0001628280-24-034434 | 10-Q | XBRL Viewer

Summary of significant accounting policies

9 Months Ended

Jun. 30, 2024

Summary of significant accounting policies

Basis of presentation and use of estimates

The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information. Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K for the fiscal year ended September 30, 2023 (the Annual Report on Form 10-K) filed with the Securities and Exchange Commission on November 21, 2023. The condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the condensed consolidated financial statements. The condensed consolidated balance sheet at September 30, 2023 is derived from audited consolidated financial statements but does not include all disclosures required by GAAP. The operating results for the three and nine months ended June 30, 2024 are not necessarily indicative of the results expected for the full year ending September 30, 2024 or any interim period.

The presentation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s unaudited

condensed consolidated financial statements include its wholly owned subsidiaries. All intercompany balances and accounts are eliminated in consolidation.

To conform with current fiscal 2024 presentation, we reclassified $3.6 million of impairment of property and equipment included within restructuring and other costs to impairment of long-lived assets in the condensed consolidated statement of operations and comprehensive loss for the three and nine months ended June 30, 2023. This reclassification had no impact on our condensed statement of operations and comprehensive loss for the three and nine months ended June 30, 2023.

The following table provides a reconciliation of the Company’s cash and cash equivalents and non-current portion of restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total cash, cash equivalents and restricted cash shown in the Company’s condensed consolidated statements of cash flows:


(in thousands)	June 30, 2024		September 30, 2023
Cash and cash equivalents	$	239,142	$	286,470
Restricted cash, non-current	2,895		2,811
Total cash, cash equivalents and restricted cash	$	242,037	$	289,281

Restricted cash represents cash held at financial institutions that are pledged as collateral for stand-by letters of credit for lease commitments and is included in non-current assets.

Significant accounting policies

There have been no material changes in the accounting policies from those disclosed in the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K other than disclosed below.

Allowance for Credit Losses

The Company maintains an allowance for credit losses for expected uncollectible accounts receivable and contract assets, which is recorded as an offset to accounts receivable or contract assets and provisions for credit losses are recorded in general and administrative expense in the consolidated statements of income. Under the application of Accounting Standards Codification (“ASC”) Topic 326-20, Financial Instruments—Credit Losses (“ASC 326”), the allowance for current expected credit losses is based on a review of customer accounts and considers historical credit loss information that is adjusted for current economic and business conditions and anticipated future economic events that may impact collectability. In developing its expected credit loss estimate, the Company evaluated the appropriate grouping of accounts receivable and contract assets based upon its evaluation of risk characteristics, including consideration of region and industries of the customers. The allowance for credit losses is reviewed on a quarterly basis to assess the adequacy of the allowance. Allowance for credit losses was $0.7 million as of June 30, 2024.

Short-term investments

The Company invests in various types of securities, including United States government, commercial paper, and corporate debt securities. The Company classifies its investments as available-for-sale and records them at fair value based upon market prices at period end. For available-for-sale debt securities in an unrealized loss position, the Company evaluates whether a current expected credit loss exists based on available information relevant to the credit rating of the security, current economic conditions and reasonable and supportable forecasts. The allowance for credit loss is recorded in other income (expense), net, on the consolidated statements of income, not to exceed the amount of the unrealized loss. Any excess unrealized loss other than the credit loss is recognized in accumulated other comprehensive income or loss in the stockholders' equity section of the consolidated balance sheets. The cost of securities sold is based on the specific identification method and realized gains and losses are included in other income (expense), net. Dividend and interest income are recognized when earned. The Company may sell these securities at any time for use in current operations. There was no allowance for credit losses relating to the short-term investments recognized as of June 30, 2024.

Revenue

The Company had contract assets of $2.6 million and contract liabilities of $2.9 million as of June 30, 2024. The Company had contract assets of $2.8 million and contract liabilities of $3.0 million as of September 30, 2023. For the three and nine months ended June 30, 2024, the Company recognized revenue of $0.7 million and $2.9 million, respectively, from the amount that was included in the contract liability balance at the beginning of each period. For the three and nine months ended June 30, 2023, the Company recognized revenue of $0.6 million and $2.8 million, respectively, from the amount that was included in the contract liability balance at the beginning of each period. In addition, for all periods presented, there

was no revenue recognized in a reporting period from performance obligations satisfied in previous periods. The aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied as of June 30, 2024 was $7.1 million. The Company expects to recognize revenue over the next twelve months relating to performance obligations unsatisfied as of June 30, 2024.

Based on the nature of the Company's contracts with customers, which are recognized over a term of less than 12 months, the Company has elected to use the practical expedient whereby costs to obtain a contract are expensed as they are incurred.

The Company states its revenues net of any taxes collected from customers that are required to be remitted to various government agencies. The amount of taxes collected from customers and payable to governmental entities is included on the balance sheet as part of “Accrued expenses and other current liabilities.”

Recent accounting pronouncements

Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s ASC. The Company considered the applicability and impact of all recent ASUs. ASUs not listed below were assessed and determined to be not applicable to the Company’s consolidated financial position and results of operations.

Recent accounting pronouncements adopted

In June 2016, FASB issued ASU No. 2016-13 “Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments” and has since modified the standard with several ASUs (collectively, “Topic 326”). Topic 326 requires measurement and recognition of expected credit losses for financial assets. The ASU replaced previous incurred loss impairment guidance and established a single expected credit losses allowance framework for financial assets carried at amortized cost. It also eliminated the concept of other-than-temporary impairment and requires credit losses related to certain available-for-sale debt securities to be recorded through an allowance for credit losses. On October 1, 2023, the Company adopted this standard using a modified retrospective approach, which requires a cumulative-effect adjustment to the opening balance of retained earnings to be recognized on the date of adoption and, accordingly, recorded a net increase of $0.1 million to accumulated deficit as of the beginning of fiscal 2024. In connection with the adoption of Topic 326, the Company made an accounting policy election to not measure an allowance for credit losses for accrued interest receivable.

Recently issued accounting pronouncement not yet adopted

In December 2023, the FASB issued ASU No. 2023-09 "Income Taxes (Topic 740)". The amendments in this ASU require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The amendments in this update are effective for annual periods beginning after December 15, 2024. The standard is not expected to have a material impact to the Company's condensed consolidated financial statements.

In November 2023, the FASB issued ASU No. 2023-08 "Segment Reporting (Topic 280)". The amendments in this ASU improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The standard is not expected to have a material impact to the Company's condensed consolidated financial statements.

The Company has evaluated other recently issued accounting pronouncements and has concluded that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

Net loss per share attributable to common stockholders

9 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net loss per share attributable to common stockholders

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders:


	Three months ended June 30,				Nine months ended June 30,
(in thousands, except per share data)	2024		2023		2024		2023
Numerator:
Net loss attributable to common stockholders	$	(85,571)	$	(57,395)	$	(174,071)	$	(158,375)
Denominator:
Weighted average shares used in computing net loss per share, basic and diluted	58,145		57,041		57,806		56,753
Net loss per share attributable to common stockholders, basic and diluted	$	(1.47)	$	(1.01)	$	(3.01)	$	(2.79)

The potentially dilutive common shares that were excluded from the calculation of diluted net loss per share because their effect would have been antidilutive for the periods presented are as follows:


	Three and nine months ended
	June 30,
(in thousands)	2024	2023
Shares subject to options (including performance options) to purchase common stock	2,020	2,546

Unvested restricted stock units and performance stock units	3,552	2,371
Shares subject to employee stock purchase plan	86	78
Total	5,658	4,995

Stock-based compensation - Reserved For Issuance (Details) shares in Thousands	9 Months Ended
	Jun. 30, 2024 shares
Share-Based Compensation Arrangement By Share-based Payment Award, Outstanding [Roll Forward]
Beginning balance (in shares)	539
Additional shares authorized (in shares)	249
Shares issued during the period (in shares)	(124)
Ending balance (in shares)	664

Balance sheet components - Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 22,000	$ 27,024
Work-in-process	2,213	1,113
Finished goods	4,271	3,926
Total inventories	$ 28,484	$ 32,063

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Current assets:
Cash and cash equivalents	$ 239,142	$ 286,470
Short-term investments	50,276	49,943
Accounts receivable, net	31,988	44,064
Inventories	28,484	32,063
Prepaid expenses and other current assets	11,941	11,716
Total current assets	361,831	424,256
Property and equipment, net	106,339	131,830
Operating lease right-of-use assets	61,277	71,531
Goodwill	85,811	85,811
Intangible assets, net	14,741	54,483
Restricted cash, non-current	2,895	2,811
Other non-current assets	5,224	5,681
Total assets	638,118	776,403
Current liabilities:
Accounts payable	6,626	14,052
Accrued expenses	14,838	10,754
Accrued compensation	31,659	25,818
Current portion of operating lease liability	14,555	14,896
Other current liabilities	6,079	7,803
Total current liabilities	73,757	73,323
Operating lease liability, net of current portion	72,625	79,173
Other non-current liabilities	597	475
Total liabilities	146,979	152,971
Commitments and contingencies (Note 6)
Stockholders’ equity
Common stock, $0.00001 par value —100,000 and 100,000 shares authorized at June 30, 2024 and September 30, 2023, respectively; 58,519 and 57,557 shares issued and outstanding at June 30, 2024 and September 30, 2023, respectively	0	0
Additional paid-in capital	1,699,127	1,657,222
Accumulated other comprehensive income	(735)	(756)
Accumulated deficit	(1,207,253)	(1,033,034)
Total stockholders’ equity	491,139	623,432
Total liabilities and stockholders’ equity	$ 638,118	$ 776,403

Net loss per share attributable to common stockholders - Anti-dilutive (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	5,658	4,995
Shares subject to options (including performance options) to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	2,020	2,546
Unvested restricted stock units and performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	3,552	2,371
Shares subject to employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	86	78

Impairment of long-lived assets

9 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Impairment of long-lived assets

During the three months ended June 30, 2024, the Company identified an impairment indicator with respect to an asset group associated with our antibody discovery services product line (“Biopharma asset group”) due to lower than forecasted revenues. Therefore, the Company performed a recoverability test of long-lived assets by comparing the net book value of the long-lived asset group, to the future undiscounted net cash flows attributable to such assets. The Company concluded

that the carrying value of the asset group was not recoverable as it exceeded the future undiscounted cash flows the assets are expected to generate from the use and eventual disposition.

To measure, allocate and recognize the impairment loss, the Company estimated the fair value of the Biopharma asset group by applying a discounted cash flow method. Calculating the fair value of an asset group involves significant estimates and assumptions. These estimates and assumptions include, among others, the level and timing of revenues, operating expenses, taxes, and working capital, capital asset requirements over the remaining life of the primary asset in the asset group, and discount rates, the Company believes to be consistent with the inherent risks associated with the asset group, which was approximately 14%. Changes in these factors and assumptions used can materially affect the amount of impairment loss recognized in the period the asset group was considered impaired.

The implied allocated impairment loss to any individual asset within the long-lived asset group shall not reduce the carrying amount of that asset below its fair value. The Company estimated the fair value of the developed technology intangible asset and the customer relationships intangible assets using an excess earnings model (income approach). The Company estimated the fair value of the trade name intangible asset using a relief from royalty approach. Key assumptions include the level and timing of expected future revenue, conditions and demands specific to each intangible asset over its remaining useful life. The fair value of these intangible assets is primarily affected by the projected revenues, gross margins, operating expenses, and the anticipated timing of the projected income associated with each intangible asset coupled with the discount rates used to derive their estimated present values. The Company determined the fair value of property and equipment based on a market participant perspective. For lease right-of-use assets, the Company determined the estimated fair value of the assets by comparing the discounted contractual rent payments to estimated market rent using an acceptable valuation methodology. Significant assumptions used to determine the fair values of certain lease right-of-use assets included the current market rent and discount rate.

