DNA - Ginkgo Bioworks Stock Falls On Disappointing Q1 Sales: 'This Trend Needs To Change' | Benzinga
Ginkgo Bioworks Holdings, Inc. (NASDAQ:DNA) reported its first-quarter financial results after the bell Thursday. Here's a look at the key figures from the report.
The Details:
Ginkgo Bioworks reported quarterly sales of $38 million which missed the analyst consensus estimate of $46.044 million by 17.47% and is a 52.91% decrease in sales year-over-year. The company said the decrease in sales was primarily driven by the expected ramp down of K-12 testing in Ginkgo’s Biosecurity segment.
Ginkgo said Cell Engineering revenue was $28 million for the quarter, a decrease of 18% driven ...