Ginkgo Bioworks Holdings, Inc. · NYSE:DNA
Ginkgo Bioworks — Q2 2025 Earnings Presentation
54 slides from Ginkgo Bioworks's earnings presentation, Aug 7, 2025
Slide 1: Q2 2025 Update & Business Review
August 7, 2025 Business Review Grow with Ginkgo Q2 2025 Update & Q2 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 1
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 Q2 2025 Financial Update Steve Coen, CFO Agenda Q2 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 OBJECTIVES Reaching Adjusted EBITDA breakeven by the end of 2026 while maintaining a cash margin of Q2 2025 UPDATE & BUSINESS REVIEW safety Cutting costs while serving current customers Expanding from our Solutions business
Slide 5: $250M annual run rate cost savings target achieved from Q1'24 to Q2'25
$250M annual run rate cost savings target achieved from Q1’24 to Property of Ginkgo Bioworks — 5 Q2’25 (Unaudited) TOTAL ADJUSTED EBITDA ($M) (1) (3) 31% QUARTERLY CASH BURN ($M) Total Revenue (63)% Expenses (incl. Cost of Sales) Q2 2025 UPDATE & BUSINESS REVIEW (44)% Ginkgo remains in a strong finan
Slide 6: Introduction
Property of Ginkgo Bioworks — 6 Introduction Jason Kelly, Co-Founder and CEO Q2 2025 Financial Update Steve Coen, CFO Agenda Q2 2025 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Daniel Marshall, Sr. Manager of Communications and Ownership
Slide 7: Cell Engineering Highlights (Unaudited)
Cell Engineering Highlights (Unaudited) Property of Ginkgo Bioworks — 7 CELL ENGINEERING REVENUE ($M) REVENUE-GENERATING PROGRAMS (1) 8% 10% Q2 2025 UPDATE & BUSINESS REVIEW 1) See Appendix for description of revenue-generating programs
Slide 8: Biosecurity Highlights
Biosecurity Highlights Property of Ginkgo Bioworks — 8 (Unaudited) BIOSECURITY REVENUE ($M) Ginkgo HQ Boston Q2 2025 UPDATE & BUSINESS REVIEW BIOSECURITY SEGMENT GROSS MARGIN(1) 128 Countries of origin of flights sampled (65% OF NATIONS GLOBALLY) 15.4M+ 99K+ 26K+ 10 45 KEY Samples Samples Pathogen Ge
Slide 9: Q2 2025 Financial Summary (Unaudited)
Property of Ginkgo Bioworks — 9 Q2 2025 Financial Summary (Unaudited) Three Months Ended June 30, Six Months Ended June 30, In millions of USD 2025 2024 % YoY 2025 2024 % YoY Revenue: Cell Engineering ⁽¹⁾ $39 $36 8% $77 $64 21% Biosecurity 10 20 (48%) 21 30 (32%) Total revenue 50 56 (12%) 98 94 4% C
Slide 10: Ginkgo reaffirms total revenue guidance
Ginkgo reaffirms total revenue guidance Property of Ginkgo Bioworks — 10 Historical Outlook In millions of USD FY2024 FY2025 Revenue Cell Engineering $174 $117-137 Services $129 $110-130 Platform venture non-cash deferred revenue release $45 $7 Q2 2025 UPDATE & BUSINESS REVIEW Biosecurity $53 $40+ Tot
Slide 11: Introduction
Property of Ginkgo Bioworks — 11 Introduction Jason Kelly, Co-Founder and CEO Q2 2025 Financial Update Steve Coen, CFO Agenda Q2 2025 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Daniel Marshall, Sr. Manager of Communications and Ownership
Slide 12: We believe…
Property of Ginkgo Bioworks — 12 We believe… 1 2 3 Ginkgo’s continued Ginkgo’s Automation and Ginkgo launched its first restructuring execution is Datapoints continue to direct-to-scientist product: expected to drive further establish themselves as a cell-free protein improvements in cash critical to
Slide 13: We believe…
Property of Ginkgo Bioworks — 13 We believe… 1 2 3 Ginkgo’s continued Ginkgo’s Automation and Ginkgo launched its first restructuring execution is Datapoints continue to direct-to-scientist product: expected to drive further establish themselves as a cell-free protein improvements in cash critical to
Slide 14: Our goal is to reach Adjusted EBITDA breakeven by the end of 2026
Our goal is to reach Adjusted EBITDA breakeven by the end of 2026 Property of Ginkgo Bioworks — 14 (Unaudited) (1) TOTAL ADJUSTED EBITDA ($M) Q2 2025 RESULTS 2025 TARGETS 31% Total Revenue ● $39M in Cell Engineering ● $167-$187 million Total revenue Expenses revenue (guidance)(3) (incl. Cost of Sale
Slide 15: Our goal is to reach Adjusted EBITDA breakeven by the end of 2026
Our goal is to reach Adjusted EBITDA breakeven by the end of 2026 Property of Ginkgo Bioworks — 15 (Unaudited) (1) (1) TOTAL ADJUSTED EBITDA ($M) TOTAL ADJUSTED EBITDA BY SEGMENT ($M) 31% Total Revenue Expenses (incl. Cost Segment Q1 2024 Q4 2024 Q1 2025 Q2 2025 of Sales) Cell Engineering ($92) ($38
