Twist announces Q2 financial results

By The Science Advisory Board staff writers

Twist Bioscience announced that revenues grew in the company's second quarter of fiscal 2021 (end-March 31), although the firm's net loss also grew.

Twist's revenues were $31.2 million for the quarter, up 62% for the quarter compared to $19.3 million for the same period last year. The company posted a net loss for the quarter of $37.9 million, compared with a net loss of $31.8 million the same period of 2020. The company cited net loss as increased investments in commercial organization and research and development activities.

Total orders received for the quarter were $41.7 million, compared to $24.6 million for the same period of the 2020 fiscal year.

Company leaders credit the revenue growth to the company signing new biopharma partnerships with multiple associated programs and increasing density for its data storage vertical market.

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