Ginkgo Bioworks Reports Second Quarter 2025 Financial Results
Ginkgo Bioworks (NYSE: DNA) reported Q2 2025 financial results, with total revenue of $50 million, down from $56 million year-over-year. The company's Cell Engineering revenue grew 8% to $39 million, while Biosecurity revenue declined to $10 million. The company reported a GAAP net loss of $60 million, significantly improved from a $217 million loss in the prior year.
Notably, Ginkgo achieved its $250 million annualized cost reduction target three months ahead of schedule through workforce reductions and site consolidation. The company maintains its 2025 outlook of $167-$187 million in total revenue and aims to reach Adjusted EBITDA breakeven by the end of 2026. Ginkgo also expanded its services, launching new automated ADME profiling and cell-free protein synthesis systems.
Ginkgo Bioworks (NYSE: DNA) ha riportato i risultati finanziari del secondo trimestre 2025, con un fatturato totale di 50 milioni di dollari, in calo rispetto ai 56 milioni dello stesso periodo dell'anno precedente. Il fatturato del settore Cell Engineering 猫 cresciuto dell'8% raggiungendo 39 milioni di dollari, mentre i ricavi della Biosecurity sono diminuiti a 10 milioni di dollari. L'azienda ha registrato una perdita netta GAAP di 60 milioni di dollari, un miglioramento significativo rispetto alla perdita di 217 milioni dell'anno precedente.
In particolare, Ginkgo ha raggiunto il suo obiettivo di riduzione dei costi annualizzati di 250 milioni di dollari con tre mesi di anticipo, grazie a riduzioni del personale e alla consolidazione dei siti. L'azienda conferma le previsioni per il 2025 con un fatturato totale compreso tra 167 e 187 milioni di dollari e punta a raggiungere il pareggio dell'EBITDA rettificato entro la fine del 2026. Inoltre, Ginkgo ha ampliato i suoi servizi, lanciando nuovi sistemi automatizzati per il profiling ADME e la sintesi proteica cell-free.
Ginkgo Bioworks (NYSE: DNA) inform贸 los resultados financieros del segundo trimestre de 2025, con un ingreso total de 50 millones de d贸lares, disminuyendo desde 56 millones en el mismo per铆odo del a帽o anterior. Los ingresos por Cell Engineering crecieron un 8%, alcanzando los 39 millones de d贸lares, mientras que los ingresos por Bioseguridad bajaron a 10 millones. La compa帽铆a report贸 una p茅rdida neta GAAP de 60 millones de d贸lares, mejorando significativamente respecto a la p茅rdida de 217 millones del a帽o previo.
Destaca que Ginkgo logr贸 su objetivo anualizado de reducci贸n de costos de 250 millones de d贸lares tres meses antes de lo previsto, mediante recortes de personal y consolidaci贸n de sitios. La empresa mantiene su perspectiva para 2025 con un ingreso total entre 167 y 187 millones de d贸lares y apunta a alcanzar el equilibrio del EBITDA ajustado para finales de 2026. Adem谩s, Ginkgo ampli贸 sus servicios lanzando nuevos sistemas automatizados para el perfilado ADME y la s铆ntesis proteica sin c茅lulas.
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韸鬼瀳, Ginkgo電� 鞚鸽牓 臧愳稌瓿� 靷梾鞛� 韱淀暕鞚� 韱淀暣 鞐瓣皠 2鞏� 5,000毵� 雼煬鞚� 牍勳毄 鞝堦皭 氇╉憸毳� 鞓堨爼氤措嫟 靹� 雼� 鞎烄劀 雼劚頄堨姷雼堧嫟. 須岇偓電� 2025雲� 齑� 毵れ稖鞎§潉 1鞏� 6,700毵� 雼煬鞐愳劀 1鞏� 8,700毵� 雼煬 靷澊搿� 鞝勲頃橂┌, 2026雲� 毵愱箤歆� 臁办爼 EBITDA 靻愳澋攵勱赴鞝� 雼劚鞚� 氇╉憸搿� 頃橁碃 鞛堨姷雼堧嫟. 霕愴暅, Ginkgo電� 鞛愲彊頇旊悳 ADME 頂勲韺岇澕毵� 氚� 靹疙彫 鞐嗠姅 雼氨歆� 頃╈劚 鞁滌姢韰滌潉 靸堧…瓴� 於滌嫓頃橂┌ 靹滊箘鞀るゼ 頇曥灔頄堨姷雼堧嫟.
