[Executive Summary & Q2 2025 Highlights](index=1&type=section&id=1.%20Executive%20Summary%20%26%20Q2%202025%20Highlights) [Second Quarter 2025 Financial Performance](index=1&type=section&id=1.1.%20Second%20Quarter%202025%20Financial%20Performance) Ginkgo Bioworks reported a decrease in total revenue for Q2 2025 compared to the prior year, primarily due to a significant drop in Biosecurity revenue, while Cell Engineering revenue increased by 8%, and the company significantly reduced its GAAP net loss and improved Adjusted EBITDA | Metric | Q2 2025 (in millions) | Q2 2024 (in millions) | Change (YoY) | | :----------------------- | :-------------------- | :-------------------- | :----------- | | Total Revenue | $50 | $56 | -10.7% | | Cell Engineering Revenue | $39 | $36 | +8.3% | | Biosecurity Revenue | $10 | $20 | -50.0% | | GAAP Net Loss | $(60) | $(217) | Improved | | Adjusted EBITDA | $(28) | $(99) | Improved | - Cash, cash equivalents, and marketable securities stood at **$474 million** as of June 30, 2025[6](index=6&type=chunk) [Recent Business Highlights & Strategic Positioning](index=1&type=section&id=1.2.%20Recent%20Business%20Highlights%20%26%20Strategic%20Positioning) Ginkgo's platform is increasingly recognized as a critical engine for AI in biology, driving commercial traction through new government contracts and expanded biopharma service offerings, reinforcing its position in preclinical R&D and direct-to-scientist solutions - Ginkgo's Automation and Datapoints offerings are establishing themselves as critical tools in AI-powered bioengineering[6](index=6&type=chunk) - Pacific Northwest National Laboratory (PNNL) selected Ginkgo Automation to deliver a state-of-the-art automated anaerobic phenotyping platform[6](index=6&type=chunk) - Ginkgo launched a new in vitro ADME profiling Service, built on its proprietary RAC automation system, designed for scale, efficiency, and cost-effective assay quality[6](index=6&type=chunk) - Ginkgo launched its first direct-to-scientist product: an E. coli-based cell-free protein synthesis system optimized for high production and automation compatibility[6](index=6&type=chunk) [Full Year 2025 Outlook](index=1&type=section&id=1.3.%20Full%20Year%202025%20Outlook) Ginkgo achieved its annualized cost reduction target ahead of schedule and reaffirms its full-year 2025 revenue guidance, while continuing to work towards Adjusted EBITDA breakeven by the end of 2026 - Ginkgo achieved its target to reach **$250 million** in annualized cost reduction three months ahead of schedule through reductions in force and other cost-cutting measures[6](index=6&type=chunk) - Ginkgo reaffirms Total revenue guidance of **$167-$187 million** for 2025[6](index=6&type=chunk) - The company expects Cell Engineering revenue of **$117-$137 million** and Biosecurity revenue of at least **$40 million** in 2025[6](index=6&type=chunk) - Ginkgo continues to progress towards its objective to reach Adjusted EBITDA breakeven by the end of 2026[6](index=6&type=chunk) [Company Information & Disclosures](index=2&type=section&id=2.%20Company%20Information%20%26%20Disclosures) [Conference Call Details](index=2&type=section&id=2.1.%20Conference%20Call%20Details) Ginkgo Bioworks scheduled a videoconference for August 7, 2025, to discuss its second-quarter results, business updates, and outlook, including a Q&A session - Ginkgo will host a videoconference on Thursday, August 7, 2025, at 5:30 p.m. ET, with a webcast link available on its Investor Relations website[7](index=7&type=chunk)[8](index=8&type=chunk) [About Ginkgo Bioworks](index=2&type=section&id=2.2.%20About%20Ginkgo%20Bioworks) Ginkgo Bioworks is a platform company focused on making biology easier to engineer, offering R&D solutions, laboratory automation, data generation for AI models, and biosecurity infrastructure - Ginkgo Bioworks provides R&D Solutions (protein engineering, nucleic acid design, cell-free systems), Ginkgo Automation (modular lab automation), Ginkgo Datapoints (large lab data sets for AI), and Ginkgo Biosecurity (infrastructure for biological threats)[10](index=10&type=chunk) [Forward-Looking Statements](index=2&type=section&id=2.3.%20Forward-Looking%20Statements) The report contains forward-looking statements regarding future plans, operations, and financial results, which are subject to various risks and uncertainties that could cause actual outcomes to differ materially - Forward-looking statements in the press release, presentation, and conference call are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially[11](index=11&type=chunk)[13](index=13&type=chunk) - Key risks include the ability to realize cost savings from site consolidation, volatility in securities prices, demand for synthetic biology products and biosecurity services, and outcomes of legal proceedings[13](index=13&type=chunk) [Use of Non-GAAP Financial Measures](index=3&type=section&id=2.4.%20Use%20of%20Non-GAAP%20Financial%20Measures) Ginkgo includes non-GAAP financial measures, such as Adjusted EBITDA, to offer investors additional tools for evaluating financial performance, emphasizing that these should be considered supplemental to, not isolated from, GAAP measures - Non-GAAP financial measures, including Adjusted EBITDA, are provided as an additional tool for investors but should not be considered in isolation or as an alternative to GAAP measures[14](index=14&type=chunk) [Investor & Media Contacts](index=3&type=section&id=2.5.%20Investor%20%26%20Media%20Contacts) Contact information is provided for investor relations and media inquiries - Investor inquiries can be directed to investors@ginkgobioworks.com, and media inquiries to press@ginkgobioworks.com[15](index=15&type=chunk) [Condensed Consolidated Financial Statements](index=4&type=section&id=3.%20Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Balance Sheets](index=4&type=section&id=3.1.%20Condensed%20Consolidated%20Balance%20Sheets) The balance sheet shows a decrease in total assets and stockholders' equity from December 31, 2024, to June 30, 2025, primarily driven by a reduction in cash and cash equivalents, partially offset by an increase in marketable securities | Metric (in thousands) | As of June 30, 2025 | As of December 31, 2024 | | :-------------------------- | :------------------ | :---------------------- | | Total Assets | $1,231,009 | $1,377,449 | | Total Liabilities | $618,057 | $661,391 | | Total Stockholders' Equity | $612,952 | $716,058 | | Cash and cash equivalents | $203,566 | $561,572 | | Marketable securities | $270,125 | — | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=7&type=section&id=3.2.%20Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For the three and six months ended June 30, 2025, Ginkgo reported a significant reduction in net loss and loss from operations compared to the prior year periods, despite a slight decrease in total revenue for the quarter, largely due to reduced operating expenses, particularly in research and development and general and administrative costs | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total revenue | $49,604 | $56,206 | $97,922 | $94,150 | | Loss from operations | $(65,541) | $(222,945) | $(154,509) | $(400,947) | | Net loss | $(60,300) | $(217,181) | $(151,257) | $(383,092) | | Basic Net loss per share | $(1.10) | $(4.23) | $(2.77) | $(7.55) | | Diluted Net loss per share | $(1.10) | $(4.23) | $(2.77) | $(7.56) | - Research and development expenses decreased significantly from **$134.221 million** in Q2 2024 to **$53.370 million** in Q2 2025[19](index=19&type=chunk) - General and administrative expenses also saw a notable reduction from **$66.285 million** in Q2 2024 to **$43.279 million** in Q2 2025[19](index=19&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=3.3.%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash used in operating activities decreased, but net cash used in investing activities increased substantially due to significant purchases of marketable debt securities, resulting in a larger overall net decrease in cash and cash equivalents compared to the prior year | Cash Flow Activity (in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | | Net cash used in operating activities | $(91,775) | $(173,649) | | Net cash used in investing activities | $(262,572) | $(38,951) | | Net cash used in financing activities | $(305) | $(1,071) | | Net decrease in cash, cash equivalents and restricted cash | $(354,392) | $(213,844) | | Cash, cash equivalents and restricted cash, end of period | $251,351 | $775,740 | - Purchases of marketable debt securities totaled **$320.132 million** for the six months ended June 30, 2025, compared to none in the prior year period[22](index=22&type=chunk) [Segment Information](index=12&type=section&id=4.%20Segment%20Information) Ginkgo's segment reporting shows that Cell Engineering revenue increased while Biosecurity revenue decreased for both the three and six months ended June 30, 2025, with both segments continuing to report operating losses, though Cell Engineering significantly reduced its loss year-over-year | Segment (in thousands) | Q2 2025 Revenue | Q2 2024 Revenue | 6M 2025 Revenue | 6M 2024 Revenue | | :--------------------- | :-------------- | :-------------- | :-------------- | :-------------- | | Cell Engineering | $39,134 | $36,205 | $77,364 | $64,094 | | Biosecurity | $10,470 | $20,001 | $20,558 | $30,056 | | **Operating Loss** | | | | | | Cell Engineering | $(9,937) | $(83,024) | $(41,525) | $(175,277) | | Biosecurity | $(4,815) | $(3,443) | $(9,999) | $(14,661) | - Cell Engineering operating loss significantly improved from **$(83.024) million** in Q2 2024 to **$(9.937) million** in Q2 2025[25](index=25&type=chunk) - Restructuring charges for Q2 2025 were **$3.674 million**, a substantial decrease from **$17.066 million** in Q2 2024, primarily consisting of employee termination costs[25](index=25&type=chunk)[31](index=31&type=chunk) [Selected Non-GAAP Financial Measures Reconciliation](index=14&type=section&id=5.%20Selected%20Non-GAAP%20Financial%20Measures%20Reconciliation) The reconciliation of GAAP net loss to Adjusted EBITDA demonstrates a significant improvement in Adjusted EBITDA for both the three and six months ended June 30, 2025, compared to the prior year periods, reflecting the impact of cost reduction efforts and other adjustments | Metric (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net loss | $(60,300) | $(217,181) | $(151,257) | $(383,092) | | Adjusted EBITDA | $(28,061) | $(99,199) | $(75,512) | $(216,200) | - Adjusted EBITDA improved by **$71.138 million** for the three months ended June 30, 2025, and by **$140.688 million** for the six months ended June 30, 2025, compared to the respective prior year periods[30](index=30&type=chunk) - Adjustments to Net Loss for Adjusted EBITDA include significant reductions in stock-based compensation and the absence of goodwill impairment charges in 2025, which were present in 2024[30](index=30&type=chunk)

