Teknova Reports First Quarter 2026 Financial Results
Rhea-AI Summary
Teknova (Nasdaq: TKNO) reported Q1 2026 revenue of $11.1 million, up 13% year-over-year, driven by Clinical Solutions growth. Gross profit was $3.8 million and gross margin rose to 34.2%. Net loss was $4.6 million (negative $0.08 per diluted share). Adjusted EBITDA improved to negative $2.0 million. Cash and short-term investments were $17.8 million with total borrowings of $13.2 million. The company reaffirmed 2026 revenue guidance of $42–44 million and expects full-year Free Cash Outflow of less than $10 million.
Positive
- Total revenue +13% year-over-year to $11.1 million
- Clinical Solutions revenue +85% year-over-year to $2.1 million
- Gross margin improved to 34.2% (from 30.7%)
- Adjusted EBITDA improved from negative $2.5M to negative $2.0M
- Cash and short-term investments of $17.8 million
Negative
- Net loss unchanged at $4.6 million in Q1 2026
- Operating expenses remained high at $8.1 million
- Free Cash Outflow of $3.6 million in Q1 2026
- Total borrowings of $13.2 million on the balance sheet
Key Figures
Market Reality Check
Peers on Argus
TKNO is up 4.18% while peers show mixed moves: ACB and IRWD are modestly positive, OGI is flat, and SXTC is down 5.79%, pointing to a company-specific reaction.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 26 | Quarterly earnings | Positive | +13.2% | Reported 2025 revenue growth, margin expansion, and introduced 2026 guidance. |
| Nov 06 | Quarterly earnings | Positive | -2.1% | Q3 2025 revenue growth with improved gross margin and narrowed losses. |
| Aug 07 | Quarterly earnings | Positive | -2.5% | Q2 2025 revenue increase, margin gains, and reaffirmed 2025 guidance. |
| May 08 | Quarterly earnings | Positive | +9.3% | Q1 2025 revenue growth, margin improvement, and maintained 2025 outlook. |
| Mar 04 | Quarterly earnings | Positive | -1.2% | FY 2024 revenue growth, strong Q4 increase, and reduced cash burn. |
Across the last five earnings releases, TKNO saw positive reactions twice and negative reactions three times, indicating historically mixed price responses to fundamentally positive updates.
Over the last year, Teknova’s earnings releases have highlighted steady revenue growth and improving margins. Events on Mar 04, 2025, May 08, 2025, Aug 07, 2025, Nov 06, 2025, and Feb 26, 2026 all reported higher revenue and better gross margins, with reiterated guidance in several quarters. Price reactions have varied, with some strong gains and several modest pullbacks, so today’s reaffirmed $42–44M 2026 guidance fits this ongoing improvement narrative.
Historical Comparison
Past earnings releases moved TKNO by an average of 3.33%. Today’s 4.18% gain sits modestly above that typical reaction range.
Earnings updates have shown a consistent pattern of revenue growth, improving gross margins, and narrowing losses from FY2024 through FY2025, with 2026 guidance repeatedly framed around mid‑single‑digit million cash outflows.
Regulatory & Risk Context
The company has an active S-3 shelf registration filed on Jul 10, 2025, expiring on Jul 10, 2028, with no recorded usage to date. The shelf is currently noted as not effective, and no prospectus supplements have been filed under it.
Market Pulse Summary
This announcement reports Q1 2026 revenue of $11.1M, up 13% year over year, with gross margin improving to 34.2% and Free Cash Outflow narrowing to $3.6M. Management reaffirmed 2026 revenue guidance of $42–44M and expects full-year Free Cash Outflow of less than $10M. Historically, Teknova’s earnings have highlighted steady growth and margin gains, but the company remains loss-making, so investors may watch cash balances of $17.8M and borrowings of $13.2M alongside future results.
Key Terms
adjusted ebitda financial
free cash outflow financial
gross margin financial
operating expenses financial
non-gaap financial
AI-generated analysis. Not financial advice.
First quarter 2026 total revenue was
Company reaffirms 2026 revenue guidance of
HOLLISTER, Calif., May 06, 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 first quarter ended March 31, 2026.
“We had a great start to 2026,” said Stephen Gunstream, President and Chief Executive Officer at Teknova. “The substantial investments we’ve made since 2021, combined with an improved market backdrop, position Teknova for sustainable above-market growth over the next couple years, particularly as our Clinical Solutions customers advance their therapies and diagnostics towards commercialization.”
