Twist Bioscience Corporation Common Stock 2026 Global Healthcare Conference

Hello, thanks for the invitation and the introduction. Yes, at Twist, we built a technology that miniaturizes the chemistry of making DNA. DNA has four letters, ACGT, and we have a printer that has four color print heads, the A head, the C head, the G, and the T. Then we print on a silicon chip in the square, the size of two iPhones, or the new iPhone Duo. Typically, people can synthesize 96 pieces of DNA. At Twist, because we have miniaturized it, we can make 1 million pieces. So we are a foundry. That means that the strategy for Twist is to bring more volume on the chip. It is kind of like, the concept of a plane.

If you fly an empty plane, it is bad, but once the plane is flying, if you can sell an extra seat, that extra seat is basically almost 100% gross margin. So we have been on a journey to add more and more products, all made from the same chips, that serve lots of applications. If you look at 2021, the product portfolio, compared to 2026, we have added so many products that our SAM grew from $2 billion in 2021 to $7 billion in 2026, and it is going to $13 billion in the future. We are serving a number of markets. We have, of course, a small part in the academic market, and our big focus is around diagnostic tools, enabling especially cancer diagnostic, but also rare disease, as well.

So that is our NGS applications division, as well as our DNA synthesis and protein solution division, where there, we are serving mostly the therapeutics drug discovery. We have had great growth over the last few years, 23% growth in Q4, I think. Q3, sorry. Q3, 23% growth in Q3. We just reported it. Then for Q4, I think our implied growth from the guide was 25%, and more than 20% growth for 2026. As a reminder, our fiscal year ends in September. A big deal for us that we told investors is we are going to be profitable in Q4. So there is 15 days left, in 15 days, we are profitable. We need 30 more days to close the books to prove it, but come hell or high water, our goal is to be adjusted EBITDA break-even in Q4.

Yeah. In DSPS, it starts with D, which is DNA synthesis and protein solutions. That was where we started. We have many flavors of DNA. You can have it as a pool, you can have it as an array, it can be clonal, non-clonal. You don't need to know all the details, but basically, it's like Starbucks. There's a million ways to order your coffee. You go on the website at Twist, and there's many ways to order your DNA. What has happened is, and especially with AI drug discovery, people have been coming to us saying, "You know what? I get your DNA, but then I have to make a protein. Can you make the protein for us?

We've been taking the DNA we made, and then we'll apply the automated and high throughput ways to express the DNA into proteins. Again, there are many flavors. Some people, they want a CHO expression, some they want a HEK expression, some they want a cell-free expression. Again, we'll do whatever you want. That has been a fast product group for us. Some customers are saying, "Actually, I don't want the protein. I just want the data. Can you just analyze this and send us the data?" That's what we've been doing, where we take the protein we just made, and then we take the target that the customers want, and we can provide them binding data, expressibility data, developability data, epitope meaning. Whatever data they want, and then we sell data.

What's happening is maybe when we sold the DNA, maybe we'll have gotten $50. When we sold the prep DNA, that would have been $100. When we sold the protein, that would have been $200. Now with data, depending on what they want, it can be $300 to $500 of data. As we go up the value chain- and serve people further in drug discovery, we are able to extract more value, and that has been a great source of growth for us.

Yeah, maybe I can add some context/clarification.

Yeah. What we said was in 2025, we had $25 million of orders.

At the Investor Day in May, we said that we had visibility that we will be able to have triple-digit percentage growth in 2026. In August, because we have more visibility, we believe that we will be able to do triple percentage growth again in 2027.

Yeah. That visibility comes from us, of course, talking to our customers, but also studying our cohorts.