Twist Bioscience Corporation (NASDAQ: TWST) shares gain substantially Friday, as the company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today reported financial results and business highlights for the fourth quarter ended September 30, 2023.
“Fiscal 2023 was a defining year for Twist as we grew our revenue 20% year over year with strength in NGS and synbio in particular,” said CEO Emily M. Leproust. “We took decisive action to align our cost structure with our accelerated path to profitability and implemented our strategy for key products to set the stage for near and long-term success.”
Total orders received for the fourth quarter of fiscal 2023 grew to $71.1 million compared to $62.1 million for the same period of fiscal 2022. Total revenues for the fourth quarter of fiscal 2023 grew to $66.9 million compared to $57.3 million for the same period of fiscal 2022.
Cost of revenues for the fourth quarter of fiscal 2023 increased to $42.4 million compared to $31.6 million for the same period of fiscal 2022.
Research and development expenses for the fourth quarter of fiscal 2023 decreased to $23.7 million compared to $29.6 million for the same period of fiscal 2022.
TWST shares leaped $3.84, or 20.1%, to $22.90.
