10-Q · May 7, 2026
Ginkgo Bioworks reported Q1 2026 revenue of $19.5 million, significantly missing estimates ($42.4 million) and declining 49% year-over-year. The EPS loss of $1.39 also fell short of expectations, coupled with a cash…
Earnings analysis · 10-Q
DNA earnings analysis
Filed November 9, 2026 · Our reading of the company's report
The latest report
Ginkgo’s Q3 revenue of $27.711 million rebounded 38.6% sequentially but remained 28.9% below the prior-year quarter, while diluted EPS improved to $(0.64) yet missed the $(0.55) estimate. Liquidity was $287.3 million in…
Read full summary
Ginkgo’s Q3 revenue of $27.711 million rebounded 38.6% sequentially but remained 28.9% below the prior-year quarter, while diluted EPS improved to $(0.64) yet missed the $(0.55) estimate. Liquidity was $287.3 million in cash equivalents and marketable debt securities, but the reaffirmed $125 million to $150 million full-year cash-burn outlook leaves funding and execution risks. The 10-Q reported no material changes to the company’s previously disclosed risk factors.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.64
What stood out
-
Revenue rebounded sequentially
Q3 revenue was $27.711 million, up from $20 million in Q2 2026, an increase of approximately 38.6%, but down from $39 million in Q3 2025, a decline of approximately 28.9%.
-
Loss narrowed but EPS missed
Diluted EPS was $(0.64), improving from $(0.75) in Q2 2026 and $(1.45) in Q3 2025. EPS nevertheless missed the $(0.55) estimate by $0.09 per share.
-
Liquidity remains substantial
Cash equivalents and marketable debt securities totaled $287.3 million as of September 30, 2026, providing liquidity across money market funds, Treasuries, corporate bonds and commercial paper.
-
Limited stated interest-rate exposure
The company reported that a 100-basis-point immediate change in interest rates would not have a material impact on its consolidated financial statements, reflecting the short-term nature and quality of its investments.
-
Controls remained effective
Disclosure controls were judged effective as of September 30, 2026, and the company reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls during the quarter.
What to watch
-
EPS remained below expectations
Diluted EPS was $(0.64) versus the $(0.55) consensus estimate, an unfavorable variance of $0.09 per share, despite improvement from $(1.45) in the prior-year quarter.
-
Continued cash-burn risk
The company reaffirmed full-year 2026 total cash-burn guidance of $150 million to $125 million. Against $287.3 million of cash equivalents and marketable debt securities at September 30, 2026, continued cash consumption remains a funding risk.
-
Revenue remains below prior year
Q3 revenue of $27.711 million remained approximately 28.9% below the $39 million reported in Q3 2025, indicating that the sequential recovery has not yet restored prior-year revenue levels.
-
Foreign-exchange headwind
Foreign-currency translation loss was $(0.5) million in Q3 2026 and $(1.1) million for the first nine months, compared with de minimis and $3.5 million of translation gains, respectively, in the comparable 2025 periods.
-
No material risk-factor improvement
The 10-Q states that there were no material changes to the risk factors disclosed in the 2025 Annual Report; therefore, no new risk-factor mitigation or reduction was identified in this filing.
Management's outlook
The 10-Q does not provide explicit revenue or EPS guidance. The company’s November 5, 2026 earnings update reaffirmed full-year 2026 total cash-burn guidance of $150 million to $125 million.
Earlier filings 4
10-K · February 26, 2026
Ginkgo’s 10-K reiterates its strategy to scale an Autonomous Lab platform (automation + AI + reusable biological assets) across two businesses: cell engineering and biosecurity. FY2025 quarter results show continued…
10-Q · May 6, 2025
Ginkgo reported Q1 revenue of $48,318,000, up $10,374,000 (27%) year-over-year, driven by Cell Engineering growth. Loss from operations improved to $(88,968,000) from $(178,002,000) a year earlier and diluted EPS…
10-Q · August 8, 2024
Ginkgo reported quarterly revenue of $56,206 (in thousands) and a GAAP net loss of $217,181 (in thousands), or $(0.11) per share, driven by large operating expenses including a $47,858 (in thousands) goodwill impairment…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.