Ginkgo Bioworks Holdings, Inc. (DNA)
NYSE:DNA
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Ginkgo Bioworks Holdings
(NYSE:DNA)
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Rating:47Neutral
Price Target:
$6.00
▼(-32.28% Downside)
Action:ReiteratedDate:03/02/26
The score is held down primarily by weak financial performance (shrinking revenue, large losses, and ongoing cash burn) and a bearish technical setup (price well below key moving averages with negative MACD). The latest earnings call adds support via improved cost discipline, cash-burn guidance, and notable autonomous-lab traction, but uncertainty around near-term revenue visibility and continued losses keeps the overall score below average.
Positive Factors
High Gross Margin
Sustained ~81% gross margins indicate strong unit economics for Ginkgo’s platform work and data services. High margin on outputs means each incremental paid program or datapoint contributes disproportionately to covering fixed lab and automation costs, supporting scalable profitability as utilization and partner adoption improve.
Negative Factors
Material Revenue Decline
A sharp, multi-year revenue contraction signals structural demand and scaling challenges across Cell Engineering and solutions. Declining top-line reduces ability to absorb fixed costs, limits incremental operating leverage from high gross margins, and increases pressure on converting research programs into sustained, repeatable commercial revenue streams.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margin
Sustained ~81% gross margins indicate strong unit economics for Ginkgo’s platform work and data services. High margin on outputs means each incremental paid program or datapoint contributes disproportionately to covering fixed lab and automation costs, supporting scalable profitability as utilization and partner adoption improve.
Read all positive factors
Ginkgo Bioworks Holdings (DNA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$409.87M
Dividend YieldN/A
Average Volume (3M)1.16M
Price to Earnings (P/E)―
Beta (1Y)2.78
Revenue Growth-17.13%
EPS Growth51.74%
CountryUS
Employees834
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.41
Shares Outstanding49,941,880
10 Day Avg. Volume995,191
30 Day Avg. Volume1,157,319
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.91
Price to Sales (P/S)2.71
P/FCF Ratio-2.58
Enterprise Value/Market Cap1.78
Enterprise Value/Revenue4.28
Enterprise Value/Gross Profit5.25
Enterprise Value/Ebitda-3.37
Forecast
1Y Price Target
$8.50Price Target Upside-4.06% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)-4.43
Revenue Forecast (FY)$159.47M
Ginkgo Bioworks Holdings Business Overview & Revenue Model
Company Description
Ginkgo Bioworks Holdings, Inc., together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals ...
How the Company Makes Money
Ginkgo primarily makes money through (1) platform services provided to partners and (2) downstream participation in the success of products that use Ginkgo-developed cell programs, supplemented by revenue from its biosecurity activities.
1) Platf...
Ginkgo Bioworks Holdings Key Performance Indicators (KPIs)
Any
Total Active Programs
Counts the number of ongoing projects or initiatives, indicating the company's innovation capacity and potential for future revenue streams.
Counts the number of ongoing projects or initiatives, indicating the company's innovation capacity and potential for future revenue streams.
Data provided by:
The Fly
The FlyGinkgo Bioworks Holdings Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call presented several strong strategic and operational positives: validated autonomous lab technology (OpenAI result, PNNL $47M deal), meaningful facility scale-up (Nebula), and substantial cost and cash-burn improvements (55% FY reduction) with disciplined 2026 cash-burn guidance. These positives are balanced by ongoing revenue pressures in Cell Engineering, continued GAAP losses and negative adjusted EBITDA, excess lease costs (~$54M in 2025), the planned divestiture of the Biosecurity revenue stream, and some near-term execution and adoption risks as the company scales RAC production and commercializes cloud/CapEx offerings. Overall, the company is shifting to a focused, investment-led growth strategy with improved financial discipline but still faces material near-term revenue and profitability headwinds.Positive Updates
Breakthrough Autonomous Lab Validation (OpenAI Collaboration)
Collaborated with OpenAI to connect GPT-5 as an "AI scientist" to Ginkgo's autonomous lab; achieved a 40% improvement vs state-of-the-art on a cell-free protein synthesis challenge over 6 experimental rounds. Demonstrates real-world AI-in-the-loop capability and strong differentiation for autonomous lab offering.
Negative Updates
Cell Engineering Revenue Declines and Program Rationalization
Cell Engineering revenue was $26M in Q4 2025, down 26% year-over-year. Full-year Cell Engineering revenue was $133M (2025) vs $174M (2024); excluding noncash deferred revenue effects, revenue was $125M (2025) vs $129M (2024). Supported revenue-generating programs fell to 109 in Q4, a 4% decrease YoY, driven by ongoing program rationalization.
