# EDGAR Filing Document

**Accession Number:** 0001850902
**File Stem:** 0000950170-25-105005
**Filing Date:** 2025-8
**Character Count:** 26250
**Document Hash:** 798ecab917ae329dd1b5713aabc4a326
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-105005.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0000950170-25-105005

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20250807

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

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**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:** 251193980

**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):** August 07, 2025<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 |

---

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 August 7, 2025, the Company issued a press release announcing its financial results for the second quarter ended June 30, 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 August 7, 2025.</u>](tkno-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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\* Non-material schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Registrant hereby undertakes to furnish supplemental copies of any of the omitted schedules and exhibits upon request by the SEC.

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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: | August 7, 2025 | 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 Second Quarter 2025 Financial Results**

*Second quarter 2025 total revenue was $10.3 million, up 7% from prior year*

*Achieves four consecutive quarters of year-over-year revenue growth*

*Company reaffirms 2025 revenue guidance of $39-42 million*

**HOLLISTER, Calif., August 7, 2025** – 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 second quarter ended June 30, 2025.

"Despite continued uncertainty in the macroenvironment, we delivered another strong quarter of results, with improvements in both the top and bottom lines," said Stephen Gunstream, President and Chief Executive Officer at Teknova. "We continue to believe that the investments we've made in our operational and commercial infrastructure, combined with our diverse product portfolio and customer base, position Teknova for sustainable, above-market growth over the long-term."

Matt Lowell, Teknova's Chief Financial Officer, added, "Compared to 2024, we delivered 7% revenue growth in the second quarter 2025 along with significant improvements in adjusted EBITDA and free cash outflow. We believe the Company is well positioned to maintain its momentum. We therefore reiterate our 2025 revenue guidance of $39-42 million and continue to anticipate full-year free cash outflow of less than $12 million," he explained.

**Corporate and Financial Updates**

• Second quarter 2025 total revenue of $10.3 million, up 7% from the second quarter 2024

• Revenue was up year-over-year for each of the past four consecutive quarters

• Total cash and short-term investments were $24.0 million and total borrowings were $13.2 million at the end of the second quarter 2025

**Revenue for the Second Quarter 2025**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended <br>June 30,** | **For the Three Months Ended <br>June 30,** | **For the Six Months Ended <br>June 30,** | **For the Six Months Ended <br>June 30,** |
| **(Dollars in thousands)** | **2025** | **2024** | **2025** | **2024** |
| Lab Essentials | $7792 | $7638 | $15909 | $14904 |
| Clinical Solutions | 2060 | 1565 | 3222 | 3283 |
| Other | 435 | 411 | 951 | 717 |
| Total revenue | $10287 | $9614 | $20082 | $18904 |

---

**Second Quarter 2025 Financial Results** 

Total revenue for the second quarter 2025 was $10.3 million, up 7% compared to $9.6 million in the second quarter 2024. Lab Essentials revenue was $7.8 million in the second quarter 2025, up 2% compared to $7.6

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million in the second quarter 2024. Clinical Solutions revenue was $2.1 million in the second quarter 2025, up 32% compared to $1.6 million in the second quarter 2024.

Gross profit for the second quarter 2025 was $4.0 million, compared to $2.8 million in the second quarter 2024. Gross margin for the second quarter 2025 was 38.7%, compared to 29.2% in the second quarter 2024. The increase in gross margin was driven by manufacturing efficiency gains and higher revenue.

Operating expenses for the second quarter 2025 were $7.4 million, compared to $7.9 million in the second quarter 2024. Excluding a non-recurring charge of $0.1 million recorded in the second quarter of 2024 related to a loss contingency, operating expenses were down $0.5 million. The decrease was driven by reduced spending, primarily on insurance and facility costs.

Net loss for the second quarter 2025 was $3.6 million, or negative $0.07 per diluted share, compared to $5.4 million, or negative $0.13 per diluted share, for the second quarter 2024.

