the orders For started active and $X.X during as of revenue programs XXXX

million XXXX, approximately XX% increased period at fiscal revenue the year-over-year. EMEA Looking geographically, fiscal revenue million million revenue revenue the a growth continues of be million in of Americas first quarter X% in year-over-year. compared revenue the $XX.X of million relatively to $XX first rose same the of year-over-year. compared small in the increased quarter APAC for China our to in of $X.X period the to approximately quarter XX% to growth of the XXXX, period XXXX. X% in total in of $X.X $XX.X to million of first versus growth same first of $XX.X portion same fiscal fiscal XXXX, to quarter

P&L. the down Moving

the Our as to year-over-year. well growth gross XX.X%, versus of quarter improvement an X continuous first margin first strong as approximately revenues storage almost margin 'XX 'XX our quarter. our million XX% the for $XX.X compared approximately the the $XX.X points dropped improvements merit expenses line. to in revenue margin relatively reflecting as of revenue quarter while flat cash increased QX 'XX quarter same of XXXX. Operating FY to QX for well million growth increases balances. first of as gross expenses process fiscal compared XXXX, expenses, $X.X approximately holding FY period of were excluding annual includes million for the cost payment Operating with in data FY the included first of

Looking our at our path progress to profitability. on

For fiscal of we to the continues an loss XXXX. of of adjusted EBITDA XX. $XXX.X driving inclusive with $XXX as quarter the the quarter September million, flow XXXX, of improve $XX.X $XX.X a cash, quarter $XX of to was first million, cash are and short-term equivalents versus Cash adjusted operating million of the during first improvement We quarter approximately [indiscernible] million versus from approximately EBITDA investments million activities the fiscal breakeven. about and ended of the

to We're guidance million, the increasing XX% revenue our the from $XXX to of million, $XXX XXXX. We million up at $XXX growth are now increasing total for year-over-year. million $XXX midpoint fiscal approximately of indicating guide

XX% We million to $XXX approximately increasing XX% to are to million guidance growth $XXX SynBio revenue of year-over-year.

the are million, year-over-year. to We to approximately range top of growth of for NGS the XX% million to XX% revenue revenue of increasing guidance $XXX $XXX

guidance year-over-year. growth We XX% are biopharma approximately million, revenue $XX of to increasing

of XX% revenue approximately we $XX growth revenue XX% million to approximately growth fiscal of revenue to year-over-year. expect fiscal of to XX% to approximately XX% $XX million total QX million. year-over-year. $XX to approximately of XX% of versus For XX% QX of $X approximately of revenue $XX growth $XX.X of million XXXX. SynBio million million, $XX XXXX, million approximately Biopharma to to million, $X.X NGS

For gross improvements approximately of margin over gross quarterly XX%. the fiscal we margin full with sequential QX expect year XXXX in of fiscal XXXX, XX%

We to $XX EBITDA million million expect for XXXX. million $XX fiscal adjusted an approximately million $XX approximately versus to $XX of loss XXXX, improvement of fiscal

the call XXXX fiscal in approximately loss that, QX $XX back Emily. over million I'll quarters. With to turn expect We sequential with improvement to EBITDA subsequent be adjusted

Emily Leproust

that Adam. successful because these At Thank all the I things [indiscernible] talk what I environment. also to in about Twist, different. get you, market is this max difficult Twist love makes questions we

enable support not is our miniaturizes riveted strategic chemistry pioneering ] which factor, a to At the in scale success silicon technology, and a inesenthesis to Our necessary to billion date, and unparalleled us growth. and our invested create and combination innovations propel achievements we've the investments. but advantage current of and cost infrastructure on future groundbreaking giving single team [ core a $X than is industry. To more a chip platform

also launch Our not the foundation industrialize but scale. innovative at platform solutions to differentiated only to custom us empowers provides products,

