Financial Data and Key Metrics Changes - The company reported a 17% revenue growth in Q3 2024 compared to the same period last year, with total revenue reaching $9.6 million, up from $8.2 million in Q3 2023 [6][13] - Free cash outflow was $2.4 million, the lowest level in over three years, reflecting improved cost management [6][22] - Gross profit for Q3 2024 was $0.1 million, with a gross margin of 0.9%, down from 18.0% in Q3 2023, primarily due to a $2.8 million non-recurring non-cash charge [17][18] - Net loss for Q3 2024 was $7.6 million or $0.15 per diluted share, compared to a net loss of $10.2 million or $0.34 per diluted share in Q3 2023 [20] Business Line Data and Key Metrics Changes - Lab Essentials revenue was $7.2 million in Q3 2024, a 2% decrease from $7.3 million in Q3 2023, attributed to lower average revenue per customer [14] - Clinical Solutions revenue surged to $2.0 million, a 229% increase from $0.6 million in Q3 2023, driven by an increased number of customers [15][16] Market Data and Key Metrics Changes - The biopharma market is stabilizing, with expectations of modest growth in 2025 despite some customers rationalizing their clinical pipelines [7][11] - The number of active clinical customers increased in Q3 2024, indicating potential for increased annual spending as therapies move closer to commercialization [8] Company Strategy and Development Direction - The company aims for sustainable above-market growth, supported by a strong pipeline of clinical customers and operational improvements [11] - The infrastructure is in place to support up to approximately $200 million in revenue, with a focus on cost management and operational efficiency [11][10] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving long-term growth goals, citing a stabilized market environment and a diverse customer base [11][29] - The company anticipates a revenue guidance of $35 million to $38 million for 2024, with expectations of a slight decline in Q4 due to fewer business days and a canceled order [24][25] Other Important Information - The company has reduced operating expenses by more than $9 million on an annualized basis since the end of 2023, achieving the lowest operating expenses since its IPO [10][19] - As of September 30, 2024, the company had $31.7 million in cash and equivalents, with $12.1 million in gross debt [23] Q&A Session Summary Question: Update on Express-Tek and RUO+ launches - Management reported positive engagement and execution on Express-Tek and RUO+, with no significant additional investment needed in sales and marketing [31][34] Question: Future write-downs and inventory management - Management does not anticipate future write-downs and has implemented new inventory management rules to better control stock levels [35][36] Question: Trends in cell and gene therapy customers - Management noted no significant differences in trends between cell and gene therapy and other biotech customers, with overall market stabilization [39][40] Question: Product portfolio and future developments - Management indicated ongoing development of service-related products and potential for new offerings based on customer needs, with a focus on short-term investments [42][43] Question: Acceleration in 2025 growth - Management expects modest growth in 2025, aiming to return to historical growth rates by 2026, contingent on market conditions [48][49] Question: Gross margin improvement strategies - Management highlighted potential for significant gross margin improvement through revenue growth and operational efficiencies [50][51] Question: Customer engagement and competitive landscape - Management observed improved customer engagement and a stable competitive environment, with ongoing efforts to increase customer acquisition [68][69]

