Ginkgo Bioworks (DNA) Q1 2026 earnings summary

Executive summary

• Strategic focus for 2026 is on autonomous labs, consolidating R&D and lab services onto platforms like Nebula, with major expansion and plans to double capacity.

• Completed the divestiture of the Biosecurity business in April 2026, now reporting as a single segment focused on lab automation and AI-driven services.

• Early adoption by national labs, government partnerships, and strategic collaborations with AWS, Benchling, Tamarind Bio, ProQR, and Amazon are driving new sales channels and customer traction.

• Demonstrated significant cost improvements in protein synthesis and showcased Nebula to over 500 visitors at SLAS 2026.

• Service businesses and solutions are being migrated onto the Nebula platform, targeting pharma, biotech, and agriculture customers.

Financial highlights

• Q1 2026 revenue was $19 million, down 49% year-over-year; net loss from continuing operations was $76 million, improved from $83 million in Q1 2025.

• Adjusted EBITDA for Q1 2026 was $(42) million, a slight improvement from $(44) million in Q1 2025.

• Cash, cash equivalents, and marketable securities totaled $373 million as of March 31, 2026, with no bank debt.

• Cash burn in Q1 2026 was $48 million, down 17% from $58 million in Q1 2025.

• Gross margin for Q1 2026 was approximately 84%.

Outlook and guidance

• Reaffirmed full-year 2026 cash burn guidance of $125 million–$150 million, balancing cost efficiency with continued investment in autonomous labs.

• Management expects R&D and G&A expenses to remain consistent or decline in 2026, reflecting restructuring.

• Expenditures are anticipated to exceed revenue over the next 12 months as investments continue in R&D and tools offerings.

• Cash resources are expected to fund operations for at least the next 12 months.

• Focus remains on scaling AI/robotics investments and expanding Nebula platform capacity.