Ginkgo Bioworks (DNA) Financials

$12.87 +0.70 (+5.72%)

As of 01:08 PM Eastern

Annual Income Statements for Ginkgo Bioworks

This table shows Ginkgo Bioworks' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-119	-127	-1,830	-2,105	-893	-547
Consolidated Net Income / (Loss)	-120	-127	-1,837	-2,106	-893	-547
Net Income / (Loss) Continuing Operations	-120	-127	-1,837	-2,106	-893	-547
Total Pre-Tax Income	-120	-125	-1,838	-2,121	-893	-548
Total Operating Income	-72	-137	-1,828	-2,209	-864	-560
Total Gross Profit	54	61	184	273	197	182
Total Revenue	54	77	314	478	251	227
Operating Revenue	54	77	314	478	251	227
Total Cost of Revenue	0.00	16	130	204	54	45
Operating Cost of Revenue	0.00	16	130	204	54	45
Total Operating Expenses	126	198	2,013	2,482	1,062	742
Selling, General & Admin Expense	29	38	863	1,430	385	246
Research & Development Expense	96	160	1,150	1,053	581	424
Impairment Charge	-	-	0.00	0.00	96	48
Restructuring Charge	-	-	-	0.00	0.00	24
Total Other Income / (Expense), net	-48	12	-9.66	88	-29	12
Interest Expense	2.42	2.39	2.37	0.11	0.09	0.09
Interest & Investment Income	-49	-1.55	-88	-45	-43	2.77
Other Income / (Expense), net	3.16	16	81	133	14	9.57
Income Tax Expense	0.02	1.89	-1.48	-15	-0.07	-0.48
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.53	-0.11	-6.60	-1.44	0.00	0.00
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	0.00	0.00	-1.49
Basic Earnings per Share	($0.10)	($0.10)	($1.35)	($50.15)	($18.37)	($10.54)
Weighted Average Basic Shares Outstanding	1.15B	1.27B	1.36B	41.98M	48.61M	51.89M
Diluted Earnings per Share	($0.10)	($0.10)	($1.39)	($50.20)	($18.37)	($10.54)
Weighted Average Diluted Shares Outstanding	1.15B	1.27B	1.36B	42.00M	48.61M	51.89M
Weighted Average Basic & Diluted Shares Outstanding	-	-	1.47B	1.95B	2.15B	58.03M

This table shows Ginkgo Bioworks' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-670	-175	-205	-173	-303	-212	-175	-217	-55	-109	-98
Consolidated Net Income / (Loss)	-670	-173	-205	-173	-303	-212	-166	-217	-56	-108	-91
Net Income / (Loss) Continuing Operations	-670	-173	-205	-173	-303	-212	-175	-217	-56	-108	-98
Total Pre-Tax Income	-670	-188	-205	-173	-303	-212	-166	-217	-57	-108	-91
Total Operating Income	-655	-231	-216	-184	-286	-178	-178	-223	-55	-104	-89
Total Gross Profit	42	68	58	62	49	28	20	42	77	34	29
Total Revenue	66	98	81	81	55	35	38	56	89	44	48
Operating Revenue	66	98	81	81	55	35	38	56	89	44	48
Total Cost of Revenue	25	30	22	18	6.92	6.61	18	14	12	9.62	19
Operating Cost of Revenue	25	30	22	18	6.92	6.61	18	14	12	9.62	19
Total Operating Expenses	697	299	274	247	335	206	207	265	132	138	125
Selling, General & Admin Expense	435	121	111	102	82	89	70	66	52	57	49
Research & Development Expense	261	178	163	144	157	117	136	134	77	76	71
Restructuring Charge	-	-	-	0.00	0.00	-	0.00	17	2.95	-	5.27
Total Other Income / (Expense), net	-15	43	11	11	-17	-34	12	5.95	-1.57	-4.25	-1.90
Interest Expense	-6.38	8.57	-15	-14	-15	44	-12	-10	-	-	-6.08
Interest & Investment Income	-8.48	17	-7.82	-2.19	-36	3.58	-2.54	-6.83	-4.67	17	-3.69
Other Income / (Expense), net	-13	35	4.13	-1.26	4.78	6.65	2.96	2.47	3.10	1.05	-4.29
Income Tax Expense	-0.03	-15	0.08	0.07	-0.02	-0.20	0.03	0.19	-0.38	-0.33	0.09
Basic Earnings per Share	($0.41)	($4.18)	($0.11)	($0.09)	($6.21)	($4.35)	($3.31)	($0.11)	($1.08)	($2.10)	($1.68)
Weighted Average Basic Shares Outstanding	1.63B	41.98M	1.91B	1.93B	48.77M	48.61M	50.11M	2.05B	52.24M	51.89M	54.24M
Diluted Earnings per Share	($0.41)	($4.18)	($0.11)	($0.09)	($6.21)	($4.35)	($3.32)	($0.11)	($1.08)	($2.10)	($1.68)
Weighted Average Diluted Shares Outstanding	1.63B	42.00M	1.92B	1.93B	48.77M	48.61M	50.13M	2.06B	52.25M	51.89M	54.24M
Weighted Average Basic & Diluted Shares Outstanding	1.94B	1.95B	2.09B	1.98B	2.12B	2.15B	2.21B	2.22B	57.48M	58.03M	58.53M

