Ginkgo Bioworks Holdings, Inc. · NYSE:DNA
Ginkgo Bioworks — Q4 2024 Earnings Presentation
57 slides from Ginkgo Bioworks's earnings presentation, Feb 25, 2025
Slide 1: Q4 and FY 2024 Update & Business Review
Property of Ginkgo Bioworks — 1 Grow with Ginkgo Q4 and FY 2024 Update & Business Review Q1 2024 UPDATE & BUSINESS REVIEW February 25, 2025
Slide 2: Disclaimer: Forward-Looking Statements
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: Agenda
Property of Ginkgo Bioworks — 3 Introduction Jason Kelly, Co-Founder and CEO Q4 and FY 2024 Financial Update Mark Dmytruk, CFO Agenda Q4 & FY 2024 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Joseph Fridman, Director of Communications and Corpora
Slide 4: Our Mission and Objectives
Property of Ginkgo Bioworks — 4 OUR MISSION Make biology easier to engineer OBJECTIVES Reaching Adjusted EBITDA breakeven by the Q4 & FY 2024 UPDATE & BUSINESS REVIEW end of 2026 while maintaining a cash margin of safety Cutting costs while serving current customers Expanding from our Solutions busi
Slide 5: Agenda
Property of Ginkgo Bioworks — 5 Introduction Jason Kelly, Co-Founder and CEO Q4 and FY 2024 Financial Update Mark Dmytruk, CFO Agenda Q4 & FY 2024 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Joseph Fridman, Director of Communications and Corpora
Slide 6: Cell Engineering Highlights
Cell Engineering Highlights Property of Ginkgo Bioworks — 6 CELL ENGINEERING REVENUE ($M) CURRENT ACTIVE PROGRAMS TOTAL ACTIVE CUSTOMERS 5% 6% 21% Industrial & Environmental Q4 & FY 2024 UPDATE & BUSINESS REVIEW Includes recognition Pharma & of $45M non-cash deferred revenue Biotech from Motif. Gove
Slide 7: New programs in the quarter showed continued strong execution in biopharma
New programs in the quarter showed continued strong execution in Property of Ginkgo Bioworks — 7 the biopharma industry NEW PROGRAMS IN 2024 Other Customer Contracts(1) Q4 & FY 2024 UPDATE & BUSINESS REVIEW ● 19 out of the 31 contracts are biopharma deals, including 13 deals with large pharma compan
Slide 8: Biosecurity Highlights
Biosecurity Highlights Property of Ginkgo Bioworks — 8 BIOSECURITY REVENUE ($M) Ginkgo HQ Boston Q4 & FY 2024 UPDATE & BUSINESS REVIEW CUBE-D Qatar BIOSECURITY GROSS PROFIT MARGIN 126 Countries of origin of flights sampled (65% OF NATIONS GLOBALLY) 15.3M+ 96K+ 24K+ 11 44 KEY Samples Samples Pathogen
Slide 9: Q4 2024 Financial Summary
Property of Ginkgo Bioworks — 9 Q4 2024 Financial Summary Three Months Ended December 31, Twelve Months Ended December 31, In millions of USD 2024 2023* % YoY 2024 2023* % YoY Revenue: Cell Engineering ⁽¹⁾ $ 35 $ 27 29% $ 174 $ 144 21% Biosecurity 9 8 16% 53 108 (51%) Total revenue 44 35 26% 227 251
Slide 10: Downstream value share and ~$1.7B milestone pool
While strategic priorities shifted away from downstream value Property of Ginkgo Bioworks — 10 share (DVS) in 2024, Ginkgo maintains a pool of ~$1.7B in potential downstream milestone revenue Milestone Pool Opportunity as of Year End Total DVS Opportunities including Milestone Pool As of the end of
Slide 11: 2025 Full Year Outlook
2025 Full Year Outlook Property of Ginkgo Bioworks — 11 Historical Outlook In millions of USD FY2024 FY2025 Revenue Cell Engineering $174 $110-130 Services $129 $110-130 Q4 & FY 2024 UPDATE & BUSINESS REVIEW Motif 3Q24 non-cash deferred revenue release $45 - Biosecurity $53 $50+ Total revenue $227 $
Slide 12: Agenda
Property of Ginkgo Bioworks — 12 Introduction Jason Kelly, Co-Founder and CEO Q4 and FY 2024 Financial Update Mark Dmytruk, CFO Agenda Q4 & FY 2024 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Joseph Fridman, Director of Communications and Corpor
Slide 13: We believe…
Property of Ginkgo Bioworks — 13 We believe… 1 2 3 Ginkgo’s successful Ginkgo’s expansion into Ginkgo’s Datapoints and restructuring execution direct sales of life science Automation offerings are drove significant cash tools & services is seeing strong positive flow improvement in Q4 opening new marke
Slide 14: We believe…
Property of Ginkgo Bioworks — 14 We believe… 1 2 3 Ginkgo’s successful Ginkgo’s expansion into Ginkgo’s Datapoints and restructuring execution direct sales of life science Automation offerings are drove significant cash tools & services is seeing strong positive flow improvement in Q4 opening new marke
