Ginkgo Bioworks Holdings, Inc. (DNA) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. ...

Ginkgo Bioworks to apply its mammalian cell engineering expertise to develop new cell-based systems for treating and monitoring endocrine disordersBOSTON, Dec. 17, 2024 /PRNewswire/ -- Ginkgo Bioworks (NYSE: DNA), which is building the leading platform for cell programming and biosecurity, today announced a subcontract of up to $9.4 million awarded in partnership with Carnegie Mellon University to develop bioelectronic cell-based devices aimed at diagnosing and treating hormone disorders. This initiative is ...

Ginkgo Bioworks (NYSE: DNA ) reported solid results in the third quarter, although the company's performance was weaker than the financials suggest, as Ginkgo recognized 45 million USD of non-cash revenue that has no value. Ginkgo's transition away from downstream value Richard Durant is the leader of Narweena, an asset manager focused on finding market dislocations that are the result of a poor understanding of a businesses long-term prospects. Narweena believes that excess risk adjusted returns can be ach ...

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Financial Data and Key Metrics Changes - The company ended Q3 2024 with $616 million in cash and no bank debt, exceeding its cost-cutting target for 2024 [5][8] - Adjusted EBITDA improved to negative $20 million from negative $84 million in Q3 2023, attributed to cost-cutting initiatives and a noncash deferred revenue release [22][26] - Total revenue guidance for the year was updated to $215 million to $235 million, with cell engineering services revenue expected to be $165 million to $185 million [25][26] Business Line Data and Key Metrics Changes - Cell engineering revenue was $30 million, down 20% year-over-year, primarily due to a shift from small early-stage customers to large enterprise customers [11][12] - The biosecurity business generated $14 million in revenue with a gross margin of 28%, showing a decline quarter-over-quarter [17] - The company supported 136 active programs across 81 customers in cell engineering, a 17% increase year-over-year [12] Market Data and Key Metrics Changes - The company is seeing strong traction in its newly launched data points business, with recent wins from top 25 biopharma customers [7][56] - The sales pipeline for both cell engineering and data points deals is strong, indicating potential for future growth [16] Company Strategy and Development Direction - The company aims to reach adjusted EBITDA breakeven while maintaining a cash margin of safety, with significant cost reductions already achieved [5][8] - There is a strategic focus on expanding revenue in solutions while also selling tools, with a notable emphasis on partnerships with blue-chip customers [6][30] - The company is consolidating operations and reducing costs, including a 35% reduction in workforce and significant cuts in contractor and professional fees [33][34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's ability to navigate the current biotech downturn and emphasized the importance of reaching breakeven without needing to raise additional capital [80] - The company is focused on executing within its core areas of government, pharma, and agriculture, which now account for over 70% of its business [84] - Management highlighted the potential for growth in the biosecurity sector, particularly in light of recent health concerns related to H5N1 [66][71] Other Important Information - The company recognized $45 million in noncash revenue from the termination of a customer agreement with Motif FoodWorks, which impacted revenue reporting [10][25] - Cash burn in Q3 was affected by nonrecurring items, including litigation settlements and employee severance, but is expected to decrease significantly in Q4 [23][24] Q&A Session Summary Question: Can you provide more clarity into what the Company's strategy is? - The company is expanding into tools to leverage existing assets and provide advanced bioengineering technologies, aiming for breakeven while tightening spending [78][81] Question: Have you started to notice a clear improvement in resource utilization and efficiency? - The company has shifted focus towards government and pharma, leading to efficiency gains and cost reductions while maintaining revenue targets [84][86] Question: Any signs of sequential stabilization in biopharma funding? - There are signs of life in biopharma funding, with the company seeing initial deals with major biopharma, although the overall market remains challenging [89][90] Question: How has the transition been towards a multiproduct or multiservice company? - The transition has been positive, with synergies between offerings and a focus on ensuring internal teams are aligned to deliver products effectively [95][99] Question: Can we expect one-time costs associated with restructuring to repeat? - The company expects total one-time costs related to restructuring to be in the range of $18 million to $22 million, with approximately $15 million accrued to date [104]

