[8-K] Ginkgo Bioworks Holdings, Inc. Reports Material Event
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Ginkgo Bioworks Holdings, Inc. reported first quarter 2026 results and highlighted its post-divestiture focus on autonomous labs. Revenue was $19.5 million, down 49% from the prior year quarter, largely due to program rationalization and the absence of prior non-cash deferred revenue releases.
The company posted a GAAP net loss from continuing operations of $76.1 million, modestly improved from $83.3 million a year earlier, and an Adjusted EBITDA loss of $42.3 million compared with $44.2 million. Cash, cash equivalents and marketable securities totaled $373 million as of March 31, 2026.
Ginkgo completed the divestiture of its Biosecurity business on April 3, 2026, which is now reported as discontinued operations. Management emphasized scaling its Nebula autonomous lab, growth in its Cloud Lab, Datapoints and Solutions offerings, and reaffirmed expected full-year 2026 total cash burn of $(150)–$(125) million.
Positive
- None.
Negative
- None.
Insights
Revenue fell sharply, losses remain large but cash runway persists.
Ginkgo Bioworks reported Q1 2026 revenue of $19.5M, a 49% decline year over year as program rationalization and prior-period non-cash deferred revenue releases rolled off. GAAP net loss from continuing operations narrowed slightly to $76.1M, with Adjusted EBITDA at $(42.3)M.
Cash, cash equivalents and marketable securities were $373M as of March 31, 2026, while total cash, cash equivalents and restricted cash were $188.7M. Net cash used in operating activities was $46.7M in the quarter, and the company reaffirmed full-year 2026 total cash burn guidance of $(150)M–$(125)M.
The completed divestiture of the Biosecurity business, now classified as discontinued operations, simplifies reporting around the core autonomous lab platform. Future disclosures in company filings may further clarify how revenue trends, cost controls and Nebula scaling affect the path toward Adjusted EBITDA breakeven.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q1 2026 Revenue: $19.5M
Q1 2026 GAAP net loss from continuing ops: $76.1M
Q1 2026 Adjusted EBITDA: $(42.3)M
+5 more
8 metrics
Q1 2026 Revenue
$19.5M
Three months ended March 31, 2026; 49% decrease vs prior-year quarter
Q1 2026 GAAP net loss from continuing ops
$76.1M
Three months ended March 31, 2026
Q1 2026 Adjusted EBITDA
$(42.3)M
Three months ended March 31, 2026
Cash, cash equivalents and marketable securities
$373M
Balance as of March 31, 2026
Cash, cash equivalents and restricted cash
$188.7M
End of period March 31, 2026
Net cash used in operating activities
$(46.7)M
Three months ended March 31, 2026, including discontinued operations
Total assets
$1.03B
As of March 31, 2026
Total stockholders’ equity
$443.2M
As of March 31, 2026
Key Terms
discontinued operations, Adjusted EBITDA, autonomous lab, carrying cost of excess space, +2 more
6 terms
discontinued operations financial
"is presenting the financial results of operations for the former business within discontinued operations."
Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.
Adjusted EBITDA financial
"First quarter 2026 Adjusted EBITDA of $(42) million, down from $(44) million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
autonomous lab technical
"Nebula is already the world's largest autonomous lab with the ability to run real customer science"
An autonomous lab is a research facility where robots, sensors and software run experiments, collect data and make routine decisions with minimal hands-on human work. Like a self-driving car for laboratory tasks, it speeds up testing, reduces human error and lets companies run many more experiments in parallel. Investors watch for autonomous labs because they can cut development costs, shorten product timelines and increase the chances of finding successful drugs or products faster.
carrying cost of excess space financial
"The carrying cost of excess space includes base rent, common area maintenance charges, and real estate taxes"
stock-based compensation financial
"Stock-based compensation | 15,853 | | 17,386"
Stock-based compensation is when a company pays employees, directors or consultants with shares or the right to buy shares instead of or in addition to cash. It matters to investors because issuing stock or options spreads ownership thinner (like cutting a pie into more slices), which can reduce each existing share’s claim on profits and can also change reported earnings; investors watch it to assess true cost of running the business and how management is incentivized.
non-GAAP financial measures regulatory
"constitute "non-GAAP financial measures" as defined by the SEC."
