Ginkgo Bioworks Holdings Inc
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
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10. Supplemental Financial Information
- Supplemental Financial Information
Cash, Cash Equivalents and Restricted Cash
The reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheet to the totals shown within the consolidated statements of cash flows is as follows (in thousands):
| As of December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash and cash equivalents | $561,572 | $944,073 | $1,315,792 |
| Restricted cash included in prepaid expenses and other current assets (1) | 5,839 | 4,789 | 8,221 |
| Restricted cash included in other non-current assets (1) | 38,332 | 40,722 | 45,568 |
| Total cash, cash equivalents and restricted cash | $605,743 | $989,584 | $1,369,581 |
(1)Includes cash balances collateralizing letters of credit associated with the Company’s facility leases and customer prepayments requiring segregation and restrictions in its use in accordance with the customer agreement.
Property, Plant and Equipment, net
Property, plant and equipment, net consisted of the following (in thousands):
| As of December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Lab equipment | $150,887 | $147,185 |
| Leasehold improvements | 135,964 | 71,564 |
| Buildings and facilities | 48,255 | 47,034 |
| Construction in progress | 1,984 | 15,830 |
| Computer equipment and software | 14,897 | 14,780 |
| Furniture and fixtures | 6,545 | 6,458 |
| Land | 6,060 | 6,060 |
| Total property, plant, and equipment | 364,592 | 308,911 |
| Less: Accumulated depreciation | (160,872) | (120,718) |
| Property, plant and equipment, net | $203,720 | $188,193 |
Depreciation expense for the years ended December 31, 2024, 2023 and 2022 totaled $45.0 million, $54.8 million and $36.9 million, respectively.
During the year ended December 31, 2024, the Company determined that $5.8 million of construction in progress assets were impaired and this loss is included in general and administrative expense in the consolidated statements of operations and comprehensive loss.
During the year ended December 31, 2023, the Company identified excess lab equipment attwo of its facilities whereby the assets were sold, classified as held for sale or otherwise impaired, resulting in aggregate impairment losses of $25.2 million, included in general and administrative expense in the consolidated statements of operations and comprehensive loss.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
| As of December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating lease liabilities | $28,630 | $16,419 |
| Employee compensation and benefits | 9,894 | 15,678 |
| Contingent consideration liability | 5,438 | 18,468 |
| Biosecurity costs | 4,032 | 3,564 |
| Deferred other income | 2,889 | 4,009 |
| Employee termination costs | 2,387 | — |
| Professional fees and securities litigation costs | 2,167 | 27,884 |
| External research and development expenses | 713 | 2,739 |
| Finance lease liabilities | 335 | 1,055 |
| Property and equipment | 138 | 2,667 |
| Other current liabilities | 8,764 | 17,568 |
| Accrued expenses and other current liabilities | $65,387 | $110,051 |
Supplemental cash flow information
The following table presents supplemental cash flow information for each reporting period (in thousands):
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash paid for interest | $32 | $83 | $92 |
| Cash paid for income taxes | 894 | 670 | — |
| Non-cash investing and financing activities: | |||
| ROU assets obtained in exchange for new operating lease liabilities upon adoption of ASC 842 | $— | $— | $147,744 |
| ROU assets obtained in exchange for new finance lease liabilities upon adoption of ASC 842 | — | — | 3,397 |
| ROU assets obtained in exchange for new operating lease liabilities | 223,853 | 27,668 | 79,984 |
| ROU assets obtained in exchange for new finance lease liabilities | — | — | 1,729 |
| Purchase of minority interest in Cooksonia | — | — | 7,390 |
| Purchases of property and equipment included in accounts payable and accrued expenses | 2,565 | 2,915 | 12,881 |
| Equity received in related parties | — | — | 8,873 |
| Convertible financial instruments received for Cell Engineering services | — | 4,542 | 29,074 |
| Equity securities and warrants received for Cell Engineering services | 55 | 17,450 | 3,423 |
| Non-cash consideration paid for the acquisition of Zymergen | — | — | 231,750 |
| Common stock issued for acquisitions | 18,245 | 6,820 | 40,382 |
| Acquisition date fair value of contingent consideration liability | — | — | 19,912 |
| Common stock issued as settlement of contingent consideration liabilities | 14,742 | 8,896 | — |
| Common stock issued for retention payments related to business and asset acquisitions | 5,258 | — | — |
| Return of investment in equity securities for reduction in deferred revenue | 6,760 | — | — |
| Conversion of notes receivable for common stock | 10,476 | — | — |
| Equity issuance costs in accounts payable and accrued expenses | — | — | 578 |
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