Our to and innovation to impact. meaningful x shape We've relentless and channels, [indiscernible] efficient robust maximizing with ensure opportunity. mitigates [indiscernible] risk and established activity deep agility groups revenue market map and product market road and channels a excellence customer on customer resilience of understanding needs delivers a our efficiency embracing revenue sales which across By diversity to diversified and base. processes supply digitized a while and standardized operational chain. This scalable product our adaptive workflow well end that markets built and a for pays experience

complement group to focusing margin commercial continuous operations gross expand process thinking forward progress Our and improvements drive growth. capacity our on by

Importantly, incredible team. habit is our of the Twist

bring more. chemistry, legal, physics, hardware together engineering, human finance, chemical engineering, electrical employees biology, bioinfomatics, and discipline, diverse Our engineering, expertise engineering, from software resources development, silicon

overcome Our shared serving collaboration deliver and we that by mission buyers. interdiscininary customers vision our challenges and great deep fuels Guided our commitment continually improve and a health a products to sustainability. to

Looking remain possible. [indiscernible] our push to in ahead, mission steadfast we of the

creating discipline value move We elimination, will stakeholders. With responsible and continue a products profitable deliver to in growth, not in also building development are up we the innovating, a questions. committed we forward, let's and open investing Operator? adjusted that drive long-term call better and breakeven fiscally EBITDA future. At research our time, firmly but manner, only growing delivering Together, for to this achieving and growth.

Operator

coming question Matt of first Goldman with Our line Instructions] Sykes the Sachs. [Operator from

Matthew Sykes

year your you're mix and just for SymBio out, the made with seeing course of Maybe you've some the could to gene over talk just what in about And the genes? Express shift product, start the that are contribution progress towards specifically with expectations you makers? any of

Adam Laponis

for Matt, to this question. chat is Adam. Thanks about the Happy it.

I we're expressed also the hit Express on genes. portfolio. And what seeing think, longer We are gene just it, seeing, improvement sequential previously, it revenue as in not Express It's we've quarter-on-quarter. the is

us, from buying genes past we're or and someone Express. And is really to now they're from they thought buy fragment they're in where now us, might might IgG have or perhaps Clonal and so seeing what express genes buying

is that the are where expand so they express having but maker customers of only now previous they existing been to move really full And enabling not IgG. of with really offering our folks and have share a might us where gene a up buyer of IgG, wallet buyer

seeing we're the as So the coming in Express shift the for improvement that of new into we're continued offering. as number well seeing the customers business

Matthew Sykes

put view about of then just expansion? in Got the and gross given a EBITDA timing? you for And just of up adjusted profitability do plan what -- are in you've path adjusted in just When you it. of how that be on terms thinking follow-up, margin EBITDA terms revisiting terms the to

Adam Laponis

are Matt, we gross QX forward. of that sequential ahead talked margin being move then by to as improvements to And continuing great about question. the we march we've committed down path. being and And XX%

revenue of have additional OpEx can like line, things the may pretty not I in timeline, we've equity. our are north much we had gross of steadfast think that our and but -- we growth coupled expansion not years, last but market the where end on back margin that up, star and any we number and discipline you to with for in back going exact given the for in

Operator

Sergott Our of next Luke the line Barclays. question with coming from

Luke Sergott

first an XXX closed, than are you get less million on less one there's on they Canada, genes than I your Mexico Can your lot you a the this exposure lot less -- guys, thinking impacts I couple that loophole you're there. I and a about -- -- here. how hits being $XXX at some $XXX tariff like have than talk shipped chatter of million. of A assume potential on and about know

how frame that thinking about policy. So the just help with you guys are

Emily Leproust

Yes. you, Luke. Thank

to [indiscernible] that know. So set the the we facts

products $XXX. past, there's if coming And coming goods U.S., So like a but us what our tariff tariffs, is on directly -- not manufacture an you really and have XXX% but That the subject XX% will U.S.A. from It's from now additional that is comes to G&A the now the U.S. from competitors outside through package than removal on goods de in a of it that Canada is since we China. XX% have there that to the they in price was means means China. that's our of of said, that and minimis into where are there's the less same, you U.S. come for tariff our produced the the for is, it on products Mexico, in stayed a the rule worth

roots. to to China, tax have pay the close and minimis we'll without de X.X% from on was So the DNA that there before tax XX%

there tariffs. if a now China worth tariff was from on And $XXX, in competitor that a a they means it. package what that XX.X% so used was from there's And coming

