0000950170-23-063053 | 10-Q | XBRL Viewer

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Stock-Based Compensation - Schedule of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding at January 1, 2023, Beginning balance	28,071
RSU, Granted	174,595
RSU, Vested	(28,071)
RSU, Forfeited	(18,815)
Outstanding at September 30,2023, Ending balance	155,780	28,071
Vested and expected to vest at September 30, 2023	155,780
Weighted Average Grant Fair Value, Beginning Balance	$ 7.43
Weighted Average Grant Fair Value, Granted	4.93
Weighted Average Grant Fair Value, Vested	7.43
Weighted Average Grant Fair Value, Forfeited	3.93
Weighted Average Grant Fair Value, Ending Balance	5.05	$ 7.43
Weighted Average Exercise Price, Vested and expected to vest, end of period	$ 5.05
Weighted Average Remaining Contractual Term (in years), Options outstanding	1 year 7 months 9 days	5 months 1 day
Weighted Average Remaining Contractual Term, Vested and expected to vest at September 30, 2023	1 year 7 months 9 days
Aggregate Intrinsic Value, Outstanding	$ 435	$ 158
Aggregate Intrinsic Value, Vested and expected to vest at September 30, 2023	$ 435

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Summary of cash, cash equivalents and restricted cash

The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the balance sheets (in thousands). Restricted cash represents amounts held in an escrow account related to payments made in consideration for the early termination of the lease as described below in Note 14. Related Parties.


	As of September 30, 2023		As of December 31, 2022
Cash and cash equivalents	$	32,079	$	42,236
Restricted cash included in other current assets		33		—
Total cash, cash equivalents, and restricted cash	$	32,112	$	42,236

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense related to employee stock option	$ 0.9	$ 0.9	$ 2.8	$ 2.5
Unrecognized stock-based compensation expense	7.4		$ 7.4
Weighted-average recognition period			2 years 10 months 28 days
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense related to employee stock option	0.1		$ 0.2
Unrecognized stock-based compensation expense	$ 0.6		$ 0.6
Weighted-average recognition period			2 years 9 months
2021 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Discount from market price, offering date			85.00%
Discount from market price, purchase date			85.00%
Common stock, new shares issued	0	0	82,034	13,235
Stock-based compensation expense related to employee stock option	$ 0.1		$ 0.1
Amount withheld for employees	$ 0.1		$ 0.1

Net Loss Per Share - Summary of Common Stock Equivalents Excluded from Calculation of Diluted Loss per Share Attributable to Common Stockholders (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Employee share-based awards to purchase common stock [Member]
Stock options to purchase common stock	4,019,909	3,311,656	4,000,857	3,133,232

Intangible Assets, Net

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Note 8. Intangible Assets, Net

The following is a summary of intangible assets with definite and indefinite lives (in thousands):


	Balance at September 30, 2023						Balance at December 31, 2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Definite Lived:
Customer relationships	$	9,180	$	5,403	$	3,777	$	9,180	$	4,543	$	4,637
Indefinite Lived:
Tradename		12,919		—		12,919		12,919		—		12,919
Total intangible assets	$	22,099	$	5,403	$	16,696	$	22,099	$	4,543	$	17,556

For each of the three months ended September 30, 2023 and 2022, amortization expense was $0.3 million and for each of the nine months ended September 30, 2023 and 2022, amortization expense was $0.9 million.

As of September 30, 2023, the remaining weighted-average useful life of definite lived intangible assets was 3.3 years. The estimated future amortization expense of intangible assets with definite lives is as follows (in thousands):


	Amount
Remainder of 2023	$	288
2024		1,148
2025		1,148
2026		1,148
2027		45
Estimated future amortization expense of definite-lived intangible assets	$	3,777

Concentrations of Risk - Summary of inventory purchases and outstanding balance of accounts payable (Details) - Customers Concentration Risk [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Distributor supplier A \| Total Accounts Payable [Member]
Product Information [Line Items]
Concentration Risk Percentage	12.00%		12.00%		11.00%
Distributor supplier A \| Inventory Purchases [Member]
Product Information [Line Items]
Concentration Risk, Percentage	46.00%	37.00%	39.00%	36.00%
Direct supplier A \| Inventory Purchases [Member]
Product Information [Line Items]
Concentration Risk, Percentage			10.00%
Direct supplier B \| Inventory Purchases [Member]
Product Information [Line Items]
Concentration Risk, Percentage		24.00%		18.00%
Direct supplier C \| Inventory Purchases [Member]
Product Information [Line Items]
Concentration Risk, Percentage	13.00%		10.00%

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Provision for (benefit from) income taxes	$ 9	$ (374)	$ 6	$ (1,128)
Effective Tax Rate	(0.10%)	(1.60%)	0.00%	3.20%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Leases

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Leases

Note 7. Leases

The Company leases office space, warehouse and manufacturing space, and equipment. The Company’s lease agreements have remaining lease terms of one year to 14 years, and some of these leases have renewal and termination options exercisable at the Company’s election. Terms and conditions to extend or terminate such leases are recognized as part of the right-of-use assets and lease liabilities where reasonably certain to be exercised. All of the Company’s leases are operating leases.

Operating lease expense was $0.7 million and $2.2 million for the three and nine months ended September 30, 2023, respectively, and operating lease expense was $0.8 million and $2.5 million for the three and nine months ended September 30, 2022, respectively. Cash paid for amounts included in the measurement of the lease liabilities was $0.6 million and $2.1 million for the three and nine months ended September 30, 2023, respectively, and cash paid for amounts included in the measurement of the lease liabilities was $0.7 million and $2.1 million for the three and nine months ended September 30, 2022, respectively. The weighted-average discount rate was 5.0% and the weighted-average remaining lease term was 9.0 years as of September 30, 2023.

Maturities of operating lease liabilities at September 30, 2023 were as follows (in thousands):


	Amount
Remainder of 2023	$	647
2024		2,601
2025		2,354
2026		2,413
2027		2,416
Thereafter		11,917
Total lease payments		22,348
Less: imputed interest		(4,705	)
Present value of lease liabilities	$	17,643

Related Parties - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Meeches L L C [Member]
Related Party Transaction [Line Items]
Payment for Rent Expense	$ 0.0	$ 0.1	$ 0.1	$ 0.2

Nature of the Business

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of the Business

Note 1. Nature of the Business

Alpha Teknova, Inc. (referred to herein as the Company or Teknova), produces critical reagents for the discovery, development, and commercialization of novel therapies, vaccines, and molecular diagnostics. Product offerings include pre-poured media plates for cell growth and cloning; liquid cell culture media and supplements for cellular expansion; and molecular biology reagents for sample manipulation, resuspension, and purification. Teknova supports customers spanning the life sciences market, including pharmaceutical and biotechnology companies, contract development and manufacturing organizations, in vitro diagnostic franchises, and academic and government research institutions, with catalog and custom, made-to-order products.

Teknova manufactures its products at its Hollister, California, headquarters and stocks inventory of raw materials, components, and finished goods at that location. The Company ships products directly from its warehouse in Hollister, California.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Note 11. Stock-Based Compensation

Equity Incentive Plans

The Company maintains a stock incentive plan, that permits the granting of incentive stock options or nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance awards, and other stock-based awards. The equity-based awards for employees will vest over a four-year period, pursuant to two different vesting schedules. For initial equity-based awards granted to employees, the first vest is generally a one-year cliff vest, followed by monthly vesting for the final three years. Thereafter, annual equity-based awards granted to employees typically vest monthly over the four-year vest term. The initial equity-based awards granted to the Company’s non-employee, independent directors upon appointment to the board of directors will vest over a three-year period, with the first vest being a one-year cliff, followed by monthly vesting over the remaining two years. Thereafter, annual equity-based awards granted to the Company’s non-employee, independent directors will cliff vest after one year from the date of grant.

