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Ginkgo Bioworks Holdings
(NYSE:DNA)
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Rating:55Neutral
Price Target:
$10.50
▲(18.51% Upside)
Action:Reiterated
Date:07/02/26
The score is held down primarily by deteriorating financial performance (sharp revenue contraction, large ongoing losses, and significant cash burn with rising leverage). Offsetting this, technicals are currently favorable with price strength above major moving averages and positive momentum, and the latest earnings call shows credible cost reduction and reaffirmed burn guidance—though revenue weakness and execution risk remain key near-term constraints.
Positive Factors
High gross margins (~81%)
Sustained ~81% gross margins indicate the core biofoundry/platform has attractive unit economics: cost of goods is low relative to service pricing. That margin cushion supports long-term operating leverage as services, cloud lab and value-share deals scale, improving path to profitability if utilization rises.
Negative Factors
Sharp revenue decline
A steep top-line contraction undermines scalability: declining revenue limits ability to absorb fixed operating costs and realize margin leverage from high gross margins. If revenue growth does not reaccelerate, cost cuts alone may be insufficient to reach sustainable profitability and the commercialization timeline extends.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins (~81%)
Sustained ~81% gross margins indicate the core biofoundry/platform has attractive unit economics: cost of goods is low relative to service pricing. That margin cushion supports long-term operating leverage as services, cloud lab and value-share deals scale, improving path to profitability if utilization rises.
Read all positive factors
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 (DNA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$679.37M
Dividend YieldN/A
Average Volume (3M)1.29M
Price to Earnings (P/E)―
Beta (1Y)2.91
Revenue Growth-40.48%
EPS Growth39.96%
CountryUS
Employees834
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-5.37
Shares Outstanding53,361,140
10 Day Avg. Volume1,024,387
30 Day Avg. Volume1,288,409
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 Cap1.21
Enterprise Value/Revenue5.84
Enterprise Value/Gross Profit7.79
Enterprise Value/Ebitda-3.91
Forecast
1Y Price Target
$12.00Price Target Upside35.44% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)-4.33
Revenue Forecast (FY)$123.10M
Ginkgo Bioworks Holdings Business Overview & Revenue Model
Company Description
Ginkgo Bioworks Holdings, Inc., alongside its subsidiary entities, provides an advanced technological platform focused on the engineering of cells. This proprietary system is utilized to manipulate cellular functions, facilitating the biological c...
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 Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Neutral
The call presents a balanced picture: meaningful operational and strategic progress in autonomous labs (Nebula), AI-driven experiments, partnerships and a strong cash position, alongside significant near-term financial challenges including a sharp revenue decline, ongoing losses, negative adjusted EBITDA and cash costs from excess leases and one-time payments. Execution and commercialization of Nebula, cloud lab and channel partnerships will determine whether the recent technical and commercial wins translate into durable revenue growth.Positive Updates
Strong Cash Position and No Debt
Cash balance of $373 million with no bank debt as of Q1 2026, providing runway to invest in autonomous labs and related initiatives.
Negative Updates
Significant Revenue Decline
Revenue in Q1 2026 was $19M, down 49% year-over-year; excluding $7.5M of noncash revenue in Q1 2025 (BiomEdit termination), revenue declined 37% year-over-year.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Cash Position and No Debt
Cash balance of $373 million with no bank debt as of Q1 2026, providing runway to invest in autonomous labs and related initiatives.
