Free cash flow remains deeply negative, with a $3.6 million burn in 2026Q1 highlighting a structural inability to cover operating expenses through internal revenue generation.
| Cash from Operations | -7.7M | -8.65M | -12.39M | -18.81M | -27.4M | -9.07M | 2.5M | 2.17M |
| Operating CF Margin % | - | -21.34% | -32.83% | -51.29% | -66.15% | -24.58% | 8% | 10.81% |
| Operating CF Growth % | 114.77% | 30.22% | 34.14% | 31.34% | -202.13% | -462.04% | 15.33% | - |
| Net Income | -17.17M | -17.26M | -26.75M | -36.78M | -47.47M | -9.8M | 3.57M | -1.3M |
| Depreciation & Amortization | 6.34M | 6.34M | 6.58M | 5.66M | 3.17M | 2.88M | 2.04M | 1.62M |
| Stock-Based Compensation | 2.42M | 3.43M | 3.67M | 4.14M | 3.71M | 1.55M | 300K | 0 |
| Deferred Taxes | 77K | 52K | -92K | -304K | -1.93M | -2.84M | 2.09M | -457K |
| Other Non-Cash Items | 3.01M | 1.47M | 5.08M | 6.22M | 22.46M | 906K | 7K | 12K |
| Working Capital Changes | -2.38M | -2.68M | -873K | 2.25M | -7.33M | -1.77M | -5.51M | 2.3M |
| Change in Receivables | -86K | -374K | -494K | 314K | 380K | -49K | -2.35M | -104K |
| Change in Inventory | -2.39M | -2.37M | 244K | 330K | -7.55M | -2.25M | -987K | 996K |
| Change in Payables | 60K | 470K | -594K | -773K | 572K | 270K | -89K | 1.19M |
| Cash from Investing | 8.72M | 10.7M | -27.27M | -7.74M | -28.15M | -17.52M | -1.74M | -8.16M |
| Capital Expenditures | -1.16M | -1.15M | -1.13M | -7.93M | -28.15M | -19.88M | -5.47M | -2.65M |
| CapEx % of Revenue | 2.78% | 2.83% | 2.98% | 21.63% | 67.96% | 53.88% | 17.46% | 13.18% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 125K | 197K | 0 | 529K | 27K | 61K |
| Cash from Financing | -85K | 151K | 14.89M | 12.8M | 10.27M | 110.79M | -1.6M | 8.57M |
| Debt Issued (Net) | 2.15M | 1.11M | 0 | -10M | 10.13M | 11.89M | -45K | -847K |
| Equity Issued (Net) | 144K | 211K | 15.1M | 22.83M | 439K | 102.67M | 0 | 16.17M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -19.47M |
| Other Financing | -2.38M | -1.17M | -214K | -32K | -307K | -3.77M | -1.55M | -6.75M |
| Net Change in Cash | 929K | 2.2M | -24.78M | -13.75M | -45.28M | 84.2M | -829K | 2.59M |
| Free Cash Flow | -8.87M | -9.79M | -13.52M | -26.75M | -55.55M | -28.95M | -2.96M | -477K |
| FCF Margin % | -21.21% | -24.17% | -35.81% | -72.91% | -134.11% | -78.46% | -9.46% | -2.37% |
| FCF Growth % | 20.71% | 27.54% | 49.47% | 51.85% | -91.91% | -877.58% | -520.75% | - |
| FCF per Share | -0.17 | -0.18 | -0.29 | -0.84 | -1.98 | -1.03 | -0.74 | -0.13 |
| FCF Conversion (FCF/Net Income) | 0.52x | 0.50x | 0.46x | 0.51x | 0.58x | 0.93x | 0.70x | -1.66x |
| Interest Paid | 369K | 1.46M | 1.55M | 0 | 0 | 414K | 36K | 59K |
| Taxes Paid | 34K | 2K | 39K | 0 | 0 | 8K | 323K | 95K |
Imminent liquidity and dilution
According to the provided quarterly cash flow statements, Alpha Teknova consistently reports negative operating cash flow that tracks closely with net losses, with the OCF/NI ratio frequently fluctuating, suggesting that the company lacks the operational efficiency to generate cash even when accounting for non-cash depreciation expenses.
The persistent gap between net income and operating cash flow indicates that the business is not yet self-sustaining. Investors should monitor the OCF/NI ratio closely, as the inability to bridge this gap suggests that the company's core operations remain fundamentally cash-consumptive rather than cash-generative.
As reported in financial statements, Alpha Teknova's free cash flow remains deeply negative across all observed periods, with the most recent quarter showing a cash burn of $3.6 million, highlighting a structural inability to cover operating expenses and capital requirements through internal revenue generation alone.
The consistent negative FCF margin suggests that the company is currently in a capital-intensive phase that has yet to yield a return on investment. This trajectory warrants further investigation into how long the company can sustain such burn rates before requiring additional external financing.
Based on the reported figures, working capital changes have been highly erratic over the last ten quarters, swinging from a $2.9 million inflow in 2023Q4 to a $1.8 million outflow in 2025Q1, which complicates the company's ability to manage its limited liquidity effectively.
This volatility in working capital suggests potential inefficiencies in inventory management or collection cycles. Such fluctuations may indicate that the company is struggling to align its production throughput with actual customer demand, leading to unpredictable cash impacts.
Data from recent filings indicates that stock-based compensation, which reached $950,000 in 2025Q2, serves as a non-cash add-back that obscures the true extent of the company's cash burn, effectively shifting the burden of compensation from cash reserves to shareholder dilution over the long term.
While SBC is a standard accounting adjustment, its presence in a company with such limited cash reserves suggests that management is utilizing equity to preserve liquidity. Investors should consider the dilutive impact of this practice alongside the company's ongoing operational losses.
Quick answers to the most common questions about buying TKNO stock.
Alpha Teknova, Inc. (TKNO) generated $-8.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Alpha Teknova, Inc. (TKNO) reported negative free cash flow of $9.8M in 2025, indicating capital requirements exceeded cash from operations.
Alpha Teknova, Inc. (TKNO) spent $1.1M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.