Business
Teknova Reports Second Quarter 2021 Financial Results
—$8.3 million in total revenue, up 38% year-over-year— —Strong cash position of $108.0 million supports investment in long-term growth strategy— HOLLISTER,
About this update from Alpha Teknova, Inc.
[{"type":"text","content":"—$8.3 million in total revenue, up 38% year-over-year— —Strong cash position of $108.0 million supports investment in long-term growth strategy— HOLLISTER, Calif., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Alpha Teknova, Inc. (“Teknova”) (Nasdaq: TKNO), a leading provider of critical reagents for the development and production of biopharmaceutical products including drug therapies, novel vaccines, and molecular diagnostics, today announced financial results for the second quarter ended June 30, 2021. “We are pleased with our performance during the second quarter of 2021, as we continued to see strong demand across our Lab Essentials and Clinical Solutions product categories,” said Stephen Gunstream, President and CEO of Teknova. “Together with the successful completion of our initial public offering, our growing revenue supports our long-term strategy by fueling investments to increase production capacity and to extend our commercial and R&D capabilities in the near term.” Corporate and Financial Updates Second quarter 2021 revenue of $8.3 million, up 38% as compared to $6.0 million in the second quarter of 2020 and up 41% as compared to $5.9 million in the second quarter of 2020, when Sample Transport medium revenue is excludedCompleted initial public offering, raising approximately $99.1 million in proceeds, after deducting underwriting discounts and commissions, and other offering expensesStrengthened Board with the independent Director appointments of life science veterans Robert McNamara, Brett Robertson, and Alexander VosBegan construction on new state-of-the art GMP manufacturing facility in Hollister, CAEstablished our Scientific Affairs team to engage with scientists active in cell and gene therapy research and development Revenue for the Second Quarter and Year-to-Date $000sThree months ended June 30Six months ended June 30Unaudited20212020YoY Chg 20212020YoY Chg Lab Essentials6,4564,43046%13,2469,67937%Clinical Solutions1,5931,20832%2,6641,78749%Sample Transport37174(78%)961174453%Other227232(2%)5205161%Total Revenue8,3136,04438%17,39112,15643% Second Quarter 2021 Financial Highlights Total revenues for the second quarter 2021 were $8.3 million, a 38% increase from $6.0 million in the second quarter 2020. Excluding Sample Transport medium, revenues for the second quarter 2021 were $8.3 million, a 41% increase from $5.9 millio...