Ginkgo Bioworks (NYSE : DNA) a publi茅 ses r茅sultats financiers du deuxi猫me trimestre 2025, avec un chiffre d'affaires total de 50 millions de dollars, en baisse par rapport 脿 56 millions l'ann茅e pr茅c茅dente. Le chiffre d'affaires de la division Cell Engineering a augment茅 de 8 % pour atteindre 39 millions de dollars, tandis que les revenus de la Biosecurity ont diminu茅 脿 10 millions de dollars. La soci茅t茅 a enregistr茅 une perte nette GAAP de 60 millions de dollars, une am茅lioration significative par rapport 脿 la perte de 217 millions de dollars de l'ann茅e pr茅c茅dente.
Notamment, Ginkgo a atteint son objectif de r茅duction annuelle des co没ts de 250 millions de dollars avec trois mois d'avance gr芒ce 脿 des r茅ductions d'effectifs et 脿 la consolidation des sites. L'entreprise maintient ses pr茅visions 2025 avec un chiffre d'affaires total compris entre 167 et 187 millions de dollars et vise un 茅quilibre de l'EBITDA ajust茅 d'ici fin 2026. Ginkgo a 茅galement 茅largi ses services en lan莽ant de nouveaux syst猫mes automatis茅s de profilage ADME et de synth猫se prot茅ique sans cellules.
Ginkgo Bioworks (NYSE: DNA) meldete die Finanzergebnisse f眉r das zweite Quartal 2025 mit einem Gesamtumsatz von 50 Millionen US-Dollar, was einem R眉ckgang von 56 Millionen US-Dollar im Vorjahresvergleich entspricht. Der Umsatz im Bereich Cell Engineering stieg um 8 % auf 39 Millionen US-Dollar, w盲hrend der Umsatz im Bereich Biosecurity auf 10 Millionen US-Dollar zur眉ckging. Das Unternehmen verzeichnete einen GAAP-Nettogewinnverlust von 60 Millionen US-Dollar, was eine deutliche Verbesserung gegen眉ber dem Verlust von 217 Millionen US-Dollar im Vorjahr darstellt.
Bemerkenswert ist, dass Ginkgo sein Ziel einer annualisierten Kostensenkung von 250 Millionen US-Dollar drei Monate vor dem Zeitplan durch Personalabbau und Standortkonsolidierung erreicht hat. Das Unternehmen best盲tigt seine Prognose f眉r 2025 mit einem Gesamtumsatz von 167 bis 187 Millionen US-Dollar und strebt an, bis Ende 2026 das bereinigte EBITDA auf Null zu bringen. Zudem hat Ginkgo sein Dienstleistungsangebot erweitert und neue automatisierte Systeme f眉r ADME-Profiling und zellfreie Proteinsynthese eingef眉hrt.
- Achieved $250 million cost reduction target 3 months ahead of schedule
- Cell Engineering revenue increased 8% to $39 million year-over-year
- GAAP net loss improved significantly to $60 million from $217 million year-over-year
- Strong cash position with $474 million in cash and equivalents
- Launched new automated ADME profiling service and cell-free protein synthesis system
- Secured major contract with Pacific Northwest National Laboratory
- Total revenue declined to $50 million from $56 million year-over-year
- Biosecurity revenue dropped 50% to $10 million from $20 million year-over-year
- Still operating at a significant net loss of $60 million
- Implemented workforce reductions and site consolidations
Insights
Ginkgo achieved cost-cutting targets ahead of schedule despite mixed Q2 results with declining revenue and continued losses.
Ginkgo Bioworks' Q2 results paint a mixed picture with some encouraging signs amid ongoing challenges. Total revenue dropped to
The company's GAAP net loss narrowed dramatically to
The cash position stands at
Strategically, Ginkgo is positioning itself at the intersection of AI and biology, expanding its automated systems capabilities through new contracts with Pacific Northwest National Laboratory and launching new services including an in vitro ADME profiling service and a cell-free protein synthesis system. These initiatives aim to establish recurring revenue streams while leveraging their automation expertise in high-value markets.