Slide 16: We believe…
Property of Ginkgo Bioworks — 16 We believe… 1 2 3 Ginkgo’s continued Ginkgo’s Automation and Ginkgo launched its first restructuring execution is Datapoints continue to direct-to-scientist product: expected to drive further establish themselves as a cell-free protein improvements in cash critical to
Slide 17: In 2024, we began offering our platform directly to customer scientists as tools
Property of Ginkgo Bioworks — 17 In 2024, we began Head of offering our platform R&D CUSTOMER Scientist directly to customer scientists as tools, Scientific with IP owned by the Deliverable Q2 2025 UPDATE & BUSINESS REVIEW Solutions Tools customer in a simple, customer-friendly Ginkgo Platform busines
Slide 18: In 2024, Ginkgo expanded our business model into life science tools and services
Property of Ginkgo Bioworks — 18 In 2024, Ginkgo expanded our business model into the life science tools and services space Cell Engineering Solutions Cell Engineering Tools HIGHER Asset Licensing Enables partners to optimize Enable customers’ Proprietary lab Cell free candidates to take forward int
Slide 19: In 2024, Ginkgo expanded our business model into life science tools and services
Property of Ginkgo Bioworks — 19 In 2024, Ginkgo expanded our business model into the life science tools and services space Cell Engineering Solutions Cell Engineering Tools HIGHER Asset Licensing Enables partners to optimize Enable customers’ Proprietary lab Cell free candidates Large to but take f
Slide 20: Q2 2025 Update & Business Review
Q2 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 20
Slide 21: Ginkgo has worked out the hard challenges of running a general purpose automated lab
Property of Ginkgo Bioworks — 21 Ginkgo has worked out the hard challenges of running a general purpose, 200k sq ft automated biology lab over the last 10 years, including building our own automation hardware and software stack. AUTOMATION BIOLOGY (CODEBASE) Data Constructs Organisms CDKs Product Q2
Slide 22: The lab bench is a mature and flexible tool environment for biotech R&D
The lab bench is a mature and flexible tool environment for biotech Property of Ginkgo Bioworks — 22 R&D – however it is not improving substantially and we are hitting the limit of tolerance for research costs in both Ag and Biopharma R&D Q2 2025 UPDATE & BUSINESS REVIEW Why not use automation to cre
Slide 23: We aren't the only ones thinking this way
Property of Ginkgo Bioworks — 23 We aren’t the only ones thinking this way “Like many other domains, science itself will be transformed by AI…. Basic science today is often a labor-intensive process; the AI era will require more scientific and engineering research to transform theories into industria
Slide 24: High mix, High throughput
Property of Ginkgo Bioworks — 24 High mix, High throughput High mix, low throughput = RACs = lab bench [ThermoFisher; Danaher; and long tail of equipment of and reagent suppliers] Mix Q2 2025 UPDATE & BUSINESS REVIEW Low mix, high throughput = automation workcells [ThermoFisher; HighRes Biosolutions
Slide 25: Traditional automation workcells are low ROI compared to the lab bench
Property of Ginkgo Bioworks — 25 Traditional automation workcells are low ROI compared to the lab bench due to their narrow range of functionality – limiting their application to high throughput screening, compound management, diagnostics, and other very repeatable work. Q2 2025 UPDATE & BUSINESS RE
Slide 26: Hardware
HARDWARE Property of Ginkgo Bioworks — 26 Reconfigurable Optional HEPA Filter Automation Carts (RACs) Building blocks for the automated lab Dedicated robotic arm A RAC is a standardized enclosure improves reliability and for integrating scientific throughput instrumentation. Rigorously engineered hard
Slide 27: Rapidly adding new off-the-shelf hardware integrations
Property of Ginkgo Bioworks — 27 Rapidly adding new off-the-shelf hardware integrations Liquid Handlers ○ Beckman Echo 5xx/6xx ○ ○ Agilent Bravo ○ Formulatrix Floi8 Analytics ○ Formulatrix Tempest ○ Waters ACQUITY HPLC ○ Thermo Attune Cytpix Bulk Dispensers Flow Cytometer ○ Biotek MultifloFX ○ Biotek
