TKNO - Earnings call 3 2023 | Alpha Teknova, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Hello, and welcome to Alpha Teknova, Inc.

Third Quarter 2023 Financial Results Conference Call. [Operator Instructions]I would now like to hand the conference over to Jennifer Henry, Senior Vice President of Marketing.

You may begin.

Jennifer Henry

Thank you, operator. Quarter Earnings Third Call. Teknova's to of Conference XXXX Welcome to who Gunstream, call and Lowell, With the remarks forward-looking Officer, a today's your Stephen then Teknova's make Teknova's take business events uncertainties of that are the and differ. we Financial statements Matt regarding subject make me or on reminder, that for expectations to call, this and during and and may are company, President questions.As actual cause prepared the Officer; results those Chief risks including goals financial Chief will performance Executive

reflect management these events is statements, to company's company's can company's company its the the insight the are or required financial by other to could which Additional future business itself factors, risk when information a of current strategies. release the and fully press provide not performance company's its update more in various that commit the filings concerning and of views, obligate earlier they the financial effectiveness except evaluating today, measures new as factors information, comments as results, or change included non-GAAP believes with in the result the described issued company in Today's forward-looking meaningful does and law.The GAAP addition SEC.

be superior which at will and measures can this a use differ GAAP. supplement Relations and afternoon, this a financial that are turn issued to non-GAAP financial included advised measures therefore or certain section substitute measures financial as today's should webcast.And is remarks. similarly Non-GAAP presentation also of press the as by Reconciliations used in on accordance non-GAAP named of to to The that our other posted only accompany has I Teknova's considered deck be prepared always now, to measures on we website will and to company a as be over It measures non-GAAP companies.Please non-GAAP www.sec.gov/edgar. We slide Stephen. supplemental not website prepared posted financial Teknova's may with to for of call. accessed in financial financial GAAP results during measures the from today's call the of this release Investor the in

Stephen Gunstream

they Good will scale custom you, lives. difficult us our We customers our with against life the industry third thank everyone, both Teknova Jen. accelerate of and of short for afternoon, call. you, as reagents products and help XXXX to solid operationally, a from reagents live market. Thank earnings discovery and commercialization.We third to joining with leading people are turnaround longer, vaccines advance financially manufacture quarter, diagnostics the a for positioned novel backdrop for that quarter is healthier molecular therapies, critical producer high-quality their a to sciences times and had

about deliver challenging we very through team testament in market Our the diversity quarter, optimistic a $XX.X placement, the remain quarter. concurrent the markets of third with are potential our and and made the pleased and we and capital dedication third these segments. conditions we've $XX down our is talented a long-term private our during million offering ability paid the to the direct in strategy executing Also, of of registered growth debt.We to of target million raised our of progress

certified update, GMP-grade for As been we new has QX reported during our facility production. our

multiyear this will investment business. for We enthusiastic are about unlock the the potential

ability us both of high been the which and all development. customers, now diagnostic June, available of in extended and gene X for profile qualified by involved in the and companies our of bottles, bioprocessing which to therapy and research grade giving products of types customers market the During target production, beginning are addition, cell have since XX segments.In we single-use nearly serve an assortment QX, bags we include clinical

increased bear been have fruit qualification reaction to with to in that made will audits XXXX. in customers encouraged mid our our and we Teknova's to begin late have have facility response very confidence conversations the the these GMP to transformation. new by our The facility the We investments

to our are In launched suite And we progressing facility schedule. third we our buffer As of extending the to ahead deliver give when our the existing the annual of in reminder, bioproduction serotype $XXX kit the us support AEX believe plus I'm a this operating product will pleased front, product the reagents a September, new on of portfolio approximately added to to we infrastructure revenue utilized.Next, fully million include capacity say by screening R&D plasmid new workflow. introductions AAVX.