Ginkgo Bioworks Holdings, Inc. (DNA) came out with a quarterly loss of $1.08 per share versus the Zacks Consensus Estimate of a loss of $2.40. This compares to loss of $3.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 55%. A quarter ago, it was expected that this company would post a loss of $3.20 per share when it actually produced a loss of $3.20, delivering no surprise.Over the last four quarters, the company has surpas ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ______________________________________________ FORM 10-Q ______________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to _________________ | --- ...

Revenue Performance - Total revenue for Q3 2024 was $89 million, a 61% increase from $55 million in the same period last year, primarily due to a $45 million non-cash revenue release[3]. - Excluding the non-cash revenue, total revenue was $44 million, representing a 21% decrease year-over-year[3]. - Total revenue for Q3 2024 was $89.046 million, a 60.6% increase from $55.430 million in Q3 2023[15]. - Cell Engineering revenue reached $75.089 million in Q3 2024, compared to $37.176 million in Q3 2023, marking a 101.5% increase[15]. - Biosecurity revenue decreased to $13.957 million in Q3 2024, down 23.5% from $18.254 million in Q3 2023[21]. Operational Loss and Expenses - Loss from operations for Q3 2024 was $(55) million, significantly improved from $(286) million in the prior year[3]. - Total operating loss for Q3 2024 was $55.204 million, significantly improved from a loss of $286.393 million in Q3 2023[21]. - Total operating expenses for Q3 2024 were $144.250 million, significantly lower than $341.823 million in Q3 2023, a decrease of 57.7%[15]. - Research and development expenses for Q3 2024 were $77.006 million, down from $156.662 million in Q3 2023, representing a 50.9% reduction[15]. - General and administrative expenses for Q3 2024 totaled $39.359 million, a decrease of 28.2% compared to $54.824 million in Q3 2023[21]. - Stock-based compensation for Q3 2024 was $14.013 million, down from $53.647 million in Q3 2023[21]. Cash and Equity - Cash and cash equivalents at the end of Q3 2024 totaled $616 million[3]. - Cash and cash equivalents at the end of the period were $616.214 million, down from $944.073 million at the beginning of the period[20]. - Total stockholders' equity decreased to $797.943 million from $1,097.152 million year-over-year[15]. Future Guidance and Goals - Ginkgo updated its 2024 revenue guidance to $215-235 million, reflecting the impact of the $45 million non-cash deferred revenue release[6]. - Ginkgo aims to achieve Adjusted EBITDA breakeven by the end of 2026, with an estimated $85 million in annualized savings from workforce reductions by mid-2025[5]. New Programs and Contracts - The company added 25 new programs and contracts in Cell Engineering during Q3 2024, including a new deal with Novo Nordisk[4]. Comprehensive Loss - The company reported a comprehensive loss of $54.417 million for Q3 2024, compared to a comprehensive loss of $304.490 million in Q3 2023[16].

Ginkgo provides update on its restructuring process including an acceleration of site consolidation initiatives and continued progress on cost reductionsGinkgo signs new and expanded deals with Novo Nordisk and achieves a major research milestone with Merck  BOSTON, Nov. 12, 2024 /PRNewswire/ -- Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, "Ginkgo"), which is building the leading platform for cell programming and biosecurity, today announced its results for the third quarter ended September 30, 2024. The upda ...

BOSTON, Nov. 12, 2024 /PRNewswire/ -- Ginkgo Bioworks (NYSE: DNA), which is building the leading platform for cell programming and biosecurity, today announced the completion of the first milestone of a previously announced partnership with Merck, known as MSD outside of the United States and Canada, focused on improving biologic manufacturing. As part of this milestone completion, Ginkgo will receive a research milestone payment of $9 million in cash.The two companies will now move on to the second stage o ...