Recently, Ginkgo Bioworks, a pioneer in synthetic biology, released its fourth quarter and annual performance reports as of December 31, 2023.

The report shows that in 2023, Ginkgo achieved total revenue of US$251 million, with a cash balance of nearly US$950 million at the end of the year. Ginkgo said this gives the company a meaningful multi-year runway to become profitable.

In 2023, Ginkgo's full-year operating loss was US$864 million (including US$235 million in stock compensation expenses), down from US$2.2 billion in the previous year (including US$1.9 billion in stock compensation expenses).

Lower biosecurity revenue drives down total revenue

Ginkgo's total revenue for 2023 will be US$251 million, a 47% decrease from last year's US$478 million. The report explains that this is mainly due to the expected decline in K-12 testing in the biosecurity department. Full-year biosecurity revenue was US$108 million, down from US$334 million in the previous year, a decrease of 68%. The full-year biosecurity gross profit margin in 2023 was 50%.

Cell engineering services revenue rises

In 2023, Cell Engineering services revenue will be $139 million, an increase of 31% from 2022. In 2023, Ginkgp added 78 new cell projects, an increase of 32% over 2022, and successfully expanded its territory in the biopharmaceutical field.

During the year, Ginkgo cooperated with large enterprises such as Boehringer Ingelheim, Merck, Novo Nordisk and Pfizer, adding multiple new cross-model projects.

"We are particularly pleased with the growth in the biopharmaceutical space, which represents our largest untapped market," said Jason Kelly, co-founder and CEO of Ginkgo.

Source: --Ginkgo