Teknova(US:TKNO)2025-11-06 21:08Revenue Performance - Total revenue for Q3 2025 was $10.5 million, representing a 9% increase from $9.6 million in Q3 2024[5] - Lab Essentials revenue reached $8.3 million in Q3 2025, up 16% from $7.2 million in Q3 2024[5] - Clinical Solutions revenue was $1.7 million in Q3 2025, down 13% from $2.0 million in Q3 2024[5] Profitability and Loss - Gross profit for Q3 2025 was $3.2 million, with a gross margin of 30.7%, compared to $0.1 million and 0.9% in Q3 2024[6] - Net loss for Q3 2025 was $4.3 million, or negative $0.08 per diluted share, compared to a net loss of $7.6 million, or negative $0.15 per diluted share, in Q3 2024[7] - Adjusted EBITDA for Q3 2025 was negative $1.6 million, an improvement from negative $5.0 million in Q3 2024[8] Cash Flow and Expenses - Operating expenses decreased to $7.2 million in Q3 2025 from $7.5 million in Q3 2024[7] - Free Cash Outflow remained the same at $2.4 million for both Q3 2025 and Q3 2024[8] - Cash used in operating activities for the nine months ended September 30, 2025, was $8,184 million, compared to $11,455 million for the same period in 2024, reflecting a decrease of 28.5%[27] - Free Cash Flow for the nine months ended September 30, 2025, was $(8,984) million, compared to $(12,013) million for the same period in 2024, reflecting an improvement of 25.2%[27] Guidance and Future Outlook - The company reaffirms its 2025 revenue guidance of $39-42 million and anticipates Free Cash Outflow of less than $12 million[9] Balance Sheet and Assets - Total cash and short-term investments were $22.1 million, with total borrowings of $13.2 million at the end of Q3 2025[4] - As of September 30, 2025, total assets decreased to $107,625 million from $118,769 million as of December 31, 2024, representing a decline of approximately 9.5%[24] - Total current liabilities decreased to $6,936 million as of September 30, 2025, from $11,211 million as of December 31, 2024, a reduction of 38.5%[24] - The company had total stockholders' equity of $72,650 million as of September 30, 2025, down from $82,394 million as of December 31, 2024, a decrease of 11.8%[24] Depreciation and Inventory - The company reported a depreciation and amortization expense of $1,591 million for the three months ended September 30, 2025, compared to $1,671 million for the same period in 2024, a decrease of 4.8%[26] - Inventory reserve increased to $732 million for the three months ended September 30, 2025, from $3,339 million in the same period of 2024, indicating a significant reduction in inventory write-downs[26] Improvement in Losses - The net loss for the three months ended September 30, 2025, was $4,286 million, an improvement from a net loss of $7,565 million for the same period in 2024, indicating a reduction of 43.1%[26] - Adjusted EBITDA for the three months ended September 30, 2025, was $(1,576) million, compared to $(5,001) million for the same period in 2024, showing an improvement of 68.5%[27] - Cash and cash equivalents at the end of the period were $3,204 million, down from $6,145 million at the end of the previous year, a decline of 47.9%[26]