Ginkgo Bioworks Holdings, Inc. · NYSE:DNA
Ginkgo Bioworks — Q1 2025 Earnings Presentation
54 slides from Ginkgo Bioworks's earnings presentation, May 6, 2025
Slide 1: Q1 2025 Update & Business Review
May 6, 2025 Business Review Grow with Ginkgo Q1 2025 Update & Q1 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, strategies, including with respect to our c
Slide 3: Introduction and Agenda
Property of Ginkgo Bioworks — 3 Introduction Jason Kelly, Co-Founder and CEO Q1 2025 Financial Update Mark Dmytruk, CFO Agenda Q1 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 Q1 2025 UPDATE & BUSINESS REVIEW safety Cutting costs while serving current customers Expanding from our Solutions business
Slide 5: $205M annual run rate cost savings achieved
$205M annual run rate cost savings achieved from Q1’24 to Q1’25 Property of Ginkgo Bioworks — 5 (Unaudited) TOTAL ADJUSTED EBITDA ($M) QUARTERLY CASH BURN(2) ($M) 27% Total Revenue (44)% Cash Expenses (incl. Cost of Sales) Q1 2025 UPDATE & BUSINESS REVIEW (31)% Ginkgo remains in a strong financial po
Slide 6: Introduction and Agenda
Property of Ginkgo Bioworks — 6 Introduction Jason Kelly, Co-Founder and CEO Q1 2025 Financial Update Mark Dmytruk, CFO Agenda Q1 2025 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Daniel Marshall, Sr. Manager of Communications and Ownership
Slide 7: Cell Engineering Highlights (Unaudited)
Cell Engineering Highlights (Unaudited) Property of Ginkgo Bioworks — 7 CELL ENGINEERING REVENUE ($M) REVENUE-GENERATING PROGRAMS (1) Includes recognition of $7.5M non-cash deferred revenue 32% from BiomEdit. 37% Q1 2025 UPDATE & BUSINESS REVIEW 1) See Appendix for description of revenue-generating
Slide 8: Biosecurity Highlights
Biosecurity Highlights Property of Ginkgo Bioworks — 8 (Unaudited) BIOSECURITY REVENUE ($M) Ginkgo HQ Boston Q1 2025 UPDATE & BUSINESS REVIEW BIOSECURITY SEGMENT GROSS MARGIN(1) 127 Countries of origin of flights sampled (65% OF NATIONS GLOBALLY) 15.3M+ 97K+ 24K+ 11 45 KEY Samples Samples Pathogen Ge
Slide 9: Q1 2025 Financial Summary (Unaudited)
Property of Ginkgo Bioworks — 9 Q1 2025 Financial Summary (Unaudited) Three Months Ended March 31, In millions of USD 2025 2024 % YoY Revenue: Cell Engineering ⁽¹⁾ $38 $28 37% Biosecurity 10 10 0% Total revenue 48 38 27% Cell Engineering cost of other revenue 3 0 NM Cell Engineering research and dev
Slide 10: Ginkgo updates guidance to reflect $7 million non-cash deferred revenue release
Ginkgo updates guidance solely to reflect the $7 million non-cash Property of Ginkgo Bioworks — 10 deferred revenue release 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 $7 Q1 20
Slide 11: Introduction and Agenda
Property of Ginkgo Bioworks — 11 Introduction Jason Kelly, Co-Founder and CEO Q1 2025 Financial Update Mark Dmytruk, CFO Agenda Q1 2025 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Daniel Marshall, Sr. Manager of Communications and Ownership
Slide 12: We believe…
Property of Ginkgo Bioworks — 12 We believe… 1 2 3 Ginkgo’s continued Biotechnology remains a Ginkgo’s Datapoints and restructuring execution is critical emerging Automation offerings are expected to drive further technology area in the US seeing new deals and improvements in cash and Ginkgo is well
Slide 13: We believe…
Property of Ginkgo Bioworks — 13 We believe… 1 2 3 Ginkgo’s continued Biotechnology remains a Ginkgo’s Datapoints and restructuring execution is critical emerging Automation offerings are expected to drive further technology area in the US seeing new deals and improvements in cash and Ginkgo is well
Slide 14: Our goal is to reach Adjusted EBITDA breakeven by the end of 2026