This table details how cash moves in and out of Ginkgo Bioworks' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	291	-113	1,207	-223	-380	-384
Net Cash From Operating Activities	-45	-136	-254	-252	-296	-320
Net Cash From Continuing Operating Activities	-45	-136	-254	-252	-296	-320
Net Income / (Loss) Continuing Operations	-120	-127	-1,837	-2,106	-893	-547
Consolidated Net Income / (Loss)	-120	-127	-1,837	-2,106	-893	-547
Depreciation Expense	11	14	29	43	71	63
Non-Cash Adjustments To Reconcile Net Income	63	4.59	1,622	1,878	498	275
Changes in Operating Assets and Liabilities, net	1.48	-28	-68	-66	29	-111
Net Cash From Investing Activities	-75	-67	-73	-67	-81	-62
Net Cash From Continuing Investing Activities	-75	-67	-73	-67	-81	-62
Purchase of Property, Plant & Equipment	-22	-58	-57	-52	-41	-63
Acquisitions	0.00	0.00	-12	75	0.00	-5.40
Purchase of Investments	-50	0.00	-5.00	-59	-43	0.00
Sale of Property, Plant & Equipment	-	-	0.00	0.00	4.43	0.65
Sale and/or Maturity of Investments	-	-	0.30	10	0.00	4.52
Other Investing Activities, net	-2.25	-9.30	0.00	-40	-1.34	0.54
Net Cash From Financing Activities	410	90	1,534	95	-3.22	-1.74
Net Cash From Continuing Financing Activities	410	90	1,534	95	-3.22	-1.74
Repurchase of Common Equity	-0.41	0.00	-25	-1.47	-0.58	-0.00
Issuance of Common Equity	0.00	0.00	60	99	0.00	0.00
Other Financing Activities, net	-0.35	-0.72	1,499	-2.50	-2.64	-1.74
Effect of Exchange Rate Changes	0.00	0.00	-0.02	0.91	-0.59	-0.28

This table details how cash moves in and out of Ginkgo Bioworks' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-75	24	-111	-87	-77	-105	-102	-111	-114	-56	-250
Net Cash From Operating Activities	-28	-105	-91	-74	-74	-58	-89	-84	-104	-42	-52
Net Cash From Continuing Operating Activities	-28	-105	-91	-74	-74	-58	-89	-84	-104	-42	-52
Net Income / (Loss) Continuing Operations	-670	-173	-205	-173	-303	-212	-166	-217	-56	-108	-91
Consolidated Net Income / (Loss)	-670	-173	-205	-173	-303	-212	-166	-217	-56	-108	-91
Depreciation Expense	8.92	16	19	18	21	13	13	17	17	16	15
Non-Cash Adjustments To Reconcile Net Income	593	90	91	92	214	101	64	121	37	53	41
Changes in Operating Assets and Liabilities, net	41	-37	4.00	-10	-5.24	40	-0.61	-5.28	-101	-3.48	-17
Net Cash From Investing Activities	-46	30	-19	-11	-3.38	-47	-12	-27	-10	-13	-199
Net Cash From Continuing Investing Activities	-59	30	-19	-11	-3.38	-47	-12	-27	-10	-13	-199
Purchase of Property, Plant & Equipment	-13	-26	-19	-14	-4.38	-3.45	-6.71	-27	-15	-14	-7.62
Acquisitions	-	-	0.00	-	-	-	-5.40	-	-	-	0.00
Purchase of Investments	-37	10	-	-	-	-	0.00	-	-	-	-191
Other Investing Activities, net	-7.66	-39	0.03	-0.62	0.93	-1.68	0.00	-	0.54	-	0.12
Net Cash From Financing Activities	-0.39	98	-0.89	-1.38	-0.32	-0.63	-0.85	-0.23	-0.47	-0.20	-0.21
Net Cash From Continuing Financing Activities	-0.39	98	-0.89	-1.38	-0.32	-0.63	-0.85	-0.23	-0.47	-0.20	-0.21
Repurchase of Common Equity	-	-	-0.58	-	-	-	0.00	-	-	-	0.00
Other Financing Activities, net	-0.30	-1.07	-0.31	-1.36	-0.31	-0.66	-0.85	-0.23	-0.46	-0.20	-0.21
Effect of Exchange Rate Changes	-0.09	1.10	-0.03	-0.47	-0.20	0.10	-0.16	-0.02	-0.04	-0.07	0.07

This table presents Ginkgo Bioworks' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	675	2,071	2,539	1,665	1,377
Total Current Assets	427	1,723	1,450	1,002	603
Cash & Equivalents	381	1,550	1,316	944	562
Short-Term Investments	-	102	-	-	0.00
Accounts Receivable	22	132	82	18	22
Prepaid Expenses	21	34	52	40	19
Plant, Property, & Equipment, net	121	146	315	188	204
Total Noncurrent Assets	127	87	774	475	571
Long-Term Investments	29	-	114	79	49
Intangible Assets	3.29	22	111	83	73
Other Noncurrent Operating Assets	80	44	489	265	450
Total Liabilities & Shareholders' Equity	675	2,071	2,539	1,665	1,377
Total Liabilities	205	504	803	568	661
Total Current Liabilities	73	135	173	164	107
Accounts Payable	14	8.19	10	9.32	14
Accrued Expenses	31	93	115	110	65
Current Deferred Revenue	29	33	48	44	28
Total Noncurrent Liabilities	132	369	630	404	554
Noncurrent Deferred Revenue	112	175	175	158	99
Other Noncurrent Operating Liabilities	3.03	194	455	246	455
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	470	1,567	1,736	1,097	716
Total Preferred & Common Equity	461	1,505	1,736	1,097	716
Preferred Stock	0.00	0.00	0.00	0.00	0.00
Total Common Equity	461	1,505	1,736	1,097	716
Common Stock	929	3,805	6,137	6,386	6,555
Retained Earnings	-468	-2,298	-4,398	-5,291	-5,838
Accumulated Other Comprehensive Income / (Loss)	0.00	-1.72	-2.63	1.48	-1.81