Stock Options

The following table summarizes the stock option activity for the nine months ended September 30, 2023 (in thousands, except share and per share data):


	Number of Shares			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2023		3,846,532		$	7.02		8.31	$	9,083
Granted		604,835		$	5.05
Exercised		(51,774	)	$	1.47
Forfeited		(263,348	)	$	10.24
Expired		(42,807	)	$	15.33
Outstanding at September 30, 2023		4,093,438		$	6.51		7.71	$	3,477
Exercisable at September 30, 2023		2,008,038		$	5.66		7.27	$	2,309
Vested and expected to vest at September 30, 2023		3,808,756		$	6.96		7.89	$	2,811

The weighted average assumptions used in the Black-Scholes pricing model for stock options granted during the three and nine months ended September 30, 2023, were as follows:


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2023			2022			2023			2022
Estimated dividend yield		-	%		-	%		-	%		-	%
Weighted-average expected stock price volatility		35.43	%		34.27	%		35.08	%		33.22	%
Weighted-average risk-free interest rate		4.54	%		3.49	%		4.15	%		2.19	%
Expected average term of options (in years)		3.00			6.25			5.95			6.25
Weighted-average fair value of common stock	$	1.95		$	4.84		$	5.05		$	14.27
Weighted-average fair value per option	$	0.57		$	1.95		$	2.12		$	5.23

Restricted Stock

The following table summarizes the restricted stock unit activity for the nine months ended September 30, 2023 (in thousands, except share and per share data):


	Number of Shares			Weighted Average Grant Date Fair Value per Share		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2023		28,071		$	7.43		0.42	$	158
Granted		174,595		$	4.93
Vested		(28,071	)	$	7.43
Forfeited		(18,815	)	$	3.93
Outstanding at September 30, 2023		155,780		$	5.05		1.61	$	435
Vested and expected to vest at September 30, 2023		155,780		$	5.05		1.61	$	435

Employee Stock Purchase Plan

The Company also maintains an employee stock purchase plan (ESPP) that authorizes the issuance of shares of common stock pursuant to purchase rights granted to eligible employees. Unless otherwise determined by the Company’s board of directors, shares of the Company’s common stock will be purchased for the accounts of employees participating in the Company’s ESPP at a price per share equal to the lesser of (i) 85% of the fair market value of a share of the Company’s common stock on the first day of an offering; or (ii) 85% of the fair market value of a share of the Company’s common stock on the date of purchase. Offering periods are generally six months long; beginning on May 15, 2023, offering periods begin on June 1 and December 1 of each year. The Company issued zero and 82,034 shares of common stock under the ESPP during the three and nine months ended September 30, 2023,

respectively. The Company issued zero and 13,235 shares of common stock under the ESPP during the three and nine months ended September 30, 2022.

Stock-Based Compensation Expense

Stock-based compensation expense included in the accompanying condensed financial statements was as follows (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of sales	$	36	$	45	$	112	$	108
Research and development		43		40		120		153
Sales and marketing		168		126		492		351
General and administrative		788		757		2,391		2,077
Total stock-based compensation expense	$	1,035	$	968	$	3,115	$	2,689

Stock-based compensation expense related to stock options was $0.9 million and $2.8 million for the three and nine months ended September 30, 2023, respectively, and $0.9 million and $2.5 million for the three and nine months ended September 30, 2022, respectively. Unrecognized compensation expense related to stock options was $7.4 million at September 30, 2023, which is expected to be recognized as expense over the weighted-average period of 2.91 years.

Stock-based compensation expense related to restricted stock units was $0.1 million and $0.2 million for the three and nine months ended September 30, 2023, respectively, and was not significant for each of the three and nine months ended September 30, 2022, respectively. Unrecognized compensation expense related to restricted stock units was $0.6 million at September 30, 2023, which is expected to be recognized as expense over the weighted-average period of 2.75 years.

Stock-based compensation expense related to the ESPP was not significant and $0.1 million for the three and nine months ended September 30, 2023, respectively, and was not significant for either the three or nine months ended September 30, 2022. Total compensation cost related to the ESPP not yet recognized was not significant at September 30, 2023. As of September 30, 2023, $0.1 million has been withheld on behalf of employees for future purchases under the ESPP.

Net Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Computation of Basic And Diluted Net Loss Per Share

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data):


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2023			2022			2023			2022
Net loss	$	(10,153	)	$	(22,474	)	$	(26,124	)	$	(34,174	)
Weighted average shares used in computing net loss per share—basic and diluted		29,956,930			28,090,267			28,810,068			28,059,897
Net loss per share—basic and diluted	$	(0.34	)	$	(0.80	)	$	(0.91	)	$	(1.22	)

Summary of Common Stock Equivalents Excluded from Calculation of Diluted Loss per Share

The following is a summary of the common stock equivalents for the securities outstanding during the respective periods that have been excluded from the computation of diluted net loss per common share, as their effect would be anti-dilutive:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
Employee share-based awards to purchase common stock		4,019,909		3,311,656		4,000,857		3,133,232

Inventories, Net

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Inventories, Net

Note 5. Inventories, Net

Inventories consist of the following (in thousands):


	As of September 30, 2023		As of December 31, 2022
Finished goods, net	$	8,155	$	8,368
Work in process		58		186
Raw materials, net		3,255		3,693
Total inventories, net	$	11,468	$	12,247

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities:
Net loss	$ (26,124)	$ (34,174)
Adjustments to reconcile net loss to net cash used in operating activities:
Bad debt expense	21	34
Inventory reserve	130	178
Depreciation and amortization	4,049	2,272
Stock-based compensation	3,115	2,689
Deferred taxes	5	(1,125)
Amortization of debt financing costs	415	159
Non-cash lease expense	86	256
Loss on disposal of property, plant and equipment	5	210
Long-lived assets impairment	2,195	0
Goodwill impairment	0	16,613
Loss on extinguishment of debt	824	0
Changes in operating assets and liabilities:
Accounts receivable	(721)	(949)
Contract assets	0	(667)
Inventories	649	(5,107)
Income taxes receivable	22	1,068
Prepaid expenses and other current assets	(694)	(1,083)
Other non-current assets	300	(996)
Accounts payable	(948)	969
Accrued liabilities	815	343
Other	(66)	(61)
Cash used in operating activities	(15,922)	(19,371)
Investing activities:
Purchase of property, plant and equipment	(7,622)	(23,419)
Cash used in investing activities	(7,622)	(23,419)
Financing activities:
Proceeds from equity financing	22,915	0
Repayment of long-term debt	(10,000)	0
Proceeds from financed insurance premiums	1,004	0
Repayment of financed insurance premiums	(294)	0
Proceeds from long-term debt	0	5,135
Payment of debt issuance costs	(24)	(151)
Payment of exit fee costs	0	(135)
Payment of ATM Facility costs	(395)	0
Proceeds from exercise of stock options	76	134
Proceeds from issuance of common stock under employee stock purchase plan	138	144
Cash provided by financing activities	13,420	5,127
Change in cash and cash equivalents, and restricted cash	(10,124)	(37,663)
Cash and cash equivalents and restricted cash at beginning of period	42,236	87,518
Cash and cash equivalents and restricted cash at end of period	32,112	49,855
Supplemental cash flow disclosures:
Income taxes paid	0	0
Interest paid, net of amounts capitalized	1,934	0
Capitalized property, plant and equipment included in accounts payable and accrued liabilities	205	3,108
Debt issuance costs included in accrued liabilities	23	0
Offering Costs Included In Accounts Payable And Accrued Liabilities	353	0
Recognition of operating right-of-use lease asset	(1,137)	20,318
Recognition of operating lease liabilities	$ (1,193)	$ 20,587

Concentrations of Risk (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value, Concentration of Risk, Financial Assets, Balance Sheet Groupings [Abstract]

Summary Of Company Revenues And Outstanding Balance Of Accounts Receivable

Customers who accounted for 10% or more of the Company’s revenues and outstanding balance of accounts receivable and contract assets are presented as follows:

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

As of

As of

2023

2022

2023

2022

September 30, 2023

December 31, 2022

Distributor customer A

*

*

*

*

*

15%

Distributor customer B

20%

14%

18%

14%

28%

17%

Direct customer A

*

*

*

*

12%

*

Direct customer B

*

15%

*

*

*

*

Direct customer C

*

13%

*

*

*

*

* Represents less than 10%.

Summary Of Company Inventory Purchases And Outstanding Balance Of Accounts Payable

Suppliers who accounted for 10% or more of the Company’s inventory purchases and outstanding balance of accounts payable are presented as follows:

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

As of

As of

2023

2022

2023

2022

September 30, 2023

December 31, 2022

Distributor supplier A

46%

37%

39%

36%

12%

11%

Direct supplier A

*

*

10%

*

*

*

Direct supplier B

*

24%

*

18%

*

*

Direct supplier C

13%

*

10%

*

*

*

* Represents less than 10%.

Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Payroll-related	$ 3,068	$ 2,796
Property, plant and equipment	110	1,966
Deferred revenue	24	198
Insurance Premiums And Accrued Interest	709	0
Other	1,236	1,243
Total current accrued liabilities	$ 5,147	$ 6,203

Basis of Presentation and Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Basis of Presentation and Summary of Significant Accounting Policies

Basis of Accounting, Presentation and Use of Estimates

The accompanying unaudited condensed interim financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations.

The unaudited condensed financial statements have been prepared on a basis consistent with the audited annual financial statements as of and for the year ended December 31, 2022, and, in the opinion of management, reflect all adjustments, consisting solely of normal recurring adjustments, necessary for the fair presentation of the results for the interim periods presented. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain amounts of assets, liabilities, revenue, expenses, and related disclosures at the date of the financial statements and during the reporting period. The Company’s critical and significant accounting estimates are influenced by the Company’s assessment of the economic environment. Actual results may differ from those estimates. Certain prior period amounts have been reclassified to conform to the current year’s presentation.

