Summary by Moomoo AI
Ginkgo Bioworks, a leading horizontal platform for cell programming, reported a stable Cell Engineering revenue of $143.5 million in 2023, nearly unchanged from the previous year. However, the company experienced a significant decrease in Biosecurity revenue, which dropped by $226.1 million due to reduced demand for COVID-19 testing products and services. The company's total revenue for the year was $251.5 million, a substantial decline from $477.7 million in 2022. Research and Development expenses saw a decrease of $472 million, primarily due to a reduction in stock-based compensation expense. General and Administrative expenses also decreased by $1.04 billion for the same reason. Ginkgo faced a $96.2 million impairment related to the exit of a Zymergen facility. Interest income increased by $37 million, attributed to higher interest rates on cash...Show More