This table presents Ginkgo Bioworks' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	1,871	2,417	2,292	2,026	1,582	1,625	1,481	1,293
Total Current Assets	1,462	1,327	1,223	1,142	903	783	662	565
Cash & Equivalents	1,303	1,206	1,106	1,049	840	730	616	312
Short-Term Investments	-	-	-	-	-	-	-	205
Accounts Receivable	116	85	69	63	25	19	24	27
Prepaid Expenses	38	34	48	29	38	34	22	20
Plant, Property, & Equipment, net	188	314	294	202	196	211	211	198
Total Noncurrent Assets	221	776	774	683	483	631	607	531
Long-Term Investments	4.14	1.19	1.12	86	76	62	62	32
Intangible Assets	48	109	105	100	77	91	80	69
Other Noncurrent Operating Assets	140	607	609	439	281	478	466	430
Total Liabilities & Shareholders' Equity	1,871	2,417	2,292	2,026	1,582	1,625	1,481	1,293
Total Liabilities	431	810	788	774	594	792	683	646
Total Current Liabilities	125	192	163	168	169	166	114	116
Accounts Payable	11	22	14	11	27	23	16	11
Accrued Expenses	73	123	110	115	108	117	76	71
Current Deferred Revenue	41	48	39	43	34	26	23	34
Total Noncurrent Liabilities	306	618	625	605	425	626	569	530
Noncurrent Deferred Revenue	172	175	180	170	166	153	105	80
Other Noncurrent Operating Liabilities	75	443	445	435	259	473	463	450
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,440	1,608	1,504	1,253	987	833	798	647
Total Preferred & Common Equity	1,435	0.00	0.00	1,253	987	833	798	647
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,435	1,608	1,504	1,253	987	833	798	647
Common Stock	5,669	6,212	6,281	6,334	6,445	6,508	6,528	6,577
Retained Earnings	-4,226	-4,603	-4,776	-5,079	-5,456	-5,674	-5,730	-5,929
Accumulated Other Comprehensive Income / (Loss)	-7.91	-1.61	-1.30	-2.90	-1.55	-1.72	0.26	-0.85

