Ginkgo Bioworks reported Q2 2024 revenue of $56 million, down 30% YoY, with Cell Engineering revenue declining 20% to $36 million and Biosecurity revenue at $20 million. The quarter's operating loss was $223 million, including $38 million in stock-based compensation and $72 million in restructuring costs.The company has begun implementing its previously announced restructuring plan, with workforce reductions starting in June 2024 expected to achieve over $85 million in annualized savings by mid-2025. The plan includes consolidating office and laboratory operations into fewer locations, with facility consolidation actions targeted for completion in 2025.Despite restructuring, Ginkgo maintained its 2024 revenue guidance of $170-190 million, including $120-140 million from Cell Engineering and at least $50 million from Biosecurity. The company added 18 new programs in Q2, including its first Lab Data as a Service deals with a large tech company, while maintaining $730 million in cash and cash equivalents.

Ginkgo Bioworks reported Q2 2024 revenue of $56 million, down 30% YoY, with Cell Engineering revenue declining 20% to $36 million and Biosecurity revenue at $20 million. The quarter's operating loss was $223 million, including $38 million in stock-based compensation and $72 million in restructuring costs.The company has begun implementing its previously announced restructuring plan, with workforce reductions starting in June 2024 expected to achieve over $85 million in annualized savings by mid-2025. The plan includes consolidating office and laboratory operations into fewer locations, with facility consolidation actions targeted for completion in 2025.Despite restructuring, Ginkgo maintained its 2024 revenue guidance of $170-190 million, including $120-140 million from Cell Engineering and at least $50 million from Biosecurity. The company added 18 new programs in Q2, including its first Lab Data as a Service deals with a large tech company, while maintaining $730 million in cash and cash equivalents.