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 ☐ 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 of incorporation or organization) 2451 Bert Dr. ...

Financial Performance - Revenue for the three months ended March 31, 2022, was $11.1 million, an increase of $2.1 million or 22.8% compared to $9.1 million for the same period in 2021[79]. - Operating loss for the three months ended March 31, 2022, was $5.8 million, compared to an operating loss of $0.8 million for the same period in 2021, representing a 605.7% increase in loss[80]. - Gross profit for the three months ended March 31, 2022, was $5.3 million, with a gross profit margin of 48.0%, down from 55.4% in the same period in 2021[89]. - Clinical Solutions revenue surged to $3.8 million for the three months ended March 31, 2022, a 255.9% increase from $1.1 million in the same period in 2021[85]. - Revenue from U.S. customers was $10.8 million for the three months ended March 31, 2022, representing 97.1% of total revenue, up from 96.0% in the same period in 2021[87]. - Revenue from international sales was $0.3 million for the three months ended March 31, 2022, down from $0.4 million in the same period in 2021, representing 2.9% of total revenue[88]. Expenses - Total operating expenses for the three months ended March 31, 2022, were $11.2 million, a significant increase of 91.2% from $5.9 million in the same period in 2021[90]. - Research and development expenses increased to $2.0 million for the three months ended March 31, 2022, a rise of 187.6% compared to $0.7 million for the same period in 2021[90]. - General and administrative expenses rose to $7.3 million for the three months ended March 31, 2022, a 75.3% increase from $4.2 million in the same period in 2021[92]. - The company ceased production of sample transport medium due to declining market demand, resulting in revenue of only $6, compared to $0.9 million in the same period in 2021[86]. Cash Flow and Financing - Net cash used in operating activities for Q1 2022 was $5.2 million, compared to a net cash provided of $2.4 million in Q1 2021[108][110]. - Net cash used in investing activities was $5.9 million for Q1 2022, primarily for purchases of property, plant, and equipment[112]. - The company entered into a credit facility of $27.0 million, consisting of a $22.0 million term loan and a $5.0 million working capital facility[98]. - As of March 31, 2022, the outstanding balance on the term loan was $12.0 million, with no drawdown on the revolving loan[99][101]. - The company expects to maintain sufficient liquidity to fund operations for at least the next 24 months, but may seek additional financing[107]. Regulatory and Compliance - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to take advantage of certain reporting exemptions until it no longer qualifies[118]. - The company is also classified as a "smaller reporting company," which permits it to utilize scaled disclosures until specific market value or revenue thresholds are met, such as a market value of $250 million or annual revenues exceeding $100 million[119]. - The company can present only two years of audited financial statements due to its smaller reporting company status, reducing its financial data obligations[119]. - The company is exempt from the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, which simplifies compliance[119]. - The company will remain an emerging growth company until it reaches total annual gross revenues of $1.07 billion or more, among other criteria[120]. - The company has not disclosed any recent accounting pronouncements that may impact its financial position in the current report[121]. - As a smaller reporting company, the company is not required to provide quantitative and qualitative disclosures about market risk for this reporting period[122]. Taxation - The benefit from income taxes for Q1 2022 was $0.4 million, an increase of 117.6% compared to $0.2 million in Q1 2021, primarily due to an increase in operating loss[94]. Capital Expenditures - The company is constructing a new manufacturing facility in Hollister, California, which is expected to be a significant use of cash over the next 6 to 12 months[97]. Working Capital - As of March 31, 2022, the company had $79.3 million in net working capital, including $76.5 million in cash and cash equivalents[95]. - The credit agreement requires a minimum revenue of $37.5 million by December 31, 2022, increasing to $51.5 million by December 31, 2025[102].

Q1 2022 Financial Results Slide Supplement Nasdaq: TKNO May 11, 2022 Today's Agenda 2 1. Welcome 2. Business Highlights & Updates — Stephen Gunstream, President and CEO 3. Financial Results — Matt Lowell, CFO 4. Q&A 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 "forwardlooking statements." These statements include, ...

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, 2021 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 of ...

