Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock-based Compensation

The following table summarizes stock-based compensation expense by financial statement line item in the Company’s consolidated statements of operations and comprehensive loss for the periods presented (in thousands):

	Year Ended December 31,
	2023		2022		2021
Research and development	$	145,879	$	731,996	$	926,730
General and administrative	84,005		1,198,645		755,835
Total	$	229,884	$	1,930,641	$	1,682,565

Summary of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2023 is presented below:

	Number of Shares (1)	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (2)
	(in thousands)			(in years)	(in thousands)
Outstanding as of December 31, 2022	10,501	$	0.34
Granted	979	1.90
Exercised	(5,431)	0.02
Outstanding as of December 31, 2023	6,049	0.89		3.24	$	6,810
Exercisable as of December 31, 2023	4,928	0.60		1.85	6,810

(1)Excludes 1.7 million shares underlying options issued outside the accounting for compensation awards under ASC 718.

(2)The aggregate intrinsic value is calculated as the difference between the Company's closing stock price on the last trading day of the year and the exercise prices, multiplied by the number of in-the-money stock options.

Schedule of Assumptions Used to Estimate Fair Value of Stock Option Awards Granted

The weighted-average fair value of options granted during the years ended December 31, 2023, 2022, and 2021 was $1.43, $1.92 and $8.97 per share, respectively, and was calculated using the following key inputs in the Black-Scholes option-pricing model:

	Year Ended December 31,
	2023		2022		2021
Risk-free interest rate	3.94	%	3.13	%	0.11	%
Dividend yield	—	%	—	%	—	%
Expected volatility	93.0	%	76.9	%	88.6	%
Expected term	5.5 years		5.6 years		0.96 years

Summary of RSU and RSA Activity

A summary of the RSU and RSA activity for the year ended December 31, 2023 is presented below:

	Restricted Stock Units			Restricted Stock Awards
	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value
	(in thousands)			(in thousands)
Nonvested as of December 31, 2022	134,437	$	5.84	4	$	1.99
Granted	103,811	1.39		—	—
Vested	(63,878)	5.72		(4)	1.99
Forfeited	(22,202)	3.79		—	—
Nonvested as of December 31, 2023	152,168	3.15		—	1.99

Schedule of Assumptions Used to Estimate Fair Value, Earnout RSUs

The grant date fair value of Earnout RSUs was estimated on the Closing Date and remeasured on the Modification Date using a Monte Carlo simulation model with the following assumptions:

	Year Ended December 31, 2021
Risk-free interest rate	0.84% - 1.21%
Expected volatility	53.1% - 81%
Expected term (in years)	4.83 - 5
Dividend yield	—	%

Summary of Activity For Earnout RSA

A summary of activity during the year ended December 31, 2023 for the Earnout RSUs and the earnout shares underlying Old Ginkgo RSAs ("Earnout RSAs") is presented below:

	Number of Shares	Weighted Average Grant Date Fair Value
	(in thousands)
Nonvested as of December 31, 2022	23,520	$	12.79
Vested	(571)	13.34
Forfeited	(339)	12.44
Nonvested as of December 31, 2023	22,610	12.78