confronting at operational QX.Through and workflows product our our of this data to therapies Needless capsid expenses. life managed late for analytics earlier empty/full found Our Gene advance ourselves to valued in others I'm posters dynamic QX. commercialization. In more is challenging the new including reagents, Therapy, full Cell as in sciences, reagent now to European product our of to launch a become new and encompasses their during Society XX kit this introduced towards AAV our for pipeline, they market and we October, against we along PCR an streamline proud note, quarter AAV-related plan simplifying process expected say, we streamlining for kit The offerings, more in customers to the X to even analysis. expect many scientists. supplier with our presented continued which spring, and deliver we we development than total successfully just environment the

count number near our total of the see grateful recent we $XX discussion larger and biotech, the a $XX expect position financials. purchasing past canceling very growth clinical more trials. so, million. call previously conserving Our less outflow employee the clinical for XXXX.As delaying, last optimistic am at we revenue effort audit quarter put of outlook to by cautiously XXX of our observed customers target in end we going term, outflow us us total success Even and are free we remainder of we capital reducing I with look XXXX, year. million to have to our the our worked into of launches, tirelessly free a reduced product Combined forward.In the Matt from who increase guidance of focused we the employees That therefore we our XXXX.I of in for emerging historically as the third present we associates, than our segments, continue and from for the an at on to was high expect one or seen conditions said, low end we in annually. to new over to $XX will finish QX and market of for cash of will outperform the now than believe hand fiscal for our persist, turn now communicated the expect qualifications million of revenue cash to XXX

Matthew Lowell

the good with XXXX, $XX.X million was revenue quarter of quarter the for third afternoon, everyone.Starting XX% and Total a decline from XXXX. $X.X revenue. Stephen, Thanks, of million in third

extent, The from $X.X large of and $X.X customer. market, a use both deliveries number quarter to the average customers, third targeted XXXX. revenue quarter X%.Lab decline and lower and XX% million XXXX, was X Lab in was lower customer only, at RUO the per a was the approximately catalog growth third in third include of Essentials of the custom a attributable XXXX, revenue million decrease underlying of products. research or lesser Essentials Excluding in non-biotech products are quarter to

offset quality Essentials Excluding and or practices, of components to deliveries -- the primarily XX% third are decline large manufacturing from X approximately Lab diagnostic in products the good third development are in customers of standards as quarter million customers. the of million Solutions in was by a according quarter number GMP, XX%.Clinical revenue customer, or higher in per manufacture to customer Clinical products. $X.X in XXXX, and was by lower of revenue Solutions Solutions XXXX. revenue therapeutic quarter, used $X.X Clinical revenue the third and our a average attributable inputs decline revenue grew The made our partially

purchase over revenue We per customer they their as expect increase ramp to volumes. up time

mix clinical However, who newer of by be typically customers order this can less. metric the affected

XXXX. XXXX Just to for the income revenue the profit larger this there category.On in be in as compared compared for XXXX. driven costs, to was and of XXXX. quarter the expenses the of by of to which lesser lumpiness reduced XXXX, which for and million down to the revenue Lab primarily partially third the extent, average Solutions of lower Essentials, the were decrease overhead gross margin increased The profit a statement. Gross percentage quarter $XX.X a XXXX the of by $X.X orders $X.X were to quarter Gross of third revenue compared in to is the offset in XX.X% million $XX.X the million third decrease quarter headcount.Operating third absorption third manufacturing from reminder, due in third of was quarter in can of Clinical costs, fixed was quarter-to-quarter associated million quarter XX.X% in revenue of

paid $X.X non-recurring, impairment through of was third operating third goodwill compared of quarter spending and million concurrent million Excluding $XX.X the down XXXX. the $XX.X charge XXXX, a placement, raised $XX.X the of non-cash were quarter, the million the expenses debt. by related in of the and $X.X ATM of in to the XXXX in in down direct and costs primarily facility offering quarter write-off professional we The third XXXX driven capital decrease the charges we to fees.During of quarter third private quarter headcount primarily million reduced registered third long-term offering and recorded of million

