# EDGAR Filing Document

**Accession Number:** 0001850902
**File Stem:** 0001193125-26-076592
**Filing Date:** 2026-2
**Character Count:** 29909
**Document Hash:** a03c76b0b11035ac963025ab78c0490a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-076592.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001193125-26-076592

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260226

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Alpha Teknova, Inc.
- **CENTRAL INDEX KEY:** 0001850902
- **STANDARD INDUSTRIAL CLASSIFICATION:** IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 943368109
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40538
- **FILM NUMBER:** 26687976

**BUSINESS ADDRESS:**
- **STREET 1:** 2451 BERT DRIVE
- **CITY:** HOLLISTER
- **STATE:** CA
- **ZIP:** 95023
- **BUSINESS PHONE:** 8316371100

**MAIL ADDRESS:**
- **STREET 1:** 2451 BERT DRIVE
- **CITY:** HOLLISTER
- **STATE:** CA
- **ZIP:** 95023

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** February 26, 2026<br>

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Alpha Teknova, Inc.

**(Exact name of Registrant as Specified in Its Charter)**

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---

| | | |
|:---|:---|:---|
| Delaware | 001-40538 | 94-3368109 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 2451 Bert Drive |  |  |
| Hollister**,** California |  | 95023 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** 831 637-1100<br>

N/A<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common Stock, par value $0.00001 per share | TKNO | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 2.02 Results of Operations and Financial Condition.
On February 26, 2026, the Company issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2025 (the "Press Release"). A copy of the Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this Item 2.02, including the Press Release, is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

## Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [<u>Press Release issued by Alpha Teknova, Inc., dated February 26, 2026.</u>](tkno-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | ALPHA TEKNOVA, INC. |
| Date: | February 26, 2026 | By:  | /s/ Stephen Gunstream |
|  |  |  | Stephen Gunstream<br>President and Chief Executive Officer |

---

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## Exhibit 99.1

**Exhibit 99.1**

![img201297901_0.jpg](img201297901_0.jpg)

**Teknova Reports Fourth Quarter and Full Year 2025 Financial Results**

*Full year 2025 total revenue was $40.5 million, up 7% year-over-year and in line with guidance*

*Fourth quarter 2025 total revenue was $10.0 million, up 8% over the same quarter prior year*

*Company provides 2026 revenue guidance of $42-44 million*

**HOLLISTER, Calif., February 26, 2026** – Alpha Teknova, Inc. ("Teknova" or the "Company") (Nasdaq: TKNO), a leading producer of critical reagents for the discovery, development, and commercialization of novel therapies, vaccines, and molecular diagnostics, today announced financial results for the fourth quarter and full year ended December 31, 2025.

"After another successful year of disciplined execution against our strategic objectives, we've decided to further invest in our commercial capabilities this year," said Stephen Gunstream, President and Chief Executive Officer at Teknova. He continued, "As we begin to realize the benefits of the substantial capital investments we've made in recent years, and amid signs that the biotech funding environment is likely to continue to improve, we believe that additional and targeted commercial efforts should enable us to become Adjusted EBITDA positive by the end of 2027."

Matt Lowell, Teknova's Chief Financial Officer, added, "We delivered strong financial results in 2025 compared to 2024, including an acceleration of top line growth and continued significant improvement in Adjusted EBITDA and Free Cash Outflow. Based on our revenue guidance of $42-44 million, and reflecting increased investment in our commercial capabilities, we anticipate full-year Free Cash Outflow of less than $10 million in 2026," he explained.

**Corporate and Financial Updates**

• Achieved full year 2025 total revenue of $40.5 million, up 7% as compared to $37.7 million for the full year 2024, and fourth quarter 2025 total revenue of $10.0 million, up 8% compared to $9.3 million for the fourth quarter 2024

• Achieved 25% annual growth in the number of Clinical Solutions customers in 2025

• Total cash and short-term investments were $21.3 million and gross debt was $13.2 million at the end of the fiscal year 2025

• Cash used in operating activities for the full year 2025 was $8.6 million, compared to $12.4 million of cash used in operating activities for the full year 2024

