# Twist Bioscience Corporation (TWST)

> Source: Nexqual · https://nexqual.com/TWST · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Twist Bioscience Corporation (TWST), nexqual.com/TWST" · informational, not investment advice.

**Price:** USD 135.47 (-9.16% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 149.13 · day 131.85–150.14 · 52w 23.3–219.71 · market cap $8.98B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $432M, net income -$137M (-31.7% margin), free cash flow -$93.1M (SEC filings).
- 1 of 80 tracked superinvestors hold TWST (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Total return with dividends: 1Y +325.6% vs S&P 500 +14.9%; 5Y +15.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-16, EPS estimate USD -0.2, revenue estimate $124M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $132M | $204M | $245M | $313M | $377M | $432M |
| Gross profit | $51.7M | $84.2M | $89.7M | $133M | $191M | — |
| Operating income | -$153M | -$235M | -$217M | -$221M | -$136M | -$145M |
| Net income | -$152M | -$218M | -$205M | -$209M | -$77.7M | -$137M |
| EPS (diluted) | -$3.15 | -$4.04 | -$3.60 | -$3.60 | -$1.30 | — |
| Free cash flow | -$139M | -$226M | -$170M | -$69.2M | -$75.6M | -$93.1M |
| Gross margin | 39.1% | 41.4% | 36.6% | 42.6% | 50.7% | — |
| Operating margin | -115.4% | -115.3% | -88.6% | -70.6% | -36.2% | -33.6% |
| Net margin | -114.9% | -107.0% | -83.5% | -66.7% | -20.6% | -31.7% |
| Revenue growth | +46.9% | +53.8% | +20.4% | +27.7% | +20.3% | — |
| Cash + short-term investments | $478M | $505M | $336M | $276M | $232M | — |
Fiscal years end Sep. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 20.8x · P/B 20.1x · FCF yield -1.04% · Earnings yield -1.52%

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold TWST. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | 0.05% | $5.7M | Added +130.1% |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | TD Cowen | Target raised | Buy | $115 → $190 |
| 2026-10-12 | Canaccord Genuity | Target raised | Buy | $120 → $205 |
| 2026-10-08 | Jefferies | Initiated | Hold | $150 |
| 2026-10-07 | Barclays | Target raised | Overweight | $112 → $215 |
| 2026-10-01 | Guggenheim | Target raised | Buy | $107 → $212 |
| 2026-09-29 | Leerink Partners | Target raised | Outperform | $160 → $190 |
| 2026-09-18 | BWS Financial | Maintained | Sell | $45 |
| 2026-09-17 | Leerink Partners | Target raised | Outperform | $120 → $160 |
| 2026-09-09 | BWS Financial | Initiated | Sell | $45 |
| 2026-09-09 | UBS | Initiated | Neutral | $144 |
| 2026-08-05 | Piper Sandler | Target raised | Overweight | $85 → $115 |
| 2026-08-04 | Baird | Target raised | Outperform | $113 → $115 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +325.6% | +15.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +327.7% | +2.9% |
| Volatility (annualized) | 77.5% | 79.1% |
| Max drawdown | -35.2% (Oct 2026→Oct 2026) | -91.2% (Nov 2021→May 2023) |

## Peers (Biotechnology)
PCVX (Vaxcyte, Inc.) USD 62.85 -0.60% · KRYS (Krystal Biotech, Inc.) USD 320.13 -0.63% · KYMR (Kymera Therapeutics, Inc.) USD 110.85 -1.58% · MDGL (Madrigal Pharmaceuticals, Inc.) USD 453.34 -1.01% · IBRX (ImmunityBio, Inc.) USD 8.31 -3.82% · BMRN (BioMarin Pharmaceutical Inc.) USD 56.63 +2.57%

