$TWST
Twist Bioscience Corp

2020 Q3 Form 10-Q Financial Statement

#000119312520217763 Filed on August 12, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q2
Revenue $32.43M $21.21M $13.60M
YoY Change 106.04% 55.93% 107.92%
Cost Of Revenue $17.58M $16.47M $11.39M
YoY Change 41.89% 44.57% 51.86%
Gross Profit $14.86M $4.735M $2.206M
YoY Change 343.58% 114.64% -329.31%
Gross Profit Margin 45.82% 22.33% 16.22%
Selling, General & Admin $27.19M $22.49M $21.32M
YoY Change 11.34% 5.47% 89.41%
% of Gross Profit 182.97% 474.91% 966.46%
Research & Development $11.64M $10.44M $9.007M
YoY Change 10.86% 15.95% 70.98%
% of Gross Profit 78.33% 220.57% 408.3%
Depreciation & Amortization $1.890M $1.730M $1.580M
YoY Change 26.85% 9.49% -7.06%
% of Gross Profit 12.72% 36.54% 71.62%
Operating Expenses $38.82M $32.93M $30.33M
YoY Change 11.17% 8.59% 83.53%
Operating Profit -$23.96M -$28.20M -$28.12M
YoY Change -24.11% 0.27% 60.82%
Interest Expense -$30.00K $181.0K $318.0K
YoY Change -106.0% -43.08% -5.64%
% of Operating Profit
Other Income/Expense, Net -$60.00K -$56.00K -$227.0K
YoY Change -75.33% 1521.43%
Pretax Income -$24.06M -$28.19M -$27.86M
YoY Change -22.56% 1.16% 58.73%
Income Tax $260.0K $21.00K $54.00K
% Of Pretax Income
Net Earnings -$24.32M -$28.21M -$27.92M
YoY Change -22.0% 1.04% 58.4%
Net Earnings / Revenue -74.99% -133.01% -205.26%
Basic Earnings Per Share
Diluted Earnings Per Share -$548.1K -$674.2K -$921.8K
COMMON SHARES
Basic Shares Outstanding 44.66M 40.98M 28.04M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.0M $311.8M $161.8M
YoY Change 109.99% 92.71% 74.92%
Cash & Equivalents $93.67M $207.9M $68.21M
Short-Term Investments $196.3M $103.9M $93.60M
Other Short-Term Assets $6.200M $6.300M $3.600M
YoY Change 138.46% 75.0% 33.33%
Inventory $12.29M $13.16M $5.496M
Prepaid Expenses
Receivables $26.38M $13.35M $11.70M
Other Receivables $1.000M $900.0K $0.00
Total Short-Term Assets $334.9M $344.6M $182.6M
YoY Change 109.12% 88.68% 75.94%
LONG-TERM ASSETS
Property, Plant & Equipment $25.47M $23.87M $19.82M
YoY Change 22.23% 20.45% 54.82%
Goodwill $1.138M $1.138M $1.138M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.823M $2.655M $2.090M
YoY Change -25.69% 27.03% -50.24%
Total Long-Term Assets $64.01M $63.66M $24.18M
YoY Change 138.33% 163.25% 27.95%
TOTAL ASSETS
Total Short-Term Assets $334.9M $344.6M $182.6M
Total Long-Term Assets $64.01M $63.66M $24.18M
Total Assets $398.9M $408.2M $206.8M
YoY Change 113.31% 97.4% 68.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.830M $5.973M $7.835M
YoY Change -50.51% -23.77% 74.11%
Accrued Expenses $3.901M $2.731M $3.713M
YoY Change -34.6% -26.45% -38.12%
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% 96.06%
Total Short-Term Liabilities $36.03M $31.38M $25.45M
YoY Change 18.7% 23.3% 40.59%
LONG-TERM LIABILITIES
Long-Term Debt $1.403M $2.170M $5.119M
YoY Change -68.11% -57.61% -98.22%
Other Long-Term Liabilities $351.0K $25.70M $236.0K
YoY Change 122.15% 10789.83% -21.33%
Total Long-Term Liabilities $1.754M $2.170M $5.355M
YoY Change -61.52% -59.48% -98.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.03M $31.38M $25.45M
Total Long-Term Liabilities $1.754M $2.170M $5.355M
Total Liabilities $62.62M $59.29M $30.80M
YoY Change 79.37% 92.5% -89.91%
SHAREHOLDERS EQUITY
Retained Earnings -$458.5M -$434.1M -$287.3M
YoY Change 43.93% 51.09%
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 $336.3M $348.9M $176.0M
YoY Change
Total Liabilities & Shareholders Equity $398.9M $408.2M $206.8M
YoY Change 113.31% 97.4% 68.55%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$24.32M -$28.21M -$27.92M
YoY Change -22.0% 1.04% 58.4%
Depreciation, Depletion And Amortization $1.890M $1.730M $1.580M
YoY Change 26.85% 9.49% -7.06%
Cash From Operating Activities -$25.21M -$23.46M -$22.08M
YoY Change 7.92% 6.25% 30.34%
INVESTING ACTIVITIES
Capital Expenditures -$2.230M -$2.840M -$5.170M
YoY Change -42.82% -45.07% 720.63%
Acquisitions
YoY Change
Other Investing Activities -$92.44M -$58.30M -$17.53M
YoY Change -3511.07% 232.57% -436.47%
Cash From Investing Activities -$94.67M -$61.15M -$22.70M
YoY Change 7855.46% 169.38% -595.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $84.30M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.570M 108.1M 84.28M
YoY Change 90.1% 28.23% 239.43%
NET CHANGE
Cash From Operating Activities -25.21M -23.46M -22.08M
Cash From Investing Activities -94.67M -61.15M -22.70M
Cash From Financing Activities 5.570M 108.1M 84.28M
Net Change In Cash -114.3M 23.46M 39.50M
YoY Change 428.72% -40.61% 216.76%
FREE CASH FLOW
Cash From Operating Activities -$25.21M -$23.46M -$22.08M
Capital Expenditures -$2.230M -$2.840M -$5.170M
Free Cash Flow -$22.98M -$20.62M -$16.91M
YoY Change 18.09% 21.94% 3.68%

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During the three months ended June 30, 2020 and 2019, the Company purchased raw materials from a related party investor in the amount of $1.1 million and $0.5 million, respectively. During the nine months ended June 30, 2020 and 2019, the Company purchased raw materials from a related party investor in the amount of $2.7 million and $2.6 million, respectively. Payable balances and cash receipts and receivable balances with the related parties were immaterial as of June 30, 2020 and September 30, 2019.
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CY2019Q3 us-gaap Allowance For Doubtful Accounts Receivable
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dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
dei Entity Central Index Key
EntityCentralIndexKey
0001581280
dei Entity Shell Company
EntityShellCompany
false
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
true
dei Security Exchange Name
SecurityExchangeName
NASDAQ
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us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
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dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Transition Report
DocumentTransitionReport
false
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2020-06-30
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Registrant Name
EntityRegistrantName
Twist Bioscience Corp
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Security12b Title
Security12bTitle
Common Stock
dei Trading Symbol
TradingSymbol
TWST
CY2020Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
44662970

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