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Ginkgo Bioworks Reports Fourth Quarter and Full Year 2023 Financial Results

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$251 million of Total revenue in 2023

$139 million in Cell Engineering services revenue, representing 31% growth over 2022

78 new Cell Programs added in 2023, representing 32% growth over 2022 and continued penetration in biopharma

Year-end cash balance of nearly $950 million provides meaningful multi-year runway as we drive towards profitability and begin recognizing benefits from improved platform efficiency

BOSTON, Feb. 29, 2024 /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 fourth quarter and year ended December 31, 2023. The update, including a webcast slide presentation and supplemental financial information, will be available at investors.ginkgobioworks.com.

“2023 was a breakout year for Ginkgo,” said Jason Kelly, co-founder and CEO of Ginkgo. “We’re working to build a durable platform that fundamentally transforms R&D in biotech. I’m particularly pleased with our growth in biopharma, which represents our largest untapped market – we added several new programs across modalities with large enterprises including Boehringer Ingelheim, Merck, Novo Nordisk, and Pfizer and are seeing strong momentum in pharma going into 2024. I am also thrilled to see a real ecosystem building around Ginkgo – we’re honored by the trust placed in us by the terrific founders of Patch Biosciences, Reverie Labs, and Proof Diagnostics to bring their technologies to customers and by the over 25 inaugural partners in our newly announced Technology Network. We are committed to bringing the best technologies together to support our customers, and we’ve never been better positioned to deliver.”

Recent Business Highlights & Strategic Positioning

Added 78 new Cell Engineering Programs in 2023, representing 32% growth over the prior year periodGinkgo’s Cell Engineering segment generated services revenue, which does not include downstream value share revenue, of $139 million in 2023, a 31% increase versus 2022Ginkgo’s Biosecurity segment generated $108 million of revenue in 2023 as the Biosecurity business shifted to a more recurring model focused on global reach and multiple pathogens to build a long-term biosecurity global infrastructureGinkgo continues to expand its global bioradar network—now in 14 countries and 10 airports—and advance capabilities for multi-target and multimodal biological threat detection, characterization, and forecasting for next-generation biological intelligenceGinkgo is partnering with the Qatar Free Zones Authority (QFZ) and Doha Venture Capital (DVC) to build a Center for Unified Biosecurity Excellence in Doha (CUBE-D), envisioned as the first of several hubs for biosecurity sample and data analysis in our global networkGinkgo is partnering with Illumina, a global leader in DNA sequencing and array-based technologies, to advance localized biosecurity capabilities in countries around the worldDownstream value share – which consists of potential value to Ginkgo from its Cell Engineering customers and includes potential royalties, milestone payments, and equity interests – is an important component of the financial potential of most programs. As of December 31, 2023 Ginkgo has approximately $2.4 billion in aggregate revenue potential from downstream milestone payments alone in addition to royalties.Ginkgo recently announced the launch of its Technology Network of over 25 companies, creating a more integrated approach to biotech R&D. Ginkgo has a long history of integrating diverse technologies to deliver on customers’ complex program goals and believes that customers should not have to choose a technical approach prematurely but should be able to test many approaches in an unbiased way. Ginkgo customers will be able to benefit from the integration of technologies from network partners in their programs, and Ginkgo expects to expand the network based on customer needs and feedback.Ginkgo also announced several acquisitions including Patch Biosciences, Proof Diagnostics and Reverie Labs. These acquisitions are expected to expand Ginkgo’s capabilities in AI and biopharma.

