Ginkgo Bioworks Reports $49.6M Revenue in Q2 2025, Down 11.7% Year-Over-Year

Ginkgo Bioworks Holdings, Inc. reported a total revenue of $49.6 million for the second quarter of 2025, a decrease of 11.7% compared to $56.2 million in the same period of 2024. The decline was primarily driven by a significant drop in biosecurity revenue, which fell from $20.0 million to $10.5 million year-over-year. In contrast, cell engineering revenue increased from $36.2 million to $39.1 million, reflecting growth in contracts with large enterprise customers, particularly in the pharmaceutical and biotechnology sectors. For the first half of 2025, total revenue reached $97.9 million, a slight increase from $94.2 million in the prior year.

The company's operating expenses for the second quarter of 2025 were $115.1 million, down from $279.2 million in the same quarter of 2024. This reduction was largely attributed to a decrease in research and development expenses, which fell from $134.2 million to $53.4 million, and a drop in general and administrative expenses from $66.3 million to $43.3 million. The company also recorded restructuring charges of $3.7 million in the latest quarter, compared to $17.1 million in the previous year, as part of its ongoing efforts to streamline operations.

Ginkgo's balance sheet as of June 30, 2025, showed total assets of $1.23 billion, down from $1.38 billion at the end of 2024. Cash and cash equivalents decreased significantly to $203.6 million from $561.6 million, while marketable securities increased to $270.1 million. The company’s total liabilities also decreased to $618.1 million from $661.4 million, reflecting a reduction in deferred revenue and accrued expenses. Stockholders' equity fell to $613.0 million from $716.1 million, primarily due to the accumulated deficit increasing to $5.99 billion.

Strategically, Ginkgo has made significant moves, including the acquisition of assets from AgBiome in April 2024, which expanded its proprietary metagenomics database. The company has also been restructuring its operations, including a workforce reduction of over 50% and the consolidation of facilities, which is expected to be completed by the end of 2025. Ginkgo's management anticipates that these changes will stabilize operational overhead and potentially lead to a more efficient cost structure moving forward.

Looking ahead, Ginkgo Bioworks expects to continue investing in its research and development activities while managing costs. The company has indicated that it will focus on enhancing its Foundry and Codebase, as well as expanding its cell engineering tools offerings. Despite the challenges faced in the biosecurity segment, Ginkgo remains committed to its mission of making biology easier to engineer and is optimistic about future growth opportunities in both its cell engineering and biosecurity businesses.