olivLaw · US equity research
Ginkgo Bioworks Holdings, Inc. DNA
Biological Products, (No Diagnostic Substances) · SIC 2836 · Vertical: Biological Products, (No Diagnostic Substances) (SIC 2836)
Ginkgo Bioworks provides biological R&D services and laboratory automation tools to customers in pharmaceuticals, agriculture, industrial biotechnology and government. In 2026 the company is repositioning toward autonomous labs, amid public investment in the United States, while quarterly revenue fell sharply, by 48 percent, and losses persist with 302 million USD in cash at June 30 2026.
At the close of 04 Nov 2026, Ginkgo Bioworks Holdings, Inc. (DNA) stock was 11.65 USD (+8.27% on the day), with market capitalisation 742.2 m USD, beta 2.56, 52-week range 5.48–14.98 USD. Latest reported quarter (Q2 2026): revenue of 20.2 m USD (−48.5% YoY), net income of -46.7 m USD, diluted EPS -0.75 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 53.9
- neutral
- Bollinger (20, 2)
- 8.92 – 13.27
- in the upper half of the band · %B 0.63 · band width 39.2%
- SMA 50 / 200
- 9.76 / 8.61
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.27 / 0.34
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −22.2% | −2.0% | −20.2 pp | — |
| 3 months | +24.3% | −2.2% | +26.5 pp | — |
| 6 months | +15.6% | +4.3% | +11.3 pp | — |
| Year to date | +40.2% | +10.6% | +29.6 pp | — |
| 1 year | +0.5% | +10.5% | −9.9 pp | −3.8% |
| 3 years | −82.2% | +73.7% | −155.9 pp | +18.6% |
| 5 years | −97.9% | +61.7% | −159.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 89.0 m | 43.8 m | 38.2 m | 39.1 m | 38.8 m | 33.4 m | 19.5 m | 20.2 m |
| Cost of revenue | — | — | 4.1 m | 5.4 m | — | — | 3.1 m | 1.7 m |
| Research & development | 77.0 m | 76.4 m | 70.9 m | 53.4 m | 69.4 m | 50.1 m | 49.9 m | 46.2 m |
| Operating income | -55.2 m | -103.6 m | -81.0 m | -58.2 m | -90.0 m | -70.8 m | -71.4 m | -58.5 m |
| Depreciation & amortisation | 17.2 m ≈ | 15.7 m | 14.8 m | 15.2 m ≈ | 15.3 m ≈ | 13.7 m | 12.8 m | 12.3 m ≈ |
| Interest expense | -9.3 m | 31.4 m | — | — | — | — | — | — |
| Pre-tax income | -56.8 m | -107.9 m | -83.2 m | -53.5 m | -80.8 m | -81.4 m | -76.1 m | -57.2 m |
| Income tax | -375.0 k | -325.0 k | 88.0 k | -283.0 k | 1.0 k | -643.0 k | -80.0 k | 128.0 k |
| Net income | -56.4 m | -107.5 m | -91.0 m | -60.3 m | -80.8 m | -80.8 m | -82.6 m | -46.7 m |
| Diluted EPS | -1.08 | -2.00 ≈ | -1.68 | -1.10 | -1.45 | -1.42 ≈ | -1.39 | -0.75 |
| Operating cash flow | -103.5 m ≈ | -42.4 m | -51.5 m | -40.3 m ≈ | -31.6 m ≈ | -47.7 m | -46.7 m | -44.3 m ≈ |
| Capex | 15.1 m ≈ | 13.7 m | 7.6 m | 38.0 k ≈ | 0 ≈ | 5.0 k | 1.9 m | 2.6 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 54.2 m | 76.7 m | 313.8 m | 477.7 m | 251.5 m | 227.0 m | 170.2 m |
| Revenue YoY | unavailable | +41.5% | +309.4% | +52.2% | −47.4% | −9.7% | −25.1% |
| Net income | -119.3 m | -126.6 m | -1.8 bn | -2.1 bn | -892.9 m | -547.0 m | -312.8 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -0.10 | -0.10 | -1.39 | -50.20 | -18.37 | -10.54 | -5.64 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -220.2% | -165.2% | -583.1% | -440.6% | -355.1% | -240.9% | -183.8% |
| Free cash flow | -66.9 m | -193.7 m | -310.3 m | -304.5 m | -336.3 m | -382.1 m | -178.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 167.2 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 508.6 m USD
- Total assets
- 1.1 bn USD
- Debt / equity
- unavailable
- Current ratio
- 4.92x
- ROE
- -51.1%
- ROA
- -25.0%
- FCF margin
- -105.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 76.7 m | 313.8 m | 477.7 m | 251.5 m | 227.0 m | 170.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Research & development | 159.8 m | 1.1 bn | 1.1 bn | 580.6 m | 424.1 m | 243.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | -137.0 m | -1.8 bn | -2.2 bn | -864.4 m | -559.8 m | -315.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 13.9 m | 29.1 m | 42.6 m | 70.5 m | 63.0 m | 59.0 m | SEC (XBRL)· 26 Feb 2026verified |
