Ginkgo Bioworks Holdings (DNA)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Yellow because the decisive operating question is open, not because the share price has fallen: continuing operations shrank 49 percent to $19.5 million in the first quarter of 2026 while operating cash burn rose to $46.4 million and adjusted EBITDA improved by only about $2 million — a turnaround that is announced rather than demonstrated. It is not red because the substance holds: $443.2 million of equity, $373.5 million of liquidity, no financial debt, no going-concern qualification, and a runway of roughly two and a half years on the company's own guidance of $125 million to $150 million of cash burn for 2026. The light turns red if quarterly revenue keeps falling without cash burn falling with it, or if the $662.8 million lease burden stays unsublet and pushes liquidity below roughly four quarters of runway. The decision is yours.
symbol.quality_note
Ginkgo Bioworks set out to make biology as programmable as software. Five years after going public through a blank-check merger, the filings to the U.S. securities regulator, the SEC, add up to something sober: the second leg of the business, Biosecurity, was handed over in full on April 3, 2026 — in exchange for roughly 20 percent of the buyer, not one dollar in cash. What remains is cell engineering, whose revenue fell to $19.5 million in the first quarter of 2026 from $38.2 million a year earlier. Against that sit $373.5 million of liquidity — and $662.8 million of contracted lease payments with an average of 11.3 years left to run. Not investment advice — just the question of what a laboratory is worth when its lease runs longer than its order book.
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Stock Watch
This analysis is as of July 29, 2026. Stock Watch will tell you what's changed at DNA since then.
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Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 8.10 $ — 25% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
Sells AIGinkgo verkauft KI-nahe Leistungen als eigene Umsatzquelle: Das automatisierte Labor speist generative KI- und Lernverfahren, die Datenpakete der Reihe „Datapoints“ werden ausdrücklich zum Training und zur Validierung von KI-Modellen der Kunden verkauft, und der Geschäftsbericht führt Datapoints-Erlöse als Bestandteil des Zellprogrammierungs-Umsatzes.
View the full file — quotes, sources, reviewed filings
„Our Autonomous Lab is a flexible wet lab built from our Reconfigurable Automation Cart (“RAC”) systems capable of large scale data generation; it powers generative AI and machine learning (“ML”) tools that enable more successful biological R&D. We now offer services providing such data generation, AI and automation tools directly to Ginkgo customers."
Unser Autonomous Lab ist ein flexibles Nasslabor, gebaut aus unseren Reconfigurable-Automation-Cart-Systemen („RAC“), das Daten in großem Maßstab erzeugen kann; es speist generative KI- und Werkzeuge des maschinellen Lernens („ML“), die biologische Forschung und Entwicklung erfolgreicher machen. Wir bieten diese Datenerzeugung sowie KI- und Automatisierungswerkzeuge jetzt als Dienstleistungen direkt für Ginkgo-Kunden an.
„Cell Engineering revenue is generated primarily through R&D service fees for our solutions and Datapoints services; and design, build, installation and ongoing support fees for our automation solutions (RAC) systems."
Der Umsatz der Zellprogrammierung entsteht überwiegend aus Forschungs- und Entwicklungshonoraren für unsere Lösungen und die Datapoints-Dienste sowie aus Honoraren für Entwurf, Bau, Installation und laufende Betreuung unserer Automatisierungslösungen (RAC-Systeme).
„As Ginkgo drives scalability through our models, we have heavily invested in the use and creation of AI foundational and fine-tuned models, which we believe can provide significant benefits to our customers."
Da Ginkgo die Skalierbarkeit über seine Modelle vorantreibt, haben wir stark in die Nutzung und Erstellung von KI-Basismodellen und fein abgestimmten Modellen investiert, die aus unserer Sicht erhebliche Vorteile für unsere Kunden bringen können.
„Our Autonomous Lab is a flexible wet lab built from our Reconfigurable Automation Cart (“RAC”) systems capable of large-scale data generation; it powers generative AI and machine learning (“ML”) tools that enable more successful biological R&D."
Unser Autonomous Lab ist ein flexibles Nasslabor, gebaut aus unseren Reconfigurable-Automation-Cart-Systemen („RAC“), das Daten in großem Maßstab erzeugen kann; es speist generative KI- und Werkzeuge des maschinellen Lernens („ML“), die biologische Forschung und Entwicklung erfolgreicher machen.
Filings Reviewed: 10-K 2026-02-26 · 10-K 2025-02-25 · 10-Q 2026-05-07 · 10-Q 2025-11-06 · 10-Q 2025-08-07 · 10-Q 2025-05-06
Rated on July 29, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 4.9% above the current price.
- Consensus
- Buy
- Analyst Ratings
- 6
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -3.42 | -3.42 – -3.42 | 106 | 6.5% | 1 |
| 12/31/2027 | -3.21 | -3.21 – -3.21 | 116 | 6.1% | 1 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- -0.70 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -2.02 | – | 44 | 26.20 | -245.20 | -42 | -56 |
| 2025: Q1 | -1.70 | – | 48 | 27.30 | -188.20 | -52 | -59 |
| 2025: Q2 | -1.13 | – | 50 | -11.70 | -121.60 | -40 | -40 |
| 2025: Q3 | -1.51 | – | 39 | -56.40 | -207.90 | -32 | -32 |
| 2025: Q4 | -1.51 | – | 33 | -23.80 | -241.80 | -48 | -63 |
| 2026: Q1 | -1.55 | – | 20 | -59.70 | -424.10 | -46 | -48 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2019 | 54 | -72 | -119 | -4.15 | -45 | 493 | 697 |
| 2020 | 77 | -137 | -127 | -3.97 | -136 | 461 | 675 |
| 2021 | 314 | -1,828 | -1,830 | -53.81 | -254 | 1,505 | 2,071 |
| 2022 | 478 | -2,209 | -2,105 | -50.12 | -252 | 1,736 | 2,539 |
| 2023 | 251 | -864 | -893 | -18.37 | -296 | 1,097 | 1,665 |
| 2024 | 227 | -560 | -547 | -10.54 | -320 | 716 | 1,377 |
| 2025 | 170 | -315 | -313 | -5.64 | -171 | 509 | 1,120 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
As of March 31, 2026 the books showed $373.5 million of cash and marketable securities and $443.2 million of equity with no financial debt whatsoever. Against management's own guidance of $125 million to $150 million of cash burn for 2026, that lasts roughly two and a half years — Ginkgo is not up against the wall.