These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements and the related notes thereto as of and for the year ended December 31, 2022, included in the Company’s Annual Report on Form 10-K filed with the SEC on March 30, 2023 (the 2022 Annual Report on Form 10-K). Refer to “Notes to Financial Statements—Note 2. Summary of Significant Accounting Policies,” within the 2022 Annual Report on Form 10-K for a full list of the Company’s significant accounting policies. The information in those notes has not changed except as a result of normal adjustments in the interim periods.

Teknova has determined that it operates in one reporting unit, one operating segment, and one reportable segment, as the chief operating decision maker of the Company reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance.

Going Concern

Accounting Standards Codification (ASC) 205-40, Presentation of Financial Statements—Going Concern, requires management to evaluate an entity’s ability to continue as a going concern for the twelve-month period following the date on which the financial statements are available for issuance. Management performed an assessment to determine whether there were conditions or events that, considered individually and in the aggregate, raised substantial doubt about the Company’s ability to continue as a going concern for the twelve-month period following the date on which the accompanying unaudited financial statements are being issued. This assessment indicated certain negative conditions and events, described further below, that raise substantial doubt about the Company’s ability to continue as a going concern.

As of September 30, 2023, the Company had limited capital resources to fund ongoing operations. During the three and nine months ended September 30, 2023, Teknova incurred net losses of $10.2 million and $26.1 million, respectively. In addition, as of September 30, 2023, the Company had an accumulated deficit of $81.1 million and a total principal amount of outstanding borrowings of $12.1 million. As of September 30, 2023, the Company had $42.7 million of working capital, which included $32.1 million in cash and cash equivalents. The Company’s available capital resources may not be sufficient for the Company to continue to meet its

obligations as they become due over the next twelve months if the Company cannot improve its operating results or increase its operating cash inflows. If these capital resources are not sufficient, the Company may need to raise additional capital through the sale of equity or debt securities, enter into strategic business collaboration agreements with other companies, seek other funding facilities, or sell assets. However, there can be no assurance that the Company will be able to accomplish any of the foregoing or do so on favorable terms. If the Company is unable to meet its obligations when they become due over the next twelve months through its available capital resources, or obtain new sources of capital when needed, the Company may have to delay expenditures, reduce the scope of its manufacturing operations, reduce or eliminate one or more of its development programs, make significant changes to its operating plan, or cease its operations.

As disclosed in Note 10. Long-term Debt, Net, the Company is subject to certain financial covenants as set forth in the Amended Credit Agreement (defined in Note 10). These financial covenants include (i) a trailing twelve months minimum net revenue covenant that must be met each calendar month, and (ii) a requirement to maintain a minimum level of cash at all times through the term of the Amended Credit Agreement. The Company was in compliance with its financial covenants as of September 30, 2023; however, the Company continues to experience unfavorable market conditions, like other companies in the industry, which have led the Company to lower its revenue projections. As a result, the Company believes it may be unable to comply with the trailing twelve months revenue covenant for the twelve-month period following the date on which the financial statements are available for issuance. Failing to comply with the monthly revenue covenant would be an event of default under the Amended Credit Agreement and the lender would have the right, but not the obligation, to accelerate the Company's obligations to pay the outstanding balance due and payable under the Term Loan (defined in Note 10). If the Company violates one or more of its covenants under the Amended Credit Agreement and is not able to obtain a waiver from or agree to an accommodation with the lender with respect to any such violation, the Company could be required to pay all or a portion of the outstanding amount under the Term Loan. In that event, the Company may need to seek other sources of capital and there can be no assurances that the Company would be able to do so on acceptable terms.

The accompanying unaudited financial statements have been prepared assuming the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and the satisfaction of liabilities in the normal course of business for one year following the issuance of these unaudited financial statements. As such, the accompanying unaudited financial statements do not include any adjustments relating to the recoverability and classification of assets and their carrying amounts, or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern.

Reduction in Workforce

On February 1, 2023, the Company carried out a reduction in workforce of approximately 40 positions, aimed at reducing operating expenses. The Company incurred $0.7 million of costs in connection with the reduction in workforce related to severance pay and other termination benefits. The costs associated with the reduction in workforce were recorded in the quarter ended March 31, 2023, in general and administrative expenses.

At-the-Market Facility

On March 30, 2023, the Company entered into a sales agreement (the ATM Facility) with Cowen and Company, LLC (Cowen), under which the Company may offer and sell, from time to time, shares of its common stock having aggregate gross proceeds of up to $50.0 million. The issuance and sale of these shares pursuant to the ATM Facility are deemed “at the market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended (the Securities Act), and are registered under the Securities Act. The Company will pay a commission of up to 3.0% of gross sales proceeds of any common stock sold under the ATM Facility. The aggregate market value of shares eligible for sale under the ATM Facility will be subject to the limitations of General Instruction I.B.6 of Form S-3, to the extent required under such instruction. Following the capital raise through offerings described further below, costs capitalized related to the ATM Facility of $0.4 million were written off during the three months ended September 30, 2023, and reflected in general and administrative expenses.

Concurrent Registered Direct Offering and Private Placements

On September 15, 2023, the Company entered into a securities purchase agreement (the Registered Direct Purchase Agreement) in connection with a registered direct offering (the Registered Direct Offering) with certain accredited investors and qualified institutional buyers. On September 15, 2023, the Company also entered into a securities purchase agreement (the PIPE Purchase Agreement and, together with the Registered Direct Purchase Agreement, the Purchase Agreements) and a registration rights agreement (the Registration Rights Agreement) in connection with a concurrent private placement (the PIPE Private Placement) with certain accredited investors and qualified institutional buyers.

Pursuant to the Registered Direct Purchase Agreement, the Company sold 1,086,485 shares of the Company’s common stock, $0.00001 par value per share (the Common Stock) at an offering price of $1.85 per share. Pursuant to the PIPE Purchase Agreement, the Company sold 11,299,993 shares of Common Stock (the PIPE Shares), at the same offering price of $1.85 per share.

The Company’s controlling stockholder, Telegraph Hill Partners Management Company LLC, through its affiliates Telegraph Hill Partners IV, L.P. and THP IV Affiliates Fund, LLC, the Company's President and Chief Executive Officer and a member of its board of directors, Stephen Gunstream, the Company's Chief Financial Officer, Matthew Lowell, and the Company's General Counsel and Chief Compliance Officer, Damon Terrill, and the Mackowski Family Trust, which is affiliated with J. Matthew Mackowski, a member of the Company’s board of directors, participated in the PIPE Private Placement and purchased an aggregate of 9,054,052 shares of common stock on the same terms as the other investors.

The Company received aggregate gross proceeds of $22.915 million from the Registered Direct Offering and PIPE Private Placement (collectively, the Offerings), before deducting offering expenses payable by the Company. As of September 30, 2023, $0.4 million of costs directly related to these Offerings were included as a reduction to additional paid-in capital on the balance sheet.

The Offerings closed on September 19, 2023.

Cash and Cash Equivalents


	As of September 30, 2023		As of December 31, 2022
Cash and cash equivalents	$	32,079	$	42,236
Restricted cash included in other current assets		33		—
Total cash, cash equivalents, and restricted cash	$	32,112	$	42,236

Recently Adopted Accounting Pronouncements

Effective January 1, 2023, the Company adopted ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326), which introduced a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses and applied to the Company’s accounts receivable. The adoption of this standard did not have a significant impact on the Company’s condensed financial statements.

Concentrations of Risk - Summary of revenues and outstanding balance of accounts receivable (Details) - Customers Concentration Risk [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Accounts Receivable [Member] \| Distributor supplier A
Product Information [Line Items]
Concentration Risk Percentage					15.00%
Accounts Receivable [Member] \| Distributor customer B
Product Information [Line Items]
Concentration Risk Percentage	28.00%		28.00%		17.00%
Accounts Receivable [Member] \| Direct customer A
Product Information [Line Items]
Concentration Risk Percentage	12.00%		12.00%
Revenue Benchmark [Member] \| Distributor customer B
Product Information [Line Items]
Concentration Risk Percentage1	20.00%	14.00%	18.00%	14.00%
Revenue Benchmark [Member] \| Direct customer B [Member]
Product Information [Line Items]
Concentration Risk Percentage1		15.00%
Revenue Benchmark [Member] \| Direct customer C [Member]
Product Information [Line Items]
Concentration Risk Percentage1		13.00%

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 1,300		$ 400	$ 3,200	$ 1,400
Capitalized interest costs	900		400	900	1,100
Long-lived assets impairment	$ 0	$ 2,200	$ 0	$ 2,195	$ 0

Long-Term Debt, Net

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Long-Term Debt, Net

Note 10. Long-term Debt, Net

On May 10, 2022, the Company entered into the Amended and Restated Credit and Security Agreement (Term Loan) as borrower, with MidCap Financial Trust (MidCap), as agent and lender, and the additional lenders from time to time party thereto (the Term Loan Credit Agreement) and the Amended and Restated Credit and Security Agreement (Revolving Loan) as borrower, with MidCap as agent and lender, and the additional lenders from time to time party thereto (the Revolving Loan Credit Agreement, together with the Term Loan Credit Agreement, the Credit Agreement).

