Twist Bioscience (TWST) 46th Annual William Blair Growth Stock Conference summary

Strategic overview and technology differentiation

• Utilizes silicon-based technology for DNA synthesis, enabling production of 1 million oligos per chip, vastly outpacing competitors by a factor of 10,000.

• Focuses on two main product groups: DNA synthesis/protein solutions and NGS applications, both leveraging the same silicon platform.

• Continuous product innovation and automation have reduced reagent use by 70% and costs by 60% since 2023.

• Automation advancements doubled production capacity while reducing required space and headcount.

• Strategy centers on expanding product offerings and applications to maximize chip utilization and market reach.

Market expansion and growth drivers

• Addressable market expected to grow from $2B in 2020 to $13B by 2030, with oncology diagnostics and AI-driven drug discovery as key growth areas.

• AI-enabled drug discovery contributed $25M of $66M order growth in 2025, with personalized medicine and nucleic acid therapeutics adding $2B in new opportunities.

• Thousands of SKUs and diversified customer base ensure resilient and durable top-line growth.

• NGS applications and DNA synthesis/protein solutions both contribute strongly to revenue, with 13 consecutive quarters of sequential growth.

• New product launches in mRNA, complex genes, and antisense oligonucleotides planned to further expand market presence.

Financial performance and operational discipline

• Achieved $111M in Q2 revenue, with a 33% CAGR over six years and 20% growth last year.

• Gross margin improved from 32% to over 52%, with a target of 60% and flat OpEx supporting profitability.

• Adjusted EBITDA breakeven targeted for Q4, driven by operational efficiencies and diversified revenue streams.

• Revenue growth supported by both direct sales and partnerships, including enabling competitors to resell under their own brands.

• Financial discipline and automation have enabled increased productivity and customer reach without significant headcount growth.