Alpha Teknova (TKNO) Q4 2025 earnings summary

Executive summary

• Full year 2025 revenue reached $40.5 million, up 7% year-over-year and in line with guidance.

• Q4 2025 revenue was $10.0 million, up 8% over Q4 2024, with strong growth in Clinical Solutions.

• Catalog product sales led growth, and active clinical product customers increased by 25% to 60.

• Delivered 95% on-time product delivery and maintained a 95% customer retention rate for significant accounts.

• Free cash outflow was $9.8 million, better than guidance and improved from negative $13.5 million in 2024.

Financial highlights

• Gross margin improved to 33.2% in 2025 from 19.2% in 2024, with Q4 2025 at 32.5%.

• Net loss for 2025 was $17.3 million ($0.32/share), improved from $26.7 million ($0.57/share) in 2024.

• Adjusted EBITDA for 2025 was negative $6.7 million, improved from negative $14.5 million in 2024.

• Cash and equivalents at year-end: $21.3 million; gross debt: $13.2 million.

• Operating expenses for 2025 were $30.4 million, down from $33.4 million in 2024.

Outlook and guidance

• 2026 revenue guidance: $42–$44 million, implying ~6% growth at midpoint.

• Gross margin expected in the mid-30% range for 2026.

• Increased investment in sales and marketing by $2 million in 2026 to drive future growth.

• Targeting positive adjusted EBITDA by end of 2027, requiring $52–$57 million annualized revenue.

• Free cash outflow expected to be less than $10 million in 2026.