Ginkgo Bioworks Holdings, Inc. reported its financial results for the third quarter ended September 30, 2024, with a total revenue of $89 million, marking a 61% increase from the previous year, primarily due to a non-cash revenue from a terminated customer agreement. Excluding this, revenue decreased by 21% to $44 million. The company also announced the appointment of Dr. Sri Kosuri to its Board as a Class B director, with his term expiring at the 2025 annual meeting. Dr. Kosuri is the CEO of Octant Bio, a commercial partner of Ginkgo, and has a background in synthetic biology, genomics, and biochemistry. Ginkgo expects to receive approximately $330,000 in revenue from Octant during the 2024 fiscal year. Dr. Arie Belldegrun resigned from the Board on November 7, 2024, after serving since...Show More

Ginkgo Bioworks Holdings, Inc. reported its financial results for the third quarter ended September 30, 2024, with a total revenue of $89 million, marking a 61% increase from the previous year, primarily due to a non-cash revenue from a terminated customer agreement. Excluding this, revenue decreased by 21% to $44 million. The company also announced the appointment of Dr. Sri Kosuri to its Board as a Class B director, with his term expiring at the 2025 annual meeting. Dr. Kosuri is the CEO of Octant Bio, a commercial partner of Ginkgo, and has a background in synthetic biology, genomics, and biochemistry. Ginkgo expects to receive approximately $330,000 in revenue from Octant during the 2024 fiscal year. Dr. Arie Belldegrun resigned from the Board on November 7, 2024, after serving since September 2021. Ginkgo's third-quarter loss from operations was $(55) million, a significant improvement from the $(286) million loss in the prior year. Adjusted EBITDA was $(20) million, up from $(84) million in the previous year. The company ended the quarter with a cash balance of $616 million and updated its full-year 2024 revenue guidance to $215-235 million, reflecting the impact of the non-cash deferred revenue release.