Ginkgo Bioworks Holdings, Inc. (DNA): restructuring charge — Ginkgo Q2 revenue down 30% to $56M, launches RIF cutting 35% of workforce for >$85M annual savings

Ginkgo Bioworks Holdings, Inc.

2024-Q2 EPS reported -$0.19 revenue$94,150,000

Q2 total revenue $56M vs $81M YoY; Cell Engineering $36M (-20%), Biosecurity $20M (41% gross margin).
Loss from ops $(223)M incl. $72M restructuring costs; Adjusted EBITDA $(99)M vs $(80M) prior year.
Reduction in force impacting 35% of workforce, expected to yield >$85M annualized savings by mid-2025.
Restructuring costs estimated $18-22M in Cell Engineering; facilities consolidation underway.
FY 2024 outlook reaffirmed: total revenue $170-190M, Cell Engineering $120-140M, Biosecurity ≥$50M.

item 2.02 item 2.05 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Ginkgo Bioworks Holdings, Inc. announced a restructuring with charges of $18.0 million to $22.0 million affecting Cell Engineering segment (35% of the workforce).

Type: restructuring
Charge: $18.0 million to $22.0 million
Affected area: Cell Engineering segment
Headcount: 35% of the workforce

Exact text from the filing

The Company currently estimates the costs for the reduction in force to range from $18.0 million to $22.0 million primarily in the Cell Engineering segment and consist of one-time cash severance and related costs.

View on SEC.gov

6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Ginkgo Bioworks Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-036226

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