Core Insights - Ginkgo Bioworks has achieved its $250 million annualized cost-reduction goal three months ahead of schedule, driven by financial discipline and restructuring efforts [2][9][24] - The company reported a total revenue of $50 million for Q2 2025, a decrease from $56 million in the same period last year, with notable growth in Cell Engineering revenue [9][15] - Ginkgo's strategic positioning includes expanding its service offerings in response to increasing demand in the biopharma industry and securing major government contracts [2][9] Financial Performance - Total revenue for Q2 2025 was $50 million, down from $56 million in Q2 2024 [9] - Cell Engineering revenue increased to $39 million, up 8% from $36 million in the prior year [9] - Biosecurity revenue decreased to $10 million, down from $20 million in the comparable prior year period [9] - GAAP net loss for Q2 2025 was $(60) million, significantly improved from $(217) million in Q2 2024 [9] - Adjusted EBITDA improved to $(28) million from $(99) million in the prior year [9] Business Highlights - Ginkgo's Automation and Datapoints offerings are becoming essential tools in AI-powered bioengineering [9] - The company launched a new in vitro ADME profiling service, enhancing its capabilities in preclinical R&D analytical services [9] - Ginkgo introduced its first direct-to-scientist product, a cell-free protein synthesis system optimized for high production [9] Outlook - Ginkgo reaffirms its total revenue guidance for 2025 to be between $167 million and $187 million [9] - The company expects Cell Engineering revenue to be between $117 million and $137 million in 2025 [9] - Biosecurity revenue is projected to be at least $40 million in 2025 [9]