Slide 15: Significant improvement in cash flow from Q3 to Q4
Significant improvement in cash flow from ($114M) Q3 to ($55M) Property of Ginkgo Bioworks — 15 in Q4 (1) QUARTERLY CASH BURN IN 2024 ($M) 2024 RESTRUCTURING ACCOMPLISHMENTS (52)% People ● >40% workforce reduction Q4 & FY 2024 UPDATE & BUSINESS REVIEW Other ● Rationalization of professional fees, cont
Slide 16: $190M annual run rate cost savings achieved
$190M annual run rate cost savings achieved from Q1 to Q4 Property of Ginkgo Bioworks — 16 TOTAL ADJUSTED EBITDA ($M) 2024 RESULTS 2025 TARGETS 16% Total Revenue ● $129M in Cell Engineering ● $110-130M in Cell Engineering Cash revenue(1) revenue (guidance) Expenses (incl. Cost ● $53M in Biosecurity
Slide 17: Site consolidation is substantially complete
Property of Ginkgo Bioworks — 17 Site consolidation is substantially complete Boston / Cambridge Evry ✘1 ABP (Parcel O/P) 21-25 Drydock ✘ Sold Altar SAS to Lesaffre including 23 Drydock Zeist, NDL ALE entity in France. Transaction 27 Drydock 451D Ultrechtseweg 48 closed 9/30/2024. ✘10 WIlson ✘45 Moul
Slide 18: We believe…
Property of Ginkgo Bioworks — 18 We believe… 1 2 3 Ginkgo’s successful Ginkgo’s expansion into Ginkgo’s Datapoints and restructuring execution direct sales of life science Automation offerings are drove significant cash tools & services is seeing strong positive flow improvement in Q4 opening new marke
Slide 19: Offering our platform directly to customer scientists as tools
Property of Ginkgo Bioworks — 19 In 2024, we began Head of offering our platform R&D CUSTOMER Scientist directly to customer scientists as tools, Q4 & FY 2024 UPDATE & BUSINESS REVIEW Scientific with IP owned by Deliverable Solutions Tools customer & simple customer-friendly Ginkgo Platform business m
Slide 20: Expanded cell engineering offerings into life science tools and services
Property of Ginkgo Bioworks — 20 Ginkgo 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 Proprietar
Slide 21: Solutions and Tools are very complementary
Property of Ginkgo Bioworks — 21 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 22: Customer interest driven by need for large data assets for AI
Property of Ginkgo Bioworks — 22 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 23: Kit-based vs automation-based approaches to generating lab data
Kit-based, small batch vs Automation-based, large batch approach to Property of Ginkgo Bioworks — 23 generating lab data provide different advantages Q4 & FY 2024 UPDATE & BUSINESS REVIEW ADVANTAGE ADVANTAGE Maximal flexibility to scientists, rapid onboarding of new Improvement with scale techniques,
Slide 24: The Data Foundry model complements a classic research approach
The Data Foundry model complements (does not replace!) a Property of Ginkgo Bioworks — 24 classic research approach Classic Research Approach Foundry Research Approach Flexibility Infinite Limited Data density Low High Approach Hypothesis-driven / focused Inductive / broad Q4 & FY 2024 UPDATE & BUSI
Slide 25: We believe…
Property of Ginkgo Bioworks — 25 We believe… 1 2 3 Ginkgo’s successful Ginkgo’s expansion into Ginkgo’s Datapoints and restructuring execution direct sales of life science Automation offerings are drove significant cash tools & services is seeing strong positive flow improvement in Q4 opening new marke
Slide 26: Q4 & FY 2024 UPDATE & BUSINESS REVIEW
Q4 & FY 2024 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 26
Slide 27: Ginkgo Datapoints powers AI
Property of Ginkgo Bioworks — 27 [ GINKGO DATAPOINTS POWERS AI ] We built Ginkgo Datapoints to generate the data that underpins AI models in biotech. We provide data in a low-friction manner with customer needs in mind. Q4 & FY 2024 UPDATE & BUSINESS REVIEW [ DEAL TERMS ] [ WAYS OF WORKING ] Pricing
Slide 28: Functional genomics supports AI for target discovery
Functional genomics supports AI Property of Ginkgo Bioworks — 28 for target discovery Flexibility & Choose from cell types, compound Customization library, data readouts. We handle both perturbation and Q4 & FY 2024 UPDATE & BUSINESS REVIEW End-to-End readouts. Customers tell us what they need, and