The Credit Agreement provided for a $57.135 million credit facility (the Credit Facility) consisting of a $52.135 million senior secured term loan (the Term Loan) and a $5.0 million working capital facility (the Revolver). The Term Loan consisted of the $12.0 million balance made available in 2021 under the previous credit facility and an additional $40.135 million, staged such that $5.135 million was funded upon closing of the Credit Agreement, an additional $5.0 million was funded on October 31, 2022, $10.0 million was to be available in the first half of 2023, $10.0 million was to be available in the second half of 2023 and $10.0 million was to be available in the first half of 2024, with the borrowing in the second half of 2023 and in the first half of 2024 being contingent upon achieving trailing twelve months of Clinical Solutions revenue of $15.0 million and $19.0 million, respectively, and liquidity requirements (as defined in the Credit Agreement) of $10.0 million and $15.0 million, respectively. The maximum loan amount under the Revolver was $5.0 million, and the Company was permitted to request the lenders to increase such amount up to $15.0 million. Borrowings on the Revolver were limited in accordance with a borrowing base calculation.

The interest on the Term Loan was based on the annual rate of one-month London Inter-Bank Offered Rate (LIBOR) plus 6.45%, subject to a LIBOR floor of 1.00%. If any advance under the Term Loan was prepaid at any time, the prepayment fee was based on the amount being prepaid and an applicable percentage amount, such as 3%, 2%, or 1%, based on the date the prepayment was made after the closing date of the Term Loan. Interest on the outstanding balance of the Revolver was payable monthly in arrears at an annual rate of one-month LIBOR plus 3.75%, subject to a LIBOR floor of 1.00%.

The maturity date of the Credit Facility is May 1, 2027. On the date of termination of the Term Loan or the date on which the obligations under the Term Loan become due and payable in full, the Company would pay an exit fee in an amount equal to 5.00% of the total aggregate principal amount of term loans made pursuant to the Term Loan as of such date. The Credit Agreement contained a financial covenant based upon a trailing twelve months of net revenue, including a requirement of $42.5 million in the twelve months ending December 31, 2022.

On November 8, 2022, the Company entered into Amendment No. 1 to the Credit Agreement (Amendment No. 1) which (i) replaced the LIBOR-based interest rate with a rate equal to the forward-looking one-month term Secured Overnight Financing Rate adjusted upward by 0.10% (or Term SOFR, as defined in Amendment No. 1) plus an applicable margin (6.45% for the Term Loan and 3.75% for the Revolver), with a Term SOFR floor of 1.00%, and with such interest rate calculation change taking effect on December 1, 2022, (ii) increased the applicable prepayment fee percentage amounts by one percentage point, (iii) gave the lenders discretion regarding the $10.0 million in borrowing that was previously guaranteed to be available under the Term Loan in the first half of 2023, and (iv) reduced the requirements for trailing twelve months of net revenue for all future periods. Concurrent with Amendment No. 1, the exit fee due on the date of termination of the Term Loan, or the date on which the obligations under the Term Loan become due and payable in full, increased from 5.00% to 7.00% of the total aggregate principal amount of term loans made pursuant to the Term Loan as of such date.

On March 28, 2023, the Company entered into Amendment No. 2 to the Credit Agreement (Amendment No. 2) which (i) increased the applicable margin from 6.45% to 7.00% for the Term Loan and from 3.75% to 4.00% for the Revolver, and increased the Term SOFR floor from 1.00% to 4.50% on both the Term Loan and Revolver, (ii) gave the lenders discretion regarding the $10.0 million in borrowings in the second half of 2023 and the $10.0 million in borrowings in the first half of 2024 by removing the trailing twelve-month Clinical Solutions revenue requirement that was previously required under the Term Loan, (iii) removed the increase in the minimum cash covenant from $10.0 million to $15.0 million on the $10.0 million in borrowings in the first half of 2024, and added the $10.0 million minimum cash covenant requirement throughout the remaining term of the Amended Credit Agreement, and (iv) reduced the requirements for trailing twelve months of net revenue for all future periods—for example, for the twelve months ending December 31, 2023, the minimum net revenue requirement was reduced from $45.0 million to $42.0 million. Concurrent with Amendment No. 2, the exit fee due on the date of termination of the Term Loan, or the date on which the obligations under the Term Loan become due and payable in full, increased from 7.00% percent to 8.50% of the total aggregate principal amount of term loans made pursuant to the Term Loan as of such date.

On July 13, 2023, the Company entered into Amendment No. 3 to the Credit Agreement (Amendment No. 3), which amended the definition of Permitted Debt in the Amended Credit Agreement from $250,000 to $1,100,000 to allow for the financing of the Company's D&O liability insurance and related policies as described further above.

On September 19, 2023, the Company entered into Amendment No. 4 to the Credit Agreement (Amendment No. 4, or as amended, the Amended Credit Agreement). As previously disclosed in our Form 10-Q for the period ended June 30, 2023, the Company determined that it was not in compliance with the trailing twelve months minimum net revenue covenant contained in the Credit Agreement as of July 31, 2023. Amendment No. 4 includes a waiver from MidCap of the revenue covenant violation for the period ending July 31, 2023. As a condition to the effectiveness of Amendment No. 4, the Company prepaid the principal amount of the Term Loan in an amount equal to $10.0 million (the Term Loan Prepayment). The Company recognized a loss on the extinguishment of debt in the amount of $0.8 million related to the Term Loan Prepayment in the Statements of Operations for the three and nine months ended September 30, 2023. Amendment No. 4 reduced the minimum net revenue requirements for future periods up to and including for the twelve months ending December 31, 2025—for example, the Company’s minimum net revenue requirement was reduced (i) for the twelve months ending December 31, 2023, from $42.0 million to $36.5 million, (ii) for the twelve months ending December 31, 2024, from $49.0 million to $42.0 million, and (iii) for the twelve months ending December 31, 2025, from $58.8 million to $50.0 million. Amendment No. 4 also removed those requirements for the periods ending January 31, 2026 through March 31, 2027, instead requiring that for each applicable twelve-month period ending after December 31, 2025, the Company’s minimum net revenue requirement will be determined by MidCap in its reasonable discretion in consultation with the Company’s senior management and based on financial statements and projections delivered to MidCap in accordance with the financial reporting requirements in the Amended Credit Agreement, so long as the minimum net revenue requirements for those periods shall not be less than the greater of (x) the applicable minimum net revenue requirement for the twelve-month period ending on the last day of the immediately preceding month and (y) $50.0 million. In addition, the minimum cash covenant requirement was reduced from $10.0 million to $9.0 million. Concurrent with Amendment No. 4, the exit fee due on the date of termination of the Term Loan, or the date on which the obligations under the Term Loan become due and payable in full, increased from 8.5% to 9.0% of the total aggregate principal amount of term loans made pursuant to the Term Loan (including amendments thereto) as of such date. The Company did not pay a prepayment fee in connection with the Term Loan Prepayment. Finally, Amendment No. 4 conditions the next borrowing under the Revolving Loan on the Company achieving net revenue for the preceding twelve-month period of at least $45.0 million. Except as described above, the Amended Credit Agreement is unmodified in all other material respects.

Debt, net consisted of the following (in thousands):


	As of September 30, 2023			As of December 31, 2022
Debt	$	12,135		$	22,135
Cumulative accretion of exit fee		1,192			161
Unamortized debt discount and debt issuance costs		(159	)		(320	)
Debt, net	$	13,168		$	21,976

At September 30, 2023, the scheduled maturities of the Company's debt obligations were as follows (in thousands):


	Amount
Remainder of 2023	$	—
2024		—
2025		3,539
2026		6,068
2027		2,528
Total	$	12,135

As of September 30, 2023, the fair value of the Company’s debt approximated its carrying value. The fair value of the Company’s debt was based on observable market inputs (Level 2).

