Ginkgo Bioworks Holdings Inc (NYSE:DNA) shares are trading higher by 22.0% at $4.56 after the company reported better-than-expected fourth-quarter sales results and issued FY22 sales guidance above analyst estimates.
Ginkgo Bioworks reported quarterly sales of $148.00 million which beat the analyst consensus estimate of $94.81 million by 56%. This is a 363% increase over sales of $32.00 million in the same period last year.
Ginkgo Bioworks expects full-year 2022 revenue to be between $325 million and $340 million versus the $306 million estimate.
Among the recent business accomplishments highlighted by Ginkgo Bioworks for the fourth quarter were:
- Added 10 new Cell Programs to the Foundry platform in fourth-quarter 2021, for a total of 31 new programs in the full year, representing 72% growth over 2020.
- Significantly exceeded outlook for both Foundry and Biosecurity revenue with full year revenue reaching $314 million, representing growth of 309% over 2020.
- Continued to drive "Knight's Law" Foundry scaling as we were able to increase our deployment of new technologies, including multiplexed strain tests.
- Biosecurity offering, Concentric by Ginkgo, grew rapidly in Q4, reaching $201 million in revenue for the full year, and is seeing signs of longer-term opportunities.
Ginkgo Bioworks is building a platform to enable customers to program cells as easily to program computers. The company's platform is market agnostic and enables biotechnology applications across diverse markets, from food and agriculture to industrial chemicals to pharmaceuticals.
Ginkgo Bioworks has a 52-week high of 15.86 and a 52-week low of $2.62.
