BOSTON, Jan. 12, 2022 /PRNewswire/ -- Ginkgo Bioworks
(NYSE: DNA), the leading horizontal platform for cell programming,
announced today preliminary performance updates for the year
ended December 31, 2021. Among the
results, Ginkgo highlighted that it expects to meet or exceed its
key 2021 full year targets for the commencement of new cell
programs and revenue from its cell programming and biosecurity
offerings based on its preliminary unaudited estimates. The
results, along with a broader business review, will be featured in
a presentation today at the 40th Annual J.P. Morgan Healthcare
Conference.
"In our Q3 earnings call Ginkgo updated our 2021 outlook on the
number of new cell programs, Foundry revenue, and Biosecurity
revenue — I'm happy to report that based on preliminary unaudited
estimates for the full year, we expect to meet or beat all of
those, with Biosecurity revenue exceeding our outlook by over 50%,"
said Jason Kelly, Ginkgo's
co-founder and Chief Executive Officer. "Scale is fundamental to
our strategy and competitive advantage, and with over $1.6 billion in gross proceeds from our public
debut, we believe we are well-positioned to continue to play
offense in the coming years. The past year was transformational for
Ginkgo, and I am grateful for the dedication of our team and the
commitment of our partners in contributing to our success in 2021.
I'm excited to work with our team to continue to deliver on our
mission and drive rapid growth in the year ahead."
Preliminary 2021 Key Performance Highlights & 2022
Priorities
- Met goal to add at least 30 new programs in 2021, resulting in
over 100 cumulative cell programs being launched at Ginkgo.
- Preliminary unaudited Foundry revenue is expected to exceed
previously disclosed outlook of $100
million for full year 2021, inclusive of both downstream
value share and services revenue.
- Preliminary unaudited Biosecurity revenue is expected to exceed
previously disclosed outlook of $110
million for full year 2021 by over 50%.
-
- Significant outperformance driven by strong company execution
and increasing demand, as schools continue to implement and expand
testing programs managed by Concentric, Ginkgo's public health and
biosecurity initiative.
- As evidence of the scale achieved to date, Concentric has
recently been collecting over 280,000 samples per week and
conducted over 3 million tests in the second half of 2021.
- Building conviction around long-term development of the
biosecurity sector, as exemplified by the U.S. Centers for Disease
Control and Prevention (CDC) Travel Biosurveillance Program, where
Concentric is collaborating with the CDC and XpresCheck to build an
infrastructure that helps identify and mitigate the importation of
new and existing pathogens into the
United States. Given the success of the program in 2021, the
CDC has extended it into 2022.
- Ginkgo continues to have a strong balance sheet, and its
capital allocation priorities for 2022 include investments in
platform infrastructure and R&D, organizational buildout to
support scaling partnerships and public company requirements, and
opportunistic external investments, including M&A and licensing
opportunities.
Ginkgo expects to report audited fourth quarter and full year
2021 financial results in March 2022,
at which time it intends to provide its outlook for full year
2022.
J.P. Morgan Healthcare Conference on Wednesday, January 12, 2022
As previously announced, co-founder and CEO Jason Kelly is scheduled to participate in a
presentation at the 40th Annual J.P. Morgan Healthcare Conference
on January 12, 2022 at 3:45 p.m. Eastern Time.
Further details, a webcast link, and a replay of the
presentation will be posted on the company's investor relations
website at https://investors.ginkgobioworks.com/events.
About Ginkgo Bioworks
Ginkgo is building a platform to enable customers to program
cells as easily as we can program computers. The company's platform
is enabling biotechnology applications across diverse markets, from
food and agriculture to industrial chemicals to pharmaceuticals.
Ginkgo has also actively supported a number of COVID-19 response
efforts, including K-12 pooled testing, vaccine manufacturing
optimization and therapeutics discovery. For more information,
visit www.ginkgobioworks.com.
Ginkgo Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws, including
statements regarding Ginkgo's unaudited preliminary financial
information for the fiscal year ended December 31, 2021. These forward-looking
statements generally are identified by the words "believe,"
"project," "potential," "expect," "anticipate," "estimate,"
"intend," "strategy," "future," "opportunity," "plan," "may,"
"should," "will," "would," "will be," "will continue," "will likely
result," and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this document, including but not
limited to: (i) the effect of the business combination with Soaring
Eagle Acquisition Corp. ("Soaring Eagle") on Ginkgo's business
relationships, performance, and business generally, (ii) risks that
the business combination disrupts current plans of Ginkgo and
potential difficulties in Ginkgo's employee retention, (iii) the
outcome of any legal proceedings that may be instituted against
Ginkgo related to its business combination with Soaring Eagle, (iv)
volatility in the price of Ginkgo's securities now that it is a
public company due to a variety of factors, including changes in
the competitive and highly regulated industries in which Ginkgo
plans to operate, variations in performance across competitors,
changes in laws and regulations affecting Ginkgo's business and
changes in the combined capital structure, (v) the ability to
implement business plans, forecasts, and other expectations after
the completion of the business combination, and identify and
realize additional opportunities, and (vi) the risk of downturns in
demand for products using synthetic biology. The foregoing list of
factors is not exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the "Risk Factors" section of Ginkgo's quarterly report on Form
10-Q filed with the U.S. Securities and Exchange Commission (the
"SEC") on November 15, 2021 and other
documents filed by Ginkgo from time to time with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
The preliminary financial information set forth in this press
release is subject to the completion of Ginkgo's audit process and
is subject to change. The estimated preliminary results included in
this press release should not be viewed as a substitute for
Ginkgo's annual financial statements prepared in accordance with
U.S. generally accepted accounting principles.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Ginkgo assumes no obligation and does not intend to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise. Ginkgo does
not give any assurance that it will achieve its expectations.
Ginkgo Bioworks Contacts:
INVESTOR CONTACT:
investors@ginkgobioworks.com
MEDIA CONTACT:
press@ginkgobioworks.com
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SOURCE Ginkgo Bioworks