Financial Performance - Ginkgo's Q3 2025 total revenue was $39 million, a decrease of 56% year-over-year compared to $89 million in Q3 2024[34] - Cell Engineering revenue in Q3 2025 was $29 million, a 61% decrease compared to $75 million in Q3 2024, which includes $45 million of non-cash deferred revenue from Motif[23, 34] - Biosecurity revenue in Q3 2025 was $9 million, a 32% decrease compared to $14 million in Q3 2024[34] - Total Adjusted EBITDA for Q3 2025 was $(56) million, compared to $(20) million in Q3 2024[34] - Ginkgo reaffirms its full year 2025 total revenue guidance of $167-187 million[43] - Ginkgo's cash, cash equivalents, and marketable securities remain strong at $462 million as of Q3 2025[17] - Quarterly cash burn continues to improve, with a 73% decrease from the prior quarter[14] Strategic Focus - Ginkgo is expanding its business model into life science tools and services[54, 96] - Ginkgo believes AI models will impact biotechnology in two ways and is well-positioned to provide tools in both[48, 51, 93, 115] - Ginkgo continues to offer research solutions on top of its in-house robotics, winning new deals in Agriculture and with the US Government[49, 52, 94, 116] - Ginkgo is expanding its frontier autonomous lab in Boston as a showcase[50, 53, 95, 117, 118]

Revenue Generation - Ginkgo's revenue is generated primarily through cell engineering services, with a focus on license and collaboration agreements for engineered organisms [170]. - Ginkgo's cell engineering revenue includes transactions with Platform Ventures and Legacy Structured Partnerships, involving upfront non-cash consideration and R&D services [174]. - Total revenue for the nine months ended September 30, 2025, was $136.8 million, compared to $183.2 million for the same period in 2024, reflecting a decrease of $46.4 million [196]. - Cell Engineering revenue for Q3 2025 was $29.4 million, down from $75.1 million in Q3 2024, a decrease of $45.7 million, largely due to the recognition of $45.4 million in non-cash revenue from a terminated contract in Q3 2024 [197]. - Biosecurity revenue for Q3 2025 was $9.5 million, down from $14.0 million in Q3 2024, a decrease of $4.5 million, primarily due to lower revenue from U.S. government programs [201]. Expenses and Cost Management - R&D expenses decreased in the first half of 2025 compared to the first half of 2024, attributed to a restructuring plan initiated in Q2 2024 [181]. - The company expects R&D expenses to stabilize or decline in 2025, depending on technology advances and market penetration [181]. - General and Administrative (G&A) expenses were lower in the first half of 2025 compared to the first half of 2024, primarily due to a restructuring plan initiated in Q2 2024, with expectations for G&A expenses to remain consistent or decline in 2025 [183]. - Research and development expenses decreased to $69.4 million for the three months ended September 30, 2025, down from $77.0 million in 2024, a reduction of 10.0% [209]. - General and administrative expenses were $45.0 million for the three months ended September 30, 2025, down from $52.3 million in 2024, a decrease of 13.9% [211]. - The company recorded restructuring charges of $10.7 million for the nine months ended September 30, 2025, down from $20.0 million in 2024, a decrease of 46.5% [214]. Financial Performance - The net loss for Q3 2025 was $80.8 million, compared to a net loss of $56.4 million in Q3 2024, an increase in loss of $24.4 million [196]. - The company reported a net loss of $232.0 million for the nine months ended September 30, 2025, with non-cash charges of $129.1 million [233]. - Interest income, net for Q3 2025 was $5.7 million, down from $9.3 million in Q3 2024, a decrease of $3.5 million [196]. - Interest income, net for the nine months ended September 30, 2025, was $17.9 million, compared to $31.3 million in 2024, a decrease of 42.5% [217]. - Gain on investments was $3.7 million for the three months ended September 30, 2025, compared to a loss of $6.9 million in 2024 [218]. Cash Flow and Liquidity - As of September 30, 2025, the company had cash and cash equivalents and marketable securities totaling $461.9 million, expected to fund operations for at least the next 12 months [230]. - For the nine months ended September 30, 2025, net cash used in operating activities was $123.4 million, compared to $277.2 million for the same period in 2024 [232]. - Cash used in investing activities for the nine months ended September 30, 2025, was $335.4 million, primarily due to purchases of marketable debt securities totaling $401.8 million [237]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $9.6 million, mainly from an ATM offering [239]. - As of September 30, 2025, the company had cash equivalents and marketable debt securities totaling $419.6 million [242]. Strategic Initiatives - In Q3 2024, Ginkgo launched new cell engineering tools, including Datapoints and lab automation solutions, aimed at providing large biological datasets for AI model training [173]. - The Foundry and Codebase are key components of Ginkgo's platform, enhancing laboratory automation and data generation capabilities [155]. - Ginkgo's automation solutions, including Reconfigurable Automation Cart systems, enable high throughput experimentation and are expected to resolve 80-90% of system errors remotely [161]. - The company aims to build a robust early warning system for biological threats as part of its biosecurity mission [162]. - The company plans to continue R&D activities and potentially acquire companies or assets to advance its objectives [234]. Market Conditions - Inflation has not had a material effect on the company's financial condition or results of operations during the reported periods [244]. - The company anticipates expenditures will exceed revenue for at least the next 12 months [232].