Revenue from continuing operations fell to $19.5 million in the first quarter of 2026 from $38.2 million a year earlier (−49 percent; −37 percent adjusted for a non-cash item). Over the years, cell engineering is not growing either: $132.7 million in 2025 against $143.7 million in 2022.
Operating expenses fell from $1,115.9 million (2023) through $786.8 million (2024) to $485.4 million (2025), and headcount by "more than 50%" to 485 employees (December 31, 2025). The cash has not followed yet: operating cash burn rose to $46.4 million in the first quarter of 2026 from $42.7 million, and adjusted EBITDA improved by only about $2 million.
As of December 31, 2025, $662.8 million of undiscounted lease payments were outstanding, with a weighted average remaining term of 11.3 years and annual installments from $56.3 million (2026) to $60.3 million (2029). The excess space alone cost $15.8 million in the first quarter of 2026 — more than 80 percent of quarterly revenue and more than the $11.7 million a year earlier.
The Biosecurity divestiture of April 3, 2026 removes a segment that most recently lost $6.5 million a quarter — but the consideration was not cash, it was a roughly 20 percent stake in a privately held buyer. That stake can be neither valued daily nor turned into cash at short notice.
As of April 30, 2026, 65.3 million shares were outstanding across three classes against 15,800 million authorized; a $500 million shelf registration with a $100 million sales agreement ($18.1 million used through March 31, 2026) stands ready. Class B carries ten votes per share — directors and executive officers together held 44.2 percent of total voting power (proxy statement of April 29, 2026, holdings as of April 14, 2026).
Ginkgo Bioworks is a textbook case of how far a listing promise and an income statement can drift apart. The company has more than halved its costs in two years, sits debt-free on $373.5 million of liquidity and shed a loss maker with the Biosecurity divestiture of April 3, 2026. At the same time, revenue in the remaining business halved to $19.5 million in the first quarter of 2026, operating cash burn actually grew to $46.4 million, and above it all sit $662.8 million of lease payments with 11.3 years to run. On the company's own guidance the cash lasts roughly two and a half years — the order book has to grow before then. Not investment advice.
- Ginkgo Bioworks came onto the research list through the EDGAR filing stream: the current report 8-K of April 7, 2026 (Item 2.01) announcing completion of the Biosecurity divestiture. Our in-house stock scanner recalculates its lists daily, so the trigger for this analysis carries the date July 29, 2026.
- Time-series warning: the annual figures for 2022 through 2025 come from the annual reports and still include the Biosecurity business. From the quarterly report as of March 31, 2026 onward it is presented separately as a discontinued operation — so the 2026 quarterly figures and the recast prior-year quarters show cell engineering only. Annual and quarterly figures are therefore not directly comparable.
- All share and price figures are adjusted for the 1-for-40 reverse stock split of August 19, 2024; the earnout thresholds of $500 to $800 correspond to $12.50 to $20 in 2021 money. Market value here is derived from all three share classes (65.3 million shares as of April 30, 2026) and a documented placement price of about $9.50 per share; data services that count Class A only report a value roughly a fifth lower. Not to be confused: the warrant DNABW trades over the counter, the common stock DNA on the NYSE.
About the Company
Ginkgo Bioworks Holdings, Inc. entwickelt zusammen mit seinen Tochtergesellschaften eine Plattform für Cell Engineering in den USA.
| Employees | 485 |
|---|---|
| Headquarters | Boston, MA |
| Address | 27 Drydock Avenue, 02210 Boston, United States |
| Phone | 877 422 5362 |
| Website | ginkgo.bio |
| IPO Date | 19. Apr 2021 |
| ISIN | US37611X2099 |
| Stock Split | 1:40 on 08/20/2024 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Jason Kelly Ph.D. | Co-Founder, Co-COO, CEO & Director | 1981 |
| Reshma P. Shetty | Co-Founder, President & Director | 1981 |
| Steven P. Coen CPA | Chief Financial Officer | 1966 |
| Thomas Knight Jr. | Founder | – |
| Austin Che Ph.D. | Co-Founder & Head of Strategy | – |
| Bartholomew Canton Ph.D. | Co-Founder & CTO | – |
| Jennifer Wipf | Co-Chief Operating Officer | – |
| Karen Tepichin | General Counsel & Secretary | – |
| Daniel Marshall | Senior Manager of Communications & Ownership | – |
| Brian O'sullivan | Head of Commercial | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 17. Jul 2026 | Coen Steven P. | See remarks | Sell | 752 | 7.90 | 5,943 |
| 16. Jul 2026 | Coen Steven P. | See remarks | Other | 312 | – | – |
| 16. Jul 2026 | Coen Steven P. | See remarks | Other | 1,174 | – | – |
| 17. Apr 2026 | Steven P Coen | Insider | Sell | 324 | 7.95 | 2,576 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.