We definitely products we'll better, that a So higher mentioned for headwind it our are win equity. faster, them. by before winning

And so it want important, DNA. we win terms so a them these And in in have think as leaving, and for with them. how will best for significant but Frankly, were Express. there's And class for when a customers is headwinds right? [indiscernible] customers we the price, headwind I much, questions me. buy speed that some X but significant, is of probably by , they be price to consideration for

far as Mexico as small far it's couple tariffs there no as very, the In terms in on are we limited tariffs, a Canada, Canadian retaliatory on And a very of exposure percent. retaliation, know, as DNA. slow we to have

DNA is Canadian So going tariff. into to Canada not a subject

for just the [indiscernible] our our that say, far and in economy, headwinds And for end as well closely. U.S., We the we're for would us, I are So follow flows there fine. is now fine again, potentially some headline, as At better. competition. the thanks will

win And winning. by so we'll

Operator

Our Guggenheim line next Subbu the of question coming Securities. with Nambi from

Subhalaxmi Nambi

this is, a to was for dynamic how of express stay X likely much term? fully then dynamic long I responsible follow-up. that better-than-expected My for margins, have is this the realizing And first

Unknown Executive

So we What a expresses to margins. what clearly gross it majority is think driver is revenue having continue the of contribution to I grow -- as and we're margin primarily said the we expansion. seeing the expand the that's revenue, of

the revenue the gross from at about it's average And driver of of independent expansion, side we dropping the on also when and SymBio of growth forward. the and the side initiatives Patti's process of improvement to to gross XX% Obviously, the the being equal. and it that it's we coming the moving so NGS whether to of the the talking margin, robust the talk margin that's sustainable business, some adding XX% about primary or about Express see are

we So are, we're we to it excited continue. about where expect and

Operator

Our question the of coming Catherine next Schulte. line from

Catherine Ramsey

on gross throughout that the you how tips Maybe throughout your you talk other projects could to mentioned margin for any benefit about? continue change planned could year to that in talk that year? like Can progression that topic. And margins much just fiscal around And the quarter? second that Patti just the process

Unknown Executive

activity talk on. then Patty some I'll operational the can to of maybe, that's start, and going

improve. We of expectations we guide quarter. expect And -- terms the mark the improve we to raised continue QX. with by midpoint for the XX% the In forecast to sequentially of be gross ahead margin gross sequentially and XX% revenue we expect expect to it, the to our of margin and our every to year,

opportunities year. of the the So talking benefit of Where the and we anything are QX improvement add? be that and performance, Patty's should think we expect of terms to in initiatives I think QX those the sequential the benefits some the continue into about the seeing you'd beyond. Patty, I throughout we rest of seeing

Patrick Finn

on continues activities. expand that that are was I'd It's say organization. the has been innovative All small, I to to well team across which the new margin opportunities is midsized -- enzymes, part bang on. gross spectacular thinking that expansion. we more of margin that improve, multiple can leverage to we're the our execute right, which to towards culture, some there's and about but including grow all, internally own and us mean, first for of continue help of get use products, our

Operator

And our line TD Brendan Smith Cowen. next question with coming from the of

Brendan Smith

question, a more because little of wanted I kind a perfect you lead my on to about into double-click That's production just talked proprietary ask just that actually all now. bit about enzyme the

and more few some potentially and to with improve Just wondering to if as internally can might you on specifically And of looking quarters. we as leverage I ongoing the better bit GM to maybe the out little understand next of [indiscernible] model to thoughts prime which expect that this processes could this those was apply this which we bit I'm might see timing try you -- more synergies see really from a just speak a just to extent the work? to guess we