Company Overview - Ginkgo Bioworks is focused on building a leading platform for cell programming and biosecurity [1] - The company offers customizable R&D packages, including protein engineering and nucleic acid design, to accelerate innovation in therapeutics, diagnostics, and manufacturing [3] - Ginkgo Automation provides modular laboratory automation solutions to enhance scientific productivity [3] - Ginkgo Biosecurity is developing next-generation infrastructure and technologies to address biological threats [3] Upcoming Events - Ginkgo Bioworks will host a presentation and Q&A session on August 7, 2025, to review its business performance for Q2 2025 [1] - The session will begin at 5:30 p.m. ET and will be available via webcast on the company's investor relations website [2] - Questions can be submitted in advance through social media or email [2]

Core Insights - Ginkgo Bioworks has been selected by the Environmental Molecular Sciences Laboratory (EMSL) to deliver an automated anaerobic phenotyping platform, marking a significant advancement in biological research and bioeconomy leadership [1][6] - The contract, valued at $4.66 million, involves constructing a fully integrated workcell with 18 devices within a modular anaerobic chamber, designed to enhance laboratory efficiency and data quality [3][4] - Ginkgo Automation's Reconfigurable Automation Cart (RAC) technology will enable remote operation of complex workflows, streamlining research processes and accelerating discovery in microbial engineering and biodesign [4][5] Company Overview - Ginkgo Bioworks focuses on making biology easier to engineer, providing customizable R&D solutions across therapeutics, diagnostics, and manufacturing [7] - The company offers modular laboratory automation systems that allow scientists to focus on planning and analyzing experiments rather than manual tasks [7] - Ginkgo's automation technology has been deployed in various labs, resulting in increased throughput, repeatability, and reduced cycle times [5][6]

Company Performance - Ginkgo Bioworks Holdings, Inc. (DNA) experienced a decline of 6.31% in its stock price, closing at $13.96, while the S&P 500 gained 0.4% [1] - Over the past month, the company's shares have increased by 55.05%, significantly outperforming the Medical sector's gain of 1.19% and the S&P 500's gain of 4.61% [1] Earnings Projections - The upcoming earnings disclosure for Ginkgo Bioworks is projected to show an earnings per share (EPS) of -$1.44, which reflects a 55% increase from the same quarter last year [2] - Revenue is estimated to be $43 million, indicating a 23.5% decrease compared to the same quarter of the previous year [2] Fiscal Year Estimates - For the entire fiscal year, Zacks Consensus Estimates predict an EPS of -$5.56 and revenue of $180 million, representing changes of +46.33% and -20.72% from the previous year, respectively [3] - Recent changes to analyst estimates for Ginkgo Bioworks are important as they indicate the evolving nature of near-term business trends, with positive revisions seen as a favorable sign for the business outlook [3] Zacks Rank and Industry Position - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a proven track record of outperformance, with 1 stocks returning an average of +25% annually since 1988 [5] - Ginkgo Bioworks currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate remaining unchanged over the last 30 days [5] Industry Overview - The Medical - Biomedical and Genetics industry, part of the Medical sector, holds a Zacks Industry Rank of 95, placing it in the top 39% of over 250 industries [6] - The strength of individual industry groups is measured by the Zacks Industry Rank, which is based on the average Zacks Rank of individual stocks, indicating that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]

Core Viewpoint - Ginkgo Bioworks has launched a cost-effective, high-throughput ADME profiling service aimed at accelerating small molecule drug discovery, with a focus on providing model-ready datasets and competitive pricing compared to international vendors [1][2][3] Company Overview - Ginkgo Bioworks is positioned as a leading platform for cell programming and biosecurity, offering integrated laboratory automation and large lab datasets to support AI model development [4] New Service Features - The new ADME profiling service is designed to enhance the drug development pipeline for small molecules, providing early access to rich ADME data that empowers researchers to prioritize candidates and train predictive models efficiently [2][6] - Key features include automated workflows, cost-effective pricing with a price match guarantee against international vendors, and rapid turnaround times to align with modern discovery cycles [6][3] Leadership Statement - Jason Kelly, co-founder and CEO of Ginkgo Bioworks, expressed confidence that the new ADME service will be transformative for drug discovery, emphasizing the company's ability to offer competitive pricing and quality through automation and scale [3]

Company Performance - Ginkgo Bioworks Holdings, Inc. (DNA) closed at $9.60, reflecting a +1.8% change from the previous day's closing price, outperforming the S&P 500's gain of 0.32% [1] - Over the past month, the company's shares have appreciated by 10.29%, contrasting with the Medical sector's decline of 3.4% and the S&P 500's increase of 4.51% [1] Upcoming Financial Results - Ginkgo Bioworks is expected to report earnings of -$1.44 per share, indicating a year-over-year growth of 55%, while revenue is projected to be $43 million, representing a 23.5% decline compared to the same quarter last year [2] - For the annual period, the Zacks Consensus Estimates predict earnings of -$5.56 per share and revenue of $180 million, reflecting changes of +46.33% and -20.72% respectively from the previous year [3] Analyst Estimates and Stock Performance - Changes in analyst estimates for Ginkgo Bioworks are crucial as they indicate shifting business trends, with positive revisions suggesting analyst optimism about profitability [3] - The Zacks Rank system, which evaluates these estimate changes, currently assigns Ginkgo Bioworks a rank of 2 (Buy), indicating a favorable outlook [5] Industry Context - Ginkgo Bioworks operates within the Medical - Biomedical and Genetics industry, which holds a Zacks Industry Rank of 83, placing it in the top 34% of over 250 industries [6] - The Zacks Industry Rank measures the strength of industry groups, with top-rated industries outperforming lower-rated ones by a factor of 2 to 1 [6]

