Ginkgo Bioworks Holdings, Inc. (DNA) Stock Depicting Bullish Trend, Here’s the Reason

Ginkgo Bioworks Holdings, Inc. (DNA), a company known for developing a cell programming platform, closed Monday’s regular trading session at $3.74 after increasing by 2.19% during the day. In the aftermarket trading session, DNA stock is building upon the gained momentum, as it has soared by 5.08% and consequently, was trading at $3.93 when last checked. The stock price started to rise following the announcement of solid financial results.

Q4 & FY 2021 Results

On Monday, after the closure of the market, DNA announced the results for Q4 & FY 2021. The revenue for Q4 2021 was $148 million, an increase of 363% on a year-per-year basis. The operational loss for the quarter stood at $1.7 billion versus $56 million during the same quarter of the preceding year. The adjusted EBITDA for Q4 2021 was $1 million. During the full year of 2021, the company generated total revenue of $314 million, depicting an increase of 309% compared to FY 2020. The adjusted EBITDA for FY 2021 was negative $106 million.

FY 2022 Guidance

Alongside, DNA announced the FY 2022 guidance as well. The company expects that it would be able to add 60 new cell programs to its foundry platform during FY 2022. The total revenue for fiscal 2022 is expected to remain in the range of $325 to $340 million. Specifically looking, the company hopes to generate foundry revenue in the range of $165 to $180 million, while it is expected that the biosecurity revenue would be a minimum of $160 million.

Comments from DNA CEO

Jason Kelly, CEO of DNA, commented that the working environment of the company is providing both challenges and opportunities to thrive. The company believes that it has remained in a strong position during 2021. Ginkgo’s focus on developing technologies for biologically engineering the product is something extraordinary and unique.

What’s Ahead for DNA Stock?

Looking ahead, analysts are holding a negative evaluation of DNA stock. The technical signals are pointing toward a grim situation for the stock. Hence, the stock price is expected to remain below par during the upcoming couple of weeks.