## More
Full page: https://nexqual.com/TWST · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in TWST's own 10-K filed 2025-11-17 (https://www.sec.gov/Archives/edgar/data/1581280/000158128025000025/twst-20250930.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | At Twist Bioscience | "At Twist Bioscience Corporation, we work in service of our customers who are changing the world for the better." |
| Partner | Boehringer Ingelheim | "Some of our partners include Bayer, Boehringer Ingelheim GmbH, Takeda Pharmaceutical Company Limited, Adicet Bio, Ono Pharmaceutical Ltd., Kyowa Kirin, Invetx, Inc., Astellas Pharma Inc. and Neogene Therapeutics, Inc." |
| Partner | TAKEDA PHARMACEUTICAL CO LTD (TAK) | "Some of our partners include Bayer, Boehringer Ingelheim GmbH, Takeda Pharmaceutical Company Limited, Adicet Bio, Ono Pharmaceutical Ltd., Kyowa Kirin, Invetx, Inc., Astellas Pharma Inc. and Neogene Therapeutics, Inc." |
| Partner | Ono Pharmaceutical | "Some of our partners include Bayer, Boehringer Ingelheim GmbH, Takeda Pharmaceutical Company Limited, Adicet Bio, Ono Pharmaceutical Ltd., Kyowa Kirin, Invetx, Inc., Astellas Pharma Inc. and Neogene Therapeutics, Inc." |
| Partner | Invetx | "Some of our partners include Bayer, Boehringer Ingelheim GmbH, Takeda Pharmaceutical Company Limited, Adicet Bio, Ono Pharmaceutical Ltd., Kyowa Kirin, Invetx, Inc., Astellas Pharma Inc. and Neogene Therapeutics, Inc." |
| Partner | Astellas Pharma | "Some of our partners include Bayer, Boehringer Ingelheim GmbH, Takeda Pharmaceutical Company Limited, Adicet Bio, Ono Pharmaceutical Ltd., Kyowa Kirin, Invetx, Inc., Astellas Pharma Inc. and Neogene Therapeutics, Inc." |
| Partner | Neogene Therapeutics | "Some of our partners include Bayer, Boehringer Ingelheim GmbH, Takeda Pharmaceutical Company Limited, Adicet Bio, Ono Pharmaceutical Ltd., Kyowa Kirin, Invetx, Inc., Astellas Pharma Inc. and Neogene Therapeutics, Inc." |

Other companies that name TWST in their own reports (relationship from TWST's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Adicet Bio, Inc. (ACET) | 10-K 2026-03-12 | "We have entered into multiple strategic agreements and collaborations, including our License and Collaboration Agreement with Regeneron, our Antibody Discovery Agreement with Twist Bioscience Corporat…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| NGS applications | $61.8M | 52.2% | +11.8% |
| DNA synthesis and protein solutions | $56.6M | 47.8% | +38.7% |
| Total revenue | $118.4M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $77.3M | 65.3% | +30.1% |
| EMEA | $33.6M | 28.4% | +9.4% |
| APAC | $7.5M | 6.3% | +26.4% |
| Total revenue | $118.4M | 100% | — |

## Customer concentration

Period ended 2025-09-30: 10% of revenue from unnamed direct customers (10-K, filed 2025-11-17).

## Company outlook (8-K filed 2026-08-03)

- "The following statements are based on Twist's current expectations for fiscal 2026."
- "For the full fiscal year 2026, Twist expects : • Total revenue in the range of $456 million to $457 million, growth of approximately 21% year over year, compared to prior guidance of $442 to $447 million. • Gross margin to be above 52%."
- "For the fourth quarter, Twist expects: • Total revenue of approximately $123 million to $124 million, growth of approximately 25% yea r over year at the midpoint, with sequential growth in both DSPS and NGS Applications. • To achieve adjusted EBITDA breakeven."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.20 | $-0.19 | +7.4% | $123.6M | 4 |
| Next quarter (ends 2026-12-31) | $-0.14 | $-0.10 | +45.3% | $126.4M | 3 |
| Current fiscal year (ends 2026-09-30) | $-1.20 | $-1.19 | +0.8% | $456.3M | 5 |
| Next fiscal year (ends 2027-09-30) | $-0.40 | $-1.00 | -60.2% | $548.6M | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-16): ±24.2%; last 8 reports averaged ±11.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 107.1% | ±24.2% |
| 2026-12-18 | 56 | 95.8% | ±30.3% |
| 2027-01-15 | 84 | 89.8% | ±34.6% |
| 2027-04-16 | 175 | 89.6% | ±49.0% |
| 2027-06-17 | 237 | 89.7% | ±56.6% |