On August 8, 2024, Ginkgo Bioworks Holdings, Inc. reported its financial results for the second quarter ended June 30, 2024. The company announced a decrease in total revenue to $56 million, a 30% drop from the previous year, primarily due to a ramp down in K-12 testing in its Biosecurity segment. The Cell Engineering segment also saw a 20% revenue decline. The loss from operations increased to $(223) million, including stock-based compensation and restructuring costs. Ginkgo began a restructuring plan in May 2024, which included workforce reductions and facility consolidations, aiming to complete most actions in 2025. The estimated cost for the reduction in force is between $18.0 million to $22.0 million, primarily in the Cell Engineering segment. The company reaffirmed its 2024 total revenue outlook of $170-$190 million and is taking measures to reach Adjusted EBITDA breakeven by the end of 2026. Ginkgo's cash and cash equivalents balance stood at $730 million at the end of the second quarter.

On August 8, 2024, Ginkgo Bioworks Holdings, Inc. reported its financial results for the second quarter ended June 30, 2024. The company announced a decrease in total revenue to $56 million, a 30% drop from the previous year, primarily due to a ramp down in K-12 testing in its Biosecurity segment. The Cell Engineering segment also saw a 20% revenue decline. The loss from operations increased to $(223) million, including stock-based compensation and restructuring costs. Ginkgo began a restructuring plan in May 2024, which included workforce reductions and facility consolidations, aiming to complete most actions in 2025. The estimated cost for the reduction in force is between $18.0 million to $22.0 million, primarily in the Cell Engineering segment. The company reaffirmed its 2024 total revenue outlook of $170-$190 million and is taking measures to reach Adjusted EBITDA breakeven by the end of 2026. Ginkgo's cash and cash equivalents balance stood at $730 million at the end of the second quarter.