Stock-based Compensation (Tables)

3 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Stock-Based Compensation Expenses

Total stock-based compensation expense recognized were as follows:


	Three months ended December 31,
(in thousands)	2025		2024
Cost of revenues	$	1,276	$	1,206
Research and development	1,596		2,739
Selling, general and administrative	10,401		8,046
Total stock-based compensation expense	$	13,273	$	11,991

Summary of Nonvested Restricted Stock Units Activity

A summary of the Company’s restricted stock unit activity excluding the performance-based restricted stock units during the three months ended December 31, 2025 was as follows:


(in thousands, except per share data)	Shares	Weighted average grant date fair value per share
Nonvested shares at September 30, 2025	1,882	$	37.21
Granted	1,381	29.07
Vested/Issued	(208)	38.51
Forfeited	(43)	36.66
Nonvested shares at December 31, 2025	3,012	$	33.40

Summary of Nonvested Performance-based Units Activity

A summary of the Company’s performance-based restricted stock units activity during the three months ended December 31, 2025 was as follows:


(in thousands, except per share data)	Shares	Weighted average grant date fair value per share
Nonvested shares at September 30, 2025	1,934	$	37.85
Granted	919	26.46
Vested/Issued	(419)	22.10
Forfeited	(25)	43.27
Nonvested shares at December 31, 2025	2,409	$	36.19

Summary of Activity Under Option and Performance Stock Options

A summary of the Company’s options including the performance-based stock options during the three months ended December 31, 2025 was as follows:


(in thousands, except per share and contractual term data)	Shares	Weighted average exercise price per share		Weighted average remaining contractual term (years)	Aggregate intrinsic value
Outstanding at September 30, 2025	1,276	$	30.80	3.59	$	6,616
Forfeited	(2)	69.87		—	—
Exercised	(15)	19.48		—	172
Outstanding at December 31, 2025	1,259	$	30.88	3.34	$	10,051
Vested and exercisable at December 31, 2025	1,259	$	30.88	3.34	$	10,051

Summary of Stock Option Valuation Assumptions

The number of shares of the Company's common stock reserved for issuance under the 2018 Employee Stock Purchase Plan ("ESPP") as of December 31, 2025 was as follows:


(in thousands)						Shares available
As of September 30, 2025						716
Additional shares authorized						249
Shares issued during the period						—
As of December 31, 2025						965

Twist Bioscience Corp 10-Q