Ginkgo Bioworks — Third Quarter 2026 Earnings Summary

Financial Performance:

• Third quarter 2026 revenue was $28 million, a 6% decrease compared to $29 million in the prior year period, though it increased from $20 million in the second quarter of 2026.
• GAAP net loss from continuing operations for the third quarter was $41 million, an improvement from $73 million in the comparable prior year period.
• Adjusted EBITDA for the third quarter was ($22) million, improved from ($53) million in the prior year period.
• Cash, cash equivalents, and marketable securities balance as of September 30, 2026, stood at $285 million.
• Third quarter cash burn was $27 million.
• Nine months ended September 30, 2026, revenue was $67.3 million compared to $106.7 million in the prior year period.
• Nine months ended September 30, 2026, net loss from continuing operations was $174.4 million compared to $209.9 million in the prior year period.
• Total stockholders' equity decreased to $392.6 million as of September 30, 2026, from $508.6 million as of December 31, 2025.
• Deferred revenue decreased to $78.4 million total ($6.4 million current, $71.9 million non-current) as of September 30, 2026, from $94.1 million total ($18.9 million current, $75.2 million non-current) as of December 31, 2025.

Guidance and Future Outlook:

• Ginkgo reaffirmed its full-year 2026 expected total cash burn guidance of ($125) to ($150) million.

Business Segments and Product Lines:

• The company operates two core offerings built on one autonomous lab platform: Autonomous Labs Equipment and Cloud Lab Services.
• Autonomous Labs Equipment: The company sells RAC + Catalyst systems to pharma, national labs, universities, and the U.S. government. Recent sales include Novo, Pacific Northwest National Laboratory, the NSF, and ARPA-H.
• Cloud Lab Services: Experiments are run in Nebula, the world's largest autonomous lab with over 100 reconfigurable automation carts (RACs), delivering onshore ADME, DRUG-seq, and antibody data for pharma, and AI training data for frontier labs.
• New Customer Agreements:
  • Novo signed a sale of an autonomous lab at its new Waltham, Massachusetts R&D site.
  • ARPA-H awarded a GIVE subcontract worth up to $17.5 million for RNA-medicine manufacturing.
  • ADME-One service signed 22 customers in Q3, including 20 first-time Ginkgo customers.
  • Takeda, Argenx, Lundbeck, and AbbVie founded the Antibody Developability Consortium; GSK, Novartis, and Biogen signed new work.
  • Frontier AI labs, including OpenAI, are utilizing Cloud Lab for AI data generation.
• Government Initiatives: The U.S. government is treating autonomous labs as national infrastructure through the Genesis Mission, the NSF's ~$400 million Programmable Cloud Laboratories (PCL) Test Bed, and the $1.5 billion X-Labs initiative.

Market and Competitive Landscape:

• Ginkgo positions its ADME-One service as orders of magnitude cheaper than competitor WuXi.
• The company offers an onshore alternative to overseas CROs for pharma companies.
• The company is leveraging the U.S. government's classification of autonomous labs as national infrastructure to lead the transition from bench to autonomous research.

Risks and Challenges:

• Forward-looking statements highlight risks including the ability to realize cost savings from site consolidation plans, volatility in securities prices, and changes in laws and regulations.
• Risks include potential downturns in demand for synthetic biology products, uncertainty regarding demand for biosecurity services, and changes in the biosecurity industry.
• Potential risks involve government budgetary priorities, funding allocated to agencies, and the impact of a U.S. government shutdown.
• Challenges include the ability to scale and expand the capacity of the autonomous lab (Nebula) on anticipated timelines and the pace of adoption of autonomous laboratory infrastructure.
• Risks related to information technology system disruptions and data security incidents are noted.

Management Commentary and Tone:

• CEO Jason Kelly stated that Ginkgo is well-positioned to lead the transition from the bench to autonomous research as the U.S. government treats autonomous labs as national infrastructure.
• Management highlighted the strategic positioning of having two core offerings (Autonomous Labs and Cloud Lab) built on a single platform.
• The tone emphasizes growth in autonomous lab sales and Cloud Lab services through new pharma logos and AI data generation partnerships.

Other Key Points:

• Ginkgo announced the sale of its first autonomous lab to a top-tier pharma company, Novo.
• The company secured new government wins with ARPA-H and the NSF.
• The company is building on momentum from previously announced commissions for Ginkgo-built labs at Caltech, University of Maryland, Northwestern, and MIT Media Lab under the NSF's PCL Test Bed.
• The press release includes a conference call scheduled for November 5, 2026, at 4:30 p.m. ET.
• The company provides non-GAAP financial measures including Adjusted EBITDA and cash burn, noting they are supplemental to GAAP measures.