Ginkgo Bioworks Q1 revenue falls 50%, misses estimates; shifts focus to autonomous labs amid cash burn concerns

Ginkgo Bioworks reported first-quarter revenues of $19.5 million, nearly 50% lower than the previous year and significantly below analyst expectations. The company is shifting its strategy towards developing autonomous laboratories but has not provided revenue guidance, leading to further downward revisions in analyst forecasts. Despite having $373 million in cash and no debt, Ginkgo continues to burn cash heavily, with a $49 million cash burn in Q1 and projected cash burn of $125 million to $150 million for 2026, raising concerns about its financial flexibility going forward.