Company reaffirms 2024 revenue guidance of $35-38 million Business and Financial Updates Clinical Solutions: Teknova has seen an increase in the number of Clinical Solutions customers since fiscal 2023, from 34 to 43. While the Company's overall revenue in fiscal 2024 is expected to be lower within the Clinical Solutions category compared to fiscal 2023, Teknova has successfully grown the number of its customers entering clinical trials and ordering its GMP-grade products, supporting the Company's thesis th ...

Company reaffirms 2024 revenue guidance of $35-38 million "I'm excited to share our sustained progress in executing against our strategy," said Stephen Gunstream, President and Chief Executive Officer. "I'm increasingly confident that we will continue to deliver through the end of this year and beyond, in particular as market conditions appear likely to improve, notably with recent FDA approvals of novel gene therapies and with a recovery in biotech and cell and gene therapy funding more broadly." Second qu ...

Core Viewpoint - Alpha Teknova (TKNO) has experienced a significant downtrend, with a 24.6% decline over the past four weeks, but is now in oversold territory, suggesting a potential turnaround due to improved earnings expectations from analysts [1]. Group 1: Technical Indicators - The Relative Strength Index (RSI) is a key technical indicator used to identify oversold conditions, with a reading below 30 indicating that a stock may be oversold [2]. - TKNO's current RSI reading is 22.19, indicating that the heavy selling pressure may be exhausting itself, suggesting a possible trend reversal [2]. Group 2: Fundamental Indicators - There is a strong consensus among sell-side analysts regarding an increase in TKNO's earnings estimates, with a 1.5% rise in the consensus EPS estimate over the last 30 days [4]. - TKNO holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a strong potential for a near-term turnaround [4].

Investors might want to bet on Alpha Teknova (TKNO) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. The p ...

Alpha Teknova, Inc. (NASDAQ:TKNO) Q1 2024 Earnings Conference Call May 13, 2024 5:00 PM ET Company Participants Jennifer Henry - Senior Vice President of Marketing Stephen Gunstream - President and Chief Executive Officer Matthew Lowell - Chief Financial Officer Conference Call Participants Jacob Johnson - Stephens Steven Mah - TD Cowen Matt Larew - William Blair Vidyun Bais - BTIG Operator Good day and thank you for standing by. Welcome to Teknova's First Quarter 2024 Financial Results Conference Call. At ...

[PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Condensed Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Condensed%20Financial%20Statements%20(Unaudited)) This section presents unaudited condensed financial statements for Q1 2024, highlighting a net loss and substantial doubt about the company's going concern status Condensed Statements of Operations (Q1 2024 vs Q1 2023) | Metric | For the Three Months Ended March 31, 2024 (in thousands) | For the Three Months Ended March 31, 2023 (in thousands) | | :--- | :--- | :--- | | Revenue | $9,290 | $9,121 | | Gross Profit | $2,209 | $2,423 | | Loss from Operations | $(7,986) | $(8,946) | | Net Loss | $(8,097) | $(8,817) | | Net Loss Per Share | $(0.20) | $(0.31) | Condensed Balance Sheet Highlights | Metric | As of March 31, 2024 (in thousands) | As of December 31, 2023 (in thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $21,596 | $28,484 | | Total current assets | $38,823 | $45,660 | | Total assets | $120,817 | $128,587 | | Total liabilities | $37,439 | $38,551 | | Total stockholders' equity | $83,378 | $90,036 | - Management has substantial doubt about the Company's ability to continue as a going concern for the next twelve months due to recurring net losses of **$8.1 million** in Q1 2024, an accumulated deficit of **$99.9 million**, and the risk of not meeting debt covenants[35](index=35&type=chunk)[36](index=36&type=chunk)[38](index=38&type=chunk) - In January 2024, the company implemented a workforce reduction of approximately **35 positions**, incurring **$1.3 million** in severance and termination benefits[40](index=40&type=chunk) Revenue by Product Category | Product Category | Q1 2024 Revenue (in thousands) | Q1 2023 Revenue (in thousands) | | :--- | :--- | :--- | | Lab Essentials | $7,266 | $7,257 | | Clinical Solutions | $1,718 | $1,609 | | Other | $306 | $255 | | **Total Revenue** | **$9,290** | **$9,121** | - On March 8, 2024, the company amended its credit agreement with MidCap, reducing minimum net revenue requirements for 2024 from **$42.0 million** to **$34.0 million** and increasing the minimum cash requirement from **$9.0 million** to **$10.0 million**[63](index=63&type=chunk)[66](index=66&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 financial performance, noting revenue growth, declining gross profit margin, reduced operating expenses, and ongoing liquidity concerns Results of Operations Comparison | Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | $ Change (in thousands) | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | $9,290 | $9,121 | $169 | 1.9% | | Gross Profit | $2,209 | $2,423 | $(214) | (8.8)% | | Loss from Operations | $(7,986) | $(8,946) | $960 | (10.7)% | | Net Loss | $(8,097) | $(8,817) | $720 | (8.2)% | - The decrease in gross profit percentage to **23.8%** from **26.6%** was primarily driven by increased overhead costs, largely depreciation expense, following the completion of the new manufacturing facility[105](index=105&type=chunk) - Operating expenses decreased due to reduced headcount, with Research and development expenses falling by **38.4%** and Sales and marketing expenses by **28.9%**, while General and administrative expenses included a one-time **$1.3 million** charge for the workforce reduction[106](index=106&type=chunk)[107](index=107&type=chunk)[108](index=108&type=chunk) - The company's liquidity is constrained, with **$21.6 million** in cash and cash equivalents as of March 31, 2024, raising substantial doubt about its ability to continue as a going concern due to insufficient capital to meet obligations over the next twelve months[114](index=114&type=chunk)[120](index=120&type=chunk) Net Cash Flow Summary | Cash Flow Activity | For the Three Months Ended March 31, 2024 (in thousands) | For the Three Months Ended March 31, 2023 (in thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | $(6,558) | $(7,684) | | Net cash provided by (used in) investing activities | $13 | $(4,312) | | Net cash used in financing activities | $(343) | $(25) | | **Net decrease in cash and cash equivalents** | **$(6,888)** | **$(12,021)** | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is exempt from providing quantitative and qualitative disclosures about market risk - As a smaller reporting company, Teknova is exempt from providing quantitative and qualitative disclosures about market risk[134](index=134&type=chunk) [Item 4. Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal controls - Based on an evaluation as of March 31, 2024, the Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective[135](index=135&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended March 31, 2024, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[136](index=136&type=chunk) [PART II. OTHER INFORMATION](index=38&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company is not party to material legal proceedings but has accrued **$0.3 million** for a pending former employee labor claim - In August 2023, a former employee filed a claim alleging violations of California's labor, wage, and hour laws, with a mediation scheduled for June 6, 2024[88](index=88&type=chunk) - The company has accrued its best estimate of potential loss related to the labor claim in the amount of **$0.3 million**, which is included in 'Accrued liabilities'[88](index=88&type=chunk) [Item 1A. Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) Updated risk factors highlight the company's history of operating losses and potential stock price dilution from available shares - The company has a history of operating losses, including **$8.1 million** for Q1 2024, and may not achieve or maintain profitability in the future[142](index=142&type=chunk) - A significant portion of the company's total outstanding shares are available for immediate resale, which could cause the market price of its common stock to drop significantly[143](index=143&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered equity sales and confirms full utilization of IPO net cash proceeds as of March 31, 2024 - There were no unregistered sales of equity securities during the quarter[147](index=147&type=chunk) - As of March 31, 2024, the company has used all of the net cash proceeds from its IPO[148](index=148&type=chunk) [Item 3. Defaults Upon Senior Securities](index=40&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities - None reported[150](index=150&type=chunk) [Item 4. Mine Safety Disclosures](index=40&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[151](index=151&type=chunk) [Item 5. Other Information](index=40&type=section&id=Item%205.%20Other%20Information) The company reports no other information for this item - None reported[152](index=152&type=chunk) [Item 6. Exhibits](index=40&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the 10-Q report, including credit agreement amendments and officer certifications - The report includes a list of all exhibits filed, such as corporate governance documents, credit agreement amendments, and officer certifications[153](index=153&type=chunk)[154](index=154&type=chunk)

Corporate and Financial Updates 1 Exhibit 99.1 Teknova Reports First Quarter 2024 Financial Results First quarter 2024 total revenue was $9.3 million, up 2% from prior year Launch of Build-TekTM Custom Configurator Company reaffirms 2024 revenue guidance of $35-38 million HOLLISTER, Calif., May 13, 2024 – 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 di ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Delaware 94-3368109 (State or other jurisdiction of incorporation or organization) Commission File Number 001-40538 ALPHA TEKNOVA, INC. (Exact name of registran ...

Alpha Teknova, Inc. (NASDAQ:TKNO) Q4 2023 Earnings Conference Call March 11, 2024 5:30 PM ET Company Participants Jennifer Henry - Senior Vice President of Marketing Stephen Gunstream - President & Chief Executive Officer Matthew Lowell - Chief Financial Officer Conference Call Participants Mark Massaro - BTIG Jacob Johnson - Stephens Steven Mah - TD Cohen Madeline Mollman - William Blair Paul Knight - KeyBanc Operator Hello, and thank you for standing by. Welcome to Teknova Fourth Quarter 2023 Financial Re ...

Exhibit 99.1 Teknova Reports Fourth Quarter and Full Year 2023 Financial Results Full year 2023 total revenue was $36.7 million, down 11% year-over-year Achieved 36% annual growth in the number of Clinical Solutions customers in 2023 Company provides 2024 revenue guidance of $35-38 million HOLLISTER, Calif., March 11, 2024 – Alpha Teknova, Inc. ("Teknova" or the "Company") (Nasdaq: TKNO), a leading producer of critical reagents for the discovery, development, and commercialization of novel therapies, vaccin ...