Gingko Bioworks (NYSE: DNA) has announced preliminary performance updates for the year ending December 31, 2021. Based on its unaudited interim estimates, Ginkgo intends to meet or surpass its major 2021 full-year expectations for the beginning of new cell projects and income from its biosecurity and cell programming solutions. The findings and broader business analysis will be presented at the 40th Annual J.P. Morgan Healthcare Conference.
Gingko had over $1.6 billion from public debt
CEO of Gingko Jason Kelly said, “In our Q3 earnings call Ginkgo updated our 2021 outlook on the number of new cell programs, Foundry revenue, and Biosecurity revenue — I’m happy to report that based on preliminary unaudited estimates for the full year, we expect to meet or beat all of those, with Biosecurity revenue exceeding our outlook by over 50%. Scale is fundamental to our strategy and competitive advantage, and with over $1.6 billion in gross proceeds from our public debut, we believe we are well-positioned to continue to play offense in the coming years.”
Kelly added, “The past year was transformational for Ginkgo, and I am grateful for the dedication of our team and the commitment of our partners in contributing to our success in 2021. I’m excited to work with our team to continue to deliver on our mission and drive rapid growth in the year ahead.”
Foundry revenue to exceed $100 million
The company met the goal of adding around 30 new programs in 2021, leading to more than 100 cumulative cell programs launched at the company. As a result, interim unaudited Foundry revenue for the full year 2021 is likely to exceed the previously stated forecast of $100 million, including downstream value sharing and services revenue. On the other hand, Preliminary unaudited Biosecurity revenue for the full year 2021 is likely to exceed the previously reported estimate of $110 million by more than 50%.
Ginkgo’s balance sheet remains strong. Its capital management preferences for 2022 include investment opportunities in platform infrastructure and research and development, organizational buildout to assist scaling collaborations, and opportunistic external investment like licensing and M&A prospects.