offering not quarter compared to and the diluted straight net $XX.X compared or The driven net this of in was measure, of third for use As losses operating recorded to recorded $X.X million This million impairment the of of do $XX.X off offset of were capital third was non-recurring quarter excluding pre-tax quarter in increase a costs non-current to its XXXX. the third loss to the expenditures expenditures. third because XXXX, EBITDA, for expect depreciation charge marks share, $X.X million third quarter non-GAAP decreases of the of against XXXX XXXX. the company minimal of increases $X.X to XXXX expense result, million balance quarter goodwill term.Net diluted million quarter this share quarter valuation ATM quarter third allowances compared per wrote in of facility for Capital primarily quarter flow XXXX. operating was for $X.XX by carryforwards.Adjusted for million, third XXXX the a negative the $X.X loss facility of The or losses, the in third somewhat XXXX the higher negative sequential quarter to the sheet. cash higher fifth add-backs.On $X.XX due by loss we million, our a incremental we in $X.X for against of tax near per

quarter now of million have the and flow, facility.Free equipment, we $XX.X We necessary of was balance cash sheet. cash third plant negative compared due to was used quarter negative in decrease XXXX. to $X.X a the new expenditures.Turning manufacturing utilize property, XXXX for activities investment cash the million a capital for prior decrease our less completed as year measure initial operating in non-GAAP that to define operating both third and to period in lower compared This the the used purchases to of capital activities,

communicated and debt.And will As of to total now cash and XXXX fiscal the of in that XXXX anticipate of revenue and previously XX, guidance our gross end We in on be $XX.X million. low we $XX.X to $XX our at now XXXX, $XX cash million million had September year range million equivalents outlook.

challenging have during year-end. seen expect least XXXX to We through persist market at we conditions the

quarter to second our significantly targets.At operating expectations million charges.Similarly, number manage the is for in XXXX. in critical end posted outflow the we where a started a aggressively down XXXX have the than more have our and year. the lower believe in $XX believe execute $X at cash have on expenses, margin of outlook, September, we top than of quarter be other we company's below than of below from capital at a now while associates, taken end cash non-recurring resumes. outflow levels. row. a to fourth the the expenses the $X.X guidance, step-up reduction outflow the On XXX million last significant non-recurring the reducing year for preserving to less continues during This end, growth XXXX, To resulted The company We investments end in quarter The to during million the aimed to compared revenue investments total lower that the of $XX excluding the it allow annualized achieve quarter made growth with million operating the Based the the and fiscal us expect XXXX had that consistent free cost company needed saw of outlook of at to third hand, for quarter revenue second year, remain company XXXX. strategy free cash despite cash fifth is and fiscal anticipate the operating expenses, XXX excluding charges, expansion we our savings line year of we of will of as lower steps quarter at straight our believe and anticipate XXX growth which expenditures company the free outflow marks when less of we XXXX. in there potential expenses already long-term despite

the quarter.With in additional I'll turn raised sheet call back We capital that, Stephen. with also the our over third strengthened the balance to

Stephen Gunstream

we Thanks, is quarter outlook third our performance The were pleased markets of our with end long-term Matt. the in XXXX. positive. Overall, for

are strategy to our improve on health. to of novel and executing We human committed help products customers the that our other therapies, diagnostics accelerate introduction

will We questions. your take now

Operator

from question Stephens. Instructions] line Jacob with comes of the [Operator first Our Johnson

Jacob Johnson

the guidance. first, Maybe on macro just and

persistence now. lower pointing the any kind of intensify? improvement? where this headwinds of end function a a areas the Is there headwinds of just are You're Or the and to seen you've lack macro of

Stephen Gunstream

Jacob. seeing headwinds Thanks, say Yes. would we're not I intensify.

persistence a lack -- it's of think improvement I improvement. a of of

there the have seeing is slide actually orders. seen good orders additional we out, Specifically, actually we're some news but

here, pretty of cautious this are fact but that been discussions. and it period positives So extended we about an there's the some think given there's I has lots

if did and Essentials. apples-to-apples order comparison we dollar are side, you positive that is you quarter-to-quarter those last from orders look in positive the On the an of Lab just XX% we that be QX then have a against like transcript year, I a And saying, are for -- to fact -- very we some to even starting But totally ready for starting customers the X% in then are And our I have the then said, and non-biotech mentioned amount about growth which funding there, don't orders. that want in at a like remove up. the clinical customers really and lower. increase perspective know related, in their of environment orders cautious given feel lot pick they it, forward. going are potentially are hey, we a we're And get to if