These fair value measurements were based on significant inputs not observable in the market and thus represent a Level 3 measurement. The Company believes the level and timing of expected future cash flows appropriately reflects market participant assumptions.

As a result of allocating the impairment, the Company recorded the following impairment charges, which are included in “Impairment of long-lived assets” on our condensed consolidated statements of operations and comprehensive loss for the three and nine months ended June 30, 2024:


	Three months ended June 30,				Nine months ended June 30,
(in thousands)	2024		2023		2024		2023
Property and equipment	$	9,066	$	3,620	$	9,066	$	3,620
Finite-lived intangible assets	35,864		—		35,864		—
Total	$	44,930	$	3,620	$	44,930	$	3,620

During the three and nine months ended June 30, 2023, the Company recognized impairment of property and equipment. See note 14.

2023 Restructuring and other costs (Details) $ in Millions		3 Months Ended	9 Months Ended
2023 Restructuring and other costs (Details) $ in Millions	May 03, 2023 therapeutic	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected number of positions eliminated \| therapeutic	270
Restructuring and related cost, number of positions eliminated, period percent	25.00%
2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Total		$ 12.7	$ 12.7
2023 Restructuring Plan \| Severance and related benefit costs
Restructuring Cost and Reserve [Line Items]
Total		8.6	8.6
2023 Restructuring Plan \| Asset Impairments
Restructuring Cost and Reserve [Line Items]
Total		3.6	3.6
2023 Restructuring Plan \| Other associated costs
Restructuring Cost and Reserve [Line Items]
Total		$ 0.4	$ 0.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair value measurement

9 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair value measurement

The Company assesses the fair value of financial instruments based on the provisions of ASC 820, Fair Value Measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considering counterparty credit risk in its assessment of fair value.

The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of June 30, 2024:


(in thousands)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Cash and cash equivalents	$	239,142	$	—	$	—	$	239,142
Short-term investments:

U.S. government treasury bills	50,304		—		(29)		50,276
Non-current assets - investment in equity securities	3,711		—		—		3,711
Total	$	293,158	$	—	$	(29)	$	293,129

The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of September 30, 2023:


(in thousands)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Cash and cash equivalents	$	286,470	$	—	$	—	$	286,470
Short-term investments:
Corporate bonds	14,918		—		(29)		14,889
U.S. government treasury bills	35,111		—		(57)		35,054
Non-current assets - investment in equity securities	3,711		—		—		3,711
Total	$	340,210	$	—	$	(86)	$	340,124

As of June 30, 2024, financial assets and liabilities measured and recognized at fair value are as follows:


(in thousands)	Level 1		Level 2		Level 3		Fair value
Assets
Money market funds	$	196,413	$	—	$	—	$	196,413

U.S. government treasury bills	50,276		—		—		50,276
Non-current assets - investment in equity securities	—		—		3,711		3,711
Total	$	246,689	$	—	$	3,711	$	250,400

Total financial liabilities	$	—	$	—	$	—	$	—

As of September 30, 2023, financial assets and liabilities measured and recognized at fair value are as follows:


(in thousands)	Level 1		Level 2		Level 3		Fair value
Assets
Money market funds	$	245,654	$	—	$	—	$	245,654
Corporate bonds	—		14,889		—		14,889
U.S. government treasury bills	35,054		—		—		35,054
Non-current assets - investment in equity securities	—		—		3,711		3,711
Total financial assets	$	280,708	$	14,889	$	3,711	$	299,308

Total financial liabilities	$	—	$	—	$	—	$	—

Contractual maturities of all the investments, as of June 30, 2024, were less than 12 months. The Company does not intend to sell the money market funds and short-term investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis. The Company's short-term investments have been in a continuous unrealized loss position for less than 12 months. Accrued interest receivable balances included in the prepaid expenses and other current assets within the condensed consolidated balance sheets were $1.0 million and $1.2 million as of June 30, 2024 and September 30, 2023, respectively. As of June 30, 2024, the gross unrealized losses on short-term investments are related to market interest rate changes and not attributable to credit.

During 2021 and as amended in 2022, the Company entered into convertible promissory note agreements with a privately held company (“Borrower”) pursuant to which the Company agreed to loan to the Borrower $3.5 million in a series of loan installments, evidenced by a convertible promissory note having a maturity date of May 1, 2023 (“Convertible Note”). The Convertible Note included an option to convert the Convertible Note into the Borrower’s equity at the Borrower’s next round of equity financing, and accrued interest at a rate of 4% per annum. In April 2023, the Company exercised the option and the Borrower issued to the Company ordinary shares which represent a 15% equity interest. As of June 30, 2024, the Company’s equity investments were categorized as Level 3 within the fair value hierarchy.

The equity investment held by the Company is a VIE, but the Company is not the primary beneficiary. The Company does not have the power to direct the activities that most significantly impact the economic performance of the investee. The Company’s maximum exposure to loss from this VIE consist of an equity investment of $3.7 million. Equity investments held by the Company lack readily determinable fair values and therefore the securities are measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar equity securities of the same issuer. The Company reviews the carrying value of its equity investments for impairment whenever events or changes in business circumstances indicate the carrying amount of such asset may not be fully recoverable. Impairments, if any, are based on the excess of the carrying amount over the recoverable amount of the asset. There were no such impairments during the three months ended June 30, 2024 and June 30, 2023.

As of June 30, 2024 and September 30, 2023, there were no financial liabilities categorized as level 3 within the fair value hierarchy. There were no transfers between Level 1, Level 2 and Level 3 in the periods presented.

The following table provides a reconciliation of beginning and ending balances of the Level 3 financial assets during the three months ended June 30, 2024:


(in thousands)	Equity investments		Total
Balance as of September 30, 2023	$	3,711	$	3,711
Change in fair value	—		—
Additions during the year	—		—
Balance as of June 30, 2024	$	3,711	$	3,711

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 107
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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss attributable to common stockholders	$ (85,571)	$ (57,395)	$ (174,071)	$ (158,375)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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+ Details

Impairment of long-lived assets - Impairment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Property and equipment	$ 9,066	$ 3,620	$ 9,066	$ 3,620
Finite-lived intangible assets	35,864	0	35,864	0
Impairment of long-lived assets	$ 44,930	$ 3,620	$ 44,930	$ 3,620

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net loss	$ (174,071)	$ (158,375)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	24,776	20,810
Impairment of long-lived assets	44,930	3,620
Non-cash lease expense	647	1,040
Stock-based compensation	38,578	18,531
Change in fair value of acquisition consideration	0	(5,913)
Other non-cash adjustments	(185)	(33)
Changes in assets and liabilities:
Accounts receivable, net	11,398	(2,508)
Inventories	3,578	2,949
Prepaid expenses and other current assets	(185)	(1,935)
Other non-current assets	472	1,050
Accounts payable	(6,927)	(4,431)
Accrued expenses	4,132	1,278
Accrued compensation	5,932	348
Other liabilities	(1,849)	1,799
Net cash used in operating activities	(48,774)	(121,770)
Cash flows from investing activities
Purchases of property and equipment	(3,074)	(25,386)
Purchases of investments	(30,712)	(58,255)
Proceeds from maturity of investments	32,000	136,500
Net cash (used in) provided by investing activities	(1,786)	52,859
Cash flows from financing activities
Proceeds from exercise of stock options	5,183	1,208
Proceeds from issuance of common stock under employee stock purchase plan	2,047	2,536
Repurchases of common stock for income tax withholding	(3,967)	(3,275)
Net cash provided by financing activities	3,263	469
Effect of exchange rates on cash, cash equivalents and restricted cash	53	21
Net decrease in cash, cash equivalents, and restricted cash	(47,244)	(68,421)
Cash, cash equivalents, and restricted cash at beginning of period	289,281	380,259
Cash, cash equivalents, and restricted cash at end of period	242,037	311,838
Supplemental disclosure of cash flow information
Income taxes paid, net of refunds	363	241
Non-cash investing and financing activities
Property and equipment additions included in accounts payable and accrued expenses	226	1,686
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	0	4,215
Issuance of common stock in connection with the business acquisition	0	5,860
Tenant improvement allowance capitalized in property and equipment	2,719	0
Conversion of convertible notes	$ 0	$ 3,711

Stock-based compensation - Narrative (Details) $ in Thousands		3 Months Ended			9 Months Ended
	Sep. 26, 2018 shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Sep. 30, 2023 shares	Aug. 22, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, options		$ 300			$ 300
Stock based compensation expense (reduction)		$ 13,734	$ 10,598		$ 38,578	$ 18,531
Share-based payment arrangement, amount capitalized			(100)			(500)
Aggregate number of common stock shares reserved for issuance (in shares) \| shares		664,000			664,000		539,000
Employer matching percentage					50.00%
Percentage of employee's gross pay matched					6.00%
Employer matching contributions		$ 700	$ 700		$ 2,000	$ 2,200
Abveris
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense (credit)				$ (9,900)
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					4 years
Conversion ratio					1
Unrecognized compensation cost, stock options		62,300			$ 62,300
Recognize cost weighted average period					2 years 7 months 6 days
Grant date fair value		36,900
Restricted Stock Units (RSUs) \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					1 year
Performance Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, stock options		18,100			$ 18,100
Recognize cost weighted average period					1 year 3 months 18 days
Grant date fair value		11,500
Performance Stock Unit \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of PSUs that may vest based on performance					0.00%
Performance Stock Unit \| Minimum \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					2 years
Performance Stock Unit \| Minimum \| Non-Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					1 year
Performance Stock Unit \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of PSUs that may vest based on performance					150.00%
Performance Stock Unit \| Maximum \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					3 years
Performance Stock Unit \| Maximum \| Non-Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					3 years
Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					4 years
Recognize cost weighted average period					1 year 1 month 6 days
Award term					10 years
Performance Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognize cost weighted average period					9 months 18 days
Award term					10 years
Unrecognized compensation cost, options		$ 200			$ 200
Performance Stock Options \| Executive Officers and Senior Level Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					2 years
Vest outstanding (in shares) \| shares		30,000			30,000
Performance Stock Options \| Non-Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					5 years
2018 ESPP \| Shares subject to options (including performance options) to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense (reduction)		$ 500			$ 1,300
Aggregate number of common stock shares reserved for issuance (in shares) \| shares	275,225
Minimum annual increase in share reserved for issuance \| shares	249,470
Annual automatic Increase in share reserved for issuance (as a percent)	1.00%
Percentage of payroll deduction to purchase common stock	15.00%
ESPP eligible employee common stock purchase price ratio	85.00%
Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum aggregate number of shares (in shares) \| shares								700,000

Goodwill and intangible assets

9 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

There were no changes to the carrying value of goodwill during the nine months ended June 30, 2024.