Unknown Executive

Good mean a we're company. question. I throughput very, very high synthesis

And procedures internally the some so standard manufactured really that from will enzyme. there's benefit internally

supply In vertical addition, there and is been chain incredibly useful. security obviously,

out market driving into that new line We really our products also as see growth, customer well. leverage base to innovative sell the and top products

our all of guidance. In into really is timing, it baked terms

that and a future be I We've product that. So portfolio We're excited consistent that about would good with offering. we said, products of that got coming. think

Operator

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

Vijay Kumar

the guidance guide raise came and the there any the biopharma, having in at I performance, look QX, from more XX%, part just from I biopharma. sequential to dropped gross hard of question. margins revenues here sequential down mostly getting think sort beat guess, gross we're that quarter drove P&L-related time one, a question. I the were if had The NGS and think The when but even one-offs at XXX%, coming in you related XX% is SymBio and the I guidance,

be but from prior in and better -- anything why -- you AGS guidance. any is disclosing SymBio line with any gives customer that in stopped activity So know levels should your activity perhaps levels, perhaps I is a confidence you order

Unknown Executive

for of I'll on Vijay, hit thanks points, ask to I'll the jump but in. question. try others each the to

cost you was We there points with real accelerated along a of the see quarter, terms almost look nature. to improvement starting margin, improvements than revenue it, I we Nothing gross up. think onetime growth. we're benefits In is it's of And step in see as the of programs. to improvement When quarter-on-quarter. this the continue process roughly at -- continuous in the other X it the it, obviously, activate

more forward. say this quarter, sustainable. step-up of saw but moving that the I'd we expect should But was be outsized We it

it's see the in not but guide, on In terms what we business some while yes, of And of business. that in the the finding we're side of by orders opportunity. early the encouraged early we're -- progress, business. in did confidence revenue our the biopharma terms more also shoots see and products still just on still of We the is the definitely of side

think So later what year. side, SymBio I we're of is visibility the better And what up the the into the stepping we're quarters guidance. seeing that's

I and our less take guidance And guide, we're particularly were hold appropriately to as think visibility new some seeing the launches. we traction, adjusting as that things are we're initiated we innovation the accordingly. how of progressing, on had

across areas a X see to expect all sequential product of across quarters. the improvement continue in subsequent confidence of So to that and lot lines, we

Operator

Our with of Larew next the Blair. coming question William line Matt from

Matthew Larew

to get Express want I back to the portfolio.

year X launched starting you since -- genes. a Express X about now You're with little over year

have conversion Just sort offerings then maybe as to you've market win curious able sort wallet data in share with customers what been those of converting Express observed legacy your can you've were initial adopters. And new any that there's anything relative products out customers had a around or rate compare if come others? in launched response rate of for just so and retention to you since versus share you around obviously, couple points competitors early of customers or the

Emily Leproust

important so a the in what the great broadly year. the portfolio has it's says is for books Yes, been to end And we that it's will what question. the for products the make all that and is clear try to the definitely Matt, this. The industry. is is has that to [indiscernible] day, what The [indiscernible] it sure always in been at we than customer do, get had them, most the you, at record we case broadly told X thing those very and thing the Express our about, in we which he of start unsatisfaction, be not Thank on want experience more

So that's number one. It says what it does in the [indiscernible].

