Ginkgo Bioworks Holdings, Inc. (DNA) SEC Filings & Earnings Calls

Customer concentration and program dependency

“Revenue decrease was primarily due to a decrease in the scope of services provided to a large enterprise customer in the agriculture industry and decrease in programs with large enterprise customers primarily in the pharmaceutical and biotechnology industries.”

Cash burn and liquidity runway

“We anticipate that our expenditures will exceed our revenue through at least the next 12 months from the date of filing of this Quarterly Report on Form 10-Q.” · word for word

Restricted cash from surety bond

“In April 2026, the Company was required to restrict $47.0 million of cash and cash equivalents to secure a surety bond of the same amount to fulfill its obligations under a contract with a U.S. Government National Laboratory related to the sale of RAC automation equipment.” · word for word

Revenue decline of 48% YoY due to program rationalization; company is in restructuring mode with significant cash burn.

“The decrease in revenue is primarily attributed to ongoing program rationalization as part of our restructuring activities.” · word for word

Cash burn guidance of ($150)-($125)M for FY2026 implies continued negative cash flow; runway of $302M provides ~2 years of funding at current burn rate.

“Ginkgo reaffirms expected total cash burn of ($150)-($125) million in 2026.” · word for word

Revenue decline due to program rationalization and divestiture; ongoing restructuring.

“The decrease in revenue is primarily attributed to ongoing program rationalization as part of our restructuring activities.” · word for word

Customer concentration risk

“a decrease in the scope of services provided to a large enterprise customer in the agriculture industry” · word for word

Cash restriction risk

“In April 2026, the Company was required to restrict $47.0 million of cash and cash equivalents to secure a surety bond... expected to be restricted until 2029.” · word for word

Founder control risk

“All Directors and Executive Officers of Ginkgo as a Group (8 individuals) 1,748,360 3.3% 6,138,795 68.5% 44.2%” · word for word

Cash burn risk

“Adjusted Cash Flow ($ Millions) (i) 2025: (157)”

Loss of biosecurity segment revenue and operations

“Substantially all of the Company’s operations comprising its Biosecurity segment were divested.” · word for word

Execution risk in closing the transaction and potential loss of key segment revenue.

“Transaction subject to customary closing conditions; forward-looking statements highlight risks including ability to consummate in timely manner.”

Revenue decline across both segments; restructuring and divestiture signal ongoing business model transition

“Total revenue down 25% YoY; Cell Engineering down 24%; Biosecurity down 30%; divesting biosecurity business”

Going concern risk due to accumulated losses

“We have incurred significant operating losses since our inception. As of December 31, 2025, we had an accumulated deficit of approximately $6.2 billion.” · word for word

Customer concentration risk

“For the year ended December 31, 2025, one customer in the Cell Engineering segment accounted for 15% of the Company’s total revenue, while one customer in the Biosecurity segment accounted for 12% of the Company’s total revenue.” · word for word

Supply chain dependency on single-source suppliers

“We depend on a limited number of suppliers, some of which are single-source suppliers, and contract manufacturers for critical supplies, equipment, and services for research, development, and manufacturing of our products and processes.” · word for word

Leadership transition risk as COO duties are reassigned, but founder remains in key role.

“Dr. Shetty will transition her Chief Operating Officer duties to Jennifer Wipf and Dr. Jason Kelly.”

Revenue decline and widening losses indicate operational challenges.

“Total revenue down 56% YoY; GAAP net loss increased to $(81)M from $(56)M.”

Dependence on non-recurring revenue items (deferred revenue release) distorts comparability.

“Prior year included $45M non-cash revenue from mutual termination of a customer agreement.”

Customer concentration and related-party revenue decline

“Includes related party revenue of zero and $46,659 for the three months ended September 30, 2025 and 2024, respectively.” · word for word

Cash burn and going concern risk

“Net cash used in operating activities $123,381 thousand for 9M 2025; cash and cash equivalents $111,065 thousand as of Sep 2025.”

Restructuring execution risk

“The actual timing for subleasing unused or underutilized facilities is expected to extend into 2026 or may not occur prior to termination of such lease.” · word for word