The goodwill balance is presented below:


(in thousands)	June 30, 2024		September 30, 2023
Balance at beginning of period/year	$	85,811	$	85,811
Balance at end of period/year	$	85,811	$	85,811

The intangible assets balances are presented below:


	June 30, 2024
(in thousands, except for years)	Weighted average Amortization period in years	Gross carrying amount		Impairment		Accumulated amortization		Net book value
Developed Technology	17	$	50,020	$	(25,198)	$	(10,081)	$	14,741
Customer Relationships	—	15,210		(10,541)		(4,669)		—
Tradenames & Trademarks	—	900		(125)		(775)		—
Total finite-lived intangible assets		$	66,130	$	(35,864)	$	(15,525)	$	14,741


	September 30, 2023
(in thousands, except for years)	Weighted average Amortization period in years	Gross carrying amount		Accumulated amortization		Net book value
Developed Technology	15	$	50,020	$	(7,636)	$	42,384
Customer Relationships	11	15,210		(3,461)		11,749
Tradenames & Trademarks	3	$	900	$	(550)	$	350
Total finite-lived intangible assets		$	66,130	$	(11,647)	$	54,483

Total amortization expense related to finite-lived intangible assets was $1.3 million for the three months ended June 30, 2024 and $1.3 million for the three months ended June 30, 2023. Total amortization expense related to finite-lived intangible assets was $3.9 million for the nine months ended June 30, 2024 and $3.9 million for the nine months ended June 30, 2023. The Company recorded impairment charges of $35.9 million for the three and nine months ended June 30, 2024. See note 13.

Net loss per share attributable to common stockholders - Computation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net loss attributable to common stockholders	$ (85,571)	$ (57,395)	$ (174,071)	$ (158,375)
Denominator:
Weighted average shares used in computing net loss per share, basic (in shares)	58,145	57,041	57,806	56,753
Weighted average shares used in computing net loss per share, diluted (in shares)	58,145	57,041	57,806	56,753
Net loss per share attributable to common stockholders—basic (in usd per share)	$ (1.47)	$ (1.01)	$ (3.01)	$ (2.79)
Net loss per share attributable to common stockholders, diluted (in usd per share)	$ (1.47)	$ (1.01)	$ (3.01)	$ (2.79)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Commitments and contingencies - Minimum Rental Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2024	$ 3,636
2025	14,814
2026	13,885
2027	8,371
2028	8,471
Thereafter	88,014
Total minimum lease payments	137,191
Less: imputed interest	(50,011)
Total operating lease liabilities	87,180
Less: current portion	(14,555)	$ (14,896)
Operating lease liability, net of current portion	$ 72,625	$ 79,173

Geographic, product and industry information - Geographic Region (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Segment Reporting Information [Line Items]

Revenue

^[1]

$ 81,464

$ 63,740

$ 228,264

$ 178,163

Americas

Segment Reporting Information [Line Items]

Revenue

51,389

39,016

141,221

107,586

EMEA

Segment Reporting Information [Line Items]

Revenue

23,581

19,069

67,064

54,179

APAC

Segment Reporting Information [Line Items]

Revenue

$ 6,494

$ 5,655

$ 19,979

$ 16,398

[1]

During the three and nine months ended June 30, 2024, the Company generated revenues from related parties totaling of $4.1 million and $9.7 million, respectively. During the three and nine months ended June 30, 2023, the Company generated revenues from related parties totaling $0.9 million and $3.6 million, respectively.

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

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-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Related party transactions	9 Months Ended
Related party transactions	Jun. 30, 2024
Related Party Transactions [Abstract]
Related party transactions	Related party transactions During the three months ended June 30, 2024 and 2023, the Company purchased raw materials from a related party in the amount of $1.7 million and $1.4 million, respectively. During the nine months ended June 30, 2024 and 2023, the purchases of raw materials from a related party were $4.5 million and $5.0 million, respectively. During the three and nine months ended June 30, 2024, the Company had revenues from the related party in the amount of $4.1 million and $9.7 million, respectively. During the three and nine months ended June 30, 2023, the Company generated revenues from the related party totaling $0.9 million and $3.6 million, respectively. As of June 30, 2024, payable balances and receivable balances with the related party were $0.2 million and $0.8 million, respectively. Receivable balances with the related party were $1.7 million as of September 30, 2023. Payable balances with the related parties were immaterial as of September 30, 2023.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Section S99
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+ Details

Cover Page - shares	9 Months Ended
Cover Page - shares	Jun. 30, 2024	Jul. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-38720
Entity Registrant Name	Twist Bioscience Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2058888
Entity Address, Address Line One	681 Gateway Blvd
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	800
Local Phone Number	719-0671
Title of 12(b) Security	Common Stock
Trading Symbol	TWST
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		58,585,960
Amendment Flag	false
Entity Central Index Key	0001581280
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

Goodwill and intangible assets - Intangible Assets Balances (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 66,130		$ 66,130		$ 66,130
Impairment	(35,864)	$ 0	(35,864)	$ 0
Accumulated amortization	(15,525)		(15,525)		(11,647)
Intangible assets, net	$ 14,741		$ 14,741		$ 54,483
Developed Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average Amortization period in years	17 years		17 years		15 years
Gross carrying amount	$ 50,020		$ 50,020		$ 50,020
Impairment	(25,198)
Accumulated amortization	(10,081)		(10,081)		(7,636)
Intangible assets, net	14,741		14,741		$ 42,384
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average Amortization period in years					11 years
Gross carrying amount	15,210		15,210		$ 15,210
Impairment	(10,541)
Accumulated amortization	(4,669)		(4,669)		(3,461)
Intangible assets, net	0		0		$ 11,749
Tradenames & Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average Amortization period in years					3 years
Gross carrying amount	900		900		$ 900
Impairment	(125)
Accumulated amortization	(775)		(775)		(550)
Intangible assets, net	$ 0		$ 0		$ 350

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax benefit	$ 191	$ 622	$ 656	$ 1,374

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) (Parenthetical) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Revenue

^[1]

$ 81,464

$ 63,740

$ 228,264

$ 178,163

Related Party

Revenue

$ 4,100

$ 900

$ 9,700

$ 3,600

[1]

- Definition

+ References

+ Details

Impairment of long-lived assets - Narrative (Details)	9 Months Ended
Impairment of long-lived assets - Narrative (Details)	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Intangible assets, Inherit risk percentage	0.14

Fair value measurement (Tables)

9 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Summary of Cash and Cash Equivalents

The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of June 30, 2024:


(in thousands)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Cash and cash equivalents	$	239,142	$	—	$	—	$	239,142
Short-term investments:

U.S. government treasury bills	50,304		—		(29)		50,276
Non-current assets - investment in equity securities	3,711		—		—		3,711
Total	$	293,158	$	—	$	(29)	$	293,129

The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of September 30, 2023:


(in thousands)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Cash and cash equivalents	$	286,470	$	—	$	—	$	286,470
Short-term investments:
Corporate bonds	14,918		—		(29)		14,889
U.S. government treasury bills	35,111		—		(57)		35,054
Non-current assets - investment in equity securities	3,711		—		—		3,711
Total	$	340,210	$	—	$	(86)	$	340,124

Summary of Debt Securities Available-for-Sale

The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of June 30, 2024:


(in thousands)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Cash and cash equivalents	$	239,142	$	—	$	—	$	239,142
Short-term investments:

U.S. government treasury bills	50,304		—		(29)		50,276
Non-current assets - investment in equity securities	3,711		—		—		3,711
Total	$	293,158	$	—	$	(29)	$	293,129

The following table sets forth the cash and cash equivalents, short-term investments and equity securities as of September 30, 2023:


(in thousands)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Cash and cash equivalents	$	286,470	$	—	$	—	$	286,470
Short-term investments:
Corporate bonds	14,918		—		(29)		14,889
U.S. government treasury bills	35,111		—		(57)		35,054
Non-current assets - investment in equity securities	3,711		—		—		3,711
Total	$	340,210	$	—	$	(86)	$	340,124

Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

As of June 30, 2024, financial assets and liabilities measured and recognized at fair value are as follows:


(in thousands)	Level 1		Level 2		Level 3		Fair value
Assets
Money market funds	$	196,413	$	—	$	—	$	196,413

U.S. government treasury bills	50,276		—		—		50,276
Non-current assets - investment in equity securities	—		—		3,711		3,711
Total	$	246,689	$	—	$	3,711	$	250,400

Total financial liabilities	$	—	$	—	$	—	$	—

As of September 30, 2023, financial assets and liabilities measured and recognized at fair value are as follows:


(in thousands)	Level 1		Level 2		Level 3		Fair value
Assets
Money market funds	$	245,654	$	—	$	—	$	245,654
Corporate bonds	—		14,889		—		14,889
U.S. government treasury bills	35,054		—		—		35,054
Non-current assets - investment in equity securities	—		—		3,711		3,711
Total financial assets	$	280,708	$	14,889	$	3,711	$	299,308

Total financial liabilities	$	—	$	—	$	—	$	—

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of beginning and ending balances of the Level 3 financial assets during the three months ended June 30, 2024:


(in thousands)	Equity investments		Total
Balance as of September 30, 2023	$	3,711	$	3,711
Change in fair value	—		—
Additions during the year	—		—
Balance as of June 30, 2024	$	3,711	$	3,711

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
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-Section 50
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Geographic, product and industry information

9 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Geographic, product and industry information

The table below sets forth revenues by geographic region, based on ship-to destinations. Americas consists of the United States of America, Canada, Mexico and South America; EMEA consists of Europe, the Middle East, and Africa; and APAC consists of Japan, China, South Korea, India, Singapore, Malaysia, Australia, New Zealand, Thailand and Taiwan.


	Three months ended June 30,				Nine months ended June 30,
(in thousands)	2024		2023		2024		2023
Americas	$	51,389	$	39,016	$	141,221	$	107,586
EMEA	23,581		19,069		67,064		54,179
APAC	6,494		5,655		19,979		16,398
Total	$	81,464	$	63,740	$	228,264	$	178,163

The table below sets forth revenues by products.


	Three months ended June 30,				Nine months ended June 30,
(in thousands)	2024		2023		2024		2023
Synthetic genes	$	24,948	$	19,302	$	67,031	$	53,488
Oligo pools	4,166		3,735		12,295		10,749
DNA libraries	3,848		2,880		10,318		7,542
Antibody discovery	5,102		4,580		15,029		19,785
NGS tools	43,400		33,243		123,591		86,599
Total	$	81,464	$	63,740	$	228,264	$	178,163

The table below sets forth revenues by industry.


