Teknova Reports Second Quarter 2026 Financial Results

Overview News & Events Financials Stock Corporate Governance Resources Second quarter 2026 total revenue was $12.2 million, up 18% over the same quarter prior year Company raises 2026 revenue guidance to $45-47 million Launched proprietary AI-powered Build-Tek™ custom order configurator, giving developers a faster path from preclinical to clinical manufacturing HOLLISTER, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Alpha Teknova, Inc. (“Teknova” or the “Company”) (Nasdaq: TKNO), a leading producer of critical reagents for the discovery, development, and commercialization of novel therapies, vaccines, and molecular diagnostics, today announced financial results for the second quarter ended June 30, 2026. "We delivered more than $12 million in quarterly revenue for the first time in Teknova's history, with growth across nearly all of the end markets we serve," said Stephen Gunstream, President and Chief Executive Officer at Teknova. "These results demonstrate the impact of the investments we've made in our commercial organization, state-of-the-art facilities, and manufacturing systems, and strengthen our confidence in our ability to deliver long-term, sustainable growth as the biotech market continues to recover." Matt Lowell, Teknova’s Chief Financial Officer, added, “We delivered excellent financial results in the second quarter 2026 compared to 2025, including 18% revenue growth and a significant improvement in Free Cash Outflow. We are therefore raising our 2026 revenue guidance to $45-47 million and adjusting down our expectations for full-year Free Cash Outflow to less than $8 million,” he explained. Corporate and Financial Updates Second quarter 2026 total revenue of $12.2 million, up 18% compared to $10.3 million for the second quarter 2025Total cash and short-term investments were $17.4 million and total borrowings were $13.2 million at the end of the second quarter 2026Following a second quarter beta release, the Company launched Build-Tek™, the AI-powered evolution of its proprietary custom configurator first introduced in 2024, now enabling therapeutic and diagnostic developers to build complex custom products in just minutes Revenue for the Second Quarter 2026 For the Three Months Ended June 30, For the Six Months Ended June 30,(Dollars in thousands)2026 2025 2026 2025Lab Essentials$9,184 $7,792 $17,579 $15,909Clinical Solutions 2,428 2,060 4,573 3,222Other 573 435 1,110 951Total revenue$12,185 $10,287 $23,262 $20,082  Second Quarter 2026 Financial Results Total revenue for the second quarter 2026 was $12.2 million, up 18% compared to $10.3 million in the second quarter 2025. Lab Essentials revenue was $9.2 million in the second quarter 2026, up 18% compared to $7.8 million in the second quarter 2025. Clinical Solutions revenue was $2.4 million in the second quarter 2026, up 18% compared to $2.1 million in the second quarter 2025. Gross profit for the second quarter 2026 was $4.9 million, compared to $4.0 million in the second quarter 2025. Gross margin for the second quarter 2026 was 40.1%, compared to 38.7% in the second quarter 2025. The increase in gross margin was primarily driven by higher revenue, partially offset by higher fixed cost absorption into cost of goods sold from faster finished goods inventory turns. This compares to the same period in the prior year that had benefited from unusually favorable manufacturing efficiency gains. Operating expenses for the second quarter 2026 were $7.8 million, compared to $7.4 million in the second quarter 2025. The increase was primarily driven by higher spending in sales and marketing, a result of higher headcount and increased marketing expenses, partially offset by lower general and administrative expenses attributable to lower stock-based compensation expense. Net loss for the second quarter 2026 was $3.2 million, or negative $0.06 per diluted share, compared to $3.6 million, or negative $0.07 per diluted share, for the second quarter 2025. Adjusted EBITDA for the second quarter 2026 was negative $0.7 million, compared to negative $0.8 million for the second quarter 2025. Cash used in operating activities for the second quarter 2026 was $0.5 million, compared to $2.1 million of cash used in operating activities for the second quarter 2025. Free Cash Outflow was $0.6 million for the second quarter 2026, compared to $2.3 million for the second quarter 2025. A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release. Improves 2026 Outlook Teknova raises its fiscal 2026 outlook for revenue and improves its outlook for Free Cash Outflow. The Company now anticipates total revenue of $45 million to $47 million for the fiscal year ending December 31, 2026 (“2026”). The Company also now expects Free Cash Outflow of less than $8 million for 2026. Upcoming Investor Conference Attendance Sidoti Microcap Conference (Virtual) August 19-20, 2026 ROTH Healthcare Opportunities Conference (New York, NY) September 29, 2026 Conference Call and Webcast Teknova will host a webcast and conference call on Wednesday, August 5, 2026, beginning at 6:00 p.m. Eastern Time. To access the live webcast, listeners can log onto the call from the