Read all positive updates
Company Guidance
Ginkgo reaffirmed full‑year 2026 cash‑burn guidance of $125–$150 million and said cash burn best reflects continuing operations; the company entered Q1 with $373 million in cash and no bank debt. Q1 results (continuing ops) included revenue of $19 million (down 49% YoY, or down 37% ex‑$7.5M noncash BiomEdit revenue), R&D expense of $30 million (‑38% YoY from $49M), G&A of $13 million (‑35% YoY from $20M), net loss from continuing operations of $76 million (vs $83M), adjusted EBITDA of ‑$42 million (vs ‑$44M) which includes $16 million of excess‑lease carrying costs, and cash burn of $48 million (down 17% from $58M), a figure that included a $14 million Google Cloud payment tied to resetting a commitment that reduced future minimums by >$100 million and extended the term from 3 to 6 years; the biosecurity business closed as a divestiture on April 3 (reported as discontinued operations) and prior periods were recast with pro forma continuing‑operations info filed April 7.Ginkgo Bioworks Holdings Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
46
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 141.31M | 170.16M | 227.04M | 251.46M | 477.71M | 313.84M |
| Gross Profit | 105.94M | 138.63M | 188.49M | 197.45M | 273.49M | 184.15M |
| EBITDA | -210.87M | -254.61M | -484.39M | -821.29M | -2.06B | -1.81B |
| Net Income | -304.39M | -312.76M | -547.03M | -892.87M | -2.10B | -1.83B |
Balance Sheet | ||||||
| Total Assets | 1.03B | 1.12B | 1.38B | 1.67B | 2.54B | 2.07B |
| Cash, Cash Equivalents and Short-Term Investments | 373.46M | 422.62M | 561.57M | 944.07M | 1.32B | 1.55B |
| Total Debt | 410.70M | 439.88M | 467.73M | 239.31M | 442.59M | 23.03M |
| Total Liabilities | 589.92M | 611.11M | 661.39M | 568.19M | 803.04M | 503.61M |
| Stockholders Equity | 443.15M | 508.59M | 716.06M | 1.10B | 1.74B | 1.51B |
Cash Flow | ||||||
| Free Cash Flow | -183.27M | -178.72M | -382.13M | -336.30M | -304.47M | -310.34M |
| Operating Cash Flow | -165.97M | -171.06M | -319.58M | -295.50M | -252.20M | -253.82M |
| Investing Cash Flow | -18.47M | -240.29M | -62.24M | -80.69M | -67.39M | -73.26M |
| Financing Cash Flow | 17.96M | 17.77M | -1.74M | -3.22M | 95.34M | 1.53B |
Ginkgo Bioworks Holdings Technical Analysis
Positive
8.86
Price Trends
8.75
Positive
8.12
Positive
9.33
Positive
Market Momentum
0.49
Negative
65.47
Neutral
68.54
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 below the 20-day moving average (MA) of 8.99, above the 50-day MA of 8.75, and below the 200-day MA of 9.33, indicating a bullish trend. The MACD of 0.49 indicates Negative momentum. The RSI at 65.47 is Neutral, neither overbought nor oversold. The STOCH value of 68.54 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $273.18M | 14.64 | 25.38% | ― | 20.84% | 28.10% | |
62 Neutral | $1.97B | -14.00 | -63.58% | ― | -61.87% | 10.39% | |
56 Neutral | $1.31B | -7.37 | -51.34% | 14.68% | ― | 94.97% | |
55 Neutral | $679.37M | -1.94 | -57.31% | ― | -40.48% | 39.96% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $655.10M | -47.24 | -12.84% | ― | ― | 40.38% | |
47 Neutral | $327.84M | -0.83 | -85.71% | ― | -52.31% | 49.06% |
* Healthcare Sector Average
DNA
Ginkgo Bioworks Holdings
10.40
-0.95
-8.37%
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3.43
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LYEL
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14.05
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53.55%
JBIO
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21.51
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ABSI
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11.62
9.04
350.39%
Ginkgo Bioworks Holdings Corporate Events
Executive/Board ChangesShareholder Meetings
Ginkgo Bioworks Shareholders Back Board, Governance Structure
Positive
Jun 12, 2026
On June 11, 2026, Ginkgo Bioworks Holdings, Inc. held its 2026 annual meeting of shareholders, with approximately 77.15% of the combined Class A and Class B shares and 93.77% of Class B shares represented. Shareholders confirmed the company’...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsRegulatory Filings and Compliance
Ginkgo Bioworks Divests Biosecurity Unit, Refocuses Core Operations
Neutral
Apr 7, 2026
On April 3, 2026, Ginkgo Bioworks, Inc., a subsidiary of Ginkgo Bioworks Holdings, completed the sale of all equity interests in Ginkgo Biosecurity, LLC to Tower Biosecurity, Inc., also known as Perimeter Systems, in exchange for a roughly 20% equ...
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.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower 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.
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.