Ginkgo Bioworks Holdings Inc (NYSE:DNA) shares are trading lower in Monday's after-hours session after the company reported financial results.
Ginkgo Bioworks said first-quarter revenue increased 282% year-over-year to $168 million, which beat the $105.68-million estimate, according to data from Benzinga Pro. The company said it added 11 new cell programs in the first quarter, representing 175% growth year-over-year.
Ginkgo Bioworks highlighted its recently announced plans to expand platform capabilities in agricultural biologicals through a series of M&A transactions and flagship collaborations with Bayer. The company said it ended the quarter with $1.5 billion in cash.
Ginkgo Bioworks raised its full-year revenue guidance from a range of $325 million to $340 million to a range of $375 million to $390 million. The company said it expects to add 60 new cell programs to its Foundry platform in 2022.
DNA 52-Week Range: $2.09 - $15.86
The stock was down 3.69% in after-hours at $2.37 at press time.
Photo: Vic_B from Pixabay.