Ginkgo provides an update on its restructuring, including achievement of its expanded
Second Quarter 2025 Financial Results
- Second quarter 2025 Total revenue of
$50 million $56 million - Second quarter 2025 Cell Engineering revenue of
$39 million $36 million 8% , primarily driven by growth with biopharma and government customers - Second quarter 2025听Biosecurity revenue of
$10 million $20 million
- Second quarter 2025 Cell Engineering revenue of
- Second quarter 2025 GAAP net loss of
$(60) million $(217) million - Second quarter 2025 Adjusted EBITDA of
$(28) million $(99) million - Cash, cash equivalents and marketable securities balance as of June 30, 2025 of
$474 million
"Our platform is proving to be a critical engine for AI in biology, with growing demand for our automation and data generation capabilities," said Jason Kelly, co-founder and CEO of Ginkgo Bioworks. "This is translating into commercial traction, including major new government contracts and expanded service offerings in response to demand in the biopharma industry. This progress is backed by rigorous financial discipline, allowing us to achieve our
Recent Business Highlights & Strategic Positioning
- Ginkgo's Automation and Datapoints offerings continue to establish themselves as critical tools in AI-powered bioengineering
- Pacific Northwest National Laboratory (PNNL) selected Ginkgo Automation to deliver a state-of-the-art automated anaerobic phenotyping platform, to assist with what is believed to be the largest automated anaerobic system for research in the world
- Ginkgo launched a new in vitro听ADME profiling Service, built on its proprietary RAC automation system. Designed for scale and efficiency, the Service delivers assay quality at cost-effective pricing and includes a price-matching guarantee. By automating traditionally labor-intensive assays and executing them onshore, Ginkgo enables customers to profile more compounds earlier, accelerate decision-making, train AI/ML models, and reduce costs while protecting valuable IP. This launch strengthens Ginkgo's position as a differentiated US-based partner in preclinical R&D analytical services for small molecule drug development.
- Ginkgo launched its first direct-to-scientist product: a cell-free protein synthesis system
- This E.听coli-based system is optimized for high production from linear DNA, increased solubility of difficult-to-express proteins, and compatibility with automation
- Ginkgo continues to progress towards its objective to reach Adjusted EBITDA breakeven by the end of 2026
- Ginkgo has achieved its target to reach
$250 million
- Ginkgo has achieved its target to reach
Full Year 2025 Outlook
- Ginkgo reaffirms Total revenue of
$167 -$187 million - Ginkgo continues to expect Cell Engineering revenue of
$117 -$137 million - Ginkgo expects听Biosecurity revenue of at least
$40 million
- Ginkgo continues to expect Cell Engineering revenue of
Conference Call Details
Ginkgo will host a videoconference today, Thursday, August 7, 2025, beginning at 5:30 p.m. ET. The presentation will include an overview of the second quarter of 2025, recent business updates, a discussion on Ginkgo's outlook, as well as a moderated question and answer session.
To ask a question ahead of the presentation, please submit your questions to听 on X (hashtag #GinkgoResults) or by sending an e-mail to听[email protected].
A webcast link is available on and a replay will be made available following the presentation.
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Webinar ID: 953 3421 4604
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About Ginkgo Bioworks
Ginkgo Bioworks builds the tools that make biology easier to engineer for everyone.听 Ginkgo R&D Solutions delivers customizable R&D packages鈥攕uch as protein engineering, nucleic acid design, and cell-free systems鈥攇iving partners a comprehensive way to accelerate innovation across therapeutics, diagnostics, & manufacturing.听 Ginkgo Automation sells modular, integrated laboratory automation so scientists can spend their days planning and analyzing experiments rather than pipetting in the lab.听 Ginkgo Datapoints uses Ginkgo's in-house automation to generate the large lab data sets to power your AI models.听 Ginkgo Biosecurity is building and deploying the next-generation infrastructure and technologies that global leaders need to predict, detect, and respond to a wide variety of biological threats. For more information, visit ginkgobioworks.com and ginkgobiosecurity.com, read our blog, or follow us on social media channels such as X (@Ginkgo and @Ginkgo_Biosec), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks), or LinkedIn.
