Alpha Teknova (TKNO) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 08, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
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	Q2
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		28,090,484

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 64,734	$ 87,518
Accounts receivable, net of allowance for doubtful accounts of $30 thousand and $23 thousand	5,810	4,666
Inventories, net	7,909	5,394
Income taxes receivable	117	1,188
Prepaid expenses and other current assets	1,701	2,438
Total current assets	80,271	101,204
Property, plant and equipment, net	47,258	29,810
Operating right-of-use lease assets	19,154	0
Goodwill	16,613	16,613
Intangible assets, net	18,130	18,704
Other non-current assets	769	180
Total assets	182,195	166,511
Current liabilities:
Accounts payable	1,421	2,248
Accrued liabilities	8,250	5,495
Current portion of operating lease liabilities	2,194	0
Total current liabilities	11,865	7,743
Deferred tax liabilities	2,402	3,153
Other accrued liabilities	233	273
Long term debt, net	16,818	11,870
Deferred rent	0	269
Long-term operating lease liabilities	17,410	0
Total liabilities	48,728	23,308
Stockholders’ equity:
Preferred stock, $0.00001 par value, 10,000,000 shares authorized at March 31, 2022 and December 31, 2021, respectively, zero shares issued and outstanding at March 31, 2022 and December 31, 2021	0	0
Common stock, $0.00001 par value, 490,000,000 shares authorized at March 31, 2022 and December 31, 2021, 28,042,479 and 28,012,017 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	0	0
Additional paid-in capital	152,705	150,741
Accumulated deficit	(19,238)	(7,538)
Total stockholders’ equity	133,467	143,203
Total liabilities and stockholders' equity	$ 182,195	$ 166,511

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Allowance for doubtful accounts	$ 55	$ 23
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	28,080,484	28,012,017
Common stock, shares outstanding	28,080,484	28,012,017

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue	$ 11,690	$ 8,313	$ 22,837	$ 17,391
Cost of sales	6,443	4,959	12,241	9,012
Gross profit	5,247	3,354	10,596	8,379
Operating expenses:
Research and development	1,929	851	3,942	1,548
Sales and marketing	2,598	904	4,195	1,609
General and administrative	7,059	3,838	14,354	8,002
Amortization of intangible assets	287	287	574	574
Total operating expenses	11,873	5,880	23,065	11,733
Loss from operations	(6,626)	(2,526)	(12,469)	(3,354)
Other (expenses) income, net
Interest (expense) income, net	28	(304)	15	(296)
Other expense, net	0	(3)	0	(2)
Total other income (expenses), net	28	(307)	15	(298)
Loss before income taxes	(6,598)	(2,833)	(12,454)	(3,652)
Benefit from income taxes	(395)	(583)	(754)	(747)
Net loss	(6,203)	(2,250)	(11,700)	(2,905)
Change in unrealized loss on available-for-sale securities, net of tax				(7)
Comprehensive loss	$ (6,203)	$ (2,250)	$ (11,700)	$ (2,912)
Net loss per share - basic	$ (0.22)	$ (0.52)	$ (0.42)	$ (0.73)
Net loss per share - diluted	$ (0.22)	$ (0.52)	$ (0.42)	$ (0.73)
Weighted Average Number of Shares Outstanding, Basic	28,057,801	4,328,222	28,044,460	3,965,741
Weighted Average Number of Shares Outstanding, Diluted	28,057,801	4,328,222	28,044,460	3,965,741

Condensed Statements of Convert

Condensed Statements of Convertible and Redeemable Preferred Stock and Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings (Accumulated Deficit) [Member]	Convertible and Redeemable Preferred Stock [Member]	Convertible and Redeemable Preferred Stock [Member] Preferred Stock [Member]
Beginning Balance at Dec. 31, 2020	$ 16,767		$ 14,495	$ 7	$ 2,265		$ 35,638
Beginning Balance (in shares) at Dec. 31, 2020		3,599,232				9,342,092
Stock-based compensation	485	$ 0	485
Unrealized gain (loss) on available-for-sale securities	(7)	0		(7)
Accretion of convertible and redeemable preferred stock to redemption value	(300)	0	300			$ (300)
Conversion of convertible and redeemable preferred stock	35,938	$ 0	35,938			$ (35,938)
Conversion of convertible and redeemable preferred stock (in shares)		17,512,685				(9,342,092)
Issuance of common stock upon initial public offering, net of issuance costs and underwriting discounts	99,057	$ 0	99,057
Issuance of common stock upon initial public offering, net of issuance costs and underwriting discounts (in shares)		6,900,000
Net loss	(2,905)	$ 0			(2,905)
Ending Balance at Jun. 30, 2021	149,035	$ 149,035	149,675	0	(640)		0
Ending Balance (in shares) at Jun. 30, 2021		28,011,917				0
Beginning Balance at Mar. 31, 2021		$ 16,288	14,678	0	1,610		35,638
Beginning Balance (in shares) at Mar. 31, 2021		3,599,232,000				9,342,092,000
Stock-based compensation		$ 302	302
Accretion of convertible and redeemable preferred stock to redemption value		300	300			$ (300)
Conversion of convertible and redeemable preferred stock		$ 35,938	35,938			$ (35,938)
Conversion of convertible and redeemable preferred stock (in shares)		17,512,685,000				(9,342,092,000)
Issuance of common stock upon initial public offering, net of issuance costs and underwriting discounts		$ 99,057	99,057
Issuance of common stock upon initial public offering, net of issuance costs and underwriting discounts (in shares)		6,900,000,000
Net loss	(2,250)	$ (2,250)			(2,250)
Ending Balance at Jun. 30, 2021	149,035	$ 149,035	149,675	0	(640)		0
Ending Balance (in shares) at Jun. 30, 2021		28,011,917				0
Beginning Balance at Dec. 31, 2021	$ 143,203		150,741	0	(7,538)
Beginning Balance (in shares) at Dec. 31, 2021	28,012,017	28,012,017,000				0
Stock-based compensation	$ 1,721	$ 0	1,721
Issuance of common stock upon exercise of stock options	$ 99	$ 0	99
Issuance of common stock upon exercise of stock options, shares	55,232	55,232
Issuance of common stock under employee stock purchase plan, shares	13,235	13,235
Issuance of common stock under employee stock purchase plan	$ 144	$ 0	144
Accretion of convertible and redeemable preferred stock to redemption value
Conversion of convertible and redeemable preferred stock
Net loss	(11,700)	0			(11,700)
Ending Balance at Jun. 30, 2022	$ 133,467	$ 133,467	152,705	0	(19,238)		0
Ending Balance (in shares) at Jun. 30, 2022	28,080,484	28,080,484				0
Beginning Balance at Mar. 31, 2022		$ 138,548	151,583	0	(13,035)		0
Beginning Balance (in shares) at Mar. 31, 2022		28,042,479,000				0
Stock-based compensation		$ 934	934
Issuance of common stock upon exercise of stock options		$ 44	44
Issuance of common stock upon exercise of stock options, shares		24,770,000
Issuance of common stock under employee stock purchase plan, shares	13,235	13,235
Issuance of common stock under employee stock purchase plan	$ 144		144
Net loss	(6,203)	$ (6,203)			(6,203)
Ending Balance at Jun. 30, 2022	$ 133,467	$ 133,467	$ 152,705	$ 0	$ (19,238)		$ 0
Ending Balance (in shares) at Jun. 30, 2022	28,080,484	28,080,484				0

