© Reuters.
SAN FRANCISCO – Shares of Twist Bioscience (NASDAQ:) Corporation saw an uptick today following the release of their fourth-quarter financial results, which surpassed analyst expectations. The San Francisco-based biotechnology company reported a quarterly operational loss of $46.2 million, or 81 cents per share, coupled with a notable increase in revenue to $66.9 million, compared to the same quarter last year.
Looking ahead, Twist Bioscience provided a positive outlook for fiscal year 2024. The firm projects revenues to reach between $285 million and $290 million, alongside an anticipated reduction in operational loss by 15% to 18%. This forward-looking guidance signals confidence in the company’s growth trajectory and operational efficiency improvements.
Investors responded positively to this news, driving up the company’s stock as the market digested the better-than-expected performance and promising revenue forecast for the upcoming year. The financial results and optimistic projections reflect Twist Bioscience’s ongoing efforts to strengthen its market position within the biotech industry.
InvestingPro Insights
Drawing from real-time data provided by InvestingPro, Twist Bioscience Corporation currently has a market capitalization of $1420M USD. Despite a negative P/E ratio of -6.63, the company has shown promising signs of growth with a 27.83% increase in revenue over the last twelve months as of Q3 2023. However, it’s worth noting that the company’s operating income, adjusted for Q3 2023, stands at a negative $216.83M USD.
Two InvestingPro Tips that seem particularly relevant here are that Twist Bioscience holds more cash than debt on its balance sheet, a positive sign for investors, but is quickly burning through cash. Moreover, the company has seen a significant return over the last week, which aligns with the recent uptick in share prices following the announcement of their Q4 results.
For those interested in a deeper analysis, InvestingPro offers an array of additional tips and data points. Currently, InvestingPro is running a special Black Friday sale where subscriptions are available with up to 55% off. This is a great opportunity for investors who want to stay informed and make data-driven decisions.
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