Third quarter 2026 total revenue was $12.7 million, up 22% over the same quarter prior year

Company raises 2026 revenue guidance to $46-48 million

Strengthened balance sheet with $46 million public equity offering completed in October 2026

HOLLISTER, Calif., Nov. 04, 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 third quarter ended September 30, 2026.

"We posted record revenue for the second consecutive quarter," said Stephen Gunstream, President and Chief Executive Officer at Teknova. "Growth was driven by increased sales of products to life science tools and diagnostics, and to biopharma customers. Notably, there was an increase in purchases of our custom products by small and mid-sized biotech customers and their associated contract manufacturers, which we believe is an early indication of biotech funding improvements over the past four quarters."

Matt Lowell, Teknova's Chief Financial Officer, added, "We delivered excellent financial results in the third quarter 2026 compared to 2025, highlighted by 22% revenue growth and a significant improvement in Adjusted EBITDA and Free Cash Outflow. We are therefore raising our 2026 revenue guidance to $46-48 million and maintaining our expectations for full-year Free Cash Outflow of less than $8 million," he explained. "We are also pleased with the balance sheet flexibility we achieved with our $46 million equity capital raise in October and that we were able to welcome a significant number of new investors to Teknova's shareholder base through the offering," he added.

Corporate and Financial Updates

   -- Third quarter 2026 total revenue of $12.7 million, up 22% compared to 
      $10.5 million for the third quarter 2025 
 
   -- On October 22, 2026, closed an underwritten public offering of 9,200,000 
      shares of common stock, including the full exercise of the underwriters' 
      option to purchase additional shares, at a public offering price of $5.00 
      per share, for gross proceeds of $46.0 million and net proceeds of 
      approximately $42.9 million 
 
   -- Total cash and short-term investments were $16.6 million and total 
      borrowings were $13.2 million at the end of the third quarter 2026 
 
   -- Expanded its modular manufacturing platform with the launch of the 
      Fill-Tek(TM) Dispensing System, which provides greater flexibility for 
      customers to order the exact single-use bag sizes, quantities, and fill 
      volumes their process requires across RUO, RUO+, and GMP grades, with no 
      added turnaround time 

Revenue for the Third Quarter 2026

 
                            For the Three     For the Nine Months 
                            Months Ended        Ended September 
                            September 30,             30, 
                         -------------------  ------------------- 
(Dollars in thousands)    2026       2025      2026       2025 
                         -------  ----------  -------  ---------- 
Lab Essentials           $ 9,034  $    8,308  $26,613  $   24,217 
Clinical Solutions         3,168       1,706    7,741       4,928 
Other                        502         440    1,612       1,391 
                          ------   ---------   ------   --------- 
Total revenue            $12,704  $   10,454  $35,966  $   30,536 
                          ======   =========   ======   ========= 
 
 

Third Quarter 2026 Financial Results

Total revenue for the third quarter 2026 was $12.7 million, up 22% compared to $10.5 million in the third quarter 2025. Lab Essentials revenue was $9.0 million in the third quarter 2026, up 9% compared to $8.3 million in the third quarter 2025. Clinical Solutions revenue was $3.2 million in the third quarter 2026, up 86% compared to $1.7 million in the third quarter 2025.

Gross profit for the third quarter 2026 was $4.8 million, compared to $3.2 million in the third quarter 2025. Gross margin for the third quarter 2026 was 38.0%, compared to 30.7% in the third quarter 2025. The increase in gross margin was primarily driven by higher revenue and, to a lesser extent, lower fixed cost absorption into cost of goods sold from changes in finished goods inventory levels, partially offset by higher variable costs.

Operating expenses for the third quarter 2026 were $8.0 million, compared to $7.2 million in the third quarter 2025. The increase was primarily driven by higher spending in sales and marketing, a result of higher headcount, coupled with slightly increased general and administrative expenses, partially offset by lower stock-based compensation expense.

Net loss for the third quarter 2026 was $3.5 million, or negative $0.06 per diluted share, compared to $4.3 million, or negative $0.08 per diluted share, for the third quarter 2025. Adjusted EBITDA for the third quarter 2026 was negative $1.0 million, compared to negative $1.6 million for the third quarter 2025.

Cash used in operating activities for the third quarter 2026 was $1.3 million, compared to $2.0 million of cash used in operating activities for the third quarter 2025. Free Cash Outflow was $1.4 million for the third quarter 2026, compared to $2.4 million for the third quarter 2025.

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 raises its fiscal 2026 outlook for revenue and reaffirms its fiscal 2026 outlook for Free Cash Outflow. The Company now anticipates total revenue of $46 million to $48 million for the fiscal year ending December 31, 2026 ("2026"). The Company continues to anticipate Free Cash Outflow of less than $8 million for 2026.

Upcoming Investor Conference Attendance

Craig-Hallum Alpha Select Conference (New York, NY)

November 17, 2026

Stephens Annual Investment Conference (Nashville, TN)

November 18, 2026

Conference Call and Webcast

Teknova will host a webcast and conference call on Wednesday, November 4, 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