Our goal is to reach Adjusted EBITDA breakeven by the end of 2026 Property of Ginkgo Bioworks — 14 (Unaudited) TOTAL ADJUSTED EBITDA ($M) Q1 2025 RESULTS 2025 TARGETS Total 27% Revenue ● $38M in Cell Engineering ● $117-137M in Cell Engineering Cash revenue(2) revenue (guidance)(2) Expenses (incl. Co
Slide 15: Our goal is to reach Adjusted EBITDA breakeven by the end of 2026
Our goal is to reach Adjusted EBITDA breakeven by the end of 2026 Property of Ginkgo Bioworks — 15 (Unaudited) TOTAL ADJUSTED EBITDA ($M) TOTAL ADJUSTED EBITDA BY SEGMENT ($M) Total 27% Revenue Cash Expenses Segment Q1 2024 Q4 2024 Q1 2025 (incl. Cost of Sales) Cell Engineering ($92) ($38) ($32) Bio
Slide 16: We believe…
Property of Ginkgo Bioworks — 16 We believe… 1 2 3 Ginkgo’s continued Biotechnology remains a Ginkgo’s Datapoints and restructuring execution is critical emerging Automation offerings are expected to drive further technology area in the US seeing new deals and improvements in cash and Ginkgo is well
Slide 17: Quote from OSTP Director Michael Kratsios
Property of Ginkgo Bioworks — 17 “Whether in AI, quantum, biotech, or next-generation semiconductors, in partnership with the private sector and Q1 2025 UPDATE & BUSINESS REVIEW academia, it is the duty of government to enable scientists to create new theories and empower engineers to put them into
Slide 18: Quote from NSCEB Report
Property of Ginkgo Bioworks — 18 “We stand at the edge of a new industrial revolution, one that depends on our ability to engineer biology.” NSCEB Report — April 2025 Q1 2025 UPDATE & BUSINESS REVIEW
Slide 19: Ginkgo Solutions is a trusted R&D service provider to the USG
Property of Ginkgo Bioworks — 19 Ginkgo Solutions is a trusted R&D service provider to the USG. ● 28 US Government projects across Cell Engineering and Biosecurity Q1 2025 UPDATE & BUSINESS REVIEW ● ~$180M of contracted backlog and unfunded potential backlog
Slide 20: We believe WHEAT program will help make medicines in the U.S.
Property of Ginkgo Bioworks — 20 We believe WHEAT program will help make a wide range of medicines in the U.S. without relying on fragile overseas supply chains. ● Most drug ingredients are made overseas, which creates delays and shortages. ● We’re using a cell-free system powered by wheat germ whic
Slide 21: Q1 2025 UPDATE & BUSINESS REVIEW
Q1 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 21
Slide 22: Our Products Remain
[ OUR PRODUCTS REMAIN ] 22— Property of Ginkgo Bioworks CANOPY HORIZON Data Generation Data Platform Converts raw biological signals into structured, Offers access to valuable genomic and biological 04.30.2025 BIOSECURITY ONSITE high-quality data for real-time biosurveillance. insights through bioth
Slide 23: Utilizing biological radar stations as a collection
Property of Ginkgo Bioworks — 23 Utilizing biological radar stations as a collection We can operationalize nodes of collection across a range of settings HOSPITALS COMMUNITIES & CONGREGATE SETTINGS AIRPORTS BSL-3 & EMBASSIES BSL-4 LABS Q1 2025 UPDATE & BUSINESS REVIEW AGRICULTURAL SITES SITES OF HAB
Slide 24: Ginkgo Biosecurity offers technology-based approaches to viral monitoring and defense
Property of Ginkgo Bioworks — 24 Ginkgo Biosecurity offers technology-based approaches to viral monitoring and defense WHO approach was based Ginkgo HQ on voluntary information Boston sharing. Outdated in current era, especially after Q1 2025 UPDATE & BUSINESS REVIEW experience with COVID. Passive mo
Slide 25: We believe…
Property of Ginkgo Bioworks — 25 We believe… 1 2 3 Ginkgo’s continued Biotechnology remains a Ginkgo’s Datapoints and restructuring execution is critical emerging Automation offerings are expected to drive further technology area in the US seeing new deals and improvements in cash and Ginkgo is well
Slide 26: In 2024, we began offering our platform directly to customer scientists as tools
