Ginkgo Bioworks reports Q1 EPS ($1.68) vs ($3.32) last year

Reports Q1 revenue $48M, consensus $38.7M. “We’re starting the year on a solid base thanks to the significant restructuring efforts of the past year,” said Jason Kelly, co-founder and CEO of Ginkgo Bioworks (DNA). “Our Solutions business has become a trusted R&D service provider to the US Government and biopharma industry, meanwhile our Tools businesses have traction with existing offerings and are positioned to meet emergent opportunities in areas like AI, which are driving demand for large scale biological datasets. Through all of this, we are maintaining our commitment to achieving our cost reduction targets.”