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Earnings Snapshot
Revenue: $19.5M · Guidance included
Q1 2026
Revenue
$19.5M
-49% YoY
Net loss from continuing operations
$76.1M
Adjusted EBITDA
$(42.3)M
Cash, cash equivalents and marketable securities
$373M
Guidance
Company reaffirmed expected full-year 2026 total cash burn of $(150)M to $(125)M.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________________________________
FORM 8-K
______________________________________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 7, 2026
______________________________________________________________
(Exact name of registrant as specified in its charter)
______________________________________________________________
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (877 ) 422-5362
(Former name or former address, if changed since last report)
______________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02. Results of Operations and Financial Condition.
On May 7, 2026, Ginkgo Bioworks Holdings, Inc. issued a press release announcing its financial results for the first quarter ended March 31, 2026. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
| Exhibit Number | Description | |||||||
| 99.1 | Press Release, issued by Ginkgo Bioworks Holdings, Inc. on May 7, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GINKGO BIOWORKS HOLDINGS, INC. | ||||||||
| Date: May 7, 2026 | By: | /s/ Steven Coen | ||||||
| Name: | Steven Coen | |||||||
| Title: | Chief Financial Officer | |||||||
Exhibit 99.1
Ginkgo Bioworks Reports First Quarter 2026 Financial Results, Completes Divestiture of Biosecurity and Continues to Scale Autonomous Lab
Ginkgo provides an update on its first quarter financial results following the divestiture of its Biosecurity business
BOSTON, Mass – May 7, 2026 – Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, “Ginkgo”) today announced its results for the first quarter of 2026 that ended March 31, 2026. The update, including a webcast slide presentation with additional details on the first quarter, as well as supplemental financial information, will be available at investors.ginkgobioworks.com.
First Quarter 2026 Financial Results
•As previously announced, Ginkgo completed the divestiture of its Biosecurity business on April 3, 2026 and is presenting the financial results of operations for the former business within discontinued operations. Accordingly, Ginkgo’s previously reported financial results for comparable periods have been retrospectively recast to conform to this presentation and reflect Ginkgo as a single reporting segment.
•First quarter 2026 Revenue of $19 million compared to $38 million in the comparable prior year period, a decrease of 49%. As previously reported, the first quarter of 2025 benefited from $7 million of non-cash revenue from previously announced release of deferred revenue relating to the mutual termination of a customer agreement. Excluding this non-cash deferred revenue release, first quarter 2026 Revenue of $19 million, down from $31 million in the comparable prior year period, a decrease of 37%. The decrease in revenue is primarily attributed to ongoing program rationalization as part of our restructuring activities.
•First quarter 2026 GAAP net loss from continuing operations of $(76) million, compared to $(83) million in the comparable prior year period.
•First quarter 2026 Adjusted EBITDA of $(42) million, down from $(44) million in the comparable prior year period.
•Cash, cash equivalents and marketable securities balance as of March 31, 2026 of $373 million.
"We believe autonomous labs will replace the lab bench more quickly than people think," said Jason Kelly, Co-founder and CEO of Ginkgo Bioworks. "Nebula is already the world's largest autonomous lab with the ability to run real customer science around the clock and we're targeting to double its size this year. We see a large market that remains overwhelmingly manual today, and every experiment our Solutions, Datapoints, and Cloud Lab businesses run on Nebula generates revenue today while making the platform better for tomorrow. Ginkgo is singularly focused on leading the transition from the lab bench to autonomous research infrastructure that runs 24/7 and integrates directly with the AI models transforming drug discovery and industrial biotechnology."
Recent Business Highlights & Strategic Positioning
•We believe that autonomous labs will replace the bench.
◦The return on investment of the autonomous lab is clear for customers, with millions of square feet and tens of billions per year being spent on work happening at the lab bench
◦The autonomous lab is a machine that can run 24/7 and can be seamlessly integrated into emerging AI models
•Nebula, our autonomous lab, is showing what is possible at the bleeding edge.