This table displays calculated financial ratios and metrics derived from Ginkgo Bioworks' official financial filings.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	41.48%	309.40%	52.21%	-47.36%	-9.71%
EBITDA Growth	0.00%	-85.57%	-1,505.68%	-18.33%	61.67%	37.51%
EBIT Growth	0.00%	-76.66%	-1,345.60%	-18.80%	59.06%	35.28%
NOPAT Growth	0.00%	-91.38%	-1,234.38%	-20.81%	60.87%	35.24%
Net Income Growth	0.00%	-5.73%	-1,349.34%	-14.69%	57.61%	38.73%
EPS Growth	0.00%	0.00%	-1,290.00%	-14.69%	57.61%	42.62%
Operating Cash Flow Growth	0.00%	-204.12%	-86.86%	0.64%	-17.17%	-8.15%
Free Cash Flow Firm Growth	0.00%	0.00%	-537.07%	-77.67%	80.93%	-13.48%
Invested Capital Growth	0.00%	0.00%	-233.33%	399.41%	-75.71%	41.96%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-9.51%	-20.17%	4.17%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	40.74%	2.69%	12.83%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	40.11%	2.79%	11.13%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	39.69%	5.75%	11.75%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	40.47%	-4.52%	16.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	40.47%	-4.52%	15.27%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-71.94%	19.48%	13.65%	4.60%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	34.19%	5.19%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	59.07%	-36.50%	-11.57%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	100.00%	79.64%	58.68%	57.25%	78.52%	80.38%
EBITDA Margin	-106.46%	-139.63%	-547.64%	-425.74%	-310.03%	-214.57%
Operating Margin	-132.14%	-178.75%	-582.62%	-462.41%	-343.76%	-246.54%
EBIT Margin	-126.30%	-157.72%	-556.90%	-434.65%	-338.07%	-242.33%
Profit (Net Income) Margin	-221.20%	-165.31%	-585.22%	-440.93%	-355.08%	-240.94%
Tax Burden Percent	100.02%	101.51%	99.92%	99.29%	99.99%	99.91%
Interest Burden Percent	175.10%	103.25%	105.17%	102.17%	105.04%	99.51%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-249.64%	0.00%	-1,513.72%	-317.41%	-434.65%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-233.97%	0.00%	-1,477.58%	-293.93%	-415.64%
Return on Net Nonoperating Assets (RNNOA)	0.00%	195.72%	0.00%	1,386.20%	254.38%	374.31%
Return on Equity (ROE)	0.00%	-53.92%	-180.29%	-127.52%	-63.02%	-60.34%
Cash Return on Invested Capital (CROIC)	0.00%	-449.64%	0.00%	-637.47%	-195.58%	-469.34%
Operating Return on Assets (OROA)	0.00%	-17.91%	-127.29%	-90.07%	-40.44%	-36.16%
Return on Assets (ROA)	0.00%	-18.77%	-133.76%	-91.38%	-42.47%	-35.96%
Return on Common Equity (ROCE)	0.00%	-52.91%	-174.02%	-125.12%	-63.02%	-60.34%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-27.47%	-122.01%	-121.32%	-81.38%	-76.39%
Net Operating Profit after Tax (NOPAT)	-50	-96	-1,280	-1,546	-605	-392
NOPAT Margin	-92.50%	-125.13%	-407.83%	-323.69%	-240.63%	-172.58%
Net Nonoperating Expense Percent (NNEP)	0.00%	-15.67%	-53.97%	-36.14%	-23.47%	-19.01%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-89.06%	-55.15%	-54.72%
Cost of Revenue to Revenue	0.00%	20.36%	41.32%	42.75%	21.48%	19.62%
SG&A Expenses to Revenue	54.41%	49.97%	274.97%	299.31%	153.12%	108.42%
R&D to Revenue	177.73%	208.42%	366.32%	220.35%	230.90%	186.78%
Operating Expenses to Revenue	232.14%	258.39%	641.29%	519.66%	422.28%	326.92%
Earnings before Interest and Taxes (EBIT)	-68	-121	-1,748	-2,076	-850	-550
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-58	-107	-1,719	-2,034	-780	-487
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	3.25	8.21	1.89	3.26	0.79
Price to Tangible Book Value (P/TBV)	0.00	3.29	8.45	2.09	3.71	0.88
Price to Revenue (P/Rev)	27.68	19.57	39.37	6.86	14.24	2.49
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	14.52	0.00	6.03	34.32	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	14.55	34.30	3.87	10.17	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.04	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.04	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-0.84	-1.01	-0.94	-0.87	-0.90
Leverage Ratio	0.00	1.44	1.35	1.40	1.48	1.68
Compound Leverage Factor	0.00	1.48	1.42	1.43	1.56	1.67
Debt to Total Capital	0.00%	3.39%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	3.39%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	1.78%	3.96%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	94.80%	96.04%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	-0.15	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	3.67	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	-0.15	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	-0.17	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	4.10	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	-0.17	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	3.57	11.45	-1.88	-1.60	-6.14
Noncontrolling Interest Sharing Ratio	0.00%	1.87%	3.48%	1.88%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	5.83	12.79	8.38	6.11	5.62
Quick Ratio	0.00	5.50	13.24	8.08	5.87	5.44
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-173	-1,101	-1,955	-373	-423
Operating Cash Flow to CapEx	-201.01%	-234.91%	-449.07%	-482.48%	-812.42%	-516.35%
Free Cash Flow to Firm to Interest Expense	0.00	-72.44	-463.81	-18,447.87	-4,009.08	-4,501.04
Operating Cash Flow to Interest Expense	-18.45	-56.95	-106.96	-2,379.23	-3,177.42	-3,399.84
Operating Cash Flow Less CapEx to Interest Expense	-27.63	-81.20	-130.78	-2,872.35	-3,568.53	-4,058.28
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.11	0.23	0.21	0.12	0.15
Accounts Receivable Turnover	0.00	3.50	4.09	4.46	5.01	11.26
Inventory Turnover	0.00	5.71	42.54	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.63	2.35	2.07	1.00	1.16
Accounts Payable Turnover	0.00	1.12	11.75	21.91	5.46	3.79
Days Sales Outstanding (DSO)	0.00	104.30	89.23	81.76	72.84	32.43
Days Inventory Outstanding (DIO)	0.00	63.97	8.58	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	324.83	31.07	16.66	66.82	96.24
Cash Conversion Cycle (CCC)	0.00	-156.56	66.74	65.10	6.02	-63.81
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	77	-102	307	75	106
Invested Capital Turnover	0.00	2.00	-24.51	4.68	1.32	2.52
Increase / (Decrease) in Invested Capital	0.00	77	-179	409	-232	31
Enterprise Value (EV)	0.00	1,115	10,765	1,849	2,558	-46
Market Capitalization	1,500	1,500	12,355	3,279	3,580	564
Book Value per Share	$0.00	$0.36	$1.01	$0.90	$0.52	$12.46
Tangible Book Value per Share	$0.00	$0.36	$0.98	$0.81	$0.46	$11.20
Total Capital	0.00	487	1,567	1,736	1,097	716
Total Debt	0.00	17	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	17	0.00	0.00	0.00	0.00
Net Debt	0.00	-393	-1,652	-1,430	-1,023	-610
Capital Expenditures (CapEx)	22	58	57	52	36	62
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-27	-64	-39	-106	-66
Debt-free Net Working Capital (DFNWC)	0.00	353	1,588	1,277	838	495
Net Working Capital (NWC)	0.00	353	1,588	1,277	838	495
Net Nonoperating Expense (NNE)	70	31	557	560	288	155
Net Nonoperating Obligations (NNO)	0.00	-393	-1,670	-1,430	-1,023	-610
Total Depreciation and Amortization (D&A)	11	14	29	43	71	63
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-35.85%	-20.32%	-8.10%	-42.23%	-29.11%
Debt-free Net Working Capital to Revenue	0.00%	460.91%	506.09%	267.34%	333.22%	218.23%
Net Working Capital to Revenue	0.00%	460.91%	506.09%	267.34%	333.22%	218.23%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($54.00)	($50.00)	($18.40)	($10.54)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	34.00M	41.98M	48.61M	51.89M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($55.60)	($50.00)	($18.40)	($10.54)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	34.01M	42.00M	48.61M	51.89M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	36.79M	48.81M	53.81M	58.03M
Normalized Net Operating Profit after Tax (NOPAT)	-50	-96	-1,280	-1,546	-538	-341
Normalized NOPAT Margin	-92.50%	-125.13%	-407.83%	-323.69%	-213.85%	-150.37%
Pre Tax Income Margin	-221.16%	-162.85%	-585.69%	-444.08%	-355.11%	-241.15%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-28.27	-50.69	-736.52	-19,588.19	-9,140.86	-5,853.04
NOPAT to Interest Expense	-20.70	-40.22	-539.37	-14,587.42	-6,506.28	-4,168.40
EBIT Less CapEx to Interest Expense	-37.45	-74.94	-760.34	-20,081.31	-9,531.97	-6,511.48
NOPAT Less CapEx to Interest Expense	-29.88	-64.46	-563.19	-15,080.54	-6,897.39	-4,826.84
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.34%	0.00%	-1.36%	-0.07%	-0.07%	0.00%

