Q2 2026 Alpha Teknova Inc Earnings Call Transcript
Key Points
- Alpha Teknova Inc (TKNO) achieved its highest quarterly revenue in company history, with total revenue growing 18% year-over-year to exceed $12 million in Q2 2026.
- The company raised its full-year 2026 revenue guidance to $45-$47 million, up from the previous $42-$44 million range, reflecting strong first-half performance and confidence in the back half.
- Revenue growth was broad-based, with the largest direct customer representing less than 7% of total revenue, and growth was seen across all major target markets except cell and gene therapy.
- Alpha Teknova Inc (TKNO) launched Build-Tek, an AI-powered custom order configurator that reduces custom product design time from weeks to days, already generating quote requests from new customers.
- The company significantly reduced its free cash outflow to $0.6 million in Q2 2026, down from $2.3 million in the prior year quarter, marking its lowest cash burn since before its IPO.
- Alpha Teknova Inc (TKNO) sees multiple tailwinds for 2027, including therapies in clinical trials progressing toward commercialization, improved biotech funding, and early positive results from commercial investments.
- Cell and gene therapy related accounts experienced a decline in Q2 2026, partly due to order timing, and biopharma revenue has been muted so far this year due to softness in this segment.
- The company has not yet seen the positive revenue impact from improved biotech funding, which typically lags by approximately four quarters, and is not factoring this into back-half guidance.
- Gross margin improvement in Q2 2026 was partially masked by a difficult comparison to Q2 2025, which included unusually favorable manufacturing efficiencies.
- Operating expenses increased to $7.8 million in Q2 2026 due to investments in sales and marketing, and the company expects operating expenses to remain at least $8 million per quarter through the end of 2026.
- Alpha Teknova Inc (TKNO) expects free cash outflow to increase in the next two quarters, with full-year 2026 free cash outflow projected to be less than $8 million.
- The company's 2027 revenue target remains unchanged at the low $50 millions, and management is being prudent about upside potential until the impact of biotech funding and commercial investments becomes clearer.
Good day, and thank you for standing by. Welcome to the Teknova second quarter 2026 financial results. At this time, all participants are in listen only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star one one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star one one again. Please be advised that today's conference is being recorded. I would like to hand the conference to the first speaker today, Jennifer Henry, Senior Vice President of Marketing. Please go ahead.
Thank you, operator. Welcome to Teknova's second quarter 2026 earnings call. With me on today's call are Stephen Gunstream, Teknova's President and Chief Executive Officer, and Matt Lowell, Teknova's Chief Financial Officer, who will make prepared remarks and then take your questions. As a reminder, the forward-looking statements that we make during
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