vs
Side-by-side financial comparison of C3.ai, Inc. (AI) and Twist Bioscience Corp (TWST). Click either name above to swap in a different company.
Twist Bioscience Corp is the larger business by last-quarter revenue ($103.7M vs $75.1M, roughly 1.4× C3.ai, Inc.). Twist Bioscience Corp runs the higher net margin — -29.4% vs -139.3%, a 109.9% gap on every dollar of revenue. On growth, Twist Bioscience Corp posted the faster year-over-year revenue change (16.9% vs -20.3%). Twist Bioscience Corp produced more free cash flow last quarter ($-34.8M vs $-46.9M).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
Twist Bioscience is a public biotechnology company based in South San Francisco that manufactures synthetic DNA and DNA products for customers in a wide range of industries. Twist was founded in 2013 by Emily Leproust, Bill Banyai, and Bill Peck.
AI vs TWST — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $103.7M |
| Net Profit | $-104.7M | $-30.5M |
| Gross Margin | 40.4% | 52.0% |
| Operating Margin | -149.2% | -31.7% |
| Net Margin | -139.3% | -29.4% |
| Revenue YoY | -20.3% | 16.9% |
| Net Profit YoY | -58.7% | 3.4% |
| EPS (diluted) | $-0.75 | $-0.50 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | $103.7M | ||
| Q3 25 | $70.3M | — | ||
| Q2 25 | $108.7M | — | ||
| Q1 25 | $98.8M | — | ||
| Q4 24 | $94.3M | — | ||
| Q3 24 | $87.2M | — | ||
| Q2 24 | $86.6M | — | ||
| Q1 24 | $78.4M | — |
| Q4 25 | $-104.7M | $-30.5M | ||
| Q3 25 | $-116.8M | — | ||
| Q2 25 | $-79.7M | — | ||
| Q1 25 | $-80.2M | — | ||
| Q4 24 | $-66.0M | — | ||
| Q3 24 | $-62.8M | — | ||
| Q2 24 | $-72.9M | — | ||
| Q1 24 | $-72.6M | — |
| Q4 25 | 40.4% | 52.0% | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 62.1% | — | ||
| Q1 25 | 59.1% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 59.8% | — | ||
| Q2 24 | 59.6% | — | ||
| Q1 24 | 57.8% | — |
| Q4 25 | -149.2% | -31.7% | ||
| Q3 25 | -177.7% | — | ||
| Q2 25 | -81.8% | — | ||
| Q1 25 | -88.7% | — | ||
| Q4 24 | -79.8% | — | ||
| Q3 24 | -83.2% | — | ||
| Q2 24 | -95.1% | — | ||
| Q1 24 | -105.3% | — |
| Q4 25 | -139.3% | -29.4% | ||
| Q3 25 | -166.2% | — | ||
| Q2 25 | -73.3% | — | ||
| Q1 25 | -81.2% | — | ||
| Q4 24 | -69.9% | — | ||
| Q3 24 | -72.0% | — | ||
| Q2 24 | -84.2% | — | ||
| Q1 24 | -92.6% | — |
| Q4 25 | $-0.75 | $-0.50 | ||
| Q3 25 | $-0.86 | — | ||
| Q2 25 | $-0.60 | — | ||
| Q1 25 | $-0.62 | — | ||
| Q4 24 | $-0.52 | — | ||
| Q3 24 | $-0.50 | — | ||
| Q2 24 | $-0.59 | — | ||
| Q1 24 | $-0.60 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $197.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $771.9M | $456.1M |
| Total Assets | $961.3M | $638.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $197.9M | ||
| Q3 25 | $711.9M | — | ||
| Q2 25 | $742.7M | — | ||
| Q1 25 | $724.3M | — | ||
| Q4 24 | $730.4M | — | ||
| Q3 24 | $762.5M | — | ||
| Q2 24 | $750.4M | — | ||
| Q1 24 | $723.3M | — |
| Q4 25 | $771.9M | $456.1M | ||
| Q3 25 | $798.8M | — | ||
| Q2 25 | $838.3M | — | ||
| Q1 25 | $860.2M | — | ||
| Q4 24 | $859.0M | — | ||
| Q3 24 | $874.9M | — | ||
| Q2 24 | $873.4M | — | ||
| Q1 24 | $898.0M | — |
| Q4 25 | $961.3M | $638.1M | ||
| Q3 25 | $968.7M | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.1B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-46.5M | $-24.8M |
| Free Cash FlowOCF − Capex | $-46.9M | $-34.8M |
| FCF MarginFCF / Revenue | -62.4% | -33.5% |
| Capex IntensityCapex / Revenue | 0.5% | 9.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $-24.8M | ||
| Q3 25 | $-33.5M | — | ||
| Q2 25 | $11.3M | — | ||
| Q1 25 | $-22.0M | — | ||
| Q4 24 | $-38.7M | — | ||
| Q3 24 | $8.0M | — | ||
| Q2 24 | $21.3M | — | ||
| Q1 24 | $-39.1M | — |
| Q4 25 | $-46.9M | $-34.8M | ||
| Q3 25 | $-34.3M | — | ||
| Q2 25 | $10.3M | — | ||
| Q1 25 | $-22.4M | — | ||
| Q4 24 | $-39.5M | — | ||
| Q3 24 | $7.1M | — | ||
| Q2 24 | $18.8M | — | ||
| Q1 24 | $-45.1M | — |
| Q4 25 | -62.4% | -33.5% | ||
| Q3 25 | -48.8% | — | ||
| Q2 25 | 9.5% | — | ||
| Q1 25 | -22.7% | — | ||
| Q4 24 | -41.9% | — | ||
| Q3 24 | 8.2% | — | ||
| Q2 24 | 21.7% | — | ||
| Q1 24 | -57.6% | — |
| Q4 25 | 0.5% | 9.6% | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 7.8% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
TWST
| Industrial Chemicals | $37.2M | 36% |
| Diagnostics | $35.3M | 34% |
| Food Or Agriculture | $12.8M | 12% |
| Academic Research | $12.2M | 12% |
| Health Care | $6.1M | 6% |