◦Nebula is the world’s largest autonomous lab and in 2026 we are aiming to double its size
◦Recent coverage positions Ginkgo at the frontier of scientific innovation in the scientific (Nature), trade (R&D World), mainstream (Forbes, The Washington Post), and tech press (Sequoia’s Training Data, TBPN)
◦Policymakers and heads of R&D visit for our internal demonstrations. During SLAS 2026, over 500 visitors came to tour Nebula
•Cloud Lab, Datapoints, and Solutions are our version of Starlink.
◦They both create revenue and speed the development of the autonomous lab
◦We are seeing traction with our Cloud Lab from partners such as ProQR and Amazon, who included us as an integrated wet lab partner on their Amazon Bio Discovery platform
Full Year 2026 Outlook
•Ginkgo reaffirms expected total cash burn of $(150)-$(125) million in 2026.
Conference Call Details
Ginkgo will host a videoconference today, Thursday, May 7, beginning at 4:30 p.m. ET. The presentation will include an overview of the first quarter 2026, recent business updates, a discussion on Ginkgo’s outlook, as well as a moderated question and answer session.
To ask a question ahead of the presentation, please submit your questions to @Ginkgo on X (hashtag #GinkgoResults) or by sending an e-mail to investors@ginkgobioworks.com.
A webcast link is available on Ginkgo's Investor Relations website and a replay will be made available following the presentation.
Ginkgo Investor Website: https://investors.ginkgobioworks.com/events/
Audio-Only Dial Ins:
+1 646 876 9923 (New York - ET)
+1 301 715 8592 (Washington DC - ET)
+1 305 224 1968 (Miami - ET)
+1 689 278 1000 (Orlando - ET)
+1 312 626 6799 (Chicago - CT)
+1 507 473 4847 (Minnesota - CT)
+1 346 248 7799 (Houston - CT)
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Webinar ID: 931 5925 7666
If you experience technical difficulties with any of these dial-ins or if you need international dial-in numbers, please visit our website at https://investors.ginkgobioworks.com/events/ for updated dial-in information.
About Ginkgo Bioworks
Ginkgo Bioworks builds the tools that make biology easier to engineer for everyone. The company offers autonomous laboratories that replace manual laboratory work with robotics in the lab, greatly improving the productivity of scientists. Ginkgo's in-house autonomous lab is also available as a "Cloud Lab" through our Datapoints and Solutions contract research services. For more information, visit ginkgobioworks.com, read our blog, or follow us on social media channels such as X (@Ginkgo), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks), or LinkedIn.
Forward-Looking Statements of Ginkgo Bioworks
This press release, the presentation, and 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 adaptations to meet our customers’ needs and the integration of our autonomous lab platform with third-party artificial intelligence models, strategies, including with respect to our current expectations, operations and anticipated results of operations, both business and financial, including the timing for attaining Adjusted EBITDA breakeven, potential customer success, including successful application of our offerings by our customers, expected benefits from our strategic partnerships and collaborations (including with named partners such as ProQR and Amazon), the anticipated growth, scaling, capacity, capabilities and competitive position of our autonomous lab (including Nebula) and of our Cloud Lab, Datapoints and Solutions offerings, our beliefs and estimates regarding the size, composition, growth and pace of adoption of the market for autonomous laboratory and related services (including the displacement of manual laboratory work), expectations regarding the development, performance and future enhancements of our platform, and expectations with regard to revenue, including our ability to meet all milestones and achieve the maximum revenue available under certain of our customer arrangements, expenses, our full year 2026 outlook including the total cash burn guidance, and the market environment, all of which are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, market trends, or industry results to differ materially from those