| EBITDA | -123.2 m ≈ | -1.8 bn ≈ | -2.2 bn ≈ | -793.9 m ≈ | -496.7 m ≈ | -256.3 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Interest expense | 2.4 m | 2.4 m | 106.0 k | 93.0 k | 94.0 k | 0 | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | -124.8 m | -1.8 bn | -2.1 bn | -892.9 m | -547.5 m | -313.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 1.9 m | -1.5 m | -15.0 m | -71.0 k | -479.0 k | -837.0 k | SEC (XBRL)· 26 Feb 2026verified |
| Net income | -126.6 m | -1.8 bn | -2.1 bn | -892.9 m | -547.0 m | -312.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | -0.10 | -1.39 | -50.20 | -18.37 | -10.54 | -5.64 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 1.3 bn | 1.4 bn | 42.0 m | 48.6 m | 51.9 m | 55.5 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 380.8 m | 1.6 bn | 1.3 bn | 944.1 m | 561.6 m | 167.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | 16.7 m | 131.5 m | 80.9 m | 17.2 m | 21.9 m | 24.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Inventories | 2.7 m | 3.4 m | 4.4 m | 46.0 k | — | — | SEC (XBRL)· 29 Feb 2024verified |
| Current assets | 426.5 m | 1.7 bn | 1.5 bn | 1.0 bn | 602.7 m | 471.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 121.4 m | 145.8 m | 314.8 m | 188.2 m | 203.7 m | 167.4 m | SEC (XBRL)· 07 May 2026verified |
| Goodwill | 1.9 m | 21.3 m | 60.2 m | 49.2 m | 0 | — | SEC (XBRL)· 25 Feb 2025verified |
| Intangibles (excl. goodwill) | 3.3 m | 21.6 m | 111.0 m | 82.7 m | 72.5 m | 53.5 m | SEC (XBRL)· 07 May 2026verified |
| Total assets | 675.2 m | 2.1 bn | 2.5 bn | 1.7 bn | 1.4 bn | 1.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 13.9 m | 8.2 m | 10.5 m | 9.3 m | 14.2 m | 10.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 73.2 m | 134.8 m | 173.0 m | 163.9 m | 107.3 m | 96.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 205.1 m | 503.6 m | 803.0 m | 568.2 m | 661.4 m | 611.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 470.1 m | 1.6 bn | 1.7 bn | 1.1 bn | 716.1 m | 508.6 m † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -135.8 m | -253.8 m | -252.2 m | -295.5 m | -319.6 m | -171.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 57.8 m | 56.5 m | 52.3 m | 40.8 m | 62.5 m | 7.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | -193.7 m ≈ | -310.3 m ≈ | -304.5 m ≈ | -336.3 m ≈ | -382.1 m ≈ | -178.7 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -67.1 m | -73.3 m | -67.4 m | -80.7 m | -62.2 m | -240.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | 90.3 m | 1.5 bn | 95.3 m | -3.2 m | -1.7 m | 17.8 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 742.2 m USD
Key indicators
Coverage and freshness
Score by group
27% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -260.0% | 34 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -29.1% | 0 (on a fixed band) | 31% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 4.6x | 100 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -23.6% | 0 (on a fixed band) | 31% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial34/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
GINKGO BIOWORKS HOLDINGS, INC. (DNA). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 170.2 m USD in 2025; YoY growth -25.1%; net margin -260.0%; ROE -56.3%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 4.6x
What contradicts it
- Revenue CAGR 3Y: -29.1%
- FCF yield: -23.6%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Biological Products, (No Diagnostic Substances) (SIC 2836) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AMGNAmgen Inc. | 249.4 bn | 28.7 | 91.5% | 23.0% | +10.0% | +34% / +71% |
| GILDGilead Sciences, Inc. | 207.7 bn | — | -22.3% | -12.5% | +2.4% | +33% / +119% |
| MRNAModerna, Inc. | 91.2 bn | — | -39.0% | -141.4% | −39.9% | +779% / +194% |
| RVMDRevolution Medicines, Inc. | 41.6 bn | — | -79.1% | — | unavailable | +150% / +733% |
| BIIBBiogen Inc. | 36.8 bn | 106.4 | 1.9% | 3.4% | +2.2% | +37% / +6% |
| MESOMesoblast Limited | 18.5 bn | — | -19.0% | -593.9% | +191.4% | −17% / +425% |