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net loss	$ (11,700)	$ (2,905)
Adjustments to reconcile net loss to net cash used in operating activities:
Bad debt expense	32	231
Inventory reserve	(8)	699
Depreciation and amortization	1,543	1,352
Stock-based compensation	1,721	485
Deferred taxes	(751)	(747)
Amortization of debt financing costs	99	46
Non-cash lease expense	181	49
Other	0	(6)
Changes in operating assets and liabilities:
Accounts receivable	(1,176)	334
Inventories	(2,507)	(997)
Income taxes receivable	1,071	(221)
Prepaid expenses and other current assets	737	418
Accounts payable	(278)	(33)
Accrued liabilities	626	205
Other	(629)	(60)
Cash used in operating activities	(11,039)	(1,150)
Investing activities:
Purchase of property, plant and equipment	(16,837)	(8,558)
Proceeds from loan to related party	0	529
Proceeds on sales of short-term marketable securities	0	1,132
Proceeds from maturities of short-term marketable securities	0	695
Cash used in investing activities	(16,837)	(6,202)
Financing activities:
Proceeds from long-term debt, net	5,135	11,889
Payment of debt issuance costs	(151)	(153)
Payment of exit fee costs	(135)	0
Payment of costs related to initial public offering	0	(2,349)
Proceeds from initial public offering, net of underwriters’ commissions and discounts	0	102,672
Proceeds from exercise of stock options	99	0
Proceeds from issuance of common stock under employee stock purchase plan	144
Cash provided by financing activities	5,092	112,059
Change in cash and cash equivalents	(22,784)	104,707
Cash and cash equivalents at beginning of period	87,518	3,315
Cash and cash equivalents at end of period	64,734	108,022
Supplemental cash flow disclosures:
Income taxes paid	0	0
Interest paid	0	194
Capitalized property, plant and equipment included in accounts payable and accrued liabilities	3,668	929
Conversion of convertible and redeemable preferred stock		35,938
Accretion of convertible and redeemable preferred stock to redemption value		300
Recognition of operating right-of-use lease asset	20,318	0
Recognition of operating lease liabilities	20,587	0
Deferred offering costs included in accounts payable and accrued liabilities		$ 1,266

Nature of the Business

Nature of the Business	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Note 1. Nature of th e Business Alpha Teknova, Inc. (referred to herein as the Company or Teknova), provides critical reagents that enable the discovery, development, and production of biopharmaceutical products such as drug therapies, novel 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 warehouses in Hollister, California and Mansfield, Massachusetts. Teknova manufactures its products in Research Use Only (RUO) or Good Manufacturing Practice (GMP) categories, the latter of which refers to more stringent quality standards supported by additional levels of documentation, testing, and traceability. In 2017, Teknova achieved International Organization for Standardization (ISO) 13485:2016 certification, enabling the Company to manufacture products for use in diagnostic and therapeutic applications.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
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, 2021, 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 implications of COVID-19. Actual results can differ from those estimates. Certain prior period amounts have been reclassified to conform to presentation for the current year. 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, 2021, included in the Company's Annual Report on Form 10-K filed with the SEC on March 18, 2022 (the 2021 Annual Report on Form 10-K). Refer to "Notes to Financial Statements—Note 2. Summary of Significant Accounting Policies," within the 2021 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. Recently Adopted Accounting Pronouncements Effective January 1, 2022, the Company adopted ASU No. 2016-02, Leases (Topic 842) using the modified retrospective approach, applied at the beginning of the period of adoption, and elected the package of transitional practical expedients. The adoption of this standard resulted in recording operating right-of-use lease assets of $ 20.3 million, which included reclassifying approximately $ 0.2 million of deferred rent as a component of the operating lease asset as of January 1, 2022. The adoption also resulted in recording operating lease liabilities of $ 20.5 million as of January 1, 2022. The standard did not have an impact on the condensed statements of operations and cash flows. Refer to Note 7, Leases, herein for additional information pertaining to the adoption of the new standard. Effective January 1, 2022, the Company adopted ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which removed certain exceptions to the general principles in Accounting Standards Codification (ASC) 740 and clarified and amended certain guidance to promote consistent application. The adoption of this standard did not have a significant impact on the Company's condensed financial statements. Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326), which introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses and will apply to accounts receivable. The new guidance will be effective for Teknova’s annual and interim periods beginning after December 15, 2022. Teknova is currently evaluating the impact of the adoption of the standard on the financial statements and does not anticipate the standard to have a significant impact.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 3. Revenue Recognition Teknova recognizes revenue from the sale of manufactured products and services when control of promised goods or services are transferred 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 business line, was as follows (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Lab Essentials $ 8,393 $ 6,456 $ 15,368 $ 13,246 Clinical Solutions 2,943 1,593 6,755 2,664 Sample Transport — 37 6 961 Other 354 227 708 520 Total revenue $ 11,690 $ 8,313 $ 22,837 $ 17,391 Teknova’s revenue, disaggregated by geographic region, was as follows (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 United States $ 11,285 $ 8,061 $ 22,105 $ 16,776 International 405 252 732 615 Total revenue $ 11,690 $ 8,313 $ 22,837 $ 17,391

