The latest update is out from Ginkgo Bioworks Holdings ( (DNA) ).
Ginkgo Bioworks reported a significant revenue increase of 61% in Q3 2024, primarily due to a $45 million non-cash deferred revenue release, despite a shift towards larger customers impacting cell engineering revenue. The company is advancing its strategic partnerships, including new deals with Novo Nordisk and Merck, and is focused on cost-cutting and site consolidation to achieve EBITDA breakeven by 2026. With the recent board changes, Ginkgo is poised to strengthen its position in the biosecurity market while enhancing its promising cell programming platform.
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