Stock-Based Compensation - Summary of Stock Options Activity (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Outstanding, Beginning balance	3,846,532
Number of Options, Granted	604,835
Number of Options, Exercised	(51,774)
Number of Options, Forfeited	(263,348)
Number of Options expired	(42,807)
Number of Options Outstanding, Ending Balance	4,093,438	3,846,532
Number of Options, Exercisable, Ending balance	2,008,038
Number of Options, Vested and expected to vest	3,808,756
Weighted Average Exercise Price per Share, Options outstanding, Beginning balance	$ 7.02
Weighted Average Exercise Price per Share, Granted	5.05
Weighted Average Exercise Price per Share, Exercised	1.47
Weighted Average Exercise Price per Share, forfeited	10.24
Weighted Average Exercise Price Per Share, Expired	15.33
Weighted Average Exercise Price per Share, Options outstanding, Ending balance	6.51	$ 7.02
Weighted Average Exercise Price per Share, Exercisable, Ending balance	5.66
Weighted Average Exercise Price per Share, Vested and expected to vest	$ 6.96
Weighted Average Remaining Contractual Term (in years), Options outstanding at January 1, 2023	7 years 8 months 15 days	8 years 3 months 21 days
Weighted Average Remaining Contractual Term (in years), Exercisable	7 years 3 months 7 days
Weighted Average Remaining Contractual Term (in years), Vested and expected to vest	7 years 10 months 20 days
Aggregate Intrinsic Value, Options outstanding	$ 3,477	$ 9,083
Aggregate Intrinsic Value, Exercisable	2,309
Aggregate Intrinsic Value, Vested and expected to vest	$ 2,811

Intangible Assets, Net - Schedule of Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2023	$ 288
2024	1,148
2025	1,148
2026	1,148
2027	45
Estimated future amortization expense of definite-lived intangible assets	$ 3,777

Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets with Definite and Indefinite Lives

The following is a summary of intangible assets with definite and indefinite lives (in thousands):


	Balance at September 30, 2023						Balance at December 31, 2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Definite Lived:
Customer relationships	$	9,180	$	5,403	$	3,777	$	9,180	$	4,543	$	4,637
Indefinite Lived:
Tradename		12,919		—		12,919		12,919		—		12,919
Total intangible assets	$	22,099	$	5,403	$	16,696	$	22,099	$	4,543	$	17,556

Schedule of Future Amortization Expense


	Amount
Remainder of 2023	$	288
2024		1,148
2025		1,148
2026		1,148
2027		45
Estimated future amortization expense of definite-lived intangible assets	$	3,777

Condensed Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2021	$ 143,203		$ 150,741	$ (7,538)
Beginning Balance (in shares) at Dec. 31, 2021		28,012,017
Stock-based compensation	2,689		2,689
Issuance of common stock upon exercise of stock options	134		134
Issuance of common stock upon exercise of stock options, shares		105,232
Stock Issued During Period, Value, Employee Stock Purchase Plan	144		144
Issuance of common stock under employee stock purchase plan (in shares)		13,235
Net loss	(34,174)			(34,174)
Ending Balance at Sep. 30, 2022	111,996		153,708	(41,712)
Ending Balance (in shares) at Sep. 30, 2022		28,130,484
Beginning Balance at Jun. 30, 2022	133,467		152,705	(19,238)
Beginning Balance (in shares) at Jun. 30, 2022		28,080,484
Stock-based compensation	968		968
Issuance of common stock upon exercise of stock options	35		35
Issuance of common stock upon exercise of stock options, shares		50,000
Net loss	(22,474)			(22,474)
Ending Balance at Sep. 30, 2022	111,996		153,708	(41,712)
Ending Balance (in shares) at Sep. 30, 2022		28,130,484
Beginning Balance at Dec. 31, 2022	$ 99,885		154,891	(55,006)
Beginning Balance (in shares) at Dec. 31, 2022	28,179,423	28,179,423
Stock-based compensation	$ 3,115		3,115
Equity financing, net of issuance costs	22,562		22,562
Equity financing, net of issuance costs, Shares		12,386,478
Issuance of common stock upon exercise of stock options	76		76
Issuance of common stock upon exercise of stock options, shares		51,774
Stock Issued During Period, Value, Employee Stock Purchase Plan	138		138
Issuance of common stock under employee stock purchase plan (in shares)		82,034
Vesting of restricted stock units		28,071
Net loss	(26,124)			(26,124)
Ending Balance at Sep. 30, 2023	$ 99,652		180,782	(81,130)
Ending Balance (in shares) at Sep. 30, 2023	40,727,780	40,727,780
Beginning Balance at Jun. 30, 2023	$ 86,208		157,185	(70,977)
Beginning Balance (in shares) at Jun. 30, 2023		28,341,302
Stock-based compensation	1,035		1,035
Equity financing, net of issuance costs	22,562		22,562
Equity financing, net of issuance costs, Shares		12,386,478
Net loss	(10,153)			(10,153)
Ending Balance at Sep. 30, 2023	$ 99,652		$ 180,782	$ (81,130)
Ending Balance (in shares) at Sep. 30, 2023	40,727,780	40,727,780

Long-Term Debt, Net - Additional information (Details) - USD ($)					1 Months Ended	3 Months Ended		6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 18, 2023	Mar. 28, 2023	Nov. 08, 2022	May 10, 2022	Nov. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Mar. 31, 2024	Jul. 13, 2023	Jun. 30, 2023	Dec. 31, 2022	Oct. 31, 2022	Mar. 26, 2021
Debt Instrument [Line Items]
Maximum amount borrowed																			$ 5,000,000
Line of credit working capital				$ 5,000,000
Maximum amount borrowed at the end of month																			5,135,000
Unused Borrowing Capacity Amount				$ 40,135,000					$ 10,000,000					$ 10,000,000			$ 10,000,000		$ 5,000,000
Cash Received Under the Term Loan																				$ 12,000,000
Line of Credit Facility, Description				If any advance under the Term Loan was prepaid at any time, the prepayment fee was based on the amount being prepaid and an applicable percentage amount, such as 3%, 2%, or 1%, based on the date the prepayment was made after the closing date of the Term Loan.
Net revenue requirement for the financial covenant										$ 42,500,000
Loss on extinguishment of debt						$ (824,000)	$ 0			(824,000)	$ 0
Debt Covenant Description	No. 4 also removed those requirements for the periods ending January 31, 2026 through March 31, 2027, instead requiring that for each applicable twelve-month period ending after December 31, 2025, the Company’s minimum net revenue requirement will be determined by MidCap in its reasonable discretion in consultation with the Company’s senior management and based on financial statements and projections delivered to MidCap in accordance with the financial reporting requirements in the Amended Credit Agreement, so long as the minimum net revenue requirements for those periods shall not be less than the greater of (x) the applicable minimum net revenue requirement for the twelve-month period ending on the last day of the immediately preceding month and (y) $50.0
Term Loan Exit Fee Rate				5.00%
Debt issuance cost										24,000	$ 151,000
Long-term Debt, Gross						12,135,000				12,135,000								$ 22,135,000
Long-term debt, net						13,168,000				13,168,000								$ 21,976,000
Maximum [Member]
Debt Instrument [Line Items]
Term Loan Exit Fee Rate	9.00%		7.00%
Minimum [Member]
Debt Instrument [Line Items]
Term Loan Exit Fee Rate			5.00%
Forecast [Member]
Debt Instrument [Line Items]
Unused Borrowing Capacity Amount								$ 10,000,000
Contingent Revenue								19,000,000	15,000,000
Liquidity, line of credit								$ 15,000,000	$ 10,000,000
Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Maximum amount borrowed																	$ 10,000,000
Line of Credit Facility, Description		removed the increase in the minimum cash covenant from $10.0 million to $15.0 million on the $10.0 million in borrowings in the first half of 2024, and added the $10.0 million minimum cash covenant requirement throughout the remaining term of the Amended Credit Agreement
Increase Borrowing Capacity				$ 15,000,000
Net revenue requirement for the financial covenant		$ 45,000,000
Term Loan Prepayment	$ 10,000,000
Loss on extinguishment of debt						$ 800,000				$ 800,000
Line of credit			$ 10,000,000
Maturity date				May 01, 2027
Term loan exit fee percent	8.50%	7.00%
Amended Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Maximum amount borrowed																$ 1,100,000
Cash Covenant Amount	$ 9,000,000
Amended Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Maximum amount borrowed																$ 250,000
Revenue	45,000,000
Cash Covenant Amount	$ 10,000,000
Amended Credit Agreement [Member] \| Forecast [Member]
Debt Instrument [Line Items]
Maximum amount borrowed															$ 10,000,000
Net revenue requirement for the financial covenant														$ 42,000,000
Term loan exit fee percent														8.50%
Amended Credit Agreement [Member] \| Forecast [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Revenue												$ 50,000,000	$ 42,000,000	$ 36,500,000
Amended Credit Agreement [Member] \| Forecast [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Revenue												$ 58,800,000	$ 49,000,000	$ 42,000,000
Amended Credit Agreement [Member] \| London Interbank Offered Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				3.75%
Amended Credit Agreement [Member] \| LIBOR Floor [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.00%
Amended Credit Agreement [Member] \| SOFR [Member]
Debt Instrument [Line Items]
Adjusted upward rate			0.10%
Term SOFR floor					1.00%
The Facility [Member]
Debt Instrument [Line Items]
Maximum amount borrowed				$ 57,135,000
Revolver [Member] \| Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Term SOFR floor		4.50%
Revolver [Member] \| Amended Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Exit Fees Percentage of Term Loan		4.00%
Revolver [Member] \| Amended Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Exit Fees Percentage of Term Loan		3.75%
Revolver [Member] \| Amended Credit Agreement [Member] \| SOFR [Member]
Debt Instrument [Line Items]
Applicable margin			3.75%
Clinical Solution [Member] \| Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Maximum amount borrowed															10,000,000
Cash Covenant Amount															$ 10,000,000
Clinical Solution [Member] \| Amended Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Cash Covenant Amount		$ 15,000,000
Clinical Solution [Member] \| Amended Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Cash Covenant Amount		$ 10,000,000
Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Maximum amount borrowed				$ 52,135,000
Term Loan [Member] \| London Interbank Offered Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				6.45%
Term Loan [Member] \| LIBOR Floor [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.00%
Term Loan [Member] \| Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Term SOFR floor		1.00%
Term Loan [Member] \| Amended Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Applicable margin		7.00%
Term Loan [Member] \| Amended Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Applicable margin		6.45%
Term Loan [Member] \| Amended Credit Agreement [Member] \| SOFR [Member]
Debt Instrument [Line Items]
Applicable margin			6.45%

