10-Q Filing

TWIST BIOSCIENCE CORP CIK: 1581280 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001628280-24-003051`
Period End Date	20231231
Filing Date	20240202
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	twst-20231231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 42 Cash Flow Statement 60 Stockholders Equity 23

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$266.27M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	57.56M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$286.47M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	57.78M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	57.56M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$49.94M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$44.88M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	57.78M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$35.35M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$44.06M	USD	Point-in-time
Inventories	`InventoryNet`	$32.06M	USD	Point-in-time
Inventories	`InventoryNet`	$30.86M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.72M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$390.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$424.26M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$131.83M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$126.22M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$69.09M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$71.53M	USD	Point-in-time
Goodwill	`Goodwill`	$85.81M	USD	Point-in-time
Goodwill	`Goodwill`	$85.81M	USD	Point-in-time
Goodwill	`Goodwill`	$85.81M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$53.19M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$54.48M	USD	Point-in-time
Restricted cash, non-current	`RestrictedCashNoncurrent`	$2.81M	USD	Point-in-time
Restricted cash, non-current	`RestrictedCashNoncurrent`	$2.85M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.68M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.42M	USD	Point-in-time
Total assets	`Assets`	$732.82M	USD	Point-in-time
Total assets	`Assets`	$776.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.26M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$13.96M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$10.75M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$25.82M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$20.79M	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$14.90M	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$14.81M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.80M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$73.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$65.23M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$79.17M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$77.07M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$475.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$475.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$142.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$152.97M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.00001 par value 100,000 and 100,000 shares authorized at December 31, 2023 and September 30, 2023, respectively; 57,779 and 57,557 shares issued and outstanding at December 31, 2023 and September 30, 2023, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value 100,000 and 100,000 shares authorized at December 31, 2023 and September 30, 2023, respectively; 57,779 and 57,557 shares issued and outstanding at December 31, 2023 and September 30, 2023, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.67B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.66B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-565.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-756.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.03B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.08B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$590.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$789.38M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$746.33M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$623.43M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$732.82M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$776.40M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$71.50M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$54.24M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$42.54M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$29.44M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$31.24M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$23.10M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$52.84M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$42.32M	USD	1 Quarter
Change in fair value of contingent considerations and holdbacks	`ChangeInFairValueOfContingentConsiderationAndIndemnityHoldback`	-	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$71.50M	USD	1 Quarter
Change in fair value of contingent considerations and holdbacks	`ChangeInFairValueOfContingentConsiderationAndIndemnityHoldback`	$4.13M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$54.24M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$98.87M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$118.47M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-46.98M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-44.63M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.04M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.12M	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-157.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-31.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-41.75M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-42.89M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$120.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$76.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLoss`	$-43.01M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLoss`	$-41.82M	USD	1 Quarter
Change in unrealized (gain) loss on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$134.00K	USD	1 Quarter
Change in unrealized (gain) loss on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-868.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-366.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$57.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-42.82M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-43.06M	USD	1 Quarter
Net loss per share attributable to common stockholdersbasic (in usd per share)	`EarningsPerShareBasic`	$-0.75	USD	1 Quarter
Net loss per share attributable to common stockholdersbasic (in usd per share)	`EarningsPerShareBasic`	$-0.74	USD	1 Quarter
Net loss per share attributable to common stockholdersdiluted (in usd per share)	`EarningsPerShareDiluted`	$-0.75	USD	1 Quarter
Net loss per share attributable to common stockholdersdiluted (in usd per share)	`EarningsPerShareDiluted`	$-0.74	USD	1 Quarter
Weighted average shares used in computing net loss per share attributable to common stockholdersbasic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	56.44M	shares	1 Quarter
Weighted average shares used in computing net loss per share attributable to common stockholdersbasic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	57.50M	shares	1 Quarter
Weighted average shares used in computing net loss per share attributable to common stockholdersdiluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.44M	shares	1 Quarter
Weighted average shares used in computing net loss per share attributable to common stockholdersdiluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.50M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-41.82M	USD	1 Quarter
Net loss	`ProfitLoss`	$-43.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.17M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseImpairmentLoss`	$254.00K	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseImpairmentLoss`	$248.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$-2.33M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$11.02M	USD	1 Quarter
Change in fair value of acquisition consideration	`ChangeInFairValueOfAcquisitionConsideration`	$-4.13M	USD	1 Quarter
Change in fair value of acquisition consideration	`ChangeInFairValueOfAcquisitionConsideration`	-	USD	1 Quarter
Other non cash adjustments	`OtherNoncashIncomeExpense`	$-64.00K	USD	1 Quarter
Other non cash adjustments	`OtherNoncashIncomeExpense`	$-287.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$4.10M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-8.06M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.28M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.18M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.12M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-300.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-499.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.28M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.21M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.25M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.90M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-5.08M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-3.72M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$126.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.53M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-54.07M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.97M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.51M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.82M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$18.33M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$22.65M	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$27.50M	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$24.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.97M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.17M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$604.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$951.00K	USD	1 Quarter
Repurchases of common stock for income tax withholding	`PaymentsToRepurchasesOfCommonStockForTaxWithholding`	$999.00K	USD	1 Quarter
Repurchases of common stock for income tax withholding	`PaymentsToRepurchasesOfCommonStockForTaxWithholding`	$2.42M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-395.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.47M	USD	1 Quarter
Effect of exchange rates on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$116.00K	USD	1 Quarter
Effect of exchange rates on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$268.00K	USD	1 Quarter
Net decrease in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-20.16M	USD	1 Quarter
Net decrease in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-61.17M	USD	1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$269.12M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$319.09M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$289.28M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$380.26M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$269.12M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$319.09M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$289.28M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$380.26M	USD	Point-in-time
Income taxes paid, net of refunds	`IncomeTaxesPaidNet`	$40.00K	USD	1 Quarter
Income taxes paid, net of refunds	`IncomeTaxesPaidNet`	$52.00K	USD	1 Quarter
Property and equipment additions included in accounts payable and accrued expenses	`LiabilitiesAssumed1`	$4.52M	USD	1 Quarter
Property and equipment additions included in accounts payable and accrued expenses	`LiabilitiesAssumed1`	$487.00K	USD	1 Quarter

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	57.56M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	57.78M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$590.04M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$789.38M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$746.33M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$623.43M	USD	Point-in-time
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	58,000.00	shares	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$603.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$951.00K	USD	1 Quarter
Repurchases of common stock for income tax withholding	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.42M	USD	1 Quarter
Repurchases of common stock for income tax withholding	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$999.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$-2.07M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$11.05M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.23M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$191.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-41.82M	USD	1 Quarter
Net loss	`ProfitLoss`	$-43.01M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	57.56M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	57.78M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$590.04M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$789.38M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$746.33M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$623.43M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.