• Free Cash Flow for the full year 2025 was negative $9.8 million, down significantly from negative $13.5 million in 2024 and significantly below the previously communicated target of less than negative $12 million for 2025

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**Revenue for the Fourth Quarter and Full Year 2025**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended <br>December 31,** | **For the Three Months Ended <br>December 31,** | **For the Twelve Months Ended <br>December 31,** | **For the Twelve Months Ended <br>December 31,** |
| **(Dollars in thousands)** | **2025** | **2024** | **2025** | **2024** |
| Lab Essentials | $6827 | $6818 | $31044 | $28883 |
| Clinical Solutions | 2722 | 1850 | 7650 | 7097 |
| Other | 435 | 597 | 1826 | 1765 |
| Total revenue | $9984 | $9265 | $40520 | $37745 |

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**Fourth Quarter 2025 Financial Results** 

Total revenue for the fourth quarter 2025 was $10.0 million, up 8% compared to $9.3 million in the fourth quarter 2024. Lab Essentials revenue was $6.8 million in both the fourth quarter 2025 and the fourth quarter 2024. Clinical Solutions revenue was $2.7 million in the fourth quarter 2025, up 47% compared to $1.9 million in the fourth quarter 2024.

Gross profit for the fourth quarter 2025 was $3.2 million, compared to $2.1 million in the fourth quarter 2024. Gross margin for the fourth quarter 2025 was 32.5%, compared to 23.0% in the fourth quarter 2024. The increase in gross margin was driven primarily by higher Clinical Solutions revenue and manufacturing efficiency gains.

Operating expenses for the fourth quarter 2025 were $7.9 million, compared to $7.8 million in the fourth quarter 2024. Excluding the non-recurring charges of $0.5 million in the fourth quarter of 2025 related to non-recurring transaction costs, operating expenses were down $0.4 million. The decrease was driven by an overall net reduction in general and administrative spending, somewhat offset by increased investment in our sales and marketing efforts.

Net loss for the fourth quarter 2025 was $4.8 million, or negative $0.09 per diluted share, compared to $5.7 million, or negative $0.11 per diluted share, for the fourth quarter 2024. Adjusted EBITDA for the fourth quarter 2025 was negative $1.8 million, compared to negative $3.2 million for the fourth quarter 2024.

Cash used in operating activities for the fourth quarter 2025 was $0.5 million, compared to $0.9 million of cash used in operating activities for the fourth quarter 2024. Free Cash Flow was negative $0.8 million for the fourth quarter 2025, compared to negative $1.5 million for the fourth quarter 2024.

A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release.

**Full Year 2025 Financial Results** 

Total revenue was $40.5 million for the year ended December 31, 2025 ("2025"), a 7% increase from $37.7 million for the year ended December 31, 2024 ("2024"). Lab Essentials revenue was $31.0 million in 2025, up 7% compared to $28.9 million in 2024. Clinical Solutions revenue was $7.7 million in 2025, up 8% compared to $7.1 million in 2024.

Gross profit for 2025 was $13.4 million, compared to $7.2 million in 2024. Gross margin for 2025 was 33.2%, compared to 19.2% in 2024. The increase was driven primarily by $2.8 million of non-recurring and non-cash charges in 2024 related to the disposal of expired inventory and write down of excess inventory. Excluding

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those non-recurring and non-cash charges, gross profit would have been $10.0 million and gross margin would have been 26.5%, respectively, in 2024. The improvement in gross profit percentage from 26.5% to 33.2% was driven primarily by higher revenue and manufacturing efficiency gains.

Operating expenses for 2025 were $30.4 million, compared to $33.4 million in 2024. Excluding non-recurring charges of $0.5 million in 2025 and $1.4 million in 2024, operating expenses decreased $2.1 million. The decrease was driven by reduced headcount and spending, primarily on facility costs, insurance, freight, depreciation, and professional fees, as well as by lower stock-based compensation expense due to one-time costs incurred in connection with the stock option repricing that occurred in 2024.

Net loss for 2025 was $17.3 million, or negative $0.32 per diluted share, compared to $26.7 million, or negative $0.57 per diluted share, for 2024. Adjusted EBITDA for 2025 was negative $6.7 million, compared to negative $14.5 million for 2024. Excluding the $2.8 million inventory charge, Adjusted EBITDA would have been negative $11.7 million for 2024.

