Twist reports record Q2 revenue $92.8M; spins out DNA data storage as Atlas with $155M investment

Twist Bioscience Corp

Record Q2 revenue $92.8M (+23% YoY); gross margin 49.6% vs 41.0%.
Net loss $39.3M ($0.66/sh) vs $45.5M ($0.79); adjusted EBITDA loss improved to $(14.8)M.
Spun out DNA data storage as Atlas Data Storage with $155M investment from ARCH, Deerfield, Bezos Expeditions, and others.
Atlas CEO Varun Mehta (ex-Nimble Storage) leads; Twist retains minority stake, $2.5M cash, $2M note, up to $75M milestones.
Guidance: FY2025 revenue $372-379M; expect gross margin >50% in Q4; adjusted EBITDA breakeven by end of FY2026.

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