Twist Bioscience Corporation (TWST) SEC Filings & Earnings Calls

Dilution risk: Issuance of 3.59M shares (approx. 6-7% of outstanding) will dilute existing shareholders.

“3,125,000 shares plus 468,750 option shares at $96/share.”

Market overhang: Large equity offering may signal need for capital, potentially indicating cash burn or growth investment needs.

“Upsized from $250M to $300M; net proceeds $327.1M.”

Net loss widening due to increased SG&A and R&D investments.

“Net loss $35.1M vs net income $20.4M in prior year (which included a $48.8M gain).”

High cash burn rate; path to profitability dependent on continued growth.

“Adjusted EBITDA negative $11.3M; cash position $167M.”

Cash burn and accumulated deficit

“accumulated deficit of $ 1,429.2 million as of June 30, 2026” · word for word

Litigation settlement costs

“Litigation settlement costs, net of recoveries — — 7,205 —” · word for word

Litigation settlement costs impacting net loss; net loss widened.

“Litigation settlement costs of $7.2 million booked in Q2; net loss increased to $44.0M from $39.3M.”

Litigation exposure

“The Company recorded a litigation settlement liability of $17.1 million, which is included in litigation accruals as of March 31, 2026.” · word for word

Operating losses and cash burn

“The Company has recognized annual losses from operations since inception and has an accumulated deficit of $1,394.1 million as of March 31, 2026.” · word for word

Dependence on key customers and partners

“The Company's solutions support a wide range of applications, including traditional and AI-enabled therapeutics discovery, diagnostic development, industrial and applied research, agricultural biotechnology, and academic research.” · word for word

Securities Class Action Lawsuit

“On December 12, 2022, a putative securities class action lawsuit captioned Peters v. Twist Bioscience Corporation, et al., Case No. 22-cv-08168 (N.D. Cal.) was filed... The Company is engaged in discovery and intends to continue vigorously defending the remaining claims.” · word for word

SG&A Expense Growth

“Selling, general and administrative expenses increased 24% to $69.7 million for the three months ended December 31, 2025, as compared to $56.2 million for the three months ended December 31, 2024.” · word for word

Cash Burn

“Net cash used in operating activities was $24.8 million during the three months ended December 31, 2025, which was primarily due to a net loss of $30.5 million.” · word for word

Forward-looking statements include risks from competition, technology changes, supply chain, and trade policies.

“Risk factors listed in the filing.”

Ongoing net losses and cash burn

“Net loss $ (30,507) and net cash used in operating activities $ (24,814)”

Securities class action and derivative litigation

“Securities Class Action and derivative suits pending, could result in material liability.”

Dependence on NIH funding for academic research demand

“Academic research and government revenue $12.2M, flat YoY, may be impacted by NIH funding.”

One large NGS customer transitioning assay from research to commercial may impact future revenue; excluding that customer, NGS grew 18%.

“Excluding one large NGS Applications customer who is transitioning their assay from research to commercial, NGS Applications revenue grew 18%” · word for word

Related party transaction risk

“In fiscal year 2025, Twist recognized $9.9 million in revenue from GeneDx. ... In fiscal year 2025 , Twist recognized $2.2 million in revenue from GRAIL.” · word for word

Spin-out risk

“we executed a contribution agreement (the “ Contribution Agreement ”) with Atlas Data Storage, Inc. (“ Atlas ”), then a newly formed company, for the sale and transfer to Atlas of our DNA digital data storage assets” · word for word

Accumulated deficit and history of losses

“Since our inception, we have incurred significant operating losses and have accumulated a net deficit of $1,319.6 million.” · word for word

Dependence on continued customer adoption and market growth

“Our ability to generate product revenue sufficient to achieve profitability will depend heavily on the success of our existing products and the development and commercialization of additional products...” · word for word

Execution risk on achieving adjusted EBITDA breakeven by Q4 FY2026; competitive pressures in NGS and SynBio markets.