Ginkgo Bioworks Holdings, Inc. · NYSE:DNA
Ginkgo Bioworks — Q4 2025 Earnings Presentation
59 slides from Ginkgo Bioworks's earnings presentation, Feb 26, 2026
Slide 1: Grow with Ginkgo: Q4 2025 Update & Business Review
Property of Ginkgo Bioworks — 1 Grow with Ginkgo Q4 2025 Update & Business Review Q2 2025 UPDATE & BUSINESS REVIEW February 26, 2026
Slide 2: Disclaimer
Disclaimer Property of Ginkgo Bioworks — 2 FORWARD-LOOKING STATEMENTS This presentation, 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 adapta
Slide 3: Introduction
Property of Ginkgo Bioworks — 3 Introduction Jason Kelly, Co-Founder and CEO Q4 2025 Financial Update Steve Coen, CFO Agenda Q4 2025 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Daniel Marshall, Sr. Manager of Communications and Ownership
Slide 4: Our Mission
Property of Ginkgo Bioworks — 4 OUR MISSION Make biology easier to engineer IN 2026 GINKGO WILL FOCUS AND INVEST TO WIN AUTONOMOUS LABS Focus Ginkgo's efforts on Autonomous Labs as the common platform for biotechnology research. Invest to extend our current lead in Q4 2025 UPDATE & BUSINESS REVIEW te
Slide 5: Biosecurity Divestiture
Biosecurity Divestiture Property of Ginkgo Bioworks — 5 Ginkgo has reached an agreement to sell its biosecurity business to a consortium of investors. ● During COVID, we explicitly invested and established our Biosecurity business. Biosecurity is essential as the technology to engineer biology impro
Slide 6: Our improved cash burn allows us to invest in winning
Our improved cash burn allows us to invest in winning Property of Ginkgo Bioworks — 6 Autonomous Labs (Unaudited) ANNUAL CASH BURN(1) ($M) (55)% $423M Ginkgo remains in a strong financial position Q4 2025 UPDATE & BUSINESS REVIEW with $423 million in cash, cash equivalents, and marketable securities
Slide 7: Introduction
Property of Ginkgo Bioworks — 7 Introduction Jason Kelly, Co-Founder and CEO Q4 2025 Financial Update Steve Coen, CFO Agenda Q4 2025 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Daniel Marshall, Sr. Manager of Communications and Ownership
Slide 8: Cell Engineering Highlights (Unaudited)
Cell Engineering Highlights (Unaudited) Property of Ginkgo Bioworks — 8 CELL ENGINEERING REVENUE ($M) REVENUE-GENERATING PROGRAMS (1) (4%) (26%) Q4 2025 UPDATE & BUSINESS REVIEW 1) See Appendix for description of revenue-generating programs
Slide 9: Q4 2025 Financial Summary (Unaudited)
Property of Ginkgo Bioworks — 9 Q4 2025 Financial Summary (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, In millions of USD 2025 2024 % YoY 2025 2024 % YoY Revenue: Cell Engineering ⁽¹⁾ $26 $35 (26%) $133 $174 (24%) Biosecurity 7 9 (18%) 37 53 (30%) Total revenue 33 44
Slide 10: Adjusted EBITDA (Unaudited)
Adjusted EBITDA (Unaudited) Property of Ginkgo Bioworks — 10 (1) (1) TOTAL ADJUSTED EBITDA ($M) TOTAL ADJUSTED EBITDA BY COMPONENT ($M) (25)% FY FY 2024 2025 Cell Engineering segment ($219) ($96) Biosecurity segment ($31) ($19) Q4 2025 UPDATE & BUSINESS REVIEW Unallocated: excess space + other ($43)
Slide 11: 2026 Full Year Outlook
2026 Full Year Outlook Property of Ginkgo Bioworks — 11 Historical Outlook In millions of USD FY2025 FY2026 Total cash burn ($171) ($150) - ($125) Q4 2025 UPDATE & BUSINESS REVIEW (1) References to cash burn is defined as change in GAAP cash, cash equivalents, and marketable securities excluding Comp
Slide 12: Introduction
Property of Ginkgo Bioworks — 12 Introduction Jason Kelly, Co-Founder and CEO Q4 2025 Financial Update Steve Coen, CFO Agenda Q4 2025 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Daniel Marshall, Sr. Manager of Communications and Ownership
Slide 13: Our Mission
OUR MISSION Make biology easier to engineer Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 13
Slide 14: Q4 2025 UPDATE & BUSINESS REVIEW
Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 14
