2024-05-09 22:18:10 ET
Ginkgo Bioworks Holdings, Inc. (DNA)
Q1 2024 Earnings Conference Call
May 09, 2024 05:30 PM ET
Company Participants
Megan LeDuc – Manager-Investor Relations
Jason Kelly - Co-Founder & Chief Executive Officer
Mark Dmytruk - Chief Financial Officer
Conference Call Participants
Rahul Sarugaser - Raymond James
Matt Sykes - Goldman Sachs
Mike Ryskin - Bank of America
Steve Mah - TD Cowen
Presentation
Megan LeDuc
Good evening, I’m Megan LeDuc, Manager of Investor Relations at Ginkgo Bioworks. I’m joined by Jason Kelly, our Co-Founder and CEO; and Mark Dmytruk, our CFO. Thanks as always for joining us, we’re looking forward to updating you on our progress. As a reminder, during the presentation today, we will be making forward-looking statements, which involve risks and uncertainties.
Today, in addition to updating you on the quarter, we’re going to provide more detail into our drive towards adjusted EBITDA breakeven, and the necessary steps we’re talking to get there.
As usual, we’ll end with a Q&A session, and I’ll take questions from analysts, investors and the public. You can submit those questions to us in advance via X at #GinkgoResults or email investors@ginkgobioworks.com.
All right. Over to you, Jason.
Jason Kelly
Thanks, everyone for joining us. We always start with our mission of making biology easier to engineer, and that's especially critical today. Ginkgo's a founder-led company and myself and the other founders have been pouring our lives into this company for the past 15 years, and many of our senior leaders for more than a decade.
The advantage of this is we're very motivated to see the most out of Ginkgo. We've invested a ton of our lives in it. And as a consequence, we want to see the most out of the investment of your capital in Ginkgo as well.
So today, we're going to be announcing major changes to how we do our work at Ginkgo. These are going to be difficult for many on the team, and I want to say that upfront, it's going to involve substantial headcount reductions, alongside important changes to improve our operations.
The mission of what we're doing matters at Ginkgo to everyone at the company. And you will see us collectively take difficult, but decisive action when needed to ensure we deliver on it and today is one of those days....
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Ginkgo Bioworks Holdings, Inc. (DNA) Q1 2024 Earnings Call Transcript