Ginkgo Bioworks (DNA)
Market Price (5/14/2026): $8.52 | Market Cap: $507.5 MilSector: Health Care | Industry: Biotechnology
Ginkgo Bioworks (DNA)
Market Price (5/14/2026): $8.52Market Cap: $507.5 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, and Advanced Materials. Themes include Synthetic Biology, Show more. | Weak multi-year price returns2Y Excs Rtn is -119%, 3Y Excs Rtn is -164% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -292 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -206% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -38%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -25%, Rev Chg QQuarterly Revenue Change % is -49% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 57% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -118%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -119% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -64% Key risksDNA key risks include [1] its persistent unprofitability and high cash burn, Show more. |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, and Advanced Materials. Themes include Synthetic Biology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -119%, 3Y Excs Rtn is -164% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -292 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -206% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -38%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -25%, Rev Chg QQuarterly Revenue Change % is -49% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 57% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -118%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -119% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -64% |
| Key risksDNA key risks include [1] its persistent unprofitability and high cash burn, Show more. |
Qualitative Assessment
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Ginkgo Bioworks (DNA) stock has lost about 5% since 1/31/2026 because of the following key factors:
1. Significant Q1 2026 Financial Underperformance. Ginkgo Bioworks reported a substantial revenue miss and widened losses for the first quarter of 2026. The company's total revenue was $19.5 million, a 59.7% decrease year-over-year, falling significantly short of the consensus estimate of $41.9 million. Additionally, the diluted earnings per share (EPS) of -$1.39 missed the analyst estimate of -$1.09. This disappointing earnings report led to an immediate decline in the stock price, with shares falling 11.59% (or nearly 14%) following the announcement on May 7, 2026.
2. Reaffirmed High Cash Burn Guidance. Investors reacted negatively to Ginkgo Bioworks reaffirming its full-year 2026 total cash burn guidance in the range of $125 million to $150 million. Despite a reported decrease in cash used in operating activities in Q1 2026 (down 9.4% year-over-year to $46.7 million, including a $14 million payment to Google Cloud), the overall guidance suggested continued significant cash utilization, prompting concerns about the company "quickly burning through cash".
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1. Significant Q1 2026 Financial Underperformance. Ginkgo Bioworks reported a substantial revenue miss and widened losses for the first quarter of 2026. The company's total revenue was $19.5 million, a 59.7% decrease year-over-year, falling significantly short of the consensus estimate of $41.9 million. Additionally, the diluted earnings per share (EPS) of -$1.39 missed the analyst estimate of -$1.09. This disappointing earnings report led to an immediate decline in the stock price, with shares falling 11.59% (or nearly 14%) following the announcement on May 7, 2026.
2. Reaffirmed High Cash Burn Guidance. Investors reacted negatively to Ginkgo Bioworks reaffirming its full-year 2026 total cash burn guidance in the range of $125 million to $150 million. Despite a reported decrease in cash used in operating activities in Q1 2026 (down 9.4% year-over-year to $46.7 million, including a $14 million payment to Google Cloud), the overall guidance suggested continued significant cash utilization, prompting concerns about the company "quickly burning through cash".
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Stock Movement Drivers
Fundamental Drivers
The -4.2% change in DNA stock from 1/31/2026 to 5/13/2026 was primarily driven by a -17.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5132026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.97 | 8.59 | -4.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 171 | 141 | -17.1% |
| P/S Multiple | 2.9 | 3.6 | 23.7% |
| Shares Outstanding (Mil) | 56 | 60 | -6.6% |
| Cumulative Contribution | -4.2% |
Market Drivers
1/31/2026 to 5/13/2026| Return | Correlation | |
|---|---|---|
| DNA | -4.2% | |
| Market (SPY) | 7.6% | 47.7% |
| Sector (XLV) | -4.8% | 19.3% |
Fundamental Drivers
The -33.9% change in DNA stock from 10/31/2025 to 5/13/2026 was primarily driven by a -36.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 5132026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.99 | 8.59 | -33.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 221 | 141 | -36.0% |
