Ginkgo Bioworks (DNA) Q2 2026 earnings summary

Executive summary

• Strategic focus centers on autonomous-lab technology, consolidating R&D services onto a single platform and pursuing sales across biopharma, national labs, and universities.

• Biosecurity was divested in April 2026 and is reported as discontinued operations; continuing operations now comprise a single cell-engineering segment.

• Nebula expanded to 105 racks and operates 24/7, supporting dozens of scientists and more than 100 protocol runs per day.

• Autonomous-lab projects were secured for MIT, Caltech, Northwestern, and the University of Maryland; the PNNL system is also being expanded.

• Restructuring-related cost reductions continued alongside investment in AI, robotics, software, and autonomous labs.

Financial highlights

• Q2 2026 revenue was $20.2M, down 48% YoY; H1 revenue was $39.6M, down 49% YoY. Declines reflected reduced scope with major customers and lower non-cash revenue.

• Q2 net loss from continuing operations was $57.3M vs. $53.2M a year earlier; Adjusted EBITDA was $(36.3)M vs. $(25.4)M.

• Q2 R&D expense was $30M, down 4% YoY; G&A was $12M, down 26%, reflecting restructuring efforts substantially completed by end-2025.

• Q2 cash burn was $45M; H1 cash burn was $93M vs. $96M, a 3% decrease. H1 net cash used in operating activities was $88.6M.

• Cash, cash equivalents, and marketable securities totaled $302.2M at June 30, 2026; $87M of restricted cash was designated for customer-related and certain operating activities.

Outlook and guidance

• FY2026 cash-burn guidance was reaffirmed at $125M–$150M, compared with $171M in FY2025.

• Cash-burn efficiency is expected to improve further in H2 2026 versus H1; R&D and G&A expenses are expected to remain stable or decline, while tools investment may lift R&D.

• No revenue guidance was provided; autonomous-lab equipment revenue is generally recognized upon delivery and installation, with services and software revenue continuing after deployment.

• Expenditures are expected to exceed revenue for at least the next 12 months, with liquidity considered sufficient to fund operations.