Forward-Looking Statements of Ginkgo Bioworks
This press release, the presentation, and the conference call and webcast contain certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our plans, including with respect to technology adaptations to meet our customers' needs, strategies, including with respect to our current expectations, operations and anticipated results of operations, both business and financial, including the timing for attaining Adjusted EBITDA听breakeven, impacts of our restructuring, potential customer success, including successful application of our offerings by our customers, and expectations with regard to revenue, including our ability to meet all milestones and achieve the maximum revenue available under certain of our customer arrangements, expenses, our full year 2025 outlook, and the market environment, all of which are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, market trends, or industry results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements generally are identified by the words "believe," "can," "project," "potential," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) our ability to realize near-term and long-term cost savings associated with our site consolidation plans, including the ability to terminate leases or find sub-lease tenants for unused facilities, (ii) volatility in the price of Ginkgo's securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo operates and plans to operate, variations in performance across competitors, and changes in laws and regulations affecting Ginkgo's business, (iii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, including with respect to our solutions and tools offerings, (iv) the risk of downturns in demand for products using synthetic biology, (v) the uncertainty regarding the demand for passive monitoring programs and biosecurity services, (vi) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vii) the outcome of any pending or potential legal proceedings against Ginkgo, (viii) our ability to realize the expected benefits from and the success of our Foundry platform programs and Codebase assets, (ix) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, (x) the product development, production or manufacturing success of our customers, (xi) our exposure to the volatility and liquidity risks inherent in holding equity interests in other operating companies and other non-cash consideration we may receive for our services, (xii) the potential negative impact on our business of our restructuring or the failure to realize the anticipated savings associated therewith and (xiii) the uncertainty regarding government budgetary priorities and funding allocated to government agencies. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Ginkgo's annual report on Form 10-K filed with the
Use of Non-GAAP Financial Measures
Certain of the financial measures included in this release, including Adjusted EBITDA, have not been prepared in accordance with generally accepted accounting principles ("GAAP"), and constitute "non-GAAP financial measures" as defined by the SEC. Ginkgo has included these non-GAAP financial measures because it believes they provide an additional tool for investors to use in evaluating Ginkgo's financial performance and prospects. Due to the nature and/or size of the items being excluded, such items do not reflect future gains, losses, expenses or benefits and are not indicative of our future operating performance. These non-GAAP financial measures are supplemental to, and should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. In addition, these non-GAAP financial measures may differ from non-GAAP financial measures with comparable names used by other companies. See the reconciliation below for additional information regarding certain of the non-GAAP financial measures included in this release, including a description of these non-GAAP financial measures and a reconciliation of the historic measures to Ginkgo's most comparable GAAP financial measures.
Ginkgo Bioworks Contacts:
INVESTOR CONTACT:
[email protected]听
MEDIA CONTACT:
