Twist Bioscience Corp
For the period ended Sep 30, 2025. Filed Nov 17, 2025.
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FY2025 · Filed Nov 17, 2025
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Item 8. Consolidated Statements of Cash Flows
| Year ended September 30, | |||
|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2023 |
| Operating activities | |||
| Net loss | $(77,670) | $(208,726) | $(204,618) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation and amortization expense | $24,853 | $31,432 | $29,310 |
| Impairment of long-lived assets | — | 44,930 | 6,785 |
| Non-cash lease expense, net of tenant improvement allowance | (20) | 940 | 2,573 |
| Stock-based compensation expense | 64,459 | 50,925 | 30,278 |
| Change in fair value of contingent considerations and holdbacks | — | — | (5,913) |
| Gain on sale of business | (48,847) | — | — |
| Other non-cash adjustments | 2,203 | 994 | 120 |
| Changes in assets and liabilities: | |||
| Accounts receivable, net [1] | (22,382) | 8,444 | (4,320) |
| Inventories | (4,229) | 7,986 | 7,238 |
| Prepaid expenses and other current assets [2] | (3,717) | 382 | (4,166) |
| Other non-current assets | (1,568) | 431 | 1,376 |
| Accounts payable | 9,332 | (11,805) | (2,508) |
| Accrued expenses | 5,751 | 4,415 | 2,578 |
| Accrued compensation | (2,405) | 7,875 | (1,099) |
| Other liabilities [3] | 6,612 | (2,317) | (108) |
| Net cash used in operating activities | $(47,628) | $(64,094) | $(142,474) |
| Investing activities | |||
| Purchases of property and equipment | $(28,004) | $(5,076) | $(27,779) |
| Purchases of investments | (49,393) | (51,905) | (76,345) |
| Proceeds from maturity of investments | 50,135 | 53,910 | 154,736 |
| Proceeds from sale of business | 2,500 | — | — |
| Net cash provided by (used in) investing activities | $(24,762) | $(3,071) | $50,612 |
| Financing activities | |||
| Proceeds from exercise of stock options | $9,343 | $7,100 | $1,379 |
| Proceeds from the issuance of liability related to sale of future revenue | 15,000 | — | — |
| Proceeds from issuance under employee stock purchase plan | 4,213 | 3,765 | 3,937 |
| Repurchases of common stock for income tax withholding | (16) | (3,975) | (4,405) |
| Net cash provided by financing activities | $28,540 | $6,890 | $911 |
| Effect of exchange rates on cash, cash equivalents and restricted cash | $143 | $126 | $(27) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (43,707) | (60,149) | (90,978) |
| Cash, cash equivalents, and restricted cash at beginning of year | 229,132 | 289,281 | 380,259 |
| Cash, cash equivalents, and restricted cash at end of year | $185,425 | $229,132 | $289,281 |
| Supplemental disclosure of cash flow information | |||
| Income taxes paid, net of refunds | $683 | $344 | $420 |
| Non-cash investing and financing activities | |||
| Property and equipment additions included in accrued expenses and accounts payable | $2,408 | $92 | $772 |
| Year ended September 30, | |||
|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2023 |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | — | — | 6,676 |
| Issuance of common stock in connection with the business acquisition | — | — | 5,860 |
| Tenant improvement allowance capitalized in property and equipment | — | 2,719 | — |
| Equity securities received as consideration for sale of business | 53,890 | — | — |
| Promissory note receivable received as consideration for sale of business | 1,696 | — | — |
| Conversion of convertible notes | — | — | 3,711 |
[1]Including changes in the related parties' balances of $(0.8) million, $1.2 million and $(1.7) million for the years ended September 30, 2025, 2024 and 2023, respectively.
[2]Including changes in a related party balances of $(0.3) million, $— million and $— million for the years ended September 30, 2025, 2024 and 2023, respectively.
[3]Including changes in a related party' balances of $0.2 million, $— million and $— million for the years ended September 30, 2025, 2024 and 2023, respectively.
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