Company Performance - Ginkgo Bioworks Holdings, Inc. (DNA) closed at $10.79, reflecting a -2.53% change from the previous day's closing price, underperforming the S&P 500's daily gain of 0.28% [1] - The stock has increased by 13.19% over the past month, outperforming the Medical sector's gain of 0.24% and the S&P 500's gain of 4.37% [1] Earnings Projections - The upcoming EPS for Ginkgo Bioworks is projected at -$1.44, indicating a 55.00% increase compared to the same quarter last year [2] - Quarterly revenue is estimated at $43 million, which is a decrease of 23.5% from the year-ago period [2] - For the entire year, the Zacks Consensus Estimates forecast earnings of -$5.56 per share and revenue of $180 million, reflecting changes of +46.33% and -20.72% respectively compared to the previous year [3] Analyst Forecasts - Recent revisions to analyst forecasts for Ginkgo Bioworks are important as they reflect short-term business trends and can indicate analyst optimism about the company's profitability [4] - The Zacks Rank system, which incorporates estimate changes, provides an actionable rating system for investors [5] - Ginkgo Bioworks currently holds a Zacks Rank of 2 (Buy), with the consensus EPS estimate remaining unchanged over the last 30 days [6] Industry Context - Ginkgo Bioworks is part of the Medical - Biomedical and Genetics industry, which has a Zacks Industry Rank of 77, placing it in the top 32% of over 250 industries [7] - The top 50% rated industries tend to outperform the bottom half by a factor of 2 to 1 [7]

Core Insights - Meta Platforms, Inc. is restructuring its AI strategy by forming a new division called Meta Superintelligence Labs, aimed at creating superintelligence that surpasses human cognitive abilities [1][5] - Alexandr Wang, the former CEO of Scale AI, has been appointed as Chief AI Officer to lead this new division, emphasizing a unified leadership approach [1][2] Strategic Investments and Talent Acquisition - Meta has made a significant investment of $14.3 billion for a 49% stake in Scale AI, securing Wang's leadership and enhancing its AI capabilities [3] - The company is actively recruiting top AI talent from industry leaders such as OpenAI, DeepMind, and Anthropic, with Zuckerberg personally involved in the recruitment process [3] Leveraging Open-Source and In-House Innovations - Meta's AI initiatives will utilize open-source Llama 3 models and proprietary MTIA chips to reduce dependence on expensive NVIDIA hardware, aiming for optimized performance and cost-efficiency [4] Vision for the Future - Zuckerberg expressed confidence in Meta's ability to deliver personal superintelligence, highlighting the company's strong business foundation and experience in reaching billions of users [5]

Company Overview - Ginkgo Bioworks Holdings, Inc. (DNA) shares increased by 18.9% to close at $11.25, with a notable trading volume compared to typical sessions, and a total gain of 36.1% over the past four weeks [1][2] Investor Sentiment - The surge in stock price is linked to positive investor expectations regarding Ginkgo's proprietary cell programming platforms, Foundry and Codebase, which are utilized in R&D services under collaboration and license agreements [2] Financial Performance Expectations - The company is projected to report a quarterly loss of $1.44 per share, reflecting a year-over-year increase of 55%, while revenues are expected to be $43 million, down 23.5% from the previous year [3] - The consensus EPS estimate for the quarter has been revised 12.1% lower over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4] Industry Context - Ginkgo Bioworks is part of the Zacks Medical - Biomedical and Genetics industry, where Novavax (NVAX) has seen a decline of 1.1% to $6.3, with a return of -13.2% over the past month [5] - Novavax's consensus EPS estimate has decreased by 46.9% over the past month to -$0.12, representing a year-over-year change of -112.1% [6]