Investments and Equity Method Investments (Tables)

6 Months Ended

Jun. 30, 2025

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Investments and Equity Method Investments

Investments consisted of the following (in thousands):


	As of June 30, 2025		As of December 31, 2024
SAFEs	$	16,689	$	16,689
Non-marketable equity securities	13,838		14,218
Marketable equity securities	1,919		17,559
Synlogic warrants	216		238
Total	$	32,662	$	48,704

The carrying value of non-marketable equity securities accounted for using the fair value measurement alternative and still held as of June 30, 2025, including cumulative unrealized losses, were as follows (in thousands):


	As of June 30, 2025
Total initial cost	$	109,460
Impairment charges	(77,305)
Downward adjustments from observable price changes	(1,628)
Carrying value	$	30,527

Gain (Loss) on Securities

The components of loss on investments for each period were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Impairment charges	$	—	$	(4,900)	$	(1,844)	$	(10,112)
Unrealized gains (losses) recognized on marketable equity securities and warrants	(229)		(1,926)		(2,078)		742
Total loss on investments	$	(229)	$	(6,826)	$	(3,922)	$	(9,370)

Ginkgo Bioworks Holdings, Inc. 10-Q