Cash used in operating activities for 2025 was $8.6 million, compared to $12.4 million of cash used in operating activities for 2024. Free Cash Flow was negative $9.8 million for 2025, compared to negative $13.5 million for 2024.

A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release.

**2026 Outlook**

Teknova anticipates total revenue of $42 million to $44 million for the fiscal year ending December 31, 2026 ("2026"). The Company also anticipates Free Cash Outflow of less than $10 million for 2026.

**Upcoming Investor Conference Attendance**

TD Cowen 46th Annual Health Care Conference (Boston, MA)

Wednesday, March 4, 2026 at 11:50 a.m. ET

KeyBanc Capital Markets Healthcare Forum (Virtual)

Wednesday, March 18, 2026 at 11:15 a.m. ET

Sidoti Small Cap Conference (Virtual)

Thursday, March 19, 2026 at 1:00 p.m. ET

38th Annual Roth Conference (Laguna Niguel, CA)

Monday, March 23, 2026 (Time TBD)

**Conference Call and Webcast** 

Teknova will host a webcast and conference call on Thursday, February 26, 2026, beginning at 5:30 p.m. Eastern Time. To access the live webcast, listeners can log onto the call from the Investor Relations section of the Teknova website or by using this link. If you would like to participate in the call, please register for the webcast here to receive a unique PIN number and dial-in information. The webcast will be available for replay on the Company's website approximately two hours after the event.

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**About Teknova**

Teknova makes solutions possible. Since 1996, Teknova has been innovating the manufacture of critical reagents for the life sciences industry to accelerate the discovery and development of novel breakthroughs that will help people live longer, healthier lives. We offer fully customizable solutions for every stage of the workflow, supporting industry leaders in genomics, molecular diagnostics, and emerging therapeutic modalities. Our fast turnaround of high-quality agar plates, microbial culture and cryopreservation media, buffers and reagents, and water helps our customers scale seamlessly from RUO to GMP. Headquartered in Hollister, California, with over 180,000 square feet of state-of-the-art facilities, Teknova's modular manufacturing platform was designed by our team of scientists, engineers, and quality control experts to efficiently produce the foundational ingredients for the discovery and commercialization of next-generation therapies.

**Non-GAAP Financial Measures**

This press release contains financial measures that have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP). Teknova uses the following non-GAAP financial measures in assessing the performance of its business and the effectiveness of its business strategies: (a) Adjusted EBITDA and (b) Free Cash Flow (Outflow).

Teknova defines Adjusted EBITDA as net income (loss) adjusted for interest income (expense), net, provision for (benefit from) income taxes, depreciation expense, amortization of intangible assets, and stock-based compensation expense. Adjusted EBITDA reflects further adjustments to eliminate the impact of certain items, including certain non-cash and other items that Teknova does not consider representative of its ongoing operating performance.

Teknova defines Free Cash Flow (Outflow) as cash provided by (used in) operating activities less purchases of property, plant, and equipment.

Teknova provides Adjusted EBITDA and Free Cash Flow (Outflow) in this press release because Teknova believes that analysts, investors, and other interested parties frequently use these measures to evaluate companies in Teknova's industry and that such measures facilitate comparisons on a consistent basis across reporting periods. Teknova also believes such measures are helpful in highlighting trends in Teknova's operating results because they exclude items that are not indicative of Teknova's core operating performance. Investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures presented by Teknova may be different from the non-GAAP financial measures used by other companies.

A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release.