Fourth Quarter 2023 Financial Highlights

Fourth quarter 2023 Total revenue of $35 million, down from $98 million in the comparable prior year period, a decrease of 65% primarily driven by the expected ramp down of K-12 testing in Ginkgo’s Biosecurity segment and the impact of Cell Engineering downstream value share from equity milestones in 2022 that did not recur in 2023Fourth quarter 2023 Cell Engineering services revenue, which does not include downstream value share revenue, of $27 million, down 26% from $36 million in the comparable prior year period. There was no material downstream value share revenue received in the fourth quarter of 2023.Fourth quarter 2023 Biosecurity revenue of $8 million with gross profit margin of 15% is reflective of the early stages of transitioning to a more recurring business modelFourth quarter 2023 Loss from operations of $(178) million (inclusive of stock-based compensation expense of $44 million), compared to Loss from operations of $(231) million in the comparable prior year period (inclusive of stock-based compensation expense of $111 million). Just under half of the stock-based compensation expense relates to the continued GAAP accounting for the modification of restricted stock units issued prior to Ginkgo becoming a public company, as disclosed in our annual report on Form 10-K filed with the SEC on March 13, 2023, and which we expect to continue to ramp down significantly in the coming quarters.Fourth quarter 2023 Adjusted EBITDA of $(96) million, down from $(76) million in the comparable prior year period driven by the decline in Total revenue partially offset by a decline in operating expensesCash and cash equivalents balance as of the end of the fourth quarter of $944 million puts Ginkgo in a strong financial position to pursue its strategic objectives

Full Year 2023 Financial Highlights

Full year 2023 Total revenue of $251 million, down from $478 million in the prior year, a decrease of 47% as Biosecurity revenue transitioned from K-12 testing to a more recurring business modelFull year 2023 Cell Engineering revenue of $144 million remained stable over the prior year, representing 31% growth in services revenue offset by a decrease in downstream value share from equity milestonesFull year 2023 Biosecurity revenue of $108 million, down from $334 million in the prior year, a decrease of 68%, with full year 2023 Biosecurity gross profit margin of 50%Full year 2023 Loss from operations of $(864) million (inclusive of stock-based compensation expense of $235 million), compared to $(2.2) billion (inclusive of stock-based compensation expense of $1.9 billion) in the prior yearFull year 2023 Adjusted EBITDA of $(355) million, down from $(173) million in the prior year

Full Year 2024 Guidance

Ginkgo expects to add 100-120 new Cell Programs to the Cell Engineering platform in 2024Ginkgo expects Total revenue of $215$235 million in 2024Ginkgo expects Cell Engineering services revenue of $165-185 million in 2024 driven by expected growth in biopharma and government programs. This guidance excludes the impact of any potential downstream value share revenue.Ginkgo expects Biosecurity revenue in 2024 of at least $50 million, representing approximate current contracted backlog, with potential upside from additional opportunities in the pipeline

Conference Call Details
Ginkgo will host a videoconference today, Thursday, February 29, 2024, beginning at 5:30 p.m. ET. The presentation will include an overview of the fourth quarter and full year financial performance, 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@ginkgobioworks.com.

A webcast link is available on Ginkgo’s Investor Relations website and a replay will be made available following the presentation.

Ginkgo Investor Website: https://investors.ginkgobioworks.com/events/

Audio-Only Dial Ins:
+1 646 876 9923 (New York)
+1 301 715 8592 (Washington DC)
+1 312 626 6799 (Chicago)
+1 669 900 6833 (San Jose)
+1 253 215 8782 (Tacoma)
+1 346 248 7799 (Houston)
+1 408 638 0968 (San Jose)

Webinar ID: 928 9136 7332

If you experience technical difficulties with any of these dial-ins or if you need international dial-in numbers, please visit our web site at https://investors.ginkgobioworks.com/events/ for updated dial-in information.

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’s biosecurity and public health unit, Concentric by Ginkgo, is building global infrastructure for biosecurity to empower governments, communities, and public health leaders to prevent, detect and respond to a wide variety of biological threats. For more information, visit ginkgobioworks.com and concentricbyginkgo.com, read our blog, or follow us on social media channels such as X (@Ginkgo and @ConcentricByGBW), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks) or LinkedIn.

