Ginkgo Bioworks (DNA) Q4 2025 earnings summary

Executive summary

• Strategic focus shifted to autonomous labs as the core platform, with divestiture of the biosecurity business to enable targeted investment and operational focus on robotics and AI-driven lab automation.

• Major contract wins include a $47 million deal with Pacific Northwest National Laboratory and a high-profile collaboration with OpenAI deploying GPT-5, demonstrating leadership in AI-integrated lab automation and achieving a 40% reduction in protein production costs.

• Significant restructuring and cost controls over the past two years reduced annual cash burn by 55%, positioning the company for sustainable investment in core growth areas.

• Expansion of the Boston autonomous lab from 50 to 100 racks is underway, aiming to showcase scalability and attract further commercial and research partnerships.

• Partnerships announced with ARPA-H, University of Illinois Urbana-Champaign, Carnegie Mellon, Agricen, and Deep Origin, and launch of Datapoints business serving top pharma customers.

Financial highlights

• Full year 2025 revenue was $170 million, down 25% year-over-year; Q4 2025 revenue was $33 million, down 24% from Q4 2024.

• Cell engineering revenue for FY2025 was $133 million, down 24% year-over-year; Biosecurity revenue was $37 million, down 30%.

• Adjusted EBITDA improved to -$36 million in Q4 2025 from -$57 million in Q4 2024; full-year Adjusted EBITDA was -$167 million, up from -$293 million in 2024.

• Full year 2025 GAAP net loss was $(313) million, improved from $(547) million in 2024.

• Cash burn for 2025 was $171 million, a 55% reduction from $383 million in 2024; year-end cash and equivalents totaled $423 million.

Outlook and guidance

• No revenue guidance for 2026; focus is on cash burn, expected to be $125 million–$150 million, reflecting continued cost discipline and investment in autonomous labs.

• 2026 priorities include completing the biosecurity business divestiture, expanding autonomous lab capacity, and commercializing lab automation offerings through direct sales and cloud lab services.