Slide 15: Sources: PNNL + Synbiobeta
SOURCES: PNNL + Synbiobeta Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 15
Slide 16: Q4 2025 UPDATE & BUSINESS REVIEW
Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 16
Slide 17: We believe…
Property of Ginkgo Bioworks — 17 We believe… 1 2 3 Autonomous labs will An autonomous lab must We will sell autonomous transform biotechnology. allow a scientist to do the labs in two ways: you can same work they do in a buy RACs and build your traditional, manual own or you can buy our biotechnolog
Slide 18: We believe…
Property of Ginkgo Bioworks — 18 We believe… 1 2 3 Autonomous labs will An autonomous lab must We will sell autonomous transform biotechnology. allow a scientist to do the labs in two ways: you can same work they do in a buy RACs and build your traditional, manual own or you can buy our biotechnolog
Slide 19: Amount of Automation vs Request Flexibility
Amount of Automation Request Flexibility Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 19
Slide 20: Amount of Automation vs Request Flexibility
Amount of Automation Request Flexibility Autonomous Car Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 20
Slide 21: Autonomous Car
Property of Ginkgo Bioworks — 21 Autonomous Car Amount of Q4 2025 UPDATE & BUSINESS REVIEW Automation 99% of transportation! Request Flexibility
Slide 22: Traditional Automation
Property of Ginkgo Bioworks — 22 Traditional Automation Workcell Amount of Q4 2025 UPDATE & BUSINESS REVIEW Automation Request Flexibility
Slide 23: Traditional Automation
Property of Ginkgo Bioworks — 23 Traditional Automation Workcell Amount of Q4 2025 UPDATE & BUSINESS REVIEW Automation 95%+ of research budget! Request Flexibility
Slide 24: Ginkgo
Property of Ginkgo Bioworks — 24 Ginkgo Traditional Autonomous Automation Lab Workcell Amount of Q4 2025 UPDATE & BUSINESS REVIEW Automation Request Flexibility
Slide 25: Key Technical Question
Property of Ginkgo Bioworks — 25 Key Technical Question: How do you get both high automation and high Q4 2025 UPDATE & BUSINESS REVIEW flexibility without human hands in the lab?
Slide 26: We believe…
Property of Ginkgo Bioworks — 26 We believe… 1 2 3 Autonomous labs will An autonomous lab must We will sell autonomous transform biotechnology. allow a scientist to do the labs in two ways: you can same work they do in a buy RACs and build your traditional, manual own or you can buy our biotechnolog
Slide 27: Q4 2025 UPDATE & BUSINESS REVIEW
Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 27
Slide 28: Q4 2025 UPDATE & BUSINESS REVIEW
Property of Ginkgo Bioworks — 28 1. Pipetting liquids 2. Moving samples to different lab equipment Q4 2025 UPDATE & BUSINESS REVIEW 3. Inputting the setting on the lab equipment for your particular experiment
Slide 29: To replace traditional labs, an Autonomous lab must deliver
Property of Ginkgo Bioworks — 29 To replace traditional labs, an Autonomous lab must deliver: 1. Reliable liquid handling 2. Reliable material transport to any device 3. Parameterized control of devices 4. Support for as many devices in a single setup as you would have in a traditional lab; 50+ devi
Slide 30: To replace traditional labs, an Autonomous lab must deliver
Property of Ginkgo Bioworks — 30 To replace traditional labs, an Autonomous lab must deliver: Workcells do this today 1. Reliable liquid handling 2. Reliable material transport to any device 3. Parameterized control of devices 4. Support for as many devices in a single setup as you would have in a t
Slide 31: Q4 2025 UPDATE & BUSINESS REVIEW
Property of Ginkgo Bioworks — 31 Workcells are designed around your workflow / protocol because they assume no variability in user requests. Q4 2025 UPDATE & BUSINESS REVIEW Autonomous labs are designed around your equipment because they assume variability equal to a manual lab.