Read all updates
Q4-2025 Updates
Positive
Negative
Breakthrough Autonomous Lab Validation (OpenAI Collaboration)
Collaborated with OpenAI to connect GPT-5 as an "AI scientist" to Ginkgo's autonomous lab; achieved a 40% improvement vs state-of-the-art on a cell-free protein synthesis challenge over 6 experimental rounds. Demonstrates real-world AI-in-the-loop capability and strong differentiation for autonomous lab offering.
Read all positive updates
Company Guidance
Management said they will not give 2026 revenue guidance and will instead guide on cash burn, targeting $125–$150 million for 2026 (versus $171M cash burn in FY2025, a 55% reduction from $383M in FY2024), with Q4‑2025 cash burn of $47M (down 15% YoY) and roughly $430M cash on hand. Profitability metrics improved: total adjusted EBITDA was negative $36M in Q4 and negative $167M for FY2025 (vs. -$57M Q4 and -$293M FY2024); carrying cost of excess lease space was $54M for 2025 ($15M in Q4). Operational metrics include Cell Engineering revenue of $26M in Q4 (‑26% YoY) and $133M for 2025 ($125M excluding noncash items vs $129M in 2024), 109 revenue‑generating programs in Q4 (‑4% YoY), R&D expense down 44% in Q4 to $28M and 42% for the year to $159M (including a Google Cloud shortfall settlement), G&A down 40% in Q4 to $12M and 51% for the year to $56M, and segment operating losses narrowed to $17M in Q4 and $96M for FY2025; Biosecurity revenue was $7M in Q4 and $37M for the year. They reiterated the planned Biosecurity divestiture, noted a $47M PNNL booking, and said they will expand Boston RAC capacity from ~50 to 100 units by H1 while focusing investment on autonomous labs.Ginkgo Bioworks Holdings Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
42
Neutral
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 170.16M | 227.04M | 251.46M | 477.71M | 313.84M |
| Gross Profit | 138.63M | 188.49M | 197.45M | 273.49M | 184.15M |
| EBITDA | -254.61M | -484.39M | -821.29M | -2.06B | -1.81B |
| Net Income | -312.76M | -547.03M | -892.87M | -2.10B | -1.83B |
Balance Sheet | |||||
| Total Assets | 1.12B | 1.38B | 1.67B | 2.54B | 2.07B |
| Cash, Cash Equivalents and Short-Term Investments | 422.62M | 561.57M | 944.07M | 1.32B | 1.55B |
| Total Debt | 417.08M | 467.73M | 239.31M | 442.59M | 23.03M |
| Total Liabilities | 611.11M | 661.39M | 568.19M | 803.04M | 503.61M |
| Stockholders Equity | 508.59M | 716.06M | 1.10B | 1.74B | 1.51B |
Cash Flow | |||||
| Free Cash Flow | -178.72M | -382.13M | -336.30M | -304.47M | -310.34M |
| Operating Cash Flow | -171.06M | -319.58M | -295.50M | -252.20M | -253.82M |
| Investing Cash Flow | -240.29M | -62.24M | -80.69M | -67.39M | -73.26M |
| Financing Cash Flow | 17.77M | -1.74M | -3.22M | 95.34M | 1.53B |
Ginkgo Bioworks Holdings Technical Analysis
Positive
8.86
Price Trends
7.59
Positive
8.30
Negative
10.22
Negative
Market Momentum
-0.13
Negative
58.05
Neutral
67.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DNA, the sentiment is Positive. The current price of 8.86 is above the 20-day moving average (MA) of 6.70, above the 50-day MA of 7.59, and below the 200-day MA of 10.22, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 58.05 is Neutral, neither overbought nor oversold. The STOCH value of 67.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DNA.
Ginkgo Bioworks Holdings Risk Analysis
Ginkgo Bioworks Holdings disclosed 69 risk factors in its most recent earnings report. Ginkgo Bioworks Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ginkgo Bioworks Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $369.17M | 28.97 | 26.06% | ― | 36.04% | 1240.00% | |
56 Neutral | $466.71M | -4.14 | -59.68% | ― | -33.09% | 3.38% | |
55 Neutral | $911.86M | -3.80 | -50.23% | 14.68% | ― | 89.16% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $409.87M | -1.47 | -53.72% | ― | -17.13% | 51.74% | |
47 Neutral | $578.02M | -1.92 | -90.52% | ― | -34.92% | -43.26% | |
45 Neutral | $375.30M | -35.28 | -0.04% | ― | ― | -73.48% |
* Healthcare Sector Average
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Ginkgo Bioworks Holdings Corporate Events
Business Operations and StrategyM&A Transactions
Ginkgo Bioworks Divests Biosecurity Unit, Retains Minority Stake
Neutral
Feb 27, 2026
On February 26, 2026, Ginkgo Bioworks, Inc., a wholly owned subsidiary of Ginkgo Bioworks Holdings, Inc., agreed to transfer all equity interests of Ginkgo Biosecurity, LLC to Tower Biosecurity, Inc., effectively divesting substantially all of the...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.