Forward-Looking Statements of Ginkgo Bioworks
This 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, strategies, including with respect to our balance sheet and cash runway, acquisitions, current expectations, operations and anticipated results of operations, both business and financial, including opportunities for increased operational efficiency, our manufacturing capabilities, potential customer success, including successful application of our offerings by our customers, the capabilities and potential operational and financial success of our acquisitions, partnerships and collaborations, and expected timing thereof, expectations with regard to revenue, the nature of such revenue and any related downstream value share associated with such revenue, funding that is contingent upon Ginkgo’s achievement of milestones, expenses, including our stock-based compensation expenses, our full year 2024 outlook, the future security and commercial applications of the BIOINT industry, the expansion, timing and potential capabilities of our bioradar network and the national biodefense strategy, plans to develop and deploy AI tools for biology and biosecurity for both internal use and external release, including the expected timing thereof, 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) 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, (ii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, (iii) the risk of downturns in demand for products using synthetic biology, (iv) the uncertainty regarding the demand for passive monitoring programs and biosecurity services, (v) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vi) the outcome of any pending or potential legal proceedings against Ginkgo, (vii) our ability to realize the expected benefits from and the success of our Foundry platform programs, (viii) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, and (ix) the product development or commercialization success of our customers. 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 most recent quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the “SEC”), 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. 

Use of Non-GAAP Financial Measures
Certain 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@ginkgobioworks.com 

MEDIA CONTACT:
press@ginkgobioworks.com 

 

Ginkgo Bioworks Holdings, Inc.

Condensed Consolidated Balance Sheets

(in thousands, except per share data, unaudited)

As of December 31,

2023

2022

Assets

Current assets:

Cash and cash equivalents

$       944,073

$    1,315,792

Accounts receivable, net

17,157

80,907

Accounts receivable – related parties

742

1,558

Prepaid expenses and other current assets

39,777

51,822

Total current assets

1,001,749

1,450,079

Property, plant and equipment, net

188,193

314,773

Operating lease right-of-use assets

206,801

400,762

Investments

78,565

112,188

Equity method investments

1,543

Intangible assets, net

82,741

111,041

Goodwill

49,238

60,210

Other non-current assets

58,055

88,725

Total assets

$    1,665,342

$    2,539,321

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$           9,323

$         10,451

Deferred revenue

44,486

47,817

Accrued expenses and other current liabilities

110,051

114,694

Total current liabilities

163,860

172,962

Non-current liabilities:

Deferred revenue, net of current portion

158,062

174,767

Operating lease liabilities, non-current

221,835

413,256

Warrant liabilities

5,700

10,868

Other non-current liabilities

18,733

31,191

Total liabilities

568,190

803,044

Stockholders’ equity:

Preferred stock, $0.0001 par value; 200,000 shares authorized; none issued

Common stock, $0.0001 par value

199

190

Additional paid-in capital

6,385,997

6,136,378

Accumulated deficit

(5,290,528)

(4,397,659)

Accumulated other comprehensive income (loss)

1,484

(2,632)

Total stockholders’ equity

1,097,152

1,736,277

Total liabilities and stockholders’ equity

$    1,665,342

$    2,539,321

 

Ginkgo Bioworks Holdings, Inc.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except per share data, unaudited)

Three Months Ended December 31,

Year Ended December 31,

2023

2022

2023

2022

Cell Engineering revenue

$          26,976

$          53,257

$         143,531

$         143,666

Biosecurity revenue:

Product

12,431

28,949

35,455

Service

7,779

32,597

78,975

298,585

Total revenue

34,755

98,285

251,455

477,706

Costs and operating expenses:

Cost of Biosecurity product revenue

7,447

7,481

20,646

Cost of Biosecurity service revenue

6,611

22,771

46,524

183,570

Research and development

117,038

177,548

580,621

1,052,643

General and administrative

89,223

121,383

385,025

1,429,799

Impairment of lease assets

96,210

Total operating expenses

212,872

329,149

1,115,861

2,686,658

Loss from operations

(178,117)