expressed or implied by such forward-looking statements. These forward-looking statements generally are identified by the words "believe," "can," "project," "potential," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," "target," "goal," "aim," "design," "forecast," "outlook," "guidance," "seek" "position," and similar expressions, as well as the negatives of such terms. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) our ability to realize near-term and long-term cost savings associated with our site consolidation plans, including the ability to terminate leases or find sub-lease tenants for unused facilities, (ii) volatility in the price of Ginkgo's securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo operates and plans to operate, variations in performance across competitors, and changes in laws and regulations affecting Ginkgo's business, (iii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, including with respect to our solutions and tools offerings, (iv) the risk of downturns in demand for products using synthetic biology, (v) the uncertainty regarding the demand for passive monitoring programs and biosecurity services, (vi) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vii) the outcome of any pending or potential legal proceedings against Ginkgo, (viii) our ability to realize the expected benefits from and the success of our platform programs and assets, (ix) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, (x) the product development, production or manufacturing success of our customers, (xi) our exposure to the volatility and liquidity risks inherent in holding equity interests in other operating companies and other non-cash consideration we may receive for our services, (xii) the potential negative impact on our business of our restructuring or the failure to realize the anticipated savings associated therewith, (xiii) the uncertainty regarding government budgetary priorities and funding allocated to government agencies, including potential adverse effects from the U.S. government shutdown, (xiv) our ability to scale, expand the capacity of, and continue to develop the capabilities of our autonomous lab (including Nebula) on the timelines and to the extent we anticipate, (xv) the pace and degree to which autonomous laboratory infrastructure is adopted by, and displaces manual laboratory work in, the broader life sciences and industrial biotechnology markets, (xvi) the actual size, composition and growth of the addressable markets we target, which may differ materially from our estimates, (xvii) our ability to integrate our autonomous lab platform with third-party artificial intelligence models and other technologies, and the rate of development and adoption of such technologies, and (xviii) our ability to maintain and expand strategic partnerships and customer relationships, including those with named partners referenced in this release. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Ginkgo's annual report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on February 26, 2026 and other documents filed by Ginkgo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Ginkgo assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ginkgo does not give any assurance that it will achieve its expectations.
Use of Non-GAAP Financial Measures
Certain of the financial measures included in this release, including Adjusted EBITDA, cash flow and cash burn, have not been prepared in accordance with generally accepted accounting principles ("GAAP"), and constitute "non-GAAP financial measures" as defined by the SEC. Ginkgo has included these non-GAAP financial measures because it believes they provide an additional tool for investors to use in evaluating Ginkgo's financial performance and prospects. Due to the nature and/or size of the items being excluded, such items do not reflect future gains, losses, expenses or benefits and are not indicative of our future operating performance. These non-GAAP financial measures are supplemental to, and should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. In addition, these non-GAAP financial measures may differ from non-GAAP financial measures with comparable names used by other companies. See the reconciliation below for additional information regarding certain of the non-GAAP financial measures included in this release, including a description of these non-GAAP financial measures and a reconciliation of the historic measures to Ginkgo's most comparable GAAP financial measures. Ginkgo does not reconcile its forward-looking non-GAAP financial measures to the corresponding GAAP measures, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible; and because not all of the information, such as unrealized equity gains and losses necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure, can be predicted with reasonable accuracy and is available to Ginkgo without unreasonable efforts. For the same reasons, Ginkgo is unable to address the probable significance of the unavailable information. Ginkgo provides non-GAAP financial
measures that it believes will be achieved, however it cannot accurately predict all of the components of the adjusted calculations and the GAAP measures may be materially different than the non-GAAP measures.
Ginkgo Bioworks Contacts:
INVESTOR CONTACT:
investors@ginkgobioworks.com
MEDIA CONTACT:
press@ginkgobioworks.com
Ginkgo Bioworks Holdings, Inc.