Slide 28: Unique among automation vendors, Ginkgo is a user of our own automation
Property of Ginkgo Bioworks — 28 Unique among automation vendors, Ginkgo is a user of our own automation to conduct biotechnology R&D Q2 2025 UPDATE & BUSINESS REVIEW
Slide 29: Modularity built directly into automation hardware is a unique selling proposition
Modularity built directly into automation Property of Ginkgo Bioworks — 29 hardware is a unique selling proposition appreciated by customers Q2 2025 UPDATE & BUSINESS REVIEW
Slide 30: Customers save money as RAC systems are designed to be expanded
Customers save money as RAC systems Property of Ginkgo Bioworks — 30 A RAC system originally aimed at one application are designed to be expanded, unlike (here NGS library prep) can serve many other applications (e.g. DNA assembly or PCR prep). traditional integrated automation systems Single RAC ad
Slide 31: Applications
Property of Ginkgo Bioworks — 31 APPLICATIONS High-throughput Screening HiBiT Protein Quantification Assay PRE-FILL ASSAY PLATES SAMPLE RE-ARRAY REACTION SETUP PLATE READ 1. Bulk dispense PBS 1. Acoustic dispense 1. Bulk dispense HiBiT 1. Read bioluminescence buffer into assay samples and standards de
Slide 32: Customers save money as RAC systems are designed to be expanded
Customers save money as RAC systems Property of Ginkgo Bioworks — 32 A RAC system originally aimed at a small set of application (qPCR and NGS library prep) can serve are designed to be expanded, unlike many other applications (e.g. DNA assembly) traditional integrated automation systems Single RAC
Slide 33: Ginkgo Automation Powers AI
[ GINKGO AUTOMATION POWERS AI ] (July 30, 2025) Q2 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 33
Slide 34: The EMSL/PNNL Anaerobic System
[ GINKGO AUTOMATION POWERS AI ] Property of Ginkgo Bioworks — 34 The EMSL/PNNL Anaerobic System - Fully integrated workcell comprising 18 different devices housed within a modular anaerobic chamber Q2 2025 UPDATE & BUSINESS REVIEW - Aims to enable scientists to remotely operate complex end-to-end ana
Slide 35: The EMSL/PNNL system is believed to be the largest automated anaerobic system for research
[ GINKGO AUTOMATION POWERS AI ] Property of Ginkgo Bioworks — 35 The EMSL/PNNL system is believed to be the largest automated anaerobic system for research in the world Q2 2025 UPDATE & BUSINESS REVIEW
Slide 36: We aren't the only ones thinking this way
Property of Ginkgo Bioworks — 36 We aren’t the only ones thinking this way “Like many other domains, science itself will be transformed by AI…. Basic science today is often a labor-intensive process; the AI era will require more scientific and engineering research to transform theories into industria
Slide 37: Customers can replicate the "lab in the loop" AI enabled science
[ GINKGO AUTOMATION POWERS AI ] Property of Ginkgo Bioworks — 37 Customers can replicate the “lab in the loop” AI enabled science that Ginkgo has built in our labs- both automation and software Ginkgo has built custom software infrastructure supporting closed loop experimentation, and is happy to co
Slide 38: Q2 2025 Update & Business Review
Q2 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 38
Slide 39: Ginkgo Datapoints: Your CRO Made Different
Property of Ginkgo Bioworks — 39 [ GINKGO DATAPOINTS: YOUR CRO MADE DIFFERENTLY ] Our robust workflows start here. New Perturbation Specialized Antibody Small Molecule Response Profiling HTS Developability Developability HT- transcriptomics and Tailored discovery assays to Biophysical characterization
Slide 40: Ginkgo Datapoints: Made for Discovery
Property of Ginkgo Bioworks — 40 [ GINKGO DATAPOINTS: MADE FOR DISCOVERY] Applications are numerous and transformative Accelerating biologics time to Expressibility of alternative clinic (non-IgG) antibody formats Small molecule ADME at Mechanism of action library-scale determination and validation
Slide 41: Ginkgo Datapoints Small Molecule Developability
Property of Ginkgo Bioworks — 41 [ GINKGO DATAPOINTS SMALL MOLECULE DEVELOPABILITY ] Scalable, automated workflows—the Ginkgo standard Rapid turnaround to keep pace with modern discovery cycles Cost-effective pricing built for Q2 2025 UPDATE & BUSINESS REVIEW throughput, with a price match guarantee a
