Twist Bioscience (TWST) financial statements
Twist Bioscience reported revenue of $377M in fiscal 2025, up 55.9% a year over 8 years.
Net income was -$78M and the operating margin -36.2%, against -543.2% in 2017.
Free cash flow was -$76M.
The diluted share count fell 98% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Twist Bioscience's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11M | $25M | $54M | $90M | $132M | $204M | $245M | $313M | $377M |
| Cost of revenue | $24M | $32M | $47M | $61M | $81M | $119M | $155M | $180M | $186M |
| Gross profit | -$13M | -$7M | $7M | $29M | $52M | $84M | $90M | $133M | $191M |
| Research and development | $19M | $20M | $36M | $43M | $69M | $120M | $107M | $91M | $80M |
| Selling, general and admin | $26M | $43M | $80M | $103M | $136M | $213M | $190M | $218M | $247M |
| Operating income | -$58M | -$71M | -$109M | -$140M | -$153M | -$235M | -$217M | -$221M | -$136M |
| Interest expense | $905,000 | $1M | $1M | $787,000 | $367,000 | $80,000 | $5,000 | $29,000 | — |
| Pre-tax income | -$59M | -$71M | -$107M | -$140M | -$154M | -$228M | -$203M | -$208M | -$77M |
| Income tax | $280,000 | $242,000 | $292,000 | $382,000 | -$2M | -$10M | $1M | $560,000 | $719,000 |
| Net income | -$59M | -$71M | -$108M | -$140M | -$152M | -$218M | -$205M | -$209M | -$78M |
| EPS (diluted) | -$24.49 | -$25.51 | -$3.92 | -$3.57 | -$3.15 | -$4.04 | -$3.60 | -$3.60 | -$1.30 |
| Diluted shares | 2.42B | 3M | 27M | 39M | 48M | 54M | 57M | 58M | 60M |
| Gross margin | -123.1% | -26.6% | 12.8% | 31.8% | 39.1% | 41.4% | 36.6% | 42.6% | 50.7% |
| Operating margin | -543.2% | -277.5% | -200.1% | -155.5% | -115.4% | -115.3% | -88.6% | -70.6% | -36.2% |
| Net margin | -550.8% | -280.2% | -198.0% | -155.3% | -114.9% | -107.0% | -83.5% | -66.7% | -20.6% |
Balance sheet
Fiscal years, from Twist Bioscience's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $31M | $81M | $138M | $290M | $478M | $505M | $336M | $276M | $232M |
| Receivables | — | $5M | $12M | $26M | $29M | $40M | $44M | $35M | $57M |
| Inventory | — | $6M | $7M | $12M | $32M | $39M | $32M | $24M | $28M |
| Total current assets | — | $96M | $160M | $335M | $546M | $596M | $424M | $347M | $333M |
| Property, plant and equipment | — | $12M | $21M | $25M | $44M | $139M | $132M | $103M | $102M |
| Goodwill | — | $1M | $1M | $1M | $22M | $86M | $86M | $86M | $82M |
| Total assets | — | $116M | $187M | $399M | $702M | $961M | $776M | $614M | $642M |
| Total current liabilities | — | $19M | $30M | $36M | $63M | $91M | $73M | $71M | $91M |
| Long-term debt | — | $7M | $4M | $1M | — | — | — | — | — |
| Total liabilities | — | $27M | $35M | $63M | $121M | $172M | $153M | $142M | $169M |
| Shareholders' equity | -$133M | -$201M | $152M | $336M | $581M | $789M | $623M | $473M | $473M |
| Net debt | -$31M | -$71M | -$39M | -$89M | -$464M | -$379M | -$286M | -$226M | -$183M |
Cash flow
Fiscal years, from Twist Bioscience's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$51M | -$66M | -$88M | -$142M | -$112M | -$124M | -$142M | -$64M | -$48M |
| Capital spending | $7M | $4M | $15M | $10M | $27M | $102M | $28M | $5M | $28M |
| Free cash flow | -$58M | -$70M | -$103M | -$152M | -$139M | -$226M | -$170M | -$69M | -$76M |
| Stock-based compensation | $2M | $3M | $11M | $17M | $37M | $80M | $30M | $51M | $64M |
| Net borrowing | -$2M | — | -$2M | -$3M | -$3M | -$2M | $0 | $0 | — |
| Free cash flow margin | -537.7% | -274.7% | -188.8% | -168.8% | -105.3% | -111.1% | -69.5% | -22.1% | -20.1% |
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Open TWST in InvestinglyQuestions
What was Twist Bioscience's revenue in 2025?
$377M in fiscal 2025, from its 10-K filing.
How much free cash flow does Twist Bioscience generate?
-$76M in fiscal 2025 (operating cash flow minus capital spending).
From Twist Bioscience's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.