(230,864)

(864,406)

(2,208,952)

Other income (expense):

Interest income

13,303

11,441

57,217

20,262

Interest expense

(93)

(106)

(93)

(106)

Loss on equity method investments

(1,119)

10,003

(2,635)

(43,761)

Loss on investments

(10,012)

(13,354)

(54,827)

(53,335)

Change in fair value of warrant liabilities

6,555

28,871

5,168

124,970

(Loss) gain on deconsolidation of subsidiaries

(42,502)

(42,502)

31,889

Other income (expense), net

93

6,161

9,138

7,634

Total other income (expense), net

(33,775)

43,016

(28,534)

87,553

Loss before income taxes

(211,892)

(187,848)

(892,940)

(2,121,399)

Income tax benefit

(198)

(14,770)

(71)

(15,027)

Net loss

(211,694)

(173,078)

(892,869)

(2,106,372)

Loss attributable to non-controlling interest

2,390

(1,443)

Net loss attributable to Ginkgo Bioworks Holdings, Inc. stockholders

$      (211,694)

$      (175,468)

$       (892,869)

$   (2,104,929)

Net loss per share attributable to Ginkgo Bioworks Holdings, Inc.

common stockholders:

Basic

$            (0.11)

$            (0.09)

$             (0.46)

$             (1.25)

Diluted

$            (0.11)

$            (0.10)

$             (0.46)

$             (1.25)

Weighted average common shares outstanding:

Basic

1,977,708

1,854,952

1,944,420

1,679,061

Diluted

1,978,843

1,856,610

1,944,420

1,679,839

Comprehensive loss:

Net loss

$      (211,694)

$      (173,078)

$       (892,869)

$   (2,106,372)

Other comprehensive loss:

Foreign currency translation adjustment

4,383

5,278

4,116

(917)

Total other comprehensive gain (loss)

4,383

5,278

4,116

(917)

Comprehensive loss

$      (207,311)

$      (167,800)

$       (888,753)

$   (2,107,289)

(1)

R&D and G&A expenses included a significant charge for stock-based compensation expense as a result of the modification of the vesting terms of RSUs and related earnout shares. Total stock-based compensation expense, inclusive of employer payroll taxes, was allocated as follows (in thousands):

 

Three Months Ended December 31,

Year Ended December 31,

(in thousands)

2023

2022

2023

2022

Research and development

$         26,775

$         68,171

$        148,861

$          738,821

General and administrative

16,809

43,059

86,047

1,202,099

Total

$         43,584

$       111,230

$        234,908

$       1,940,920

 

Ginkgo Bioworks Holdings, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands, unaudited)

Year Ended December 31,

2023

2022

Cash flows from operating activities:

Net loss

$       (892,869)

$    (2,106,372)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

70,507

42,552

Stock-based compensation

229,884

1,930,641

Non-cash customer consideration

(1,373)

(34,263)

Loss on equity method investments

2,635

43,761

Loss on investments

54,827

53,335

Change in fair value of notes receivable

2,416

(3,757)

Change in fair value of warrant liabilities

(5,168)

(124,970)

Change in fair value of contingent consideration liability

9,168

(1,262)

Loss (gain) on deconsolidation of subsidiaries

42,502

(31,889)

Impairment of long-lived assets

121,404

Deferred income tax benefit

(801)

(14,609)

Loss on disposal of equipment

842

3,091

Non-cash lease expense

28,313

19,082

Non-cash in-process research and development

9,182

1,162

Amortization of finance lease right-of-use assets

1,047

1,871

Non-cash severance and retention bonus expense associated with an acquisition

6,152

Other non-cash activity

2,147

283

Changes in operating assets and liabilities:

Accounts receivable

50,068

55,024

Prepaid expenses and other current assets

10,473

(8,523)

Operating lease right-of-use assets

9,275

13,233

Other non-current assets

2,570

921

Accounts payable

(1,183)

(10,844)

