Financial Performance - Full year 2024 total revenue was $37.7 million, representing a 3% increase year-over-year, and in line with guidance [1][7] - Fourth quarter 2024 total revenue was $9.3 million, up 18% compared to $7.9 million in the same quarter of the previous year [1][5] - Revenue from Lab Essentials for the full year 2024 was $28.9 million, largely unchanged from $28.8 million in 2023 [11] - Clinical Solutions revenue for the full year 2024 was $7.1 million, a 5% increase from $6.7 million in 2023 [11] Operational Highlights - The company achieved a 41% annual growth in the number of Clinical Solutions customers in 2024 [7] - Gross profit for the fourth quarter 2024 was $2.1 million, with a gross margin of 23.0%, compared to 17.0% in the fourth quarter 2023 [6][9] - Operating expenses for the fourth quarter 2024 were $7.8 million, down from $12.2 million in the fourth quarter 2023, primarily due to reduced headcount and spending [8] Cash Flow and Debt - Total cash and short-term investments at the end of fiscal year 2024 were $30.4 million, with gross debt of $12.1 million [7] - Free Cash Flow for the full year 2024 was negative $13.5 million, an improvement from negative $26.7 million in 2023 [15] - The company anticipates free cash outflow of less than $12 million for 2025 [16] Future Outlook - The company provides 2025 revenue guidance of $39 million to $42 million [1][16] - Management expressed confidence in long-term sustainable growth due to the diversity of their catalog and custom research reagents [2]
Teknova Reports Fourth Quarter and Full Year 2024 Financial Results