Latest news with #Ginkgo
Yahoo
07-08-2025
- Business
- Yahoo
Ginkgo Bioworks Reports Second Quarter 2025 Financial Results
Ginkgo provides an update on its restructuring, including achievement of its expanded $250 million cost savings targets BOSTON, Aug. 7, 2025 /PRNewswire/ -- Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, "Ginkgo"), which is building the leading platform for cell programming and biosecurity, today announced its results for the second quarter ended June 30, 2025. The update, including a webcast slide presentation with additional details on the second quarter, as well as supplemental financial information will be available at Second Quarter 2025 Financial Results Second quarter 2025 Total revenue of $50 million, down from $56 million in the comparable prior year period Second quarter 2025 Cell Engineering revenue of $39 million, up from $36 million in the comparable prior year period, an increase of 8%, primarily driven by growth with biopharma and government customers Second quarter 2025 Biosecurity revenue of $10 million, down from $20 million in the comparable prior year period Second quarter 2025 GAAP net loss of $(60) million, compared to $(217) million in the comparable prior year period Second quarter 2025 Adjusted EBITDA of $(28) million, up from $(99) million in the comparable prior year period, driven by a decrease in operating expenses Cash, cash equivalents and marketable securities balance as of June 30, 2025 of $474 million "Our platform is proving to be a critical engine for AI in biology, with growing demand for our automation and data generation capabilities," said Jason Kelly, co-founder and CEO of Ginkgo Bioworks. "This is translating into commercial traction, including major new government contracts and expanded service offerings in response to demand in the biopharma industry. This progress is backed by rigorous financial discipline, allowing us to achieve our $250 million annualized cost-reduction goal three months ahead of schedule." Recent Business Highlights & Strategic Positioning Ginkgo's Automation and Datapoints offerings continue to establish themselves as critical tools in AI-powered bioengineering Pacific Northwest National Laboratory (PNNL) selected Ginkgo Automation to deliver a state-of-the-art automated anaerobic phenotyping platform, to assist with what is believed to be the largest automated anaerobic system for research in the world Ginkgo launched a new in vitro ADME profiling Service, built on its proprietary RAC automation system. Designed for scale and efficiency, the Service delivers assay quality at cost-effective pricing and includes a price-matching guarantee. By automating traditionally labor-intensive assays and executing them onshore, Ginkgo enables customers to profile more compounds earlier, accelerate decision-making, train AI/ML models, and reduce costs while protecting valuable IP. This launch strengthens Ginkgo's position as a differentiated US-based partner in preclinical R&D analytical services for small molecule drug development. Ginkgo launched its first direct-to-scientist product: a cell-free protein synthesis system This E. coli-based system is optimized for high production from linear DNA, increased solubility of difficult-to-express proteins, and compatibility with automation Ginkgo continues to progress towards its objective to reach Adjusted EBITDA breakeven by the end of 2026 Ginkgo has achieved its target to reach $250 million in annualized cost reduction three months ahead of schedule, through reductions in force and other cost cutting measures. Site consolidation efforts were substantially completed by the year ended 2024, with excess space available for sublease. Full Year 2025 Outlook Ginkgo reaffirms Total revenue of $167-$187 million in 2025 Ginkgo continues to expect Cell Engineering revenue of $117-$137 million in 2025 Ginkgo expects Biosecurity revenue of at least $40 million in 2025 Conference Call DetailsGinkgo will host a videoconference today, Thursday, August 7, 2025, beginning at 5:30 p.m. ET. The presentation will include an overview of the second quarter of 2025, recent business updates, a discussion on Ginkgo's outlook, as well as a moderated question and answer session. To ask a question ahead of the presentation, please submit your questions to @Ginkgo on X (hashtag #GinkgoResults) or by sending an e-mail to investors@ A webcast link is available on Ginkgo's Investor Relations website and a replay will be made available following the presentation. Ginkgo Investor Website: Audio-Only