| EXELExelixis, Inc. | 17.6 bn | 21.6 | 44.3% | 35.5% | +7.0% | +64% / +232% |
| HALOHalozyme Therapeutics, Inc. | 14.8 bn | 38.4 | 173.7% | 24.9% | +37.6% | +83% / +238% |
| KYMRKymera Therapeutics, Inc. | 11.6 bn | — | -27.3% | -341.8% | −16.7% | +101% / +556% |
| TWSTTwist Bioscience Corporation | 8.9 bn | — | -29.6% | -31.7% | +20.3% | +345% / +493% |
| SCNIScinai Immunotherapeutics Ltd. | 6.2 bn | — | -91.9% | -633.6% | +99.2% | −96% / −99% |
| CGONCG Oncology, Inc. | 6.0 bn | — | -26.4% | -3,602.7% | +254.7% | +51% / unavailable |
| TARSTarsus Pharmaceuticals, Inc. | 3.4 bn | — | -319.8% | -102.9% | +146.7% | −14% / +318% |
| DNLIDenali Therapeutics Inc. | 3.4 bn | — | -33.9% | -1,470.5% | unavailable | +8% / +13% |
| ADMAAdma Biologics, Inc. | 2.3 bn | 14.9 | 41.9% | 33.0% | +19.6% | −45% / +183% |
| VCELVericel Corporation | 2.3 bn | 107.7 | 7.2% | 7.9% | +16.5% | +13% / +28% |
| BCRXBiocryst Pharmaceuticals, Inc. | 2.1 bn | — | — | -40.9% | +94.1% | +15% / +40% |
| VIRVir Biotechnology, Inc. | 2.0 bn | — | -26.1% | -83.0% | −7.6% | +83% / +24% |
| ALVOAlvotech | 1.5 bn | 46.7 | — | 4.8% | +19.7% | −8% / −51% |
| INBXInhibrx Biosciences, Inc. | 1.3 bn | — | -1,773.6% | — | +550.0% | +3% / unavailable |
| EVAXEvaxion A | 1.2 bn | — | -100.2% | -102.4% | +125.1% | −50% / −93% |
| DNAGinkgo Bioworks Holdings, Inc. | 742.2 m | — | -56.3% | -260.0% | −25.1% | +1% / −82% |
| CADLCandel Therapeutics, Inc. | 692.5 m | — | -81.8% | — | 0.0% | +90% / +907% |
| SRZNSurrozen, Inc. | 372.0 m | — | — | -2,885.3% | −67.4% | +91% / +340% |
| AUTLAutolus Therapeutics plc | 367.3 m | — | -133.0% | -238.7% | +644.9% | −2% / −68% |
1- and 3-year price returns: for DNA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Ginkgo Bioworks provides biological R&D services and laboratory automation tools to customers in pharmaceuticals, agriculture, industrial biotechnology and government. In 2026 the company is repositioning toward autonomous labs, amid public investment in the United States, while quarterly revenue fell sharply, by 48 percent, and losses persist with 302 million USD in cash at June 30 2026 3.
SWOT
Strengths
- The platform benefits from a large autonomous lab, Nebula, and reusable data assets that can improve services with each project 13.
- The company holds commissions from universities and government agencies for autonomous labs 3.
- Through remote support, Apex Support can resolve most system errors without client intervention 1.
Weaknesses
- Revenue fell sharply in the second quarter of 2026, while operating costs remain high relative to revenue 3.
- The company has a history of losses and expects to keep losing money for the foreseeable future 1.
- Downstream value income is uncertain, as it depends on customers developing and commercializing their products 1.
Opportunities
Risks
- Persistent losses and need for capitalhigh
The company has not reached profitability and could need additional capital, which could dilute existing shareholders 1.
- Falling quarterly revenuehigh
Program rationalization reduced revenue in the second quarter of 2026, and if the trend continues, pressure on cash flow could increase 3.
- Uncertain demand for biosecuritymedium
Demand for biosecurity services is uncertain, and the segment has been divested, changing the company's risk profile 12.
- Dependence on public budgetsmedium
If government budget priorities change or funding is interrupted, contracts could be delayed 3.
- Securities litigationlow
The company has been a target of legal actions, and the outcome of pending matters is uncertain and could affect its reputation 1.
Investment thesis
What would need to be true (bull case)
- If public investment in autonomous labs turns into large contracts, revenue could recover and the Nebula platform could become a competitive advantage 3.
- Lower-priced services for U.S. pharmaceutical customers could attract new clients quickly, as early signs from ADME-One suggest 3.