| P/S Multiple | 3.2 | 3.6 | 12.1% |
| Shares Outstanding (Mil) | 55 | 60 | -7.9% |
| Cumulative Contribution | -33.9% |
Market Drivers
10/31/2025 to 5/13/2026| Return | Correlation | |
|---|---|---|
| DNA | -33.9% | |
| Market (SPY) | 9.5% | 45.8% |
| Sector (XLV) | 2.6% | 18.8% |
Fundamental Drivers
The 16.6% change in DNA stock from 4/30/2025 to 5/13/2026 was primarily driven by a 107.2% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5132026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.37 | 8.59 | 16.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 227 | 141 | -37.8% |
| P/S Multiple | 1.7 | 3.6 | 107.2% |
| Shares Outstanding (Mil) | 54 | 60 | -9.6% |
| Cumulative Contribution | 16.6% |
Market Drivers
4/30/2025 to 5/13/2026| Return | Correlation | |
|---|---|---|
| DNA | 16.6% | |
| Market (SPY) | 35.4% | 40.8% |
| Sector (XLV) | 6.3% | 27.0% |
Fundamental Drivers
The -82.4% change in DNA stock from 4/30/2023 to 5/13/2026 was primarily driven by a 2393.2% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302023 | 5132026 | Change |
|---|---|---|---|
| Stock Price ($) | 48.80 | 8.59 | -82.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 141 | 0.0% |
| P/S Multiple | � | 3.6 | 0.0% |
| Shares Outstanding (Mil) | 1,485 | 60 | 2393.2% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2023 to 5/13/2026| Return | Correlation | |
|---|---|---|
| DNA | -82.4% | |
| Market (SPY) | 85.5% | 38.9% |
| Sector (XLV) | 15.5% | 24.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DNA Return | -18% | -80% | 0% | -85% | -15% | 0% | -98% |
| Peers Return | 1% | -62% | -2% | -12% | -29% | 42% | -66% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| DNA Win Rate | 56% | 25% | 42% | 42% | 42% | 40% | |
| Peers Win Rate | 36% | 28% | 47% | 43% | 42% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| DNA Max Drawdown | -18% | -80% | -33% | -92% | -43% | -34% | |
| Peers Max Drawdown | -39% | -72% | -51% | -40% | -48% | -18% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TWST, CDXS, ABCL, RXRX, NTLA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/13/2026 (YTD)
How Low Can It Go
| Event | DNA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -56.1% | -18.8% |
| % Gain to Breakeven | 127.6% | 23.1% |
| Time to Breakeven | 109 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -31.9% | -7.8% |
| % Gain to Breakeven | 46.8% | 8.5% |
| Time to Breakeven | 160 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -33.7% | -6.7% |
| % Gain to Breakeven | 50.9% | 7.1% |
| Time to Breakeven | 28 days | 31 days |
In The Past
Ginkgo Bioworks's stock fell -56.1% during the 2025 US Tariff Shock. Such a loss loss requires a 127.6% gain to breakeven.
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| Event | DNA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -56.1% | -18.8% |
| % Gain to Breakeven | 127.6% | 23.1% |
| Time to Breakeven | 109 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -31.9% | -7.8% |
| % Gain to Breakeven | 46.8% | 8.5% |
| Time to Breakeven | 160 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -33.7% | -6.7% |
| % Gain to Breakeven | 50.9% | 7.1% |
| Time to Breakeven | 28 days | 31 days |
In The Past
Ginkgo Bioworks's stock fell -56.1% during the 2025 US Tariff Shock. Such a loss loss requires a 127.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Ginkgo Bioworks (DNA)
Ginkgo Bioworks Holdings, Inc., together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals. Ginkgo Bioworks has a partnership with Selecta Biosciences, Inc. to develop ImmTOR technology platform. Ginkgo Bioworks Holdings, Inc. was founded in 2008 and is headquartered in Boston, Massachusetts.
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Here are 1-3 brief analogies for Ginkgo Bioworks:
- AWS for biology: Ginkgo provides a foundational platform for programming cells, much like Amazon Web Services offers scalable infrastructure for countless digital applications.
- The Microsoft of cellular engineering: Ginkgo develops core tools and "code" for programming cells, akin to how Microsoft provides foundational operating systems and software development tools for computing.
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- Cell Programming Platform: A proprietary technology platform for engineering cells to perform specific biological functions.
- Biological Production Enablement Services: Services that leverage their cell programming platform to enable partners to biologically produce products such as novel therapeutics, food ingredients, and chemicals.
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```htmlGinkgo Bioworks (DNA) primarily sells its cell programming platform and services to other companies, operating on a business-to-business (B2B) model. It partners with companies across various industries, including pharmaceuticals, agriculture, food, and specialty chemicals, to develop custom biological solutions.