Adjusted EBITDA for the second quarter 2025 was negative $0.8 million, compared to negative $2.6 million for the second quarter 2024. Free Cash Flow was negative $2.3 million for the second quarter 2025, compared to negative $3.0 million for the second quarter 2024. A full reconciliation of these non-GAAP measures to the most comparable GAAP measures is included at the end of this release.

**Reiterates 2025 Outlook**

Teknova reiterates its fiscal 2025 outlook for revenue and free cash outflow. The Company continues to anticipate total revenue of $39 million to $42 million for the fiscal year ending December 31, 2025. The Company also anticipates free cash outflow of less than $12 million for 2025.

**Conference Call and Webcast** 

Teknova will host a webcast and conference call on Thursday, August 7, 2025, beginning at 5:00 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.

**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 molecular diagnostics, synthetic biology, 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.

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**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.

Teknova defines Adjusted EBITDA as net 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 continues to define Free Cash Flow as cash used in operating activities plus purchases of property, plant, and equipment.

Teknova provides Adjusted EBITDA and Free Cash Flow 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 expectations for 2025 revenue and free cash outflow guidance, and other statements about 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, 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; reliance on a limited number of customers for a high percentage of Teknova's revenue; potential acquisitions and integration of other companies; and other factors discussed in the "Risk Factors" section of Teknova's most recent periodic

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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 speak only as of the date hereof, even if subsequently made available by Teknova on its website or otherwise. Teknova does 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 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>June 30,** | **For the Three Months Ended <br>June 30,** | **For the Six Months Ended <br>June 30,** | **For the Six Months Ended <br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Revenue | $10287 | $9614 | $20082 | $18904 |
| Cost of sales | 6303 | 6810 | 13091 | 13891 |
| Gross profit | 3984 | 2804 | 6991 | 5013 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 581 | 678 | 1133 | 1538 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 1573 | 1456 | 3213 | 3123 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 4929 | 5483 | 10421 | 12864 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangible assets | 287 | 287 | 574 | 574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 7370 | 7904 | 15341 | 18099 |
| Loss from operations | (3386) | (5100) | (8350) | (13086) |
| Other income (expenses), net |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | (165) | (272) | (309) | (417) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other adjustment to loan exit fee |  |  | 485 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income (expenses), net | (165) | (272) | 176 | (417) |
| Loss before income taxes | (3551) | (5372) | (8174) | (13503) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for (benefit from) income taxes | 19 | (8) | 41 | (42) |
| Net loss | $(3570) | $(5364) | $(8215) | $(13461) |
| Net loss per share—basic and diluted | $(0.07) | $(0.13) | $(0.15) | $(0.33) |
| Weighted average shares used in computing net loss per share—basic and diluted | 53448736 | 40853882 | 53435210 | 40829383 |

