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Ginkgo Bioworks Holdings, Inc. (DNA) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

Ginkgo Bioworks Holdings, Inc.

CIK: 1830214 Ticker: DNA

Exhibit 99.1

 

img197909486_0.jpg 

 

Ginkgo Bioworks Reports Fourth Quarter and Full Year 2021 Financial Results

 

$314 million of Total revenue in 2021, representing an increase of 309% over 2020

31 new Cell Programs added in 2021, representing 72% growth over 2020

Over $1.5 billion cash balance, providing meaningful multi-year runway as we drive towards profitability

 

BOSTON, MA -- March 28, 2022 --

Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, “Ginkgo”), the leading horizontal platform for cell programming, today announced its results for the fourth quarter and year ended December 31, 2021. The update, including a webcast slide presentation with additional details on the fourth quarter and supplemental financial information, will be available at investors.ginkgobioworks.com.

 

“The current market environment provides both challenges and opportunities, but I’ve never been more excited about Ginkgo’s future. We met or exceeded each of our publicly disclosed metrics in 2021, some significantly, and we believe we are in the strongest position that we’ve ever been in as a company,” said Jason Kelly, co-founder and CEO of Ginkgo. “I couldn’t be prouder of our team and the way they have shown up to build our platform and deliver cell programs for our partners over the past year. Some of the greatest challenges of our generation – including climate change and food security – are fundamentally biological. Ginkgo is unique in our relative scale and our focus on the development of broad-based horizontal technologies to make biology easier to engineer – and on humankind’s ability to do so responsibly.”

 

Recent Business Highlights & Strategic Positioning

Added 10 new Cell Programs to the Foundry platform in Q4 2021, for a total of 31 new programs in the full year, representing 72% growth over 2020.
Significantly exceeded outlook for both Foundry and Biosecurity revenue with full year revenue reaching $314 million, representing growth of 309% over 2020.
Continued to drive “Knight’s Law” Foundry scaling as we were able to increase our deployment of new technologies, including multiplexed strain tests.
Biosecurity offering, Concentric by Ginkgo, grew rapidly in Q4, reaching $201 million in revenue for the full year, and is seeing signs of longer-term opportunities.
o
Expanded offering with a lab network that has empowered communities with COVID-19 monitoring programs across the United States.
o
Since inception, Concentric has tested more than 7,200,000 samples, and now serves over 280,000 individuals per week.
o
Well-positioned to play a role in response to longer-term needs, including endemic COVID-19, broader pandemic preparedness, and biodefense.
Announced two tuck-in acquisitions year-to-date in 2022:
o
Project Beacon: a Boston-based social benefit organization focused on increasing the capacity, availability, accessibility and affordability of COVID-19 testing.
o
FGen: a Swiss company specializing in ultra-high-throughput strain development and optimization.


Fourth Quarter 2021 Financial Highlights

Fourth quarter 2021 Total revenue of $148 million, up from $32 million in the comparable prior year period, an increase of 363%.
Fourth quarter 2021 Foundry revenue of $34 million, up from $16 million in the comparable prior year period, an increase of 108%.
Fourth quarter 2021 Biosecurity revenue of $114 million with gross profit margin of 42%.
Fourth quarter 2021 Loss from operations of $(1.7) billion, inclusive of “catch-up” GAAP stock-based compensation expense of $1.7 billion, compared to Loss from operations of $(56) million in the comparable prior year period.

The following information was filed by Ginkgo Bioworks Holdings, Inc. (DNA) on Monday, March 28, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ginkgo Bioworks Holdings, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Cash Flows
Condensed Consolidated Statement Of Operations And Comprehensive Loss
Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Condensed Consolidated Statements Of Changes In Shareholders' Equity
Condensed Consolidated Statements Of Operations And Comprehensive Loss (Parenthetical)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - Schedule Of Financial Assets And Liabilities Measured At Fair Value (Details)
Fair Value Measurements - Summary Of Change In The Fair Value Of The Warrant Liabilities (Details)
Fair Value Measurements - Summary Of Fair Value Measurements Inputs (Detail)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Additional Information (Details)
Goodwill And Intangible Assets, Net - Schedule Of Goodwill (Details)
Goodwill And Intangible Assets, Net - Schedule Of Intangible Assets (Details)
Goodwill And Intangible Assets, Net - Schedule Of Intangible Assets (Parenthetical) (Details)
Investments And Equity Method Investments
Investments And Equity Method Investments (Tables)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Summary Of Anti-Dilutive Shares (Details)
Related Parties
Related Parties (Tables)
Related Parties - Summary Of Condensed Consolidated Balance Sheets (Details)
Related Parties - Summary Of Condensed Consolidated Statements Of Operations And Comprehensive Loss (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Additional Information 1 (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Segment Information
Segment Information (Tables)
Segment Information - Schedule Of Segment Reporting Information, By Segment (Parenthetical) (Details)
Segment Information Schedule Of Segment Reporting Information, By Segment (Details)
Significant Collaboration Transactions
Significant Collaboration Transactions - Additional Information (Details)
Stock Based Compensation (Tables)
Stock-Based Compensation
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Condensed Consolidated Statements Of Operations And Comprehensive Loss (Details)
Stock-Based Compensation - Share-Based Payment Arrangement, Restricted Stock Unit, Activity (Details)
Stock-Based Compensation - Summary Of Restricted Stock Awards (Details)
Stock-Based Compensation - Summary Of Stock Option Activity (Details)
Subsequent Events
Subsequent Events (Additional Information) (Details)
Supplemental Balance Sheet Information
Supplemental Balance Sheet Information (Additional Information) (Details)
Supplemental Balance Sheet Information (Tables)
Supplemental Balance Sheet Information - Capitalization (Details)
Supplemental Balance Sheet Information - Cash, Cash Equivalents And Restricted Cash (Details)
Supplemental Balance Sheet Information - Schedule Of Inventory, Net (Detail)
Supplemental Balance Sheet Information - Summary Of Property And Equipment, Net (Detail)
Variable Interest Entities
Variable Interest Entities (Additional Information) (Details)
Variable Interest Entities (Tables)
Variable Interest Entities - Summary Of Vie Assets And Liabilities (Details)

Material Contracts, Statements, Certifications & more

Ginkgo Bioworks Holdings, Inc. provided additional information to their SEC Filing as exhibits

Ticker: DNA
CIK: 1830214
Form Type: 10-Q Quarterly Report
Accession Number: 0000950170-22-010080
Submitted to the SEC: Mon May 16 2022 4:14:49 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Biological Products No Disgnostic Substances

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