01:22 PM EDT, 05/03/2024 (MT Newswires) -- Twist Bioscience ( TWST ) shares advanced nearly 26% in recent Friday trading, a day after the company reported fiscal Q2 results that topped estimates and increased its revenue outlook for fiscal 2024.

The company reported a fiscal Q2 loss late Thursday of $0.79 per diluted share, compared with a loss of $1.04 a year earlier.

Analysts polled by Capital IQ expected a per-share loss of $0.83.

Revenue for the quarter ended March 31 was $75.3 million, up from $60.2 million a year earlier.

Analysts surveyed by Capital IQ expected $71.5 million.

The company said it expects revenue of $77 million for fiscal Q3 and $77 million to $80 million for fiscal Q4. Analysts surveyed by Capital IQ expect $76.6 million and $79.3 million, respectively.

For fiscal year 2024, Twist Bioscience ( TWST ) raised its revenue forecast to a range of $300 million to $304 million, from the previous outlook of $288 million to $293 million. Four analysts polled by Capital IQ expect $303.5 million.

Price: 40.30, Change: +8.29, Percent Change: +25.90