Financial PerformanceGinkgo posted Q4 revenues of $35M, a significant 65% year-on-year decline, and FY23 revenues of $251M, a 47% decrease from the previous year, falling short of market expectations.
Guidance And StrategyAnalysts express concerns as Ginkgo undergoes a strategic shift in its commercial monetization approach, casting doubt on future business predictability.
Operational ChangesGinkgo's announcement of substantial workforce reductions and a significant cut in its physical footprint signals potential internal challenges and cost pressures.