Financial Performance - Revenue for the three months ended September 30, 2024, was $9,576 thousand, an increase of 17.2% compared to $8,169 thousand for the same period in 2023[15] - Gross profit for the three months ended September 30, 2024, was $90 thousand, a significant decrease from $1,472 thousand in the same period last year[15] - Net loss for the three months ended September 30, 2024, was $(7,565) thousand, an improvement from $(10,153) thousand for the same period in 2023[15] - Net loss for the nine months ended September 30, 2024, was $21.0 million, an improvement from a net loss of $26.1 million for the same period in 2023[24] - The company reported an operating loss of $7.4 million for the three months ended September 30, 2024, compared to an operating loss of $8.8 million for the same period in 2023[101] - The company incurred net losses of $7.6 million and $21.0 million for the three and nine months ended September 30, 2024, respectively, with an accumulated deficit of $112.8 million as of the same date[136] Cash Flow and Liquidity - Cash and cash equivalents decreased to $6,145 thousand as of September 30, 2024, from $28,484 thousand as of December 31, 2023[17] - Cash used in operating activities decreased to $11.5 million from $15.9 million year-over-year[24] - Cash provided by financing activities increased to $15.0 million compared to $13.4 million in the previous year[24] - As of September 30, 2024, cash, cash equivalents, and restricted cash totaled $6.1 million, down from $32.1 million at the end of the previous year[24] - Net cash used in operating activities was $11.5 million for the nine months ended September 30, 2024, primarily due to a net loss of $21.0 million adjusted for non-cash charges of $12.4 million[144] - Net cash provided by financing activities was $14.977 million for the nine months ended September 30, 2024, primarily from net proceeds of $15.2 million from the July 2024 Offering[148] Expenses and Cost Management - Total operating expenses for the three months ended September 30, 2024, were $7,522 thousand, down 26.5% from $10,234 thousand in the prior year[15] - Research and development expenses for the three months ended September 30, 2024, were $627 thousand, compared to $1,397 thousand in the same period last year[15] - The company incurred $1.3 million in costs related to a reduction in workforce of approximately 35 positions aimed at reducing operating expenses[36] - Total operating expenses for the nine months ended September 30, 2024, were $25.6 million, a decrease of $8.0 million or 23.9% compared to $33.7 million in 2023[127] - Sales and marketing expenses were $4.8 million, down 31.3% from $6.9 million in the prior year[128] - General and administrative expenses decreased to $17.8 million from $19.4 million, a reduction of 8.2%[129] Revenue Breakdown - Revenue from Lab Essentials for the three months ended September 30, 2024, was $7,161 thousand, compared to $7,274 thousand in 2023, reflecting a decline of 1.5%[45] - Clinical Solutions revenue increased to $1,964 thousand for the three months ended September 30, 2024, from $597 thousand in 2023, marking a significant growth of 228.5%[45] - For the nine months ended September 30, 2024, Teknova reported total revenue of $28,480 thousand, slightly down from $28,817 thousand in 2023, indicating a decrease of 1.2%[45] - Revenue from U.S. sales was $9.1 million, representing 94.6% of total revenue for the three months ended September 30, 2024, compared to $7.8 million or 95.8% in 2023[109] - Revenue from U.S. sales was $27.2 million, representing 95.3% of total revenue, compared to $27.6 million or 95.9% in 2023[124] Assets and Liabilities - Total assets as of September 30, 2024, were $124,099 thousand, down from $128,587 thousand as of December 31, 2023[17] - Total liabilities decreased to $36,831 thousand as of September 30, 2024, from $38,551 thousand as of December 31, 2023[17] - The company reported total accrued liabilities of $4,373 thousand as of September 30, 2024, down from $5,579 thousand as of December 31, 2023, a reduction of 21.6%[59] - As of September 30, 2024, total long-term debt was $13.385 million, with a net long-term debt of $10.857 million after accounting for current portions[66] Stock and Equity - The company reported a weighted average share count of 53,302,993 for the three months ended September 30, 2024[19] - The weighted average exercise price of stock options outstanding as of September 30, 2024, was $5.00, with an aggregate intrinsic value of $8.262 million[73] - The Company granted 730,100 stock options during the nine months ended September 30, 2024[73] - The Company issued 60,000 restricted stock units during the nine months ended September 30, 2024, with an aggregate intrinsic value of $618,000[76] - The Company has reserved 312,174 shares under the 2016 Stock Plan, 1,529,495 shares under the 2020 Equity Incentive Plan, and 2,265,572 shares under the 2021 Equity Incentive Plan for future issuance[169] Compliance and Risk Management - The company is in compliance with its financial covenants under the Amended Credit Agreement as of September 30, 2024, alleviating previous concerns about going concern status[32] - The minimum net revenue requirement for the twelve months ending December 31, 2024, was reduced from $42.0 million to $34.0 million[63] - The minimum cash requirement increased from $9.0 million to $10.0 million under the Amended Credit Agreement[63] - The company has not been involved in any material legal proceedings as of the report date, but acknowledges the unpredictability and potential costs associated with future legal claims[161] - The company encourages stakeholders to review the "Risk Factors" section in the 2023 Annual Report on Form 10-K for a comprehensive understanding of risks that could materially affect its business[163]

FINANCIAL RESULTS Q3:2024 SLIDE SUPPLEMENT Nasdaq: TKNO November 7, 2024 Forward-looking statements and use of non-GAAP financial measures Statements in this presentation 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 2024 revenue and free cash ...

