Teknova Reports Fourth Quarter and Full Year 2025 Financial Results
Rhea-AI Summary
Teknova (Nasdaq: TKNO) reported full year 2025 revenue of $40.5M, up 7% year-over-year, and Q4 2025 revenue of $10.0M, up 8% year-over-year. The company provided 2026 revenue guidance of $42–44M and expects Free Cash Outflow of less than $10M for 2026.
Gross margin improved to 33.2% for 2025; Adjusted EBITDA loss narrowed to -$6.7M. Cash and short-term investments were $21.3M with gross debt of $13.2M at year-end.
Positive
- Revenue +7% YoY to $40.5M
- Q4 revenue +8% YoY to $10.0M
- Gross margin improved to 33.2% in 2025
- Adjusted EBITDA improved to negative $6.7M
- Cash & short-term investments of $21.3M at year-end
- Clinical Solutions customers +25% annual growth
Negative
- Net loss of $17.3M for 2025
- Free Cash Flow negative $9.8M in 2025
- Operating expenses still high at $30.4M
- Gross debt of $13.2M on the balance sheet
Key Figures
Market Reality Check
Peers on Argus
Peers show a mixed picture with modest moves: ACB up 0.52%, LFCR up 0.55%, while SXTC and IRWD are down. No clear, coordinated sector move is evident around this earnings release.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 06 | Q3 2025 earnings | Positive | -2.1% | Q3 2025 revenue growth, margin gains, narrowed loss, guidance reaffirmed. |
| Aug 07 | Q2 2025 earnings | Positive | -2.5% | Q2 revenue up 7%, stronger margins, improved net loss and guidance held. |
| May 08 | Q1 2025 earnings | Positive | +9.3% | Q1 revenue growth, margin expansion, smaller loss and new collaboration. |
| Mar 04 | FY 2024 results | Positive | -1.2% | FY2024 revenue growth, improved cash burn and FY2025 guidance issued. |
| Nov 07 | Q3 2024 earnings | Positive | +3.9% | Strong Q3 2024 growth, better outlook for free cash outflow and margins. |
Earnings releases have generally been positive fundamentally, but share price reactions have often been muted or negative, with more divergences than alignments.
Over the past year, Teknova’s earnings reports have highlighted consistent revenue growth, improving gross margins, and narrowing net losses. Quarterly revenue increased from $9.6M in Q3 2024 to $10.5M in Q3 2025, while FY2024 revenue reached $37.7M. Management repeatedly reaffirmed revenue and cash outflow guidance as margins improved from inventory clean‑up and manufacturing efficiencies. The current FY2025/Q4 2025 results continue this trajectory with $40.5M in revenue and better profitability metrics, fitting into a steady operational improvement story.
Historical Comparison
Across the last 5 earnings releases, TKNO’s average one-day move was about 1.48%, indicating historically modest price sensitivity to financial updates.
Earnings updates from Q3 2024 through Q3 2025 show steady revenue growth, margin recovery after inventory charges, and narrowing losses, with management consistently reaffirming revenue and cash outflow guidance.
Regulatory & Risk Context
The company has an active S-3 shelf registration filed on 2025-07-10, which is currently noted as not effective and with no recorded usage. This structure can facilitate future capital raises once effective, subject to market conditions and company decisions.
Market Pulse Summary
This announcement details FY2025 revenue of $40.5 million with improved gross margin of 33.2% and narrowing losses, alongside 2026 revenue guidance of $42–44 million. Historically, earnings updates have shown consistent operational progress but mixed share-price reactions. Key factors to monitor include the pace toward Adjusted EBITDA breakeven by 2027, Free Cash Flow trends from the ‑$9.8 million level, debt of $13.2 million, and how management uses its active S-3 shelf registration, if and when it becomes effective.
Key Terms
adjusted ebitda financial
free cash outflow financial
free cash flow financial
gross margin financial
non-gaap financial
AI-generated analysis. Not financial advice.
Full year 2025 total revenue was
Fourth quarter 2025 total revenue was
Company provides 2026 revenue guidance of
HOLLISTER, Calif., Feb. 26, 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 fourth quarter and full year ended December 31, 2025.
“After another successful year of disciplined execution against our strategic objectives, we’ve decided to further invest in our commercial capabilities this year,” said Stephen Gunstream, President and Chief Executive Officer at Teknova. He continued, “As we begin to realize the benefits of the substantial capital investments we’ve made in recent years, and amid signs that the biotech funding environment is likely to continue to improve, we believe that additional and targeted commercial efforts should enable us to become Adjusted EBITDA positive by the end of 2027.”