Major customers and partners of Ginkgo Bioworks include:
- Selecta Biosciences, Inc. (Symbol: SELB)
- Moderna, Inc. (Symbol: MRNA)
- Novo Nordisk A/S (Symbol: NVO)
- Corteva Agriscience (Symbol: CTVA)
- Bayer AG (Symbol: BAYRY)
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Jason Kelly, Chief Executive OfficerDr. Jason Kelly is the co-founder and Chief Executive Officer of Ginkgo Bioworks, which he established in 2008. He holds B.S. degrees in Chemical Engineering and Biology, and a Ph.D. in Biological Engineering, all from MIT. Dr. Kelly previously served as the Chair of the U.S. National Security Commission on Emerging Biotechnology. He also co-founded Joyn Bio, a joint venture with Bayer focused on microbiome engineering for agriculture.
Steven Coen, Chief Financial Officer
Steven Coen became the Chief Financial Officer of Ginkgo Bioworks on May 30, 2025, after serving as the company's Chief Accounting Officer since May 1, 2023. He brings over 30 years of experience in public accounting and corporate finance leadership. Prior to Ginkgo, Mr. Coen was the Corporate Vice President and Corporate Controller for Charles River Laboratories. His background also includes accounting and finance leadership roles in the technology and medical device industries, and over 17 years in the audit practice at Deloitte & Touche LLP.
Reshma Shetty, President
Reshma Shetty co-founded Ginkgo Bioworks in 2008. As of January 1, 2026, she transitioned her Chief Operating Officer responsibilities to focus on her role as President and a board member, overseeing the company's autonomous lab initiatives. Ms. Shetty has been active in synthetic biology for over 15 years and co-organized the first international synthetic biology conference. Forbes named her one of "Eight People Inventing the Future" in 2008, and Fast Company recognized her as one of "100 Most Creative People in Business" in 2011. She holds a B.S. in Computer Science from the University of Utah and a Ph.D. in Biological Engineering from MIT.
Anna Marie Wagner, Senior Vice President, Corporate Development & Head of AI
Anna Marie Wagner serves as the Senior Vice President, Corporate Development & Head of AI at Ginkgo Bioworks. In this role, she oversees Ginkgo's AI strategy, partnerships, and commercial execution, as well as its capital markets and M&A functions. Ms. Wagner led Ginkgo's public offering in 2021, which raised over $1.6 billion. She also served as the company's Interim Chief Financial Officer from June to November 2020. Before joining Ginkgo, Ms. Wagner spent nearly a decade as a technology investor at Bain Capital Private Equity. She earned a B.A. in Applied Mathematics and Economics from Harvard and an M.B.A. from Harvard Business School.
Barry Canton, Co-founder, Head of Foundry Technology Strategy
Barry Canton co-founded Ginkgo Bioworks in 2008. He is responsible for the overall foundry technology strategy and direction of the company. Mr. Canton holds a Ph.D. in Biological Engineering from MIT, where his doctoral research focused on the refinement of standard biological parts and interactions between a host cell and an engineered genetic circuit. He was also involved with the Synthetic Biology Working Group at MIT. He holds an MEngSc in Mechanical Engineering from University College Dublin.
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Here are the key risks to Ginkgo Bioworks' business:
- Lack of Profitability and Significant Cash Burn: Ginkgo Bioworks continues to incur substantial operating losses and is not yet profitable, consuming a significant amount of cash. The company reported operating losses of $223 million in Q2 2024 and substantial losses totaling $859.8 million against revenues of $315 million over the past year. Its cash reserves have dwindled, raising concerns about the need for potential future capital raises and further shareholder dilution if sustained revenue growth is not achieved to reach profitability.
- Challenging Demand Environment and Unproven Business Model: The company faces a weak and challenging demand environment across various segments, particularly in its biosecurity business post-COVID-19, and a near halt in its industrial and consumer businesses. There are concerns about whether Ginkgo's core business model and value proposition are sufficiently resonating with customers to drive consistent and meaningful revenue growth, with the business model being described as "unproven."
- Reputational Damage and Legal Scrutiny: Ginkgo Bioworks has faced accusations of being a "colossal scam" and misleading investors regarding the nature of its revenue, particularly concerning related-party transactions. These allegations led to a significant drop in stock value, a shareholder lawsuit that the company agreed to settle for up to $17.75 million, and an investigation by the Department of Justice. This has resulted in substantial reputational damage.
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Addressable Markets for Ginkgo Bioworks (DNA)
Ginkgo Bioworks operates within the broader fields of synthetic biology, bioengineering, and cellular agriculture, applying its cell programming platform across diverse end markets such as therapeutics, food ingredients, specialty chemicals, and agriculture.
