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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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