Dial Ins: +1 646 876 9923 (New York)+1 301 715 8592 (Washington DC)+1 305 224 1968 (Miami)+1 312 626 6799 (Chicago)+1 346 248 7799 (Houston)+1 408 638 0968 (San Jose)+1 564 217 2000 (Seattle)+1 689 278 1000 (Orlando)Webinar ID: 953 3421 4604 If you experience technical difficulties with any of these dial-ins or if you need international dial-in numbers, please visit our website at for updated dial-in information. About Ginkgo BioworksGinkgo Bioworks builds the tools that make biology easier to engineer for everyone. Ginkgo R&D Solutions delivers customizable R&D packages—such as protein engineering, nucleic acid design, and cell-free systems—giving partners a comprehensive way to accelerate innovation across therapeutics, diagnostics, & manufacturing. Ginkgo Automation sells modular, integrated laboratory automation so scientists can spend their days planning and analyzing experiments rather than pipetting in the lab. Ginkgo Datapoints uses Ginkgo's in-house automation to generate the large lab data sets to power your AI models. Ginkgo Biosecurity is building and deploying the next-generation infrastructure and technologies that global leaders need to predict, detect, and respond to a wide variety of biological threats. For more information, visit and read our blog, or follow us on social media channels such as X (@Ginkgo and @Ginkgo_Biosec), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks), or LinkedIn. Forward-Looking Statements of Ginkgo BioworksThis press release, the presentation, and the conference call and webcast contain certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our plans, including with respect to technology adaptations to meet our customers' needs, strategies, including with respect to our current expectations, operations and anticipated results of operations, both business and financial, including the timing for attaining Adjusted EBITDA breakeven, impacts of our restructuring, potential customer success, including successful application of our offerings by our customers, and expectations with regard to revenue, including our ability to meet all milestones and achieve the maximum revenue available under certain of our customer arrangements, expenses, our full year 2025 outlook, and the market environment, all of which are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, market trends, or industry results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements generally are identified by the words "believe," "can," "project," "potential," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) our ability to realize near-term and long-term cost savings associated with our site consolidation plans, including the ability to terminate leases or find sub-lease tenants for unused facilities, (ii) volatility in the price of Ginkgo's securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo operates and plans to operate, variations in performance across competitors, and changes in laws and regulations affecting Ginkgo's business, (iii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, including with respect to our solutions and tools offerings, (iv) the risk of downturns in demand for products using synthetic biology, (v) the uncertainty regarding the demand for passive monitoring programs and biosecurity services, (vi) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vii) the outcome of any pending or potential legal proceedings against Ginkgo, (viii) our ability to realize the expected benefits from and the success of our Foundry platform programs and Codebase assets, (ix) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, (x) the product development, production or manufacturing success of our customers, (xi) our exposure to the volatility and liquidity risks inherent in holding equity interests in other operating companies and other non-cash consideration we may receive for our services, (xii) the potential negative impact on our business of our restructuring or the failure to realize the anticipated savings associated therewith and (xiii) the uncertainty regarding government budgetary priorities and funding allocated to government agencies. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Ginkgo's annual report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on February 25, 2025 and other documents filed by Ginkgo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Ginkgo assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ginkgo does not give any assurance that it will achieve its expectations. Use of Non-GAAP Financial MeasuresCertain of the financial measures included in this release, including Adjusted EBITDA, have not been prepared in accordance with generally accepted accounting principles ("GAAP"), and constitute "non-GAAP financial measures" as defined by the SEC. Ginkgo has included these non-GAAP financial measures because it believes they provide an additional tool for investors to use in evaluating Ginkgo's financial performance and prospects. Due to the nature and/or size of the items being excluded, such items do not reflect future gains, losses, expenses or benefits and are not indicative of our future operating performance. These non-GAAP financial measures are supplemental to, and should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. In addition, these non-GAAP financial measures may differ from non-GAAP financial measures with comparable names used by other companies. See the reconciliation below for additional information regarding certain of the non-GAAP financial measures included in this release, including a description of these non-GAAP financial measures and a reconciliation of the historic measures to Ginkgo's most comparable GAAP financial measures. Ginkgo Bioworks Contacts: INVESTOR CONTACT:investors@ MEDIA CONTACT:press@ Ginkgo Bioworks Holdings, Inc. Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share data) As of June 30, 2025As of December 31, 2024 AssetsCurrent assets:Cash and cash equivalents $ 203,566$ 561,572 Marketable securities 270,125— Accounts receivable, net 22,15221,857 Accounts receivable - related parties 974586 Prepaid expenses and other current assets 26,20818,729 Total current assets 523,025602,744 Property, plant and equipment, net 186,354203,720 Operating lease right-of-use assets 375,796394,435 Investments 32,66248,704 Intangible assets, net 66,15272,510 Other non-current assets 47,02055,336 Total assets $ 1,231,009$ 1,377,449 Liabilities and Stockholders' EquityCurrent liabilities:Accounts payable $ 11,202$ 14,169 Deferred revenue (includes $311 and $795 from related parties) 28,28727,710 Accrued expenses and other current liabilities 57,23165,387 Total current liabilities 96,720107,266 Non-current liabilities:Deferred revenue, net of current portion (includes $64,786 and $72,260 from related parties) 74,56698,783 Operating lease liabilities, non-current 428,827438,766 Other non-current liabilities 17,94416,576 Total liabilities 618,057661,391 Commitments and contingencies (Note 10)Stockholders' equity:Preferred stock, $0.0001 par value; 200,000,000 shares authorized; none issued —— Common stock, $0.0001 par value (Note 8) 65 Additional paid-in capital 6,600,1076,555,416 Accumulated deficit (5,988,814)(5,837,557) Accumulated other comprehensive income (loss) 1,653(1,806) Total stockholders' equity 612,952716,058 Total liabilities and stockholders' equity $ 1,231,009$ 1,377,449 The accompanying notes are an integral part of these condensed consolidated financial statements. Ginkgo Bioworks Holdings, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) (in thousands, except share data) Three Months Ended June 30,Six Months Ended June 30,2025202420252024 Cell Engineering revenue (1) $ 39,134$ 36,205$ 77,364$ 64,094 Biosecurity revenue 10,47020,00120,55830,056 Total revenue 49,60456,20697,92294,150 Costs and operating expenses:Cost of Biosecurity revenue 9,44211,80717,39921,009 Cost of other revenue 5,3801,9149,4701,914 Research and development 53,370134,221124,293270,678 General and administrative 43,27966,28592,322136,572 Goodwill impairment —47,858—47,858 Restructuring charges 3,67417,0668,94717,066 Total operating expenses 115,145279,151252,431495,097 Loss from operations (65,541)(222,945)(154,509)(400,947) Other income (expense):Interest income, net 6,08310,31312,16422,024 Loss on investments (229)(6,826)(3,922)(9,370) Change in fair value of warrant liabilities —3,233—4,173 Other income (expense), net (896)(766)(5,185)1,249 Total other income 4,9585,9543,05718,076 Loss before income taxes (60,583)(216,991)(151,452)(382,871) Income tax (benefit) expense (283)190(195)221 Net loss $ (60,300)$ (217,181)$ (151,257)$ (383,092) Net loss per share:Basic $ (1.10)$ (4.23)$ (2.77)$ (7.55) Diluted $ (1.10)$ (4.23)$ (2.77)$ (7.56) Weighted average common shares outstanding:Basic 54,858,98251,370,02954,552,00650,740,744 Diluted 54,858,98251,375,59954,552,00650,746,314 Comprehensive loss:Net loss $ (60,300)$ (217,181)$ (151,257)$ (383,092) Other comprehensive (loss) income:Foreign currency translation adjustment 2,586(172)3,435(3,207) Unrealized gains (loss) on