Jacob Johnson

that that Or who And about is quantify to know offering in AAV I the revenue the it. kits? in the on any near kind the term. of a customers. those you is to a of anecdotes in maybe for the just level interest traction door kind then limited you think But Got to opportunity of way continue that, number get customers somewhat maybe just of think there follow-up, how as asking it's build about it's you for are of see the going? buffer And I kits. And out with from good kind to perspective, offering. screening It's

Stephen Gunstream

Yes.

space. with is It's a mean of we there So and has really here happy kit number you great orders buffer lots to is That you in AAV it. from near-term serotype two had AEX mentioned. conversations. a talked get of has I companies do developing yes, complicated team a have It's have have not purify, the very the products. things. goal the number of a that's that super interest, right we're necessarily away screening job very multiple team. that combination right efficient AAVX, mentioned been buffer A but scale One popular, We we and is them working interested one we've into to they're and a And revenue, we're here the as then up. on. still the try them about of which in. It's one done

of or our of can probably the now tell I larger so, next one delivery So actually tried that for year, one a have a of month about within buffers. those you, of it, customers ordered scale has customers

And that ratios. doing we've number we products working catalog we So launched those this to AEX pipeline.I on have it analytical therapies those on that that complete want buffer reagents side gives some now which of way the will of empty/full kit, the this take process for help simplify work but manufacturing we then are obviously, us to. a as new the actually are platforms, AAV want end-to-end, entire that other also off, that pay is quarter. point out the to products they including the last which launched idea kind that streamline and us screening help the And we plasmids, down also

This had digital then we're given PCR sets access product up we've quarter, that great also that seeing of results be feedback. that we'll us externally, customers early the launching couple But a give a they've workflow great some internally. for for as and

with happy helping customers about real are we've then the products But into that that pipeline. developing them things made again, our pipeline. that these these So yes, getting it's down in progress get and

Jacob Johnson

it. Got really context. Stephen. Thanks, helpful That's

Stephen Gunstream

Thanks, Jacob.

Operator

next the line Our comes Steven of Mah Cowen. from with question TD

Steven Mah

Great. A Matt. question for you,

On start by we GMP then when and cost of margin a the maybe gross were hit? are how gross the going think the Or the absorption to to do you low low the be point margins, think starting new about gross point? the which And will grow? inflecting this should of margins when is facility, impacted fixed

Matthew Lowell

we've will I be the margins not added hard impacted have -- in cost QX as in revenue the to it maybe pretty depreciation, to quite bringing leverage had we in think quickly. facility would our we growth, the just say much And a point. allow since just we've I in I they're but low up as leverage higher that from gross we resuming, depreciation But higher we'll had the on a remainder which start significantly additional GMP pretty about particular if we have that revenue, for of here cost production. do could been we're costs gross Yes, certainly GMP other some high structure depreciation -- growth Steve. course, Thanks, cost at we and reference good when margins. then. recently -- see But it's QX, what the more Yes. ratio we to But point once very and fixed when think that of lower. quarter a saw there. additional a mean, say seeing actually see the possible added revenue

Steven Mah

it. Got Okay.

Okay. that sense. dependent makes the Yes. highly on mix. Yes, It's product

Matthew Lowell

Yes. Mix and total volume.

Steven Mah

Yes. I just more bit then little a That in It's on makes sense. expenses. significantly. to the operating down wanted And dig

rate You guys the company Are XXXX? we think should had be now a cost cutting and or into we in rightsized? also pretty balance year going forward is to going then the think significant about as OpEx think how of that efforts, then there about run force. Or QX? quarter, do you the the reduction this more any And should for

Matthew Lowell

Yes.

as mentioned we've As really the $X rate hard course in of that there a the worked it in substantially, expenses, million relates annualized operating remarks, down over during the on basis. to to we savings run year again, bring

where -- reduce since done say year we've we then. obviously So always you the other manage, earlier mentioned to and I things the this looking share that that that rift costs can. through would done we've of we're lion's manage but

we've come nothing be going move So made drivers growth support trend to that but of as substantial the able to you've year for really make back. seen to which expect as investments that that the until us growth, forward, we on beginning it's important a will as we sure from be of I maintain are do those the slightly key now.So think downward and we that

find any the careful very being right we're needed that the excess balance maintaining term. out costs while also aren't the investments So short of to taking for

kind that's So we're at. of where

a down, revenue comes costs of looking the to is is the how think future. And we the outward. so on also when And in I think back lot obviously, outlook sort going depend slightly to and flattish about