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**ALPHA TEKNOVA, INC.**

**Condensed Balance Sheets**

**(Unaudited)**

**(In thousands)**

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| | | |
|:---|:---|:---|
|  | **As of June 30,** | **As of December 31,** |
|  | **2025** | **2024** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $3276 | $3708 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments, held - to-maturity | 20724 | 26688 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 5140 | 4312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | 7610 | 6801 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 1307 | 1267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 38057 | 42776 |
| Property, plant, and equipment, net | 43605 | 45753 |
| Operating right-of-use lease assets | 14960 | 15767 |
| Intangible assets, net | 12517 | 13091 |
| Other non-current assets | 1348 | 1382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $110487 | $118769 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $1204 | $825 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 3388 | 4541 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of operating lease liabilities | 1886 | 1800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt |  | 4045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 6478 | 11211 |
| Deferred tax liabilities | 868 | 827 |
| Other accrued liabilities |  | 10 |
| Long-term debt, net | 13032 | 9443 |
| Long-term operating lease liabilities | 14052 | 14884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 34430 | 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 | 202802 | 200924 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (126746) | (118531) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 76057 | 82394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $110487 | $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>June 30,** | **For the Three Months Ended <br>June 30,** | **For the Six Months Ended <br>June 30,** | **For the Six Months Ended <br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Operating activities:** |  |  |  |  |
| Net loss | $(3570) | $(5364) | $(8215) | $(13461) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bad debt expense | 4 | 49 | 49 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory reserve | 488 | 987 | 925 | 896 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 1590 | 1626 | 3170 | 3262 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 950 | 833 | 1802 | 2140 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes | 20 | (9) | 41 | (44) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest income on short-term investments | 108 |  | 54 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of discount on short-term investments | (171) |  | (355) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt financing costs | 43 | 104 | 129 | 188 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other adjustment to loan exit fee |  |  | (485) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash lease expense | 31 | 47 | 61 | 94 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on disposal of property, plant, and equipment | 19 |  | 19 | 49 |
| &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 | 472 | (86) | (877) | (705) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (1525) | (767) | (1734) | (289) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | (36) | 239 | (40) | 413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets | (29) | 89 | 34 | 206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (360) | (522) | 380 | (389) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | (135) | (40) | (1152) | (1764) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other |  | (24) | (10) | (48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash used in operating activities | (2101) | (2838) | (6204) | (9396) |
| **Investing activities:** |  |  |  |  |
| Purchases of short-term investments | (7765) |  | (9735) |  |
| Maturities of short-term investments | 10000 |  | 16000 |  |
| Proceeds from sale of property, plant, and equipment |  |  |  | 125 |
| Purchases of property, plant, and equipment | (207) | (115) | (413) | (227) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash provided by (used in) investing activities | 2028 | (115) | 5852 | (102) |
| **Financing activities:** |  |  |  |  |
| Proceeds from long-term debt |  |  | 1110 |  |
| Payment of exit fee costs |  |  | (1110) |  |
| Payments related to equity financing |  |  |  | (37) |
| Repayment of financed insurance premiums |  | (103) | (56) | (409) |
| Proceeds from exercise of stock options | 16 |  | 20 |  |
| Proceeds from issuance of common stock under employee stock purchase plan | 56 | 81 | 56 | 81 |
| Payment of debt issuance costs | (100) | (25) | (100) | (25) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash used in financing activities | (28) | (47) | (80) | (390) |
| Change in cash and cash equivalents | (101) | (3000) | (432) | (9888) |
| Cash and cash equivalents at beginning of period | 3377 | 21596 | 3708 | 28484 |
| Cash and cash equivalents at end of period | $3276 | $18596 | $3276 | $18596 |

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**ALPHA TEKNOVA, INC.**

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

**(Unaudited)**

**(In thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended <br>June 30,** | **For the Three Months Ended <br>June 30,** | **For the Six Months Ended <br>June 30,** | **For the Six Months Ended <br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Net loss – as reported | $(3570) | $(5364) | $(8215) | $(13461) |
| Add back: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | (165) | (272) | (309) | (417) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for (benefit from) income taxes | 19 | (8) | 41 | (42) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation expense | 1303 | 1339 | 2596 | 2688 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangible assets | 287 | 287 | 574 | 574 |
| **EBITDA** | $**(1796)** | $**(3474)** | $**(4695)** | $**(9824)** |
| Other and non-recurring expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 950 | 833 | 1802 | 2140 |
| &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;Loss contingency |  | 73 |  | 73 |
| **Adjusted EBITDA** | $**(846)** | $**(2568)** | $**(3378)** | $**(6324)** |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended <br>June 30,** | **For the Three Months Ended <br>June 30,** | **For the Six Months Ended <br>June 30,** | **For the Six Months Ended <br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Cash used in operating activities | $(2101) | $(2838) | $(6204) | $(9396) |
| Purchases of property, plant, and equipment | (207) | (115) | (413) | (227) |
| **Free Cash Flow** | $**(2308)** | $**(2953)** | $**(6617)** | $**(9623)** |

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