Summary by Moomoo AI
Ginkgo Bioworks Holdings, Inc. reported a decrease in total revenue for the first quarter ended March 31, 2024, with revenues falling to $37.944 million from $80.702 million in the same period last year. The company's Cell Engineering segment saw a decrease in revenue from $34.096 million to $27.889 million, while the Biosecurity segment's revenue dropped significantly from $46.606 million to $10.055 million. The total segment operating loss widened to $123.662 million from $116.410 million year-over-year. The diluted net loss per share remained constant at $0.08, improving from a net loss of $0.11 per share in the previous year. Ginkgo Bioworks also reported a net loss of $165.911 million, an improvement from a net loss of $204.969 million in the first quarter of 2023. The company has undertaken restructuring actions to reduce...Show More