Investor Relations section of the Teknova website or by using this link. If you would like to participate in the call, please register for the webcast here to receive a unique PIN number and dial-in information. The webcast will be available for replay on the Company’s website approximately two hours after the event. About Teknova Teknova makes solutions possible. Since 1996, Teknova has been innovating the manufacture of critical reagents for the life sciences industry to accelerate the discovery and development of novel breakthroughs that will help people live longer, healthier lives. We offer fully customizable solutions for every stage of the workflow, supporting industry leaders in genomics, molecular diagnostics, and emerging therapeutic modalities. Our fast turnaround of high-quality agar plates, microbial culture and cryopreservation media, buffers and reagents, and water helps our customers scale seamlessly from RUO to GMP. Headquartered in Hollister, California, with over 180,000 square feet of state-of-the-art facilities, Teknova’s modular manufacturing platform was designed by our team of scientists, engineers, and quality control experts to efficiently produce the foundational ingredients for the discovery and commercialization of next-generation therapies. Non-GAAP Financial Measures This press release contains financial measures that have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP). Teknova uses the following non-GAAP financial measures in assessing the performance of its business and the effectiveness of its business strategies: (a) Adjusted EBITDA and (b) Free Cash Flow (Outflow). Teknova defines Adjusted EBITDA as net income (loss) adjusted for interest income (expense), net, provision for (benefit from) income taxes, depreciation expense, amortization of intangible assets, and stock-based compensation expense. Adjusted EBITDA reflects further adjustments to eliminate the impact of certain items, including certain non-cash and other items that Teknova does not consider representative of its ongoing operating performance. Teknova defines Free Cash Flow (Outflow) as cash provided by (used in) operating activities less purchases of property, plant, and equipment. Teknova provides Adjusted EBITDA and Free Cash Flow (Outflow) in this press release because Teknova believes that analysts, investors, and other interested parties frequently use these measures to evaluate companies in Teknova’s industry and that such measures facilitate comparisons on a consistent basis across reporting periods. Teknova also believes such measures are helpful in highlighting trends in Teknova’s operating results because they exclude items that are not indicative of Teknova’s core operating performance. Investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures presented by Teknova may be different from the non-GAAP financial measures used by other companies. A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release. Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” These statements include, but are not limited to, statements relating to Teknova’s anticipated total revenue, including our expectations for 2026 revenue and Free Cash Outflow guidance, and other statements about Teknova’s business prospects, including about Teknova’s profitability, strategy of managing operating expenses, and long-term growth strategy. The words, without limitation, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. These forward-looking statements are based on management’s current expectations and beliefs and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond Teknova’s control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, demand for Teknova’s products (including the potential delay to or pausing of customer orders); Teknova’s assessment of fundamental indicators of future demand across its target customer base; Teknova’s cash flows and revenue growth rate; Teknova’s supply chain, sourcing, manufacturing, and warehousing; inventory management; risks related to global economic and marketplace uncertainties, including those related to the conflicts in Ukraine and the Middle East; potential acquisitions and integration of other companies; and other factors discussed in the “Risk Factors” section of Teknova’s most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), including in Teknova’s Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent Quarterly Reports on Form 10-Q filed with the SEC, all of which you may obtain for free on the SEC’s website at www.sec.gov. Although Teknova believes that the expectations reflected in its forward-looking statements are reasonable, Teknova does not know whether its expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which Teknova makes only as of the date hereof, even if they are repeated by Teknova subsequently. Teknova does not intend and shall have no obligation to update, amend, or clarify these forward-looking statements, except as may be required under applicable securities laws. Investor Contact Matt Lowell Chief Financial Officer [email protected] +1 831-637-1100 Media Contact Jennifer Henry Senior Vice President, Marketing [email protected] +1 831-313-1259 ALPHA TEKNOVA, INC. Condensed