Revenue Performance - Total revenue for Q3 2025 was $39 million, a decrease of 56% compared to $89 million in the same period last year, primarily due to a $45 million non-cash revenue release in the prior year[5] - Cell Engineering revenue in Q3 2025 was $29 million, down 61% from $75 million in the prior year, with a similar non-cash revenue impact[5] - Biosecurity revenue for Q3 2025 was $9 million, compared to $14 million in the same period last year[5] - Total revenue for the three months ended September 30, 2025, was $38,837,000, a decrease of 56.4% compared to $89,046,000 for the same period in 2024[19] - Cell Engineering revenue decreased to $29,380,000 in Q3 2025 from $75,089,000 in Q3 2024, representing a decline of 60.8%[27] - Biosecurity revenue for the three months ended September 30, 2025, was $9,457,000, down 32.4% from $13,957,000 in Q3 2024[27] Financial Losses - GAAP net loss for Q3 2025 was $(81) million, compared to $(56) million in the prior year[5] - The net loss for the three months ended September 30, 2025, was $80,755,000, compared to a net loss of $56,403,000 for the same period in 2024, indicating a worsening of 43.0%[19] - The company reported a basic net loss per share of $1.45 for Q3 2025, compared to a loss of $1.08 per share in Q3 2024[19] - Net loss for the nine months ended September 30, 2025, was $232,012 thousand, compared to a loss of $439,495 thousand for the same period in 2024, representing a 47% improvement[32] - The company incurred total segment operating losses of $41,616,000 for Q3 2025, compared to $11,363,000 in Q3 2024, indicating a significant increase in losses[27] Cash and Cash Equivalents - Cash, cash equivalents, and marketable securities as of September 30, 2025, totaled $462 million[5] - Cash and cash equivalents at the end of the period were $111,065,000, down from $616,214,000 at the end of Q3 2024, reflecting a decrease of 82.0%[24] - Net cash used in operating activities for the nine months ended September 30, 2025, was $123,381,000, compared to $277,150,000 for the same period in 2024[23] Operating Expenses - Total operating expenses for the three months ended September 30, 2025, were $128,854,000, a reduction of 10.6% compared to $144,250,000 in Q3 2024[19] - Research and development expenses for the three months ended September 30, 2025, were $69,353,000, down from $77,006,000 in Q3 2024, a decrease of 9.5%[19] Future Projections - Ginkgo expects total revenue for 2025 to be between $167 million and $187 million, with Cell Engineering revenue projected at $117 million to $137 million and Biosecurity revenue at least $40 million[11] Strategic Initiatives - Ginkgo announced a project agreement with BARDA valued at up to $22.2 million for innovations in monoclonal antibody biomanufacturing[5] - The company is expanding its frontier autonomous lab in Boston as a showcase for its capabilities[5] - Ginkgo's AI-enabled cloud lab technology is positioned to accelerate U.S. scientific innovation, aligning with the recent AI Action Plan from President Trump[3] Adjusted Financial Metrics - Adjusted EBITDA for Q3 2025 was $(56) million, down from $(20) million in the prior year[5] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(131,219) thousand, an improvement from $(236,216) thousand in 2024, indicating a 44% reduction in losses[32] Other Financial Metrics - Stock-based compensation increased to $61,429 thousand for the nine months ended September 30, 2025, compared to $94,636 thousand in 2024, reflecting a 35% decrease[32] - Restructuring charges for the nine months ended September 30, 2025, totaled $10,692 thousand, down from $20,015 thousand in 2024, marking a 47% reduction[32] - Interest income, net, decreased to $(17,906) thousand for the nine months ended September 30, 2025, from $(31,275) thousand in 2024, a decline of 43%[32] - Depreciation and amortization expenses for the nine months ended September 30, 2025, were $45,327 thousand, slightly down from $47,368 thousand in 2024, a decrease of 4%[32] - The company recognized $7.5 million in non-cash revenue during the nine months ended September 30, 2025, due to the release of deferred revenue from a customer agreement[32] - Merger and acquisition-related expenses for the nine months ended September 30, 2025, were $(4,478) thousand, compared to $6,110 thousand in 2024, indicating a significant change in expenses[32] - The company reported a loss on deconsolidation of a subsidiary amounting to $7,013 thousand for the nine months ended September 30, 2024[32] - Change in fair value of convertible notes resulted in a gain of $5,685 thousand for the nine months ended September 30, 2025, compared to a gain of $1,127 thousand in 2024[32]

