Investor Day: AI Durability & Platform Leverage Drive Strong Long-Term Outlook

研报英文原文证据摘录

Investor Day: AI Durability & Platform Leverage Drive Strong Long-Term Outlook

ity to drive continued improvements

in cost, throughput, and turnaround time without requiring step-function capital investment.

Financially, the new long-term outlook of more than doubling revenues from FY27-FY31 was

described as a floor and not the ceiling, which leaves room for additional upside. The updated

outlook implies strong growth and meaningful margin expansion, with management targeting

>60% gross margins and >75% incremental drop-through as revenues scale. The capacity

profile (> $1B within the existing footprint vs prior $700M) further de-risks the path to growth,

while balanced contributions from both DSPS and NGS reinforce diversification.

Taken together, we believe the combination of accelerating AI-driven demand, improving unit

economics, and capital-efficient scaling should continue to drive confidence in the durability

and quality of growth across both segments, further supporting a premium multiple vs. peers

given Twist’s differentiated positioning at the intersection of AI and wet lab infrastructure.

Reiterate Buy.

Site Tour: The Factory Of The Future Is A Clear Reflection Of Twist's Advantages & Operating

Philosophy

The Investor Day began with a site tour offering an impressive display of their automation,

throughput, and leverage. Twist now looks positioned to reap the rewards of the facility for

the foreseeable future with minimal CapEx. There was a strong emphasis on continuous

improvements, automating as many workflows as possible, and using bespoke in-house

developed tools/software to create a competitive moat.

Front End: The Silicon Platform & DNA Synthesis Engine Are The Stars Of The Show