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  "documentTitle": "Ginkgo Bioworks (DNA)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2021-10-06 00:00:00",
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  "notes": "The slide uses a red circle and arrow to highlight the omission of related-party data in the company's press release.",
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      "text": "1H total revenue growth of 180%, Foundry revenue +41% - no mention of related party contribution or cash flows",
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      "text": "First half 2021 Total Revenue of $88 million, up from $31 million in the comparable prior year period, an increase of 180%. First half 2021 Foundry Revenue of $44 million, up from $31 million in the comparable prior year period, an increase of 41%.",
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      "text": "revenue growth: 180%",
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      "text": "Ginkgo is making aggressive moves to expand the scale of its related-party business model, announcing a flood of new entities simultaneous with its public listing. The timing is not a coincidence. We think round-tripping is about to explode into overdrive...",
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      "text": "Source: Ginkgo press release https://investors.ginkgobioworks.com/news/news-details/2021/Ginkgo-Bioworks-Provides-First-Half-2021-Update-8-18-2021/default.aspx",
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      "text": "Ginkgo Bioworks Provides First Half 2021 Update",
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