Core Insights - Ginkgo Bioworks has been awarded a contract valued at up to $22.2 million by BARDA to develop innovations for the biomanufacturing of monoclonal antibodies (mAbs) aimed at combating filoviruses like Ebola and Sudan viruses [2][4] Group 1: Project Overview - The project aims to produce an anti-filovirus mAbs cocktail, specifically 1C3 and 1C11, which were discovered and developed by Emory University [2] - Ginkgo will lead a consortium that includes Advanced BioScience Laboratories (ABL), Isolere Bio by Donaldson, NeuImmune, Inc., and ProteoNic BV to enhance the entire mAb production process [2][3] Group 2: Importance and Goals - The initiative is crucial for national biosecurity and public health preparedness, emphasizing the need for rapidly scalable and cost-effective mAb manufacturing [3] - The collaboration aims to protect the U.S. population from high-threat pathogens, with a focus on developing effective medical countermeasures against filoviral infections [3] Group 3: Partner Contributions - ABL will provide product production capabilities, aiming to redefine efficacy standards against infectious diseases [3] - Isolere Bio by Donaldson will contribute to bioprocessing solutions that enhance efficiency and reduce costs for essential medicines [3] - NeuImmune will leverage its proprietary geCHO BioDesign platform to advance novel antibodies for treating filoviral infections [3] - ProteoNic will utilize its 2G UNic® vector technology to develop an efficient production process for the mAbs [3] Group 4: Background and Funding - This project builds on Ginkgo Bioworks' history of collaboration with the U.S. government in synthetic biology and biomanufacturing innovation [4] - The funding for this initiative comes from federal sources, specifically the U.S. Department of Health and Human Services and BARDA [4]

Core Insights - Ginkgo Bioworks has extended its strategic partnership with Bayer to enhance research and development of biological products for agriculture, building on their collaboration that began in 2017 [1][2] - The partnership focuses on innovative microbial nitrogen fixation, with Bayer retaining commercialization rights for the resulting products as alternatives to synthetic fertilizers [1][2] Company Developments - Ginkgo Bioworks is expanding its agricultural biologicals platform, which includes a dedicated R&D site in West Sacramento, aimed at biological crop protection, nitrogen fixation, and carbon sequestration [2] - The company is committed to developing advanced biological solutions that address diverse market needs across various crops and geographies [3][4] Industry Context - Bayer emphasizes the importance of collaboration with innovators to tackle future agricultural challenges, suggesting that biological solutions can complement traditional chemical methods [3] - Ginkgo Bioworks aims to enhance food production and security globally through its innovative biological tools and partnerships [4]

Core Points - Ginkgo Bioworks Holdings, Inc. plans to host a presentation and Q&A session on November 6, 2025, to review its business performance for Q3 2025 [1][2] - The presentation will be accessible via Ginkgo's investor relations website, and a replay will be available afterward [2] - Ginkgo Bioworks focuses on making biology easier to engineer, offering customizable R&D solutions, laboratory automation, and biosecurity technologies [3] Company Overview - Ginkgo Bioworks builds tools for biological engineering, providing R&D packages that include protein engineering and nucleic acid design [3] - The company also offers modular laboratory automation to enhance scientists' productivity [3] - Ginkgo Biosecurity is developing infrastructure to address biological threats globally [3]

Core Viewpoint - Ginkgo Bioworks Holdings, Inc. is experiencing a decline in stock performance and is facing significant challenges in its upcoming financial results, with expectations of decreased earnings and revenue compared to the previous year [1][2][3]. Company Performance - The stock closed at $12.74, reflecting a -4.85% change from the previous day, underperforming against the S&P 500's gain of 0.23% [1]. - Over the past month, the stock has increased by 1.21%, which is lower than the Medical sector's gain of 5.57% and the S&P 500's gain of 3.57% [1]. Upcoming Financial Results - The projected EPS for the upcoming release is -$1.24, indicating a 14.81% decline compared to the same quarter last year [2]. - The consensus estimate for quarterly revenue is $39 million, down 56.2% from the year-ago period [2]. Full-Year Estimates - The full-year Zacks Consensus Estimates predict earnings of -$5.27 per share and revenue of $181 million, representing year-over-year changes of +49.13% for earnings and -20.28% for revenue [3]. Analyst Estimates and Market Sentiment - Recent changes to analyst estimates reflect shifting business dynamics, with upward revisions indicating analysts' positive outlook on the company's operations [4]. - The Zacks Rank system, which assesses these estimate changes, currently ranks Ginkgo Bioworks Holdings, Inc. at 3 (Hold) [6]. Industry Context - Ginkgo Bioworks operates within the Medical - Biomedical and Genetics industry, which holds a Zacks Industry Rank of 89, placing it in the top 37% of over 250 industries [7]. - Research indicates that higher-ranked industries tend to outperform lower-ranked ones by a factor of 2 to 1 [7].