	Three months ended June 30,				Nine months ended June 30,
(in thousands)	2024		2023		2024		2023
Industrial chemicals/materials	$	23,188	$	16,801	$	59,730	$	44,785
Academic research	14,892		12,421		42,387		33,556
Healthcare	42,823		33,988		124,637		97,764
Food/agricultural	561		530		1,510		2,058
Total	$	81,464	$	63,740	$	228,264	$	178,163

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Stock-based compensation (Tables)

9 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Nonvested Restricted Stock Units Activity

Activity with respect to the Company’s restricted stock units during the nine months ended June 30, 2024 was as follows:


(in thousands, except per share data)	Shares	Weighted average grant date fair value per share
Nonvested shares at September 30, 2023	1,620	$	40.73
Granted	1,414	26.10
Vested/Issued	(604)	39.61
Forfeited	(262)	40.08
Nonvested shares at June 30, 2024	2,168	$	31.62

Schedule of Nonvested Performance-based Units Activity

Activity under the PSUs during the nine months ended June 30, 2024 is summarized below:


(in thousands, except per share data)	Shares	Weighted average grant date fair value per share
Nonvested shares at September 30, 2023	932	$	36.82
Granted	617	18.71
Vested/Issued	(84)	80.67
Forfeited	(81)	29.28
Nonvested shares at June 30, 2024	1,384	$	26.52

Schedule of Activity Under Option and Performance Stock Options

Options activity during the nine months ended June 30, 2024 is summarized below:


(in thousands, except per share data)	Shares	Weighted average exercise price per share		Weighted average remaining contractual term (years)	Aggregate intrinsic value
Outstanding at September 30, 2023	2,119	$	24.18	5.25	$	6,715
Forfeited	(115)	38.64		—	—
Exercised	(261)	19.85		—	5,123

Outstanding at June 30, 2024	1,743	$23.88		4.41	$	47,265
Nonvested at June 30, 2024	6	106.25		7.03	—
Exercisable at June 30, 2024	1,737	$	23.61	4.40	$	47,265

Activity under the PSOs during the nine months ended June 30, 2024 is summarized below:


(in thousands, except per share data)	Shares	Weighted average exercise price per share		Weighted average remaining contractual term (years)	Aggregate intrinsic value
Outstanding at September 30, 2023	289	$	60.82	7.37	$	—
Nonvested at September 30, 2023	30	$	31.29	8.57	$	—
Exercisable at September 30, 2023	259	64.24		7.23	—
Forfeited	(12)	$	67.85	—	$	—
Exercisable at June 30, 2024	247	$	64.07	6.49	$	810
Nonvested at June 30, 2024	30	31.29		7.82	540
Outstanding at June 30, 2024	277	$	60.53	6.63	$	1,349

Schedule of Stock-Based Compensation Expenses

Total stock-based compensation expense recognized was as follows:


	Three months ended June 30,				Nine months ended June 30,
(in thousands)	2024		2023		2024		2023
Cost of revenues	$	1,033	$	1,286	$	3,006	$	3,898
Research and development	2,400		3,329		8,614		10,837
Selling, general and administrative	10,301		5,983		26,958		3,796
Total stock-based compensation	$	13,734	$	10,598	$	38,578	$	18,531

Summary of Stock Option Valuation Assumptions

The number of shares reserved for issuance at June 30, 2024 was as follows:


(In thousands)						Shares available
Outstanding at September 30, 2023						539
Additional shares authorized						249
Shares issued during the period						(124)
Outstanding at June 30, 2024						664

Balance sheet components (Tables)

9 Months Ended

Jun. 30, 2024

Balance Sheet Related Disclosures [Abstract]

Summary of Inventories

Inventories consist of the following:


(in thousands)	June 30, 2024		September 30, 2023
Raw materials	$	22,000	$	27,024
Work-in-process	2,213		1,113
Finished goods	4,271		3,926
	$	28,484	$	32,063

Summary of Property, Plant and Equipment

Property and Equipment, net consists of the following:


(in thousands)	June 30, 2024		September 30, 2023
Laboratory equipment	$	99,354	$	104,508
Furniture, fixtures and other equipment	3,279		3,484
Vehicles	211		85
Computer equipment	3,555		3,103
Computer software	9,077		5,507
Leasehold improvements	58,197		57,271
Construction in progress	3,296		8,528
	$	176,969	$	182,486
Less: Accumulated depreciation	(70,630)		(50,656)
	$	106,339	$	131,830

Summary of Other Current Liabilities

The other current liabilities consist of the following:


(in thousands)	June 30, 2024		September 30, 2023
Income and other taxes payable	$	2,343	$	4,374
Contract liabilities	2,940		2,999
Other current liabilities	796		430

	$	6,079	$	7,803

Fair value measurement - Cash And Cash Equivalents And Available For Sale Securities At Fair Value (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2024	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 239,142	$ 286,470
Amortized cost	293,158	340,210
Gross unrealized gains	0	0
Gross unrealized losses	(29)	(86)
Cash and cash equivalents, fair value	239,142	286,470
Equity securities, FV-NI, cost	3,711	3,711
Equity securities, FV-NI, unrealized loss	0	0
Equity securities, FV-NI, unrealized gain	0	0
Non-current assets - investment in equity securities	3,711	3,711
Fair value	293,129	340,124
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short term investments, Amortized cost		14,918
Gross unrealized gains		0
Gross unrealized losses		(29)
Short term investments, fair value		14,889
U.S. government treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short term investments, Amortized cost	50,304	35,111
Gross unrealized gains	0	0
Gross unrealized losses	(29)	(57)
Short term investments, fair value	$ 50,276	$ 35,054

Fair value measurement - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, FV-NI, cost	$ 3,711	$ 3,711
Equity ownership, excluding consolidated entity and equity method investee, percentage	15.00%
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability value	$ 3,700
Convertible Note \| Convertible Notes Payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, FV-NI, cost	$ 3,500
Debt instrument, interest rate, stated percentage	4.00%
Prepaid Expenses and Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest receivable	$ 1,000	$ 1,200

Geographic, product and industry information (Tables)

9 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Summary of Revenue by Geographic Region


	Three months ended June 30,				Nine months ended June 30,
(in thousands)	2024		2023		2024		2023
Americas	$	51,389	$	39,016	$	141,221	$	107,586
EMEA	23,581		19,069		67,064		54,179
APAC	6,494		5,655		19,979		16,398
Total	$	81,464	$	63,740	$	228,264	$	178,163

Summary of Revenue by Product

The table below sets forth revenues by products.


	Three months ended June 30,				Nine months ended June 30,
(in thousands)	2024		2023		2024		2023
Synthetic genes	$	24,948	$	19,302	$	67,031	$	53,488
Oligo pools	4,166		3,735		12,295		10,749
DNA libraries	3,848		2,880		10,318		7,542
Antibody discovery	5,102		4,580		15,029		19,785
NGS tools	43,400		33,243		123,591		86,599
Total	$	81,464	$	63,740	$	228,264	$	178,163

Summary of Revenue by Industry

The table below sets forth revenues by industry.


	Three months ended June 30,				Nine months ended June 30,
(in thousands)	2024		2023		2024		2023
Industrial chemicals/materials	$	23,188	$	16,801	$	59,730	$	44,785
Academic research	14,892		12,421		42,387		33,556
Healthcare	42,823		33,988		124,637		97,764
Food/agricultural	561		530		1,510		2,058
Total	$	81,464	$	63,740	$	228,264	$	178,163

Common stock	9 Months Ended
Common stock	Jun. 30, 2024
Equity [Abstract]
Common stock	Common stock As of June 30, 2024, the Company had reserved sufficient shares of common stock, with a par value of $0.00001 per share, for issuance upon exercise of outstanding stock options. Each share of common stock is entitled to one vote. The holders of shares of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors.

- Definition

The entire disclosure for equity.

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+ Details

Stock-based compensation expense - Activity Under The Equity Incentive Plans (Details) shares in Thousands	9 Months Ended
	Jun. 30, 2024 $ / shares shares
Restricted Stock Unit
Number of Shares
Beginning balance (in shares) \| shares	1,620
Granted (in shares) \| shares	1,414
Vested/Issued (in shares) \| shares	(604)
Forfeited (in shares) \| shares	(262)
Ending balance (in shares) \| shares	2,168
Weighted average grant date fair value per share
Beginning balance (in usd per share) \| $ / shares	$ 40.73
Granted (in usd per share) \| $ / shares	26.10
Vested (in usd per share) \| $ / shares	39.61
Forfeited (in usd per share) \| $ / shares	40.08
Ending balance (in usd per share) \| $ / shares	$ 31.62
Performance Stock Unit
Number of Shares
Beginning balance (in shares) \| shares	932
Granted (in shares) \| shares	617
Vested/Issued (in shares) \| shares	(84)
Forfeited (in shares) \| shares	(81)
Ending balance (in shares) \| shares	1,384
Weighted average grant date fair value per share
Beginning balance (in usd per share) \| $ / shares	$ 36.82
Granted (in usd per share) \| $ / shares	18.71
Vested (in usd per share) \| $ / shares	80.67
Forfeited (in usd per share) \| $ / shares	29.28
Ending balance (in usd per share) \| $ / shares	$ 26.52

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Balance sheet components - Other current liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Income and other taxes payable	$ 2,343	$ 4,374
Contract liabilities	2,940	2,999
Other current liabilities	796	430
Other current liabilities	$ 6,079	$ 7,803

Summary of significant accounting policies (Policies)	9 Months Ended
Summary of significant accounting policies (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of presentation and use of estimates	Basis of presentation and use of estimates The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information. Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K for the fiscal year ended September 30, 2023 (the Annual Report on Form 10-K) filed with the Securities and Exchange Commission on November 21, 2023. The condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the condensed consolidated financial statements. The condensed consolidated balance sheet at September 30, 2023 is derived from audited consolidated financial statements but does not include all disclosures required by GAAP. The operating results for the three and nine months ended June 30, 2024 are not necessarily indicative of the results expected for the full year ending September 30, 2024 or any interim period. The presentation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s unaudited condensed consolidated financial statements include its wholly owned subsidiaries. All intercompany balances and accounts are eliminated in consolidation. To conform with current fiscal 2024 presentation, we reclassified $3.6 million of impairment of property and equipment included within restructuring and other costs to impairment of long-lived assets in the condensed consolidated statement of operations and comprehensive loss for the three and nine months ended June 30, 2023. This reclassification had no impact on our condensed statement of operations and comprehensive loss for the three and nine months ended June 30, 2023.
Allowance for Credit Losses	Allowance for Credit Losses The Company maintains an allowance for credit losses for expected uncollectible accounts receivable and contract assets, which is recorded as an offset to accounts receivable or contract assets and provisions for credit losses are recorded in general and administrative expense in the consolidated statements of income. Under the application of Accounting Standards Codification (“ASC”) Topic 326-20, Financial Instruments—Credit Losses (“ASC 326”), the allowance for current expected credit losses is based on a review of customer accounts and considers historical credit loss information that is adjusted for current economic and business conditions and anticipated future economic events that may impact collectability. In developing its expected credit loss estimate, the Company evaluated the appropriate grouping of accounts receivable and contract assets based upon its evaluation of risk characteristics, including consideration of region and industries of the customers. The allowance for credit losses is reviewed on a quarterly basis to assess the adequacy of the allowance.
Short-term investments	Short-term investments The Company invests in various types of securities, including United States government, commercial paper, and corporate debt securities. The Company classifies its investments as available-for-sale and records them at fair value based upon market prices at period end. For available-for-sale debt securities in an unrealized loss position, the Company evaluates whether a current expected credit loss exists based on available information relevant to the credit rating of the security, current economic conditions and reasonable and supportable forecasts. The allowance for credit loss is recorded in other income (expense), net, on the consolidated statements of income, not to exceed the amount of the unrealized loss. Any excess unrealized loss other than the credit loss is recognized in accumulated other comprehensive income or loss in the stockholders' equity section of the consolidated balance sheets. The cost of securities sold is based on the specific identification method and realized gains and losses are included in other income (expense), net. Dividend and interest income are recognized when earned. The Company may sell these securities at any time for use in current operations.
Revenue	Revenue The Company had contract assets of $2.6 million and contract liabilities of $2.9 million as of June 30, 2024. The Company had contract assets of $2.8 million and contract liabilities of $3.0 million as of September 30, 2023. For the three and nine months ended June 30, 2024, the Company recognized revenue of $0.7 million and $2.9 million, respectively, from the amount that was included in the contract liability balance at the beginning of each period. For the three and nine months ended June 30, 2023, the Company recognized revenue of $0.6 million and $2.8 million, respectively, from the amount that was included in the contract liability balance at the beginning of each period. In addition, for all periods presented, there was no revenue recognized in a reporting period from performance obligations satisfied in previous periods. The aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied as of June 30, 2024 was $7.1 million. The Company expects to recognize revenue over the next twelve months relating to performance obligations unsatisfied as of June 30, 2024. Based on the nature of the Company's contracts with customers, which are recognized over a term of less than 12 months, the Company has elected to use the practical expedient whereby costs to obtain a contract are expensed as they are incurred. The Company states its revenues net of any taxes collected from customers that are required to be remitted to various government agencies. The amount of taxes collected from customers and payable to governmental entities is included on the balance sheet as part of “Accrued expenses and other current liabilities.”
Recent accounting pronouncements	Recent accounting pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s ASC. The Company considered the applicability and impact of all recent ASUs. ASUs not listed below were assessed and determined to be not applicable to the Company’s consolidated financial position and results of operations. Recent accounting pronouncements adopted In June 2016, FASB issued ASU No. 2016-13 “Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments” and has since modified the standard with several ASUs (collectively, “Topic 326”). Topic 326 requires measurement and recognition of expected credit losses for financial assets. The ASU replaced previous incurred loss impairment guidance and established a single expected credit losses allowance framework for financial assets carried at amortized cost. It also eliminated the concept of other-than-temporary impairment and requires credit losses related to certain available-for-sale debt securities to be recorded through an allowance for credit losses. On October 1, 2023, the Company adopted this standard using a modified retrospective approach, which requires a cumulative-effect adjustment to the opening balance of retained earnings to be recognized on the date of adoption and, accordingly, recorded a net increase of $0.1 million to accumulated deficit as of the beginning of fiscal 2024. In connection with the adoption of Topic 326, the Company made an accounting policy election to not measure an allowance for credit losses for accrued interest receivable. Recently issued accounting pronouncement not yet adopted In December 2023, the FASB issued ASU No. 2023-09 "Income Taxes (Topic 740)". The amendments in this ASU require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The amendments in this update are effective for annual periods beginning after December 15, 2024. The standard is not expected to have a material impact to the Company's condensed consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-08 "Segment Reporting (Topic 280)". The amendments in this ASU improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The standard is not expected to have a material impact to the Company's condensed consolidated financial statements. The Company has evaluated other recently issued accounting pronouncements and has concluded that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption.