Matt Lowell, Teknova’s Chief Financial Officer, added, “We delivered strong financial results in 2025 compared to 2024, including an acceleration of top line growth and continued significant improvement in Adjusted EBITDA and Free Cash Outflow. Based on our revenue guidance of
Corporate and Financial Updates
- Achieved full year 2025 total revenue of
$40.5 million , up7% as compared to$37.7 million for the full year 2024, and fourth quarter 2025 total revenue of$10.0 million , up8% compared to$9.3 million for the fourth quarter 2024 - Achieved
25% annual growth in the number of Clinical Solutions customers in 2025 - Total cash and short-term investments were
$21.3 million and gross debt was$13.2 million at the end of the fiscal year 2025 - Cash used in operating activities for the full year 2025 was
$8.6 million , compared to$12.4 million of cash used in operating activities for the full year 2024 - Free Cash Flow for the full year 2025 was negative
$9.8 million , down significantly from negative$13.5 million in 2024 and significantly below the previously communicated target of less than negative$12 million for 2025
Revenue for the Fourth Quarter and Full Year 2025
| For the Three Months Ended December 31, | For the Twelve Months Ended December 31, | ||||||||||||||
| (Dollars in thousands) | 2025 | 2024 | 2025 | 2024 | |||||||||||
| Lab Essentials | $ | 6,827 | $ | 6,818 | $ | 31,044 | $ | 28,883 | |||||||
| Clinical Solutions | 2,722 | 1,850 | 7,650 | 7,097 | |||||||||||
| Other | 435 | 597 | 1,826 | 1,765 | |||||||||||
| Total revenue | $ | 9,984 | $ | 9,265 | $ | 40,520 | $ | 37,745 | |||||||
Fourth Quarter 2025 Financial Results
Total revenue for the fourth quarter 2025 was
Gross profit for the fourth quarter 2025 was
Operating expenses for the fourth quarter 2025 were
Net loss for the fourth quarter 2025 was
Cash used in operating activities for the fourth quarter 2025 was
A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release.
Full Year 2025 Financial Results
Total revenue was
Gross profit for 2025 was
Operating expenses for 2025 were
Net loss for 2025 was
Cash used in operating activities for 2025 was
A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release.
2026 Outlook
Teknova anticipates total revenue of
Upcoming Investor Conference Attendance
TD Cowen 46th Annual Health Care Conference (Boston, MA)
Wednesday, March 4, 2026 at 11:50 a.m. ET
KeyBanc Capital Markets Healthcare Forum (Virtual)
Wednesday, March 18, 2026 at 11:15 a.m. ET
Sidoti Small Cap Conference (Virtual)
Thursday, March 19, 2026 at 1:00 p.m. ET
38th Annual Roth Conference (Laguna Niguel, CA)
Monday, March 23, 2026 (Time TBD)
Conference Call and Webcast
Teknova will host a webcast and conference call on Thursday, February 26, 2026, beginning at 5:30 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, the fact that the Company’s fourth quarter and year-end financial closing procedures, annual accounting procedures and adjustments, and annual audit of its financial statements are not yet complete; 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, 2024, 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 December 31, | For the Twelve Months Ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenue | $ | 9,984 | $ | 9,265 | $ | 40,520 | $ | 37,745 | |||||||
| Cost of sales | 6,740 | 7,137 | 27,079 | 30,514 | |||||||||||
| Gross profit | 3,244 | 2,128 | 13,441 | 7,231 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 522 | 594 | 2,197 | 2,759 | |||||||||||
| Sales and marketing | 1,794 | 1,557 | 6,754 | 6,320 | |||||||||||
| General and administrative | 5,250 | 5,318 | 20,318 | 23,150 | |||||||||||
| Amortization of intangible assets | 287 | 287 | 1,148 | 1,148 | |||||||||||
| Total operating expenses | 7,853 | 7,756 | 30,417 | 33,377 | |||||||||||
| Loss from operations | (4,609 | ) | (5,628 | ) | (16,976 | ) | (26,146 | ) | |||||||
| Other expenses, net | |||||||||||||||
| Interest expense, net | (211 | ) | (129 | ) | (710 | ) | (687 | ) | |||||||
| Other adjustment to loan exit fee | — | — | 485 | — | |||||||||||
| Total other expenses, net | (211 | ) | (129 | ) | (225 | ) | (687 | ) | |||||||
| Loss before income taxes | (4,820 | ) | (5,757 | ) | (17,201 | ) | (26,833 | ) | |||||||
| Provision for (benefit from) income taxes | (62 | ) | (38 | ) | 58 | (88 | ) | ||||||||
| Net loss | $ | (4,758 | ) | $ | (5,719 | ) | $ | (17,259 | ) | $ | (26,745 | ) | |||
| Net loss per share—basic and diluted | $ | (0.09 | ) | $ | (0.11 | ) | $ | (0.32 | ) | $ | (0.57 | ) | |||
| Weighted average shares used in computing net loss per share—basic and diluted | 53,543,334 | 53,374,839 | 53,483,075 | 46,745,905 | |||||||||||
| ALPHA TEKNOVA, INC. Condensed Balance Sheets (Unaudited) (In thousands) | |||||||
| As of December 31, | As of December 31, | ||||||
| 2025 | 2024 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 5,912 | $ | 3,708 | |||
| Short-term investments, held -to-maturity | 15,426 | 26,688 | |||||
| Accounts receivable, net | 4,618 | 4,312 | |||||
| Inventories, net | 7,054 | 6,801 | |||||
| Prepaid expenses and other current assets | 1,501 | 1,267 | |||||
| Total current assets | 34,511 | 42,776 | |||||
| Property, plant, and equipment, net | 41,733 | 45,753 | |||||
| Operating right-of-use lease assets | 14,112 | 15,767 | |||||
| Intangible assets, net | 11,943 | 13,091 | |||||
| Other non-current assets | 1,285 | 1,382 | |||||
| Total assets | $ | 103,584 | $ | 118,769 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 1,378 | $ | 825 | |||
| Accrued liabilities | 4,283 | 4,541 | |||||
| Current portion of operating lease liabilities | 1,876 | 1,800 | |||||
| Current portion of long-term debt | — | 4,045 | |||||
| Total current liabilities | 7,537 | 11,211 | |||||
| Deferred tax liabilities | 879 | 827 | |||||
| Other accrued liabilities | — | 10 | |||||
| Long-term debt, net | 13,123 | 9,443 | |||||
| Long-term operating lease liabilities | 13,270 | 14,884 | |||||
| Total liabilities | 34,809 | 36,375 | |||||
| Stockholders’ equity: | |||||||
| Preferred stock | — | — | |||||
| Common stock | 1 | 1 | |||||
| Additional paid-in capital | 204,564 | 200,924 | |||||
| Accumulated deficit | (135,790 | ) | (118,531 | ) | |||
| Total stockholders’ equity | 68,775 | 82,394 | |||||
| Total liabilities and stockholders’ equity | $ | 103,584 | $ | 118,769 | |||
| ALPHA TEKNOVA, INC. Condensed Statements of Cash Flows (Unaudited) (In thousands) | ||||||||||||||||
| For the Three Months Ended December 31, | For the Twelve Months Ended December 31, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Operating activities: | ||||||||||||||||
| Net loss | $ | (4,758 | ) | $ | (5,719 | ) | $ | (17,259 | ) | $ | (26,745 | ) | ||||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||||||||
| Bad debt expense | (3 | ) | 69 | 68 | 130 | |||||||||||
| Inventory reserve | 458 | 314 | 2,115 | 4,549 | ||||||||||||
| Depreciation and amortization | 1,581 | 1,645 | 6,342 | 6,578 | ||||||||||||
| Stock-based compensation | 777 | 766 | 3,429 | 3,666 | ||||||||||||
| Deferred taxes | (67 | ) | (40 | ) | 52 | (92 | ) | |||||||||
| Accrued interest income on short-term investments | 37 | 49 | 29 | (69 | ) | |||||||||||
| Amortization of discount on short-term investments | (106 | ) | (344 | ) | (614 | ) | (344 | ) | ||||||||
| Amortization of debt financing costs | 47 | 103 | 220 | 394 | ||||||||||||
| Other adjustment to loan exit fee | — | — | (485 | ) | — | |||||||||||
| Non-cash lease expense | 25 | 42 | 117 | 182 | ||||||||||||
| Loss on disposal of property, plant, and equipment | — | 184 | 19 | 233 | ||||||||||||
| Changes in operating assets and liabilities: | ||||||||||||||||
| Accounts receivable | 520 | 224 | (374 | ) | (494 | ) | ||||||||||
| Inventories | (598 | ) | 559 | (2,368 | ) | 244 | ||||||||||
| Prepaid expenses and other current assets | 897 | 925 | (567 | ) | (18 | ) | ||||||||||
| Other non-current assets | 30 | 136 | 97 | 470 | ||||||||||||
| Accounts payable | 226 | (164 | ) | 470 | (594 | ) | ||||||||||
| Accrued liabilities | 472 | 335 | 73 | (389 | ) | |||||||||||
| Other | — | (20 | ) | (10 | ) | (92 | ) | |||||||||
| Cash used in operating activities | (462 | ) | (936 | ) | (8,646 | ) | (12,391 | ) | ||||||||
| Investing activities: | ||||||||||||||||
| Purchases of short-term investments | (3,445 | ) | (4,847 | ) | (17,153 | ) | (30,275 | ) | ||||||||
| Maturities of short-term investments | 7,000 | 4,000 | 29,000 | 4,000 | ||||||||||||
| Proceeds from sale of property, plant, and equipment | — | — | — | 125 | ||||||||||||
| Purchases of property, plant, and equipment | (348 | ) | (567 | ) | (1,148 | ) | (1,125 | ) | ||||||||
| Cash provided by (used in) investing activities | 3,207 | (1,414 | ) | 10,699 | (27,275 | ) | ||||||||||
| Financing activities: | ||||||||||||||||
| Proceeds from equity financing, net | — | — | — | 15,104 | ||||||||||||
| Proceeds from long-term debt | — | — | 1,110 | — | ||||||||||||
| Payment of exit fee costs | — | — | (1,110 | ) | — | |||||||||||
| Payment of debt issuance costs | — | — | (100 | ) | (25 | ) | ||||||||||
| Proceeds from financed insurance premiums | — | — | 333 | 385 | ||||||||||||
| Repayment of financed insurance premiums | (143 | ) | (166 | ) | (293 | ) | (738 | ) | ||||||||
| Proceeds from exercise of stock options | 51 | 25 | 100 | 29 | ||||||||||||
| Proceeds from issuance of common stock under employee stock purchase plan | 55 | 54 | 111 | 135 | ||||||||||||
| Cash provided by (used in) financing activities | (37 | ) | (87 | ) | 151 | 14,890 | ||||||||||
| Change in cash and cash equivalents | 2,708 | (2,437 | ) | 2,204 | (24,776 | ) | ||||||||||
| Cash and cash equivalents at beginning of period | 3,204 | 6,145 | 3,708 | 28,484 | ||||||||||||
| Cash and cash equivalents at end of period | $ | 5,912 | $ | 3,708 | $ | 5,912 | $ | 3,708 | ||||||||
| ALPHA TEKNOVA, INC. Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (Unaudited) (In thousands) | |||||||||||||||
| For the Three Months Ended December 31, | For the Twelve Months Ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net loss – as reported | $ | (4,758 | ) | $ | (5,719 | ) | $ | (17,259 | ) | $ | (26,745 | ) | |||
| Add back: | |||||||||||||||
| Interest expense, net | (211 | ) | (129 | ) | (710 | ) | (687 | ) | |||||||
| Provision for (benefit from) income taxes | (62 | ) | (38 | ) | 58 | (88 | ) | ||||||||
| Depreciation expense | 1,294 | 1,358 | 5,194 | 5,430 | |||||||||||
| Amortization of intangible assets | 287 | 287 | 1,148 | 1,148 | |||||||||||
| EBITDA | $ | (3,028 | ) | $ | (3,983 | ) | $ | (10,149 | ) | $ | (19,568 | ) | |||
| Other and non-recurring expenses: | |||||||||||||||
| Stock-based compensation expense | 777 | 766 | 3,429 | 3,666 | |||||||||||
| Severance pay and other termination benefits | — | — | — | 1,287 | |||||||||||
| Other adjustment to loan exit fee | — | — | (485 | ) | — | ||||||||||
| Transaction costs | 482 | — | 482 | — | |||||||||||
| Loss contingency | — | — | — | 73 | |||||||||||
| Adjusted EBITDA | $ | (1,769 | ) | $ | (3,217 | ) | $ | (6,723 | ) | $ | (14,542 | ) | |||
| For the Three Months Ended December 31, | For the Twelve Months Ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Cash used in operating activities | $ | (462 | ) | $ | (936 | ) | $ | (8,646 | ) | $ | (12,391 | ) | |||
| Purchases of property, plant, and equipment | (348 | ) | (567 | ) | (1,148 | ) | (1,125 | ) | |||||||
| Free Cash Flow | $ | (810 | ) | $ | (1,503 | ) | $ | (9,794 | ) | $ | (13,516 | ) | |||
This press release was published by a CLEAR® Verified individual.
FAQ
What were Teknova (TKNO) revenue results for full year 2025?
How did Teknova (TKNO) perform in Q4 2025 and what drove margin improvement?
What guidance did Teknova (TKNO) provide for 2026 revenue and cash flow?
What were Teknova's (TKNO) profitability and cash metrics for 2025?
How did Teknova (TKNO) reduce costs or operating expenses in 2025?
What commercial progress did Teknova (TKNO) report for Clinical Solutions in 2025?