This table displays calculated financial ratios and metrics derived from Ginkgo Bioworks' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-14.45%	-33.81%	-52.08%	-44.29%	-16.52%	-64.64%	-52.98%	-30.24%	60.65%	26.16%	27.34%
EBITDA Growth	-1,477.42%	88.59%	66.75%	72.72%	60.47%	11.95%	15.82%	-21.10%	86.59%	45.22%	51.97%
EBIT Growth	-1,234.38%	87.66%	64.04%	70.29%	57.85%	12.44%	17.28%	-18.91%	81.50%	40.19%	46.72%
NOPAT Growth	-2,355.53%	86.30%	68.06%	71.57%	56.27%	22.85%	17.49%	-21.07%	80.72%	41.83%	50.02%
Net Income Growth	-554.39%	89.22%	65.41%	74.15%	54.80%	-22.31%	19.06%	-25.31%	81.38%	49.20%	45.18%
EPS Growth	-412.50%	89.22%	70.27%	78.05%	54.80%	-22.31%	27.27%	-22.22%	82.61%	51.72%	49.40%
Operating Cash Flow Growth	-441.76%	36.85%	-355.25%	26.03%	-159.34%	44.68%	1.46%	-14.76%	-40.72%	26.62%	42.28%
Free Cash Flow Firm Growth	-853.60%	0.00%	-142.69%	-137.17%	83.82%	118.84%	149.84%	168.86%	67.26%	-196.50%	-143.83%
Invested Capital Growth	259.14%	399.41%	185.57%	69.13%	-39.15%	-75.71%	-82.31%	-89.86%	1.94%	41.96%	38.87%
Revenue Q/Q Growth	-54.09%	48.02%	-17.89%	-0.17%	-31.20%	-37.30%	9.18%	48.13%	58.43%	-50.76%	10.20%
EBITDA Q/Q Growth	-7.18%	72.67%	-6.93%	12.92%	-55.31%	39.12%	-2.24%	-25.26%	82.80%	-148.76%	10.37%
EBIT Q/Q Growth	-7.05%	70.69%	-8.06%	12.38%	-51.89%	39.11%	-2.09%	-25.95%	76.37%	-96.83%	9.07%
NOPAT Q/Q Growth	-1.11%	64.75%	6.55%	14.64%	-55.52%	37.81%	0.06%	-25.25%	75.24%	-87.68%	14.13%
Net Income Q/Q Growth	0.07%	74.17%	-18.43%	15.44%	-74.76%	30.11%	21.63%	-30.90%	74.03%	-90.65%	15.42%
EPS Q/Q Growth	0.00%	74.17%	-10.00%	18.18%	-74.76%	30.11%	27.27%	-37.50%	-881.82%	-94.44%	20.00%
Operating Cash Flow Q/Q Growth	71.47%	-268.57%	13.34%	18.82%	-0.02%	21.37%	-54.34%	5.45%	-22.65%	59.00%	-21.41%
Free Cash Flow Firm Q/Q Growth	-198.65%	26.11%	27.97%	29.21%	57.06%	186.06%	90.50%	-2.20%	-120.42%	-153.65%	13.48%
Invested Capital Q/Q Growth	-17.78%	59.07%	30.50%	-0.91%	-70.42%	-36.50%	-4.97%	-43.21%	197.47%	-11.57%	-7.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	62.87%	69.25%	72.27%	77.54%	87.51%	80.98%	75.75%	75.59%	86.52%	78.06%	60.12%
EBITDA Margin	-992.71%	-183.31%	-238.72%	-208.22%	-470.05%	-456.43%	-427.41%	-361.43%	-39.23%	-198.20%	-161.20%
Operating Margin	-986.38%	-234.89%	-267.34%	-228.57%	-516.68%	-512.49%	-469.12%	-396.66%	-61.99%	-236.29%	-184.13%
EBIT Margin	-1,006.14%	-199.25%	-262.22%	-230.13%	-508.04%	-493.37%	-461.33%	-392.27%	-58.51%	-233.90%	-193.01%
Profit (Net Income) Margin	-1,009.26%	-176.10%	-253.98%	-215.12%	-546.44%	-609.10%	-437.25%	-386.40%	-63.34%	-245.25%	-188.25%
Tax Burden Percent	100.00%	92.14%	100.04%	100.04%	99.99%	99.91%	100.02%	100.09%	99.34%	99.70%	100.10%
Interest Burden Percent	100.31%	95.92%	96.82%	93.44%	107.57%	123.57%	94.76%	98.42%	108.97%	105.17%	97.44%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-10,172.41%	-768.93%	-270.06%	-165.24%	-734.53%	-473.20%	-290.93%	-234.30%	-79.83%	-416.58%	-361.84%
ROIC Less NNEP Spread (ROIC-NNEP)	-10,158.24%	-768.19%	-266.04%	-161.60%	-725.93%	-466.10%	-287.04%	-227.87%	-77.87%	-412.29%	-357.93%
Return on Net Nonoperating Assets (RNNOA)	9,920.15%	720.69%	221.40%	128.38%	642.30%	403.39%	234.93%	185.26%	68.87%	371.29%	320.89%
Return on Equity (ROE)	-252.26%	-48.25%	-48.66%	-36.86%	-92.23%	-69.82%	-56.01%	-49.04%	-10.96%	-45.28%	-40.95%
Cash Return on Invested Capital (CROIC)	0.00%	-637.47%	-549.37%	-336.54%	-365.27%	-195.58%	-105.77%	-114.15%	-376.63%	-469.34%	-422.17%
Operating Return on Assets (OROA)	-264.17%	-41.29%	-45.71%	-35.00%	-82.13%	-59.01%	-48.15%	-36.92%	-7.27%	-34.91%	-31.87%
Return on Assets (ROA)	-264.99%	-36.49%	-44.27%	-32.72%	-88.33%	-72.85%	-45.64%	-36.37%	-7.87%	-36.60%	-31.09%