- Definition

Disclosure of accounting policy for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security. Includes, but is not limited to, methodology used to estimate allowance for credit loss, how writeoff of uncollectible amount is recognized, and determination of past due status and nonaccrual status.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.M.2.Q4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483530/326-20-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-14

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 30
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479391/326-20-30-5A

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-3C

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 35
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479366/326-20-35-8A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-3D

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479344/326-20-45-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 30
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479175/326-30-30-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-3C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-3A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-3D

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 35
-Paragraph 13A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479148/326-30-35-13A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 30
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479391/326-20-30-4A

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 35
-Paragraph 7A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479148/326-30-35-7A

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-21

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-11

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-7

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-17

+ Details

- Definition

Disclosure of accounting policy for investment in financial asset.

+ References + Details

Stock-based compensation expense - Stock Option Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares
Shares
Beginning balance (in shares) \| shares	2,119,000
Forfeited (in shares) \| shares	(115,000)
Exercised (in shares) \| shares	(261,000)
Ending balance (in shares) \| shares	1,743,000	2,119,000
Number of options, Nonvested at December 31, 2022 (in shares) \| shares	6,000
Number of options, Exercisable (in shares) \| shares	1,737,000
Weighted average exercise price per share
Beginning balance (in usd per share) \| $ / shares	$ 24.18
Forfeited (in usd per share) \| $ / shares	38.64
Exercised (in dollars per share) \| $ / shares	19.85
Ending balance (in usd per share) \| $ / shares	23.88	$ 24.18
Weighted average exercise price per share, Nonvested at December 31, 2022 (in dollars per share) \| $ / shares	106.25
Vested and exercisable (in usd per share) \| $ / shares	$ 23.61
Weighted average remaining contractual term (years)
Outstanding	4 years 4 months 28 days	5 years 3 months
Weighted average remaining contractual term (years), Nonvested at December 31, 2022	7 years 10 days
Weighted average remaining contractual term (years), Exercisable	4 years 4 months 24 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding beginning balance \| $	$ 6,715
Exercised \| $	5,123
Aggregate intrinsic value, nonvested \| $	0
Aggregate intrinsic value, Vested and exercisable \| $	47,265
Aggregate intrinsic value, outstanding ending balance \| $	$ 47,265	$ 6,715
Performance Stock Options
Shares
Beginning balance (in shares) \| shares	289,000
Forfeited (in shares) \| shares	(12,000)
Ending balance (in shares) \| shares	277,000	289,000
Number of options, Nonvested at December 31, 2022 (in shares) \| shares	30,000	30,000
Number of options, Exercisable (in shares) \| shares	247,000	259,000
Weighted average exercise price per share
Beginning balance (in usd per share) \| $ / shares	$ 60.82
Forfeited (in usd per share) \| $ / shares	67.85
Ending balance (in usd per share) \| $ / shares	60.53	$ 60.82
Weighted average exercise price per share, Nonvested at December 31, 2022 (in dollars per share) \| $ / shares	31.29	31.29
Vested and exercisable (in usd per share) \| $ / shares	$ 64.07	$ 64.24
Weighted average remaining contractual term (years)
Outstanding	6 years 7 months 17 days	7 years 4 months 13 days
Weighted average remaining contractual term (years), Nonvested at December 31, 2022	7 years 9 months 25 days	8 years 6 months 25 days
Weighted average remaining contractual term (years), Exercisable	6 years 5 months 26 days	7 years 2 months 23 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding beginning balance \| $	$ 0
Aggregate intrinsic value, nonvested \| $		$ 0
Aggregate intrinsic value, Vested and exercisable \| $	810	0
Aggregate intrinsic value, Nonvested at December 31, 2022 \| $	540
Aggregate intrinsic value, outstanding ending balance \| $	$ 1,349	$ 0

Fair value measurement - Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Assets
Total	$ 239,142	$ 286,470
Non-current assets - investment in equity securities	3,711	3,711
Total	250,400	299,308
Liabilities
Total financial liabilities	0	0
Corporate bonds
Assets
Short term investments, fair value		14,889
U.S. government treasury bills
Assets
Short term investments, fair value	50,276	35,054
Money market funds
Assets
Total	196,413	245,654
Level 1
Assets
Non-current assets - investment in equity securities	0	0
Total	246,689	280,708
Liabilities
Total financial liabilities	0	0
Level 1 \| Corporate bonds
Assets
Short term investments, fair value		0
Level 1 \| U.S. government treasury bills
Assets
Short term investments, fair value	50,276	35,054
Level 1 \| Money market funds
Assets
Total	196,413	245,654
Level 2
Assets
Non-current assets - investment in equity securities	0	0
Total	0	14,889
Liabilities
Total financial liabilities	0	0
Level 2 \| Corporate bonds
Assets
Short term investments, fair value		14,889
Level 2 \| U.S. government treasury bills
Assets
Short term investments, fair value	0	0
Level 2 \| Money market funds
Assets
Total	0	0
Level 3
Assets
Non-current assets - investment in equity securities	3,711	3,711
Total	3,711	3,711
Liabilities
Total financial liabilities	0	0
Level 3 \| Corporate bonds
Assets
Short term investments, fair value		0
Level 3 \| U.S. government treasury bills
Assets
Short term investments, fair value	0	0
Level 3 \| Money market funds
Assets
Total	$ 0	$ 0

Commitments and contingencies

9 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies

Legal proceedings

The Company may be subject to litigation, claims and disputes in the ordinary course of business. There is an inherent risk in any litigation or dispute and no assurance can be given as to the outcome of any claims.

Securities Class Action

On December 12, 2022, a putative securities class action lawsuit captioned Peters v. Twist Bioscience Corporation, et al., Case No. 22-cv-08168 (N.D. Cal.) (“Securities Class Action”) was filed in federal court in the Northern District of California (“Court”) against the Company, its Chief Executive Officer, and its Chief Financial Officer (the “Defendants”) alleging violations of federal securities laws. The Securities Class Action’s claims are based in large part on allegations made in a report issued on November 15, 2022 by Scorpion Capital (“Scorpion Report”) concerning, among other things, the Company’s DNA chip technology and accounting practices. The initial complaint filed in the Securities Class Action alleges that various statements that the defendants made between December 13, 2019 and November 14, 2022 were materially false and misleading in light of the allegations in the Scorpion Report. The plaintiff who initiated the lawsuit sought to represent a class of shareholders who acquired shares of the Company’s common stock between December 13, 2019 and November 14, 2022 and sought damages as well as certain other costs. On July 28, 2023, the Court appointed a new plaintiff, not the original plaintiff who filed the case, as lead plaintiff in the case and appointed a new law firm as lead counsel. On October 11, 2023, the lead plaintiff filed an amended complaint. The amended complaint is purportedly brought on behalf of all persons other than the Defendants who acquired the Company’s securities between December 20, 2018 and November 15, 2022. The amended complaint alleges that certain statements regarding, among other things, the Company’s DNA products and accounting practices were false and misleading.

This case remains in the preliminary stage. Given the inherent uncertainty of litigation and the legal standards that must be met, including class certification and success on the merits, the Company cannot express an opinion on the likelihood of an unfavorable outcome or on the amount or range of any potential loss. The Company and the other defendants intend to vigorously defend themselves against the claims asserted against them and filed a motion to dismiss the amended complaint on December 6, 2023, which the Court has taken under submission.

Derivative Action

On September 25, 2023, a shareholder derivative suit captioned Shumacher vs. Leproust et al., No. 1:23-cv-01048-UNA, was filed in the United States District Court for the District of Delaware against directors of the Company and an employee (the “Derivative Action”). The suit is based on substantially the same allegations in the Securities Class Action and seeks to recover, on behalf of the Company, damages to the Company arising from, among other things, the Securities Class Action. On November 13, 2023, the parties to the Derivative Action entered into a stipulation staying the Derivative Action pending resolution of the anticipated motion to dismiss the defendants have filed in the Securities Class Action.

Indemnifications

In the ordinary course of business, the Company enters into agreements that may include indemnification provisions. Pursuant to such agreements, the Company may indemnify, hold harmless and defend the indemnified parties for losses suffered or incurred by the indemnified party. Some of the provisions will limit losses to those arising from third-party actions. In some cases, the indemnification will continue after the termination of the agreement. The maximum potential amount of future payments the Company could be required to make under these provisions is not determinable. To date, the Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. From time to time, the Company has entered into indemnification agreements with its directors and officers that requires it to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers to the fullest extent permitted by law. The Company also has directors’ and officers’ insurance.

Leases

The Company leases certain of its facilities under non-cancellable operating leases expiring at various dates through 2044. The Company is also responsible for utilities, maintenance, insurance, and property taxes under these leases. The Company's lease payments consist primarily of fixed rental payments for the right to use the underlying leased assets over the lease terms, as well as payments for common-area-maintenance and administrative services. The Company often receives customary incentives from its landlords, such as reimbursements for tenant improvements and rent abatement periods, which effectively reduce the total lease payments owed for these leases. Leases are classified as operating or financing at commencement. The Company does not have any material financing leases.