Accrued expenses and other current liabilities

16,899

(39,639)

Deferred revenue, current and non-current

(35,917)

(36,417)

Operating lease liabilities, current and non-current

(22,800)

(10,792)

Other non-current liabilities

452

31

Net cash used in operating activities

(295,500)

(252,198)

Cash flows from investing activities:

Purchases of property and equipment

(40,801)

(52,271)

Deconsolidation of subsidiaries – cash

(42,980)

(55,721)

Business acquisitions, net of cash acquired

82,367

Asset acquisitions, net of cash acquired

(7,639)

Purchases of notes receivable

(350)

(40,000)

Proceeds from notes receivable

10,000

Purchase of investment in equity securities

(3,691)

Proceeds from sale of equipment

4,428

Other

(990)

(439)

Net cash used in investing activities

(80,693)

(67,394)

Cash flows from financing activities:

Proceeds from exercise of stock options

93

240

Taxes paid related to net share settlement of equity awards

(23)

(981)

Principal payments on finance/capital leases and lease financing obligation

(1,295)

(1,237)

Proceeds from public offering, net of issuance costs

99,303

Contingent consideration payment

(1,411)

(521)

Payment of equity issuance costs

(580)

(1,467)

Net cash (used in) provided by financing activities

(3,216)

95,337

Effect of foreign exchange rates on cash and cash equivalents

(588)

908

Net decrease in cash, cash equivalents and restricted cash

(379,997)

(223,347)

Cash and cash equivalents, beginning of period

1,315,792

1,550,004

Restricted cash, beginning of period

53,789

42,924

Cash, cash equivalents and restricted cash, beginning of period

1,369,581

1,592,928

Cash and cash equivalents, end of period

944,073

1,315,792

Restricted cash, end of period

45,511

53,789

Cash, cash equivalents and restricted cash, end of period

$         989,584

$      1,369,581

 

Ginkgo Bioworks Holdings, Inc.

Selected Non-GAAP Financial Measures

(in thousands, unaudited)

Three Months Ended December 31,

Year Ended December 31,

(in thousands)

2023

2022

2023

2022

Net loss attributable to Ginkgo Bioworks Holdings, Inc. stockholders

$      (211,694)

$      (175,468)

$       (892,869)

$    (2,104,929)

Interest income

(13,226)

(11,412)

(57,217)

(20,262)

Interest expense

15

77

93

106

Income tax benefit

(198)

(14,770)

(71)

(15,027)

Depreciation and amortization

12,837

15,667

70,507

42,552

EBITDA

(212,266)

(185,906)

(879,557)

(2,097,560)

Stock-based compensation (1)

43,584

111,230

234,908

1,940,920

Impairment of long-lived assets (2)

121,404

Merger and acquisition related expenses (3)

23,663

26,045

70,771

46,229

Loss on investments

10,012

13,354

54,827

53,335

Loss (gain) on deconsolidation of subsidiaries

42,502

42,502

(31,889)

Loss on equity method investments (4)

1,119

(7,612)

2,635

45,315

Change in fair value of warrant liabilities

(6,555)

(28,871)

(5,168)

(124,970)

Change in fair value of notes receivable

2,174

(3,924)

2,295

(4,153)

Adjusted EBITDA

$        (95,767)

$        (75,684)

$       (355,383)

$       (172,773)

(1)

For the years ended December 31, 2023 and 2022, includes $5.0 million and $10.3 million, respectively, in related employer payroll taxes.

(2)

For the year ended December 31, 2023, includes $25.2 million impairment loss on lab equipment and $96.2 million impairment loss on a right-of-use asset and the related leasehold improvements associated with an exited Zymergen leased facility.

(3)

Represents transaction and integration costs directly related to mergers and acquisitions, including: (i) due diligence, legal, consulting and accounting fees associated with acquisitions, (ii) post-acquisition employee retention bonuses and severance payments, (iii) the fair value adjustments to contingent consideration liabilities resulting from acquisitions, (iv) acquired intangible assets expensed as in-process research and development, and (v) costs associated with the Zymergen Bankruptcy, as well as securities litigation costs, net of insurance recovery.

