The following is a summary of the Alpha Teknova, Inc. (TKNO) Q2 2024 Earnings Call Transcript:
Financial Performance:
Teknova reported a decline in Q2 2024 revenue by 17% compared to the same quarter last year, resulting in total revenue of $9.6 million
Gross margin decreased to 29.2% due to lower Clinical Solutions revenue and higher overhead costs, notably from depreciation expense
Adjusted EBITDA saw an improvement of $1.2 million compared to Q1 2024Net loss narrowed to $5.4 million, or $0.13 per diluted share
Business Progress:
Introduced new manufacturing grade RUO+ and Express-Tek service to expedite production, aimed at generating high-margin revenue and addressing key customer pain points
Successfully increased clinical customers to 43, supporting the transition of therapies towards commercialization
Opportunities:
With stabilization in biotech funding and a projected supportive market by 2025, Teknova anticipates leveraging increased engagement and new offerings to drive growth
Expects significant revenue uplift as clinical customers progress towards commercialization, particularly in cell & gene therapy segments
More details: Alpha Teknova IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