Revenue Performance - Total revenue for Q3 2024 was $9.6 million, a 17% increase from $8.2 million in Q3 2023[4] - Clinical Solutions revenue surged 229% to $2.0 million in Q3 2024, compared to $0.6 million in Q3 2023[6] - Teknova reaffirms its 2024 revenue guidance of $35 million to $38 million, anticipating roughly 2% growth in Lab Essentials[11][12] Profitability and Margins - Gross margin for Q3 2024 was 0.9%, significantly down from 18.0% in Q3 2023, primarily due to a $2.8 million non-recurring charge[7] - Net loss for Q3 2024 was $7.6 million, or negative $0.15 per diluted share, an improvement from a net loss of $10.2 million, or negative $0.34 per diluted share, in Q3 2023[9][25] - Adjusted EBITDA for Q3 2024 was negative $5.0 million, an improvement from negative $5.5 million in Q3 2023[10] Cash Flow and Liquidity - The company lowered its 2024 total free cash outflow outlook to less than $16 million, down from less than $18 million[12] - Total cash and short-term investments were $31.7 million, with gross debt at $12.1 million at the end of Q3 2024[4] - Cash used in operating activities for the nine months ended September 30, 2024, was $11,455 thousand, a decrease from $15,922 thousand for the same period in 2023, reflecting a reduction of approximately 28.9%[29] - The company’s cash and cash equivalents decreased to $6,145 thousand as of September 30, 2024, down from $32,112 thousand at the end of the previous year, a decline of approximately 81.9%[27] - Free cash flow for the nine months ended September 30, 2024, was $(12,013) thousand, an improvement from $(23,544) thousand for the same period in 2023, indicating a reduction of approximately 48.9%[29] Expenses and Liabilities - Operating expenses decreased to $7.5 million in Q3 2024 from $10.2 million in Q3 2023, driven by reduced headcount and spending[8] - Total current liabilities increased to $9,719 thousand as of September 30, 2024, compared to $8,875 thousand as of December 31, 2023, representing an increase of approximately 9.5%[26] - The company’s long-term debt decreased to $10,857 thousand as of September 30, 2024, down from $13,251 thousand as of December 31, 2023, representing a decline of approximately 18.1%[26] Asset Management - As of September 30, 2024, total assets decreased to $124,099 thousand from $128,587 thousand as of December 31, 2023, representing a decline of approximately 3.9%[26] - The company recorded $2.8 million in non-recurring, non-cash charges related to inventory disposal, which impacted gross profit[4][7] - The company’s accumulated deficit increased to $(112,812) thousand as of September 30, 2024, compared to $(91,786) thousand as of December 31, 2023, indicating a worsening of approximately 22.9%[26] Financing Activities - The company raised $15,141 thousand from equity financing in the three months ended September 30, 2024, compared to $22,915 thousand in the same period of 2023, a decrease of approximately 34.1%[27] - Adjusted EBITDA for the three months ended September 30, 2024, was $(5,001) thousand, an improvement from $(5,477) thousand for the same period in 2023, reflecting a positive change of approximately 8.7%[28] - The company reported a net loss of $7,565 thousand for the three months ended September 30, 2024, compared to a net loss of $10,153 thousand for the same period in 2023, indicating an improvement of approximately 25.9%[28]

Core Viewpoint - Alpha Teknova, Inc. is set to report its financial results for Q3 2024 on November 7, 2024, and will host a webcast and conference call for investors [1] Group 1: Company Overview - Teknova has been innovating in the manufacture of critical reagents since 1996, focusing on accelerating the discovery and development of novel therapies [2] - The company provides customizable solutions for various stages of the workflow, supporting sectors such as cell and gene therapy, molecular diagnostics, and synthetic biology [2] - Teknova operates from a headquarters in Hollister, California, with over 200,000 square feet of advanced facilities designed for efficient production [2] Group 2: Financial Reporting - The financial results for the third quarter ended September 30, 2024, will be reported after market close on November 7, 2024 [1] - A live webcast and conference call will take place on the same day at 5:30 p.m. Eastern Time, with a replay available approximately two hours after the event [1]

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Alpha Teknova, Inc. (NASDAQ:TKNO) Q2 2024 Earnings Conference Call August 13, 2024 5:00 PM ET Company Participants Jennifer Henry - SVP, Marketing Stephen Gunstream - President & CEO Matt Lowell - CFO Conference Call Participants Mark Massaro - BTIG Jacob Johnson - Stephens Steven Mah - TD Cowen Paul Knight - KeyBanc Matt Larew - William Blair Operator Good day and thank you for standing by. Welcome to the Teknova's Second Quarter 2024 Financial Results. At this time, all participants are in a listen-only m ...

| --- | --- | --- | --- | |-------|-----------------------------------------------|-------|-------| | | | | | | | | | | | | FINANCIAL RESULTS: Q2:2024 | | | | | SLIDE SUPPLEMENT Nasdaq: TKNO August 13, 2024 | | | Forward-looking statements and use of non-GAAP financial measures Statements in this presentation 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, b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40538 ALPHA TEKNOVA, INC. (Exact name of registrant as specified in its charter) Delaware 94-3368109 (State or other jurisdiction ...

Exhibit 99.1 teknova: Teknova Reports Second Quarter 2024 Financial Results Second quarter 2024 total revenue was $9.6 million, up 3% sequentially Raised $15.4 million of equity capital in July 2024 Launched two new offerings: Express-TekSM Production and RUO+ manufacturing grade Company reaffirms 2024 revenue guidance of $35-38 million HOLLISTER, Calif., August 13, 2024 – Alpha Teknova, Inc. ("Teknova" or the "Company") (Nasdaq: TKNO), a leading producer of critical reagents for the discovery, development, ...