Certain leases include options to renew or terminate at the Company’s discretion. The lease terms include periods covered by these options if it is reasonably certain the Company will renew or not terminate. The Company’s lease agreements do not contain any material residual value guarantees or restrictive covenants.

Supplemental balance sheet information related to the Company’s operating leases as of June 30, 2024 is as follows:


(in thousands)	June 30, 2024
Assets:
Operating lease right-of-use asset	$	61,277
Current liabilities:
Current portion of operating lease liabilities	$	14,555
Noncurrent liabilities:
Operating lease liabilities, net of current portion	$	72,625

Future minimum lease payments under all non-cancelable operating leases that have commenced as of June 30, 2024 are as follows:


(in thousands)	Operating leases
Years ending September 30:
Remainder of 2024	$	3,636
2025	14,814
2026	13,885
2027	8,371
2028	8,471
Thereafter	88,014
Total minimum lease payments	$	137,191
Less: imputed interest	(50,011)

Total operating lease liabilities	$	87,180
Less: current portion	(14,555)
Operating lease liabilities, net of current portion	$	72,625

The statement of cash flows for the nine months ended June 30, 2024 include changes in right-of-use assets and operating lease liabilities of $7.5 million and $6.9 million, respectively. For the nine months ended June 30, 2023, changes in right-of-use assets and operating lease liabilities were $2.9 million and $1.9 million, respectively.

During the three and nine months ended June 30, 2024, operating lease expense was $3.8 million and $11.8 million, respectively. Cash payments for amounts included in the measurement of operating lease liabilities were $3.7 million and $11.1 million for the three and nine months ended June 30, 2024, respectively. During the three and nine months ended June 30, 2023, operating lease expense was $3.9 million and $12.2 million, respectively. Cash payments for amounts included in the measurement of operating lease liabilities were $3.6 million and $11.1 million for the three and nine months ended June 30, 2023, respectively. As of June 30, 2024, the weighted-average remaining lease term was 15.2 years and the weighted-average discount rate was 6.5%.

Summary of significant accounting policies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jan. 01, 2024	Sep. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Property and equipment	$ 9,066	$ 3,620	$ 9,066	$ 3,620
Accounts receivable, allowance for credit loss	700		700
Contract with customer, asset, after allowance for credit loss	2,600		2,600			$ 2,800
Contract with customer, liability	2,900		2,900			3,000
Contract with customer, liability, revenue recognized	700	600	2,900	2,800
Revenue, remaining performance obligation, amount	7,100		7,100
Accumulated deficit	$ (1,207,253)		$ (1,207,253)			$ (1,033,034)
Cumulative Effect, Period of Adoption, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accumulated deficit					$ (100)
Revision of Prior Period, Reclassification, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Property and equipment		$ 3,600		$ 3,600

Summary of significant accounting policies - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 239,142	$ 286,470
Restricted cash, non-current	2,895	2,811
Total cash, cash equivalents and restricted cash	$ 242,037	$ 289,281	$ 311,838	$ 380,259

Goodwill and intangible assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Total amortization expense related to intangible assets	$ 1,300	$ 1,300	$ 3,900	$ 3,900
Impairment of intangible assets, finite-lived	$ 35,864	$ 0	$ 35,864	$ 0

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.00001	$ 0.00001
Common stock, authorized (in shares)	100,000	100,000
Common stock, issued (in shares)	58,519	57,557
Common stock, outstanding (in shares)	58,519	57,557

Condensed Consolidated Statements of Stockholders’ Equity (unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common stock	Additional paid-in capital	Accumulated Other comprehensive loss	Accumulated deficit	Accumulated deficit Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Sep. 30, 2022			56,523,000
Beginning balance at Sep. 30, 2022	$ 789,385		$ 0	$ 1,619,644	$ (1,843)	$ (828,416)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)			504,000
Exercise of stock options (in shares)			102,000
Exercise of stock options	1,195			1,195
Issuance of shares under the employee stock purchase program (in shares)			132,000
Issuance of shares under the employee stock purchase plan	2,536			2,536
Repurchases of common stock for income tax withholding (in shares)			(171,000)
Repurchases of common stock for income tax withholding	(3,275)			(3,275)
Issuance of shares associated with a business acquisition (in shares)			277,000
Issuance of shares from business acquisition	5,860			5,860
Stock-based compensation	19,016			19,016
Other comprehensive income (loss)	1,208				1,208
Net loss	(158,375)					(158,375)
Ending balance (in shares) at Jun. 30, 2023			57,367,000
Ending balance at Jun. 30, 2023	657,550		$ 0	1,644,976	(635)	(986,791)
Beginning balance (in shares) at Sep. 30, 2022			56,523,000
Beginning balance at Sep. 30, 2022	$ 789,385		$ 0	1,619,644	(1,843)	(828,416)
Ending balance (in shares) at Sep. 30, 2023	57,557,000		57,557,000
Ending balance at Sep. 30, 2023	$ 623,432	$ (148)	$ 0	1,657,222	(756)	(1,033,034)	$ (148)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting standards update	Accounting Standards Update 2016-13 [Member]
Beginning balance (in shares) at Mar. 31, 2023			57,105,000
Beginning balance at Mar. 31, 2023	$ 703,932		$ 0	1,633,217	111	(929,396)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)			182,000
Exercise of stock options (in shares)			45,000
Exercise of stock options	342			342
Repurchases of common stock for income tax withholding (in shares)			(70,000)
Repurchases of common stock for income tax withholding	(1,014)			(1,014)
Issuance of shares associated with a business acquisition (in shares)			105,000
Issuance of shares from business acquisition	1,767			1,767
Stock-based compensation	10,664			10,664
Other comprehensive income (loss)	(746)				(746)
Net loss	(57,395)					(57,395)
Ending balance (in shares) at Jun. 30, 2023			57,367,000
Ending balance at Jun. 30, 2023	$ 657,550		$ 0	1,644,976	(635)	(986,791)
Beginning balance (in shares) at Sep. 30, 2023	57,557,000		57,557,000
Beginning balance at Sep. 30, 2023	$ 623,432	$ (148)	$ 0	1,657,222	(756)	(1,033,034)	$ (148)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)			712,000
Exercise of stock options (in shares)	261,000		261,000
Exercise of stock options	$ 5,183			5,183
Repurchases of common stock for income tax withholding (in shares)			(135,000)
Repurchases of common stock for income tax withholding	(3,967)			(3,967)
Issuance of shares associated with a business acquisition (in shares)			124,000
Issuance of shares from business acquisition	2,047			2,047
Stock-based compensation	38,642			38,642
Other comprehensive income (loss)	21				21
Net loss	$ (174,071)					(174,071)
Ending balance (in shares) at Jun. 30, 2024	58,519,000		58,519,000
Ending balance at Jun. 30, 2024	$ 491,139		$ 0	1,699,127	(735)	(1,207,253)
Beginning balance (in shares) at Mar. 31, 2024			58,162,000
Beginning balance at Mar. 31, 2024	560,131		$ 0	1,682,473	(660)	(1,121,682)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)			223,000
Exercise of stock options (in shares)			134,000
Exercise of stock options	2,915			2,915
Repurchases of common stock for income tax withholding	(7)			(7)
Stock-based compensation	13,746			13,746
Other comprehensive income (loss)	(75)				(75)
Net loss	$ (85,571)					(85,571)
Ending balance (in shares) at Jun. 30, 2024	58,519,000		58,519,000
Ending balance at Jun. 30, 2024	$ 491,139		$ 0	$ 1,699,127	$ (735)	$ (1,207,253)

Balance sheet components

9 Months Ended

Jun. 30, 2024

Balance Sheet Related Disclosures [Abstract]

Balance sheet components

Inventories consist of the following:


(in thousands)	June 30, 2024		September 30, 2023
Raw materials	$	22,000	$	27,024
Work-in-process	2,213		1,113
Finished goods	4,271		3,926
	$	28,484	$	32,063

There is no consigned inventory balance as of June 30, 2024 and September 30, 2023.

Property and Equipment, net consists of the following:


(in thousands)	June 30, 2024		September 30, 2023
Laboratory equipment	$	99,354	$	104,508
Furniture, fixtures and other equipment	3,279		3,484
Vehicles	211		85
Computer equipment	3,555		3,103
Computer software	9,077		5,507
Leasehold improvements	58,197		57,271
Construction in progress	3,296		8,528
	$	176,969	$	182,486
Less: Accumulated depreciation	(70,630)		(50,656)
	$	106,339	$	131,830

As of June 30, 2024, the construction in progress mainly represents equipment costs and software development costs. For the three and nine months ended June 30, 2024, the total depreciation expense was $7.0 million and $20.9 million, respectively. For the three and nine months ended June 30, 2023 the total depreciation expense was $6.9 million and $16.8 million, respectively. The Company recorded impairment charges of $9.1 million for the three and nine months ended June 30, 2024. See note 13.

The other current liabilities consist of the following:


(in thousands)	June 30, 2024		September 30, 2023
Income and other taxes payable	$	2,343	$	4,374
Contract liabilities	2,940		2,999
Other current liabilities	796		430

	$	6,079	$	7,803

Summary of significant accounting policies (Tables)

9 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Summary of Cash, Cash Equivalents and Restricted Cash


(in thousands)	June 30, 2024		September 30, 2023
Cash and cash equivalents	$	239,142	$	286,470
Restricted cash, non-current	2,895		2,811
Total cash, cash equivalents and restricted cash	$	242,037	$	289,281

Impairment of long-lived assets (Tables)

9 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Details of Impairment of Long-Lived Assets Held and Used by Asset


	Three months ended June 30,				Nine months ended June 30,
(in thousands)	2024		2023		2024		2023
Property and equipment	$	9,066	$	3,620	$	9,066	$	3,620
Finite-lived intangible assets	35,864		—		35,864		—
Total	$	44,930	$	3,620	$	44,930	$	3,620

Balance sheet components - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 176,969	$ 182,486
Less: Accumulated depreciation	(70,630)	(50,656)
Property and equipment, net	106,339	131,830
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	99,354	104,508
Furniture, fixtures and other equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,279	3,484
Vehicles
Property, Plant and Equipment [Line Items]
Property and equipment, gross	211	85
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,555	3,103
Computer software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,077	5,507
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	58,197	57,271
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,296	$ 8,528

Income taxes	9 Months Ended
Income taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxesIn determining quarterly provisions for income taxes, the Company uses the annual estimated effective tax rate applied to the actual year-to-date profit or loss, adjusted for discrete items arising in that quarter. For the three and nine months ended June 30, 2024, the Company recorded provisions for income taxes of $0.2 million and $0.7 million, respectively. For the three and nine months ended June 30, 2023, the Company recorded provisions for income taxes of $0.6 million and $1.4 million, respectively.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Stock-based compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 13,734	$ 10,598	$ 38,578	$ 18,531
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	1,033	1,286	3,006	3,898
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	2,400	3,329	8,614	10,837
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 10,301	$ 5,983	$ 26,958	$ 3,796

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

2023 Restructuring and other costs	9 Months Ended
2023 Restructuring and other costs	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
2023 Restructuring and other costs	2023 Restructuring and other costs On May 3, 2023, the Company’s Board of Directors approved a strategic restructuring plan to reduce costs, build a leaner organization and increase operating efficiencies. The restructuring plan included a reduction in force which affected approximately 270 employees worldwide, representing approximately 25% of the Company’s total workforce. The majority of these employees separated from the Company by September 30, 2023. The reduction in force is subject to local regulatory requirements. Furthermore, as part of the plan the Company removed the duplication of synthetic biology production across its South San Francisco, California and Wilsonville, Oregon facilities. The plan was implemented beginning in May 2023 and was substantially completed by the end of fiscal year 2023. Total restructuring and other costs of $12.7 million was incurred by the Company during the three and nine months ended June 30, 2023 and included employee severance and related benefit costs of $8.6 million, restructuring and non-restructuring related impairment of property and equipment of $3.6 million, and other costs associated with restructuring of $0.4 million.

