Revenue growth remains inconsistent at 13.1% year-over-year, failing to offset high fixed costs that resulted in a -38.8% operating margin in 2026Q1.
| Sales/Revenue | 41.8M | 40.52M | 37.74M | 36.68M | 41.42M | 36.89M | 31.3M | 20.09M |
| Revenue Growth % | 9.29% | 7.35% | 2.89% | -11.43% | 12.27% | 17.88% | 55.75% | - |
| Cost of Goods Sold | 27.58M | 27.08M | 30.51M | 26.39M | 23.94M | 19.27M | 13.54M | 11.52M |
| COGS % of Revenue | - | 66.83% | 80.84% | 71.93% | 57.81% | 52.24% | 43.27% | 57.33% |
| Gross Profit | 14.22M | 13.44M | 7.23M | 10.3M | 17.48M | 17.62M | 17.75M | 8.57M |
| Gross Margin % | 34.01% | 33.17% | 19.16% | 28.07% | 42.19% | 47.76% | 56.73% | 42.67% |
| Gross Profit Growth % | - | 85.88% | -29.77% | -41.08% | -0.82% | -0.75% | 107.08% | - |
| Operating Expenses | 30.24M | 30.42M | 33.38M | 45.86M | 67.14M | 29.63M | 13.09M | 10.43M |
| OpEx % of Revenue | - | 75.07% | 88.43% | 125.01% | 162.08% | 80.31% | 41.83% | 51.91% |
| Selling, General & Admin | 27.13M | 27.07M | 29.47M | 34.78M | 37.45M | 24.17M | 10.44M | 8.56M |
| SG&A % of Revenue | - | 66.81% | 78.08% | 94.81% | 90.41% | 65.51% | 33.35% | 42.6% |
| Research & Development | 2.25M | 2.2M | 2.76M | 5.57M | 7.74M | 4.31M | 1.51M | 769K |
| R&D % of Revenue | - | 5.42% | 7.31% | 15.18% | 18.68% | 11.69% | 4.82% | 3.83% |
| Other Operating Expenses | 861K | 1.15M | 1.15M | 5.51M | 21.95M | 1.15M | 1.15M | 1.1M |
| Operating Income | -16.31M | -16.98M | -26.15M | -35.56M | -49.66M | -12.01M | 4.66M | -1.86M |
| Operating Margin % | -39.02% | -41.9% | -69.27% | -96.94% | -119.89% | -32.55% | 14.9% | -9.24% |
| Operating Income Growth % | - | 35.07% | 26.48% | 28.39% | -313.55% | -357.52% | 351.24% | - |
| EBITDA | -9.97M | -10.63M | -19.57M | -29.9M | -46.49M | -9.13M | 6.71M | -233K |
| EBITDA Margin % | -23.86% | -26.24% | -51.84% | -81.52% | -112.25% | -24.73% | 21.43% | -1.16% |
| EBITDA Growth % | 39.93% | 45.66% | 34.56% | 35.68% | -409.52% | -236.05% | 2978.54% | - |
| D&A (Non-Cash Add-back) | 6.34M | 6.34M | 6.58M | 5.66M | 3.17M | 2.88M | 2.04M | 1.62M |
| EBIT | -16.31M | -16.49M | -26.15M | -31.2M | -28.86M | -12.01M | 4.66M | -1.86M |
| Net Interest Income | -785K | -710K | -687K | -833K | 213K | -589K | 87K | 66K |
| Interest Income | 0 | 0 | 0 | 0 | 213K | 0 | 87K | 66K |
| Interest Expense | 785K | 710K | 687K | 833K | 0 | 589K | 0 | 0 |
| Other Income/Expense | -776K | -225K | -687K | -1.51M | 268K | -629K | 63K | 56K |
| Pretax Income | -17.09M | -17.2M | -26.83M | -37.08M | -49.39M | -12.64M | 4.73M | -1.8M |
| Pretax Margin % | -40.87% | -42.45% | -71.09% | -101.07% | -119.24% | -34.25% | 15.1% | -8.96% |
| Income Tax | 83K | 58K | -88K | -298K | -1.92M | -2.83M | 1.16M | -495K |
| Effective Tax Rate % | -0.49% | -0.34% | 0.33% | 0.8% | 3.89% | 22.43% | 24.46% | 27.5% |
| Net Income | -17.17M | -17.26M | -26.75M | -36.78M | -47.47M | -9.8M | 3.57M | -1.3M |
| Net Margin % | -41.07% | -42.59% | -70.86% | -100.26% | -114.6% | -26.57% | 11.41% | -6.49% |
| Net Income Growth % | 26.29% | 35.47% | 27.28% | 22.52% | -384.22% | -374.59% | 373.56% | - |
| Net Income (Continuing) | -17.17M | -17.26M | -26.75M | -36.78M | -47.47M | -9.8M | 3.57M | -1.3M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.32 | -0.32 | -0.57 | -1.16 | -1.69 | -0.35 | 0.16 | -0.36 |
| EPS Growth % | 35.24% | 43.86% | 50.86% | 31.36% | -382.86% | -318.75% | 144.44% | - |
| EPS (Basic) | - | -0.32 | -0.57 | -1.16 | -1.69 | -0.35 | 0.03 | -0.05 |
| Diluted Shares Outstanding | 53.61M | 53.48M | 46.75M | 31.82M | 28.08M | 28.01M | 3.98M | 3.64M |
| Basic Shares Outstanding | 53.61M | 53.48M | 46.75M | 31.82M | 28.08M | 28.01M | 21.11M | 26.11M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Liquidity and capital dilution
