Ginkgo Bioworks Holdings Inc DNA shares are trading lower in Monday’s after-hours session after the company reported mixed financial results.
Ginkgo Bioworks said third-quarter revenue decreased 14% year-over-year to $66.4 million, which beat average analyst estimates of $60.36 million, according to Benzinga Pro. The company reported a quarterly net loss of 41 cents per share, which missed average analyst estimates for a loss of 30 cents per share.
“Successful M&A execution illustrates our ability to take advantage of opportunities catalyzed by the current market environment, while our strong standalone cash balance of over $1.3 billion at the end of the third quarter continues to afford us substantial flexibility,” said Jason Kelly, co-founder and CEO of Ginkgo.
Ginko said it expects to add between 55 and 60 new cell programs in 2022. The company expects full-year revenue to be between $460 million and $480 million.
Ginkgo Bioworks offers a horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets.
See Also: What’s Going On With Biogen Stock Today?
DNA Price Action: DNA has a 52-week high of $8.77 and a 52-week low of $2.09.
The stock was down 6.52% in after hours at $2.51 at time of publication, according to Benzinga Pro.
Photo: Chokniti Khongchum from Pixabay.
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