The following is a summary of the Alpha Teknova, Inc. (TKNO) Q1 2024 Earnings Call Transcript:
Financial Performance:
Alpha Teknova's Q1 2024 revenue showed a marginal 2% growth to $9.3 million over the previous year, with a notable 7% increase in Clinical Solutions.
The company's gross profit for Q1 2024 was $2.2 million with a gross margin of 23.8%, slightly down from 26.6% in Q1 2023 due to increased overheads.
The net loss for Q1 2024 narrowed to $8.1 million or $0.20 per diluted share from $8.8 million or $0.31 per diluted share in Q1 2023.
Business Progress:
Alpha Teknova started 2024 strong, focusing on producing critical reagents for the life sciences industry to expedite the introduction of innovative therapies and diagnostics.
Significant growth in work orders was seen in the new facility, accompanied by successful product launches of AAV-Tek AAV Stabilizer and Build-Tek.
The company notes increased interaction with customers and anticipates continuous improvement in gross margins and revenue.
The company also showcased growth in customer base, particularly in Clinical Solutions and Lab Essentials, giving an optimistic outlook for the future.
More details: Alpha Teknova IR
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