Teknova(US:TKNO)2025-05-08 20:36Financial Performance - Q1 2025 - Total revenue increased by 5% year-over-year, from $9.3 million in Q1 2024 to $9.8 million in Q1 2025[23] - Lab Essentials revenue increased by 12% compared to the same period last year[23] - Clinical Solutions revenue decreased by 32% compared to the same period last year[23] - Gross margin increased from 23.8% in Q1 2024 to 30.7% in Q1 2025[25] - Total Operating Expenses (OpEx) decreased from $10.2 million in Q1 2024 to $8.0 million in Q1 2025, or $8.9 million excluding non-recurring workforce reduction expenses[26] - Adjusted EBITDA improved from a loss of $3.8 million in Q1 2024 to a loss of $2.5 million in Q1 2025[28] - Free Cash Flow improved from a loss of $6.7 million in Q1 2024 to a loss of $4.3 million in Q1 2025[32] Revenue Breakdown - 2024 - Catalog products accounted for approximately 60% of total revenue in 2024[14] - Custom products accounted for approximately 35% of total revenue in 2024, with Biopharma representing 70% of Custom Revenue and 25% of Total Revenue[14, 15] - Other revenue, including services and shipping, accounted for approximately 5% of total revenue in 2024[14] 2025 Outlook - The company estimates total revenue between $39 million and $42 million, representing a 7% year-over-year growth at the midpoint[44] - The company is targeting a free cash outflow of less than $12 million for 2025[44] - The company estimates an annualized revenue range of $50 million to $55 million to achieve Adjusted EBITDA break-even[44]