Twist Bioscience Corp (NASDAQ:TWST) Q1 2019 Earnings Conference Call Transcript

Feb 07, 2019 • 04:30 pm ET


Twist Bioscience Corp (NASDAQ:TWST) Q1 2019 Earnings Conference Call Transcript


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Good day, ladies and gentlemen, and welcome to the Twist Bioscience Fiscal 2019 First Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder, this conference call is being recorded.

I'd now like to introduce your host for today's conference Mr. Jim Thorburn, Chief Financial Officer. Sir, you may begin.

Jim Thorburn

Thanks, Jual. Good afternoon, everyone, and thank you for joining us today for Twist Bioscience conference call to review our fiscal 2019 first quarter financial results and business progress. Please review the press release we issued earlier today, which is available at our website, With me on today's call is Dr. Emily Leproust, CEO and Co-Founder of Twist. Emily will begin with a review of our progress. I will report on our financial and operational performance. Then Emily will discuss our upcoming milestones and directions. We will then open the call up for questions. As a reminder, this call is being recorded. The audio portion will be available on our investor website for the next two weeks.

During today's presentation, we will also make forward-looking statements within the meaning of the Federal Securities Laws. Forward-looking statements generally relate to future events or future financial or operating performance. Our expectations and beliefs regarding these matters may not materialize and actual results and financial periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include those set forth in the press release we issued earlier today as well as those more fully described in our filings with the SEC. The forward-looking statements in this presentation are based on information available to us as of the date here off and we disclaim any obligation to update any forward-looking statements except as required by law.

With that, I will now turn the call over to our Chief Executive and Co-Founder, Dr. Emily Leproust.

Emily Leproust

Thank you, Jim, and good afternoon, everyone. We remain focused on our vision to leverage our silicon platform to write DNA at an unprecedented scale, improving health and sustainability, with progress in all areas of our business. In the first quarter of fiscal 2019, we reported revenues of $11.5 million for the quarter, an increase of 166% over the first quarter of fiscal 2018 and 37% over last quarter. Jim will provide specific financial details shortly, but I'd like to highlight a couple of important trends we are seeing in our revenue growth.

Beginning with SynBio, which is approximately 71,000 genes during the quarter compared to 45,000 genes in the same period last year, an increase of 60%. This is a slight increase in the number of genes over last quarter. However, we see an increase in the average length of genes shift and, as you know, longer genes bring in more revenue. In addition, we can see that our e-commerce ordering system is enabling us to