Yahoo Finance Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Q4 2023 Earnings Call Transcript
Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Q4 2023 Earnings Call Transcript February 29, 2024
Ginkgo Bioworks Holdings, Inc. reports earnings inline with expectations. Reported EPS is $-0.09 EPS, expectations were $-0.09. Ginkgo Bioworks Holdings, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Megan LeDuc: Good evening, I’m Megan LeDuc, Manager of Investor Relations at Ginkgo Bioworks. I’m joined by Jason Kelly, our Co-Founder and CEO; and Mark Dmytruk, our CFO. Thanks as always for joining us, and we’re looking forward to updating you on our progress. As a reminder, during the presentation today, we will be making forward-looking statements, which involve risks and uncertainties. Please refer to our filings with the Securities and Exchange Commission to learn more about these risks and uncertainties. Today, in addition to updating you on the quarter and full year, we’re going to dive deeper into Ginkgo’s evolution as a data generator and systems integrator within the biotech R&D ecosystem and biosecurity.
As usual, we’ll end with a Q&A session, and I’ll take questions from analysts, investors and the public. You can submit those questions to us in advance via Twitter at #Ginkgo’s – #GinkgoResults or email investors@ginkgobioworks.com. All right, over to you, Jason.
Jason Kelly: It’s been a busy and exciting week here at Ginkgo, and it’s a great week to remind everyone of our mission, which is to make biology easier to engineer. We don’t take this mission lightly, and achieving it requires not only our own infrastructure investments here at Ginkgo, but also truly to drive change across the culture of the industry, fostering collaboration over competition, especially among tool developers. And I’m going to spend a bunch of time today talking about that. I’m really excited about our progress. And as we’ll dig into the strategic sections, you’ll see how we’re building and integrating a set of capabilities we believe could really revolutionize how biotech R&D is done. Before we get to that, I want to say, if you want to imagine a little bit of what a world would look like when biology gets easier to engineer, it looks a little something like this.
So engineered biology becoming an everyday part of our lives, not just something we experience when we’re sick in a hospital or things like that. And this photo is a real photo of the Firefly branded petunias that one of our customers, Light Bio, just launched to the public. And we’re working with them to make these plants an order of magnitude brighter today to see them you have to be in a really in a dark room. But now you may not think that bioluminescent flowers are going to sort of change the world like a blockbuster drug. But you know, the reason I got into biotech was really because of movies like Jurassic Park. And if you look at some of the younger employees here at Ginkgo, they were inspired by things like Avatar. And this idea that we could start to really design biology and build more beautiful things in the world, I think is going to be an inspiration, especially for kids that want to get into biotechnology.
And I promise you, you fast forward 10 years, you’re going to see high school students designing their own flowers in their DNA programming classes. And I think this first product from Light Bio is the start of that. Okay, now the road to that consumer biotech world though, leads through this, this road. And Ginkgo continues to lead in B2B sales to large R&D groups at both big and small biotech companies across the three major industries of biotech: industrial, agriculture, and most importantly, for our conversation today, biopharma. And I want to really take a minute and focus on our progress in biopharma in 2023. So we added several new biopharma programs in 2023, including with Pfizer, Boehringer Ingelheim, Novo Nordisk, Merck, as well as successfully completing our first project with Biogen.
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