The second do Express. thing we is everything is

So line. capacity. is but those that not everything lifestyle really been it's because high. not express a just customer has for third we transaction really, of of skipping fraction the me -- is to that It's things, X that just are the small It's and leads the made to

margin to revenue all to to to quarter, cities, we ramp or were row net the for us pleased has year been able a many did And growth XX%, line XX% we quarters been our quarter-over-quarter going dropping this in was [indiscernible] and we're actually ramp gross has very and XX% that it for achieve hold to we gross customers. to of broad so margins, to were revenue new which X% don't of that this XX% but

a overall, So success. great

response, of terms release else. we competitor press saw everybody In the like

that the offers [indiscernible] their Express think we offerings changed. our differentiated. price offering in don't point capacity, of limited competitors But And before. was terms think had that the and I has

see frankly, really so don't them. we And

at in And the press So numbers their are when release. [indiscernible] end it the a day, same for we But of made as the the going earnings direction ours. probably report good study

Operator

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

Puneet Souda

Thanks for the here. questions

my backdrop of gross you for your overall NGS end is hearing guide, the mean, that liquid I important it the when look remains comments is about the to market I fair driver to didn't raise the growth the we raised. of you. top what question at you the appreciate it's And good but biopsy there, you're guide, the and improvement mean, the and margin from given see So growth more and customers. say that

at of and You the are pressure, end you -- why we about the markets under challenges the that you and have think mean, some market, narrowed [indiscernible] the How assets NGS you just there, And guide is the clean that thought should of fact just under elaborate on more bottom I Is just mean, backdrop we customers, already. it given -- tech of it? is divested guide the look diagnostic on the the which wondering, so when academic the biopharma bit the the there the guide? you in pressure, too. NGS early That's how Or little and be you there? in I to the could about context want is just given year? growth a in prudent Bio

Emily Leproust

exchange the I of the we've is million, which and in we future A received. I royalties saw quick don't of think think and feed the way biomasses, clarification. $XX half we it monetized -- so masons sold we

bit a was goal capital. we can and that add our that of make So of to presenting EBITDA sure little without breakeven action trading see

are uncertainty we to biopharma In the is look to always be believe few of want we you the we I back years, guide, of the in uncertainty. But some correct terms if that And there think last funding. prudent.

there. I don't highly thanks our I And are we've by have field over differentiated, really just done think think the it's accident. to well products We technology. year, that

any where there have our in opportunity technology to violent the well better. market the means a turbulance, we formation that in will plus So is market do do the commercial with and

our goes road have is going products viable we'll to topline. And with thing products and always able in done. as it's I to we the which We channels fundamentally, us now ramp And we for we we Again, low use be be to -- last exercise into that's to topline. And [indiscernible] gross very up. the ramp we I that margin So in do think are how this. structure. cost these great think our differentiation

the is our more frankly, So the winning goal of same do to, and use recently.

Operator

Our from line Schenkel with Wolfe of Research. the next Doug question coming

Douglas Schenkel

I quick. Just things want about talk real X to

establish get a potentially I which increased by I you is of we what penetrate XX% customer way in impressive. think metric I so, more capturing right? into track company metric the And like are things, opportunity gets at uncertainty, moving how you and you and is you number I'm think total your of that so-called a NIH I or wanted sub more something geopolitical getting in is multiple a customer. given of or thinking you accounts backdrop, guess lost there accounts. the And is, is, and maybe year-over-year, about that uncertainty, First, penetrating past. customers all each define is just in a the Are in after of those years bit to total the a you kind the I where possibility labs bars what customer second are thing capturing if of share itself beachhead. in than customers ask university the that deeply guidance number in deeply What within little that believe a to lost are the that different how around is guidance error that's in essentially face drawing sorts Is

Emily Leproust

question. Doug. Thanks, Great

one. the end will and cover question first Adam I'll So the second

is numbers, a more they're happening. stays of thinking of in commercial in take I'll That's number some But terms are reported same. Central. our terms customer. our example the our on exactly [indiscernible] progress Santo But you're and gaining what's the about the of back as results accounts, right. because in it In more labs we

the look and that sort right? revenue second of an account, applying that's it we a users from internally And at growth, is bringing new And so number accountant. is it's growth one within So way the one, important.

we but So are definitely that internally. that number reported, is not that something is tracking

to account possible. X One, get share. labs our how to more now things. quickly get on new more ones get we but on have products as particularly, as we we I then we and And from that [indiscernible] we in our each, on we and customers have said as the to delayed plan that's accounts, were auto [indiscernible] X through so us, think seen eloquently, wallet you lab, it penetrate buy want

