Twist Bioscience Corporation (NASDAQ: TWST) reported Q2 EPS of ($0.93), $0.04 better than the analyst estimate of ($0.97). Revenue for the quarter came in at $13.56 million versus the consensus estimate of $12.02 million.

“We continue to post strong topline growth as we extend our reach and diversify our revenue stream from our synbio customers,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist. “For NGS, we continue to expand our base of customers rapidly, adding several in production and a larger number in pilot. Importantly, we launched our biopharma capabilities in April at The Essential Protein Engineering Summit, or PEGS, the beginning of what promises to be an exciting division of the company.”

Leproust continued, “This quarter, we reported a positive gross margin of $1.8 million, and we expect to continue to improve our operational synergies and increase capacity. In the current quarter we will be expanding our manufacturing facilities in South San Francisco and we will be extending our ISO 13485:2016 for our quality management systems for NGS at this new facility.”

FISCAL 2019 SECOND QUARTER FINANCIAL RESULTS

• Orders: Total orders received for the three months ended March 31, 2019 were $16.7 million, compared to $8.5 million for the same period of fiscal 2018.
• Revenue: Total revenues were $13.6 million for the three months ended March 31, 2019 compared to $6.2 million for the same period of fiscal 2018.
• Cost of Revenues: Cost of revenues for the three months ended March 31, 2019 was $11.8 million compared to $8.1 million for the similar period of fiscal 2018.
• Research and Development Expenses: Research and development expenses for the three months ended March 31, 2019 were $8.9 million compared to $4.7 million for the same period of fiscal 2018.
• Selling, General and Administrative Expenses: Selling, general and administrative expenses for the three months ended March 31, 2019 were $19.1 million compared to $10.0 million for the same period of fiscal 2018.
• Net Loss: Net loss for the fiscal 2019 second quarter was $25.9 million, or $0.93 per share, compared to $16.9 million, or $6.32 per share, for the fiscal 2018 second quarter.
• Cash Position: As of March 31, 2019, the company had $104.3 million in cash, cash equivalents and short term investments.

GUIDANCE:

Twist Bioscience Corporation sees FY2019 revenue of $50-52 million, versus the consensus of $48.87 million.

For earnings history and earnings-related data on Twist Bioscience Corporation (TWST) click here.