Return on Common Equity (ROCE)	-246.36%	-47.34%	-48.15%	-36.48%	-92.05%	-69.82%	-56.01%	-49.04%	-10.96%	-45.28%	-40.95%
Return on Equity Simple (ROE_SIMPLE)	-246.62%	0.00%	0.00%	0.00%	-68.19%	0.00%	-86.48%	-107.76%	-81.61%	0.00%	-72.92%
Net Operating Profit after Tax (NOPAT)	-458	-162	-151	-129	-200	-125	-125	-156	-39	-73	-62
NOPAT Margin	-690.47%	-164.42%	-187.13%	-160.00%	-361.67%	-358.75%	-328.38%	-277.66%	-43.40%	-165.40%	-128.89%
Net Nonoperating Expense Percent (NNEP)	-14.18%	-0.74%	-4.02%	-3.64%	-8.60%	-7.10%	-3.89%	-6.43%	-1.96%	-4.29%	-3.91%
Return On Investment Capital (ROIC_SIMPLE)	-	-9.31%	-	-	-	-11.36%	-	-	-	-10.13%	-9.62%
Cost of Revenue to Revenue	37.13%	30.75%	27.73%	22.46%	12.49%	19.02%	24.25%	24.41%	13.48%	21.94%	39.88%
SG&A Expenses to Revenue	655.47%	123.50%	138.08%	127.02%	147.98%	256.72%	185.24%	117.93%	58.72%	130.67%	101.50%
R&D to Revenue	393.78%	180.65%	201.53%	179.08%	282.63%	336.75%	359.63%	238.80%	86.48%	174.19%	146.78%
Operating Expenses to Revenue	1,049.25%	304.15%	339.61%	306.11%	604.19%	593.47%	544.87%	472.25%	148.52%	314.35%	259.20%
Earnings before Interest and Taxes (EBIT)	-668	-196	-212	-185	-282	-171	-175	-220	-52	-103	-93
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-659	-180	-193	-168	-261	-159	-162	-203	-35	-87	-78
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.88	1.89	1.62	2.58	2.86	3.26	2.53	0.89	0.57	0.79	0.51
Price to Tangible Book Value (P/TBV)	4.10	2.09	1.80	2.90	3.27	3.71	2.90	1.00	0.63	0.88	0.57
Price to Revenue (P/Rev)	10.55	6.86	6.66	11.90	11.37	14.24	11.96	4.01	2.08	2.49	1.39
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	22.44	6.03	3.47	6.99	20.85	34.32	22.32	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	8.20	3.87	3.56	8.50	7.77	10.17	7.57	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.98	-0.94	-0.83	-0.79	-0.88	-0.87	-0.82	-0.81	-0.88	-0.90	-0.90
Leverage Ratio	1.32	1.40	1.39	1.40	1.45	1.48	1.54	1.68	1.71	1.68	1.76
Compound Leverage Factor	1.32	1.34	1.34	1.30	1.56	1.83	1.46	1.65	1.86	1.76	1.71
Debt to Total Capital	3.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	3.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	95.67%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	-0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.36	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	-0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.49	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	-0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	4.55	0.56	-0.31	0.47	-0.46	-0.25	-1.99	-4.21	-4.54	-5.07	-5.75
Noncontrolling Interest Sharing Ratio	2.34%	1.88%	1.04%	1.03%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	11.71	8.38	6.92	7.49	6.78	6.11	5.34	4.71	5.79	5.62	4.88
Quick Ratio	11.36	8.08	6.73	7.19	6.60	5.87	5.12	4.51	5.59	5.44	4.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-772	-571	-411	-291	-125	108	205	200	-41	-104	-90
Operating Cash Flow to CapEx	-212.24%	-405.87%	-465.95%	-543.36%	-1,707.71%	-2,865.76%	-1,330.24%	-312.19%	-704.62%	-310.81%	-675.95%
Free Cash Flow to Firm to Interest Expense	0.00	-66.58	0.00	0.00	0.00	2.44	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	-12.19	0.00	0.00	0.00	-1.31	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	-15.20	0.00	0.00	0.00	-1.36	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.26	0.21	0.17	0.15	0.16	0.12	0.10	0.09	0.12	0.15	0.17
Accounts Receivable Turnover	6.34	4.46	3.05	2.67	3.52	5.01	3.82	4.20	5.01	11.26	9.18
Inventory Turnover	51.55	0.00	25.19	22.45	26.18	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.20	2.07	1.68	1.39	1.62	1.00	0.82	0.73	1.06	1.16	1.21
Accounts Payable Turnover	26.11	21.91	4.97	5.76	7.03	5.46	1.68	1.99	3.14	3.79	2.37
Days Sales Outstanding (DSO)	57.55	81.76	119.75	136.50	103.65	72.84	95.67	86.93	72.92	32.43	39.76
