Teknova reports FY22 revenue $41.4M (+12% YoY); net loss $47.5M; guides FY23 rev $42-46M

Total revenue for the fourth quarter 2022 was $7.9 million, down 22% compared to $10.1 million in the fourth quarter 2021. Revenue for the fourth quarter 2022 was $7.9 million, an 18% decrease from $9.6 million in the fourth quarter 2021, excluding Sample Transport. Gross profit for the fourth quarter 2022 was $2.1 million, compared to $5.0 million in the fourth quarter 2021. Gross margin for the fourth quarter 2022 was 26.7%, compared to 49.2% in the fourth quarter 2021. The lower gross margin for the fourth quarter 2022 as compared to the fourth quarter 2021 primarily reflects additional headcount resulting in higher labor costs and supplies. Operating expenses for the fourth quarter 2022 were $16.3 million, compared to $9.7 million in the fourth quarter 2021. The increase was primarily related to a one-time, $4.2 million non-cash impairment charge related to long-lived assets, coupled with additional headcount, stock-based compensation expense, and marketing costs. Net loss for the

Teknova anticipates total revenue of $42 million to $46 million for the fiscal year ending December 31, 2023 (“2023”), which assumes roughly flat performance in Lab Essentials and 20-50% growth in Clinical Solutions. The Company also anticipates free cash outflow of approximately $30 million for 2023.