Twist Bioscience (TWST) The 44th Annual William Blair Growth Stock Conference summary

Strategic focus and business model

• Emphasizes scalable, profitable growth through strong commercial execution and operational excellence.

• Utilizes a silicon chip platform enabling high-throughput DNA synthesis, supporting expansion into protein and RNA products.

• E-commerce technology enhances user experience and supports premium pricing for differentiated products.

• High fixed costs create a barrier to entry, while low variable costs drive margin expansion as revenue grows.

• Clear path to profitability with disciplined OpEx and cash management.

Product portfolio and innovation

• Four business groups: SynBio, NGS, Biopharma Solutions, and DNA Data Storage.

• SynBio products serve pharma, biotech, industrial, and academic markets, with leadership in speed, scale, and sustainability.

• NGS products target diagnostics, offering high-quality reagents that reduce sequencing costs and enable rapid customization.

• Biopharma Solutions integrates in vivo, in vitro, and AI for drug discovery, fostering sticky customer relationships.

• DNA Data Storage group develops ultra-dense, long-term archival solutions, with terabyte-scale chips expected for early access in 2025.

Market opportunity and customer base

• Addressable market for DNA writing is $500M, with $1.4B potential from customers currently making their own DNA.

• NGS reagent market for liquid biopsy estimated at $300M and growing rapidly.

• 3,400 customers last year, with over 50% in healthcare and significant growth potential in academia and the broader market.

• E-commerce and Express Genes expected to drive penetration into the long tail of 100,000 potential customers.