Twist Bioscience Corporation

Q3 fiscal 2026 revenue was $118.4 million, up 23% year over year, marking the company’s 14th consecutive quarter of revenue growth. Gross margin was 52.8%, up 120 basis points sequentially, and adjusted EBITDA was a loss of approximately $11.3 million. DNA Synthesis and Protein Solutions revenue was $56.6 million, up 39% year over year, and NGS applications revenue was approximately $61.8 million, up 12% year over year. For the full year, Twist raised fiscal 2026 revenue guidance to $456 million to $457 million, and Q4 revenue guidance to $123 million to $124 million, both implying roughly 21% and 25% growth year over year at the midpoint, respectively. Management continued to expect adjusted EBITDA breakeven in Q4 and said full fiscal 2027 guidance will be provided in November.

Emily Leproust framed the quarter as evidence that Twist’s platform is increasingly central to AI-enabled drug discovery, diagnostics, and other biology workflows. She said AI discovery is moving from an emerging opportunity to a durable growth engine, with customers shifting from model-building to repeat iterative cycles and expanding into new modalities. Her tone was confident and expansive, emphasizing that customer demand is strengthening and that Twist believes its market opportunity is still early.

Adam Laponis said Q3 revenue reached $118.4 million with gross margin of 52.8%, while adjusted EBITDA was a loss of about $11.3 million due to planned one-time investments. He noted operating expenses excluding cost of revenues were $98.7 million, including about $2 million of employee transition costs and other one-time expenses that should drive more than a $5 million reduction in OpEx in Q4. He also highlighted ending cash, cash equivalents and short-term investments of $166.8 million, down from $171.7 million at March 31, 2026, and reiterated that the company expects adjusted EBITDA breakeven in Q4 while continuing to improve into fiscal 2027.

Analysts focused on the sustainability of AI-enabled discovery growth, the conversion of AI orders into revenue, and whether Twist can maintain EBITDA improvement into fiscal 2027. Management said AI projects now have better visibility because customer engagements are larger, more transparent, and often governed by MSAs, and noted that order and revenue timing is becoming more aligned after some lag in fiscal 2025. Questions also pressed on therapeutics growth and competitive pressure; management responded that the growth is shifting toward smaller antibody-type sequences, that competition is not a major concern, and that Twist’s advantage is in scale, speed, data capability, and the breadth of its offering.