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Twist Bioscience supplies companies and laboratories with DNA and tools used in research, product development and genetic testing. Tools that prepare samples for next-generation sequencing (NGS) bring in most of its revenue; custom-made synthetic genes are the next-largest source. Healthcare customers supply most revenue, with chemicals and materials companies and academic researchers also important buyers.
Twist makes DNA by running many chemical synthesis reactions in parallel on silicon chips. Customers buy genes and DNA fragments made to their specifications, rather than making them themselves, while diagnostic companies and research laboratories buy its sequencing preparation kits and panels. Twist also earns a smaller share of revenue from helping biopharma customers discover and develop antibodies, charging service and licensing fees, with some agreements providing payments when projects reach specified milestones.
Sales depend on customers’ research budgets and repeat orders, generally without long-term commitments to buy specified quantities. A limited number of large customers provide a significant share of revenue. A substantial part of sequencing-tool sales supports blood-based cancer testing, making demand sensitive to those tests’ clinical usefulness and reimbursement. Production also relies on a single supplier for a critical DNA-synthesis component. In the United States, Twist’s research-use-only products are labeled for research, not clinical diagnosis, even when customers incorporate them into their own testing workflows.
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Twist Bioscience's results hinge on sequencing-workflow demand and synthetic DNA adoption; GenScript is an important direct synthetic-biology rival missing from this list.
Illumina benefits from the sequencing work that Twist's preparation tools enable, but also competes to sell preparation kits to research and clinical laboratories. Watch Illumina's sequencing consumables demand for a read on laboratory activity behind Twist's NGS tools, which supplied 55% of revenue in the year ended September 30, 2025.
Azenta competes directly for the research and product-development customers who buy Twist's synthetic genes. Its Multiomics business sells gene synthesis services, so that business—not sample storage—is the relevant place to watch competition with Twist.
Danaher competes with Twist through Integrated DNA Technologies, which sells synthetic DNA and products that select the DNA regions to be sequenced, known as NGS target enrichment. Those two product lines are the direct competitive overlap to watch.
Thermo Fisher Scientific competes for customers buying Twist's sequencing sample-preparation tools and, through GeneArt, synthetic genes. Its sample-preparation and GeneArt offerings are the products to watch for competition with Twist.
Agilent Technologies competes with Twist for genomics laboratories' spending on products that prepare samples for sequencing. Watch its genomics sample-preparation offerings: Agilent identifies product performance, support and price among the factors on which it competes.
QIAGEN competes with Twist to supply tools that prepare DNA samples and select regions for sequencing—NGS library preparation and target enrichment. These products, rather than QIAGEN's broader sample-testing portfolio, are the direct overlap to watch.
GRAIL depends on Twist as its sole DNA-panel supplier for sequencing-based testing, making its testing activity relevant to Twist's customer demand. Watch news on testing and clinical studies: supply disruptions can delay those operations.
Ginkgo Bioworks uses Twist's synthetic DNA for cell-engineering work, and both depend on customers funding engineered-biology projects. Ginkgo sells research services and tools rather than customers' finished products, making cell-engineering project spending the relevant demand to watch.
10x Genomics and Twist both depend on genomics research spending: 10x sells consumables for studying individual cells and their locations in tissue, while Twist sells sequencing-preparation tools. Watch 10x's research consumables demand as a signal of experiment activity among academic, government and biopharma customers.
Pacific Biosciences and Twist both benefit from more sequencing activity: PacBio sells instruments and repeatedly purchased reagents to scientific and clinical researchers, while Twist supplies sample-preparation tools. PacBio's sequencing reagent demand is the line to watch for ongoing experiment activity, rather than instrument purchases alone.
AbCellera competes with Twist for partners paying to discover antibodies, with research payments and potential later rewards tied to successful drugs. Watch AbCellera's partner-program progress: its agreements can bring milestones and royalties, while Twist earns service and licensing fees and can receive success-based milestones.
OmniAb competes with Twist to help pharmaceutical and biotechnology companies discover antibodies, charging for technology access and research services with potential payments as projects advance. Watch its partner agreements and milestone progress; OmniAb can also receive royalties if partner products reach the market.
Danaher Corporation earningsDHR
Danaher's Integrated DNA Technologies also sells synthetic DNA and NGS target-enrichment products, so its report can shed light on demand and competition for Twist's comparable products.
Look for any sales or demand detail on IDT's synthetic DNA and NGS target-enrichment products. Strength would show that customers are buying in these markets, but also that a competitor is winning orders. Weakness would point to pressure on Twist's comparable products only if category demand is broadly soft; a competitor's decline alone does not mean Twist is gaining. The takeaway is to separate market demand from competitive share.
GRAIL, Inc. earningsGRAL
GRAIL uses Twist's DNA panels for sequencing-based tests, so its report can show whether this customer's testing activity supports demand for those products.
Watch GRAIL's reported testing activity and clinical-study progress. More testing or study activity would suggest a broader base of use for the DNA panels and support the customer-demand signal for Twist; less activity would weaken that signal, but would not prove Twist's orders fell. The takeaway is whether GRAIL's business activity supports this customer-specific source of demand for Twist.
Twist Bioscience Corporation earningsThis company
Twist's NGS tools and synthetic genes generate most of its revenue, and this report will show whether sales growth in those products is improving manufacturing economics.
Read revenue from NGS tools and synthetic genes alongside gross margin. Growth in both product lines with a steady or rising margin would show that sales and manufacturing improvements are working together; rising sales with a falling margin would show that the added revenue is not yet improving production economics. The question is whether growth in Twist's core products is making its manufacturing business more efficient.