Slide 42: Ginkgo Datapoints Small Molecule Developability
Property of Ginkgo Bioworks — 42 [ GINKGO DATAPOINTS SMALL MOLECULE DEVELOPABILITY ] Accelerating discovery cycles means collecting more comprehensive data on your libraries, earlier and faster. Traditional drug discovery AI-ready drug discovery Target identification & validation ADME Hit identificati
Slide 43: Ginkgo Datapoints Small Molecule Developability
Property of Ginkgo Bioworks — 43 [ GINKGO DATAPOINTS SMALL MOLECULE DEVELOPABILITY ] We can serve as a foundational ADME data generation partner to accelerate your ML-guided active learning cycles. Design Hit Identification Initial HTS campaign generates large number of hits, many with poor ADME Anal
Slide 44: How to work with us
Property of Ginkgo Bioworks — 44 [ GINKGO DATAPOINTS SMALL MOLECULE DEVELOPABILITY ] How to work with us 1 2 3 4 5 Project scoping & Partner provides Assay execution Echo-MS Data delivery ordering chemical libraries detection Q2 2025 UPDATE & BUSINESS REVIEW Speak to our team about You provide your
Slide 45: We believe…
Property of Ginkgo Bioworks — 45 We believe… 1 2 3 Ginkgo’s continued Ginkgo’s Automation and Ginkgo launched its first restructuring execution is Datapoints continue to direct-to-scientist product: expected to drive further establish themselves as a cell-free protein improvements in cash critical to
Slide 46: Engineered Reagents to Power Your Research
Property of Ginkgo Bioworks — 46 Engineered Reagents to Power Your Research Cell-Free Protein Synthesis from Ginkgo Reagents: 2x yields for half the cost compared to market leader Q2 2025 UPDATE & BUSINESS REVIEW $2,000 for E. coli lysate and a reagent mix (10 mL kit)
Slide 47: Our first product has already generated lots of interest
Property of Ginkgo Bioworks — 47 Our first product has already generated lots of interest Cell free protein synthesis kits that outperform the competition Improved protein synthesis from linear DNA Fast experimental timelines Formulated to boost protein solubility High yields of difficult-to-express pr
Slide 48: Introduction
Property of Ginkgo Bioworks — 48 Introduction Jason Kelly, Co-Founder and CEO Q2 2025 Financial Update Steve Coen, CFO Agenda Q2 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 49: Appendix
APPENDIX Q2 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 49
Slide 50: Cell Engineering Revenue (Unaudited)
Cell Engineering Revenue (Unaudited) Property of Ginkgo Bioworks — 50 In millions of USD, except % of total Three Months Ended June 30, Six Months Ended June 30, % of 2025 % of Total 2024 % of Total 2025 % of Total 2024 Total Related Parties $0 0% $5 14% $9 12% $6 9% Third Parties 39 100% 31 86% 68
Slide 51: Cell Engineering Revenue-Generating Program Count
(1) Cell Engineering Revenue-Generating Program Count Property of Ginkgo Bioworks — 51 Q2 2025 UPDATE & BUSINESS REVIEW (1) Chart depicts our historically reported Current Active Programs, expanded to include programs previously referred to as “Other Contracts”, and further adjusted to exclude progr
Slide 52: Segment Information (Unaudited)
Segment Information (Unaudited) Property of Ginkgo Bioworks — 52 In millions of USD Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Cell Engineering Revenue $ 39 $ 36 $ 77 $64 Costs and operating expenses: Cost of other revenue 4 2 7 2 Research and development 31 84 80 166
Slide 53: Segment Information Footnotes
Segment Information Footnotes Property of Ginkgo Bioworks — 53 1) Includes $0.3 million and $1.1 million in employer payroll taxes for the three months ended June 30, 2025 and 2024, respectively, and $0.6 million and $2.7 million in employer payroll taxes for the six months ended June 30, 2025 and 2
Slide 54: Adjusted EBITDA Reconciliation (Unaudited)
Adjusted EBITDA Reconciliation (Unaudited) Property of Ginkgo Bioworks — 54 In millions of USD Three Months Ended June 30, Six Months Ended June 30, 2025 2024* 2025 2024* Net loss ⁽¹⁾ $ (60.3) $ (217.2) $ (151.3) $ (383.1) Interest income, net (6.1) (10.3) (12.2) (22.0) Income tax expense (0.3) 0.2
Ginkgo Bioworks Holdings — Q2 2025 Earnings Presentation on 6ix