available-for-sale securities (83)—24— Total other comprehensive (loss) income 2,503(172)3,459(3,207) Comprehensive loss $ (57,797)$ (217,353)$ (147,798)$ (386,299) (1) Includes related party revenue of $420 and $5,146 for the three months ended June 30, 2025 and 2024, respectively, and $8,518 and $5,819 for the six months ended June 30, 2025 and 2024, respectively. Ginkgo Bioworks Holdings, Inc. Condensed Consolidated Statements of Cash Flows (unaudited) (in thousands) Six Months Ended June 30,20252024 Cash flows from operating activities:Net loss $ (151,257)$ (383,092) Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization 31,15930,199 Stock-based compensation 42,67877,928 Goodwill impairment —47,858 Restructuring related impairment charges —4,823 Loss on investments 3,9589,370 Change in fair value of notes receivable 5,2851 Change in fair value of warrant liabilities —(4,173) Change in fair value of contingent consideration (4,232)2,284 Non-cash lease expense 14,86613,070 Non-cash in-process research and development —19,795 Other non-cash activity 462,096 Changes in operating assets and liabilities:Accounts receivable (412)(1,102) Prepaid expenses and other current assets (2,272)1,770 Operating lease right-of-use assets 3,81414,373 Other non-current assets (125)(833) Accounts payable, accrued expenses and other current liabilities (5,125)10,864 Deferred revenue, current and non-current ($7,958) and ($4,577) from related parties (23,676)(17,012) Operating lease liabilities, current and non-current (11,638)(3,866) Other non-current liabilities 5,1561,998 Net cash used in operating activities (91,775)(173,649) Cash flows from investing activities:Purchases of marketable debt securities (320,132)— Maturities of marketable debt securities 64,958— Purchases of property and equipment (7,660)(33,742) Business acquisition —(5,400) Other 262191 Net cash used in investing activities (262,572)(38,951) Cash flows from financing activities:Proceeds from exercise of stock options —84 Principal payments on finance leases (305)(494) Contingent consideration payment —(661) Net cash used in financing activities (305)(1,071) Effect of foreign exchange rates on cash and cash equivalents 260(173) Net decrease in cash, cash equivalents and restricted cash (354,392)(213,844) Cash and cash equivalents, beginning of period 561,572944,073 Restricted cash, beginning of period 44,17145,511 Cash, cash equivalents and restricted cash, beginning of period 605,743989,584 Cash and cash equivalents, end of period 203,566730,367 Restricted cash, end of period 47,78545,373 Cash, cash equivalents and restricted cash, end of period $ 251,351$ 775,740 Ginkgo Bioworks Holdings, Inc. Segment Information (in thousands, unaudited) Three Months Ended June 30,Six Months Ended June 30,2025 202420252024 Cell Engineering Revenue $ 39,134 $ 36,205$ 77,364$ 64,094 Costs and operating expenses: Cost of other revenue 3,865 1,9146,9861,914 Research and development 31,065 84,11379,735166,011 General and administrative 14,141 33,20232,16871,446 Cell Engineering operating loss (9,937) (83,024)(41,525)(175,277) Biosecurity Revenue 10,470 20,00120,55830,056 Costs and operating expenses: Cost of Biosecurity revenue 8,583 11,80715,80621,009 Research and development — 458—578 General and administrative 6,702 11,17914,75123,130 Biosecurity operating loss (4,815) (3,443)(9,999)(14,661) Total segment operating loss (14,752) (86,467)(51,524)(189,938) Reconciling items to reconcile total segment operating loss to loss before income taxes: Stock-based compensation (1) 22,526 38,22643,32680,623 Goodwill impairment — 47,858—47,858 Depreciation and amortization 15,793 17,33031,15930,199 Restructuring charges (2) 3,674 17,0668,94717,066 Carrying cost of excess space (net of sublease income) (3) 12,413 7,38324,0887,383 Merger and acquisition related expense (income) (4) (3,617) 4,512(4,535)6,906 Acquired in-process research and development — 2,978—19,849 Other (income) expense, net (5) (4,958) (4,829)(3,057)(16,951) Loss before income taxes $ (60,583) $ (216,991)$ (151,452)$ (382,871) (1) 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 in employer payroll taxes for six months ended June 30, 2025 and 2024, respectively. (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) 2025202420252024 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 15,79317,33031,15930,199 EBITDA (50,873)(209,974)(132,457)(374,696) Stock-based compensation (2) 22,52638,22643,32680,623 Goodwill impairment —47,858—47,858 Restructuring charges (3) 3,67417,0668,94717,066 Merger and acquisition related expense (income) (4) (3,617)4,512(4,535)6,906 Loss on investments 2296,8263,9229,370 Change in fair value of warrant liabilities —(3,233)—(4,173) Change in fair value of convertible notes —(480)5,285846 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. View original content to download multimedia: SOURCE Ginkgo Bioworks Error in retrieving data Sign in to access your portfolio Error in retrieving data
