Twist Bioscience reported a solid second quarter of fiscal 2024, with revenue of $75.3 million, up 25% year over year and 5% sequentially, driven by strength in SynBio and NGS, and supported by a surge in Express Genes activity. Orders reached a quarterly record of $93.2 million, underscoring demand visibility and a broadened customer base. Management highlighted an ongoing margin improvement program, with gross margin guidance lifted to the mid-40s and a target to exceed 50% gross margin by the end of fiscal 2025, reflecting a deliberate mix shift, pricing premium capture from Express Genes, and operational efficiencies. The quarter also showcased a diversified revenue mix across SynBio, NGS, Biopharma, and data storage, accompanied by meaningful geographic expansion into Americas, EMEA, and APAC. The company maintained a strong liquidity position with approximately $293 million in cash, cash equivalents and short-term investments, and guided to 2024 revenue of $300–$304 million and capital expenditures around $15 million, signaling a path toward profitability over the coming quarters. Looking ahead, Twist is focusing on accelerating Express Genes adoption, expanding the NGS workflow, and leveraging its differentiated cfDNA and looped-in European CE-marked diagnostics portfolio to extend its addressable market beyond liquid biopsy while maintaining financial discipline. Investors should monitor Express Genes contribution to gross margin, the pace of Biopharma pipeline development, and the evolution of supply agreements and fixed-premium pricing constructs that may impact margin trajectory and cash generation.