Condensed Consolidated Balance Sheets
(unaudited)
(in thousands, except share data)
| As of March 31, 2026 | As of December 31, 2025 | ||||||||||
Assets | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ 143,864 | $ 167,202 | |||||||||
Marketable securities | 229,592 | 255,418 | |||||||||
Accounts receivable, net | 19,815 | 24,026 | |||||||||
Accounts receivable - related parties | 454 | 229 | |||||||||
Prepaid expenses and other current assets | 16,230 | 24,963 | |||||||||
Total current assets | 409,955 | 471,838 | |||||||||
Property, plant and equipment, net | 163,020 | 167,371 | |||||||||
Operating lease right-of-use assets | 353,804 | 360,918 | |||||||||
Investments | 14,703 | 15,066 | |||||||||
Intangible assets, net | 48,860 | 53,482 | |||||||||
Other non-current assets | 39,522 | 47,167 | |||||||||
Assets held for sale | 3,211 | 3,854 | |||||||||
Total assets | $ 1,033,075 | $ 1,119,696 | |||||||||
Liabilities and Stockholders’ Equity | |||||||||||
Current liabilities: | |||||||||||
Accounts payable | $ 16,309 | $ 10,566 | |||||||||
Deferred revenue (includes $98 and $98 from related parties) | 14,910 | 18,946 | |||||||||
Accrued expenses and other current liabilities | 48,376 | 66,458 | |||||||||
Total current liabilities | 79,595 | 95,970 | |||||||||
Non-current liabilities: | |||||||||||
Deferred revenue, net of current portion (includes $64,810 and $64,787 from related parties) | 77,895 | 75,182 | |||||||||
Operating lease liabilities, non-current | 410,700 | 417,078 | |||||||||
Other non-current liabilities | 21,732 | 22,876 | |||||||||
Total liabilities | 589,922 | 611,106 | |||||||||
Commitments and contingencies (Note 10) | |||||||||||
Stockholders’ equity: | |||||||||||
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; none issued | — | — | |||||||||
| Common stock, $0.0001 par value (Note 8) | 6 | 6 | |||||||||
Additional paid-in capital | 6,674,860 | 6,657,053 | |||||||||
Accumulated deficit | (6,232,907) | (6,150,320) | |||||||||
Accumulated other comprehensive income | 1,194 | 1,851 | |||||||||
Total stockholders’ equity | 443,153 | 508,590 | |||||||||
Total liabilities and stockholders’ equity | $ 1,033,075 | $ 1,119,696 | |||||||||
Ginkgo Bioworks Holdings, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Loss
(unaudited)
(in thousands, except share data)
| Three Months Ended March 31, | |||||||||||
2026 | 2025 | ||||||||||
Revenue (1) | $ 19,474 | $ 38,230 | |||||||||
Costs and operating expenses: | |||||||||||
Cost of other revenue | 3,098 | 4,090 | |||||||||
Research and development | 49,920 | 70,923 | |||||||||
General and administrative | 37,830 | 39,723 | |||||||||
Restructuring charges | — | 4,466 | |||||||||
Total operating expenses | 90,848 | 119,202 | |||||||||
Loss from operations | (71,374) | (80,972) | |||||||||
Other income (expense): | |||||||||||
Interest income, net | 3,596 | 6,081 | |||||||||
Loss on investments | (1,214) | (3,693) | |||||||||
Other expense, net | (7,147) | (4,638) | |||||||||
Total other expense | (4,765) | (2,250) | |||||||||
Loss from continuing operations before income taxes | (76,139) | (83,222) | |||||||||
Income tax (benefit) expense | (80) | 88 | |||||||||
Net loss from continuing operations | $ (76,059) | $ (83,310) | |||||||||
Net loss from discontinued operations, net of tax | (6,528) | (7,647) | |||||||||
Net loss | $ (82,587) | $ (90,957) | |||||||||
Net loss per share: | |||||||||||
Basic from continuing operations | $ (1.28) | $ (1.54) | |||||||||
Basic from discontinued operations | (0.11) | (0.14) | |||||||||
Basic | $ (1.39) | $ (1.68) | |||||||||
Weighted average common shares outstanding: | |||||||||||
Basic | 59,563,454 | 54,241,619 | |||||||||
Comprehensive loss: | |||||||||||
Net loss | (82,587) | (90,957) | |||||||||
Other comprehensive (loss) income: | |||||||||||
Foreign currency translation adjustment | (579) | 849 | |||||||||
Unrealized gains (loss) on available-for-sale securities | (78) | 107 | |||||||||
Total other comprehensive (loss) income | (657) | 956 | |||||||||
Comprehensive loss | $ (83,244) | $ (90,001) | |||||||||
(1)includes related party revenue of zero and $8,098 for the three months ended March 31, 2026 and 2025, respectively.
Ginkgo Bioworks Holdings, Inc.
