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Twist Bioscience cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow−$8.6M in Q3 FY26 · −$93.1M over twelve months

Operating cash flow$1.1M
Capital spending−$9.8M
Free cash flow−$8.6M
Cash conversion cycle80 days

Analysis

In Q3 FY26, Twist Bioscience generated $1.1M of operating cash flow and spent $9.8M on capital projects, leaving free cash flow of −$8.6M. That is $1.9M more than in Q3 FY25 (−$10.6M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$53.1M; the largest uses were operating cash flow ($53.1M), capital spending ($40.1M), other investing ($5.2M); besides operations, cash came from shares issued ($9.7M), other financing ($4.1M); the cash balance fell by $84.3M.

Operating cash flow was $1.1M against net income of −$35.1M. The largest differences: stock-based pay +$18.2M, employee-related liabilities +$7.9M, depreciation & amortization +$6.8M.

Its cash conversion cycle was 80 days (receivables 50 + inventory 56 − payables 26).

Free cash flow

Twist Bioscience: free cash flow by quarterTwist Bioscience: free cash flow by quarter−$17.3MQ4 FY24−$23.7MQ1 FY25−$17.1MQ2 FY25−$10.6MQ3 FY25−$24.2MQ4 FY25−$34.8MQ1 FY26−$25.4MQ2 FY26−$8.6MQ3 FY26
Operating cash flow less capital spending.
Twist Bioscience: operating cash flow against capital spendingTwist Bioscience: operating cash flow against capital spendingOperating cash flowCapital spending−$15.3M$2.0MQ4 FY24−$21.4M$2.3MQ1 FY25−$13.0M$4.1MQ2 FY25−$1.4M$9.2MQ3 FY25−$11.8M$12.4MQ4 FY25−$24.8M$10.0MQ1 FY26−$17.6M$7.9MQ2 FY26$1.1M$9.8MQ3 FY26
Latest (Q3 FY26): Operating cash flow $1.1M, Capital spending $9.8M.

Capital allocation, year by year

Twist Bioscience: where the cash came from (up) and went (down), by fiscal yearTwist Bioscience: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY21: Operating cash flow −$112MFY21: Net borrowing −$3.3MFY21: Shares issued $338MFY21: Capital spending −$27.1MFY21: Acquisitions −$483K$338MFY21FY22: Operating cash flow −$124MFY22: Net borrowing −$1.6MFY22: Shares issued $276MFY22: Capital spending −$102MFY22: Acquisitions −$8.2M$276MFY22FY23: Operating cash flow −$142MFY23: Shares issued $1.4MFY23: Capital spending −$27.8M$1.4MFY23FY24: Operating cash flow −$64.1MFY24: Shares issued $7.1MFY24: Capital spending −$5.1M$7.1MFY24FY25: Operating cash flow −$47.6MFY25: Shares issued $9.3MFY25: Asset sales $2.5MFY25: Capital spending −$28.0M$11.8MFY25
Over these 5 years operating cash flow totalled −$491M; the largest uses were operating cash flow ($491M) and capital spending ($190M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$167M
Debtnone
Net cash$167M
Cash runway21 months

Twist Bioscience is burning cash: its operations consume cash, a free cash flow of −$93.1M a year at the current rate against $167M of cash and investments: a runway of about 21 months before any new financing.

Where the cash came from and went

Twist Bioscience: sources (+) and uses (−) of cash, Q3 FY26Twist Bioscience: sources (+) and uses (−) of cash, Q3 FY26Capital spending−$9.8MCash drawn (+) / kept (−)$5.3MShares issued$3.8MOperating cash flow$1.1MOther investing−$435KExchange rates$10KOther financing−$6K
Twist Bioscience: sources (+) and uses (−) of cash, TTM to Q3 FY26Twist Bioscience: sources (+) and uses (−) of cash, TTM to Q3 FY26Cash drawn (+) / kept (−)$84.3MOperating cash flow−$53.1MCapital spending−$40.1MShares issued$9.7MOther investing−$5.2MOther financing$4.1MExchange rates$176K

From profit to cash

Twist Bioscience: net income to operating cash flow, Q3 FY26Twist Bioscience: net income to operating cash flow, Q3 FY26Net income−$35.1MDepreciation & amortization$6.8MStock-based pay$18.2MOther non-cash$161KReceivables−$1.1MInventory−$1.6MPayables$3.0MAccrued liabilities$2.9MEmployee-related liabilities$7.9MPrepaid and other assets−$99KOperating cash flow$1.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY2650562680
Q2 FY2646562379
Q1 FY2648572282
Q4 FY2550522279
Q3 FY2547482074
Q2 FY2543431571
Q1 FY253848977
Q4 FY243652880

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$1.1M−$9.8M$3.8M$5.3M−$8.6M
Q2 FY26−$17.6M−$7.9M$1.8M$26.1M−$25.4M
Q1 FY26−$24.8M−$10.0M$300K$34.4M−$34.8M
Q4 FY25−$11.8M−$12.4M$3.8M$18.5M−$24.2M
Q3 FY25−$1.4M−$9.2M$1.8M$9.0M−$10.6M
Q2 FY25−$13.0M−$4.1M$772K$11.1M−$17.1M
Q1 FY25−$21.4M−$2.3M$3.0M$5.1M−$23.7M
Q4 FY24−$15.3M−$2.0M$1.9M$12.9M−$17.3M

Twist Bioscience: income statement and cash flow

Twist Bioscience, Q3 FY26: revenue $118M (+23% year over year), operating margin -30.6%. The chart follows the revenue to costs, profit and cash.

Twist Bioscience: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.