Matt Lowell, Teknova’s Chief Financial Officer, added, “We delivered strong financial results in the first quarter 2026 compared to 2025, including
Corporate and Financial Updates
- First quarter 2026 total revenue of
$11.1 million , up13% compared to$9.8 million for the first quarter 2025 - Total cash and short-term investments were
$17.8 million and total borrowings were$13.2 million at the end of the first quarter 2026
Revenue for the First Quarter 2026
| For the Three Months Ended March 31, | ||||||||
| (Dollars in thousands) | 2026 | 2025 | ||||||
| Lab Essentials | $ | 8,395 | $ | 8,117 | ||||
| Clinical Solutions | 2,145 | 1,162 | ||||||
| Other | 537 | 516 | ||||||
| Total revenue | $ | 11,077 | $ | 9,795 | ||||
First Quarter 2026 Financial Results
Total revenue for the first quarter 2026 was
Gross profit for the first quarter 2026 was
Operating expenses for the first quarter 2026 were
Net loss for the first quarter 2026 was
Cash used in operating activities for the first quarter 2026 was
A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release.
Reaffirms 2026 Outlook
Teknova reaffirms its fiscal 2026 outlook for revenue and Free Cash Outflow. The Company continues to anticipate total revenue of
Upcoming Investor Conference Attendance
Craig-Hallum Institutional Investor Conference (Minneapolis, MN)
Thursday, May 28, 2026
William Blair Growth Stock Conference (Chicago, IL)
Thursday, June 4, 2026
Conference Call and Webcast
Teknova will host a webcast and conference call on Wednesday, May 6, 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
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” These statements include, but are not limited to, statements relating to Teknova’s anticipated total revenue, including our expectations for 2026 revenue and Free Cash Outflow guidance, and other statements about Teknova’s business prospects, including about Teknova’s profitability, strategy of managing operating expenses, and long-term growth strategy. The words, without limitation, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. These forward-looking statements are based on management’s current expectations and beliefs and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond Teknova’s control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, demand for Teknova’s products (including the potential delay to or pausing of customer orders); Teknova’s assessment of fundamental indicators of future demand across its target customer base; Teknova’s cash flows and revenue growth rate; Teknova’s supply chain, sourcing, manufacturing, and warehousing; inventory management; risks related to global economic and marketplace uncertainties, including those related to the conflicts in Ukraine and the Middle East; potential acquisitions and integration of other companies; and other factors discussed in the “Risk Factors” section of Teknova’s most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), including in Teknova’s Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent Quarterly Reports on Form 10-Q filed with the SEC, all of which you may obtain for free on the SEC’s website at www.sec.gov. Although Teknova believes that the expectations reflected in its forward-looking statements are reasonable, Teknova does not know whether its expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which Teknova makes only as of the date hereof, even if they are repeated by Teknova subsequently. Teknova does not intend and shall have no obligation to update, amend, or clarify these forward-looking statements, except as may be required under applicable securities laws.
Investor Contact
Matt Lowell
Chief Financial Officer
matt.lowell@teknova.com
+1 831-637-1100
Media Contact
Jennifer Henry
Senior Vice President, Marketing
jenn.henry@teknova.com
+1 831-313-1259
| ALPHA TEKNOVA, INC. Condensed Statements of Operations (Unaudited) (In thousands, except share and per share data) | ||||||||
| For the Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Revenue | $ | 11,077 | $ | 9,795 | ||||
| Cost of sales | 7,293 | 6,788 | ||||||
| Gross profit | 3,784 | 3,007 | ||||||
| Operating expenses: | ||||||||
| Research and development | 609 | 552 | ||||||
| Sales and marketing | 2,128 | 1,640 | ||||||
| General and administrative | 5,058 | 5,492 | ||||||
| Amortization of intangible assets | 287 | 287 | ||||||
| Total operating expenses | 8,082 | 7,971 | ||||||
| Loss from operations | (4,298 | ) | (4,964 | ) | ||||
| Other (expenses) income, net | ||||||||
| Interest expense, net | (219 | ) | (144 | ) | ||||
| Other adjustment to loan exit fee | — | 485 | ||||||
| Other income | 9 | — | ||||||
| Total other (expenses) income, net | (210 | ) | 341 | |||||
| Loss before income taxes | (4,508 | ) | (4,623 | ) | ||||
| Provision for income taxes | 47 | 22 | ||||||
| Net loss | $ | (4,555 | ) | $ | (4,645 | ) | ||
