Alpha Teknova sees FY23 revenue $42M-$46M, consensus $46.27M

Teknova anticipates total revenue of $42M to $46M for the fiscal year ending December 31, which assumes roughly flat performance in Lab Essentials and 20-50% growth in Clinical Solutions. The Company also anticipates free cash outflow of approximately $30M for 2023. "We achieved our operational objectives in 2022, positioning the company for significant and sustainable long-term growth," said Stephen Gunstream, President and Chief Executive Officer of Teknova. "Despite the expected short-term market related headwinds, the outlook for our end-markets remains positive and we are committed to executing on our strategy. In 2023, we will focus on scaling the business and we expect to deliver revenue growth in line with our long-term expectation of 25% or more beginning in the second half of 2023." "We are completing a two-year period of planned investments and we’ve also enacted a number of measures to appropriately manage operating costs in 2023 and beyond," explained Matt Lowell, Chief Financial Officer of Teknova. "As such, we expect our capital expenditures this year will be significantly lower than in 2022 and our operating expenses will be flat compared to 2022, excluding non-recurring charges. We therefore anticipate full-year free cash outflow of approximately $30 million and are comfortable with our liquidity position."