$TWST
Twist Bioscience Corp

2020 Q1 Form 10-Q Financial Statement

#000119312520029990 Filed on February 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2018 Q4
Revenue $19.30M $17.16M $11.49M
YoY Change 42.34% 49.36% 166.45%
Cost Of Revenue $13.56M $13.79M $11.86M
YoY Change 15.06% 16.32% 58.14%
Gross Profit $5.733M $3.372M -$365.0K
YoY Change 224.26% -1023.84% -88.54%
Gross Profit Margin 29.71% 19.65% -3.18%
Selling, General & Admin $27.19M $26.41M $15.26M
YoY Change 42.18% 73.05% 64.73%
% of Gross Profit 474.27% 783.07%
Research & Development $10.63M $10.30M $7.273M
YoY Change 19.33% 41.58% 69.02%
% of Gross Profit 185.4% 305.37%
Depreciation & Amortization $1.550M $1.505M $1.472M
YoY Change -1.27% 2.24% 14.46%
% of Gross Profit 27.04% 44.63%
Operating Expenses $37.82M $36.70M $34.39M
YoY Change 34.92% 6.73% 63.26%
Operating Profit -$32.09M -$55.83M -$22.90M
YoY Change 22.17% 143.83% 36.69%
Interest Expense $215.0K $248.0K $348.0K
YoY Change -36.76% -28.74% 27.47%
% of Operating Profit
Other Income/Expense, Net $18.00K -$87.00K -$15.00K
YoY Change -185.71% 480.0% -21.05%
Pretax Income -$31.71M -$55.60M -$22.60M
YoY Change 22.66% 146.07% 33.82%
Income Tax $61.00K $37.00K $43.00K
% Of Pretax Income
Net Earnings -$31.77M -$55.64M -$22.64M
YoY Change 22.5% 145.76% 33.67%
Net Earnings / Revenue -164.63% -324.16% -197.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$855.0K -$1.687M -$1.180M
COMMON SHARES
Basic Shares Outstanding 35.45M 33.12M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $230.1M $103.1M $130.2M
YoY Change 120.61% -20.81%
Cash & Equivalents $184.4M $26.03M $66.46M
Short-Term Investments $45.70M $77.10M $63.70M
Other Short-Term Assets $4.600M $5.700M $4.000M
YoY Change 9.52% 42.5%
Inventory $10.76M $7.416M $5.561M
Prepaid Expenses
Receivables $14.83M $13.05M $6.978M
Other Receivables $1.400M $1.000M $0.00
Total Short-Term Assets $260.2M $129.3M $146.7M
YoY Change 115.06% -11.85%
LONG-TERM ASSETS
Property, Plant & Equipment $23.27M $21.34M $13.60M
YoY Change 55.73% 56.95%
Goodwill $1.138M $1.138M $1.138M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.424M $2.237M $1.816M
YoY Change 26.78% 23.18%
Total Long-Term Assets $63.67M $62.99M $17.79M
YoY Change 231.96% 254.07%
TOTAL ASSETS
Total Short-Term Assets $260.2M $129.3M $146.7M
Total Long-Term Assets $63.67M $62.99M $17.79M
Total Assets $323.9M $192.3M $164.5M
YoY Change 131.06% 16.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.932M $9.106M $6.725M
YoY Change 53.87% 35.41%
Accrued Expenses $3.491M $4.687M $2.606M
YoY Change 44.73% 79.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.333M $3.333M $3.333M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $30.21M $57.84M $19.00M
YoY Change 62.59% 204.47%
LONG-TERM LIABILITIES
Long-Term Debt $2.925M $3.669M $6.526M
YoY Change -49.81% -43.78%
Other Long-Term Liabilities $95.00K $144.0K $333.0K
YoY Change -66.31% -56.76%
Total Long-Term Liabilities $3.020M $3.813M $6.859M
YoY Change -50.57% -44.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.21M $57.84M $19.00M
Total Long-Term Liabilities $3.020M $3.813M $6.859M
Total Liabilities $59.67M $89.20M $25.86M
YoY Change 141.68% 244.96%
SHAREHOLDERS EQUITY
Retained Earnings -$405.9M -$374.2M -$233.5M
YoY Change 56.47% 60.24%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $264.2M $103.1M $138.6M
YoY Change
Total Liabilities & Shareholders Equity $323.9M $192.3M $164.5M
YoY Change 131.06% 16.92%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income -$31.77M -$55.64M -$22.64M
YoY Change 22.5% 145.76% 33.67%
Depreciation, Depletion And Amortization $1.550M $1.505M $1.472M
YoY Change -1.27% 2.24% 14.46%
Cash From Operating Activities -$58.68M -$34.91M -$21.68M
YoY Change 181.84% 61.01% 35.39%
INVESTING ACTIVITIES
Capital Expenditures -$2.740M $2.058M $1.922M
YoY Change -27.32% 7.08% 27.2%
Acquisitions
YoY Change
Other Investing Activities $31.50M $14.46M -$63.84M
YoY Change -376.56% -122.65% -756.12%
Cash From Investing Activities $28.76M $12.41M -$65.76M
YoY Change -289.71% -118.86% -900.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $69.60M
YoY Change
Debt Paid & Issued, Net $833.0K
YoY Change
Cash From Financing Activities 188.0M 2.057M 73.00M
YoY Change -11635.58% -97.18% 2642.26%
NET CHANGE
Cash From Operating Activities -58.68M -34.91M -21.68M
Cash From Investing Activities 28.76M 12.41M -65.76M
Cash From Financing Activities 188.0M 2.057M 73.00M
Net Change In Cash 158.1M -20.44M -14.44M
YoY Change -520.39% 41.55% 181.03%
FREE CASH FLOW
Cash From Operating Activities -$58.68M -$34.91M -$21.68M
Capital Expenditures -$2.740M $2.058M $1.922M
Free Cash Flow -$55.94M -$36.97M -$23.61M
YoY Change 228.09% 56.62% 34.68%

