Alpha Teknova, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024. For the full year 2024, total revenue was $37.7 million, a 3% increase from $36.7 million in 2023, aligning with the company's guidance.
Fourth quarter 2024 total revenue increased 18% to $9.3 million compared to $7.9 million in the fourth quarter of 2023. Clinical Solutions revenue in Q4 2024 grew 110% to $1.9 million, while Lab Essentials revenue increased 2% to $6.8 million.
The company reported a full-year 2024 net loss of $26.7 million, or negative $0.57 per diluted share, an improvement from a net loss of $36.8 million, or negative $1.16 per diluted share, in 2023. Adjusted EBITDA for 2024 improved to negative $14.5 million from negative $19.8 million in 2023.
Gross margin for the full year 2024 was 19.2%, impacted by a $2.8 million non-recurring inventory write-down; excluding this, the gross margin would have been 26.5%. Operating expenses for 2024 decreased by $8.1 million, excluding non-recurring charges, driven by reduced headcount and spending.
Teknova provided its fiscal 2025 outlook, anticipating total revenue of $39 million to $42 million. The company also projects free cash outflow to be less than $12 million for 2025, indicating a continued focus on improving cash flow.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.