NYSE$DNA
Ginkgo Bioworks Holdings · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Ginkgo Bioworks reported a decrease in total revenue due to the expected ramp down of K-12 testing in the Biosecurity segment, but saw growth in Cell Engineering revenue and added 21 new Cell Programs to the Foundry platform.
Ginkgo Bioworks reported a total revenue of $81 million, a 44% decrease compared to the prior year, driven by the expected ramp down of K-12 testing in the Biosecurity segment. However, Cell Engineering revenue increased slightly, and the company added 21 new Cell Programs to its Foundry platform. The company ended the quarter with approximately $1.1 billion in cash and cash equivalents.
- Added 21 new Cell Programs to the Foundry platform, a 62% increase over the prior year period.
- Cell Engineering segment revenue was $45 million, a slight increase from $44 million in the prior year period.
- Biosecurity segment revenue was $35 million, shifting away from COVID-19 testing programs towards a more recurring model.
- Ended Q2 2023 with approximately $1.1 billion in cash and cash equivalents.
Headline financials
Revenue & EPS history
Ginkgo Bioworks · Revenue · Quarterly
$80.6M
Forward guidance
Ginkgo is targeting 100 new Cell Programs and expects total revenue of $245 to $260 million in 2023, including Cell Engineering revenue of $145 to $160 million and Biosecurity revenue of at least $100 million.
Tailwinds
- Targeting 100 new Cell Programs to the Foundry platform in 2023
- Expecting Total revenue of $245 to $260 million in 2023
- Revised expectation for Cell Engineering revenue to $145 to $160 million in 2023
- Expect Biosecurity revenue in 2023 of at least $100 million
- Mix shift towards emerging product lines that are expected to be more recurring in nature
Headwinds
- Revenue decrease primarily driven by the expected ramp down of K-12 testing in Ginkgo’s Biosecurity segment
- Revision is driven by an evolution in the typical size and structure of our contracts, including success-based pricing which is impacting the timing of revenue recognition.
- Challenging environment, particularly for industrial biotechnology
- Biosecurity remains an uncertain business
- Adjusted EBITDA of $(75) million, down from $(24) million in the comparable prior year period
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 Q2 2023
-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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