Concentrations of Risk

Concentrations of Risk	6 Months Ended
	Jun. 30, 2022
Fair Value, Concentration of Risk, Financial Assets, Balance Sheet Groupings [Abstract]
Concentrations of Risk	Note 4. Concentrations of Risk Teknova’s financial instruments that are exposed to concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company places its cash and cash equivalents with high quality banking institutions. At times, the Company’s cash and cash equivalent balances may exceed the Federal Deposit Insurance Corporation (FDIC) insurance limit. Teknova has never experienced any losses related to its cash and cash equivalent balances. Teknova routinely communicates with its customers regarding payments and has a history of limited write-offs. Therefore, the Company believes that its accounts receivable credit risk exposure is limited. Customers Customers who accounted for 10% or more of the Company's revenues and outstanding balance of accounts receivable are presented as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, As of As of 2022 2021 2022 2021 June 30, 2022 December 31, 2021 Distributor customer A * 10 % * * 12 % 16 % Distributor customer B 14 % 19 % 13 % 17 % 16 % 10 % Direct customer A * * * * * 12 % * 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 June 30, For the Six Months Ended June 30, As of As of 2022 2021 2022 2021 June 30, 2022 December 31, 2021 Distributor supplier A 39 % 32 % 35 % 36 % 23 % 20 % Direct supplier A * * 12 % * * * Direct supplier B 16 % 10 % 14 % * 14 % * Direct supplier C * 16 % * 14 % * * * Represents less than 10%.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Note 8. Goodwill and Intangible Assets, Net There were no changes in the carrying amount of goodwill during the three and six months ended June 30, 2022 and 2021, respectively. The following is a summary of intangible assets with definite and indefinite lives (in thousands): Balance at June 30, 2022 Balance at December 31, 2021 Gross Accumulated Net Gross Accumulated Net Definite Lived: Customer relationships $ 9,180 $ 3,969 $ 5,211 $ 9,180 $ 3,395 $ 5,785 Indefinite Lived: Tradename 12,919 — 12,919 12,919 — 12,919 Total intangible assets $ 22,099 $ 3,969 $ 18,130 $ 22,099 $ 3,395 $ 18,704 For the three months ended June 30, 2022 and 2021, amortization expense was approximately $ 0.3 million and $ 0.3 million, respectively. For the six months ended June 30, 2022 and 2021, amortization expense was approximately $ 0.6 million and $ 0.6 million, respectively. As of June 30, 2022, the remaining weighted-average useful life of definite lived intangible assets is 4.5 years. The estimated future amortization expense of intangible assets with definite lives is as follows (in thousands): Amount Remainder of 2022 $ 574 2023 1,148 2024 1,148 2025 1,148 2026 1,148 Thereafter 45 Estimated future amortization expense of definite-lived intangible assets $ 5,211

Inventories, Net

Inventories, Net	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories, Net	Note 5. Inventories, Net Inventories consist of the following (in thousands): As of As of Finished goods, net $ 5,001 $ 3,172 Work in process 109 105 Raw materials, net 2,799 2,117 Total inventories, net $ 7,909 $ 5,394

Property, Plant and Equipment,

Property, Plant and Equipment, Net	6 Months Ended
	Jun. 30, 2022
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 As of Machinery and equipment $ 11,503 $ 9,942 Office furniture and equipment 659 649 Vehicles 70 70 Leasehold improvements 2,848 2,805 15,080 13,466 Less—Accumulated depreciation ( 3,413 ) ( 2,473 ) 11,667 10,993 Construction in progress 35,591 18,817 Total property, plant and equipment, net $ 47,258 $ 29,810 For the three months ended June 30, 2022 and 2021, depreciation expense was approximately $ 0.5 million and $ 0.4 million, respectively. For the six months ended June 30, 2022 and 2021, depreciation expense was approximately $ 1.0 million and $ 0.8 million, respectively. Teknova capitalizes interest on funds borrowed to finance 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 months ended June 30, 2022 and 2021, capitalized interest costs were $ 0.3 million and zero , respectively. For the six months ended June 30, 2022 and 2021, capitalized interest costs were $ 0.6 million and zero , respectively.

Leases

Leases	6 Months Ended
	Jun. 30, 2022
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 10 years , and some of these leases have renewal and termination options. Such termination options are exercisable at the Company’s option. 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. The Company determines if an arrangement is an operating lease at a lease's inception. Leases with an initial term of 12 months or less are not recorded on the balance sheet. All other operating leases are recorded on the balance sheet with a corresponding operating lease asset, net, representing the right to use the underlying asset for the lease term and the operating lease liabilities representing the obligation to make lease payments arising from the lease. The Company’s lease agreements do not contain any material residual value guarantees or restrictive covenants. Operating lease assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term and include options to extend or terminate the lease when such options are reasonably certain to be exercised. The present value of lease payments is determined primarily using the incremental borrowing rate, adjusted for the lease term, based on the information available at the lease commencement date. Lease agreements with lease and non-lease components are generally accounted for as a single lease component. The Company’s operating lease expense is recognized on a straight-line basis over the lease term. Operating lease expense was $ 0.8 million and $ 1.6 million for the three and six months ended June 30, 2022, respectively. Rent expense for the three and six months ended June 30, 2021 was $ 0.5 million and $ 0.9 million, respectively. Cash paid for amounts included in the measurement of the lease liabilities was $ 0.7 million and $ 1.4 for the three and six months ended June 30, 2022, respectively. The weighted-average discount rate is 4.1 % and the weighted-average remaining lease term is 8.1 years as of June 30, 2022. Maturities of operating lease liabilities at June 30, 2022 is as follows (in thousands): Amount Remainder of 2022 $ 1,442 2023 3,016 2024 3,009 2025 2,769 2026 2,724 Thereafter 10,194 Total lease payments 23,154 Less: imputed interest ( 3,550 ) Present value of lease liabilities $ 19,604