[email protected]
听
Ginkgo Bioworks Holdings, Inc. Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share data) | |||
鈥� | |||
As of June 30, 2025 | As of December 31, 2024 | ||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $听听听听听听听听听听听听听听听听听 203,566 | $听听听听听听听听听听听听听听听听听 561,572 | |
Marketable securities | 270,125 | 鈥� | |
Accounts receivable, net | 22,152 | 21,857 | |
Accounts receivable - related parties | 974 | 586 | |
Prepaid expenses and other current assets | 26,208 | 18,729 | |
Total current assets | 523,025 | 602,744 | |
Property, plant and equipment, net | 186,354 | 203,720 | |
Operating lease right-of-use assets | 375,796 | 394,435 | |
Investments | 32,662 | 48,704 | |
Intangible assets, net | 66,152 | 72,510 | |
Other non-current assets | 47,020 | 55,336 | |
Total assets | $听听听听听听听听听听听听听听 1,231,009 | $听听听听听听听听听听听听听听 1,377,449 | |
Liabilities and Stockholders' Equity | |||
Current liabilities: | |||
Accounts payable | $听听听听听听听听听听听听听听听听听听听 11,202 | $听听听听听听听听听听听听听听听听听听听 14,169 | |
Deferred revenue (includes | 28,287 | 27,710 | |
Accrued expenses and other current liabilities | 57,231 | 65,387 | |
Total current liabilities | 96,720 | 107,266 | |
Non-current liabilities: | |||
Deferred revenue, net of current portion (includes | 74,566 | 98,783 | |
Operating lease liabilities, non-current | 428,827 | 438,766 | |
Other non-current liabilities | 17,944 | 16,576 | |
Total liabilities | 618,057 | 661,391 | |
Commitments and contingencies (Note 10) | |||
Stockholders' equity: | |||
Preferred stock, | 鈥� | 鈥� | |
Common stock, | 6 | 5 | |
Additional paid-in capital | 6,600,107 | 6,555,416 | |
Accumulated deficit | (5,988,814) | (5,837,557) | |
Accumulated other comprehensive income (loss) | 1,653 | (1,806) | |
Total stockholders' equity | 612,952 | 716,058 | |
Total liabilities and stockholders' equity | $听听听听听听听听听听听听听听 1,231,009 | $听听听听听听听听听听听听听听 1,377,449 | |
鈥� |
The accompanying notes are an integral part of these condensed consolidated financial statements. |
听
Ginkgo Bioworks Holdings, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) (in thousands, except share data) | |||||||
鈥� | |||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Cell Engineering revenue (1) | $听听听听听听听听听听听 39,134 | $听听听听听听听听听听听 36,205 | $听听听听听听听听听听听 77,364 | $听听听听听听听听听听听 64,094 | |||
Biosecurity revenue | 10,470 | 20,001 | 20,558 | 30,056 | |||
Total revenue | 49,604 | 56,206 | 97,922 | 94,150 | |||
Costs and operating expenses: | |||||||
Cost of Biosecurity revenue | 9,442 | 11,807 | 17,399 | 21,009 | |||
Cost of other revenue | 5,380 | 1,914 | 9,470 | 1,914 | |||
Research and development | 53,370 | 134,221 | 124,293 | 270,678 | |||
General and administrative | 43,279 | 66,285 | 92,322 | 136,572 | |||
Goodwill impairment | 鈥� | 47,858 | 鈥� | 47,858 | |||
Restructuring charges | 3,674 | 17,066 | 8,947 | 17,066 | |||
Total operating expenses | 115,145 | 279,151 | 252,431 | 495,097 | |||
Loss from operations | (65,541) | (222,945) | (154,509) | (400,947) | |||
Other income (expense): | |||||||
Interest income, net | 6,083 | 10,313 | 12,164 | 22,024 | |||
Loss on investments | (229) | (6,826) | (3,922) | (9,370) | |||
Change in fair value of warrant liabilities | 鈥� | 3,233 | 鈥� | 4,173 | |||
Other income (expense), net | (896) | (766) | (5,185) | 1,249 | |||
Total other income | 4,958 | 5,954 | 3,057 | 18,076 | |||
Loss before income taxes | (60,583) | (216,991) | (151,452) | (382,871) | |||
Income tax (benefit) expense | (283) | 190 | (195) | 221 | |||
Net loss | $听听听听听听听听听 (60,300) | $听听听听听听听 (217,181) | $听听听听听听听 (151,257) | $听听听听听听听 (383,092) | |||
Net loss per share: | |||||||
Basic | $听听听听听听听听听听听听听 (1.10) | $听听听听听听听听听听听听听 (4.23) | $听听听听听听听听听听听听听 (2.77) | $听听听听听听听听听听听听听 (7.55) | |||
Diluted | $听听听听听听听听听听听听听 (1.10) | $听听听听听听听听听听听听听 (4.23) | $听听听听听听听听听听听听听 (2.77) | $听听听听听听听听听听听听听 (7.56) | |||
Weighted average common shares outstanding: | |||||||
Basic | 54,858,982 | 51,370,029 | 54,552,006 | 50,740,744 | |||
Diluted | 54,858,982 | 51,375,599 | 54,552,006 | 50,746,314 | |||
Comprehensive loss: | |||||||
