Ginkgo Bioworks Holdings, Inc.
For the period ended Aug 7, 2025. Filed Aug 7, 2025.
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Aug 7, 2025 · Filed Aug 7, 2025
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EX-99.1 · (2)See Note 3, Restructuring, for composition of costs
(2)See Note 3, Restructuring, for composition of costs.
(3)The carrying cost of excess space includes base rent, common area maintenance charges, and real estate taxes associated with facilities the Company is not occupying, net of any sublease income from these spaces.
(4)Represents transaction and integration costs directly related to mergers and acquisitions, including: (i) legal, consulting, and accounting fees associated with acquisitions; (ii) post-acquisition employee retention bonuses; (iii) (gain)/loss from changes in the fair value of contingent consideration liabilities resulting from acquisitions; and (iv) costs associated with the Zymergen Bankruptcy, as well as securities litigation costs.
(5)Includes interest income, interest expense, loss on investments, changes in fair value of certain assets and liabilities, and other gains and losses.
Ginkgo Bioworks Holdings, Inc.
Selected Non-GAAP Financial Measures
(in thousands, unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2025 | 2024 |
| Net loss (1) | $ (60,300) | $ (217,181) | $ (151,257) | $ (383,092) |
| Interest income, net | (6,083) | (10,313) | (12,164) | (22,024) |
| Income tax (benefit) expense | (283) | 190 | (195) | 221 |
| Depreciation and amortization | 15,793 | 17,330 | 31,159 | 30,199 |
| EBITDA | (50,873) | (209,974) | (132,457) | (374,696) |
| Stock-based compensation (2) | 22,526 | 38,226 | 43,326 | 80,623 |
| Goodwill impairment | — | 47,858 | — | 47,858 |
| Restructuring charges (3) | 3,674 | 17,066 | 8,947 | 17,066 |
| Merger and acquisition related expense (income) (4) | (3,617) | 4,512 | (4,535) | 6,906 |
| Loss on investments | 229 | 6,826 | 3,922 | 9,370 |
| Change in fair value of warrant liabilities | — | (3,233) | — | (4,173) |
| Change in fair value of convertible notes | — | (480) | 5,285 | 846 |
| Adjusted EBITDA | $ (28,061) | $ (99,199) | $ (75,512) | $ (216,200) |
(1)All periods include non-cash revenue when earned, including $7.5 million recognized in the six months ended June 30, 2025, pursuant to the release of deferred revenue related to the mutual termination of a customer agreement.
(2)Includes $0.3 million and $1.1 million in employer payroll taxes for the three months ended June 30, 2025 and 2024, respectively, and $0.6 million and $2.7 million for the six months ended June 30, 2025 and 2024, respectively.
(3)Restructuring charges primarily consist of employee termination costs from the reduction in force commenced in June 2024.
(4)Represents transaction and integration costs directly related to mergers and acquisitions, including: (i) legal, consulting, and accounting fees associated with acquisitions; (ii) post-acquisition employee retention bonuses; (iii) (gain)/loss from changes in the fair value of contingent consideration liabilities resulting from acquisitions; and (iv) costs associated with the Zymergen Bankruptcy, as well as securities litigation costs. Not included in this adjustment are acquired in-process research and development expenses, which totaled zero and $3.0 million for the three months ended June 30, 2025 and 2024, respectively, and zero and $19.8 million for the six months ended June 30, 2025 and 2024, respectively.
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