GINKGO BIOWORKS Reports Second Quarter FY2023 Earnings Results
August 16, 2023
🌥️Earnings Overview
GINKGO BIOWORKS ($NYSE:DNA) reported their financial results for the second quarter of FY2023, which ended on June 30 2023. Revenue for the quarter amounted to USD 80.6 million, a decrease of 44.3% from the same quarter of the previous year. In addition, the net income for this quarter was -173.3 million, a much lower figure in comparison to the -668.8 million reported in the same quarter of the previous year.
Stock Price
The stock opened at $2.1 and closed at $2.0, indicating a decrease of 3.4% from the last closing price of 2.1. This marks the first decrease in GINKGO BIOWORKS stock since the start of Q2 FY2023. As a result of the Second Quarter FY2023 results, the company is looking to explore new avenues of growth and profitability. GINKGO BIOWORKS will be launching new products and services to meet customer needs and drive more revenue in the future.
Additionally, the company plans to improve their cash flow from operations by improving cost efficiencies and increasing working capital. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ginkgo Bioworks. More…
| Total Revenues | Net Income | Net Margin |
| 325.95 | -1.23k | -377.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ginkgo Bioworks. More…
| Operations | Investing | Financing |
| -297.01 | -47.38 | 95.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ginkgo Bioworks. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.29k | 788.41 | 0.72 |
Key Ratios Snapshot
Some of the financial key ratios for Ginkgo Bioworks are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 106.6% | – | -367.5% |
| FCF Margin | ROE | ROA |
| -113.2% | -48.1% | -32.7% |
Analysis
At GoodWhale, we conducted an in-depth analysis of GINKGO BIOWORKS‘s wellbeing. According to our Risk Rating, GINKGO BIOWORKS is a medium risk investment when it comes to financial and business aspects. We identified 3 risk warnings in their balance sheet, cashflow statement, and financial journal. If you wish to take a closer look, you can register on goodwhale.com for more information. We have gathered all of the necessary data and compiled it to provide a comprehensive assessment of GINKGO BIOWORKS. With our platform, users can easily access a comprehensive view of the company’s business health and make essential decisions to protect their investments. More…
Peers
The competition among Ginkgo Bioworks Holdings Inc and its competitors is fierce. Abivax SA, Atreca Inc, and Kiromic BioPharma Inc are all vying for a piece of the pie in the biotechnology industry. Ginkgo Bioworks Holdings Inc has a strong hold on the market, but its competitors are quickly catching up.
– Abivax SA ($OTCPK:AAVXF)
Abivax SA is a clinical-stage biopharmaceutical company dedicated to the discovery and development of innovative therapies with the potential to transform the lives of patients suffering from chronic inflammatory diseases and cancer. The Company’s lead product, ABX464, is a first-in-class, orally-administered, anti-inflammatory and anti-viral small molecule that is currently being evaluated in several Phase II and Phase III clinical trials in ulcerative colitis, Crohn’s disease, and COVID-19. Abivax’s second most advanced product, ABX196, is a first-in-class, anti-cancer, small molecule that targets the p53 protein and is currently being evaluated in a Phase I/II clinical trial in multiple solid tumors.
Abivax SA has a market cap of 178.76M as of 2022, a Return on Equity of -132.3%. The company’s lead product, ABX464, is a first-in-class, orally-administered, anti-inflammatory and anti-viral small molecule that is currently being evaluated in several Phase II and Phase III clinical trials in ulcerative colitis, Crohn’s disease, and COVID-19. Abivax’s second most advanced product, ABX196, is a first-in-class, anti-cancer, small molecule that targets the p53 protein and is currently being evaluated in a Phase I/II clinical trial in multiple solid tumors.
– Atreca Inc ($NASDAQ:BCEL)
Atreca Inc is a biopharmaceutical company that focuses on the development of antibody-based therapeutics to treat cancer. As of 2022, its market cap is 59.43 million and its ROE is -86.67%. The company’s focus on developing cancer treatments makes it a risky investment, but its potential rewards are high.
– Kiromic BioPharma Inc ($NASDAQ:KRBP)
Kiromic BioPharma Inc is a clinical stage biopharmaceutical company that uses proprietary gene editing platform to develop cancer therapies. The company’s platform has the potential to edit genes in the body to correct mutations that cause disease. The company’s lead product candidate is KR-330, which is in Phase I/II clinical trials for the treatment of solid tumors.
Kiromic has a market cap of 5.32M as of 2022 and a Return on Equity of -127.9%. The company’s platform has the potential to edit genes in the body to correct mutations that cause disease. The company’s lead product candidate is KR-330, which is in Phase I/II clinical trials for the treatment of solid tumors.
Summary
GINKGO BIOWORKS‘ second quarter financial results for FY2023 revealed a decrease in total revenue of 44.3% year-over-year, with net income of -173.3 million. This was accompanied by a downward move in stock price. For investors, GINKGO BIOWORKS is not a compelling investment at the moment due to its weak financial performance.
It is important to consider the company’s outlook and potential for future growth before investing. Diversification of investments and careful analysis of financial statements should be considered when investing in GINKGO BIOWORKS at this time.
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