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Twist Bioscience vs Immunocore Holdings: TWST and IMCR compared
Twist Bioscience is the larger company: $118M of revenue in its latest quarter (Q3 FY26) against $102M for Immunocore Holdings (Q3 2026). Twist Bioscience is growing faster (+23% against -1% a year earlier). Immunocore Holdings is more profitable, with an operating margin of -13.3% against -30.6%.
Where the money goes: TWST and IMCR
Twist Bioscience (TWST) · Q3 FY26
Twist Bioscience, Q3 FY26: revenue $118M (+23% year over year), operating margin -30.6%, net loss $35.1M, operating cash flow $1.1M. The chart follows the revenue to costs, profit and cash.
Immunocore Holdings (IMCR) · Q3 2026
Immunocore Holdings, Q3 2026: revenue $102M (-1% year over year), operating margin -13.3%, net loss $14.2M, operating cash flow $20.1M. The chart follows the revenue to costs, profit and cash.
| Twist Bioscience (TWST) | Immunocore Holdings (IMCR) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $118M | $102M |
| Revenue growth, Y/Y | +23% | -1% |
| Operating margin | -30.6% | -13.3% |
| Net earnings | −$35.1M | −$14.2M |
| Net margin | -29.6% | -13.9% |
| Operating cash flow | $1.1M | $20.1M |
| Free cash flow | — | $17.7M |
| Market value | $10.0B | $1.5B |
| Analysts’ mean target | $168.25 | $58.33 |
Where the revenue comes from
Twist Bioscience
- NGS applications: $61.8M (52%)
- DNA synthesis and protein solutions: $56.6M (48%)
Questions
Which is bigger, Twist Bioscience or Immunocore Holdings?
Twist Bioscience is the larger company: $118M of revenue in its latest quarter (Q3 FY26) against $102M for Immunocore Holdings (Q3 2026).
Is Twist Bioscience or Immunocore Holdings growing faster?
Twist Bioscience is growing faster (+23% against -1% a year earlier).
Which is more profitable, Twist Bioscience or Immunocore Holdings?
Immunocore Holdings is more profitable, with an operating margin of -13.3% against -30.6%.
More: Twist Bioscience earnings · how Twist Bioscience makes money · Immunocore Holdings earnings · how Immunocore Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 3, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.