Property of Ginkgo Bioworks — 26 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 Solutions Tools Q1 2025 UPDATE & BUSINESS REVIEW customer in a simple, customer-friendly Ginkgo Platform busines
Slide 27: We expanded our cell engineering offerings into life science tools and services
Property of Ginkgo Bioworks — 27 We expanded our cell engineering offerings into the life science tools and services space Cell Engineering Solutions (end-to-end) Cell Engineering Tools HIGHER Asset Licensing Enables partners to optimize candidates Enables customer Builds powerful tool Proprietary la
Slide 28: Solutions and Tools are very complementary
Property of Ginkgo Bioworks — 28 Solutions and Tools are very complementary Cell Engineering Solutions (end-to-end) Cell Engineering Tools HIGHER Asset Licensing Enables partners to optimize candidates Enable customer Builds powerful tool Proprietary lab to takeLarge forwardbut into longer-term deve
Slide 29: Ginkgo has worked out the hard challenges of running a general purpose automated lab
Property of Ginkgo Bioworks — 29 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 di
Slide 30: Customer interest driven need for large data assets to enable AI
Property of Ginkgo Bioworks — 30 Customer interest driven need for large data The alliance will bring “AI, assets to enable AI in biotechnology the lab, and the clinic together to uncover otherwise inaccessible patterns in vast quantities of data, and to design experiments to test those patterns.” A
Slide 31: Kit-based, small batch vs Automation-based, large batch approach
Kit-based, small batch vs Automation-based, large batch approach to Property of Ginkgo Bioworks — 31 generating lab data provide different advantages Q1 2025 UPDATE & BUSINESS REVIEW ADVANTAGE ADVANTAGE Maximal flexibility to scientists, rapid onboarding of new Improvement with scale techniques, PhDs
Slide 32: The Data Foundry model complements a classic research approach
The Data Foundry model complements (does not replace!) a Property of Ginkgo Bioworks — 32 classic research approach Classic Research Approach Foundry Research Approach Flexibility Infinite Limited Data density Low High Approach Hypothesis-driven / focused Inductive / broad Q1 2025 UPDATE & BUSINESS
Slide 33: Q1 2025 UPDATE & BUSINESS REVIEW
Q1 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 33
Slide 34: GDPa1 dataset released Monday!
GDPa1 dataset released Monday ! Data drops valuable for Property of Ginkgo Bioworks — 34 community and showcase output of Datapoint services. Antibodies were expressed in HEK293F and purified using Protein A chromatography prior to developability assessment for all assays. Antibodies tested on DLS-kD
Slide 35: Q1 2025 UPDATE & BUSINESS REVIEW
Q1 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 35
Slide 36: Partnering with Ginkgo Automation (Aura Genetics)
Property of Ginkgo Bioworks — 36 “Partnering with Ginkgo Automation marks a significant step forward for Q1 2025 UPDATE & BUSINESS REVIEW Aura Genetics. The sophisticated automation capabilities provided by Ginkgo will allow us to scale our operations efficiently, accelerate turnaround times, and bring
Slide 37: Accelerated Drug Discovery on RACs at Octant
Property of Ginkgo Bioworks — 37 Accelerated Drug Discovery on RACs at Octant Octant is a platform drug discovery company focused on building small molecule correctors. They adopted RACs in June 2022 to scale from a single indication to advancing multiple programs at once. As reported to us by the O
Slide 38: Hardware: Reconfigurable Automation Carts (RACs)
HARDWARE Property of Ginkgo Bioworks — 38 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 39: Customers save money as RAC systems are designed to be expanded
Customers save money as RAC systems Property of Ginkgo Bioworks — 39 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 add