Global Market Sizes:
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The global **synthetic biology market** was estimated at USD 18.94 billion in 2025 and is projected to reach USD 69.18 billion by 2033, demonstrating a Compound Annual Growth Rate (CAGR) of 17.7% from 2026 to 2033. Other estimates project this market to grow from USD 23.88 billion in 2025 to USD 130.67 billion by 2035 at a CAGR of 18.53%, or from USD 30.1 billion in 2026 to USD 128.1 billion by 2035 at a 17.5% CAGR. A McKinsey study also suggested that synthetic biology could impact USD 4 trillion across various verticals like plastics, fuels, and medicines over the next one to two decades.
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The global **bioengineering market** is estimated to grow from USD 295.28 billion in 2025 to approximately USD 1,484.98 billion by 2035, exhibiting a CAGR of 17.53% from 2026 to 2035. Another report indicates the bioengineering technology market was valued at USD 301.53 billion in 2024 and is expected to reach nearly USD 762.73 billion by 2032, with a CAGR of 12.3% from 2025.
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The global **cellular agriculture market** was valued at USD 209.3 billion in 2024 and is expected to grow from USD 243.21 billion in 2025 to reach USD 808.41 billion in 2033, at a CAGR of 16.2%. Separate projections show the market reaching USD 4.29 billion by 2030 with a CAGR of 21.7% from USD 1.60 billion in 2025. The cellular agriculture ingredients market alone was valued at USD 890 million in 2024 and is anticipated to reach USD 11.8 billion by 2034, growing at a CAGR of 29.5%.
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The global **cell reprogramming market**, a foundational technology for Ginkgo's platform, was estimated at USD 406.6 million in 2024 and is projected to reach USD 664.2 million by 2030, with a CAGR of 8.55% from 2025 to 2030. Other estimates for this market include a projected value of USD 788.7 million by 2033, at a CAGR of 8.8% from USD 437.1 million in 2026.
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Here are the expected drivers of future revenue growth for Ginkgo Bioworks (DNA) over the next 2-3 years:
- Growth in Cell Engineering Programs, particularly with Biopharma and Government Customers: Ginkgo Bioworks anticipates a significant increase in new Cell Engineering programs, with a projected addition of 100-120 new programs in 2024, representing a substantial growth rate. The company is experiencing strong momentum within the biopharma and government sectors, which are expected to be key drivers for its Cell Engineering services revenue.
- Commercialization and Expansion of Autonomous Lab Offerings and AI-driven Automation: Ginkgo is strategically shifting its focus and investing heavily in autonomous labs and AI-driven automation, viewing this as a major growth niche that will transform biotechnology. The company plans to commercialize these capabilities through cloud lab services and by building autonomous labs directly for customers, including expanding systems like its Nebula System and Reconfigurable Automation Carts (RAC system).
- Development and Launch of New "Tools" Offerings and AI-driven Data Services: Ginkgo is expanding its revenue streams beyond its core "Solutions" business by developing "Tools" offerings that provide customers with direct access to its platform capabilities. This includes introducing new products such as an in vitro ADME profiling service and a cell-free protein synthesis system. The company is also leveraging its technology to generate high-quality datasets essential for training advanced AI models, thereby offering AI-driven data services. This diversification aims to accelerate sales cycles and open new avenues for growth.
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Share Repurchases
No information available on share repurchases made or authorized by Ginkgo Bioworks over the last 3-5 years.
Share Issuance
- Ginkgo Bioworks went public on September 17, 2021, through a SPAC merger, which generated over $1.6 billion in total proceeds, including a $775 million private investment in public equity (PIPE) deal.
- In September 2025, Ginkgo Bioworks entered a Sales Agreement to potentially sell up to $100 million of its Class A common stock through at-the-market offerings for general corporate purposes.
- Approximately 2 million shares were sold in 2025, resulting in $18.1 million.
Inbound Investments
- As part of its September 2021 SPAC merger, Ginkgo Bioworks secured a $775 million PIPE deal. Anchor investors included Baillie Gifford, Putnam Investments, funds and accounts managed by Morgan Stanley's Counterpoint Global, Cathie Wood's Ark Investment Management, and Bill Gates' private investment arm Cascade Investment.
Outbound Investments
- Ginkgo Bioworks has completed 12 acquisitions, with peak activity in 2022 (6 acquisitions), 3 in 2024, and 2 in 2021.
- Notable acquisitions include Patch (a gene therapy developer) in February 2024, Altar and Circularis (cell and gene therapy capabilities) in October 2022, and Zymergen for $300 million in an all-stock deal in July 2022.