Slide 29: Functional genomics cell types
Property of Ginkgo Bioworks — 29 [ GINKGO DATAPOINTS FUNCTIONAL GENOMICS ] We can work with the cell types of our customers’ choosing Cell types onboarded on drug-seq Additional cell types onboarded on the Ginkgo platform Cell type Source organism Tissue / organ Cell line Source organism Tissue / or
Slide 30: Sample perturbation datasets released to the public
Download sample datasets Property of Ginkgo Bioworks — 30 [ GINKGO DATAPOINTS FUNCTIONAL GENOMICS ] We released sample perturbation datasets to the public GDPx2 GDPx1 RELEASE DATE RELEASE DATE ● December 2024 ● September 2024 DATA PACKAGE DATA PACKAGE ● Metadata for a subset of 10 compounds and all
Slide 31: Antibody developability supports AI for drug development
Antibody developability supports Property of Ginkgo Bioworks — 31 AI for drug development ● Screen over 2,400 antibody sequences in parallel Scale ● Enabled by our highly automated lab and over $1 billion of invested wet lab infrastructure 1. We take antibody sequences as input, perform wet lab work
Slide 32: Ginkgo Datapoints antibody developability
32 [ GINKGO DATAPOINTS ANTIBODY DEVELOPABILITY ] — Property of Ginkgo Bioworks [ DEVELOPABILITY CHARACTERIZATION ] [ DELIVERABLE ] Assays Technology Key Data Output Standard Product Core Titer Valita mg/L Offering Ready Target Binding (BLI) Octet KD Fragmentation (CE-SDS) LabChip %Purity GINKGO DATAP
Slide 33: Project examples
Property of Ginkgo Bioworks — 33 [ PROJECT EXAMPLES ] We tailor data generation campaigns according to customer R&D priorities and support cell types across multiple therapeutic areas Example 1: Data for Oncology Target ID Example 2: Data for Alzheimer’s Target ID [ Arrayed chemical perturbations in
Slide 34: Pre-launch access to RNA data services
Property of Ginkgo Bioworks — 34 Reach out for pre-launch access to RNA data services! Extended duration, more protein Generate laboratory data to fine-tune and validate mRNA sequence design models Data generation assays Throughput TAT / Assay Description Included Options** RNA | HT Data Stability 20
Slide 35: Q4 & FY 2024 UPDATE & BUSINESS REVIEW
Q4 & FY 2024 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 35
Slide 36: Reconfigurable Automation Carts hardware
HARDWARE Property of Ginkgo Bioworks — 36 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. Q4 & FY 2024 UPDATE & BUSI
Slide 37: Rapidly adding new off-the-shelf hardware integrations
Property of Ginkgo Bioworks — 37 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 38: Accelerated Drug Discovery on RACs at Octant
Property of Ginkgo Bioworks — 38 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. Q4 & FY 2024 UPDATE & BUSI
Slide 39: Ginkgo is a user of its own automation
Property of Ginkgo Bioworks — 39 Unique among automation vendors, Ginkgo is a user of our own automation to conduct biotechnology R&D Q4 & FY 2024 UPDATE & BUSINESS REVIEW
Slide 40: Customers save money as RAC systems are designed to be expanded
Customers save money as RAC systems Property of Ginkgo Bioworks — 40 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 41: Modularity built into automation hardware
Modularity built directly into automation Property of Ginkgo Bioworks — 41 hardware is a unique selling proposition appreciated by customers Q4 & FY 2024 UPDATE & BUSINESS REVIEW
Slide 42: Customer testimonial: Michael Botts
Property of Ginkgo Bioworks — 42 Q4 & FY 2024 UPDATE & BUSINESS REVIEW "We're excited to incorporate this advanced automation system into our workflows. Our researchers tackle a wide range of scientific challenges, from optimizing microbial conversion processes to exploring new feedstocks. Having a si
Slide 43: Our Integrated Offering: RACs, Catalyst ACS and Flow
Property of Ginkgo Bioworks — 43 OFFERINGS HARDWARE Reconfigurable Automation Carts (RACs) Our Integrated Offering HARDWARE Reconfigurable Automation Carts (RACs) Modular hardware building blocks that allow for (re)assembly of work cells within days or hours, not months. Q4 & FY 2024 UPDATE & BUSINESS
Slide 44: RACs are Lego building blocks for lab automation
