The following is a summary of the Alpha Teknova, Inc. (TKNO) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Teknova reported a decline in Q2 2024 revenue by 17% compared to the same quarter last year, resulting in total revenue of $9.6 million

• Gross margin decreased to 29.2% due to lower Clinical Solutions revenue and higher overhead costs, notably from depreciation expense

• Adjusted EBITDA saw an improvement of $1.2 million compared to Q1 2024

• Net loss narrowed to $5.4 million, or $0.13 per diluted share

Business Progress:

• Introduced new manufacturing grade RUO+ and Express-Tek service to expedite production, aimed at generating high-margin revenue and addressing key customer pain points

• Successfully increased clinical customers to 43, supporting the transition of therapies towards commercialization

Opportunities:

• With stabilization in biotech funding and a projected supportive market by 2025, Teknova anticipates leveraging increased engagement and new offerings to drive growth

• Expects significant revenue uplift as clinical customers progress towards commercialization, particularly in cell & gene therapy segments

More details: Alpha Teknova IR

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