Days Inventory Outstanding (DIO)	7.08	0.00	14.49	16.26	13.94	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	13.98	16.66	73.47	63.34	51.91	66.82	217.07	183.51	116.23	96.24	153.76
Cash Conversion Cycle (CCC)	50.66	65.10	60.77	89.42	65.69	6.02	-121.40	-96.58	-43.31	-63.81	-114.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	193	307	400	397	117	75	71	40	120	106	98
Invested Capital Turnover	14.73	4.68	1.44	1.03	2.03	1.32	0.89	0.84	1.84	2.52	2.81
Increase / (Decrease) in Invested Capital	314	409	260	162	-75	-232	-330	-356	2.28	31	28
Enterprise Value (EV)	4,327	1,849	1,390	2,772	2,446	2,558	1,580	-54	-225	-46	-218
Market Capitalization	5,569	3,279	2,597	3,879	3,582	3,580	2,497	739	453	564	331
Book Value per Share	$0.88	$0.90	$0.82	$0.72	$0.63	$0.52	$0.46	$0.38	$0.36	$12.46	$11.16
Tangible Book Value per Share	$0.83	$0.81	$0.74	$0.64	$0.55	$0.46	$0.40	$0.34	$0.32	$11.20	$9.97
Total Capital	1,500	1,736	1,608	1,504	1,253	1,097	987	833	798	716	647
Total Debt	60	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	60	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-1,247	-1,430	-1,207	-1,107	-1,135	-1,023	-916	-793	-678	-610	-549
Capital Expenditures (CapEx)	13	26	19	14	4.31	2.02	6.71	27	15	14	7.62
Debt-free, Cash-free Net Working Capital (DFCFNWC)	35	-39	-70	-46	-76	-106	-106	-113	-68	-66	-68
Debt-free Net Working Capital (DFNWC)	1,337	1,277	1,136	1,060	973	838	734	617	548	495	449
Net Working Capital (NWC)	1,337	1,277	1,136	1,060	973	838	734	617	548	495	449
Net Nonoperating Expense (NNE)	212	11	54	44	102	87	41	61	18	35	29
Net Nonoperating Obligations (NNO)	-1,247	-1,430	-1,207	-1,107	-1,135	-1,023	-916	-793	-678	-610	-549
Total Depreciation and Amortization (D&A)	8.92	16	19	18	21	13	13	17	17	16	15
Debt-free, Cash-free Net Working Capital to Revenue	6.55%	-8.10%	-18.07%	-14.01%	-24.08%	-42.23%	-51.01%	-61.39%	-31.27%	-29.11%	-28.66%
Debt-free Net Working Capital to Revenue	253.30%	267.34%	291.18%	325.24%	309.03%	333.22%	351.70%	334.83%	251.46%	218.23%	189.06%
Net Working Capital to Revenue	253.30%	267.34%	291.18%	325.24%	309.03%	333.22%	351.70%	334.83%	251.46%	218.23%	189.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($16.40)	($167.20)	($4.40)	($3.60)	($6.40)	($174.00)	($3.20)	($4.40)	($1.08)	($2.10)	($1.68)
Adjusted Weighted Average Basic Shares Outstanding	40.77M	1.05M	47.87M	48.34M	48.77M	1.22M	50.11M	51.37M	52.24M	51.89M	54.24M
Adjusted Diluted Earnings per Share	($16.40)	($167.20)	($4.40)	($3.60)	($6.40)	($174.00)	($3.20)	($4.40)	($1.08)	($2.10)	($1.68)
Adjusted Weighted Average Diluted Shares Outstanding	40.77M	1.05M	47.92M	48.34M	48.77M	1.22M	50.13M	51.38M	52.25M	51.89M	54.24M
Adjusted Basic & Diluted Earnings per Share	$0.00	($167.20)	$0.00	$0.00	$0.00	($174.00)	$0.00	$0.00	$0.00	($2.10)	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	48.50M	48.81M	52.14M	49.47M	52.96M	53.81M	55.28M	55.58M	57.48M	58.03M	58.53M
Normalized Net Operating Profit after Tax (NOPAT)	-458	-162	-151	-129	-133	-125	-125	-111	-37	-73	-59
Normalized NOPAT Margin	-690.47%	-164.42%	-187.13%	-160.00%	-240.17%	-358.75%	-328.38%	-196.80%	-41.08%	-165.40%	-121.25%
Pre Tax Income Margin	-1,009.31%	-191.13%	-253.88%	-215.03%	-546.48%	-609.67%	-437.17%	-386.06%	-63.76%	-245.99%	-188.06%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-22.84	0.00	0.00	0.00	-3.90	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	-18.85	0.00	0.00	0.00	-2.83	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	-25.85	0.00	0.00	0.00	-3.94	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	-21.85	0.00	0.00	0.00	-2.88	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-0.07%	-0.12%	0.00%	0.00%	-0.07%	0.00%	0.00%	0.00%	0.00%	0.00%