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2022
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	Note 9. Accrued Liabilities Accrued liabilities were comprised of the following (in thousands): As of As of Payroll-related $ 2,490 $ 2,818 Property, plant and equipment 3,457 1,446 Deferred revenue 941 200 Other 1,362 1,031 Total current accrued liabilities $ 8,250 $ 5,495

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Long-Term Debt	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 Amended 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 Amended Revolving Loan Credit Agreement, together with the Amended Term Loan Credit Agreement, the Amended Credit Agreement). The Amended Credit Agreement provides for a $ 57.135 million credit facility (the Amended Credit Facility) consisting of a $ 52.135 million senior secured term loan (the Amended Term Loan) and a $ 5.0 million working capital facility (the Amended Revolver). The Amended Term Loan consists 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 Amended Credit Agreement, an additional $ 5.0 million will be funded on October 31, 2022, $ 10.0 million is available in the first half of 2023, $ 10.0 million is available in the second half of 2023 and $ 10.0 million is 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 Amended Credit Agreement) of $ 10.0 million and $ 15.0 million, respectively. The maximum loan amount under the Amended Revolver is $ 5.0 million, and the Company may request the lenders to increase such amount up to $ 15.0 million. Borrowings on the Amended Revolver are limited in accordance with a borrowing base calculation. The interest on the Amended Term Loan is 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 is prepaid at any time, the prepayment fee is based on the amount being prepaid and an applicable percentage amount, such as 3%, 2%, or 1%, based on the date the prepayment is made after the closing date of the Amended Term Loan. Interest on the outstanding balance of the Amended Revolver will be 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 Amended Credit Facility is May 1, 2027 . On the date of termination of the Amended Term Loan or the date on which the obligations under the Amended Term Loan become due and payable in full, the Company will pay an exit fee in an amount equal to five percent of the total aggregate principal amount of term loans made pursuant to the Amended Term Loan as of such date. The Amended Credit Agreement contains 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. We are currently working with our lender to amend certain financial covenants applicable to the Amended Term Loan and the Amended Revolver to take account of our revised revenue outlook for 2022. However, we can make no assurances that such amendments will be agreed by our lender. Long-term debt, net consists of the following (in thousands): As of As of Long-term debt $ 17,135 $ 12,000 Cumulative accretion of exit fee 24 90 Unamortized debt discount and debt issuance costs ( 341 ) ( 220 ) Long-term debt, net $ 16,818 $ 11,870 At June 30, 2022, the scheduled maturities of the Company's debt obligations were as follows (in thousands): Amount Remainder of 2022 $ — 2023 — 2024 — 2025 5,712 2026 8,567 Thereafter 2,856 Total $ 17,135 As of June 30, 2022, the fair value of the Company's long-term debt approximates its carrying value. The fair value of the Company's long-term debt was based on observable market inputs (Level 2).

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 11. Stock-Based Compensation Employee Stock Incentive Plan The Company maintains a stock incentive plan, which 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 will vest over a four-year period for all employees. 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 and the annual equity-based awards granted to the Company’s non-employee, independent directors granted thereafter will cliff vest after one year from the date of grant. Stock Options The following table summarizes the stock option activity for the six months ended June 30, 2022 (in thousands, except share and per share data): Number of Weighted Weighted Average Aggregate Outstanding at January 1, 2022 2,764,112 $ 4.63 8.69 $ 45,280 Granted 916,150 $ 14.98 Exercised ( 55,232 ) $ 1.79 Cancelled or forfeited ( 108,969 ) $ 10.09 Outstanding at June 30, 2022 3,516,061 $ 7.20 8.54 $ 15,798 Exercisable at June 30, 2022 1,068,360 $ 2.62 8.20 $ 6,946 Vested and expected to vest at June 30, 2022 3,231,379 $ 7.80 8.72 $ 13,536 The weighted average assumptions used in the Black-Scholes pricing model for stock options granted during the three and six months ended June 30, 2022 were as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Estimated dividend yield - % - % - % - % Weighted-average expected stock price volatility 33.47 % 33.86 % 33.14 % 35.28 % Weighted-average risk-free interest rate 2.90 % 1.05 % 2.09 % 0.91 % Expected average term of options (in years) 6.25 5.85 6.25 5.92 Weighted-average fair value of common stock $ 14.11 $ 16.00 $ 14.98 $ 15.23 Weighted-average fair value per option $ 5.44 $ 5.42 $ 5.48 $ 4.52 Restricted Stock The following table summarizes the restricted stock unit activity for the six months ended June 30, 2022 (in thousands, except share and per share data): Number of Weighted Outstanding at January 1, 2022 — $ — Granted 28,071 $ 7.43 Vested — $ — Forfeited — $ — Outstanding at June 30, 2022 28,071 $ 7.43 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. The Company issued 13,235 shares of common stock under the ESPP during the three and six months ended June 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 June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Cost of sales $ 44 $ — $ 63 $ — Research and development 48 50 113 77 Sales and marketing 126 30 225 52 General and administrative 716 222 1,320 356 Total stock-based compensation expense $ 934 $ 302 $ 1,721 $ 485 Stock-based compensation expense related to stock options was $ 0.9 million and $ 0.3 million for the three months ended June 30, 2022 and 2021, respectively and $ 1.7 million and $ 0.5 million for the six months ended June 30, 2022 and 2021, respectively. Unrecognized compensation expense related to stock options was $ 11.1 million at June 30, 2022, which is expected to be recognized as expense over the weighted-average period of 3.19 years. Stock-based compensation expense related to restricted stock units was not significant for the three and six months ended June 30, 2022 and 2021. Unrecognized compensation expense related to restricted stock units was $ 0.2 million at June 30, 2022, which is expected to be recognized as expense over the weighted-average period of 0.92 years. Stock-based compensation expense related to the ESPP was not significant for the three and six months ended June 30, 2022 and 202 1. Total compensation cost related to the ESPP not yet recognized also was not significant. As of June 30, 2022, an insignificant amount has been withheld on behalf of employees for future purchase under the ESPP.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	Note 13. Net Loss Per Share Basic and diluted net income (loss) per share is computed using the two-class method when the Company has issued shares that meet the definition of participating securities. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period without consideration for common stock equivalents. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period and potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be anti-dilutive. Potential common stock equivalents consist of the Company's common stock issuable upon exercise of stock options, employee stock purchase rights, and convertible preferred stock. For periods of net loss, basic and diluted earnings per share are the same as the effect of the assumed exercise of stock options and convertible preferred stock is anti-dilutive. 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 June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Net loss $ ( 6,203 ) $ ( 2,250 ) $ ( 11,700 ) $ ( 2,905 ) Weighted average shares used in computing net loss per share—basic and diluted 28,057,801 4,328,222 28,044,460 3,965,741 Net loss per share—basic and diluted $ ( 0.22 ) $ ( 0.52 ) $ ( 0.42 ) $ ( 0.73 ) The following is a summary of the Company's 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 June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Employee share-based awards to purchase common stock 3,818,283 2,446,307 3,620,794 2,349,100 Convertible Series A preferred stock — 9,136,771 — 9,238,864 Total 3,818,283 11,583,078 3,620,794 11,587,964