Related party transactions - (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

12 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Sep. 30, 2023

Raw materials purchased from related party investor

$ 1,700

$ 1,400

$ 4,500

$ 5,000

Revenue

^[1]

81,464

63,740

228,264

178,163

Accounts receivable, net

31,988

$ 44,064

Revenue

4,100

$ 900

9,700

$ 3,600

Accounts payable

200

Accounts receivable, net

$ 800

Related party consideration

$ 1,700

[1]

- Definition

+ References

+ Details

Net loss per share attributable to common stockholders (Tables)

9 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Summary of Computation of the Company's Basic and Diluted Net Loss Per Share Attributable to Common Stockholders

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders:


	Three months ended June 30,				Nine months ended June 30,
(in thousands, except per share data)	2024		2023		2024		2023
Numerator:
Net loss attributable to common stockholders	$	(85,571)	$	(57,395)	$	(174,071)	$	(158,375)
Denominator:
Weighted average shares used in computing net loss per share, basic and diluted	58,145		57,041		57,806		56,753
Net loss per share attributable to common stockholders, basic and diluted	$	(1.47)	$	(1.01)	$	(3.01)	$	(2.79)

Summary of Calculation of Diluted Net Loss Per Share


	Three and nine months ended
	June 30,
(in thousands)	2024	2023
Shares subject to options (including performance options) to purchase common stock	2,020	2,546

Unvested restricted stock units and performance stock units	3,552	2,371
Shares subject to employee stock purchase plan	86	78
Total	5,658	4,995

Balance sheet components - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Depreciation	$ 7,000	$ 6,900	$ 20,900	$ 16,800
Property and equipment	$ 9,066	$ 3,620	$ 9,066	$ 3,620

Commitments and contingencies (Tables)

9 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Supplemental Balance Sheet Information Relating to Companies Operating Lease

Supplemental balance sheet information related to the Company’s operating leases as of June 30, 2024 is as follows:


(in thousands)	June 30, 2024
Assets:
Operating lease right-of-use asset	$	61,277
Current liabilities:
Current portion of operating lease liabilities	$	14,555
Noncurrent liabilities:
Operating lease liabilities, net of current portion	$	72,625

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments under all non-cancelable operating leases that have commenced as of June 30, 2024 are as follows:


(in thousands)	Operating leases
Years ending September 30:
Remainder of 2024	$	3,636
2025	14,814
2026	13,885
2027	8,371
2028	8,471
Thereafter	88,014
Total minimum lease payments	$	137,191
Less: imputed interest	(50,011)

Total operating lease liabilities	$	87,180
Less: current portion	(14,555)
Operating lease liabilities, net of current portion	$	72,625

The Company	9 Months Ended
The Company	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company Twist Bioscience Corporation (the Company) was incorporated in the state of Delaware on February 4, 2013. The Company is a synthetic biology and genomics company that has developed a disruptive DNA synthesis platform. DNA is used in many applications across different industries: industrial chemicals/materials, academic, healthcare and food/agriculture. The Company’s fiscal year ends on September 30. The core of the Company’s platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. The Company has combined this technology with proprietary software, scalable commercial infrastructure and an e-commerce platform to create an integrated technology platform that enables the Company to achieve high levels of quality, precision, automation, and manufacturing throughput at a significantly lower cost than its competitors. The Company is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next generation sample preparation, and antibody libraries for drug discovery and development. The Company has a limited operating history and its prospects are subject to risks, expenses and uncertainties frequently encountered by companies in this industry. These risks include, but are not limited to, the uncertainty of availability of additional financing, market acceptance of its products, the ability to retain and attract new customers, and the uncertainty of achieving future profitability. The Company has generated net losses in all periods since its inception. As of June 30, 2024, the Company had an accumulated deficit of $1,207.3 million and has not generated positive cash flows from operations since inception. Losses are expected to continue as the Company continues to invest in product development, manufacturing, and sales and marketing. As of June 30, 2024, the Company had cash and cash equivalents and short-term investments of $289.4 million, which the management believes will be sufficient to fund operations for at least one year from the issuance of these consolidated financial statements. However, if the Company needs to obtain additional financing to fund operations beyond this period, there can be no assurance that it will be successful in raising additional financing on terms which are acceptable to the Company. If the Company requires but is unable to obtain additional funding, the Company could be forced to delay, reduce or eliminate some or all of its research and development programs, product portfolio expansion or commercialization efforts, which could adversely affect its business prospects, or the Company may be unable to continue operations.

The Company (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 1,207,253	$ 1,033,034
Cash, cash equivalents, and short-term investments	$ 289,400

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

Stock-based compensation

9 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-based compensation

The Company grants stock-based awards, consisting of stock options and restricted stock, to its employees, certain non-employee consultants and certain members of its board of directors. The Company measures stock-based compensation

expense for restricted stock and stock options granted to its employees and directors on the date of grant and recognizes the corresponding compensation expense of those awards over the requisite service period, which is generally the vesting period of the respective award. The Company measures stock-based compensation expense for restricted stock and stock options granted to non-employee consultants on the date of grant and recognizes the corresponding compensation expense of those awards over the period in which the related services are received. The Company adjusts for actual forfeitures as they occur.

2018 Equity Incentive Plan

On September 26, 2018, the board of directors adopted the 2018 Equity Incentive Plan (the “2018 Plan”) as a successor to the 2013 Stock Plan (the “2013 Plan”). Any shares subject to outstanding awards under the 2013 Plan that are canceled or repurchased subsequent to the 2018 Plan’s effective date are returned to the pool of shares reserved for issuance under the 2018 Plan. Awards granted under the 2018 Plan may be non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, and performance units.

Inducement Equity Incentive Plan

On August 22, 2023, the board of directors adopted an inducement equity incentive plan (the “Inducement Plan”). The maximum aggregate number of shares that may be issued under the Inducement Plan is 700,000 of the Company's common stock. The Inducement Plan permits the grant of non-statutory stock options, restricted stock, restricted stock units, stock appreciation rights, performance units and performance shares. The shares issuable under the Inducement Plan are registered pursuant to a registration statement on Form S-8 filed with the Securities and Exchange Commission on August 25, 2023.

Restricted Stock Units

Restricted stock consists of restricted stock unit awards (“RSUs”) which have been granted to employees and non-employee directors. The value of an RSU award is based on the Company’s stock price on the date of grant. Employee grants generally vest over four years and non-employee director grants generally vest over one year. Forfeitures of RSUs are recognized as they occur. The shares underlying the RSU awards are not issued until the RSUs vest. Upon vesting, each RSU converts into one share of the Company’s common stock.

Activity with respect to the Company’s restricted stock units during the nine months ended June 30, 2024 was as follows:


(in thousands, except per share data)	Shares	Weighted average grant date fair value per share
Nonvested shares at September 30, 2023	1,620	$	40.73
Granted	1,414	26.10
Vested/Issued	(604)	39.61
Forfeited	(262)	40.08
Nonvested shares at June 30, 2024	2,168	$	31.62

As of June 30, 2024, there was $62.3 million of total unrecognized compensation cost related to these awards that is expected to be recognized over a weighted average period of 2.6 years. The total grant date fair value of RSUs awarded during the nine months ended June 30, 2024 was $36.9 million.

Performance Stock Units

Performance stock unit awards (“PSUs”) granted to Company executives will vest upon achievement of multiple year revenue, gross profit and cash balance metrics as determined by the board of directors, and to certain non-employee consultants will vest upon achievement of operational milestones. Stock compensation expense for PSUs is recorded over the vesting period based on the grant date fair value of the awards and probability of the achievement of specified performance targets. The grant date fair value is equal to the closing share price of the Company’s common stock on the date of grant. For Company executives, PSUs generally vest over a two to three-year service period following the grant date, provided that the recipient is a Company employee at the time of vesting and the performance targets applicable to each award are achieved. For non-employees, PSUs generally vest over a one to three-year service period following the grant date, provided that the performance targets applicable to each award are achieved. The percentage of PSUs that vest will depend on the achievement of specified performance targets at the end of the performance period and can range from 0% to 150% of the number of units granted. Any PSUs that are unvested at the end of the performance period are forfeited. Forfeitures of PSUs are recognized as they occur.

Activity under the PSUs during the nine months ended June 30, 2024 is summarized below:


(in thousands, except per share data)	Shares	Weighted average grant date fair value per share
Nonvested shares at September 30, 2023	932	$	36.82
Granted	617	18.71
Vested/Issued	(84)	80.67
Forfeited	(81)	29.28
Nonvested shares at June 30, 2024	1,384	$	26.52

As of June 30, 2024, the unrecognized compensation costs related to these awards was $18.1 million based on the maximum achievement of the performance targets. The Company expects to recognize those costs over a weighted average period of 1.3 years. The total grant date fair value of PSUs awarded during the nine months ended June 30, 2024 was $11.5 million.

Options

Options are generally granted to employees and were granted to non-employee directors until FY 2020. Stock options entitle the holder to purchase, at the end of the vesting term, a specified number of shares of Company common stock at an exercise price per share equal to the closing market price of the common stock on the date of grant. Stock options have a contractual life from the date of the grant and a vesting schedule as established by the board of directors. The maximum term of stock options granted under the 2018 Plan is 10 years and the awards generally vest over a four-year period. Forfeitures of options are recognized as they occur. The fair value of each service based stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The Company has not granted any stock options during the three and nine months ended June 30, 2024 or 2023.

Options activity during the nine months ended June 30, 2024 is summarized below:


(in thousands, except per share data)	Shares	Weighted average exercise price per share		Weighted average remaining contractual term (years)	Aggregate intrinsic value
Outstanding at September 30, 2023	2,119	$	24.18	5.25	$	6,715
Forfeited	(115)	38.64		—	—
Exercised	(261)	19.85		—	5,123

Outstanding at June 30, 2024	1,743	$23.88		4.41	$	47,265
Nonvested at June 30, 2024	6	106.25		7.03	—
Exercisable at June 30, 2024	1,737	$	23.61	4.40	$	47,265

As of June 30, 2024, the unrecognized compensation costs related to these awards was $0.3 million. The Company expects to recognize those costs over a weighted average period of 1.1 years. The Company did not grant any options during the nine months ended June 30, 2024.

Performance Stock Options

On September 1, 2020, the board of directors approved the implementation of a revised annual equity award program for executive officers, senior level employees and consultants to be granted as performance-based stock options ("PSOs") under the 2018 Plan. The PSOs issued to executive officers and senior level employees vested in prior years. The number of PSOs ultimately earned under the awards to a consultant is calculated based on the achievement of certain operational milestones. The maximum term of performance stock options granted under the 2018 Plan is 10 years for both employees and non-employees. The awards generally vest over a two-year period for executive officers and senior level employees. Awards to non-employees generally vest over a five-year period.

