On February 29, 2024, Ginkgo Bioworks Holdings, Inc., a Delaware-based company specializing in cell programming and biosecurity, reported its financial results for the fourth quarter of 2023 and the full year ended December 31, 2023. The company, which trades under the symbol DNA on the NYSE, announced a total revenue of $251 million for 2023, with $139 million generated from Cell Engineering services, marking a 31% growth over the previous year. The addition of 78 new Cell Programs in 2023 represented a 32% increase, with significant expansion in the biopharma sector through partnerships with companies like Boehringer Ingelheim, Merck, Novo Nordisk, and Pfizer. Ginkgo's year-end cash balance stood at nearly $950 million, providing a substantial runway as the company aims for profitability and benefits from improved platform efficiency. The Biosecurity...Show More

On February 29, 2024, Ginkgo Bioworks Holdings, Inc., a Delaware-based company specializing in cell programming and biosecurity, reported its financial results for the fourth quarter of 2023 and the full year ended December 31, 2023. The company, which trades under the symbol DNA on the NYSE, announced a total revenue of $251 million for 2023, with $139 million generated from Cell Engineering services, marking a 31% growth over the previous year. The addition of 78 new Cell Programs in 2023 represented a 32% increase, with significant expansion in the biopharma sector through partnerships with companies like Boehringer Ingelheim, Merck, Novo Nordisk, and Pfizer. Ginkgo's year-end cash balance stood at nearly $950 million, providing a substantial runway as the company aims for profitability and benefits from improved platform efficiency. The Biosecurity segment generated $108 million in revenue, transitioning to a more recurring model focused on global reach and multiple pathogens. Ginkgo's partnerships, including with the Qatar Free Zones Authority and Illumina, aim to build a global biosecurity infrastructure. The company also announced acquisitions to enhance AI and biopharma capabilities. For the fourth quarter of 2023, Ginkgo reported a total revenue of $35 million, a 65% decrease from the prior year, primarily due to the expected ramp down of K-12 testing in the Biosecurity segment and non-recurring equity milestones in Cell Engineering. The fourth quarter also saw a loss from operations of $(178) million, including stock-based compensation expense. Adjusted EBITDA for the quarter was $(96) million. Looking ahead, Ginkgo expects to add 100-120 new Cell Programs in 2024 and forecasts total revenue of $215-$235 million, with Cell Engineering services revenue projected at $165-185 million and Biosecurity revenue at least $50 million. The company held a videoconference on February 29, 2024, to discuss these results and provide an outlook for the future.