Statements of Operations (Unaudited) (In thousands, except share and per share data) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Revenue$12,185 $10,287 $23,262 $20,082 Cost of sales 7,300 6,303 14,593 13,091 Gross profit 4,885 3,984 8,669 6,991 Operating expenses: Research and development 554 581 1,163 1,133 Sales and marketing 2,122 1,573 4,250 3,213 General and administrative 4,812 4,929 9,870 10,421 Amortization of intangible assets 287 287 574 574 Total operating expenses 7,775 7,370 15,857 15,341 Loss from operations (2,890) (3,386) (7,188) (8,350)Other (expenses) income, net Interest expense, net (252) (165) (471) (309)Other adjustment to loan exit fee — — — 485 Other income 2 — 11 — Total other (expenses) income, net (250) (165) (460) 176 Loss before income taxes (3,140) (3,551) (7,648) (8,174)Provision for income taxes 30 19 77 41 Net loss$(3,170) $(3,570) $(7,725) $(8,215)Net loss per share—basic and diluted$(0.06) $(0.07) $(0.14) $(0.15)Weighted average shares used in computing net loss per share—basic and diluted 53,634,826 53,448,736 53,614,671 53,435,210 ALPHA TEKNOVA, INC. Condensed Balance Sheets (Unaudited) (In thousands) As of June 30, As of December 31, 2026 2025 ASSETS Current assets: Cash and cash equivalents$6,004 $5,912 Short-term investments, held-to-maturity 11,432 15,426 Accounts receivable, net 5,408 4,618 Inventories, net 6,911 7,054 Prepaid expenses and other current assets 1,069 1,501 Total current assets 30,824 34,511 Property, plant, and equipment, net 39,311 41,733 Operating right-of-use lease assets 13,247 14,112 Intangible assets, net 11,369 11,943 Other non-current assets 1,127 1,285 Total assets$95,878 $103,584 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$1,438 $1,378 Accrued liabilities 3,476 4,283 Current portion of operating lease liabilities 1,958 1,876 Total current liabilities 6,872 7,537 Deferred tax liabilities 956 879 Long-term debt, net 13,218 13,123 Long-term operating lease liabilities 12,232 13,270 Total liabilities 33,278 34,809 Stockholders’ equity: Preferred stock — — Common stock 1 1 Additional paid-in capital 206,114 204,564 Accumulated deficit (143,515) (135,790)Total stockholders’ equity 62,600 68,775 Total liabilities and stockholders’ equity$95,878 $103,584 ALPHA TEKNOVA, INC. Condensed Statements of Cash Flows (Unaudited) (In thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Operating activities: Net loss$(3,170) $(3,570) $(7,725) $(8,215)Adjustments to reconcile net loss to net cash used in operating activities: Bad debt expense (2) 4 5 49 Inventory reserve 412 488 825 925 Depreciation and amortization 1,593 1,590 3,169 3,170 Stock-based compensation 622 950 1,317 1,802 Deferred taxes 31 20 77 41 Accrued interest income on short-term investments 34 108 7 54 Amortization of discount on short-term investments (58) (171) (145) (355)Amortization of debt financing costs 48 43 95 129 Other adjustment to loan exit fee — — — (485)Non-cash lease expense 14 31 29 61 Loss on disposal of property, plant, and equipment 24 19 24 19 Changes in operating assets and liabilities: Accounts receivable 266 472 (795) (877)Inventories (449) (1,525) (682) (1,734)Prepaid expenses and other current assets 155 (36) 312 (40)Other non-current assets 68 (29) 158 34 Accounts payable (172) (360) 158 380 Accrued liabilities 113 (135) (659) (1,152)Other — — — (10)Cash used in operating activities (471) (2,101) (3,830) (6,204)Investing activities: Purchases of short-term investments (3,930) (7,765) (7,868) (9,735)Maturities of short-term investments 6,000 10,000 12,000 16,000 Purchases of property, plant, and equipment (125) (207) (346) (413)Cash provided by investing activities 1,945 2,028 3,786 5,852 Financing activities: Proceeds from long-term debt — — — 1,110 Payment of exit fee costs — — — (1,110)Repayment of financed insurance premiums — — (97) (56)Proceeds from exercise of stock options 170 16 179 20 Proceeds from issuance of common stock under employee stock purchase plan 54 56 54 56 Payment of debt issuance costs — (100) — (100)Cash provided by (used in) financing activities 224 (28) 136 (80)Change in cash and cash equivalents 1,698 (101) 92 (432)Cash and cash equivalents at beginning of period 4,306 3,377 5,912 3,708 Cash and cash equivalents at end of period$6,004 $3,276 $6,004 $3,276 ALPHA TEKNOVA, INC. Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (Unaudited) (In thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Net loss – as reported$(3,170) $(3,570) $(7,725) $(8,215)Add back: Interest expense, net (252) (165) (471) (309)Provision for income taxes 30 19 77 41 Depreciation expense 1,306 1,303 2,595 2,596 Amortization of intangible assets 287 287 574 574 EBITDA$(1,295) $(1,796) $(4,008) $(4,695)Other and non-recurring expenses: Stock-based compensation expense 622 950 1,317 1,802 Other adjustment to loan exit fee — — — (485)Adjusted EBITDA$(673) $(846) $(2,691) $(3,378) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Cash used in operating activities$(471) $(2,101) $(3,830) $(6,204)Purchases of property, plant, and equipment (125) (207) (346) (413)Free Cash Flow$(596) $(2,308) $(4,176) $(6,617)  This press release was published by a CLEAR® Verified individual.