secwatch / observer
8-K filed May 5, 2023, 7:59 PM ET ticker TWST CIK 0001581280
earnings confidence high sentiment negative materiality 0.85

Twist Bioscience Corp (TWST): restructuring charge — Twist Bioscience Q2 revenue record $60.2M (+25% YoY); cuts 270 jobs (~25% workforce)

Twist Bioscience Corp

2023-Q2 EPS reported -$1.78 revenue$114,423,000

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Twist Bioscience Corp reported fiscal second quarter ended March 31, 2023 results: revenue Total revenues for the second quarter of fiscal 2023 were $60.2 million compared to $48.1 million for the same period of, net income Net loss attributable to common stockholders for the second quarter of fiscal 2023 was $59.2 million, or $1.04 per share, EPS $1.04 per share.

Period
fiscal second quarter ended March 31, 2023
Revenue
Total revenues for the second quarter of fiscal 2023 were $60.2 million compared to $48.1 million for the same period of
Net income
Net loss attributable to common stockholders for the second quarter of fiscal 2023 was $59.2 million, or $1.04 per share
EPS
$1.04 per share
Result
reported results
Exact text from the filing
Total revenues for the second quarter of fiscal 2023 were $60.2 million compared to $48.1 million for the same period of fiscal 2022
View on SEC.gov
Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Twist Bioscience Corp reported fiscal second quarter ended March 31, 2023 results: revenue Total revenues for the second quarter of fiscal 2023 were $60.2 million compared to $48.1 million for the same period of, net income Net loss attributable to common stockholders for the second quarter of fiscal 2023 was $59.2 million, or $1.04 per share, EPS $1.04 per share.

Period
fiscal second quarter ended March 31, 2023
Revenue
Total revenues for the second quarter of fiscal 2023 were $60.2 million compared to $48.1 million for the same period of
Net income
Net loss attributable to common stockholders for the second quarter of fiscal 2023 was $59.2 million, or $1.04 per share
EPS
$1.04 per share
Result
reported results
Exact text from the filing
Net loss attributable to common stockholders for the second quarter of fiscal 2023 was $59.2 million, or $1.04 per share, compared to $60.7 million, or $1.13 per share, for the same period of fiscal 2022
View on SEC.gov
Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Twist Bioscience Corp reported fiscal 2023 results: revenue Record revenue of $60.2M in 2QFY23; up 25% over $48.1M in 2QFY22.

Period
fiscal 2023
Revenue
Record revenue of $60.2M in 2QFY23; up 25% over $48.1M in 2QFY22
Result
guidance update
Exact text from the filing
expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Twist Bioscience Reports Fiscal Second Quarter 2023 Financial Results – Record revenue of $60.2M in 2QFY23; up 25% over $48.1M in 2QFY22 – – Orders increased to $64.2M in 2QFY23; up 17% over 2QFY22 – -- Decisive Actions to Accelerate Path to Profitability -- SOUTH SAN
View on SEC.gov
Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Twist Bioscience Corp announced a restructuring with charges of between $9 and $11 million affecting worldwide (approximately 270 employees).

Type
restructuring
Charge
between $9 and $11 million
Affected area
worldwide
Headcount
approximately 270 employees
Exact text from the filing
On May 3, 2023, the Company’s board of directors approved a strategic restructuring plan, which includes a reduction in force affecting approximately 270 employees worldwide, representing approximately 25% of the Company’s total workforce. The Company expects the plan to be implemented beginning in the third quarter of fiscal year 2023 and substantially completed by the end of fiscal year 2023. The Company expects to incur pre-tax charges of between $9 and $11 million, consisting of cash expenditures for employee severance and related benefit costs.
View on SEC.gov

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Twist Bioscience Corp filing history →

Source: SEC EDGAR
accession 0001628280-23-015988
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