Twist Bioscience is a biotechnology company specializing in DNA synthesis, offering innovative solutions for the life sciences, biotechnology, and industrial sectors. Their core technology is based on a proprietary silicon-based platform for synthesizing DNA, enabling the production of high-quality synthetic DNA at scale. Twist Bioscience primarily serves market segments such as Next-Generation Sequencing (NGS), where they provide custom oligonucleotide pools and target enrichment solutions, the BioPharma industry, offering gene synthesis, antibody libraries, and other tools to support drug discovery and development, and SynBio. The later is where the company has expanded into certain novel synthetic biology segments, like agricultural biotechnology (AgBio), and data storage using DNA.
In certain segments, Twist faces competition from companies such as GenScript and Genewiz, which also provide DNA synthesis services, e.g. for BioPharma applications. Genewiz was acquired by Brooks Automation in 2018. Brooks Automation later rebranded its life sciences division as Azenta Life Sciences, under which GENEWIZ now operates These competitors have established themselves in overlapping markets, focusing on gene synthesis, NGS solutions, and biopharmaceutical tools. Despite this competitive landscape, Twist has differentiated itself through its cutting-edge technology and expansive product offerings.
In contrast to the markets that Twist Bio tailors to, Ginkgo Bioworks specializes in designing and programming organisms using synthetic biology, targeting industries such as agriculture, consumer goods, pharmaceuticals, and industrial chemicals, with a broader focus on custom strain development and bioengineering for large-scale applications. While Twist provides foundational tools for genetic work, Ginkgo delivers end-to-end organism engineering solutions tailored to specific industrial needs.
Below I’ll highlight the presentation that Twist Bio TWST 0.00%↑ gave at JPM25.
As briefly mentioned, Twist developed a DNA on Silicon synthesis platform, which allows them to produce a large amount of short single-stranded DNA molecules that they can decouple from the chip and either sell as individual units (DNA oligos) or combine together into larger molecules.
Being able to synthesize these DNA oligos is a technological advantage over other lower throughput methods, but still, the money is in developing what to do with those oligos to capture more revenue from End Markets. Twist now is in a path of growth towards the $1B in revenue milestone.
The company wants to cross the threshold to profitability, aiming at the adjusted EBITDA breakeven via a combination of continued revenue and margin growth, with more platform enhancements and new products fueling the growing markets.
There has been a growth in revenue, 75-80% of incremental revenue growth as well as gross margin growth. Twist’s FY 2024 revenue reached $313M, with a 43% growth margin, which compared favourably to the 32% in 2020. The company is giving a 2025 guidance of $367-377M with 48% GM. Given the 2024 results, the trajectory is upwards, which can be seen in the quarterly revenue figures.
Below I’ll show more details of the JPM2025 presentation, how Twist Bio fits in the ecosystem of SynBio/DNA Write and where I think the company can go from here.