Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Q3 2022 Earnings Conference Call November 14, 2022 4:30 PM ET

Company Participants

Anna Marie Wagner - Senior Vice President-Corporate Development

Jason Kelly - Co-Founder and Chief Executive Officer

Mark Dmytruk - Chief Financial Officer

Conference Call Participants

Tejas Savant - Morgan Stanley

Rahul Sarugaser - Raymond James

Matt Sykes - Goldman Sachs

Steve Mah - Cowen

Mark Massaro - BTIG

Anna Marie Wagner

Good afternoon. This is Anna Marie Wagner, SVP of Corporate Development at Ginkgo Bioworks. As usual, I'm joined by Jason Kelly, our Co-Founder and CEO; and Mark Dmytruk, our CFO. We thank you for joining us, and look forward to providing you with an update on the last quarter.

As a reminder, during the presentation today, we'll be making forward-looking statements, which involve risks and uncertainties. Please refer to our filings with the Securities and Exchange Commission to learn more about these risks and uncertainties. As usual we'll follow our standard agenda for these calls, providing an update on our financial progress, while also taking time to dig deeper on our strategic priorities. We’ll end with a Q&A session and I’ll take questions from analysts, investors, and the public. You can submit those questions as usual to us in advance on Twitter, #GinkgoResults or e-mail at investors@ginkgobioworks.com.

All right, over to you Jason.

Jason Kelly

Thanks, Anna Marie. So, we always start with this slide because our mission drives much of our long-term strategy and even many of the day-to-day decisions in the company. So, very simply we want to make biology easier to engineer at Ginkgo and we do that by scaling our platform for programming cells. So, what does that look like, right. So, we work with our customers to define what they want to develop. In other words, the spec for the cell they want to engineer. And this is a key idea.

We are operating our platform as a B2B service to enable our customers to develop end-products for consumers, right. And so our platform consists of two assets, our foundry and our code base. Our foundry is an automated lab. The key idea here is, we're able to turn what is typically an underutilized fixed cost investment for most companies, in other words, the sort of physical R&D labs that our customers might have in their facilities into what's now for the customer a variable cost available to them as a service. And that attribute is particularly attractive to our customers in a more challenging economic backdrop, especially small companies might not even need to build these facilities in the first place. And so, being able to turn that on and off R&D spending is a benefit.