Alpha Teknova, Inc. (NASDAQ:TKNO) Q4 2021 Earnings Conference Call March 15, 2022 4:30 PM ET Company Participants Sarah Mitchell – Investor Relations Stephen Gunstream – President and Chief Executive Officer Matt Lowell – Chief Financial Officer Conference Call Participants Sung Ji Nam – BTIG Jacob Johnson – Stephen Max Masucci – Cowen Matt Larew – William Blair Operator Ladies and gentlemen thank you for standing by. And welcome to the Alpha Teknova Fourth Quarter 2021 Financial Results Conference Call. At ...

Company Overview - Teknova is a leading provider of research and clinical-grade reagents, supporting drug discovery, development, and production[6] - The company has a strong competitive position with expertise in custom reagent manufacturing and short turnaround times[6] - Teknova produces bioprocessing tools for cell & gene therapy, creating a breakthrough growth opportunity[6] - The company has over 3,000 active customers[7,27] Financial Performance - Trailing Twelve Months (TTM) core revenue was $33.4 million[7] - TTM core growth was 37%[7] - Clinical (GMP) TTM growth was 71%[7] - Total revenue increased by 41% year-over-year[53] - Q3 2021 total revenue was up 5% year-over-year, or 26% excluding Sample Transport[71] Cell & Gene Therapy Market - The global cell & gene therapy market is expected to grow from $2.3 billion in 2020 to $45.4 billion in 2026, a 64% CAGR[29] - Teknova is a supplier to more than 65 leading cell & gene therapy organizations[40] - 62% of Teknova's accounts are in the research & discovery phase[42] Investments and Future Targets - The company is investing to support rapid growth to revenue of $100 million+[45] - Teknova is expanding production capacity five-fold[49] - The target model includes sustainable 25%+ revenue growth, 65%+ gross margin, and 25-30% adjusted EBITDA margin[66]

Company Overview - Teknova is a leading provider of research and clinical-grade reagents, supporting drug therapies, vaccines, and diagnostics[7] - The company has a strong competitive position with expertise in custom reagent manufacturing and short turnaround times[7] - Teknova produces bioprocessing tools critical to cell & gene therapy, creating a breakthrough growth opportunity[7] - The company has infrastructure in place to support growth, including investments in capacity expansion, marketing, sales, and R&D[8] - As of September 30, 2021, Teknova's TTM core revenue was $33.4 million with 37% TTM core growth, excluding $3.6 million of non-recurring Sample Transport revenue[9] - Clinical (GMP) TTM growth was 71%[9] Cell & Gene Therapy Market - The global Cell & Gene therapy market is expected to grow from $2.3 billion in 2020 to $45.4 billion in 2026, representing a 64% CAGR[31] - Teknova's portfolio addresses complex needs across the gene therapy production workflow[32] - Teknova is already a supplier to more than 65 leading Cell & Gene therapy organizations[41] Financial Performance - Total revenue increased by 41% year-over-year[54] - Total revenue of $33.4 million, excluding Sample Transport, increased by 37% year-over-year[54] - Clinical Solutions growth was strong, up 71% year-over-year[54]

Alpha Teknova, Inc. (NASDAQ:TKNO) Q3 2021 Results Conference Call November 10, 2021 4:30 PM ET Company Participants Sarah Mitchell - Investor Relations Stephen Gunstream - Chief Executive Officer Matthew Lowell - Chief Financial Officer Conference Call Participants Max Masucci - Cowen Sung Ji Nam - BTIG Jacob Johnson - Stephens Operator Good day and thank you for standing by. Welcome to the Teknova Third Quarter 2021 Financial Results conference call. At this time, all participants are in listen-only mode. ...