(4)

Represents losses on equity method investments under the hypothetical liquidation at book value method, net of losses attributable to non-controlling interests.

 

Ginkgo Bioworks Holdings, Inc.

Segment Information

(in thousands, unaudited)

Three Months Ended December 31,

Year Ended December 31,

2023

2022

2023

2022

Revenue:

Cell Engineering

$            26,976

$         53,257

$       143,531

$       143,666

Biosecurity

7,779

45,028

107,924

334,040

Total revenue

34,755

98,285

251,455

477,706

Segment cost of revenue:

Biosecurity

6,611

30,218

54,005

204,216

Segment research and development expense:

Cell Engineering

77,999

95,408

353,493

273,356

Biosecurity

191

590

1,599

1,937

Total segment research and development expense

78,190

95,998

355,092

275,293

Segment general and administrative expense:

Cell Engineering

60,047

63,686

215,263

168,586

Biosecurity

12,652

13,670

55,514

56,353

Total segment general and administrative expense

72,699

77,356

270,777

224,939

Segment operating (loss) income:

Cell Engineering

(111,070)

(105,837)

(425,225)

(298,276)

Biosecurity

(11,675)

550

(3,194)

71,534

Total segment operating loss

(122,745)

(105,287)

(428,419)

(226,742)

Operating expenses not allocated to segments:

Stock-based compensation (1)

43,584

111,230

234,908

1,940,920

Impairment of long-lived assets

121,404

Depreciation and amortization

12,837

15,667

70,507

42,552

Change in fair value of contingent consideration liability

(1,049)

(1,320)

9,168

(1,262)

Loss from operations

$        (178,117)

$     (230,864)

$     (864,406)

$  (2,208,952)

(1)

Includes $5.0 million and $10.3 million in related employer payroll taxes for the years ended December 31, 2023 and 2022, respectively.

 

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SOURCE Ginkgo Bioworks

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The festive season is upon us, and MagFone is here to make your holidays even brighter with an exclusive Christmas & New Year sale! From incredible discounts on best-selling products to special deals on new products, MagFone is the ultimate destination for holiday shopping. From December 18, 2024 to January 6, 2025, this sale offers up to 80% off discount for everyone. Let’s dive into the details of the most awaited sale of the year.

HONGKONG, Dec. 21, 2024 /PRNewswire-PRWeb/ — What Can You Get from MagFone Christmas & New Year Sale?

New arrival – Location Changer is only $1.99 to everyone in this MagFone Christmas & New Year Grand sales. Moreover, everyone can enjoy up to 80% OFF.

1. Best-Selling Products at Up to 70% OFF

Resolving various iOS system issues or unlocking locked Apple devices like iPhone and iPad by yourself at home with MagFone’s flagship products, now available at unbeatable prices. Best-selling products such as iPhone Unlocker, Activation Unlocker, and iOS System Recovery are up for grabs with discounts of up to 70% off. Don’t miss out on this chance to get MagFone’s best-selling products at jaw-dropping prices.

MagFone iPhone Unlocker at $20.95/month and $41.95/lifetime.MagFone Activation Unlocker at $20.95/month and $41.95/lifetime.MagFone iOS System Recovery at $17.95/month and $48.95/lifetime.

2. New Arrival to Get with Only $1.99

Whether you want to change your location on your mobile device or simulate GPS movement in various games, MagFone’s new product – Location Changer – is perfect for you. Designed for both iOS and Android users, this tool comes equipped with advanced location changing features, flexible movement speed, and customizable route. With only $1.99, it is a must-have for this Christmas sale if you have the demand to change your device location.