Time Business News
21-07-2025
- Business
- Time Business News
Clean Feed Trends Fuel Growth in Compound Feeds and Additives
The mixture of raw materials and additives formulated for meeting the nutritional need of animals are known as compound feeds. With changes in consumer preference, advances in technology, and an increased focus on conservation the market for compound feeds and additives has increased rapidly. Consumer concerns about antibiotic resistance and a desire for cleaner, more transparent food production methods are among the primary drivers of this shift. The rise in demand for both natural and organic feed additives, including phytogenic, probiotics, and prebiotics is a prominent development in this field. Key Growth Drivers and Opportunities Rising Focus on Animal Welfare: The natural feed that encourage the health promotion of animals without depending on other synthetic chemicals or antibiotics are key factors of growing focus of animal welfare. Ethically sourced animal products are more preferred by consumers and regulators that push the compound feed producers to produce more plant-based, organic and enzyme-rich additives. The animal digestion, nutrition and immunity are boosted with natural solutions along with overall well-being. This measure also supports and aligns with sustainable and humane livestock practices. Challenges Major challenges consist of animal welfare and health concerns with consumers and livestock producers driving more demand for feed formulations encouraging health of animals and utilizing the natural additives. As more consumers purchase prefer animal products sourced from ethically raised livestock, the purchasing decisions are influenced with growing awareness that excludes the growth promoters and antibiotics slowing down the market growth. Producers are adopting feed solutions that incorporate natural ingredients that has good health impact. Innovation and Expansion NOVUS and Ginkgo Team Up for Next-Gen Feed Additives In October 2024, to develop modern feed additives for animal agriculture, NOVUS International announced a partnership with Ginkgo Bioworks. The given collaboration has great emphasis on promoting synthetic biology for creating sustainable and precise solutions regarding the animal nutrition, aiming to improve the livestock health and overall performance. The advanced cell programming platform of Ginkgos and NOVUS's animal nutrition expertise boos t innovation in bio-based and plant-based additives. A growing trend is reflected with given strategic move towards sustainable solutions in current animal agriculture. Volac Launches Feed Additives Division for Sustainable Livestock In March 2023, a New feed additives division was launched by Volac which is a UK-based company to majorly focus on production of sustainable livestock. To provide technical support and evidence-based products that are designed to enhance the efficiency and sustainability of production of livestock systems on global scale. The strategic initiative aims for reducing the environmental impact, improving animal performance and driving more profitability for farmers. With integration between on-farm application and research-based development, Volac solidifies its position as key player in sustainable animal agriculture. Sustainable Additives, Expanding Markets The key players operating in the compound feeds and additives include, Cargill, Incorporated, ADM, Guangdong Haid Group Co., Ltd, New Hope Group, LAND O'LAKES, and others aiming antibiotic resistance and a desire for cleaner, more transparent food production methods are among the primary drivers of this shift. About Author: Prophecy is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business. TIME BUSINESS NEWS
New Indian Express
28-06-2025
- Business
- New Indian Express
Love Letter to Japan