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 8,169	$ 10,692	$ 28,817	$ 33,529
Cost of sales	6,697	5,922	19,856	18,163
Gross profit	1,472	4,770	8,961	15,366
Operating expenses:
Research and development	1,397	1,925	4,256	5,867
Sales and marketing	2,412	2,397	6,929	6,592
General and administrative	6,138	6,502	19,426	20,856
Amortization of intangible assets	287	287	860	861
Long-lived assets impairment	0	0	2,195	0
Goodwill impairment	0	16,613	0	16,613
Total operating expenses	10,234	27,724	33,666	50,789
Loss from operations	(8,762)	(22,954)	(24,705)	(35,423)
Other (expenses) income, net
Interest (expense) income, net	(791)	70	(1,006)	85
Loss on extinguishment of debt	(824)	0	(824)	0
Other income, net	233	36	417	36
Total other (expenses) income, net	(1,382)	106	(1,413)	121
Loss before income taxes	(10,144)	(22,848)	(26,118)	(35,302)
Provision for (benefit from) income taxes	9	(374)	6	(1,128)
Net loss	$ (10,153)	$ (22,474)	$ (26,124)	$ (34,174)
Earnings Per Share - Basic	$ (0.34)	$ (0.8)	$ (0.91)	$ (1.22)
Earnings Per Share - Diluted	$ (0.34)	$ (0.8)	$ (0.91)	$ (1.22)
Weighted Average Number of Shares Outstanding - Basic	29,956,930	28,090,267	28,810,068	28,059,897
Weighted Average Number of Shares Outstanding - Diluted	29,956,930	28,090,267	28,810,068	28,059,897

Basis of Presentation and Summary of Significant Accounting Policies - Summary of cash, cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 32,079	$ 42,236
Restricted cash included in other current assets	33	0
Total cash, cash equivalents, and restricted cash	$ 32,112	$ 42,236	$ 49,855	$ 87,518

Stock-Based Compensation - Schedule of Weighted-Average Assumptions used in Black-Scholes Option-Pricing Model (Details) - Stock Options [Member] - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Estimated dividend yield	0.00%	0.00%	0.00%	0.00%
Weighted-average expected stock price volatility	35.43%	34.27%	35.08%	33.22%
Weighted-average risk-free interest rate	4.54%	3.49%	4.15%	2.19%
Expected average term of options (in years)	3 years	6 years 3 months	5 years 11 months 12 days	6 years 3 months
Weighted-average fair value of common stock	$ 1.95	$ 4.84	$ 5.05	$ 14.27
Weighted-average fair value per option	$ 0.57	$ 1.95	$ 2.12	$ 5.23

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Net Loss Per Share - Schedule of Computation of Basic and Diluted Net (Loss) Income Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (10,153)	$ (22,474)	$ (26,124)	$ (34,174)
Weighted Average Number of Shares Outstanding - Basic	29,956,930	28,090,267	28,810,068	28,059,897
Weighted Average Number of Shares Outstanding - Diluted	29,956,930	28,090,267	28,810,068	28,059,897
Net loss per share - basic	$ (0.34)	$ (0.8)	$ (0.91)	$ (1.22)
Net loss per share - diluted	$ (0.34)	$ (0.8)	$ (0.91)	$ (1.22)

- Definition

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Accrued Liabilities (Additional Information) (Details) - USD ($) $ in Thousands		3 Months Ended
	Jul. 25, 2023	Sep. 30, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Insurance Premiums Paid	$ 1,200
Annual Interest Rate	7.74%
Down Payment on Policy		$ 200
Monthly Installments		300
Insurance Premiums and Accrued Interest		$ 709	$ 0

Revenue Recognition

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Note 3. Revenue Recognition

Teknova recognizes revenue from the sale of manufactured products and services when the Company transfers control of promised goods or services to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Control is transferred when the customer has the ability to direct the use of and obtain benefits from the goods or services. The majority of the Company’s sales agreements contain performance obligations satisfied at a point in time when control is transferred to the customer.

Teknova’s revenue, disaggregated by product category, was as follows (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
Lab Essentials	$	7,274	$	9,470	$	22,112	$	24,838
Clinical Solutions		597		919		5,859		7,673
Other		298		303		846		1,018
Total revenue	$	8,169	$	10,692	$	28,817	$	33,529

Teknova’s revenue, disaggregated by geographic region, was as follows (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
United States	$	7,827	$	10,384	$	27,628	$	32,489
International		342		308		1,189		1,040
Total revenue	$	8,169	$	10,692	$	28,817	$	33,529

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Long-Term Debt, Net - Summary of Components of Carrying Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	$ 12,135	$ 22,135
Cumulative accretion of exit fee	1,192	161
Unamortized debt discount and debt issuance costs	(159)	(320)
Debt, net	$ 13,168	$ 21,976

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Note 6. Property, Plant, and Equipment, Net

Property, plant, and equipment consist of the following (in thousands):


	As of September 30, 2023			As of December 31, 2022
Machinery and equipment	$	29,475		$	19,433
Office furniture and equipment		899			628
Vehicles		292			229
Leasehold improvements		24,609			12,093
		55,275			32,383
Less—Accumulated depreciation		(6,711	)		(4,520	)
		48,564			27,863
Construction in progress		3,015			23,714
Total property, plant, and equipment, net	$	51,579		$	51,577

For the three and nine months ended September 30, 2023, depreciation expense was $1.3 million and $3.2 million, respectively, and for the three and nine months ended September 30, 2022, depreciation expense was $0.4 million and $1.4 million, respectively.

Teknova capitalizes interest on funds borrowed to finance certain of its capital expenditures. Capitalized interest is recorded as part of an asset’s cost and depreciated over the asset’s useful life. For the three and nine months ended September 30, 2023, capitalized interest costs were not significant and $0.9 million, respectively, and for the three and nine months ended September 30, 2022, capitalized interest costs were $0.4 million and $1.1 million, respectively.

In June 2023, the Company identified circumstances that indicated that certain of its long-lived assets may not be fully recoverable. Specifically, these circumstances included changes in the market price of the asset group, continued losses and a current expectation that, more likely than not, these long-lived assets in question will be sold or otherwise disposed of significantly before the end of their previously estimated useful life. The Company reviewed the recoverability of the carrying value of these assets and determined that their carrying value exceeded their fair value. The fair value of these assets was measured employing cost and market approaches, using Level 3 inputs under ASC 820, Fair Value Measurement. Unobservable inputs include salvage value estimates, replacement or reproduction cost estimates, as well as consideration of physical deterioration, and functional and economic obsolescence, where measurable. As a result of this fair value analysis, an impairment charge of $2.2 million was recorded related to these long-lived assets in the quarter ended June 30, 2023. Subsequently, management sold these assets which were no longer expected to be used in operations during the quarter ended September 30, 2023 at an amount that approximated carrying value after the impairment charges recorded.

Long-Term Debt, Net (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Summary of Components of Carrying Value of Long-Term Debt

Debt, net consisted of the following (in thousands):


	As of September 30, 2023			As of December 31, 2022
Debt	$	12,135		$	22,135
Cumulative accretion of exit fee		1,192			161
Unamortized debt discount and debt issuance costs		(159	)		(320	)
Debt, net	$	13,168		$	21,976

Schedule of Maturities of Term Loan

At September 30, 2023, the scheduled maturities of the Company's debt obligations were as follows (in thousands):


	Amount
Remainder of 2023	$	—
2024		—
2025		3,539
2026		6,068
2027		2,528
Total	$	12,135

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Leases - Schedule of maturities of operating lease liabilities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Lessee Disclosure [Abstract]
Remainder of 2023	$ 647
2024	2,601
2025	2,354
2026	2,413
2027	2,416
Thereafter	11,917
Total lease payments	22,348
Less: imputed interest	(4,705)
Present value of lease liabilities	$ 17,643

Income Taxes

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Note 12. Income Taxes

For the three months ended September 30, 2023, the Company's provision for income taxes was not significant, compared to the three months ended September 30, 2022, when the Company recorded a $0.4 million income tax benefit. The effective tax rates for the three months ended September 30, 2023 and 2022 were (0.1%) and 1.6%, respectively. The effective tax rates differ from the federal statutory rate primarily due to operating losses not expected to produce a benefit.

