Twist Bioscience delivered a solid first quarter of fiscal 2025, marked by record revenue of $88.7 million, up 24% year-over-year and 5% sequentially, with a gross margin of 48.3% (vs. 40.5% in FQ1 FY2024). The results underscore the leverage of high-volume DNA synthesis and the company’s ability to monetize a diversified product portfolio across SynBio, NGS, and Biopharma Services. Management emphasized the path to adjusted EBITDA breakeven, supported by continued revenue growth and cost discipline, including capex-lean margin initiatives and process improvements (e.g., tip-cost reductions). The company raised full-year 2025 guidance, signaling confidence in mid- to long-term profitability and cash-flow positivity, while acknowledging near-term operating losses as it funds growth and scale. Strategic strengths include a differentiated Express portfolio delivering faster turnaround and higher wallet share, a data-storage initiative targeting terabyte-scale DNA data storage, and a robust balance sheet with ample liquidity to support R&D and capacity expansion.
Key drivers of performance include: 1) SynBio revenue of $34.4M, up 28% YoY; 2) NGS revenue of $48.6M, up 23% YoY and 7% QoQ, with continued growth in liquid biopsy and minimal residual disease workflows; 3) Biopharma Services at $5.7M with orders of $5.9M, reflecting a cautiously optimistic funnel; and 4) geographic strength across Americas, EMEA and APAC, totaling $88.7M in quarterly revenue. Management outlined a multi-quarter margin expansion strategy driven by revenue growth, volume leverage, and ongoing cost initiatives, with a trajectory to surpass 50% gross margin by Q4 and to reach EBITDA breakeven without new equity financing. Investors should monitor the pace of Express adoption, policy backdrop (tariffs) and NIH-funded demand, and the progress of data-storage milestones as potential upside to the core growth plan.