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  "docSlug": "5fadb686cc03",
  "documentTitle": "Twist Bioscience (TWST)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
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  "presentationDate": "2022-11-15 00:00:00",
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  "notes": "Uses a combination of earnings call transcript excerpts and a table from a 10K filing to point out the discrepancy.",
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      "kind": "callout",
      "text": "Use stated as \"DNA Data Storage facility,' not manufacturing",
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      "text": "Use stated as “DNA Data Storage facility,’ not manufacturing",
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      "text": "In addition to its \"Factory of the Future,\" Twist suggests it is spending tens of millions in capital expenditure on its \"DNA Storage Initiative.\" In a recent earnings call, CFO Jim Thorburn stated that \"we're investing about $40 million in data storage,\" in response to a question on the cash burn. In its 10K, Twist even implies that the \"Factory of the Future\" and the DNA storage initiative are one and the same, as the filing explicitly states that the \"Use\" of the Factory is as a \"DNA Data Storage facility.\"",
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      "text": "CapEx for the quarter was $22 million, mostly associated with our Factory of the Future investment...We're investing about $40 million in Data Storage. And obviously, for overall CapEx, the bulk of the CapEx investment, approximately $75 million of the $100 million this year is for the Factory of the Future.",
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      "text": "“CapEx for the quarter was $22 million, mostly associated with our Factory of the Future investment...We're investing about $40 million in Data Storage.” — James M. Thorburn, Twist CFO",
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      "text": "Source: Capital IQ earnings call transcripts; Twist SEC filings",
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      "text": "Table of Principal Facilities showing location, square footage, lease expiration, use, and ownership status.",
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