Teknova(US:TKNO)2021-08-12 20:46Financial Performance - Q2 2021 total revenue reached $8.3 million, a 41% increase compared to Q2 2020 when excluding Sample Transport revenue[11, 14] - Lab Essentials revenue increased by 46% year-over-year[15] - Clinical Solutions revenue increased by 32% year-over-year[15] - Q2 2021 gross margin was 57.4%, or 48.7% excluding a one-time inventory reserve, compared to 40.4% in Q2 2020[17] - Q2 2021 adjusted EBITDA was -$1.5 million, compared to $1.2 million in Q2 2020[17] - Q2 2021 diluted EPS was -$0.52, compared to $0.02 in Q2 2020[18] Cash Flow and Balance Sheet - The company's cash balance as of June 30, 2021, was $108.0 million[23] - Q2 2021 adjusted free cash flow was -$6.2 million, compared to $0.6 million in Q2 2020[23] Strategic Initiatives - The company completed its initial public offering, raising $99.1 million in proceeds[11] - Construction began on a new GMP manufacturing facility in Hollister, CA, expected to increase production capacity by five-fold when operational at the end of 2022[11]