3. 4-in-1 Bundle to Maximize Your Savings

MagFone values all loyal customers and offers exclusive pers during the Christmas & New Year sale. A super 4-in-in bundle is at reduced prices, which enables you to get all products from MagFone with an 80% off discount. This bundle includes all the tools you need, whether you’re looking to resolve various system problems and unlocking issues or change iPhone and Android device’s location. Don’t miss this chance to get all MagFone products at unbeatable prices.

MagFone Christmas & New Year Sale is a limited-time event, running from December 18, 2024 to January 6, 2025. With discount this good, products are expected to get at the lowest price this year. Don’t wait until the last minute—start shopping now to get MagFone products at the best deals.

About MagFone:

MagFone is redefining tech innovation with state-of-the-art technology and intuitive design. Whether their flagship products like iPhone Unlocker or newly-released tools like Location Changer, MagFone products are built for performance and flexibility.

YouTube: https://www.youtube.com/@magfone

Facebook: https://www.facebook.com/magfone/

X: https://x.com/magfone

Media Contact

Olivia Wood, MagFone, 86 19186985874, support@magfone.com, https://www.magfone.com/

View original content to download multimedia:https://www.prweb.com/releases/magfone-christmas–new-year-sale-unbeatable-discounts-for-the-holiday-season-302337015.html

SOURCE MagFone

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Dr. Ashley Milhizer Sees 300% Growth in 2024 at Real Results Medical & Aesthetics

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After nearly two years in business, Dr. Ashley Milhizer’s Tempe-based center for naturopathic medicine and aesthetics has experienced the type of growth that rival industry titans. Real Results Medical & Aesthetics – soon to be opening a second location in Scottsdale in early 2025 – has seen an impressive 300% growth since opening their doors in March 2023.

TEMPE, Ariz., Dec. 21, 2024 /PRNewswire-PRWeb/ — After nearly two years in business, Dr. Ashley Milhizer’s Tempe-based center for naturopathic medicine and aesthetics has experienced the type of growth that rival industry titans. Real Results Medical & Aesthetics – soon to be opening a second location in Scottsdale in early 2025 – has seen an impressive 300% growth since opening their doors in March 2023.

Aside from patient referrals and cutting-edge technology, Milhizer credits social media as one of the biggest avenues for growth. “Between TikTok and Instagram we’ve amassed over 25,000 followers and that accounts for about 70% of our new business.”

Aside from patient referrals and cutting-edge technology, Milhizer credits social media as one of the biggest avenues for growth. “Between TikTok and Instagram we’ve amassed over 25,000 followers and that accounts for about 70% of our new business,” said Dr. Ashley Milhizer, Founder of Real Results Medical & Aesthetics.

On both platforms, Dr. Milhizer shares educational videos and insights into various medical & aesthetic procedures. Her engaging content not only highlights the quality of care she provides but also educates her audience on the latest trends and treatments in the field.

Originally from Michigan, and a graduate of UC Davis and the Southwest College of Naturopathic Medicine & Health Sciences, it was Dr. Milhizer’s personal experience in seeing how natural remedies can significantly impact the body that inspired her to get into the field.

“While I was in school, a friend of mine was diagnosed with stage 3 cancer and was given up to 18 months to live and I became determined to research every kind of remedy that could potentially help,” said Dr. Milhizer. “From a healthy diet, supplements and a host of other naturopathic strategies, we tried everything we could find and two months later he was in remission, and he’s still alive today.”

The power of naturopathic remedies, following an early career path in sports medicine – which enabled her to work with some of the state’s top professional athletes – is what led her to forming Real Results Medical & Aesthetics. The company’s broad depth of services is also what allowed her to expand her reach of clientele beyond athletes to everyone from the Valley’s elite CEOs and stay at home Moms to patients ranging from their early 20s to upper 80s.

The naturopathic services offered at Real Results Medical & Aesthetics include hormone optimization, peptide therapy, IV therapy, natural pain relief, weight loss, food allergy testing and overall diagnostic testing. While the aesthetics side of the business offers services such as hair restoration, skin resurfacing, botox, fillers, microneedling, RF Plasma skin resurfacing, laser treatments, vein removal and body contouring.

