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Dec 31, 2023
Ginkgo Bioworks Q4 2023 Earnings Report
Announced results for the fourth quarter and year ended December 31, 2023, with a decrease in total revenue primarily due to the expected ramp down of K-12 testing in the Biosecurity segment and the impact of Cell Engineering downstream value share.
Key Takeaways
Ginkgo Bioworks reported Q4 2023 total revenue of $35 million, a decrease of 65% compared to the prior year, driven by reduced Biosecurity revenue and lower Cell Engineering downstream value share. The company's loss from operations was $(178) million. Year-end cash balance was nearly $950 million.
Total revenue for Q4 2023 was $35 million, down from $98 million in the comparable prior year period.
Cell Engineering services revenue for Q4 2023 was $27 million, a 26% decrease from $36 million in the comparable prior year period.
Biosecurity revenue for Q4 2023 was $8 million with a gross profit margin of 15%.
Loss from operations for Q4 2023 was $(178) million, compared to $(231) million in the comparable prior year period.
Ginkgo Bioworks
Ginkgo Bioworks
Ginkgo Bioworks Revenue by Segment
Revenue by Segment
Cell Engineering Revenue
CapyFin.comBiosecurity Revenue
CapyFin.com Forward Guidance
Ginkgo provided full year 2024 guidance, expecting to add 100-120 new Cell Programs and total revenue of $215-$235 million, including Cell Engineering services revenue of $165-185 million and Biosecurity revenue of at least $50 million.
Positive Outlook
- Expects to add 100-120 new Cell Programs to the Cell Engineering platform in 2024.
- Expects Cell Engineering services revenue of $165-185 million in 2024.
- Driven by expected growth in biopharma and government programs.
- Guidance excludes the impact of any potential downstream value share revenue.
- Expects Biosecurity revenue in 2024 of at least $50 million, representing approximate current contracted backlog, with potential upside from additional opportunities in the pipeline.
Revenue & Expenses
Visualization of income flow from segment revenue to net income