Twist Bioscience Corp (NASDAQ:TWST) shares are trading higher after the company released first-quarter 2024 earnings and increased its FY24 revenue guidance.
The DNA synthesis company reported first-quarter sales of $71.5 million, up 32% Y/Y from $54.2 million a year ago, beating the consensus of $67.58 million and the management guidance of $67 million-$68 million.
The company reported an EPS loss of $(0.75), better than the consensus of $(0.78). For the quarter, the gross margin came in at 40.5%.
Total orders received for the first quarter of fiscal 2024 increased to $77.5 million compared to $64.7 million a year ago.
The company shipped products to 2,140 customers compared to approximately 2,060 customers a year ago. It shipped approximately 171,000 genes, up from 134,000 genes a year ago.
Guidance: Twist Bioscience expects fiscal year 2024 revenue of $288 million-$293 million, compared to the previous guidance of $285 million-$290 million and the consensus of $289.69 million.
Twist Bioscience expects second-quarter 2024 revenue of $70 million-$71 million, compared to a consensus of $70.09 million.
- The company forecasts SynBio revenue of approximately $28.5 million, NGS revenue of approximately $37 million-$38 million, and Biopharma revenue of approximately $4.5 million for the second quarter of 2024.
- Twist Bioscience sees second-quarter gross margin of 39%
Price Action: TWST shares are up 8.63% at $36.13 on the last check Friday.
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