Net loss | $听听听听听听听听听 (60,300) | $听听听听听听听 (217,181) | $听听听听听听听 (151,257) | $听听听听听听听 (383,092) | |||
Other comprehensive (loss) income: | |||||||
Foreign currency translation adjustment | 2,586 | (172) | 3,435 | (3,207) | |||
Unrealized gains (loss) on available-for-sale securities | (83) | 鈥� | 24 | 鈥� | |||
Total other comprehensive (loss) income | 2,503 | (172) | 3,459 | (3,207) | |||
Comprehensive loss | $听听听听听听听听听 (57,797) | $听听听听听听听 (217,353) | $听听听听听听听 (147,798) | $听听听听听听听 (386,299) | |||
鈥� | |
(1) | Includes related party revenue of |
听
Ginkgo Bioworks Holdings, Inc. Condensed Consolidated Statements of Cash Flows (unaudited) (in thousands) | |||
鈥� | |||
Six Months Ended June 30, | |||
2025 | 2024 | ||
Cash flows from operating activities: | |||
Net loss | $听听听听听听听 (151,257) | $听听听听听听听 (383,092) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 31,159 | 30,199 | |
Stock-based compensation | 42,678 | 77,928 | |
Goodwill impairment | 鈥� | 47,858 | |
Restructuring related impairment charges | 鈥� | 4,823 | |
Loss on investments | 3,958 | 9,370 | |
Change in fair value of notes receivable | 5,285 | 1 | |
Change in fair value of warrant liabilities | 鈥� | (4,173) | |
Change in fair value of contingent consideration | (4,232) | 2,284 | |
Non-cash lease expense | 14,866 | 13,070 | |
Non-cash in-process research and development | 鈥� | 19,795 | |
Other non-cash activity | 46 | 2,096 | |
Changes in operating assets and liabilities: | |||
Accounts receivable | (412) | (1,102) | |
Prepaid expenses and other current assets | (2,272) | 1,770 | |
Operating lease right-of-use assets | 3,814 | 14,373 | |
Other non-current assets | (125) | (833) | |
Accounts payable, accrued expenses and other current liabilities | (5,125) | 10,864 | |
Deferred revenue, current and non-current ( | (23,676) | (17,012) | |
Operating lease liabilities, current and non-current | (11,638) | (3,866) | |
Other non-current liabilities | 5,156 | 1,998 | |
Net cash used in operating activities | (91,775) | (173,649) | |
Cash flows from investing activities: | |||
Purchases of marketable debt securities | (320,132) | 鈥� | |
Maturities of marketable debt securities | 64,958 | 鈥� | |
Purchases of property and equipment | (7,660) | (33,742) | |
Business acquisition | 鈥� | (5,400) | |
Other | 262 | 191 | |
Net cash used in investing activities | (262,572) | (38,951) | |
Cash flows from financing activities: | |||
Proceeds from exercise of stock options | 鈥� | 84 | |
Principal payments on finance leases | (305) | (494) | |
Contingent consideration payment | 鈥� | (661) | |
Net cash used in financing activities | (305) | (1,071) | |
Effect of foreign exchange rates on cash and cash equivalents | 260 | (173) | |
Net decrease in cash, cash equivalents and restricted cash | (354,392) | (213,844) | |
鈥� | |||
Cash and cash equivalents, beginning of period | 561,572 | 944,073 | |
Restricted cash, beginning of period | 44,171 | 45,511 | |
Cash, cash equivalents and restricted cash, beginning of period | 605,743 | 989,584 | |
鈥� | |||
Cash and cash equivalents, end of period | 203,566 | 730,367 | |
Restricted cash, end of period | 47,785 | 45,373 | |
Cash, cash equivalents and restricted cash, end of period | $听听听听听听听听听 251,351 | $听听听听听听听听听 775,740 | |
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Ginkgo Bioworks Holdings, Inc. Segment Information (in thousands, unaudited) | ||||||
鈥� | ||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||
2025 | 2024 | 2025 | 2024 | |||
Cell Engineering | ||||||
Revenue | $听听听听听听听听听听听听听 39,134 | $听听听听听听听听听听听听听 36,205 | $听听听听听听听听听听听听听 77,364 | $听听听听听听听听听听听听听 64,094 | ||
Costs and operating expenses: | ||||||
听听 Cost of other revenue | 3,865 | 1,914 | 6,986 | 1,914 | ||
听听 Research and development | 31,065 | 84,113 | 79,735 | 166,011 | ||
听听 General and administrative | 14,141 | 33,202 | 32,168 | 71,446 | ||
Cell Engineering operating loss | (9,937) | (83,024) | (41,525) | (175,277) | ||
Biosecurity | ||||||
Revenue | 10,470 | 20,001 | 20,558 | 30,056 | ||
Costs and operating expenses: | ||||||
听听 Cost of Biosecurity revenue | 8,583 | 11,807 | 15,806 | 21,009 | ||