Condensed Consolidated Statements of Cash Flows
(unaudited)
(in thousands)
| Three Months Ended March 31, | |||||||||||
2026 | 2025 | ||||||||||
Cash flows from operating activities: | |||||||||||
Net loss from continuing operations | $ (76,059) | $ (83,310) | |||||||||
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||
Depreciation and amortization | 12,799 | 14,822 | |||||||||
Stock-based compensation | 15,853 | 17,386 | |||||||||
Loss on investments | 1,214 | 3,693 | |||||||||
Change in fair value of notes receivable | 6,759 | 5,285 | |||||||||
Change in fair value of contingent consideration | — | (1,302) | |||||||||
Non-cash lease expense | 7,114 | 7,379 | |||||||||
Accretion of discount on marketable securities | (120) | — | |||||||||
Other non-cash activity | 185 | 149 | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable | (242) | (667) | |||||||||
Prepaid expenses and other current assets | 5,930 | (581) | |||||||||
Operating lease right-of-use assets | — | 3,675 | |||||||||
Other non-current assets | 94 | (167) | |||||||||
Accounts payable, accrued expenses and other current liabilities | (11,601) | 8,869 | |||||||||
Deferred revenue, current and non-current (includes zero and $(7,878) from related parties) | (2,606) | (13,190) | |||||||||
Operating lease liabilities, current and non-current | (4,995) | (4,790) | |||||||||
Other non-current liabilities | (758) | — | |||||||||
Net cash used in operating activities - continuing operations | (46,433) | (42,749) | |||||||||
Net cash used in operating activities - discontinued operations | (253) | (8,772) | |||||||||
Net cash used in operating activities | (46,686) | (51,521) | |||||||||
Cash flows from investing activities: | |||||||||||
Purchases of marketable debt securities | (83,161) | (191,182) | |||||||||
Maturities of marketable debt securities | 108,178 | — | |||||||||
Purchases of property and equipment | (1,933) | (7,622) | |||||||||
Other | 48 | 120 | |||||||||
Net cash provided by (used in) investing activities | 23,132 | (198,684) | |||||||||
Cash flows from financing activities: | |||||||||||
Principal payments on finance leases | (19) | (207) | |||||||||
Net cash used in financing activities | (19) | (207) | |||||||||
Effect of foreign exchange rates on cash and cash equivalents | (129) | 74 | |||||||||
Net decrease in cash, cash equivalents and restricted cash | (23,702) | (250,338) | |||||||||
Cash and cash equivalents, beginning of period | 167,202 | 561,572 | |||||||||
Restricted cash, beginning of period | 45,169 | 44,171 | |||||||||
Cash, cash equivalents and restricted cash, beginning of period | 212,371 | 605,743 | |||||||||
Cash and cash equivalents, end of period | 143,864 | 312,420 | |||||||||
Restricted cash, end of period | 44,805 | 42,985 | |||||||||
Cash, cash equivalents and restricted cash, end of period | $ 188,669 | $ 355,405 | |||||||||
The following table presents summary results of the Company’s reportable segment, including significant expenses, and a reconciliation to loss from continuing operations before income taxes (in thousands):
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Revenue | $ 19,474 | $ 38,230 | |||||||||
| Costs and operating expenses: | |||||||||||
Cost of other revenue (1) | 2,672 | 3,121 | |||||||||
Research and development (1) | 30,105 | 48,670 | |||||||||
General and administrative (1) | 12,723 | 19,654 | |||||||||
Stock-based compensation (2) | 16,708 | 17,713 | |||||||||
| Depreciation and amortization | 12,799 | 14,822 | |||||||||
Restructuring charges (3) | — | 4,466 | |||||||||
Carrying cost of excess space (net of sublease income) (4) | 15,842 | 11,674 | |||||||||
Merger and acquisition related expense (income) (5) | — | (918) | |||||||||
Other (income) expense, net (6) | 4,764 | 2,250 | |||||||||
| Loss from continuing operations before income taxes | $ (76,139) | $ (83,222) | |||||||||
(1) The costs and operating expenses exclude expenses which are separately captioned below.
(2) Includes $0.9 million and $0.4 million in employer payroll taxes for three months ended March 31, 2026 and 2025, respectively.
(3) See Note 3, Restructuring, for composition of costs.
(4) The carrying cost of excess space includes base rent, common area maintenance charges, and real estate taxes associated with facilities the Company is not occupying, net of any sublease income from these spaces.
