Business
Teknova Reports Third Quarter 2021 Financial Results
$9.4 million in total revenue, up 5% year-over-yearExcluding Sample Transport, total revenue was $9.3 million, up 26% year-over-yearStrong cash position of
About this update from Alpha Teknova, Inc.
[{"type":"text","content":"$9.4 million in total revenue, up 5% year-over-yearExcluding Sample Transport, total revenue was $9.3 million, up 26% year-over-yearStrong cash position of $98.0 million supports investment in long-term growth strategy HOLLISTER, Calif., Nov. 10, 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 third quarter ended September 30, 2021. “Teknova performed very well during the third quarter of 2021. We met robust customer demand for our Lab Essentials and Clinical Solutions products and made meaningful progress in advancing our strategic priorities, including investing in our manufacturing capacity and successfully recruiting priority leadership hires,” said Stephen Gunstream, President and CEO of Teknova. “We remain focused on both near-term execution and the laying of the foundation for our long-term growth opportunities.” Corporate and Financial Updates Achieved third quarter 2021 revenue of $9.4 million, up 5% as compared to $9.0 million in the third quarter 2020 and up 26% as compared to $7.4 million in the third quarter 2020, when Sample Transport is excludedInvested in manufacturing capacity expansion in existing facilities and construction of a new, state-of-the art GMP manufacturing facility in Hollister, California, including new hires with process development and automation expertiseExpanded the Company’s leadership team in November by appointing two key commercial roles, Ken Gelhaus as Chief Commercial Officer and Jennifer Henry as SVP, Marketing Revenue for the Third Quarter and Year-to-Date $000sThree months endedNine months ended September 30, 2021September 30, 2021Unaudited20212020Inc/Dec 20212020Inc/Dec Lab Essentials7,1955,81524%20,44015,49432%Clinical Solutions1,6901,35425%4,3543,14139%Sample Transport731,593(95%)1,0351,767(41%)Other43422295%95473829%Total Revenue9,3928,9845%26,78321,14027% Third Quarter 2021 Financial Highlights Total revenues for the third quarter 2021 were $9.4 million, a 5% increase from $9.0 million in the third quarter 2020. Excluding Sample Transport, revenues for the third quarter 2021 were $9.3 million, a 26% increase from $7.4 million in the third qua...