Property of Ginkgo Bioworks — 44 Reconfigurable Automation Carts We hope RACs can become a horizontal platform to standardize integrated lab are “Lego” building blocks for Lab automation across the industry. Automation Q4 & FY 2024 UPDATE & BUSINESS REVIEW
Slide 45: Biosecurity: EU health resilience quote
Property of Ginkgo Bioworks — 45 Q4 & FY 2024 UPDATE & BUSINESS REVIEW “Diagnostics as decision LEARN MORE making tools are a key component of our toolbox to rapidly respond to health emergencies. The ability to quickly identify even previously unknown pathogens will be a critical step in reinforcin
Slide 46: Let's grow the world we want to see
see Let’s grow the world we want to Q1 2024 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 46
Slide 47: Agenda
Property of Ginkgo Bioworks — 47 Introduction Jason Kelly, Co-Founder and CEO Q4 and FY 2024 Financial Update Mark Dmytruk, CFO Agenda Q4 & FY 2024 UPDATE & BUSINESS REVIEW Strategic Review Jason Kelly, Co-Founder and CEO Q&A Session Moderated by Joseph Fridman, Director of Communications and Corpor
Slide 48: Appendix
APPENDIX Q1 2024 UPDATE & BUSINESS REVIEW Property of Ginkgo Bioworks — 48
Slide 49: Cell Program Counts
Cell Program Counts Property of Ginkgo Bioworks — 49 Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 New Programs 14 23 52 78 Current Active Programs 138 131 176 162 Cumulative Programs 294 242 294 242 Q4 & FY 2024 UPDATE & BUSINESS REVIEW New Programs: New Programs repre
Slide 50: Preliminary Look: Revenue-Generating Active Program Count
(1) Preliminary Look: Revenue-Generating Active Program Count Property of Ginkgo Bioworks — 50 Q4 & FY 2024 UPDATE & BUSINESS REVIEW (1) Chart depicts our historically reported Current Active Programs, expanded to include all programs including those previously referred to as “Other Contracts”, and
Slide 51: Cell Engineering Revenue
Cell Engineering Revenue Property of Ginkgo Bioworks — 51 In millions of USD, except % of total Three Months Ended December 31, Year Ended December 31, 2024 % of Total 2023 % of Total 2024 % of Total 2023 % of Total Related Parties $1 3% $2 9% $ 53 30% $ 22 15% Third Parties 34 97% 25 91% 121 70% 12
Slide 52: Segment Information
Segment Information Property of Ginkgo Bioworks — 52 In millions of USD, except % YoY Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Cell Engineering Revenue $ 35 $ 27 $ 174 $ 144 Costs and operating expenses: Cost of other revenue 2 0 6 0 Research and development 50 73
Slide 53: Segment Information Footnotes
Segment Information Footnotes Property of Ginkgo Bioworks — 53 1) For the three months ended December 31, 2024 and 2023, includes $0.1 million and $0.8 million, respectively, in related employer payroll taxes. For the years ended December 31, 2024 and 2023, includes $3.0 million and $5.0 million, re
Slide 54: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Property of Ginkgo Bioworks — 54 In millions of USD Three Months Ended December 31, Year Ended December 31, 2024 2023* 2024 2023* Net loss ⁽¹⁾ $ (107.5) $ (211.7) $ (547.0) $ (892.9) Interest income, net (7.2) (13.2) (38.5) (57.1) Income tax benefit (0.3) (0.2) (0.5) (0
Slide 55: Stock-Based Compensation
Stock-Based Compensation Property of Ginkgo Bioworks — 55 In millions of USD, except % YoY Three Months Ended December 31, Year Ended December 31, 2024 2023 % YoY 2024 2023 % YoY Total Stock-Based Compensation $ 20.7 $ 43.6 (53%) $ 115.3 $ 234.9 (51%) Amount included in Research and Development expe
Slide 56: Stock Based Compensation Expense Supplement
Stock Based Compensation Expense Supplement Property of Ginkgo Bioworks — 56 As disclosed in our SEC filings, the vast majority of Ginkgo’s stock-based compensation expense since going public relates to the accounting treatment of RSUs granted prior to Ginkgo becoming a publicly traded company, which
Slide 57: Share Supplement
Share Supplement Property of Ginkgo Bioworks — 57 Illustrative Fully-Diluted Share Count Shares in thousands Basic Shares (1) 54,239 RSUs (2) 3,327 Fully-Diluted Shares 57,566 Q4 & FY 2024 UPDATE & BUSINESS REVIEW Memo: Remaining Earnout Shares Outstanding (3) 3,794 Memo: Shares Underlying Warrants
Ginkgo Bioworks Holdings — Q4 2024 Earnings Presentation on 6ix