For more information on Real Results Medical & Aesthetics, visit www.realresultsmedical.com or call/text 480.245.5636. For ongoing news, updates and service offerings, follow Dr. Milhizer on Facebook, Instagram and LinkedIn.

Media Contact

Kendra Riley, Real Results Medical & Aesthetics, 1 4802206051, kendra@dawningpr.com 

View original content to download multimedia:https://www.prweb.com/releases/dr-ashley-milhizer-sees-300-growth-in-2024-at-real-results-medical–aesthetics-302337009.html

SOURCE Real Results Medical & Aesthetics

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ICEYE expands its Earth Observation capabilities with launch of two SAR satellites for mid-inclination orbit on the Bandwagon-2 mission with SpaceX

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Mid-inclination orbit provides more SAR-imaging opportunities at middle latitudes of the globe for ICEYE customers.

HELSINKI, Finland, Dec. 21, 2024 /PRNewswire/ — ICEYE, the global leader in SAR satellite operations for Earth Observation and persistent monitoring, announced today that it has launched two new satellites to its constellation of SAR satellites. Both satellites expand the availability of ICEYE’s latest imaging technology to deliver additional 25 cm imaging capacity. The satellites were integrated via Exolaunch and launched as part of the Bandwagon-2 rideshare mission with SpaceX from Vandenberg Space Force Base in California, USA. Both satellites have established communication, and early routine operations are underway. With today’s launch, ICEYE has successfully launched 40 satellites into orbit since 2018, with nine satellites launched in 2024 alone.

The new SAR satellites were launched into mid-inclination orbits; compared to a polar orbit, these mid-inclination orbits provide more than twice the collection opportunities at middle latitudes of the globe. ICEYE customers have many areas of interest in these middle latitudes (+/- 45 degrees), and these customers will benefit from increased persistence over these regions. Customers with imaging interests outside these middle latitudes will continue to benefit from the frequent revisit enabled by ICEYE’s dozens of satellites in polar orbits. ICEYE’s unique mix of mid-inclination and polar orbits provides its customers with deep revisit capabilities for targets all around the globe. The new satellites will serve ICEYE’s commercial missions as part of the world’s largest SAR satellite constellation owned and operated by ICEYE.

Rafal Modrzewski, CEO and Co-founder of ICEYE said: “This launch marks another significant milestone in ICEYE’s ability to provide our customers with a rich diversity of collection opportunities. We bolster our industry-leading SAR constellation and expand our customers’ collection opportunities in the areas most important to them.”

Today’s launch is another step forward in ICEYE’s steady drumbeat of innovative breakthroughs in Earth Observation. This year alone, ICEYE has, for example, introduced Dwell Precise, a new 25 cm imaging mode that offers its customers the highest-fidelity 25cm imaging capability, and adds advanced capability to ICEYE’s line of Dwell products; launched an API that allows customers to directly task its SAR satellite constellation; and launched ICEYE Ocean Vision to provide actionable intelligence for maritime domain awareness.

About ICEYE

ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before.

Owning the world’s largest synthetic aperture radar (SAR) satellite constellation, ICEYE provides objective, near real-time insights, ensuring that customers have unmatched access to actionable high-quality data, day or night, even in challenging environmental conditions. As a trusted partner to governments and commercial industries, ICEYE delivers intelligence in sectors such as insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance, enabling decision-making that contributes to community resilience and sustainable development.

ICEYE operates internationally with offices in Finland, Poland, Spain, the UK, Australia, Japan, UAE, Greece, and the US.  We have more than 700 employees, inspired by the shared vision of improving life on Earth by becoming the global source of truth in Earth Observation.

Media contact: press@iceye.com

Visit www.iceye.com and follow ICEYE on LinkedIn and X for the latest updates and insights.

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SOURCE ICEYE

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