In This Story
Alpha Teknova Inc. (TKNO+5.20%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports revenue of $37.7 million for 2024, a 2.9% increase from $36.7 million in 2023. Revenue from Lab Essentials was $28.9 million, while Clinical Solutions contributed $7.1 million.
Cost of sales rose to $30.5 million in 2024 from $26.4 million in 2023, leading to a gross profit of $7.2 million, down from $10.3 million the previous year.
Operating expenses decreased to $33.4 million in 2024 from $45.9 million in 2023. This included reductions in research and development, sales and marketing, and general and administrative expenses.
The company reported a net loss of $26.7 million for 2024, compared to a net loss of $36.8 million in 2023.
Alpha Teknova completed a private placement in July 2024, raising approximately $15.4 million. Additionally, the company amended its credit agreement in March 2025, providing a $28.245 million credit facility.
The filing notes that Alpha Teknova's cash and cash equivalents were $3.7 million as of December 31, 2024, with short-term investments of $26.7 million.
The company continues to focus on its core product categories, Lab Essentials and Clinical Solutions, and is ISO 13485:2016 certified, enabling it to meet quality system regulations for products used in diagnostic and therapeutic applications.
Alpha Teknova's management believes there is no longer substantial doubt about the company's ability to continue as a going concern for the twelve-month period following the filing date, due to recent business improvements and actions taken to amend its credit agreement.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Alpha Teknova Inc. annual 10-K report dated March 7, 2025. To report an error, please email earnings@qz.com.