- In 2020, Ginkgo acquired the primary assets of Novogy's Microbial Engineering Platform and property for a new 219,000 square foot laboratory building for $25 million.
Capital Expenditures
- Ginkgo Bioworks reported capital expenditures of -$7.67 million in the last 12 months as of early 2026.
- The company plans to invest in and expand its autonomous labs, aiming to grow its Nebula Autonomous Lab System in Boston to 100 racks by the first half of 2026.
- The forecast for total cash burn in 2026 is between $125 million and $150 million, indicating significant ongoing investment.
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|---|---|---|---|---|---|---|---|
| 04302026 | GEHC | GE HealthCare Technologies | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
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| 04302026 | UHS | Universal Health Services | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ABT | Abbott Laboratories | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ZBIO | Zenas BioPharma | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 05312024 | DNA | Ginkgo Bioworks | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | -58.8% | -67.1% | -74.6% |
| 05312023 | DNA | Ginkgo Bioworks | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | -12.0% | -64.6% | -64.6% |
Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 6.68 |
| Mkt Cap | 1.5 |
| Rev LTM | 79 |
| Op Inc LTM | -245 |
| FCF LTM | -179 |
| FCF 3Y Avg | -216 |
| CFO LTM | -160 |
| CFO 3Y Avg | -169 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 31.4% |
| Rev Chg 3Y Avg | 11.6% |
| Rev Chg Q | 4.9% |
| QoQ Delta Rev Chg LTM | 1.1% |
| Op Inc Chg LTM | 23.4% |
| Op Inc Chg 3Y Avg | 1.7% |
| Op Mgn LTM | -228.1% |
| Op Mgn 3Y Avg | -484.1% |
| QoQ Delta Op Mgn LTM | 8.7% |
| CFO/Rev LTM | -155.6% |
| CFO/Rev 3Y Avg | -171.9% |
| FCF/Rev LTM | -179.0% |
| FCF/Rev 3Y Avg | -273.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.5 |
| P/S | 13.2 |
| P/Op Inc | -5.7 |
| P/EBIT | -5.7 |
| P/E | -5.7 |
| P/CFO | -7.2 |
| Total Yield | -18.7% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -19.6% |
| D/E | 0.1 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 8.3% |
| 3M Rtn | 14.3% |
| 6M Rtn | 24.8% |
| 12M Rtn | 37.1% |
| 3Y Rtn | -29.6% |
| 1M Excs Rtn | -5.8% |
| 3M Excs Rtn | 7.0% |
| 6M Excs Rtn | 21.7% |
| 12M Excs Rtn | 6.8% |
| 3Y Excs Rtn | -116.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Cell Engineering | 174 | 144 | 144 | 113 | 59 |
| Biosecurity | 53 | 108 | 334 | 201 | |
| Biosecurity revenue-Product | 9 | ||||
| Biosecurity revenue-Service | 9 | ||||
| Total | 227 | 251 | 478 | 314 | 77 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Biosecurity | -31 | -3 | 72 | 9 | |
| Cell Engineering | -219 | -364 | -298 | -122 | |
| Acquired in-process research and development | -10 | ||||
| Carrying cost of excess space (net of sublease income) | 0 | ||||
| Depreciation and amortization | -71 | -43 | -28 | ||
| Impairment expense | -121 | ||||
| Merger and acquisition related expenses | -61 | ||||
| Restructuring charges | 0 | ||||
| Stock-based compensation | -235 | -1,941 | -1,688 | ||
| Change in fair value of contingent consideration liability | 1 | 0 | |||
| Impairment of long-lived assets | 0 | ||||
| Total | -249 | -864 | -2,209 | -1,828 |
Price Behavior
Price Behavior
| Market Price | $8.59 | |
| Market Cap ($ Bil) | 0.5 | |
| First Trading Date | 04/19/2021 | |
| Distance from 52W High | -46.8% | |
| 50 Days | 200 Days | |
| DMA Price | $7.47 | $9.91 |
| DMA Trend | down | down |
| Distance from DMA | 15.0% | -13.3% |
| 3M | 1YR | |
| Volatility | 112.0% | 99.1% |
