Ginkgo Bioworks Reports $48.3 Million Revenue in Q1 2025, 27% Increase Year-Over-Year

Ginkgo Bioworks Holdings, Inc. reported a total revenue of $48.3 million for the first quarter of 2025, marking a 27% increase from $37.9 million in the same period of 2024. The growth was primarily driven by a significant rise in Cell Engineering revenue, which reached $38.2 million, up from $27.9 million a year earlier. This increase was largely attributed to the recognition of $7.5 million in non-cash revenue from a terminated contract with BiomEdit, which contributed to a rise in non-cash revenue from $3.8 million to $8.7 million. Biosecurity revenue remained stable at $10.1 million, consistent with the previous year.

The company’s operating expenses decreased to $137.3 million from $215.9 million year-over-year, reflecting a reduction in research and development costs, which fell from $136.5 million to $70.9 million. This decline was primarily due to the company's restructuring plan initiated in mid-2024, which included workforce reductions and a focus on prioritizing investments in its Foundry and Codebase. General and administrative expenses also decreased from $70.3 million to $49.0 million, contributing to a reduced loss from operations of $89.0 million compared to $178.0 million in the prior year.

Ginkgo Bioworks has been actively restructuring its operations, which included a workforce reduction of over 50% and the consolidation of facilities. In the first quarter of 2025, the company incurred $5.3 million in restructuring charges related to employee termination benefits. The restructuring is expected to be largely completed by the end of 2025, with ongoing efforts to sublease unused facilities. The company also reported a net loss of $91.0 million for the quarter, an improvement from a net loss of $165.9 million in the same quarter of 2024.

As of March 31, 2025, Ginkgo Bioworks had cash and cash equivalents of $312.4 million, down from $561.6 million at the end of 2024. The decrease in cash was primarily due to significant investments in marketable securities totaling $191.2 million and cash used in operating activities. The company’s total assets decreased to $1.29 billion from $1.38 billion at the end of 2024, while total liabilities also saw a slight reduction to $646.0 million.

Looking ahead, Ginkgo Bioworks anticipates that its expenditures will continue to exceed revenue as it invests in research and development and operational enhancements. The company believes its current cash reserves will be sufficient to fund operations for at least the next 12 months. Ginkgo is focused on expanding its service offerings in both the Cell Engineering and Biosecurity segments, aiming to enhance its market position and drive future growth.