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions Disclosure	Note 14. Related Parties The Company has identified the following as related parties through common control: Meeches LLC (Meeches) and Thomas E. Davis, LLC (TED LLC). Meeches is controlled by Ted Davis and Irene Davis, founders and current directors, and greater than five percent stockholders of the Company. TED, LLC is also controlled by Ted Davis. The Company leased certain real property and had a related party note receivable totaling $ 0.5 million, which was received during the three months ended March 31, 2021. The Company leases certain real property from Meeches and did not have any outstanding balances owed to Meeches as of June 30, 2022 or December 31, 2021. For the three months ended June 30, 2022 and 2021, the Company paid Meeches $ 0.1 million and $ 0.1 million, respectively. For the six months ended June 30, 2022 and 2021, the Company paid Meeches $ 0.2 million and $ 0.1 million, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes For the three months ended June 30, 2022 and 2021, the Company recorded an income tax benefit of $ 0.4 million and $ 0.6 million, respectively. The effective tax rates for the three months ended June 30, 2022 and 2021 was 6.0 % and 20.6 %, respectively. The effective tax rates differ from the federal statutory rate primarily due to losses not expected to be benefitted. For the six months ended June 30, 2022 and 2021, the Company recorded an income tax benefit of $ 0.8 million and $ 0.7 million, respectively. The effective tax rates for the six months ended June 30, 2022 and 2021 was 6.1 % and 20.5 %, respectively. The effective tax rates differ from the federal statutory rate primarily due to losses not expected to be benefitted.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Accounting, Presentation and Use of Estimates	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, 2021, 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 implications of COVID-19. Actual results can differ from those estimates. Certain prior period amounts have been reclassified to conform to presentation for the current year. 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, 2021, included in the Company's Annual Report on Form 10-K filed with the SEC on March 18, 2022 (the 2021 Annual Report on Form 10-K). Refer to "Notes to Financial Statements—Note 2. Summary of Significant Accounting Policies," within the 2021 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.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Effective January 1, 2022, the Company adopted ASU No. 2016-02, Leases (Topic 842) using the modified retrospective approach, applied at the beginning of the period of adoption, and elected the package of transitional practical expedients. The adoption of this standard resulted in recording operating right-of-use lease assets of $ 20.3 million, which included reclassifying approximately $ 0.2 million of deferred rent as a component of the operating lease asset as of January 1, 2022. The adoption also resulted in recording operating lease liabilities of $ 20.5 million as of January 1, 2022. The standard did not have an impact on the condensed statements of operations and cash flows. Refer to Note 7, Leases, herein for additional information pertaining to the adoption of the new standard. Effective January 1, 2022, the Company adopted ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which removed certain exceptions to the general principles in Accounting Standards Codification (ASC) 740 and clarified and amended certain guidance to promote consistent application. The adoption of this standard did not have a significant impact on the Company's condensed financial statements. Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326), which introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses and will apply to accounts receivable. The new guidance will be effective for Teknova’s annual and interim periods beginning after December 15, 2022. Teknova is currently evaluating the impact of the adoption of the standard on the financial statements and does not anticipate the standard to have a significant impact.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Teknova’s revenue, disaggregated by business line, was as follows (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Lab Essentials $ 8,393 $ 6,456 $ 15,368 $ 13,246 Clinical Solutions 2,943 1,593 6,755 2,664 Sample Transport — 37 6 961 Other 354 227 708 520 Total revenue $ 11,690 $ 8,313 $ 22,837 $ 17,391 Teknova’s revenue, disaggregated by geographic region, was as follows (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 United States $ 11,285 $ 8,061 $ 22,105 $ 16,776 International 405 252 732 615 Total revenue $ 11,690 $ 8,313 $ 22,837 $ 17,391

Concentrations of Risk (Tables)

Concentrations of Risk (Tables)	6 Months Ended
	Jun. 30, 2022
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 are presented as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, As of As of 2022 2021 2022 2021 June 30, 2022 December 31, 2021 Distributor customer A * 10 % * * 12 % 16 % Distributor customer B 14 % 19 % 13 % 17 % 16 % 10 % Direct customer A * * * * * 12 % * 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 June 30, For the Six Months Ended June 30, As of As of 2022 2021 2022 2021 June 30, 2022 December 31, 2021 Distributor supplier A 39 % 32 % 35 % 36 % 23 % 20 % Direct supplier A * * 12 % * * * Direct supplier B 16 % 10 % 14 % * 14 % * Direct supplier C * 16 % * 14 % * * * Represents less than 10%.

