secwatch.observer — SEC 8-K summary
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Issuer:     Ginkgo Bioworks Holdings, Inc. (DNA)
CIK:        0001830214
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001628280-24-022191
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ginkgo Bioworks Q1 revenue $38M (-53% YoY), plans $200M cost cuts, targets EBITDA breakeven by end 2026
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- Q1 total revenue $38M, down 53% YoY; Cell Engineering $28M (-18%), Biosecurity $10M.
- Loss from operations $178M (incl. $42M SBC); Adj. EBITDA -$100M, flat YoY; cash $840M, no debt.
- Restructuring: reduce annualized opex by $200M by mid-2025, cut labor >=25%, consolidate facilities up to 60%.
- Targeting adjusted EBITDA breakeven by end-2026; 2024 revenue guidance lowered to $170-190M.
- Added 17 new Cell Programs in Q1; expects at least 100 new customer projects in 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830214/000162828024022191/0001628280-24-022191-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830214/000162828024022191/dna-20240509.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-022191

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer