Full year 2025 total revenue was
Fourth quarter 2025 total revenue was
Company provides 2026 revenue guidance of
“After another successful year of disciplined execution against our strategic objectives, we’ve decided to further invest in our commercial capabilities this year,” said
Corporate and Financial Updates
- Achieved full year 2025 total revenue of
$40.5 million , up 7% as compared to$37.7 million for the full year 2024, and fourth quarter 2025 total revenue of$10.0 million , up 8% 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 | For the Twelve Months Ended | ||||||||||||||
| (Dollars in thousands) | 2025 | 2024 | 2025 | 2024 | |||||||||||
| Lab Essentials | $ | 6,827 | $ | 6,818 | $ | 31,044 | $ | 28,883 | |||||||
| 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
38th Annual
Conference Call and Webcast
Teknova will host a webcast and conference call on
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
Non-GAAP Financial Measures
This press release contains financial measures that have not been calculated in accordance with
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
Investor Contact
Chief Financial Officer
matt.lowell@teknova.com
+1 831-637-1100
Media Contact
Senior Vice President, Marketing
jenn.henry@teknova.com
+1 831-313-1259
Condensed Statements of Operations (Unaudited) (In thousands, except share and per share data) | |||||||||||||||
| For the Three Months Ended | For the Twelve Months Ended | ||||||||||||||
| 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 | |||||||||||
Condensed Balance Sheets (Unaudited) (In thousands) | |||||||
| As of | As of | ||||||
| 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 | |||
Condensed Statements of Cash Flows (Unaudited) (In thousands) | ||||||||||||||||
| For the Three Months Ended | For the Twelve Months Ended | |||||||||||||||
| 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 | ||||||||
Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (Unaudited) (In thousands) | |||||||||||||||
| For the Three Months Ended | For the Twelve Months Ended | ||||||||||||||
| 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 | For the Twelve Months Ended | ||||||||||||||
| 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.