Slide 40: Rapidly adding new off-the-shelf hardware integrations
Property of Ginkgo Bioworks — 40 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 41: Modularity built directly into automation hardware
Modularity built directly into automation Property of Ginkgo Bioworks — 41 hardware is a unique selling proposition appreciated by customers Q1 2025 UPDATE & BUSINESS REVIEW
Slide 42: Unique among automation vendors, Ginkgo uses its own automation
Property of Ginkgo Bioworks — 42 Unique among automation vendors, Ginkgo is a user of our own automation to conduct biotechnology R&D Q1 2025 UPDATE & BUSINESS REVIEW
Slide 43: Ginkgo Automation Powers AI
Property of Ginkgo Bioworks — 43 [ GINKGO AUTOMATION POWERS AI ] Out of the box Lab-in-the-Loop Seamlessly integrate Integrate your AI models with multi-modal data Automated our automation Execution effortlessly platform From quantitative PCR to Leverage AI to generate cellular morphology, we and refi
Slide 44: Ginkgo Automation Powers AI: Data Insights at Ginkgo
[ GINKGO AUTOMATION POWERS AI ] Property of Ginkgo Bioworks — 44 Data Insights at Ginkgo A variety of data insights are enabled by Ginkgo Automation. Time Series Data Raw Data Files Event Data LIMS Metadata Q1 2025 UPDATE & BUSINESS REVIEW
Slide 45: RACs Enable Large Dataset Generation
[ GINKGO AUTOMATION POWERS AI ] Property of Ginkgo Bioworks — 45 RACs Enable Large Dataset Generation. Here is example QC data from a ~24 hour protocol run on Ginkgo’s in-house RAC system, which processed nearly 10,000 qPCR reactions with high quality and without any human intervention. Q1 2025 UPDA
Slide 46: We can replicate infrastructure for Closed Loop Science at your site
[ GINKGO AUTOMATION POWERS AI ] Property of Ginkgo Bioworks — 46 We can replicate infrastructure we built for Closed Loop Science at Ginkgo at your site - both automation and software Ginkgo has built custom software infrastructure supporting closed loop experimentation, and is happy to consult with
Slide 47: Let's grow the world we want to see
see Let’s grow the world we want to Q1 2025 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 47
Slide 48: Introduction and Agenda
Property of Ginkgo Bioworks — 48 Introduction Jason Kelly, Co-Founder and CEO Q1 2025 Financial Update Mark Dmytruk, CFO Agenda Q1 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 Q1 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 March 31, 2025 % of Total 2024 % of Total Related Parties $8 21% $1 3% Third Parties 30 79% 27 97% Cell Engineering Revenue $ 38 100% $ 28 100% Cash consideration $ 29 77% $
Slide 51: Cell Engineering Revenue-Generating Program Count
(1) Cell Engineering Revenue-Generating Program Count Property of Ginkgo Bioworks — 51 Q1 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, except % YoY Three Months Ended March 31, 2025 2024 Cell Engineering Revenue $ 38 $ 28 Costs and operating expenses: Cost of other revenue 3 0 Research and development 49 82 General and administrative 18 38 Cell Eng
Slide 53: Segment Information Footnotes
Segment Information Footnotes Property of Ginkgo Bioworks — 53 1) Includes $0.4 million and $1.6 million in employer payroll taxes for the three months ended March 31, 2025 and 2024, respectively. 2) Restructuring charges primarily consist of employee termination costs from the reduction-in-force co
Slide 54: Adjusted EBITDA Reconciliation (Unaudited)
Adjusted EBITDA Reconciliation (Unaudited) Property of Ginkgo Bioworks — 54 In millions of USD Three Months Ended March 31, 2025 2024* Net loss ⁽¹⁾ $ (91.0) $ (165.9) Interest income, net (6.1) (11.7) Income tax expense 0.1 (0.0) Depreciation and amortization 15.4 12.9 EBITDA $ (81.6) $ (164.7) Stoc
Ginkgo Bioworks Holdings — Q1 2025 Earnings Presentation on 6ix