NYSE$DNA
Ginkgo Bioworks Holdings · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Announced results for the third quarter of 2024, showing revenue increase driven by a deferred revenue release and progress in restructuring and cost reduction initiatives.
Ginkgo Bioworks reported a 61% increase in total revenue to $89 million for Q3 2024, which includes $45 million from a non-cash deferred revenue release. Excluding this impact, revenue decreased by 21%. The company signed new deals with Novo Nordisk and achieved a major research milestone with Merck. They also made progress on cost reductions and are consolidating their real estate footprint.
- Total revenue increased to $89 million, up 61% year-over-year, including a $45 million non-cash deferred revenue release.
- Cell Engineering revenue, excluding the deferred revenue release, was $30 million, a 20% decrease year-over-year.
- Biosecurity revenue was $14 million with a gross profit margin of 28%.
- Loss from operations was $(55) million, improved from $(286) million in the prior year, and Adjusted EBITDA was $(20) million, up from $(84) million year-over-year.
Headline financials
Revenue & EPS history
Ginkgo Bioworks · Revenue · Quarterly
$89M
Forward guidance
Ginkgo updated its full year 2024 revenue guidance to reflect the $45 million non-cash deferred revenue release. Total revenue is expected to be $215-235 million, Cell Engineering services revenue is expected to be $165-185 million, and Biosecurity revenue is expected to be at least $50 million.
Tailwinds
- Total revenue guidance updated to $215-235 million.
- Cell Engineering services revenue guidance updated to $165-185 million.
- Biosecurity revenue guidance maintained at least $50 million.
- Reduction in force is estimated to achieve over $85 million in annualized savings by mid-2025.
- Ginkgo has continued implementing significant non-people cost cutting measures, including rationalizing third-party costs and site consolidation
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 Q3 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro