Second quarter 2026 total revenue was $12.2 million, up 18% over the same quarter prior year
Company raises 2026 revenue guidance to $45-47 million
Launched proprietary AI-powered Build-Tek$(TM)$ custom order configurator, giving developers a faster path from preclinical to clinical manufacturing
HOLLISTER, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Alpha Teknova, Inc. ("Teknova" or the "Company") (Nasdaq: TKNO), a leading producer of critical reagents for the discovery, development, and commercialization of novel therapies, vaccines, and molecular diagnostics, today announced financial results for the second quarter ended June 30, 2026.
"We delivered more than $12 million in quarterly revenue for the first time in Teknova's history, with growth across nearly all of the end markets we serve," said Stephen Gunstream, President and Chief Executive Officer at Teknova. "These results demonstrate the impact of the investments we've made in our commercial organization, state-of-the-art facilities, and manufacturing systems, and strengthen our confidence in our ability to deliver long-term, sustainable growth as the biotech market continues to recover."
Matt Lowell, Teknova's Chief Financial Officer, added, "We delivered excellent financial results in the second quarter 2026 compared to 2025, including 18% revenue growth and a significant improvement in Free Cash Outflow. We are therefore raising our 2026 revenue guidance to $45-47 million and adjusting down our expectations for full-year Free Cash Outflow to less than $8 million," he explained.
Corporate and Financial Updates
-- Second quarter 2026 total revenue of $12.2 million, up 18% compared to
$10.3 million for the second quarter 2025
-- Total cash and short-term investments were $17.4 million and total
borrowings were $13.2 million at the end of the second quarter 2026
-- Following a second quarter beta release, the Company launched
Build-Tek(TM), the AI-powered evolution of its proprietary custom
configurator first introduced in 2024, now enabling therapeutic and
diagnostic developers to build complex custom products in just minutes
Revenue for the Second Quarter 2026
For the Three Months For the Six Months
Ended June 30, Ended June 30,
-------------------- ---------------------
(Dollars in thousands) 2026 2025 2026 2025
---------- -------- ----------- --------
Lab Essentials $ 9,184 $ 7,792 $ 17,579 $ 15,909
Clinical Solutions 2,428 2,060 4,573 3,222
Other 573 435 1,110 951
------ ------- ------- -------
Total revenue $ 12,185 $ 10,287 $ 23,262 $ 20,082
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Second Quarter 2026 Financial Results
Total revenue for the second quarter 2026 was $12.2 million, up 18% compared to $10.3 million in the second quarter 2025. Lab Essentials revenue was $9.2 million in the second quarter 2026, up 18% compared to $7.8 million in the second quarter 2025. Clinical Solutions revenue was $2.4 million in the second quarter 2026, up 18% compared to $2.1 million in the second quarter 2025.
Gross profit for the second quarter 2026 was $4.9 million, compared to $4.0 million in the second quarter 2025. Gross margin for the second quarter 2026 was 40.1%, compared to 38.7% in the second quarter 2025. The increase in gross margin was primarily driven by higher revenue, partially offset by higher fixed cost absorption into cost of goods sold from faster finished goods inventory turns. This compares to the same period in the prior year that had benefited from unusually favorable manufacturing efficiency gains.
Operating expenses for the second quarter 2026 were $7.8 million, compared to $7.4 million in the second quarter 2025. The increase was primarily driven by higher spending in sales and marketing, a result of higher headcount and increased marketing expenses, partially offset by lower general and administrative expenses attributable to lower stock-based compensation expense.
Net loss for the second quarter 2026 was $3.2 million, or negative $0.06 per diluted share, compared to $3.6 million, or negative $0.07 per diluted share, for the second quarter 2025. Adjusted EBITDA for the second quarter 2026 was negative $0.7 million, compared to negative $0.8 million for the second quarter 2025.
Cash used in operating activities for the second quarter 2026 was $0.5 million, compared to $2.1 million of cash used in operating activities for the second quarter 2025. Free Cash Outflow was $0.6 million for the second quarter 2026, compared to $2.3 million for the second quarter 2025.
A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release.
Improves 2026 Outlook
Teknova raises its fiscal 2026 outlook for revenue and improves its outlook for Free Cash Outflow. The Company now anticipates total revenue of $45 million to $47 million for the fiscal year ending December 31, 2026 ("2026"). The Company also now expects Free Cash Outflow of less than $8 million for 2026.
Upcoming Investor Conference Attendance
Sidoti Microcap Conference (Virtual)
August 19-20, 2026
ROTH Healthcare Opportunities Conference (New York, NY)
September 29, 2026
Conference Call and Webcast
Teknova will host a webcast and conference call on Wednesday, August 5, 2026, beginning at 6:00 p.m. Eastern Time. To access the live webcast, listeners can log onto the call from the Investor Relations section of the Teknova website or by using this link. If you would like to participate in the call, please register for the webcast here to receive a unique PIN number and dial-in information. The webcast will be available for replay on the Company's website approximately two hours after the event.
About Teknova
Teknova makes solutions possible. Since 1996, Teknova has been innovating the manufacture of critical reagents for the life sciences industry to accelerate the discovery and development of novel breakthroughs that will help people live longer, healthier lives. We offer fully customizable solutions for every stage of the workflow, supporting industry leaders in genomics, molecular diagnostics, and emerging therapeutic modalities. Our fast turnaround of high-quality agar plates, microbial culture and cryopreservation media, buffers and reagents, and water helps our customers scale seamlessly from RUO to GMP. Headquartered in Hollister, California, with over 180,000 square feet of state-of-the-art facilities, Teknova's modular manufacturing platform was designed by our team of scientists, engineers, and quality control experts to efficiently produce the foundational ingredients for the discovery and commercialization of next-generation therapies.
Non-GAAP Financial Measures
This press release contains financial measures that have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP). Teknova uses the following non-GAAP financial measures in assessing the performance of its business and the effectiveness of its business strategies: (a) Adjusted EBITDA and (b) Free Cash Flow (Outflow).
Teknova defines Adjusted EBITDA as net income (loss) adjusted for interest income (expense), net, provision for (benefit from) income taxes, depreciation expense, amortization of intangible assets, and stock-based compensation expense. Adjusted EBITDA reflects further adjustments to eliminate the impact of certain items, including certain non-cash and other items that Teknova does not consider representative of its ongoing operating performance.
Teknova defines Free Cash Flow (Outflow) as cash provided by (used in) operating activities less purchases of property, plant, and equipment.
Teknova provides Adjusted EBITDA and Free Cash Flow (Outflow) in this press release because Teknova believes that analysts, investors, and other interested parties frequently use these measures to evaluate companies in Teknova's industry and that such measures facilitate comparisons on a consistent basis across reporting periods. Teknova also believes such measures are helpful in highlighting trends in Teknova's operating results because they exclude items that are not indicative of Teknova's core operating performance. Investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures presented by Teknova may be different from the non-GAAP financial measures used by other companies.
A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release.
Forward-Looking Statements
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