Why Is DNA Synthesis Company Twist Bioscience Stock Trading Higher Today?



Twist Bioscience Corp (NASDAQ:TWST) shares are trading higher after the company released first-quarter 2024 earnings and increased its FY24 revenue guidance.

The DNA synthesis company reported first-quarter sales of $71.5 million, up 32% Y/Y from $54.2 million a year ago, beating the consensus of $67.58 million and the management guidance of $67 million-$68 million.

The company reported an EPS loss of $(0.75), better than the consensus of $(0.78). For the quarter, the gross margin came in at 40.5%.

Total orders received for the first quarter of fiscal 2024 increased to $77.5 million compared to $64.7 million a year ago.

The company shipped products to 2,140 customers compared to approximately …

Full story available on Benzinga.com


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