For the nine months ended September 30, 2023, the Company's provision for income taxes was not significant, compared to the nine months ended September 30, 2022, when the Company recorded a $1.1 million income tax benefit. The effective tax rates for the nine months ended September 30, 2023 and 2022 were 0.0% and 3.2%, respectively. The effective tax rates differ from the federal statutory rate primarily due to operating losses not expected to produce a benefit.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Stock Options Activity

The following table summarizes the stock option activity for the nine months ended September 30, 2023 (in thousands, except share and per share data):


	Number of Shares			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2023		3,846,532		$	7.02		8.31	$	9,083
Granted		604,835		$	5.05
Exercised		(51,774	)	$	1.47
Forfeited		(263,348	)	$	10.24
Expired		(42,807	)	$	15.33
Outstanding at September 30, 2023		4,093,438		$	6.51		7.71	$	3,477
Exercisable at September 30, 2023		2,008,038		$	5.66		7.27	$	2,309
Vested and expected to vest at September 30, 2023		3,808,756		$	6.96		7.89	$	2,811

Schedule of Weighted-Average Assumptions used in Black-Scholes Option-Pricing Model

The weighted average assumptions used in the Black-Scholes pricing model for stock options granted during the three and nine months ended September 30, 2023, were as follows:


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2023			2022			2023			2022
Estimated dividend yield		-	%		-	%		-	%		-	%
Weighted-average expected stock price volatility		35.43	%		34.27	%		35.08	%		33.22	%
Weighted-average risk-free interest rate		4.54	%		3.49	%		4.15	%		2.19	%
Expected average term of options (in years)		3.00			6.25			5.95			6.25
Weighted-average fair value of common stock	$	1.95		$	4.84		$	5.05		$	14.27
Weighted-average fair value per option	$	0.57		$	1.95		$	2.12		$	5.23

Schedule of Restricted Stock Unit Activity

The following table summarizes the restricted stock unit activity for the nine months ended September 30, 2023 (in thousands, except share and per share data):


	Number of Shares			Weighted Average Grant Date Fair Value per Share		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2023		28,071		$	7.43		0.42	$	158
Granted		174,595		$	4.93
Vested		(28,071	)	$	7.43
Forfeited		(18,815	)	$	3.93
Outstanding at September 30, 2023		155,780		$	5.05		1.61	$	435
Vested and expected to vest at September 30, 2023		155,780		$	5.05		1.61	$	435

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense included in the accompanying condensed financial statements was as follows (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of sales	$	36	$	45	$	112	$	108
Research and development		43		40		120		153
Sales and marketing		168		126		492		351
General and administrative		788		757		2,391		2,077
Total stock-based compensation expense	$	1,035	$	968	$	3,115	$	2,689

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule Of Maturities Of Operating Lease Liabilities

Maturities of operating lease liabilities at September 30, 2023 were as follows (in thousands):


	Amount
Remainder of 2023	$	647
2024		2,601
2025		2,354
2026		2,413
2027		2,416
Thereafter		11,917
Total lease payments		22,348
Less: imputed interest		(4,705	)
Present value of lease liabilities	$	17,643

Basis of Presentation and Summary of Significant Accounting Policies (Additional Information) (Details) $ / shares in Units, $ in Thousands				3 Months Ended		9 Months Ended
	Sep. 15, 2023 USD ($) $ / shares shares	Mar. 30, 2023 USD ($)	Feb. 01, 2023 USD ($) Positions	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares
Segment Reporting, Asset Reconciling Item [Line Items]
Net loss				$ (10,153)	$ (22,474)	$ (26,124)	$ (34,174)
Accumulated deficit				(81,130)		(81,130)		$ (55,006)
Principal amount of outstanding borrowings				12,100		12,100
Working capital				42,700		42,700
Cash and cash equivalents				$ 32,079		$ 32,079		$ 42,236
Reduction in Workforce Of Positions \| Positions			40
Severance And Other Related Termination Benefits			$ 700
Common Stock, Shares, Issued \| shares				40,727,780		40,727,780		28,179,423
Common Stock, Par or Stated Value Per Share \| $ / shares				$ 0.00001		$ 0.00001		$ 0.00001
Total proceeds from registered direct offering and PIPE private placement offering	$ 22,915					$ 22,915	$ 0
Offering Expenses						400
Registered Direct Purchase Agreement [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Common stock, new shares issued \| shares	1,086,485
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.00001
Shares Issued, Price Per Share \| $ / shares	$ 1.85
PIPE Purchase Agreement [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Common stock, new shares issued \| shares	11,299,993
Shares issued to related parties \| shares	9,054,052
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.00001
Shares Issued, Price Per Share \| $ / shares	$ 1.85
At-the-Market Facility [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Maximum Value Of Stock To Be Issued Under ATM Facility		$ 50,000
Percentage Of Commission To Be Paid On Gross Sales Proceeds Of ATM Facility		3.00%
Costs Capitalized Related to the ATM Facility				$ 400		$ 400

Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 32,079	$ 42,236
Accounts receivable, net of allowance for doubtful accounts of $43 thousand and $22 thousand	5,160	4,261
Inventories, net	11,468	12,247
Income taxes receivable	0	22
Prepaid expenses and other current assets	2,371	2,374
Total current assets	51,078	61,140
Property, plant and equipment, net	51,579	51,577
Operating right-of-use lease assets	17,080	19,736
Intangible assets, net	16,696	17,556
Other non-current assets	1,952	2,252
Total assets	138,385	152,261
Current liabilities:
Accounts payable	1,422	2,449
Accrued liabilities	5,147	6,203
Current portion of operating lease liabilities	1,770	2,223
Total current liabilities	8,339	10,875
Deferred tax liabilities	1,228	1,223
Other accrued liabilities	125	191
Long-term debt, net	13,168	21,976
Long-term operating lease liabilities	15,873	18,111
Total liabilities	38,733	52,376
Stockholders’ equity:
Preferred stock, $0.00001 par value, 10,000,000 shares authorized at September 30, 2023 and December 31, 2022, respectively, zero shares issued and outstanding at September 30, 2023 and December 31, 2022	0	0
Common stock, $0.00001 par value, 490,000,000 shares authorized at September 30, 2023 and December 31, 2022, 40,727,780 and 28,179,423 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively	0	0
Additional paid-in capital	180,782	154,891
Accumulated deficit	(81,130)	(55,006)
Total stockholders’ equity	99,652	99,885
Total liabilities and stockholders' equity	$ 138,385	$ 152,261

Inventories, Net (Tables)

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory, Net

Inventories consist of the following (in thousands):


	As of September 30, 2023		As of December 31, 2022
Finished goods, net	$	8,155	$	8,368
Work in process		58		186
Raw materials, net		3,255		3,693
Total inventories, net	$	11,468	$	12,247

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation Of Revenue [Line Items]
Revenue	$ 8,169	$ 10,692	$ 28,817	$ 33,529
United States [Member]
Disaggregation Of Revenue [Line Items]
Revenue	7,827	10,384	27,628	32,489
International [Member]
Disaggregation Of Revenue [Line Items]
Revenue	342	308	1,189	1,040
Lab Essentials [Member]
Disaggregation Of Revenue [Line Items]
Revenue	7,274	9,470	22,112	24,838
Clinical Solutions [Member]
Disaggregation Of Revenue [Line Items]
Revenue	597	919	5,859	7,673
Other [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 298	$ 303	$ 846	$ 1,018

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 22
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Basis of Accounting, Presentation and Use of Estimates

Going Concern

Reduction in Workforce

At-the-Market Facility

Concurrent Registered Direct Offering and Private Placements

The Offerings closed on September 19, 2023.

