10-K · February 26, 2026
Ginkgo’s 10-K reiterates its strategy to scale an Autonomous Lab platform (automation + AI + reusable biological assets) across two businesses: cell engineering and biosecurity. FY2025 quarter results show continued…
Earnings analysis · 10-Q
DNA earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Ginkgo Bioworks reported Q1 2026 revenue of $19.5 million, significantly missing estimates ($42.4 million) and declining 49% year-over-year. The EPS loss of $1.39 also fell short of expectations, coupled with a cash…
Read full summary
Ginkgo Bioworks reported Q1 2026 revenue of $19.5 million, significantly missing estimates ($42.4 million) and declining 49% year-over-year. The EPS loss of $1.39 also fell short of expectations, coupled with a cash burn guidance for 2026 estimated between $150 million and $125 million. Management indicated that ongoing restructuring efforts and a reduction in services contributed to the poor financial performance in this quarter.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-1.39
What stood out
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Revenue Plummets 49% YoY
Q1 2026 revenue was $19.5 million, down from $38.2 million in Q1 2025.
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EPS Misses Estimates
Reported EPS was a loss of $1.39, missing the expected loss of $1.34.
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Significant Cash Burn Guidance
Management reaffirms cash burn guidance for 2026 between $(150) million and $(125) million.
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Reduction in Operating Expenses
Operating expenses fell by $28.4 million from $119.2 million in Q1 2025 to $90.8 million in Q1 2026.
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Improvement in Loss from Operations
Loss from operations decreased to $71.4 million in Q1 2026 from $80.9 million in Q1 2025.
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Decreased R&D Spending
R&D expenses dropped to $49.9 million from $70.9 million in the prior year, a decline of $21 million.
What to watch
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High Cash Burn Rate
Projected cash burn remains elevated with guidance between $(150) million and $(125) million for 2026.
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Significant Revenue Decline
Revenue decreased sharply by $18.8 million, or 49% year-over-year.
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Ongoing Restructuring Risks
The company is undergoing restructuring, which may affect future operational efficiency and financial performance.
Management's outlook
Full-year 2026 cash burn guidance remains $(150) million to $(125) million.
Earlier filings 4
10-Q · May 6, 2025
Ginkgo reported Q1 revenue of $48,318,000, up $10,374,000 (27%) year-over-year, driven by Cell Engineering growth. Loss from operations improved to $(88,968,000) from $(178,002,000) a year earlier and diluted EPS…
10-Q · August 8, 2024
Ginkgo reported quarterly revenue of $56,206 (in thousands) and a GAAP net loss of $217,181 (in thousands), or $(0.11) per share, driven by large operating expenses including a $47,858 (in thousands) goodwill impairment…
10-K · February 29, 2024
Ginkgo positions itself as a horizontal synthetic-biology platform built around two core businesses — cell engineering (Foundry + Codebase) and government-focused biosecurity — that the company says improves with scale…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.