Twist Bioscience Posts Record Revenue, Swings to Profit in Q3

Twist Bioscience reported record revenue of $96.1 million for its fiscal third quarter ended 30 June, driven by stronger demand for next-generation sequencing (NGS) products and an expanded synthetic biology portfolio. The DNA-synthesis company posted adjusted earnings of –$0.13 per share and generated net income of $20.4 million, marking a return to profitability. Chief Executive Officer Emily Leproust said disciplined cost control and a robust balance sheet underpinned the quarter’s performance. Investors reacted cautiously, sending the shares about 5 percent lower in pre-market trading on Monday.