Teknova Raises 2026 Revenue Outlook To $46 Million-$48 Million After Record Quarter
The reagent maker's third-quarter sales rose 22% and its net loss narrowed to $3.5 million, while its cash-burn target held.
Alpha Teknova, which makes reagents for drug, vaccine and diagnostic development, raised its 2026 revenue forecast to $46 million to $48 million on Wednesday after third-quarter sales of $12.7 million, up 22% from $10.5 million a year earlier, according to an 8-K. CEO Stephen Gunstream called it record revenue for the second quarter in a row.
Clinical sales grow 86%
Clinical Solutions, the products made for use in therapies and diagnostic kits, rose 86% to $3.2 million from $1.7 million. Lab Essentials, the larger research-products unit, grew 9% to $9.0 million from $8.3 million.
Gross margin widened to 38.0% from 30.7%, which the company attributed mainly to higher revenue. Gross profit was $4.8 million, against $3.2 million a year earlier.
Operating expenses rose to $8.0 million from $7.2 million, driven mostly by higher sales and marketing spending on more headcount. The net loss narrowed to $3.5 million, or $0.06 per share, from $4.3 million, or $0.08 per share. Adjusted EBITDA was a loss of $1.0 million, against a loss of $1.6 million.
Biotech buyers return
Gunstream said customers in life science tools, diagnostics and biopharma bought more, and that small and mid-sized biotechs and their contract manufacturers ordered more custom products. He called that "an early indication of biotech funding improvements over the past four quarters."
Teknova, based in Hollister, California, sells catalog and custom pre-poured media plates, liquid culture media and molecular biology reagents. Its 10-K for 2025 showed Lab Essentials at 76.6% of revenue and Clinical Solutions at 18.9%.
Cash burn and a new $46 million
Free cash outflow, meaning operating cash flow less capital spending, was $1.4 million in the quarter, down from $2.4 million. The company kept its full-year target of less than $8 million.
On October 22, Teknova closed an underwritten offering of 9,200,000 shares at $5.00 each, including the underwriters' full option. Gross proceeds were $46.0 million and net proceeds about $42.9 million. At September 30, before the offering closed, cash and short-term investments were $16.6 million and borrowings were $13.2 million.
The company also launched the Fill-Tek Dispensing System, which lets customers order exact single-use bag sizes, quantities and fill volumes.
Management hosts a call at 6:00 p.m. ET Wednesday, then presents at the Craig-Hallum Alpha Select Conference on November 17 and the Stephens Annual Investment Conference on November 18.
Sources
- 8-K Filing — Alpha Teknova, Inc. (TKNO) — SEC EDGAR
- Exhibit tkno-ex99_1.htm — Alpha Teknova, Inc. 8-K exhibit — SEC EDGAR
- Teknova Reports Third Quarter 2026 Financial Results — globenewswire.com