**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 Teknova's anticipated total revenue, including our expectations for 2026 revenue and Free Cash Outflow guidance, and other statements about

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Teknova's business prospects, including about Teknova's profitability, strategy of managing operating expenses, and long-term growth strategy. 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 risks and uncertainties, all of which are difficult to predict and many of which are beyond Teknova's control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the fact that the Company's fourth quarter and year-end financial closing procedures, annual accounting procedures and adjustments, and annual audit of its financial statements are not yet complete; demand for Teknova's products (including the potential delay to or pausing of customer orders); Teknova's assessment of fundamental indicators of future demand across its target customer base; Teknova's cash flows and revenue growth rate; Teknova's supply chain, sourcing, manufacturing, and warehousing; inventory management; risks related to global economic and marketplace uncertainties, including those related to the conflicts in Ukraine and the Middle East; potential acquisitions and integration of other companies; and other factors discussed in the "Risk Factors" section of Teknova's most recent periodic reports filed with the Securities and Exchange Commission ("SEC"), including in Teknova's Annual Report on Form 10-K for the year ended December 31, 2024, and subsequent Quarterly Reports on Form 10-Q filed with the SEC, all of which you may obtain for free on the SEC's website at www.sec.gov. Although Teknova believes that the expectations reflected in its forward-looking statements are reasonable, Teknova does not know whether its expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which Teknova makes only as of the date hereof, even if they are repeated by Teknova subsequently. Teknova does not intend and shall have no obligation to update, amend, or clarify these forward-looking statements, except as may be required under applicable securities laws.

**Investor Contact**

Matt Lowell

Chief Financial Officer

matt.lowell@teknova.com

+1 831-637-1100

**Media Contact**

Jennifer Henry

Senior Vice President, Marketing

jenn.henry@teknova.com

+1 831-313-1259

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**ALPHA TEKNOVA, INC.**

**Condensed Statements of Operations**

**(Unaudited)**

**(In thousands, except share and per share data)**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended <br>December 31,** | **For the Three Months Ended <br>December 31,** | **For the Twelve Months Ended <br>December 31,** | **For the Twelve Months Ended <br>December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Revenue | $9984 | $9265 | $40520 | $37745 |
| Cost of sales | 6740 | 7137 | 27079 | 30514 |
| Gross profit | 3244 | 2128 | 13441 | 7231 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 522 | 594 | 2197 | 2759 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 1794 | 1557 | 6754 | 6320 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 5250 | 5318 | 20318 | 23150 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangible assets | 287 | 287 | 1148 | 1148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 7853 | 7756 | 30417 | 33377 |
| Loss from operations | (4609) | (5628) | (16976) | (26146) |
| Other expenses, net |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | (211) | (129) | (710) | (687) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other adjustment to loan exit fee |  |  | 485 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses, net | (211) | (129) | (225) | (687) |
| Loss before income taxes | (4820) | (5757) | (17201) | (26833) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for (benefit from) income taxes | (62) | (38) | 58 | (88) |
| Net loss | $(4758) | $(5719) | $(17259) | $(26745) |
| Net loss per share—basic and diluted | $(0.09) | $(0.11) | $(0.32) | $(0.57) |
| Weighted average shares used in computing net loss per share—basic and diluted | 53543334 | 53374839 | 53483075 | 46745905 |

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**ALPHA TEKNOVA, INC.**

**Condensed Balance Sheets**

**(Unaudited)**

**(In thousands)**

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| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2024** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $5912 | $3708 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments, held - to-maturity | 15426 | 26688 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 4618 | 4312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | 7054 | 6801 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 1501 | 1267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 34511 | 42776 |
| Property, plant, and equipment, net | 41733 | 45753 |
| Operating right-of-use lease assets | 14112 | 15767 |
| Intangible assets, net | 11943 | 13091 |
| Other non-current assets | 1285 | 1382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $103584 | $118769 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $1378 | $825 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 4283 | 4541 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of operating lease liabilities | 1876 | 1800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt |  | 4045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 7537 | 11211 |
| Deferred tax liabilities | 879 | 827 |
| Other accrued liabilities |  | 10 |
| Long-term debt, net | 13123 | 9443 |
| Long-term operating lease liabilities | 13270 | 14884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 34809 | 36375 |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 204564 | 200924 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (135790) | (118531) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 68775 | 82394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $103584 | $118769 |

