Ginkgo Bioworks backs FY22 revenue view $460M-$480M, consensus $470.79M

Ginkgo reiterated its expectations of 55-60 new Cell Programs added to the Foundry platform in 2022. Ginkgo continues to expect Total revenue of $460 – 480 million in 2022. Preliminary unaudited Foundry revenue is expected to be below the previously disclosed guidance of $150 – $170 million in 2022 due to a subset of targeted milestones remaining unearned in the fourth quarter, though Ginkgo remains confident in its ability to achieve these milestones. Preliminary unaudited Biosecurity revenue is expected to exceed the previously disclosed guidance of $310 million in 2022. Ginkgo launched Ginkgo Enzyme Services, which aims to solve challenges for R&D teams developing enzymes, from discovery of novel enzyme activity through optimization of enzyme function and large scale manufacturing. Ginkgo opened Bioworks7, which adds 6,600 square feet of Biosafety Level 2 lab space at Ginkgo’s headquarters in Boston’s Seaport District, expanding its mammalian foundry platform to provide significant runway to support new program additions in the pharma & biotech vertical. Ginkgo ended 2022 with approximately $1.3 billion of cash and cash equivalents, putting Ginkgo in a strong financial position to pursue its strategic objectives while driving towards profitability.