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 Balance at December 31, 2021 Gross Accumulated Net Gross Accumulated Net Definite Lived: Customer relationships $ 9,180 $ 3,969 $ 5,211 $ 9,180 $ 3,395 $ 5,785 Indefinite Lived: Tradename 12,919 — 12,919 12,919 — 12,919 Total intangible assets $ 22,099 $ 3,969 $ 18,130 $ 22,099 $ 3,395 $ 18,704
Schedule of Future Amortization Expense	As of June 30, 2022, the remaining weighted-average useful life of definite lived intangible assets is 4.5 years. The estimated future amortization expense of intangible assets with definite lives is as follows (in thousands): Amount Remainder of 2022 $ 574 2023 1,148 2024 1,148 2025 1,148 2026 1,148 Thereafter 45 Estimated future amortization expense of definite-lived intangible assets $ 5,211

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Net	Inventories consist of the following (in thousands): As of As of Finished goods, net $ 5,001 $ 3,172 Work in process 109 105 Raw materials, net 2,799 2,117 Total inventories, net $ 7,909 $ 5,394

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2022
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 As of Machinery and equipment $ 11,503 $ 9,942 Office furniture and equipment 659 649 Vehicles 70 70 Leasehold improvements 2,848 2,805 15,080 13,466 Less—Accumulated depreciation ( 3,413 ) ( 2,473 ) 11,667 10,993 Construction in progress 35,591 18,817 Total property, plant and equipment, net $ 47,258 $ 29,810

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule Of Maturities Of Operating Lease Liabilities	Maturities of operating lease liabilities at June 30, 2022 is as follows (in thousands): Amount Remainder of 2022 $ 1,442 2023 3,016 2024 3,009 2025 2,769 2026 2,724 Thereafter 10,194 Total lease payments 23,154 Less: imputed interest ( 3,550 ) Present value of lease liabilities $ 19,604

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Accrued Liabilities, Current [Abstract]
Summary of Accrued Liabilities	Accrued liabilities were comprised of the following (in thousands): As of As of Payroll-related $ 2,490 $ 2,818 Property, plant and equipment 3,457 1,446 Deferred revenue 941 200 Other 1,362 1,031 Total current accrued liabilities $ 8,250 $ 5,495

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Summary of Components of Carrying Value of Long-Term Debt	Long-term debt, net consists of the following (in thousands): As of As of Long-term debt $ 17,135 $ 12,000 Cumulative accretion of exit fee 24 90 Unamortized debt discount and debt issuance costs ( 341 ) ( 220 ) Long-term debt, net $ 16,818 $ 11,870
Schedule of Maturities of Term Loan	At June 30, 2022, the scheduled maturities of the Company's debt obligations were as follows (in thousands): Amount Remainder of 2022 $ — 2023 — 2024 — 2025 5,712 2026 8,567 Thereafter 2,856 Total $ 17,135

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
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 six months ended June 30, 2022 (in thousands, except share and per share data): Number of Weighted Weighted Average Aggregate Outstanding at January 1, 2022 2,764,112 $ 4.63 8.69 $ 45,280 Granted 916,150 $ 14.98 Exercised ( 55,232 ) $ 1.79 Cancelled or forfeited ( 108,969 ) $ 10.09 Outstanding at June 30, 2022 3,516,061 $ 7.20 8.54 $ 15,798 Exercisable at June 30, 2022 1,068,360 $ 2.62 8.20 $ 6,946 Vested and expected to vest at June 30, 2022 3,231,379 $ 7.80 8.72 $ 13,536
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 six months ended June 30, 2022 were as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Estimated dividend yield - % - % - % - % Weighted-average expected stock price volatility 33.47 % 33.86 % 33.14 % 35.28 % Weighted-average risk-free interest rate 2.90 % 1.05 % 2.09 % 0.91 % Expected average term of options (in years) 6.25 5.85 6.25 5.92 Weighted-average fair value of common stock $ 14.11 $ 16.00 $ 14.98 $ 15.23 Weighted-average fair value per option $ 5.44 $ 5.42 $ 5.48 $ 4.52
Schedule of restricted stock unit activity	The following table summarizes the restricted stock unit activity for the six months ended June 30, 2022 (in thousands, except share and per share data): Number of Weighted Outstanding at January 1, 2022 — $ — Granted 28,071 $ 7.43 Vested — $ — Forfeited — $ — Outstanding at June 30, 2022 28,071 $ 7.43
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 June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Cost of sales $ 44 $ — $ 63 $ — Research and development 48 50 113 77 Sales and marketing 126 30 225 52 General and administrative 716 222 1,320 356 Total stock-based compensation expense $ 934 $ 302 $ 1,721 $ 485

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Net loss $ ( 6,203 ) $ ( 2,250 ) $ ( 11,700 ) $ ( 2,905 ) Weighted average shares used in computing net loss per share—basic and diluted 28,057,801 4,328,222 28,044,460 3,965,741 Net loss per share—basic and diluted $ ( 0.22 ) $ ( 0.52 ) $ ( 0.42 ) $ ( 0.73 )
Summary of Common Stock Equivalents Excluded from Calculation of Diluted Loss per Share	The following is a summary of the Company's 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 June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Employee share-based awards to purchase common stock 3,818,283 2,446,307 3,620,794 2,349,100 Convertible Series A preferred stock — 9,136,771 — 9,238,864 Total 3,818,283 11,583,078 3,620,794 11,587,964

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Operating Lease, Right-of-Use Asset	$ 19,154	$ 20,300	$ 0
Deferred rent	0	200	$ 269
Operating lease liabilities	$ 19,604	$ 20,500

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation Of Revenue [Line Items]
Revenue	$ 11,690	$ 8,313	$ 22,837	$ 17,391
United States [Member]
Disaggregation Of Revenue [Line Items]
Revenue	11,285	8,061	22,105	16,776
International [Member]
Disaggregation Of Revenue [Line Items]
Revenue	405	252	732	615
Lab Essentials [Member]
Disaggregation Of Revenue [Line Items]
Revenue	8,393	6,456	15,368	13,246
Clinical Solutions [Member]
Disaggregation Of Revenue [Line Items]
Revenue	2,943	1,593	6,755	2,664
Sample Transport [Member]
Disaggregation Of Revenue [Line Items]
Revenue		37	6	961
Other [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 354	$ 227	$ 708	$ 520