听听 Research and development | 鈥� | 458 | 鈥� | 578 | ||
听听 General and administrative | 6,702 | 11,179 | 14,751 | 23,130 | ||
Biosecurity operating loss | (4,815) | (3,443) | (9,999) | (14,661) | ||
Total segment operating loss | (14,752) | (86,467) | (51,524) | (189,938) | ||
Reconciling items to reconcile total segment operating loss to loss before income taxes: | ||||||
Stock-based compensation (1) | 22,526 | 38,226 | 43,326 | 80,623 | ||
Goodwill impairment | 鈥� | 47,858 | 鈥� | 47,858 | ||
Depreciation and amortization | 15,793 | 17,330 | 31,159 | 30,199 | ||
Restructuring charges (2) | 3,674 | 17,066 | 8,947 | 17,066 | ||
Carrying cost of excess space (net of sublease income) (3) | 12,413 | 7,383 | 24,088 | 7,383 | ||
Merger and acquisition related expense (income) (4) | (3,617) | 4,512 | (4,535) | 6,906 | ||
Acquired in-process research and development | 鈥� | 2,978 | 鈥� | 19,849 | ||
Other (income) expense, net (5) | (4,958) | (4,829) | (3,057) | (16,951) | ||
Loss before income taxes | $听听听听听听听听听听听听 (60,583) | $听听听听听听听听听听 (216,991) | $听听听听听听听听听听 (151,452) | $听听听听听听听听听听 (382,871) | ||
鈥� | |
(1) | Includes |
鈥� | |
(2) | See Note 3, Restructuring, for composition of costs. |
鈥� | |
(3) | The carrying cost of excess space includes base rent, common area maintenance charges, and real estate taxes associated with facilities the Company is not occupying, net of any sublease income from these spaces. |
鈥� | |
(4) | Represents transaction and integration costs directly related to mergers and acquisitions, including: (i) legal, consulting, and accounting fees associated with acquisitions; (ii) post-acquisition employee retention bonuses; (iii) (gain)/loss from changes in the fair value of contingent consideration liabilities resulting from acquisitions; and (iv) costs associated with the Zymergen Bankruptcy, as well as securities litigation costs. |
鈥� | |
(5) | Includes interest income, interest expense, loss on investments, changes in fair value of certain assets and liabilities, and other gains and losses. |
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Ginkgo Bioworks Holdings, Inc. Selected Non-GAAP Financial Measures (in thousands, unaudited) | |||||||
鈥� | |||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||
(in thousands) | 2025 | 2024 | 2025 | 2024 | |||
Net loss (1) | $听听听听听听听听 (60,300) | $听听听听听听 (217,181) | $听听听听听听 (151,257) | $听听听听听听 (383,092) | |||
Interest income, net | (6,083) | (10,313) | (12,164) | (22,024) | |||
Income tax (benefit) expense | (283) | 190 | (195) | 221 | |||
Depreciation and amortization | 15,793 | 17,330 | 31,159 | 30,199 | |||
EBITDA | (50,873) | (209,974) | (132,457) | (374,696) | |||
Stock-based compensation (2) | 22,526 | 38,226 | 43,326 | 80,623 | |||
Goodwill impairment | 鈥� | 47,858 | 鈥� | 47,858 | |||
Restructuring charges (3) | 3,674 | 17,066 | 8,947 | 17,066 | |||
Merger and acquisition related expense (income) (4) | (3,617) | 4,512 | (4,535) | 6,906 | |||
Loss on investments | 229 | 6,826 | 3,922 | 9,370 | |||
Change in fair value of warrant liabilities | 鈥� | (3,233) | 鈥� | (4,173) | |||
Change in fair value of convertible notes | 鈥� | (480) | 5,285 | 846 | |||
Adjusted EBITDA | $听听听听听听听听 (28,061) | $听听听听听听听听 (99,199) | $听听听听听听听听 (75,512) | $听听听听听听 (216,200) | |||
鈥� | |
(1) | All periods include non-cash revenue when earned, including |
鈥� | |
(2) | Includes |
鈥� | |
(3) | Restructuring charges primarily consist of employee termination costs from the reduction in force commenced in June 2024. |
鈥� | |
(4) | Represents transaction and integration costs directly related to mergers and acquisitions, including: (i) legal, consulting, and accounting fees associated with acquisitions; (ii) post-acquisition employee retention bonuses; (iii) (gain)/loss from changes in the fair value of contingent consideration liabilities resulting from acquisitions; and (iv) costs associated with the Zymergen Bankruptcy, as well as securities litigation costs. Not included in this adjustment are acquired in-process research and development expenses, which totaled zero and |
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