Hyderabad's dining scene recently welcomed a refined Japanese twist as Zega at Sheraton Hyderabad played host to a limited-edition culinary pop-up Zega × Ginkgo. This immersive dining experience marked the debut of Pune's celebrated Japanese eatery Ginkgo in the city, offering a rare opportunity to explore the nuances of authentic Japanese cuisine. Founded in Pune by hospitality entrepreneur Siddhi Gokhale and Japanese cuisine specialist Chef Brehadeesh Kumar, Ginkgo is known for its mastery of Kaiseki Ryori, an elegant, seasonal, multi-course tradition and vibrant Izakaya-style dishes that celebrate both authenticity and innovation. 'I started Ginkgo four and a half years ago in Pune, when I was just 23,' shares Chef Brehadeesh, adding, 'My love for Japan began long before that; I studied the language for nearly eight to nine years.' The fascination, he recalls, started with a small gift from his grandfather — a 10 Yen coin. 'It was so meticulously carved. I kept wondering, what kind of people live in a country where even the coins have such detail?' he shares. This childhood curiosity became a lifelong passion. Chef Brehadeesh began studying Japanese in classes 11 and 12, later pursuing Culinary Arts at IHM Mumbai, followed by a BA in Japanese Studies in Pune. 'I was determined to go to Japan,' he says, adding, 'So I applied for the MEXT scholarship from the Japanese government and got it. I lived there for two years.' His commitment and craft recently earned him the title of Japanese Cuisine Goodwill Ambassador, one of the first non-Japanese chefs in India to receive the honour. 'It's a big responsibility, sharing the essence of Japanese cuisine authentically. I love introducing Japanese food to Indians and Indian food to the Japanese. There's so much more to both than just sushi or curry.'
Yahoo
10-06-2025
- Business
- Yahoo
Ginkgo MIC Strengthens Investor Resilience Amid Global Pressures and Reaffirms Confidence with Top-Tier Analyst Rating in Mid-Year Market Update
TORONTO, ON AND VANCOUVER, BC / / June 10, 2025 / Ginkgo Mortgage Investment Corporation ("Ginkgo MIC") recently hosted its virtual Mid-Year Market Update, providing valued investors with timely insights into the fund's performance and strategic direction amid ongoing global trade tensions and economic uncertainty. In keeping with its commitment to open communication, Ginkgo's leadership addressed current market realities-including inflationary pressures, rising unemployment, and continued volatility in the Canadian housing market. As of February 2025, Ginkgo MIC's total assets have grown by 8% to $187 million, while the portfolio's average loan-to-value (LTV) ratio has been further reduced to 66%. The percentage of loans delinquent over 90 days has remained stable at 3.56%, supported by disciplined lending practices, tighter underwriting standards, and a renewed focus on borrower quality and cash flow. To further insulate the fund against market volatility, Ginkgo plans to increase its bad debt provisions to $2 million, reinforcing its ability to maintain stable distributions even in a shifting economic environment. "Our team anticipated that 2025 would be a challenging year, as shared during our February AGM," said Henry Tse, CEO of Ginkgo MIC. "Despite seven interest rate cuts by the Bank of Canada, the housing market remains subdued, and broader economic uncertainty continues to grow." Up to this point, Ginkgo has maintained its annual dividend rates at 9.75% for Series 1 and 9.0% for Series 2 Preferred Shares. "To support long-term portfolio stability and to compete more effectively in the market, it is time to further strengthen our financial position," Tse added. As a result, effective July 2025, Ginkgo's Board has revised its target dividends to 9.25% for Series 1 and 8.5% for Series 2 Preferred Shares. These rates remain highly competitive and reflect Ginkgo's focus on balancing attractive yields with prudent capital preservation. Demonstrating external confidence in Ginkgo's strategy, Fundamental Research Corp (FRC) recently upgraded Ginkgo MIC to a 2+ rating-one of the highest in the industry based on FRC's latest annual review. This upgrade highlights Ginkgo's consistent dividend history, strong governance practices, and commitment to transparency. To access the full FRC analysis, please click here: Read the 2025 FRC Report Ginkgo MIC remains focused on protecting investor capital and adapting its strategies to meet the realities of today's evolving market. For more information about this news release or Ginkgo MIC's fund performance, please visit email investor@ or contact Yvonne Leung at 416-990-5567. About The Corporation: Ginkgo Mortgage Investment Corporation was founded in 2011 and serves across Canada as an alternative lender. The MIC provides dividends to investors through a diversified portfolio that