Core Insights - Genenta Science and ANEMOCYTE have announced a strategic collaboration focusing on off-the-shelf lentiviral vector (LVV) Plasmid DNA technology, expanding their existing partnership in plasmid DNA production [1][3] - The collaboration aims to leverage Genenta's established LVV Plasmid DNA technology, enhancing ANEMOCYTE's offerings to clients by providing high-quality materials from R&D to GMP grade [2][3] - This partnership signifies a commitment to supporting the life science industry with innovative solutions, ensuring clients have access to a reliable platform for advanced therapy programs [3] Company Profiles - Genenta Science is a clinical-stage immuno-oncology company developing a proprietary hematopoietic stem cell therapy for various solid tumor cancers, with its first-in-class product candidate, Temferon™, designed to express immune-therapeutic payloads within the tumor microenvironment [5] - ANEMOCYTE is a Biotech Manufacturing Organization based in Italy, specializing in the development and manufacturing of pDNA and mRNA, with over 25 years of expertise in innovative therapies [4]

Core Viewpoint - Ginkgo Bioworks Holdings, Inc. is experiencing a decline in stock price and is expected to report significant losses in its upcoming financial results, indicating potential challenges ahead for the company [1][2]. Financial Performance - The company closed at $12.78, reflecting a -2.67% change from the previous day, which is worse than the S&P 500's loss of 0.53% [1]. - Anticipated EPS for the upcoming release is -$1.24, a decrease of 14.81% compared to the same quarter last year [2]. - Projected revenue for the upcoming quarter is $39 million, down 56.2% from the year-ago period [2]. - For the full year, the consensus estimates project an EPS of -$5.27 and revenue of $181 million, showing changes of +49.13% and -20.28% respectively from the previous year [3]. Analyst Estimates - Recent adjustments to analyst estimates for Ginkgo Bioworks may reflect changing business dynamics, with positive revisions indicating analyst optimism [4]. - The Zacks Rank system, which assesses these estimate changes, currently ranks Ginkgo Bioworks at 3 (Hold), with no changes in EPS projections over the past 30 days [6]. Industry Context - Ginkgo Bioworks operates within the Medical - Biomedical and Genetics industry, which has a Zacks Industry Rank of 92, placing it in the top 38% of over 250 industries [7]. - The top 50% rated industries are shown to outperform the bottom half by a factor of 2 to 1, indicating a competitive environment for the company [7].

Core Insights - INOVIO announced results from a Phase 1 trial evaluating DNA-encoded monoclonal antibodies (DMAbs) for COVID-19, published in Nature Medicine, demonstrating the potential of DMAbs as a long-acting alternative to traditional monoclonal antibody delivery [1][2][4] Phase 1 Trial Summary - The trial involved 39 participants, all of whom maintained biologically relevant levels of DMAbs through a 72-week follow-up, confirming the durability of in vivo antibody production [2][4] - DMAbs successfully bound to the SARS-CoV-2 Spike protein and neutralized the SARS-CoV-2 pseudovirus in all tested participants, confirming functional activity [2][7] - No participants developed anti-drug antibodies (ADA), a common issue in other gene-based delivery platforms, and the DMAbs were well tolerated with mild, temporary injection site reactions being the most common side effects [2][4][7] Technology and Methodology - The trial utilized synthetic DNA technology to enable in vivo production of monoclonal antibodies directly from muscle cells, delivered via INOVIO's CELLECTRA 2000 electroporation device [3][5] - The study was an open-label, single-center, dose-escalation trial, with primary endpoints focused on safety and pharmacokinetics [4] Results and Observations - DMAbs were detected in 100% of evaluable participants, with serum concentrations peaking at 1.61 g/mL, and sustained expression was observed throughout the follow-up period [4][7] - The most common side effects were mild, temporary injection site reactions, and there were three serious adverse events (SAEs) reported, all deemed unrelated to the study product [4][7] Company Overview - INOVIO is a biotechnology company focused on developing and commercializing DNA medicines aimed at treating HPV-related diseases, cancer, and infectious diseases [6][8] - The company's DNA medicines platform includes precisely designed DNA plasmids and proprietary delivery devices, optimizing the design and delivery of innovative DNA medicines [5][8]