Alpha Teknova reports Q2 EPS (13c), consensus (16c)

Reports Q2 revenue $9.61M, consensus $9.46M.”We delivered solid results across the board in the first half of 2024,” said Stephen Gunstream, President and Chief Executive Officer at Teknova. “I’m particularly encouraged by the progress we’ve made onboarding new clinical customers, now up to 43, a 26% increase in the past six months. I believe these customers, combined with an improved backdrop in biotech funding, put us in a strong position as we look towards 2025 and beyond,” he added. “During the second quarter of 2024, we delivered improved results over the first quarter of 2024, as we again managed our operating expenses and capital expenditures to plan. We are cautiously optimistic around the timing of further market recovery and are thus maintaining our full-year outlook of $35-38 million of revenue and free cash outflow of less than $18 million,” explained Matt Lowell, Teknova’s Chief Financial Officer. “We are very pleased with the $15.4 million equity capital raise we completed a month ago, which we believe provides sufficient liquidity to bridge the company through to cash flow positive,” he added.