Teknova Announces Preliminary Revenue of $10.0 to $10.1 Million for the Fourth Quarter 2021

HOLLISTER, Calif., Feb. 28, 2022 (GLOBE NEWSWIRE) -- Alpha Teknova, Inc. (“Teknova”) (Nasdaq: TKNO), a leading provider of critical reagents for the discovery, development, and commercialization of drug therapies, novel vaccines, and molecular diagnostics, today announced preliminary unaudited revenue for the fourth quarter ended December 31, 2021, of $10.0 to $10.1 million, including Sample Transport of approximately $0.5 million.   Excluding Sample Transport, total unaudited revenue for the fourth quarter ended December 31, 2021, was $9.5 to $9.6 million.

"Our team delivered an outstanding finish to 2021, resulting in revenue growth of 31%, excluding Sample Transport, above our long-term target of 25% growth,” said Stephen Gunstream, President and CEO of Teknova. “Our results underscore the continued market demand for high-quality, custom research and clinical grade solutions with rapid turnaround times.”

Preliminary Unaudited Revenue for the Fourth Quarter 2021

Preliminary unaudited revenue for the fourth quarter of 2021 is expected to be $10.0 to $10.1 million, compared to $10.2 million in the fourth quarter of 2020, reflecting a decrease of approximately 1% at the midpoint. Excluding Sample Transport, a product line dedicated to COVID-19 testing, preliminary unaudited revenue for the fourth quarter of 2021 is expected to be $9.5 to $9.6 million, compared to $7.6 million in the fourth quarter of 2020, reflecting growth of approximately 25% at the midpoint.

These preliminary unaudited results are based on management’s initial analysis of operations for the year ended December 31, 2021, and are subject to change. Teknova expects to issue full financial results for fiscal year 2021 on or around March 15, 2022.

Participation in Upcoming Investor Conferences

Teknova will participate in the following upcoming investor conferences.

Cowen 42^nd Annual Healthcare Conference
March 7-9, 2022
Stephen Gunstream, Teknova’s President and Chief Executive Officer, and Matt Lowell, Teknova’s Chief Financial Officer, will participate in a fireside chat at 2:50 p.m. ET, on Wednesday, March 9, 2022.

KeyBanc Capital Markets Life Sciences and MedTech Investor Forum
March 22-23, 2022
Stephen Gunstream, Teknova’s President and Chief Executive Officer, and Matt Lowell, Teknova’s Chief Financial Officer, will participate in a fireside chat at 5:15 p.m. ET, on Wednesday, March 23, 2022.

The fireside chats will be webcast and may be accessed from the Investor Relations section of the Company’s website: https://ir.teknova.com/. The webcasts will be available on the Company’s website for approximately 90 days after each event.

About Teknova
Teknova is expediting clinical breakthroughs in the life sciences by providing custom products and reagents for bioprocessing, bioproduction, and molecular diagnostics. With a focus on agility and customization, Teknova delivers research-grade and GMP products, including cell culture media and supplements, protein and nucleic acid purification buffers, and molecular biology reagents for a multitude of established and emerging applications, including cell and gene therapy, mRNA therapeutics, genomics, and synthetic biology. Teknova's proprietary processes enable the manufacture and delivery of high quality, custom, made-to-order products on short turnaround times and at scale across all stages of development, including commercialization.

Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” These statements include, but are not limited to, statements relating to our long-term growth strategy, demand for our products, expansion of our production capacity and commercial and R&D capabilities. The words, without limitation, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. These forward-looking statements are based on management’s current expectations and beliefs and are subject to uncertainties and factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to our cash flows and revenue growth rate; our supply chain, sourcing, manufacturing and warehousing; inventory management; risks related to global economic and marketplace uncertainties related to the impact of the COVID-19 pandemic; reliance on a limited number of customers for a high percentage of our revenue; acquisitions of other companies and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), including in our final prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on June 25, 2021, all of which you may obtain for free on the SEC’s website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Investor Contacts
Matt Lowell
Chief Financial Officer
matt.lowell@teknova.com
+1 831-216-1830

Sara Michelmore
MacDougall Advisors
smichelmore@macdougall.bio
+1 781-235-3060

Media Contact
Jenn Henry
Senior Vice President, Marketing
jenn.henry@teknova.com
+1 831-313-1259