Ginkgo Bioworks Holdings Inc
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Ginkgo Bioworks Holdings Inc AI Insights
Informational only. Not investment advice.Snapshot
- Burning 187M FCF TTM with only 111M cash remaining - under 7 months runway without capital raise[Free Cash Flow TTM]
- R&D of 270M TTM is 150% of revenue (181M) - investing heavily but no path to profitability visible[Research and Development TTM]
- 5Y revenue CAGR of 23.9% vs industry median 9% shows platform traction despite losses[Total Revenue 5Y Growth]
Watch Triggers
- Cash and Equivalents: Falls below 75M — Would signal imminent capital raise at likely distressed terms
- Total Revenue TTM: Exceeds 250M with stable gross margin — Would indicate platform scaling toward operating leverage inflection
- Operating Expense TTM: Declines below 350M — Cost discipline would extend runway and signal path to profitability
Bull Case
73% gross margin TTM (vs 51% industry median) proves platform model works - R&D leverage could flip to profitability if revenue doubles without proportional cost increase
391M working capital buffer and 545M PPE provide asset base for potential restructuring or strategic sale if standalone path fails
Bear Case
Operating margin of -185% TTM with 333M annual loss requires continuous dilution - equity holders face perpetual value destruction until profitability
Revenue of 181M after years of investment is subscale - 423M debt at 0.76 D/E constrains options while burning 166M operating cash TTM
Bull vs Bear Balance
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Forward Thesis
Dilutive capital raise likely within 12 months given cash burn trajectory
- 111M cash vs 187M annual FCF burn
- 10M equity issuance TTM insufficient
- 423M debt limits borrowing capacity
Gross margin of 73% TTM suggests platform economics work if scale achieved
- Cost of revenue only 49M on 181M revenue
- Operating leverage potential from fixed R&D
- Industry median gross margin 51%
Valuation Context
Caveats
DNA Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$481.44M | — | ||
$748.28M | — | ||
0.00 | — | ||
$151.4M | -36.2% | — | |
$-5.35 | — | ||
-197% | -31.6% | — | |
-201% | -2.2% | — | |
$-168.2M | — | ||
-55.8% | +1.9% | — | |
Beta 5Y (Monthly) | unknown | — |
DNA Dividend History
DNA Stock Splits
DNA SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/07/26 | 03/31/26 | 10-Q | |
02/26/26 | 12/31/25 | 10-K | |
11/06/25 | 09/30/25 | 10-Q | |
08/07/25 | 06/30/25 | 10-Q | |
05/06/25 | 03/31/25 | 10-Q | |
02/25/25 | 12/31/24 | 10-K | |
11/12/24 | 09/30/24 | 10-Q | |
08/08/24 | 06/30/24 | 10-Q | |
05/09/24 | 03/31/24 | 10-Q | |
02/29/24 | 12/31/23 | 10-K | |
11/08/23 | 09/30/23 | 10-Q | |
08/09/23 | 06/30/23 | 10-Q | |
05/10/23 | 03/31/23 | 10-Q | |
03/13/23 | 12/31/22 | 10-K | |
11/14/22 | 09/30/22 | 10-Q | |
08/15/22 | 06/30/22 | 10-Q | |
05/16/22 | 03/31/22 | 10-Q | |
03/29/22 | 12/31/21 | 10-K | |
11/15/21 | 09/30/21 | 10-Q | |
08/15/22 | 06/30/21 | 10-Q | |
05/16/22 | 03/31/21 | 10-Q | |
03/13/23 | 12/31/20 | 10-K | |
11/15/21 | 09/30/20 | 10-Q |