Twist Bioscience Expects 2024 Revenues Of $310M-$311M Versus Prior Guidance Of $300M-$304M And Consensus Of $303.906M
Portfolio Pulse from Benzinga Newsdesk
Twist Bioscience has updated its financial guidance for fiscal year 2024, expecting total revenue of $310M-$311M, up from prior guidance of $300M-$304M and above the consensus of $303.906M. The company anticipates growth in SynBio and NGS revenues, while Biopharma revenue is expected to decline. Gross margin is projected at the high end of previous guidance, and loss from operations is slightly improved. Capital expenditure is reduced, and ending cash is expected to be higher than previously forecasted.
August 02, 2024 | 11:35 am
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Twist Bioscience has raised its revenue guidance for fiscal year 2024 to $310M-$311M, surpassing the consensus estimate of $303.906M. The company expects significant growth in SynBio and NGS revenues, while Biopharma revenue is projected to decline. Gross margin is expected to be at the high end of previous guidance, and loss from operations is slightly improved. Capital expenditure is reduced, and ending cash is expected to be higher than previously forecasted.
The updated guidance indicates stronger-than-expected revenue growth, particularly in SynBio and NGS segments, which is likely to positively impact investor sentiment. The improved gross margin and higher ending cash also contribute to a favorable outlook. However, the decline in Biopharma revenue and the overall loss from operations may temper the positive impact.
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