PART I. FINANCIAL INFORMATION [Item 1. Condensed Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Condensed%20Financial%20Statements%20(Unaudited)) Unaudited statements show revenue growth offset by higher operating expenses, resulting in a net loss following the IPO [Condensed Balance Sheets](index=5&type=section&id=Condensed%20Balance%20Sheets) Total assets and equity surged due to IPO proceeds, while liabilities grew from new long-term debt Condensed Balance Sheet Highlights (in thousands) | Metric | Sep 30, 2021 | Dec 31, 2020 | Change | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Cash and cash equivalents | $98,013 | $3,315 | +$94,698 | | Total current assets | $111,079 | $16,414 | +$94,665 | | Total assets | $169,163 | $62,911 | +$106,252 | | **Liabilities & Equity** | | | | | Total current liabilities | $6,204 | $3,962 | +$2,242 | | Long-term debt | $11,826 | $0 | +$11,826 | | Total liabilities | $22,937 | $10,506 | +$12,431 | | Total stockholders' equity | $146,226 | $16,767 | +$129,459 | [Condensed Statements of Operations](index=6&type=section&id=Condensed%20Statements%20of%20Operations) Revenue grew but higher operating expenses led to a net loss in 2021, reversing the prior year's net income Statement of Operations Summary (in thousands) | Metric | Q3 2021 | Q3 2020 | YoY Change | Nine Months 2021 | Nine Months 2020 | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue | $9,392 | $8,984 | +4.5% | $26,783 | $21,140 | +26.7% | | Gross Profit | $4,263 | $5,088 | -16.2% | $12,642 | $12,186 | +3.7% | | (Loss) Income from Operations | $(3,888) | $2,152 | - | $(7,241) | $3,868 | - | | Net (Loss) Income | $(3,251) | $1,533 | - | $(6,156) | $2,993 | - | Net (Loss) Income Per Share | Metric | Q3 2021 | Q3 2020 | Nine Months 2021 | Nine Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Basic EPS | $(0.12) | $0.07 | $(0.51) | $0.14 | | Diluted EPS | $(0.12) | $0.07 | $(0.51) | $0.14 | [Condensed Statements of Cash Flows](index=9&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Financing activities, driven by IPO proceeds, funded cash used in operations and significant investing activities Cash Flow Summary (Nine Months Ended Sep 30, in thousands) | Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(5,987) | $71 | | Net cash (used in) provided by investing activities | $(10,109) | $923 | | Net cash provided by (used in) financing activities | $110,794 | $(1,599) | | **Change in cash and cash equivalents** | **$94,698** | **$(605)** | [Notes to Unaudited Condensed Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Financial%20Statements) Notes detail the IPO's impact, revenue disaggregation, new credit facilities, and stock-based compensation plans - In June 2021, the company completed its IPO, issuing 6,900,000 shares and receiving **$99.1 million in net proceeds** after deducting underwriting discounts and offering expenses[34](index=34&type=chunk) - On June 28, 2021, all outstanding convertible and redeemable preferred stock was converted into **17,512,685 shares of common stock**[35](index=35&type=chunk) Revenue by Product Category (in thousands) | Product Category | Q3 2021 | Q3 2020 | Nine Months 2021 | Nine Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Lab Essentials | $7,195 | $5,815 | $20,440 | $15,494 | | Clinical Solutions | $1,690 | $1,354 | $4,354 | $3,141 | | Sample Transport | $73 | $1,593 | $1,035 | $1,767 | | **Total Revenue** | **$9,392** | **$8,984** | **$26,783** | **$21,140** | - In March 2021, the company entered into a new credit agreement for a **$27.0 million facility**, consisting of a $22.0 million term loan and a $5.0 million revolver[75](index=75&type=chunk) The company drew **$12.0 million** from the term loan on March 26, 2021[78](index=78&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses revenue growth driven by core products, declining margins, and surging operating expenses [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Revenue growth was offset by a lower gross profit percentage and a significant increase in operating expenses Revenue by Product Category (Nine Months Ended Sep 30, in thousands) | Product Category | 2021 | 2020 | Change | | :--- | :--- | :--- | :--- | | Lab Essentials | $20,440 | $15,494 | +$4,946 | | Clinical Solutions | $4,354 | $3,141 | +$1,213 | | Sample Transport | $1,035 | $1,767 | -$732 | | **Total Revenue** | **$26,783** | **$21,140** | **+$5,643** | - The gross profit percentage for the nine months ended September 30, 2021, **decreased to 47.2% from 57.6%** in the prior year, primarily due to a **$0.7 million reserve** against Sample Transport inventory and increased manufacturing overhead and labor costs[157](index=157&type=chunk) Operating Expenses (Nine Months Ended Sep 30, in thousands) | Expense Category | 2021 | 2020 | Change | | :--- | :--- | :--- | :--- | | Research and development | $2,922 | $1,025 | +$1,897 | | Sales and marketing | $2,494 | $1,389 | +$1,105 | | General