Slide 32: RACs and Ginkgo's Catalyst software stack
Property of Ginkgo Bioworks — 32 RACs (reconfigurable automation carts) and Ginkgo’s Catalyst software stack allow customers to build autonomous labs Optional HEPA Filter Dedicated robotic arm improves Lab device of choice, from reliability and any application or vendor Q4 2025 UPDATE & BUSINESS REVI
Slide 33: Q4 2025 UPDATE & BUSINESS REVIEW
Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 33
Slide 34: Q4 2025 UPDATE & BUSINESS REVIEW
Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 34
Slide 35: Q4 2025 UPDATE & BUSINESS REVIEW
Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 35
Slide 36: Q4 2025 UPDATE & BUSINESS REVIEW
Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 36
Slide 37: Autonomous labs can start small and grow big
Property of Ginkgo Bioworks — 37 Autonomous labs can start small and grow big. Linear RAC System (2-5 RACs) Q4 2025 UPDATE & BUSINESS REVIEW Closed Loop RAC System Mega RAC “One-of-Everything” (10-20 RACs) System (100+ RACs) Note: Mega RAC system is currently being designed for a real customer site
Slide 38: Come visit!!!
Come visit!!! Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 38
Slide 39: Value proposition to customers
Property of Ginkgo Bioworks — 39 Value proposition to customers: 1. Save overhead costs by closing their traditional labs 2. Increase research productivity in an age of AI where Q4 2025 UPDATE & BUSINESS REVIEW we need more data per research $ 3. Enable AI scientists to run “Lab-in-the-loop” experim
Slide 40: We believe…
Property of Ginkgo Bioworks — 40 We believe… 1 2 3 Autonomous labs will An autonomous lab must We will sell autonomous transform biotechnology. allow a scientist to do the labs in two ways: you can same work they do in a buy RACs and build your traditional, manual own or you can buy our biotechnolog
Slide 41: What is the market potential of autonomous labs?
Property of Ginkgo Bioworks — 41 What is the market potential of autonomous labs? There is a huge life science tools industry built on top of the lab bench as the dominant paradigm for general Q4 2025 UPDATE & BUSINESS REVIEW purpose work. That industry needs to be rebuilt on top of the autonomous l
Slide 42: Q4 2025 UPDATE & BUSINESS REVIEW
Property of Ginkgo Bioworks — 42 1. Build autonomous labs at customer sites. We will commercialize 2. Provide access to autonomous labs in Q4 2025 UPDATE & BUSINESS REVIEW Ginkgo’s frontier two ways: autonomous lab via “cloud lab” services
Slide 43: Ginkgo Cloud Lab Services
Property of Ginkgo Bioworks — 43 Ginkgo Cloud Lab Services 1. Solutions - Ginkgo scientists using our autonomous lab to deliver customer research outcomes. 2. Datapoints - Customer scientists using our autonomous lab to generate large amounts of data for Q4 2025 UPDATE & BUSINESS REVIEW training Bio
Slide 44: 250+ solutions partnerships in last years
Property of Ginkgo Bioworks — 44 250+ solutions partnerships in last 10 years PHARMA INDUSTRIAL BIOTECHNOLOGY AGRICULTURE LARGE COMPANIES Q4 2025 UPDATE & BUSINESS REVIEW STARTUPS Note: Logos are authentic customers (shared with permission); this is not an exhaustive list.
