Ginkgo Bioworks Holdings Inc. (DNA) saw its stock plunge 12.63% in pre-market trading on Wednesday, February 26, 2025, following the release of its fourth quarter and full-year 2024 financial results.
The biotech company reported a wider net loss of $547 million in 2024, compared to $893 million in the previous year. Ginkgo incurred $24.2 million in restructuring charges during 2024, including employee termination costs and impairment of lease assets, as part of its plan to achieve cost reductions and reach profitability by 2026.
The key factor contributing to the stock's pre-market slump was the company's weak revenue guidance for 2025. Ginkgo expects total revenue of $160-$180 million, lower than analysts' expectations, with its Biosecurity segment facing potential headwinds due to government funding availability. The Biosecurity segment reported a 51% year-over-year decline in revenue to $53 million in 2024, impacted by a transition from K-12 testing to a more recurring business model.
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