is secured by properties primarily in the Greater Toronto Area (GTA), Greater Vancouver Area (GVA), Alberta (Edmonton and Calgary) and the Winnipeg communities. Since inception, Ginkgo has paid over $60 million dividends to investors. Legal Disclaimers This press release is intended for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. No securities regulatory authority or regulator has assessed the merits of the information herein or reviewed this press release. Further, the contents of this press release should be read in conjunction with Ginkgo's offering memorandum dated November 30, 2023, as amended from time to time, a copy of which can be made available to you by contacting us. Past Performance; No Guarantees Past performance is not a guarantee of future results and readers should not assume that the future performance of Ginkgo will equal or better Ginkgo's historical performance. Target yields with respect to Ginkgo's preference shares are merely targets determined from time to time by the Board of Directors in its sole discretion based on several factors including but not limited to the general economic conditions, local real estate markets and prevailing levels of interest rates. The payment of dividends is subject to the discretion of the Board of Directors to establish working capital and other reserves for Ginkgo. Readers should not confuse Ginkgo's target yields with Ginkgo's rate of return or yield. There is no guarantee that Ginkgo will be able to pay dividends at the levels targeted. The amount of dividends declared may fluctuate from time to time and there can be no assurance that Ginkgo will declare any dividends in any particular month or months or that Ginkgo will declare a special dividend in for the same amount or at all in subsequent fiscal periods. Forward-Looking Statements Certain statements provided in this press release, to the extent that they relate to Ginkgo and its views or predictions about possible events, conditions or results of operations that are based on assumptions about future economic conditions and courses of action and includes future-oriented financial information with respect to prospective results of operations, financial position or cash flows that is presented either as a forecast or projection, may be "forward-looking statements" within the meaning of that phrase under applicable Canadian securities laws. Although Ginkgo believes that expectations reflected in any forward-looking statements provided in this press release are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. Forward-looking statements are based on the current expectations, estimates and projections of Ginkgo, and involve a number of known and unknown risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. The forward-looking statements herein are made as of the date they are provided in this press release. Except as otherwise required by law, Ginkgo does not intend to, and assumes no obligation to, update or revise any forward-looking statements it may provide in this press release, whether because of new information, plans or events or otherwise. Readers are cautioned not to place undue reliance on any forward-looking statements in this press release as there can be no assurance that the conditions, events, plans and assumptions on which they are based will occur. SOURCE: Ginkgo Mortgage Investment Corporation View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
Ginkgo Bioworks Announces Appointment of Steven Coen as Chief Financial Officer
BOSTON, May 21, 2025 /PRNewswire/ -- Ginkgo Bioworks (NYSE: DNA, "Ginkgo" or the "Company"), which is building the leading platform for cell programming and biosecurity, today announced that Mark Dmytruk, the Company's Chief Financial Officer, intends to resign from his role at the Company on May 30, 2025 to accept a position at another organization and Steven Coen, CPA, the Company's Chief Accounting Officer, will become Chief Financial Officer, effective upon Mr. Dmytruk's resignation. Mr. Coen joined the Company on May 1, 2023 with over 30 years of public accounting and corporate finance leadership experience. Prior to his role at Ginkgo, Mr. Coen was the Corporate Vice President and Corporate Controller for Charles River Laboratories, a publicly held global contract research organization for pharmaceutical and biotechnology companies, governmental agencies and leading academic institutions, with approximately 20,000 employees across 150 locations in over 20 countries and annual revenues of approximately $4.0 billion. Prior