Earnings call: Teknova sees modest revenue growth in Q1 2024
Teknova , a provider of clinical and lab solutions, has reported a 2% year-over-year increase in revenue for the first quarter of 2024, marking a solid start to the year. The company's revenue also showed an 18% sequential improvement from the fourth quarter of 2023.
The company expects around 70% of incremental revenue to contribute to gross profit as more products go through the new facility. InvestingPro Tips highlight that Teknova's shareholder yield is high, which may be attractive to investors seeking companies that prioritize shareholder returns. On the other hand, the company is quickly burning through cash and analysts do not expect it to be profitable this year. This is a critical point for potential investors to consider, as it may impact the company's ability to sustain operations and grow in the long term.
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