Twist Bioscience Corp (NASDAQ:TWST) stock fell 0.57% (As on November 19, 11:22:25 AM UTC-4, Source: Google Finance) after the company posted higher than expected results for the fourth quarter of FY 24. The company shipped products to approximately 3,562 customers in fiscal 2024, compared to approximately 3,450 in 2023. Twist shipped approximately 772,000 genes in 2024 compared to approximately 634,000 genes a year ago. Total orders received for the fourth quarter of fiscal 2024 grew 24% to $88.2 million compared to $71.1 million for the same period of fiscal 2023. Gross margin improved to 45.1%, up from 36.6% a year ago. Net loss attributable to common stockholders for the fourth quarter of fiscal 2024 decreased to $34.7 million compared to $46.2 million for the same period of fiscal 2023.

Moreover, SynBio revenue grew 28% to $33.9 million for the fourth quarter of fiscal 2024 compared to $26.5 million for the same period of fiscal 2023. NGS revenue grew 23% to $45.5 million for the fourth quarter of fiscal 2024 compared to $37.1 million for the same period of fiscal 2023. Biopharma revenue was $5.3 million for the fourth quarter of fiscal 2024 compared to $3.4 million for the same period of fiscal 2023. Gross margin for the fourth quarter of fiscal 2024 increased to 45.1% compared to 36.6% for the same period of fiscal 2023.

TWST in the fourth quarter of FY 24 has reported the adjusted loss per share of 59 cents, missing the analysts’ estimates for the adjusted loss per share of 73 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 27 percent to $84.71 million in the fourth quarter of FY 24, beating the analysts’ estimates for revenue by 2.59%. Adjusted EBITDA for the fourth quarter of fiscal 2024 was $(17.0) million compared to $(26.4) million for the same period of fiscal 2023

Twist Bioscience expects fiscal year 2025 sales of $367 million – $377 million, up 17% – 20% year over year, versus a consensus of $371.42 million.

On the other hand, the company has entered into a royalty purchase agreement with XOMA Royalty Corporation for $15 million cash in October 2024. The company has expanded DNA synthesis offering with the launch of Gene Fragments with increased lengths ranging from 1.8kb to 5.0kb. For the first quarter, Twist expects total revenue to be of approximately $87 million.