Slide 45: Datapoints Defined the Category of Bio-AI Data Provider
Property of Ginkgo Bioworks — 45 Datapoints Defined the Category of Bio-AI Data Provider Worked with 10 Top Pharma Customers in Its First Full Year [SCALED AUTOMATED WETLAB WORKFLOWS] [STRONG CUSTOMER DEMAND ACROSS SEGMENTS] Omics AbDev ADME Launched in Q4 2024 Generated 100,000+ Antibody datapoints
Slide 46: Datapoints is your partner for the Bio x AI era
Property of Ginkgo Bioworks — 46 Datapoints is your partner for the Bio x AI era Antibody Developability Competition Virtual Cell Pharmacology Initiative Datapoints Summit Series Data Drops Q4 2025 UPDATE & BUSINESS REVIEW
Slide 47: We will develop autonomous labs first
Property of Ginkgo Bioworks — 47 We will develop autonomous labs first because our scientists are using them every day to deliver our cloud services, speeding our development cycle. Q4 2025 UPDATE & BUSINESS REVIEW
Slide 48: Autonomous labs can be directed by human or AI scientists
by human or AI scientists Autonomous labs can be directed Q4 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 48
Slide 49: Ginkgo is the right company to bring Autonomous Labs to market
Property of Ginkgo Bioworks — 49 Ginkgo is the right company to bring Autonomous Labs to market at scale. ❏ Well-capitalized ❏ Reduced cash burn gives long runway Q4 2025 UPDATE & BUSINESS REVIEW ❏ Extensive practical experience in automating the general purpose work of biotechnology ❏ Mission-drive
Slide 50: Automation of computation
Property of Ginkgo Bioworks — 50 Automation of computation in the 1950s dramatically increased the ROI of engineers’ knowledge - leading to a massive increase in the number and value of engineering jobs. Q2 2025 UPDATE & BUSINESS REVIEW The same will be true for the automation of scientific lab work.
Slide 51: Biotechnology is tech that matters to everyone
Property of Ginkgo Bioworks — 51 Biotechnology is tech that matters to everyone. If we can unlock programming DNA like computers unlocked programming code it is the Q2 2025 UPDATE & BUSINESS REVIEW most important work humans can do. Please put down your pipettes and join us.
Slide 52: Let's grow the world we want to see
Property of Ginkgo Bioworks — 52 ____________________ Let’s grow the world Q4 2025 UPDATE & BUSINESS REVIEW we want to see jason@ginkgobioworks.com
Slide 53: Introduction
Property of Ginkgo Bioworks — 53 Introduction Jason Kelly, Co-Founder and CEO Q3 2025 Financial Update Steve Coen, CFO Agenda Q4 2025 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Daniel Marshall, Sr. Manager of Communications and Ownership
Slide 54: Appendix
APPENDIX Q2 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 54
Slide 55: Cell Engineering Revenue (Unaudited)
Cell Engineering Revenue (Unaudited) Property of Ginkgo Bioworks — 55 In millions of USD, except % of total Three Months Ended December 31, Twelve Months Ended December 31, % of 2025 % of Total 2024 % of Total 2025 % of Total 2024 Total Related Parties $0 0% $1 3% $9 7% $ 53 30% Third Parties 26 100
Slide 56: Segment Information (Unaudited)
Segment Information (Unaudited) Property of Ginkgo Bioworks — 56 Three Months Ended December 31, Twelve Months Ended December 31, In millions of USD 2025 2024 2025 2024 Cell Engineering Revenue $26 $35 $133 $174 Costs and operating expenses: Cost of other revenue 3 2 13 6 Research and development 28
Slide 57: Segment Information Footnotes
Segment Information Footnotes Property of Ginkgo Bioworks — 57 1) Includes $0.2 million and $0.1 million in employer payroll taxes for the three months ended December 31, 2025 and 2024, respectively, and $1.2 million and $3.0 million in employer payroll taxes for the twelve months ended December 31,
Slide 58: Adjusted EBITDA Reconciliation (Unaudited)
Adjusted EBITDA Reconciliation (Unaudited) Property of Ginkgo Bioworks — 58 Three Months Ended December 31, Twelve Months Ended December 31, In millions of USD 2025 2024 2025 2024 Net loss ⁽¹⁾ $ (80.8) $ (107.5) $ (312.8) $ (547.0) Interest income, net 4.7 7.2 (22.6) (38.5) Income tax expense (0.6)
Slide 59: Cash Burn Reconciliation (unaudited)
Cash Burn Reconciliation (unaudited) Property of Ginkgo Bioworks — 59 Three Months Ended December 31, Twelve Months Ended December 31, In millions of USD 2025 2024 2025 2024 Net decrease in cash, cash equivalents and restricted cash $ (38) $ (55) $ (393) $ (383) Net decrease in marketable securities
Ginkgo Bioworks Holdings — Q4 2025 Earnings Presentation on 6ix