As reported in recent quarterly filings, Alpha Teknova's revenue growth has fluctuated significantly, with the most recent period showing a 13.1% year-over-year increase to $11.1 million, yet the broader trend remains inconsistent and insufficient to support the company's current high-fixed-cost manufacturing infrastructure and operational scale.
The erratic revenue trajectory suggests that the company is struggling to achieve the consistent volume required to validate its specialized reagent manufacturing model. Investors should monitor whether this growth is driven by sustainable clinical-grade demand or merely volatile, lower-margin lab essentials that fail to provide long-term revenue durability.
According to the company's income statements, gross margins have oscillated between a low of 0.9% in 2024Q3 and a peak of 38.7% in 2025Q2, indicating that the firm has yet to achieve the stable production throughput necessary to absorb its significant facility-related overhead costs effectively.
The wide variance in gross margins implies that the company's manufacturing facility is highly sensitive to volume fluctuations, likely suffering from under-absorption of fixed costs during periods of lower demand. This lack of margin stability suggests that the company's pricing power remains limited in the face of competitive pressures and operational inefficiencies.
Based on the provided financial data, Alpha Teknova continues to exhibit significant operating losses, with the most recent operating margin of -38.8% highlighting a failure to scale SG&A and R&D expenses in proportion to the modest revenue gains achieved over the last ten quarters.
The persistent gap between gross profit and operating expenses suggests that the company is currently unable to leverage its infrastructure to drive profitability. Without a substantial increase in revenue to dilute these fixed operating costs, the firm appears trapped in a cycle of recurring losses that necessitates external funding.
Financial statements indicate that the company's cost structure is heavily weighted toward fixed manufacturing and operating expenses, as evidenced by the fact that SG&A alone frequently exceeds total gross profit, leaving no room for the company to reach a break-even point on an operating basis.
The company's inability to contain SG&A costs relative to its revenue base suggests a lack of expense discipline or a strategic decision to prioritize growth at the expense of near-term viability. This cost structure warrants further investigation into whether management can successfully pivot toward operational efficiency before liquidity becomes a critical constraint.
While proponents might argue that the company's specialized GMP-grade reagents create high switching costs for biotech customers, the reality reflected in the financials is a precarious cash position that may force dilutive equity raises to sustain operations in the near term.
The market may be overestimating the value of the company's 'embeddedness' in clinical pipelines while underestimating the immediate risk of insolvency or severe dilution. Investors should remain cautious, as the current burn rate appears unsustainable without a significant and immediate improvement in capital efficiency or a strategic partnership.
Quick answers to the most common questions about buying TKNO stock.
For fiscal year 2025, Alpha Teknova, Inc. (TKNO) reported total revenue of $40.5M. This represents a 101.7% increase compared to $20.1M in 2019.
Alpha Teknova, Inc. (TKNO) reported a net loss of $17.3M for the fiscal year ending 2025.
Alpha Teknova, Inc. (TKNO) reported an operating income of $-17.0M, resulting in an operating profit margin of -41.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Alpha Teknova, Inc. (TKNO) generated $13.4M in gross profit for the year, representing a gross profit margin of 33.2%. This demonstrates the company's core pricing power and production efficiency.