Cash and Cash Equivalents


	As of September 30, 2023		As of December 31, 2022
Cash and cash equivalents	$	32,079	$	42,236
Restricted cash included in other current assets		33		—
Total cash, cash equivalents, and restricted cash	$	32,112	$	42,236

Recently Adopted Accounting Pronouncements

Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Intangible Assets [Line Items]
Amortization of intangible assets	$ 287	$ 287	$ 860	$ 861
Acquired finite-lived intangible assets, weighted average useful life			3 years 3 months 18 days

Property, Plant and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Summary of Components of Property, Plant and Equipment, Net

Property, plant, and equipment consist of the following (in thousands):


	As of September 30, 2023			As of December 31, 2022
Machinery and equipment	$	29,475		$	19,433
Office furniture and equipment		899			628
Vehicles		292			229
Leasehold improvements		24,609			12,093
		55,275			32,383
Less—Accumulated depreciation		(6,711	)		(4,520	)
		48,564			27,863
Construction in progress		3,015			23,714
Total property, plant, and equipment, net	$	51,579		$	51,577

Accrued Liabilities

9 Months Ended

Sep. 30, 2023

Accrued Liabilities, Current [Abstract]

Accrued Liabilities

Note 9. Accrued Liabilities

Accrued liabilities were comprised of the following (in thousands):


	As of September 30, 2023		As of December 31, 2022
Payroll-related	$	3,068	$	2,796
Property, plant, and equipment		110		1,966
Deferred revenue		24		198
Insurance premiums and accrued interest		709		—
Other		1,236		1,243
Total current accrued liabilities	$	5,147	$	6,203

On July 13, 2023, the Company entered into a financing agreement with First Insurance Funding for the financing of the Company's Directors and Officers (D&O) liability insurance and related policies. Under the terms of the financing agreement, the Company agreed to pay a total of $1.2 million in premiums, taxes and fees, plus interest at an annual percentage rate of 7.74% in ten monthly installment payments commencing on July 25, 2023. During the three months ended September 30, 2023, the Company paid a down payment on the policy of $0.2 million to the insurer and three monthly installments for an aggregate of $0.3 million to First Insurance Funding. As of September 30, 2023, the Company owed $0.7 million for insurance premiums and accrued interest.

Related Parties

9 Months Ended

Sep. 30, 2023

Related Parties

Note 14. Related Parties

The Company has identified Meeches LLC (Meeches) as a related party through common control. Meeches is controlled by Ted Davis and Irene Davis, founders and current directors, and greater than five percent stockholders of the Company. Prior to May 16, 2023, the Company leased certain real property in Mansfield, Massachusetts, from Meeches. As of September 30, 2023 and December 31, 2022 the Company did not have any outstanding balances owed to Meeches. For the three and nine months ended September 30, 2023, the Company paid Meeches lease payments of zero and $0.1 million, respectively, and for the three and nine months ended September 30, 2022, the Company paid Meeches lease payments of $0.1 million and $0.2 million, respectively.

On April 11, 2023, the Company and Meeches entered into an agreement to terminate the Mansfield lease, which termination occurred on May 16, 2023. Shortly thereafter, Meeches sold the property to a third party. As part of the consideration for the early termination of the Mansfield lease, the Company entered into an escrow agreement with the new owner on May 17, 2023, and placed in escrow an amount equal to five months of base rent plus related expenses assumed by Teknova under the Mansfield lease. Escrow funds have been released to the new owner on a pro-rata monthly basis.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 5
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-Section S99
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-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Intangible Assets, Net - Summary of Intangible Assets with Definite and Indefinite Lives (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Intangible Assets [Line Items]
Intangible Assets, Gross	$ 22,099	$ 22,099
Intangible Assets, Accumulated Amortization	5,403	4,543
Intangible Assets, Net, Total	16,696	17,556
Trade Names [Member]
Intangible Assets [Line Items]
Intangible Assets, Gross	12,919	12,919
Intangible Assets, Accumulated Amortization	0	0
Intangible Assets, Net, Total	12,919	12,919
Customer Relationships [Member]
Intangible Assets [Line Items]
Intangible Assets, Gross	9,180	9,180
Intangible Assets, Accumulated Amortization	5,403	4,543
Intangible Assets, Net, Total	$ 3,777	$ 4,637

Concentrations of Risk

9 Months Ended

Sep. 30, 2023

Fair Value, Concentration of Risk, Financial Assets, Balance Sheet Groupings [Abstract]

Concentrations of Risk

Note 4. Concentrations of Risk

Customers

Customers who accounted for 10% or more of the Company’s revenues and outstanding balance of accounts receivable and contract assets are presented as follows:

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

As of

As of

2023

2022

2023

2022

September 30, 2023

December 31, 2022

Distributor customer A

*

*

*

*

*

15%

Distributor customer B

20%

14%

18%

14%

28%

17%

Direct customer A

*

*

*

*

12%

*

Direct customer B

*

15%

*

*

*

*

Direct customer C

*

13%

*

*

*

*

* Represents less than 10%.

The Company’s customers that are distributors, as opposed to direct customers, represent highly diversified customer bases.

Suppliers

Suppliers who accounted for 10% or more of the Company’s inventory purchases and outstanding balance of accounts payable are presented as follows:

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

As of

As of

2023

2022

2023

2022

September 30, 2023

December 31, 2022

Distributor supplier A

46%

37%

39%

36%

12%

11%

Direct supplier A

*

*

10%

*

*

*

Direct supplier B

*

24%

*

18%

*

*

Direct supplier C

13%

*

10%

*

*

*

* Represents less than 10%.

The Company’s suppliers that are distributors, as opposed to direct suppliers, represent highly diversified supplier bases.

Inventories, Net - Schedule of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods, net	$ 8,155	$ 8,368
Work in process	58	186
Raw materials, net	3,255	3,693
Total inventories, net	$ 11,468	$ 12,247

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,035	$ 968	$ 3,115	$ 2,689
Cost of Sales [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	36	45	112	108
Research and Development Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	43	40	120	153
Selling and Marketing Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	168	126	492	351
General and Administrative Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 788	$ 757	$ 2,391	$ 2,077

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2023	Nov. 09, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Entity Registrant Name	ALPHA TEKNOVA, INC.
Entity Central Index Key	0001850902
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Document Fiscal Period Focus	Q3
Trading Symbol	TKNO
Security12b Title	Common Stock, par value $0.00001 per share
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-40538
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3368109
Entity Address, Address Line One	2451 Bert Dr.
Entity Address, City or Town	Hollister
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95023
City Area Code	831
Local Phone Number	637-1100
Entity Common Stock, Shares Outstanding		40,727,780

Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2023

Accrued Liabilities, Current [Abstract]

Summary of Accrued Liabilities

Accrued liabilities were comprised of the following (in thousands):


	As of September 30, 2023		As of December 31, 2022
Payroll-related	$	3,068	$	2,796
Property, plant, and equipment		110		1,966
Deferred revenue		24		198
Insurance premiums and accrued interest		709		—
Other		1,236		1,243
Total current accrued liabilities	$	5,147	$	6,203

Property, Plant and Equipment, Net - Summary of Components of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 55,275	$ 32,383
Less—Accumulated depreciation	(6,711)	(4,520)
Property, plant and equipment, after depreciation	48,564	27,863
Construction in progress	3,015	23,714
Total property, plant and equipment, net	51,579	51,577
Machinery and Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	29,475	19,433
Office Furniture and Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	899	628
Vehicles [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	292	229
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 24,609	$ 12,093

Net Loss Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Net Loss Per Share

Note 13. Net Loss Per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents to the extent they are dilutive. For purposes of this calculation, stock options, restricted stock units, and employee stock purchase rights are considered to be common stock equivalents but have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive for all periods presented.

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data):


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2023			2022			2023			2022
Net loss	$	(10,153	)	$	(22,474	)	$	(26,124	)	$	(34,174	)
Weighted average shares used in computing net loss per share—basic and diluted		29,956,930			28,090,267			28,810,068			28,059,897
Net loss per share—basic and diluted	$	(0.34	)	$	(0.80	)	$	(0.91	)	$	(1.22	)


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
Employee share-based awards to purchase common stock		4,019,909		3,311,656		4,000,857		3,133,232

Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Teknova’s revenue, disaggregated by product category, was as follows (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
Lab Essentials	$	7,274	$	9,470	$	22,112	$	24,838
Clinical Solutions		597		919		5,859		7,673
Other		298		303		846		1,018
Total revenue	$	8,169	$	10,692	$	28,817	$	33,529

Teknova’s revenue, disaggregated by geographic region, was as follows (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
United States	$	7,827	$	10,384	$	27,628	$	32,489
International		342		308		1,189		1,040
Total revenue	$	8,169	$	10,692	$	28,817	$	33,529

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operating lease expense	$ 0.7	$ 0.8	$ 2.2	$ 2.5
Lease liabilities cash paid	$ 0.6	$ 0.7	$ 2.1	$ 2.1
Weighted-average discount rate	5.00%		5.00%
Weighted-average remaining lease term	9 years		9 years
Maximum [Member]
Remaining lease terms	14 years		14 years
Minimum [Member]
Remaining lease terms	1 year		1 year

Long-Term Debt, Net - Summary of Scheduled Maturities of Term Loan (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Long-Term Debt, Unclassified [Abstract]
Remainder of 2023	$ 0
2024	0
2025	3,539
2026	6,068
2027	2,528
Total	$ 12,135

Condensed Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 43	$ 22
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	490,000,000	490,000,000
Common stock, shares issued	40,727,780	28,179,423
Common stock, shares outstanding	40,727,780	28,179,423