Fri, Mar 7, 10:31 PM (44 days ago)
**Summary of Alpha Teknova, Inc. (TKNO) 10-K Report for the Year Ended December 31, 2024** Alpha Teknova, Inc. reported revenue of $37.7 million for 2024, a 2.9% increase from $36.7 million in 2023. The company incurred a net loss of $26.7 million, improving from a loss of $36.8 million the previous year. Operating expenses decreased by 27.2% to $33.4 million, driven by reductions in R&D and sales/marketing costs. Gross profit fell to $7.2 million, with a gross margin of 19.2%, impacted by non-recurring inventory charges. Strategically, Teknova focuses on high-demand life sciences markets, particularly cell and gene therapy, where it expects significant growth. The company expanded its manufacturing capacity and improved operational efficiency, aided by a new credit agreement with MidCap Financial Trust, which includes a $28.2 million loan commitment. Key risks include reliance on a few major customers and suppliers, fluctuations in demand, and potential regulatory challenges. The company maintains a strong liquidity position with $31.6 million in working capital, despite recent operating losses. The outlook remains cautious but optimistic, contingent on continued demand for custom reagents and effective cost management.