The provisions of the PSOs are considered a performance condition, and the effects of that performance condition are not reflected in the grant date fair value of the awards. The Company used the Black-Scholes method to calculate the fair value at the grant date without regard to the vesting condition and will recognize compensation cost for the options that are expected to vest. Forfeitures of PSOs are recognized as they occur. The Company reassesses the probability of the performance condition at each reporting period and adjusts the compensation cost based on the probability assessment. As

of June 30, 2024, the Company determined that 30,000 shares are expected to vest based on the probability of the performance condition that will be achieved under this equity award program.

Activity under the PSOs during the nine months ended June 30, 2024 is summarized below:


(in thousands, except per share data)	Shares	Weighted average exercise price per share		Weighted average remaining contractual term (years)	Aggregate intrinsic value
Outstanding at September 30, 2023	289	$	60.82	7.37	$	—
Nonvested at September 30, 2023	30	$	31.29	8.57	$	—
Exercisable at September 30, 2023	259	64.24		7.23	—
Forfeited	(12)	$	67.85	—	$	—
Exercisable at June 30, 2024	247	$	64.07	6.49	$	810
Nonvested at June 30, 2024	30	31.29		7.82	540
Outstanding at June 30, 2024	277	$	60.53	6.63	$	1,349

As of June 30, 2024, the unrecognized compensation costs related to these awards was $0.2 million. The Company expects to recognize those costs over a weighted average period of 0.8 years.

Total stock-based compensation expense recognized was as follows:


	Three months ended June 30,				Nine months ended June 30,
(in thousands)	2024		2023		2024		2023
Cost of revenues	$	1,033	$	1,286	$	3,006	$	3,898
Research and development	2,400		3,329		8,614		10,837
Selling, general and administrative	10,301		5,983		26,958		3,796
Total stock-based compensation	$	13,734	$	10,598	$	38,578	$	18,531

During the three and nine months ended June 30, 2023, stock-based compensation decreased primarily as a result of departing employee share forfeitures, and a stock-based credit related to a business combination due to non-achievement of a performance condition. An immaterial amount of stock-based compensation was capitalized to inventories attributable to employees who support the manufacturing of the Company's products for the three and nine months ended June 30, 2024 and 2023. An immaterial amount of stock-based compensation was capitalized to property and equipment related to capitalized software development costs for the three and nine months ended June 30, 2024. The stock-based compensation of $0.1 million and $0.5 million was capitalized to property and equipment related to the capitalized software development costs for the three and nine months ended June 30, 2023.

2018 Employee Stock Purchase Plan

On September 26, 2018, the board of directors adopted the 2018 Employee Stock Purchase Plan (the "2018 ESPP"). The number of shares reserved for issuance under the 2018 ESPP upon approval was 275,225 shares of the Company’s common stock, and it increases automatically on the first day of each fiscal year, following the fiscal year in which the 2018 ESPP became effective, by a number equal to the least of 249,470 shares, 1% of the shares of common stock outstanding at that time, or such number of shares determined by the Company’s board of directors. The number of shares reserved for issuance at June 30, 2024 was as follows:


(In thousands)						Shares available
Outstanding at September 30, 2023						539
Additional shares authorized						249
Shares issued during the period						(124)
Outstanding at June 30, 2024						664

Subject to any plan limitations, the 2018 ESPP allows eligible service providers (through qualified and non-qualified offerings) to contribute, normally through payroll deductions, up to 15% of their earnings for the purchase of the Company’s common stock at a discounted price per share. The offering periods begin in February and August of each year, except the initial offering period which commenced with the initial public offering in October 2018 and ended on August 20, 2019.

Unless otherwise determined by the board of directors, the Company’s common stock will be purchased for the accounts of employees participating in the 2018 ESPP at a price per share that is the lesser of 85% of the fair market value of the Company’s common stock on the first trading day of the offering period or 85% of the fair market value of the Company’s common stock on the last trading day of the offering period. During the three and nine months ended June 30, 2024 ESPP expenses of $0.5 million and $1.3 million, respectively was recognized. During the three and nine months ended June 30, 2023, activity under the 2018 ESPP was immaterial.

401(k) Savings Plan

During 2018, the Company adopted a 401(k) savings plan for the benefit of its employees. In January 2022, the Company modified its plan to include an employer matching contribution. The Company is required to make matching contributions to the 401(k) plan equal to 50% of the first 6% of wages deferred by each participating employee. The Company incurred expenses for employer matching contributions of $0.7 million and $2.0 million for the three and nine months ended June 30, 2024, respectively. The Company incurred expenses for employer matching contributions of $0.7 million and $2.2 million for the three and nine months ended June 30, 2023, respectively.

AbX Biologics, Inc. (Abveris) Acquisition

At September 30, 2022, management determined that the achievement of the performance condition relating to the equity awards granted in connection with the Abveris acquisition awards was probable, and cumulative stock-based compensation expense of $9.9 million was recognized during the year ended September 30, 2022. At December 31, 2022, management determined that the performance condition was not achieved, and therefore the cumulative stock-based compensation expense recognized to date was reversed, resulting in a reduction of stock compensation expense of $9.9 million in the three months ended December 31, 2022.

Geographic, product and industry information - By Industry (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Segment Reporting Information [Line Items]

Revenue

^[1]

$ 81,464

$ 63,740

$ 228,264

$ 178,163

Industrial chemicals/materials

Segment Reporting Information [Line Items]

Revenue

23,188

16,801

59,730

44,785

Academic research

Segment Reporting Information [Line Items]

Revenue

14,892

12,421

42,387

33,556

Healthcare

Segment Reporting Information [Line Items]

Revenue

42,823

33,988

124,637

97,764

Food/agricultural

Segment Reporting Information [Line Items]

Revenue

$ 561

$ 530

$ 1,510

$ 2,058

[1]

- Definition

+ References

+ Details

Stock-based compensation - Abveris Acquisition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense (reduction)	$ 13,734	$ 10,598	$ 38,578	$ 18,531
Abveris \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense (reduction)					$ 9,900

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Commitments and contingencies - Operating Leases On Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Assets:
Operating lease right-of-use assets	$ 61,277	$ 71,531
Current liabilities:
Current portion of operating lease liability	14,555	14,896
Noncurrent liabilities:
Operating lease liability, net of current portion	$ 72,625	$ 79,173

Fair value measurement - Summary of Reconciliation of Beginning and Ending Balances of the Level 3 Instruments (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2024 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of September 30, 2023	$ 3,711
Change in fair value	0
Additions during the year	0
Balance as of June 30, 2024	$ 3,711
Fair value, liability, recurring basis, unobservable input reconciliation, gain (loss), statement of income or comprehensive income	Change In Fair Value Of Contingent Consideration And Indemnity Holdback
Equity Method Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of September 30, 2023	$ 3,711
Change in fair value	0
Additions during the year	0
Balance as of June 30, 2024	$ 3,711

Goodwill and intangible assets (Tables)

9 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill balance

The goodwill balance is presented below:


(in thousands)	June 30, 2024		September 30, 2023
Balance at beginning of period/year	$	85,811	$	85,811
Balance at end of period/year	$	85,811	$	85,811

Summary of Intangible Assets

The intangible assets balances are presented below:


	June 30, 2024
(in thousands, except for years)	Weighted average Amortization period in years	Gross carrying amount		Impairment		Accumulated amortization		Net book value
Developed Technology	17	$	50,020	$	(25,198)	$	(10,081)	$	14,741
Customer Relationships	—	15,210		(10,541)		(4,669)		—
Tradenames & Trademarks	—	900		(125)		(775)		—
Total finite-lived intangible assets		$	66,130	$	(35,864)	$	(15,525)	$	14,741


	September 30, 2023
(in thousands, except for years)	Weighted average Amortization period in years	Gross carrying amount		Accumulated amortization		Net book value
Developed Technology	15	$	50,020	$	(7,636)	$	42,384
Customer Relationships	11	15,210		(3,461)		11,749
Tradenames & Trademarks	3	$	900	$	(550)	$	350
Total finite-lived intangible assets		$	66,130	$	(11,647)	$	54,483

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Statement of Comprehensive Income [Abstract]

Revenues

^[1]

$ 81,464

$ 63,740

$ 228,264

$ 178,163

Operating expenses:

Cost of revenues

46,193

41,845

133,148

112,956

Research and development

22,469

24,528

69,718

83,148

Selling, general and administrative

56,794

46,057

165,256

142,347

Restructuring and other costs

9,052

Impairment of long-lived assets

44,930

3,620

44,930

3,620

Change in fair value of contingent considerations and holdbacks

(581)

(5,913)

Total operating expenses

170,386

124,521

413,052

345,210

Loss from operations

(88,922)

(60,781)

(184,788)

(167,047)

Interest income

3,663

3,968

11,724

10,472

Interest expense

(1)

(4)

Other income (expense), net

(121)

(351)

(422)

Loss before income taxes

(85,380)

(56,773)

(173,415)

(157,001)

Income tax provision

(191)

(622)

(656)

(1,374)

Net loss attributable to common stockholders

(85,571)

(57,395)

(174,071)

(158,375)

Other comprehensive loss:

Change in unrealized gain (loss) on investments

(21)

(208)

1,308

Foreign currency translation adjustment

(54)

(538)

(35)

(100)

Comprehensive loss

$ (85,646)

$ (58,141)

$ (174,050)

$ (157,167)

Net loss per share attributable to common stockholders—basic (in usd per share)

$ (1.47)

$ (1.01)

$ (3.01)

$ (2.79)

Net loss per share attributable to common stockholders—diluted (in usd per share)

$ (1.47)

$ (1.01)

$ (3.01)

$ (2.79)

Weighted average shares used in computing net loss per share attributable to common stockholders—basic (in shares)

58,145

57,041

57,806

56,753

Weighted average shares used in computing net loss per share attributable to common stockholders—diluted (in shares)

58,145

57,041

57,806

56,753

[1]

Goodwill and intangible assets - Summary of Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Goodwill [Roll Forward]
Balance at beginning of year	$ 85,811	$ 85,811
Balance at end of year	$ 85,811	$ 85,811

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
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-Section 55
-Paragraph 49
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Geographic, product and industry information - By Product (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Segment Reporting Information [Line Items]

Revenue

^[1]

$ 81,464

$ 63,740

$ 228,264

$ 178,163

Synthetic genes

Segment Reporting Information [Line Items]

Revenue

24,948

19,302

67,031

53,488

Oligo pools

Segment Reporting Information [Line Items]

Revenue

4,166

3,735

12,295

10,749

DNA libraries

Segment Reporting Information [Line Items]

Revenue

3,848

2,880

10,318

7,542

Antibody discovery

Segment Reporting Information [Line Items]

Revenue

5,102

4,580

15,029

19,785

NGS tools

Segment Reporting Information [Line Items]

Revenue

$ 43,400

$ 33,243

$ 123,591

$ 86,599

[1]

- Definition

+ References

+ Details

Common stock (Details)	9 Months Ended
Common stock (Details)	Jun. 30, 2024 vote $ / shares	Sep. 30, 2023 $ / shares
Equity [Abstract]
Common stock, par value (in usd per share) \| $ / shares	$ 0.00001	$ 0.00001
Number of votes per share \| vote	1

Commitments and contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Change in right-of-use asset			$ 7.5	$ 2.9
Change in operating lease liabilities			6.9	1.9
Operating lease expense	$ 3.8	$ 3.9	11.8	12.2
Operating lease payments	$ 3.7	$ 3.6	$ 11.1	$ 11.1
Lease weighted-average remaining lease term	15 years 2 months 12 days		15 years 2 months 12 days
Lease weighted average discount rate	6.50%		6.50%