and administrative | $13,606 | $5,043 | +$8,563 | | **Total Operating Expenses** | **$19,883** | **$8,318** | **+$11,565** | [Non-GAAP Financial Measures](index=39&type=section&id=Non-GAAP%20Financial%20Measures) Adjusted EBITDA and Adjusted Free Cash Flow both turned negative due to operating losses and higher capital expenditures Reconciliation of Net (Loss) Income to Adjusted EBITDA (in thousands) | Metric | Q3 2021 | Q3 2020 | Nine Months 2021 | Nine Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Net (loss) income | $(3,251) | $1,533 | $(6,156) | $2,993 | | EBITDA | $(3,140) | $2,691 | $(5,143) | $5,314 | | **Adjusted EBITDA** | **$(2,698)** | **$2,722** | **$(4,216)** | **$5,345** | Adjusted Free Cash Flow (in thousands) | Metric | Q3 2021 | Q3 2020 | Nine Months 2021 | Nine Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Adjusted EBITDA | $(2,698) | $2,722 | $(4,216) | $5,345 | | Less: capital expenditures | $(3,907) | $(1,016) | $(12,465) | $(1,969) | | **Adjusted Free Cash Flow** | **$(6,605)** | **$1,706** | **$(16,681)** | **$3,376** | [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity was substantially improved by IPO proceeds, which will fund operations and a new facility - The company's primary sources of liquidity are cash from the IPO (**$99.1 million net proceeds**) and a credit facility[171](index=171&type=chunk) As of September 30, 2021, cash and cash equivalents were **$98.0 million**[171](index=171&type=chunk) - A significant use of cash over the next 12 to 18 months is expected to be the **construction of a new manufacturing facility** in Hollister, California[172](index=172&type=chunk)[180](index=180&type=chunk) - The company entered into a credit agreement in March 2021 for a **$27.0 million facility** and has drawn **$12.0 million** of the term loan[174](index=174&type=chunk)[177](index=177&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, this disclosure is not required - The company is a **smaller reporting company** and is not required to provide quantitative and qualitative disclosures about market risk[202](index=202&type=chunk) [Item 4. Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls were deemed ineffective due to a material weakness in accounting for complex transactions - Management concluded that **disclosure controls and procedures were not effective** as of September 30, 2021[204](index=204&type=chunk) - The ineffectiveness is due to a **material weakness** in the financial close and reporting process for complex, non-routine transactions, which led to an inappropriate accounting for the THP Transaction in 2019[205](index=205&type=chunk) - A remediation plan is underway, which includes **hiring accounting employees or consultants** with specific technical accounting experience[206](index=206&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently party to any material legal proceedings - As of the filing date, the company is **not a party to any material legal proceedings**[214](index=214&type=chunk) [Item 1A. Risk Factors](index=48&type=section&id=Item%201A.%20Risk%20Factors) Key risks include a history of losses, manufacturing challenges, reliance on trade secrets, and 'controlled company' status - The company has a history of operating losses, including a **net loss of $6.2 million** for the nine months ended September 30, 2021, and may incur losses in the future[216](index=216&type=chunk) - The company is a **"controlled company"** as THP controls approximately **62.5% of the voting power**, allowing it to control board elections and corporate decisions, and exempting the company from certain Nasdaq governance rules[354](index=354&type=chunk)[357](index=357&type=chunk) - A **material weakness in internal control** over financial reporting was identified related to the accounting for complex, non-routine transactions[366](index=366&type=chunk) - The company relies primarily on **trade secret protection** rather than patents, which is difficult to enforce and may not prevent competitors from developing similar technologies independently[320](index=320&type=chunk)[323](index=323&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=91&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered equity sales occurred, and the use of IPO proceeds remains consistent with the prospectus - There were **no unregistered sales of equity securities** in the period[408](index=408&type=chunk) - The planned use of IPO proceeds has **not materially changed** from what was disclosed in the Final Prospectus[409](index=409&type=chunk)

Q3 2021 Financial Results Nasdaq: TKNO November 10, 2021 TEKNOVA Today's Agenda 2 1. Welcome 2. Business Highlights & Updates — Stephen Gunstream, CEO, Teknova 3. Financial Results — Matt Lowell, CFO, Teknova 4. Q&A Forward-Looking Statements and Use of Non-GAAP Financial Measures This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this prospectus, including statements relating to our fi ...