to that, Mr. Coen served in accounting and finance leadership roles in the technology and medical device industries after spending more than 17 years in the audit practice at Deloitte & Touche LLP. "We thank Mark for his dedicated service to the Company and his leadership of the finance team through many transformational phases at Ginkgo and wish him well in his next opportunity," said Jason Kelly, co-founder and CEO of Ginkgo Bioworks. "I'm excited to elevate Steve to his new role stewarding the finance and accounting functions and we're fortunate to have the continuity of building on his experience at Ginkgo the past two years." "It has been a privilege to work alongside the leadership team and all the talented Bioworkers across Ginkgo," said Mr. Dmytruk. "I am deeply grateful for the opportunity to have contributed to Ginkgo's mission of making biology easier to engineer, and I have full confidence in Steve and the finance team to continue driving the Company's financial vision forward." "Mark has built a high-performing finance organization and laid the groundwork for Ginkgo to continue driving toward our cost reduction targets and our goal of reaching Adjusted EBITDA breakeven by the end of 2026," said Mr. Coen. "I've greatly enjoyed working with Mark over the past two years and am ready to build upon the financial vision and strategy he has laid out." Mr. Coen earned a B.S. in Accounting and an A.S. in Management from Bentley University and is a Certified Public Accountant in Massachusetts. About Ginkgo Bioworks Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo Biosecurity is building and deploying the next-generation infrastructure and technologies that global leaders need to predict, detect, and respond to a wide variety of biological threats. For more information, visit and read our blog, or follow us on social media channels such as X (@Ginkgo and @Ginkgo_Biosec), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks), or LinkedIn. GINKGO BIOWORKS INVESTOR CONTACT:investors@ GINKGO BIOWORKS MEDIA CONTACT:press@ Forward-Looking Statements of Ginkgo BioworksThis press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the transition of our chief financial officer and the timing for attaining Adjusted EBITDA breakeven. These forward-looking statements generally are identified by the words "believe," "can," "project," "potential," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to realize near-term and long-term cost savings associated with our site consolidation plans, including the ability to terminate leases or find sub-lease tenants for unused facilities, (ii) volatility in the price of Ginkgo's securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo operates and plans to operate, variations in performance across competitors, and changes in laws and regulations affecting Ginkgo's business, (iii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, including with respect to our solutions and tools offerings, (iv) the risk of downturns in demand for products using synthetic biology, (v) the uncertainty regarding the demand for passive monitoring programs and biosecurity services, (vi) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vii) the outcome of any pending or potential legal proceedings against Ginkgo, (viii) our ability to realize the expected benefits from and the success of our Foundry platform programs and Codebase assets, (ix) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, (x) the product development, production or manufacturing success of our customers, (xi) our exposure to the volatility and liquidity risks inherent in holding equity interests in other operating companies and other non-cash consideration we may receive for our services, (xii) the potential negative impact on our business of our restructuring or the failure to realize the anticipated savings associated therewith, (xiii) the uncertainty regarding government budgetary priorities and funding allocated to government agencies and (xiv) challenges and uncertainties related to management transitions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Ginkgo's annual report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on February 25, 2025 and other documents filed by Ginkgo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Ginkgo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ginkgo does not give any assurance that it will achieve its expectations. View original content to download multimedia: SOURCE Ginkgo Bioworks Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