(5) Represents transaction and integration costs directly related to mergers and acquisitions, including: (i) legal, consulting, and accounting fees associated with acquisitions; (ii) post-acquisition employee retention bonuses; (iii) (gain)/loss from changes in the fair value of contingent consideration liabilities resulting from acquisitions; and (iv) securities litigation costs.
(6) Includes interest income, interest expense, loss on investments, changes in fair value of certain assets and liabilities, and other gains and losses.
Three Months Ended March 31, | |||||||||||
(in thousands) | 2026 | 2025 | |||||||||
Net loss from continuing operations (1) | $ (76,059) | $ (83,310) | |||||||||
Interest income, net | (3,596) | (6,081) | |||||||||
Income tax (benefit) expense | (80) | 88 | |||||||||
Depreciation and amortization | 12,799 | 14,822 | |||||||||
EBITDA | (66,936) | (74,481) | |||||||||
Stock-based compensation (2) | 16,708 | 17,713 | |||||||||
Restructuring charges (3) | — | 4,466 | |||||||||
Merger and acquisition related (income) expense (4) | — | (918) | |||||||||
Loss (gain) on investments | 1,214 | 3,693 | |||||||||
Change in fair value of notes receivable | 6,759 | 5,285 | |||||||||
Adjusted EBITDA | $ (42,255) | $ (44,242) | |||||||||
(1)All periods include non-cash revenue when earned, including $7.5 million recognized in the three months ended March 31, 2025, pursuant to the release of deferred revenue related to the mutual termination of a customer agreement.
(2)Includes $0.9 million and $0.4 million in employer payroll taxes for the three months ended March 31, 2026 and 2025, respectively.
(3)Restructuring charges primarily consist of employee termination costs from the reduction in force commenced in June 2024.
(4)Represents transaction and integration costs directly related to mergers and acquisitions, including: (i) legal, consulting, and accounting fees associated with acquisitions; (ii) post-acquisition employee retention bonuses; (iii) (gain)/loss from changes in the fair value of contingent consideration liabilities resulting from acquisitions; and (iv) securities litigation costs. Not included in this adjustment are acquired in-process research and development expenses, which totaled zero for both the three months ended March 31, 2026 and 2025, respectively.
FAQ
How did Ginkgo Bioworks (DNA) perform financially in Q1 2026?
Ginkgo Bioworks reported Q1 2026 revenue of $19.5 million, down 49% year over year. GAAP net loss from continuing operations was $76.1 million, with Adjusted EBITDA at a loss of $42.3 million, reflecting continued investment and restructuring impacts.
What impact did the Biosecurity divestiture have on Ginkgo Bioworks’ results?
Ginkgo completed the divestiture of its Biosecurity business on April 3, 2026, and now reports that unit as discontinued operations. Historical periods have been recast, leaving Ginkgo presented as a single reporting segment focused on its core autonomous lab and related offerings.
What is Ginkgo Bioworks’ cash position and cash burn outlook for 2026?
As of March 31, 2026, Ginkgo held $373 million in cash, cash equivalents and marketable securities, and $188.7 million including restricted cash. Management reaffirmed expected full-year 2026 total cash burn between $(150) million and $(125) million.
How are Ginkgo Bioworks’ losses trending compared to last year?
GAAP net loss from continuing operations in Q1 2026 was $76.1 million, slightly improved from $83.3 million in Q1 2025. Adjusted EBITDA loss was $42.3 million versus $44.2 million a year earlier, indicating modest progress on operating losses.
What revenue drivers and headwinds did Ginkgo Bioworks highlight for Q1 2026?
Revenue declined to $19.5 million, largely due to program rationalization from restructuring activities and the absence of prior non-cash deferred revenue releases. Management emphasized growth in its Nebula autonomous lab, Cloud Lab, Datapoints and Solutions businesses as future revenue contributors.
What strategic focus did Ginkgo Bioworks outline around its autonomous lab Nebula?
Ginkgo highlighted Nebula as the world’s largest autonomous lab and aims to double its size in 2026. The company positions Nebula, along with Cloud Lab, Datapoints and Solutions, as core to replacing manual lab work and integrating with emerging AI-driven discovery workflows.