Concentrations of Risk - Summar

Concentrations of Risk - Summary of revenues and outstanding balance of accounts receivable (Details) - Customer Concentration Risk [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Accounts Receivable [Member] | Distributor customer A [Member]
Product Information [Line Items]
Concentration Risk Percentage	12%		12%		16%
Accounts Receivable [Member] | Distributor customer B [Member]
Product Information [Line Items]
Concentration Risk Percentage	16%		16%		10%
Accounts Receivable [Member] | Direct customer A [Member]
Product Information [Line Items]
Concentration Risk Percentage					12%
Revenue Benchmark [Member] | Distributor customer A [Member]
Product Information [Line Items]
Concentration Risk, Percentage		10%
Revenue Benchmark [Member] | Distributor customer B [Member]
Product Information [Line Items]
Concentration Risk, Percentage	14%	19%	13%	17%

Concentrations of Risk - Summ_2

Concentrations of Risk - Summary of inventory purchases and outstanding balance of accounts payable (Details) - Customer Concentration Risk [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Distributor supplier A [Member] | Accounts Payable [Member]
Product Information [Line Items]
Concentration Risk Percentage	23%		23%		20%
Distributor supplier A [Member] | Inventory Purchases [Member]
Product Information [Line Items]
Concentration Risk, Percentage	39%	32%	35%	36%
Direct supplier A [Member] | Inventory Purchases [Member]
Product Information [Line Items]
Concentration Risk, Percentage			12%
Direct supplier B [Member] | Accounts Payable [Member]
Product Information [Line Items]
Concentration Risk Percentage	14%		14%
Direct supplier B [Member] | Inventory Purchases [Member]
Product Information [Line Items]
Concentration Risk, Percentage	16%	10%	14%
Direct supplier C [Member] | Inventory Purchases [Member]
Product Information [Line Items]
Concentration Risk, Percentage		16%		14%

Inventories, Net - Schedule of

Inventories, Net - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods, net	$ 5,001	$ 3,172
Work in process	109	105
Raw materials, net	2,799	2,117
Total inventories, net	$ 7,909	$ 5,394

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Summary of Components of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 15,080	$ 13,466
Less—Accumulated depreciation	(3,413)	(2,473)
Property, plant and equipment, after depreciation	11,667	10,993
Construction in progress	35,591	18,817
Total property, plant and equipment, net	47,258	29,810
Machinery and Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	11,503	9,942
Office Furniture and Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	659	649
Vehicles [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	70	70
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 2,848	$ 2,805

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 0.5	$ 0.4	$ 1	$ 0.8
Capitalized interest costs	$ 0.3	$ 0	$ 0.6	$ 0

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating lease expense	$ 0.8		$ 1.6
Lease liabilities cash paid	$ 0.7		$ 1.4
Weighted-average discount rate	4.10%		4.10%
Weighted-average remaining lease term	8 years 1 month 6 days		8 years 1 month 6 days
Rent expense		$ 0.5		$ 0.9
Maximum [Member]
Remaining lease terms	10 years		10 years
Minimum [Member]
Remaining lease terms	1 year		1 year

Leases - Schedule of maturities

Leases - Schedule of maturities of operating lease liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 01, 2022
Lessee Disclosure [Abstract]
Remainder of 2022	$ 1,442
2023	3,016
2024	3,009
2025	2,769
2026	2,724
Thereafter	10,194
Total lease payments	23,154
Less: imputed interest	(3,550)
Present value of lease liabilities	$ 19,604	$ 20,500

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Finite Lived Intangible Assets [Line Items]
Carrying amount of goodwill			$ 0	$ 0
Amortization of intangible assets	$ 287	$ 287	$ 574	$ 574
Acquired finite-lived intangible assets, weighted average useful life			4 years 6 months

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Summary of Intangible Assets with Definite and Indefinite Lives (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule Of Goodwill And Intangible Assets [Line Items]
Intangible Assets, Gross	$ 22,099	$ 22,099
Intangible Assets, Accumulated Amortization	3,969	3,395
Intangible Assets, Net (Including Goodwill), Total	18,130	18,704
Trade Names [Member]
Schedule Of Goodwill And Intangible Assets [Line Items]
Intangible Assets, Gross	12,919	12,919
Intangible Assets, Accumulated Amortization	0	0
Intangible Assets, Net (Including Goodwill), Total	12,919	12,919
Customer Relationships [Member]
Schedule Of Goodwill And Intangible Assets [Line Items]
Intangible Assets, Gross	9,180	9,180
Intangible Assets, Accumulated Amortization	3,969	3,395
Intangible Assets, Net (Including Goodwill), Total	$ 5,211	$ 5,785

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Schedule of Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 574
2023	1,148
2024	1,148
2025	1,148
2026	1,148
Thereafter	45
Estimated future amortization expense of definite-lived intangible assets	$ 5,211

Accrued Liabilities - Summary o

Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Payroll-related	$ 2,490	$ 2,818
Property, plant and equipment	3,457	1,446
Deferred revenue	941	200
Other	1,362	1,031
Total current accrued liabilities	$ 8,250	$ 5,495

Long-Term Debt - Additional inf

Long-Term Debt - Additional information (Details) - USD ($) $ in Thousands		6 Months Ended				12 Months Ended
	May 10, 2022	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2022	Jun. 30, 2023	Oct. 31, 2022	Dec. 31, 2021	Mar. 26, 2021
Debt Instrument [Line Items]
Maximum amount borrowed	$ 5,000
Line of credit working capital	$ 5,000
Unused Borrowing Capacity Amount								$ 40,135
Cash Received Under the Term Loan										$ 12,000
Line of Credit Facility, Description	If any advance under the Term Loan is prepaid at any time, the prepayment fee is based on the amount being prepaid and an applicable percentage amount, such as 3%, 2%, or 1%, based on the date the prepayment is made after the closing date of the Amended Term Loan.
Debt issuance cost				$ 151	$ 153
Long-term Debt, Gross				17,135					$ 12,000
Long term debt, net				$ 16,818					$ 11,870
Forecast [Member]
Debt Instrument [Line Items]
Unused Borrowing Capacity Amount		$ 10,000	$ 10,000				$ 10,000	$ 5,000
Contingent Revenue		19,000	15,000
Net revenue requirement for the financial covenant						$ 42,500
Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Increase Borrowing Capacity	$ 15,000
Maturity date	May 01, 2027
Amended Credit Agreement [Member] | Forecast [Member]
Debt Instrument [Line Items]
Liquidity, line of credit		$ 15,000	$ 10,000
the Facility [Member]
Debt Instrument [Line Items]
Maximum amount borrowed	$ 57,135
Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Maximum amount borrowed	52,135
Term Loan [Member]
Debt Instrument [Line Items]
Maximum amount borrowed at the end of month	$ 5,135
Term Loan [Member] | LIBOR [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%
Amended Revolving Loan [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.75%
Amended Revolving Loan [Member] | LIBOR Floor [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%

