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Twist Bioscience Corporation (TWST-8.19%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a revenue increase of 24% to $88.7 million compared to $71.5 million in the same quarter the previous year. This growth was driven by higher sales in NGS tools and synthetic genes.
The company's gross margin improved to 48.3% from 40.5%, attributed to increased revenue and the distribution of fixed costs over a larger revenue base.
Twist Bioscience reported a net loss of $31.6 million for the quarter, a decrease from the $43.0 million loss in the previous year. The net loss per share decreased to $0.53 from $0.75.
Operating expenses included $21.3 million in research and development, down 8% from the previous year, and $56.2 million in selling, general, and administrative expenses, up 6%.
The company had cash and cash equivalents of $221.4 million and short-term investments of $49.4 million as of December 31, 2024.
Twist Bioscience's operating activities used $21.4 million in cash during the quarter, primarily due to a net loss adjusted for non-cash items and changes in operating assets and liabilities.
The company executed a Royalty Purchase Agreement with XOMA (US) LLC, receiving $15.0 million in exchange for future milestone and royalty payments, which was accounted for as a liability related to the sale of future revenue.
Twist Bioscience continues to focus on expanding its synthetic biology platform and developing new products in the synthetic DNA, biologic drug, and data storage industries.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Twist Bioscience Corporation quarterly 10-Q report dated February 3, 2025. To report an error, please email earnings@qz.com.