NYSE$DNA
Ginkgo Bioworks Holdings · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Announced first quarter 2024 financial results and initiatives to accelerate path to Adjusted EBITDA breakeven by end of 2026.
Ginkgo Bioworks reported a decrease in total revenue to $38 million for Q1 2024, down from $81 million in the comparable prior year period. The company is implementing initiatives to reduce operating expenses by $200 million by mid-2025 and targeting adjusted EBITDA breakeven by the end of 2026, supported by a cash balance of $840 million.
- Total revenue for Q1 2024 was $38 million, a 53% decrease compared to the prior year, primarily due to the ramp down of K-12 testing in the Biosecurity segment.
- Cell Engineering revenue for Q1 2024 was $28 million, an 18% decrease compared to the prior year.
- Biosecurity revenue for Q1 2024 was $10 million, with a gross profit margin of 8%, reflecting the transition to a more recurring business model.
- The company aims to achieve Adjusted EBITDA breakeven by the end of 2026 through cost reductions and simplification of customer programs.
Headline financials
Revenue & EPS history
Ginkgo Bioworks · Revenue · Quarterly
$37.9M
Forward guidance
Ginkgo expects total revenue of $170-$190 million in 2024, with Cell Engineering services revenue expected to be $120-140 million and Biosecurity revenue expected to be at least $50 million.
Tailwinds
- Targeting Adjusted EBITDA breakeven by the end of 2026.
- Reducing annualized run-rate operating expenditures by $200 million by mid-2025.
- Consolidating Foundry operations into core facilities like Biofab1.
- Reducing labor expenses by at least 25% across G&A and R&D functions.
- Simplifying and standardizing customer programs to drive increased automation.
Headwinds
- Weaker than expected revenue ramp during the year.
- Uncertainty relating to the timing of technical milestones.
- Potential near-term impact of restructuring actions.
- Exclusion of potential downstream value share from revenue guidance.
- Changes to deal structures.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-2.5%
Avg return
Earnings day
-8.6%
Avg return
5 days after
-12.3%
Avg return
30 days after
32%
7 / 22 earnings
Positive
+25.4%
Q4 2021
Best reaction
-20.8%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.9% | -17.5% | -19.4% | |
| Q4 2025 | +3.1% | -28.6% | -36.8% | |
| Q3 2025 | -20.8% | -26.0% | -18.1% | |
| Q1 2025 | +14.8% | +28.8% | +17.7% | |
| Q4 2024 | -11.5% | -22.2% | -40.5% | |
| Q3 2024 | -1.8% | -27.3% | +17.9% | |
| Q2 2024 | -1.5% | +2.6% | -48.4% | |
| Q1 2024 | -14.8% | -3.4% | -42.4% | |
| Q4 2023 | -15.1% | -24.3% | -23.7% | |
| Q3 2023 | -18.2% | -16.9% | -11.7% | |
| Q2 2023 | -15.9% | -13.9% | +0.0% | |
| Q1 2023 | -2.9% | -3.6% | +35.0% | |
| Q4 2022 | -4.8% | -7.5% | -9.5% | |
| Q3 2022 | -6.3% | -23.2% | -41.1% | |
| Q2 2022 | +3.0% | -21.5% | -15.4% | |
| Q1 2022 | +3.0% | -1.9% | -2.6% | |
| Q4 2021 | +25.4% | +14.8% | -6.3% | |
| Q4 2019 | -0.3% | -0.5% | -11.8% | |
| Q3 2021 | +8.5% | +4.3% | -15.9% | |
| Q2 2021 | -0.1% | -0.3% | +1.5% | |
| Q1 2021 | +0.0% | -0.2% | +0.2% | |
| Q4 2020 | +0.0% | -0.2% | +0.2% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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