Ginkgo Bioworks Holdings, Inc. reported a net loss of $(312.8) million for the fiscal year ended December 31, 2025, an improvement from $(547.0) million in 2024. Total revenue decreased to $170.2 million in 2025 from $227.0 million in 2024. Cell Engineering revenue declined by $41.2 million to $132.7 million in 2025, primarily due to lower non-cash revenue from terminated contracts. Biosecurity revenue decreased by $15.7 million to $37.4 million in 2025, mainly due to reduced programs with the U.S. and a foreign government. Research and development (R&D) expenses decreased by $180.3 million to $243.8 million in 2025, largely due to workforce reductions and rationalization of development programs. General and administrative (G&A) expenses decreased by $62.9 million to $183.3 million in 2025, also driven by restructuring efforts. The company completed the majority of its workforce reductions in 2025 as part of a restructuring plan commenced in Q2 2024. A material weakness in internal controls over financial reporting identified in 2023 was remediated as of December 31, 2024. Ginkgo entered into a definitive agreement to sell substantially all of its Biosecurity segment operations to Tower Biosecurity Holdings, Inc. in exchange for approximately 20% equity interest, with closing expected in H1 2026. Cash and cash equivalents decreased significantly to $167.2 million in 2025 from $561.6 million in 2024. The company issued 1.9 million shares of Class A common stock through an at-the-market (ATM) offering, generating net proceeds of $18.1 million since September 4, 2025.