- Through reusable data and AI models, the company could improve margins over time as the number of programs grows 1.
What would break the thesis
- If falling revenue continues and costs stay high, losses could persist and require additional capital 13.
- Public funding has been announced but is not assured, and any delay could push back contracts 3.
- The divestiture of the biosecurity segment reduces the revenue base and could make the company more dependent on research services with volatile demand 2.
What to watch
- Development of cell engineering revenue compared with the second quarter of 2026Q3 2026
- Whether 2026 total cash burn stays within the 125 to 150 million USD range2026
- Number of new autonomous lab contracts with universities and governmentsnext 10-K
- Expansion of the ADME-One service and number of new customersQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Ginkgo does not make end products; it sells biological R&D services on its cell engineering platform, which help customers bring their products to market 1. The company operates two segments: cell engineering, offering tools and R&D services, and biosecurity, with services for governments such as Canopy and Horizon 1. In the second quarter of 2026 revenue was 20 million USD, compared with 39 million USD in the same period of the prior year 3. The company reported that on April 3, 2026 it completed the divestiture of its Biosecurity business, which is now presented as discontinued operations 2.
Segments
Cell engineering
This is the main segment, covering cell engineering solutions paid through fixed fees for a defined scope and sometimes through milestone payments tied to technical criteria, as well as automation tools such as RAC systems and Datapoints services 12. In recent years the company tied part of its revenue to downstream value share, through royalties and commercial milestones, but removed this from certain program types from the second quarter of 2024 1.
Biosecurity (divested)
The biosecurity segment, with the Canopy and Horizon offerings, provided government services for monitoring biological threats 1. On April 3, 2026 the business was transferred in exchange for a minority interest in the purchaser, and its results are presented as discontinued operations 2.
Market context
The autonomous lab market has gained important public support: the White House called for building autonomous laboratories backed by 5 billion USD through the Genesis Mission, and the NSF is investing about 400 million USD in a national network of cloud labs 3. Ginkgo has received commissions linked to these programs, including universities and a 97-instrument lab at PNNL worth 47 million USD 3. If these investments turn into contracts they could support future revenue, though the same source indicates demand is still in an early ramp phase.
Trends
- Public investment in autonomous labstailwind
Government programs and the NSF could open contracts for automated laboratory infrastructure, which could support demand for Ginkgo systems and services 3.
- Shift of experiments toward automation and AItailwind
Pharmaceutical companies seek high-quality data for AI models, and automated labs could deliver it faster than manual work 13.
- Program rationalization and falling revenueheadwind
Revenue declined because of program rationalization under the restructuring, and losses remain significant 3.
- Reliance on funding and government demandmixed
Demand for biosecurity services and public funding are uncertain, and the company has no commitments for future funding 1.
Competitive position
Ginkgo competes with contract research organizations and with customers' own in-house labs, which the sources describe as traditional alternatives 1. The sources do not name listed competitors, so only competitive categories are given here; the company also compares its ADME-One service with a provider in China, without naming a listed company 3.
- Contract research organizations (CROs)
They provide specific workflows that pharmaceutical customers outsource 1.
- Customers' in-house labs
They perform cell engineering by hand, an alternative to the Ginkgo platform 1.
- Chemical service providers in Asia
The company compares its ADME-One service with a provider in China, not named as a listed company 3.
- Other automated laboratory providers
The sources do not identify them, but the autonomous lab market is expanding with public investment 3.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- De la o sămânță adusă din China la cel mai cunoscut decor de nunți. Călătoria de 167 de ani a unui arbore de ginkgoAntena 3 CNN · 28 Oct 2026 · RO
- Timiș/Cei mai vechi arbori din Timișoara - stejari plantați în 1850 și un Ginkgo Biloba de 120 de aniAgerpres · 15 Oct 2026 · RO
- De la Ginkgo biloba al familiei Mühle la stejarii seculari: Primăria Timișoara și Asociația Peisagiștilor începe identificarea arborilor remarcabiliG4Media · 13 Oct 2026 · RO
- Berlin’s Apheris and Ginkgo bring pharma giants together to train AI on 10,000 antibodiesTech.eu · 29 Sept 2026 · EN
The latest news item in our archive is from 28 Oct 2026; the newest SEC filing is from 29 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report29 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report30 Jul 2026Regulation FD disclosure · Financial statements and exhibits
- Current report12 Jun 2026Shareholder vote
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Proxy statement29 Apr 2026
- Current report07 Apr 2026Acquisition or disposition of assets · Financial statements and exhibits
- Current report27 Feb 2026Material agreement · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Ginkgo Bioworks Holdings, Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Ginkgo Bioworks Holdings, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Ginkgo Bioworks Holdings, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.