| Downside Capture | 413.16 | 402.87 |
| Upside Capture | 271.02 | 295.10 |
| Correlation (SPY) | 42.9% | 40.5% |
DNA Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.84 | 3.28 | 3.93 | 3.47 | 3.30 | 2.60 |
| Up Beta | 3.01 | 2.67 | 4.06 | 4.27 | 2.38 | 2.19 |
| Down Beta | -2.09 | 5.86 | 4.13 | 2.80 | 3.64 | 1.85 |
| Up Capture | 358% | 370% | 448% | 397% | 937% | 5942% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 15 | 25 | 34 | 63 | 125 | 349 |
| Down Capture | 493% | 259% | 331% | 254% | 205% | 113% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 7 | 18 | 29 | 59 | 122 | 380 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DNA | |
|---|---|---|---|---|
| DNA | 15.4% | 98.6% | 0.60 | - |
| Sector ETF (XLV) | 9.9% | 15.3% | 0.41 | 24.5% |
| Equity (SPY) | 28.9% | 12.0% | 1.82 | 40.2% |
| Gold (GLD) | 44.6% | 26.8% | 1.35 | 14.6% |
| Commodities (DBC) | 47.8% | 18.6% | 1.96 | -11.6% |
| Real Estate (VNQ) | 11.3% | 13.5% | 0.55 | 19.7% |
| Bitcoin (BTCUSD) | -21.3% | 41.7% | -0.46 | 29.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DNA | |
|---|---|---|---|---|
| DNA | -52.6% | 97.2% | -0.32 | - |
| Sector ETF (XLV) | 5.2% | 14.6% | 0.18 | 29.1% |
| Equity (SPY) | 13.7% | 17.1% | 0.63 | 43.4% |
| Gold (GLD) | 20.4% | 17.9% | 0.93 | 9.6% |
| Commodities (DBC) | 11.1% | 19.4% | 0.46 | 5.0% |
| Real Estate (VNQ) | 3.6% | 18.8% | 0.09 | 35.8% |
| Bitcoin (BTCUSD) | 7.5% | 55.9% | 0.35 | 26.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DNA | |
|---|---|---|---|---|
| DNA | -31.2% | 96.7% | -0.32 | - |
| Sector ETF (XLV) | 9.7% | 16.5% | 0.47 | 29.0% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 43.3% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 9.5% |
| Commodities (DBC) | 8.3% | 17.9% | 0.38 | 4.9% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 35.7% |
| Bitcoin (BTCUSD) | 68.2% | 66.9% | 1.07 | 26.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | -13.5% | ||
| 11/6/2025 | -20.8% | -29.2% | -15.4% |
| 8/7/2025 | -8.7% | -4.2% | -16.9% |
| 5/6/2025 | 14.7% | 25.9% | 12.1% |
| 2/25/2025 | -11.5% | -21.1% | -35.4% |
| 11/12/2024 | 2.5% | -23.1% | 23.1% |
| 5/9/2024 | -17.3% | -8.8% | -44.5% |
| 2/29/2024 | -15.1% | -21.1% | -26.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 6 | 4 | 4 |
| # Negative | 10 | 11 | 11 |
| Median Positive | 4.8% | 7.6% | 17.6% |
| Median Negative | -13.2% | -21.1% | -16.9% |
| Max Positive | 22.7% | 25.9% | 37.0% |
| Max Negative | -20.8% | -29.2% | -44.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/13/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Cash Burn | 125.00 Mil | 137.50 Mil | 150.00 Mil | Affirmed | |||
Prior: Q3 2025 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Total Revenue | 167.00 Mil | 177.00 Mil | 187.00 Mil | 0 | Affirmed | Guidance: 177.00 Mil for 2025 | |
| 2025 Cell Engineering Revenue | 117.00 Mil | 127.00 Mil | 137.00 Mil | 0 | Affirmed | Guidance: 127.00 Mil for 2025 | |
| 2025 Biosecurity Revenue | 40.00 Mil | 0 | Affirmed | Guidance: 40.00 Mil for 2025 | |||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Coen, Steven P | See remarks | Direct | Sell | 4202026 | 7.95 | 324 | 2,576 | 399,731 | Form |
| 2 | Canton, Barry | Spouse | Sell | 4132026 | 6.43 | 124,727 | 802,494 | 2,807,939 | Form | |
| 3 | Shetty, Reshma P | See remarks | Direct | Sell | 4132026 | 6.43 | 124,727 | 802,494 | 2,807,939 | Form |
| 4 | Shetty, Reshma P | See remarks | Spouse | Sell | 4102026 | 6.40 | 13,116 | 83,903 | 2,165,819 | Form |
| 5 | Canton, Barry | Direct | Sell | 4102026 | 6.40 | 13,116 | 83,903 | 2,165,819 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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