Adam Laponis

of where it, take important customer it's our guidance step the think about portion discuss back think is a and mix. To to

building although is it, of guidance, of of we of XX% small business, is about element volume were fraction the extremely an the a the thinking is that is and of our business. Globally, we a U.S. when And and portion X we're the so academia in in things relatively important academics, our recognize only about

under what at we in looking where while funding, is so we're are see specifically, I'll to in the really uncertainty NIH, seeing very NIH-funded with that look activity. there well, we term we something some and and is said share uncertainty And at are I like an take it market indexed opportunity know as think we Emily short

on we given lower for And shots seeing more to and offer goal. the so opportunity higher therefore, an take opportunity actually we the opportunity are share price, speed, for at

a any won't we long-term science at of to you our uncertainty is offerings and vast guide, wide noise, customers see look stop, these us to think of and our share. opportunity but that spectrum our I as continue also the if from confidence in we'll share. So is type market array inherently take And protects a across times the of take some us insulates uncertain

any the well. be in respond we bullish also outlook, that if we've that things to recognize And got we're but week, to given so as to move, very on able

Operator

of from Our line Bank. Sung the Scotia Ji next coming Nam with question

Sung Ji Nam

Sorry there missed segment months? milestones if XX the for DNA anticipated XX specific it, to over are the storage I but next

Emily Leproust

Sung Thank the Ji, question. for Yes. you,

using that technical at related milestone are to the all being data able expected technology. [indiscernible] So our a terabyte to I scale

that there's doing components manner. So few that to and in a that

the definitely can is most X cheapest fit. first the So

technology the for skin. we're but the terabit now scale, in demonstrated we here So gigabyte the

to it Second business on the to developing chip. DNA aspect the build one, is method silicon enzymatic second

data in approach that We are to for do such be would an our chemistry need we synthesis, able enzymatic of storage, for [indiscernible] sit data but leader the gene center.

So there have a great progress And very is we're no fleability. doing making very, there, we that. on team the technology good

need But I'd those most say addition, the probably X we So instrument. milestones. [indiscernible] in prominent also of a

happens. So our chip on antimatic sits and hardware right where there where silicon chemistry the the

as rest that. you we've historically, make [indiscernible] it And ends do maybe is element needs so we've DNA a the we to need have of the for [indiscernible] done. That's the data, the operations, what last on there's build the our track of analysis yourself. [indiscernible] working then we we always where we're up do And that to you the have tumor better question the information, manufacturing [indiscernible] of is software And so And done it. the in. keep our the that

our system is component Our key of a [indiscernible] success.

And so the then we also those of X and integration have to work on hardware the ,chemistry, things [indiscernible] software. the

data hard do. And because just I'll the [indiscernible] discipline where sounds spending, faster, are you milestones. really are So the spend our to past thing last money, in point we more we it's If are daunting, we we those storage as know, -- invested. say -- there at were we are made hardening amount engineering in maybe It go is but some that -- don't are that. but projects is not in time you it's a the proportional progress

or have we storage, now But So of to not able to faster. are as as will as storage we use. capital we we decisions probably X spend data more decision the make. important we if could on make allocating do now, could to in money, management data the they much most And be right capital allocation

think is the do. And to decision is that -- right in There the means follower. fast but progress that fact. I no it's

think However, make what in I all, to all seen out that had need sure that's [indiscernible] we we

Operator

back I Emily Thank Q&A any you will closing Dr. our that for concludes turn remarks. to the over session. now Leproust call

Emily Leproust

questions to customers for about as shareholders. and today. value continue time equip ahead and for excited you your thoughtful our you. innovate, the drive Thank opportunities we We're and Thank

Operator

and you now does may Thank you call, conclude today's disconnect. today's conference. participation for This in your

Twist Bioscience (TWST) 3 Feb 252025 Q1 Earnings call transcript