Twist also launched two monkeypox synthetic DNA controls, which is intended for customers to use in the development of next-generation vaccines and field testing. Notably, Twist in collaboration with privately held "Biotia" received an expanded Emergency Use Authorization from the FDA of its SARS-CoV-2 Next-Generation Sequencing Assay that can identify new variations of Covid. Other products include Next-Generation Sequencing (NGS) tools that allow customers to work with diseases and viruses for research and in the development of new diagnostic tools. One example would be a biotech customer ordering synthetic genes for testing in an attempt to find an optimal sequence in drug development. A key operating metric is the number of genes shipped, referring to the manufactured synthetic DNA, each ordered through a customizable online process. The company shipped products to approximately 1,900 customers in Q3, versus 1,800 in the period last year, implying an expanding revenue per customer which provides some visibility to the forward outlook. The pace also accelerated during the quarter with sales up 17% over Q2.
Revenue reached $56.1 million, up 60% year-over-year. While higher spending and investments in support of growth explain the larger loss, the real story here is the strong operational momentum. Twist reported its fiscal Q3 results on August 5th with a net loss of $60.5 million or -$1.08 per share, compared to a loss of $40 million loss in the period last year. This article recaps recent developments including the latest quarterly report while we reaffirm our long-term bullish view for the stock. Indeed, the stock is off more than 50% from its 2021 high despite what has been overall strong operating momentum. While shares held onto a solid gain for much of 2021, the story since Q4 has been significant volatility amid the extreme market selloff, particularly in this segment of the high-growth, yet unprofitable tech companies. We last covered TWST with an article back in 2020, highlighting what was then a " breakout year" for the company in terms of showcasing its market potential. The applications here for this type of " engineered biology " cover everything from the diagnosis and treatment of disease in healthcare, genetically modified agriculture, high-tech materials production, and even working as a form of large data set storage. Through software, the process is capable of driving thousands of chemical reactions to write strands of DNA significantly more effectively than alternative methods. ( NASDAQ: TWST) commercializes a DNA synthesis platform that automates synthetic DNA production on a silicon chip. In the video below, the CEO of Twist Bioscience, Emily Leproust, explains the innovations in DNA synthesis technology.Twist Bioscience Corp. Twist Bioscience is able to produce 9,600 genes on a single silicon chip using its technology, compared to 1 gene being produced on the same amount of space using traditional DNA synthesis technologies. Throughput is greatly increased because semiconductor-based technology allows the chemical reactions necessary for DNA synthesis to be scaled down by a factor of 1,000,000. Twist Bioscience can achieve 1,000x improvements in DNA production density by scaling down from the traditional 96-well plate to tiny micro-wells and channels on a silicon chip of the same area. The company supplies DNA for research and commercial applications of genetic engineering and is developing additional markets for applications including digital data storage and DNA origami-based biomaterials and nanostructures.
Twist Bioscience was founded in 2013 by Emily Leproust to commercialize a high-throughput semiconductor-based DNA synthesis technology.
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