Long-Term Debt - Summary of Com

Long-Term Debt - Summary of Components of Carrying Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Long term debt	$ 17,135	$ 12,000
Cumulative accretion of exit fee	24	90
Unamortized debt discount and debt issuance costs	(341)	(220)
Long-term debt, net	$ 16,818	$ 11,870

Long-Term Debt - Summary of Sch

Long-Term Debt - Summary of Scheduled Maturities of Term Loan (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Long-Term Debt, Unclassified [Abstract]
Remainder of 2022	$ 0
2023	0
2024	0
2025	5,712
2026	8,567
Thereafter	2,856
Total	$ 17,135

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 11.1		$ 11.1
Weighted-average recognition period			3 years 2 months 8 days
Issuance of common stock under employee stock purchase plan, shares	13,235		13,235
Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock under employee stock purchase plan, shares	13,235		13,235
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	$ 0.3	$ 1.7	$ 0.5
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 0.2		$ 0.2
Weighted-average recognition period			11 months 1 day
Board Of Director [Member] | 2021 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			1 year	3 years
Employees [Member] | 2021 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Options Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Outstanding, Beginning balance | shares	2,764,112
Number of Options, Granted | shares	916,150
Number of Options, Exercised | shares	(55,232)
Number of Options, Cancelled or forfeited | shares	(108,969)
Number of Options, Outstanding, Ending balance | shares	3,516,061	2,764,112
Number of Options, Exercisable, Ending balance | shares	1,068,360
Number of Options, Vested and expected to vest | shares	3,231,379
Weighted Average Exercise Price per Share, Options outstanding, Beginning balance | $ / shares	$ 4.63
Weighted Average Exercise Price per Share, Granted | $ / shares	14.98
Weighted Average Exercise Price per Share, Exercised | $ / shares	1.79
Weighted Average Exercise Price per Share, Cancelled or forfeited | $ / shares	10.09
Weighted Average Exercise Price per Share, Options outstanding, Ending balance | $ / shares	7.20	$ 4.63
Weighted Average Exercise Price per Share, Exercisable, Ending balance | $ / shares	2.62
Weighted Average Exercise Price per Share, Vested and expected to vest | $ / shares	$ 7.80
Weighted Average Remaining Contractual Term (in years), Options outstanding	8 years 6 months 14 days	8 years 8 months 8 days
Weighted Average Remaining Contractual Term (in years), Exercisable	8 years 2 months 12 days
Weighted Average Remaining Contractual Term (in years), Vested and expected to vest	8 years 8 months 19 days
Aggregate Intrinsic Value, Options outstanding | $	$ 15,798	$ 45,280
Aggregate Intrinsic Value, Exercisable | $	6,946
Aggregate Intrinsic Value, Vested and expected to vest | $	$ 13,536

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Weighted-Average Assumptions used in Black-Scholes Option-Pricing Model (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement [Abstract]
Estimated dividend yield	0%	0%	0%	0%
Weighted-average expected stock price volatility	33.47%	33.86%	33.14%	35.28%
Weighted-average risk-free interest rate	2.90%	1.05%	2.09%	0.91%
Expected average term of options (in years)	6 years 3 months	5 years 10 months 6 days	6 years 3 months	5 years 11 months 1 day
Weighted Average Fair Value Of Common Stock	$ 14.11	$ 16	$ 14.98	$ 15.23
Weighted-average fair value per option	$ 5.44	$ 5.42	$ 5.48	$ 4.52

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of restricted stock unit activity (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding at January 1, 2022, Beginning balance | shares	0
RSU, Granted | shares	28,071
RSU, Vested | shares	0
RSU, Forfeited | shares	0
Outstanding at June 30, 2022, Ending balance | shares	28,071
Weighted Average Grant Fair Value, Beginning Balance | $ / shares	$ 0
Weighted Average Grant Fair Value, Granted | $ / shares	7.43
Weighted Average Grant Fair Value, Vested | $ / shares	0
Weighted Average Grant Fair Value, Forfeited | $ / shares	0
Weighted Average Grant Fair Value, Ending Balance | $ / shares	$ 7.43

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 934	$ 302	$ 1,721	$ 485
Cost of Sales [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	44	0	63	0
Research and Development Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	48	50	113	77
Selling and Marketing Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	126	30	225	52
General and Administrative Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 716	$ 222	$ 1,320	$ 356

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Benefit from income taxes	$ (395)	$ (583)	$ (754)	$ (747)
Effective Tax Rate	6%	20.60%	6.10%	20.50%

Net Loss Per Share - Schedule o

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss	$ (6,203)	$ (2,250)	$ (11,700)	$ (2,905)
Weighted Average Number of Shares Outstanding, Basic	28,057,801	4,328,222	28,044,460	3,965,741
Weighted Average Number of Shares Outstanding, Diluted	28,057,801	4,328,222	28,044,460	3,965,741
Net loss per share - basic	$ (0.22)	$ (0.52)	$ (0.42)	$ (0.73)
Net loss per share - diluted	$ (0.22)	$ (0.52)	$ (0.42)	$ (0.73)

Net Loss Per Share - Summary of

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock options to purchase common stock	3,818,283	11,583,078	3,620,794	11,587,964
Employee share-based awards to purchase common stock [Member]
Stock options to purchase common stock	3,818,283	2,446,307	3,620,794	2,349,100
Convertible Series A Preferred Stock [Member]
Stock options to purchase common stock	0	9,136,771	0	9,238,864

Related Parties - Additional In

Related Parties - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021
Related Party Transaction [Line Items]
Related party notes receivable					$ 0.5
Meeches L L C [Member]
Related Party Transaction [Line Items]
Payment for Rent Expense	$ 0.1	$ 0.1	$ 0.2	$ 0.1