Facts In Submission

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290462000
CY2018Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1864000
CY2018Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-63000
CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3697000
CY2019Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
9000
CY2018Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
69597000
CY2019Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2024000
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
33260761
CY2019Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
32872675
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2019Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2019Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33260761
CY2019Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
32872675
CY2019Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2833000
CY2018Q4 twst Conversion Of Convertible Preferred Stock Warrant
ConversionOfConvertiblePreferredStockWarrant
631000
CY2018Q4 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
290462000
CY2019Q4 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0
CY2019 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0
CY2018Q4 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
1200000
CY2019Q4 dei Document Type
DocumentType
10-Q
CY2019Q4 dei Amendment Flag
AmendmentFlag
false
CY2019Q4 dei Document Period End Date
DocumentPeriodEndDate
2019-12-31
CY2019Q4 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2019Q4 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2019Q4 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
CY2019Q4 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2019Q4 dei Security12b Title
Security12bTitle
Common Stock
CY2019Q4 dei Trading Symbol
TradingSymbol
TWST
CY2019Q4 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2019Q4 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2019Q4 dei Entity Central Index Key
EntityCentralIndexKey
0001581280
CY2019Q4 dei Entity Small Business
EntitySmallBusiness
true
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
37238000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
8371000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
27539000
CY2019Q4 us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
-808000
CY2019Q4 twst Paymentd To Repurchases Of Common Stock For Tax Withholding
PaymentdToRepurchasesOfCommonStockForTaxWithholding
808000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
35910000
CY2019Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
2000000
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y2M15D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0697
CY2019Q4 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2019Q4 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2019Q4 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2019Q4 dei Entity Shell Company
EntityShellCompany
false
CY2019Q4 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2019Q4 dei Entity Ex Transition Period
EntityExTransitionPeriod
true
CY2019Q4 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
236000
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8404000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
8371000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-374162000
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-318524000
CY2019Q4 dei Entity Registrant Name
EntityRegistrantName
Twist Bioscience Corp
CY2019Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q4 us-gaap Common Stock Value
CommonStockValue
CY2019Q3 us-gaap Common Stock Value
CommonStockValue
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
152082000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
-201422000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
138596000
CY2019Q4 us-gaap Litigation Reserve Current
LitigationReserveCurrent
22500000
CY2019Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
22500000
CY2019Q4 twst Increase Decrease In Litigation Settlement
IncreaseDecreaseInLitigationSettlement
22500000
CY2019Q4 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
21000000
CY2019Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
12475000
CY2019Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
11085000
CY2019Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
920000
CY2019Q3 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
1313000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
341000
CY2019Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
294000
CY2019Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
1900000
CY2019Q4 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
700000
CY2020Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
35446291
CY2019Q4 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
2024000
CY2019Q4 us-gaap Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
During the three months ended December 31, 2019 and 2018, the Company purchased raw materials from a related party investor in the amount of $0.7 million and $1.2 million, respectively. Payable balances and cash receipts and receivable balances with the related parties were immaterial as of December 31, 2019 and September 30, 2019.

Files In Submission

Name View Source Status
0001193125-20-029990-index-headers.html Edgar Link pending
0001193125-20-029990-index.html Edgar Link pending
0001193125-20-029990.txt Edgar Link pending
0001193125-20-029990-xbrl.zip Edgar Link pending
d856903d10q.htm Edgar Link pending
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report.css Edgar Link pending
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twst-20191231.xml Edgar Link completed
twst-20191231.xsd Edgar Link pending
twst-20191231_cal.xml Edgar Link unprocessable
twst-20191231_def.xml Edgar Link unprocessable
twst-20191231_lab.xml Edgar Link unprocessable
twst-20191231_pre.xml Edgar Link unprocessable