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**ALPHA TEKNOVA, INC.**

**Condensed Statements of Cash Flows** 

**(Unaudited)**

**(In thousands)**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended <br>December 31,** | **For the Three Months Ended <br>December 31,** | **For the Twelve Months Ended <br>December 31,** | **For the Twelve Months Ended <br>December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Operating activities:** |  |  |  |  |
| Net loss | $(4758) | $(5719) | $(17259) | $(26745) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bad debt expense | (3) | 69 | 68 | 130 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory reserve | 458 | 314 | 2115 | 4549 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 1581 | 1645 | 6342 | 6578 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 777 | 766 | 3429 | 3666 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes | (67) | (40) | 52 | (92) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest income on short-term investments | 37 | 49 | 29 | (69) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of discount on short-term investments | (106) | (344) | (614) | (344) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt financing costs | 47 | 103 | 220 | 394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other adjustment to loan exit fee |  |  | (485) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash lease expense | 25 | 42 | 117 | 182 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on disposal of property, plant, and equipment |  | 184 | 19 | 233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | 520 | 224 | (374) | (494) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (598) | 559 | (2368) | 244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 897 | 925 | (567) | (18) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets | 30 | 136 | 97 | 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 226 | (164) | 470 | (594) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 472 | 335 | 73 | (389) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other |  | (20) | (10) | (92) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash used in operating activities | (462) | (936) | (8646) | (12391) |
| **Investing activities:** |  |  |  |  |
| Purchases of short-term investments | (3445) | (4847) | (17153) | (30275) |
| Maturities of short-term investments | 7000 | 4000 | 29000 | 4000 |
| Proceeds from sale of property, plant, and equipment |  |  |  | 125 |
| Purchases of property, plant, and equipment | (348) | (567) | (1148) | (1125) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash provided by (used in) investing activities | 3207 | (1414) | 10699 | (27275) |
| **Financing activities:** |  |  |  |  |
| Proceeds from equity financing, net |  |  |  | 15104 |
| Proceeds from long-term debt |  |  | 1110 |  |
| Payment of exit fee costs |  |  | (1110) |  |
| Payment of debt issuance costs |  |  | (100) | (25) |
| Proceeds from financed insurance premiums |  |  | 333 | 385 |
| Repayment of financed insurance premiums | (143) | (166) | (293) | (738) |
| Proceeds from exercise of stock options | 51 | 25 | 100 | 29 |
| Proceeds from issuance of common stock under employee stock purchase plan | 55 | 54 | 111 | 135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash provided by (used in) financing activities | (37) | (87) | 151 | 14890 |
| Change in cash and cash equivalents | 2708 | (2437) | 2204 | (24776) |
| Cash and cash equivalents at beginning of period | 3204 | 6145 | 3708 | 28484 |
| Cash and cash equivalents at end of period | $5912 | $3708 | $5912 | $3708 |

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**ALPHA TEKNOVA, INC.**

**Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures**

**(Unaudited)**

**(In thousands)**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended <br>December 31,** | **For the Three Months Ended <br>December 31,** | **For the Twelve Months Ended <br>December 31,** | **For the Twelve Months Ended <br>December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Net loss – as reported | $(4758) | $(5719) | $(17259) | $(26745) |
| Add back: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | (211) | (129) | (710) | (687) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for (benefit from) income taxes | (62) | (38) | 58 | (88) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation expense | 1294 | 1358 | 5194 | 5430 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangible assets | 287 | 287 | 1148 | 1148 |
| **EBITDA** | $**(3028)** | $**(3983)** | $**(10149)** | $**(19568)** |
| Other and non-recurring expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 777 | 766 | 3429 | 3666 |
| &nbsp;&nbsp;&nbsp;&nbsp;Severance pay and other termination benefits |  |  |  | 1287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other adjustment to loan exit fee |  |  | (485) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction costs | 482 |  | 482 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss contingency |  |  |  | 73 |
| **Adjusted EBITDA** | $**(1769)** | $**(3217)** | $**(6723)** | $**(14542)** |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended <br>December 31,** | **For the Three Months Ended <br>December 31,** | **For the Twelve Months Ended <br>December 31,** | **For the Twelve Months Ended <br>December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Cash used in operating activities | $(462) | $(936) | $(8646) | $(12391) |
| Purchases of property, plant, and equipment | (348) | (567) | (1148) | (1125) |
| **Free Cash Flow** | $**(810)** | $**(1503)** | $**(9794)** | $**(13516)** |

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