| Net loss per share—basic and diluted | $ | (0.08 | ) | $ | (0.09 | ) | ||
| Weighted average shares used in computing net loss per share—basic and diluted | 53,606,278 | 53,421,533 | ||||||
| ALPHA TEKNOVA, INC. Condensed Balance Sheets (Unaudited) (In thousands) | ||||||||
| As of March 31, | As of December 31, | |||||||
| 2026 | 2025 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 4,306 | $ | 5,912 | ||||
| Short-term investments, held -to-maturity | 13,478 | 15,426 | ||||||
| Accounts receivable, net | 5,672 | 4,618 | ||||||
| Inventories, net | 6,874 | 7,054 | ||||||
| Prepaid expenses and other current assets | 1,344 | 1,501 | ||||||
| Total current assets | 31,674 | 34,511 | ||||||
| Property, plant, and equipment, net | 40,524 | 41,733 | ||||||
| Operating right-of-use lease assets | 13,608 | 14,112 | ||||||
| Intangible assets, net | 11,656 | 11,943 | ||||||
| Other non-current assets | 1,195 | 1,285 | ||||||
| Total assets | $ | 98,657 | $ | 103,584 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 1,618 | $ | 1,378 | ||||
| Accrued liabilities | 3,363 | 4,283 | ||||||
| Current portion of operating lease liabilities | 1,915 | 1,876 | ||||||
| Total current liabilities | 6,896 | 7,537 | ||||||
| Deferred tax liabilities | 925 | 879 | ||||||
| Long-term debt, net | 13,170 | 13,123 | ||||||
| Long-term operating lease liabilities | 12,742 | 13,270 | ||||||
| Total liabilities | 33,733 | 34,809 | ||||||
| Stockholders’ equity: | ||||||||
| Preferred stock | — | — | ||||||
| Common stock | 1 | 1 | ||||||
| Additional paid-in capital | 205,268 | 204,564 | ||||||
| Accumulated deficit | (140,345 | ) | (135,790 | ) | ||||
| Total stockholders’ equity | 64,924 | 68,775 | ||||||
| Total liabilities and stockholders’ equity | $ | 98,657 | $ | 103,584 | ||||
| ALPHA TEKNOVA, INC. Condensed Statements of Cash Flows (Unaudited) (In thousands) | ||||||||
| For the Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Operating activities: | ||||||||
| Net loss | $ | (4,555 | ) | $ | (4,645 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Bad debt expense | 7 | 45 | ||||||
| Inventory reserve | 413 | 437 | ||||||
| Depreciation and amortization | 1,576 | 1,580 | ||||||
| Stock-based compensation | 695 | 852 | ||||||
| Deferred taxes | 46 | 21 | ||||||
| Accrued interest income on short-term investments | (27 | ) | (54 | ) | ||||
| Amortization of discount on short-term investments | (87 | ) | (184 | ) | ||||
| Amortization of debt financing costs | 47 | 86 | ||||||
| Other adjustment to loan exit fee | — | (485 | ) | |||||
| Non-cash lease expense | 15 | 30 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | (1,061 | ) | (1,349 | ) | ||||
| Inventories | (233 | ) | (209 | ) | ||||
| Prepaid expenses and other current assets | 157 | (4 | ) | |||||
| Other non-current assets | 90 | 63 | ||||||
| Accounts payable | 330 | 740 | ||||||
| Accrued liabilities | (772 | ) | (1,017 | ) | ||||
| Other | — | (10 | ) | |||||
| Cash used in operating activities | (3,359 | ) | (4,103 | ) | ||||
| Investing activities: | ||||||||
| Purchases of short-term investments | (3,938 | ) | (1,970 | ) | ||||
| Maturities of short-term investments | 6,000 | 6,000 | ||||||
| Purchases of property, plant, and equipment | (221 | ) | (206 | ) | ||||
| Cash provided by investing activities | 1,841 | 3,824 | ||||||
| Financing activities: | ||||||||
| Proceeds from long-term debt | — | 1,110 | ||||||
| Payment of exit fee costs | — | (1,110 | ) | |||||
| Repayment of financed insurance premiums | (97 | ) | (56 | ) | ||||
| Proceeds from exercise of stock options | 9 | 4 | ||||||
| Cash used in financing activities | (88 | ) | (52 | ) | ||||
| Change in cash and cash equivalents | (1,606 | ) | (331 | ) | ||||
| Cash and cash equivalents at beginning of period | 5,912 | 3,708 | ||||||
| Cash and cash equivalents at end of period | $ | 4,306 | $ | 3,377 | ||||
| ALPHA TEKNOVA, INC. Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (Unaudited) (In thousands) | ||||||||
| For the Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Net loss – as reported | $ | (4,555 | ) | $ | (4,645 | ) | ||
| Add back: | ||||||||
| Interest expense, net | (219 | ) | (144 | ) | ||||
| Provision for income taxes | 47 | 22 | ||||||
| Depreciation expense | 1,289 | 1,293 | ||||||
| Amortization of intangible assets | 287 | 287 | ||||||
| EBITDA | $ | (2,713 | ) | $ | (2,899 | ) | ||
| Other and non-recurring expenses: | ||||||||
| Stock-based compensation expense | 695 | 852 | ||||||
| Other adjustment to loan exit fee | — | (485 | ) | |||||
| Adjusted EBITDA | $ | (2,018 | ) | $ | (2,532 | ) | ||
| For the Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Cash used in operating activities | $ | (3,359 | ) | $ | (4,103 | ) | ||
| Purchases of property, plant, and equipment | (221 | ) | (206 | ) | ||||
| Free Cash Flow | $ | (3,580 | ) | $ | (4,309 | ) | ||