Key Financial Trends

Ginkgo Bioworks (NYSE:DNA) continues to struggle with profitability pressures, as evident in the most recent quarterly results through Q1 2025 and prior periods. Despite demonstrating some growth in revenue over the last two years, the company has consistently posted significant net losses with increasing operating expenses, particularly high research and development costs.

Positive Financial Highlights:

Operating revenue increased from $34.8 million in Q4 2023 to $48.3 million in Q1 2025, showing moderate top-line growth.
Gross profit improved modestly from $28.1 million in Q4 2023 to $29.0 million in Q1 2025, supporting revenue growth despite high cost of revenue.
Cash and equivalents remain substantial at $312.4 million as of Q1 2025, providing liquidity cushion.
Investments in property and equipment remain steady, indicating ongoing capital expenditure and potential for future capacity expansion.
Non-cash adjustments to reconcile net income reflect strong depreciation and amortization, which supports asset base valuation.
Weighted average shares outstanding have increased significantly over time (from around 50 million in early 2023 to over 54 million in Q1 2025), which may dilute earnings but indicates potential capital raises.
Stable total assets around $1.3 billion as of Q1 2025, down from $2.4 billion in early 2023, suggesting asset base rationalization or disposals.

Neutral Observations:

Operating cash flow remains negative at -$51.5 million in Q1 2025 but shows some improvement compared to prior quarters with cash outflows above $80 million in mid-2023.
Investing cash flows continue to be heavily negative, reflecting ongoing investment in technology and assets but also raising concerns about cash burn.
Financing cash flows are minor negative, suggesting limited debt repayments or capital activities in recent quarters.

Negative Financial Trends and Risks:

The company has reported continuous net losses with Q1 2025 net loss at approximately -$90.95 million, compared to -$107.5 million in Q4 2024, indicating persistent unprofitability.
Operating expenses have ballooned significantly, with research and development expenses in Q1 2025 at $70.9 million and selling, general & admin expenses at $49 million, consuming a large portion of revenue.
Consistent and increasing restructuring charges and impairment expenses highlight ongoing business challenges and restructuring efforts.
Declining total equity from $1.6 billion in Q1 2023 to around $647 million in Q1 2025 suggests accumulated losses eroding shareholders' equity.
Declining cash and equivalents from $1.2 billion in early 2023 to $312 million by Q1 2025 indicates a high cash burn rate, raising liquidity concerns over the medium term.
Negative earnings per share have been worsening, with diluted EPS at -$1.68 in Q1 2025 compared to approximately -$0.11 to -$4.35 in previous quarters, reflecting the severity of net losses relative to share count.
Significant investment outflows, with over $191 million spent on investments in Q1 2025, further pressure cash reserves.

Summary: Ginkgo Bioworks has seen top-line growth but continues to face substantial losses driven by high operating and R&D expenses. The company's liquidity is tightening given the decreasing cash reserves and ongoing cash burn from operations and investments. While its investments in assets and technology signal a long-term growth focus, investors should be cautious about the near-term path to profitability and the potential need for additional financing. Monitoring future cash flow improvements, cost controls, and revenue growth will be key for assessing the company’s turnaround prospects.

08/29/25 11:11 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Ginkgo Bioworks' Financials

When does Ginkgo Bioworks' fiscal year end?

According to the most recent income statement we have on file, Ginkgo Bioworks' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Ginkgo Bioworks' net income changed over the last 5 years?

Ginkgo Bioworks' net income appears to be on an upward trend, with a most recent value of -$547.03 million in 2024, rising from -$119.86 million in 2019. The previous period was -$892.87 million in 2023. View Ginkgo Bioworks' forecast to see where analysts expect Ginkgo Bioworks to go next.

What is Ginkgo Bioworks' operating income?

Ginkgo Bioworks' total operating income in 2024 was -$559.76 million, based on the following breakdown:

Total Gross Profit: $182.50 million
Total Operating Expenses: $742.25 million

How has Ginkgo Bioworks' revenue changed over the last 5 years?

Over the last 5 years, Ginkgo Bioworks' total revenue changed from $54.18 million in 2019 to $227.04 million in 2024, a change of 319.0%.

How much debt does Ginkgo Bioworks have?

Ginkgo Bioworks' total liabilities were at $661.39 million at the end of 2024, a 16.4% increase from 2023, and a 222.5% increase since 2020.

How much cash does Ginkgo Bioworks have?

In the past 4 years, Ginkgo Bioworks' cash and equivalents has ranged from $380.80 million in 2020 to $1.55 billion in 2021, and is currently $561.57 million as of their latest financial filing in 2024.

How has Ginkgo Bioworks' book value per share changed over the last 5 years?

Over the last 5 years, Ginkgo Bioworks' book value per share changed from 0.00 in 2019 to 12.46 in 2024, a change of 1,245.8%.

Related Companies

This page (NYSE:DNA) was last updated on 8/29/2025 by MarketBeat.com Staff

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Ginkgo Bioworks (DNA) Financials

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Ginkgo Bioworks (DNA) Financials

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