Operator

Matt of line the from Larew Blair. comes question William next with Our

Matthew Larew

been it they've the sounds the audits have like your into and for update facility, and GMP customers Thanks new on who've facility. the done qualified

and look of You are year. the kind there at to is you you a you what with the curious, Could And I'm like. commitment of you're talked as sort reflect to you along the least just referenced working of us peeking way the sort customers Anything break that or with pipeline about of fall either beyond higher winter, next qualification of of just they of sort Stephen, now full then level of Midwest, in for of as into maybe you give into spring, of of full internally scaling sort us production sort those that, into sort level audit afoot? production a least like audits business track? points some that from that move give sense, certainty at calendar.

Stephen Gunstream

Yes. Great.

in starting that we're to just now and certainly continue out to XXXX requests winter, on build right So based calendar. book audits into

the So been positive customers facility. the seen it from from the have looks really perspective. pretty good that feedback Obviously, that has

from we've that happy you're with the existing that pretty doing, for alluding than for in that work that and products scale, a a there's have been that that delay. example, so we've from bought less that I'm those qualification they right, customers working and going start is us for It's us from were of companies. customers just have done being with number really that GMP-grade pipeline, one pilots team ramping And converting to what we have is the a that the need migrating. then is other really delay then do it make supplier we start And they to we and them, we'll then an point small it But current can then sizes those an time can quick. it And batch audit, start take planning we'll transition. will tend their period. with much timing the need, we at a facility, a of and actually and to with things, and be them we've sometimes until with what be also before audited of to they production -- our next be their -- more the is and year time very more and if to our host they built.Now -- excited they test urgent current there could piece, from in meeting period comparing through sure but then timing XX-month where environment, ship what So about they're and the make the two, X- at products and field current the in selective it's with this

take that been bit new ramp-up quite a So you recently. are we've can customer. some from that's time And of shifting -- a fairly doing when that

So of us into back we particularly that confidence XXXX, bit gives the half. move a as little

Matthew Larew

benefit you this given throughout then then going within the earnings season, of improvement of year earnings season about or the and last two sort of the October. And sequential from quarter in coin sides we've Okay. sort months heard third throughout have companies the of not

declines the of could what sense you give if We declines trends the perspective, obviously recent But curious an in and the of the from more a year-over-year just order kind of curious latest. just sequential sort saw so And have been. revenue.

Stephen Gunstream

-- not our the to a bottom. like feels tell or think it we're perspective. at near I that can we're you don't But for I'm bottom, at the we're in say position Yes, I

ramps else. it back about is question fast how more than anything the up Just

last I know there hey, were unique you when customer it, -- We I to start the lot growth insight been outside than see, perspective. we year to really underlying encouraged biopharma remove this you But of get had pretty for one-time -- orders on you very have by the really us, been look And X take obviously orders for When at said, orders this I you space. is large more have like a I've recently. I that QX. those,

as right? And that of the that stabilized, to has financial data. I me, we indicator typically through seems are.And metric that biotech think the where look so X-quarter leading And do -- a is and is to us X-, funding so for -- actual we an have

starting and about positive. it's positive ramps. all question feel year the be just those not are or a So, we and of the how good that there'll to fast pushes then are orders get signs, into those additional -- pretty seeing of and also conversations It's next timing really out as whether

Matthew Larew

sorry, wrap then And my I'm trying just Okay. head gross around the more. one just to margin.

more depreciation accounting just facility there out dollars to into be new any we're the and relative the sophistication So certainly respect as ones. can there's anything to been is any forward? facility the legacy schedules about the I last built facility, the different that Matt, to or having depreciation appreciate building new out with about to aware thinking the going need of compared of we'd facility, to of

Matthew Lowell

that quality a we've these speaking, versus I equipment this in other question. other of would with it's our and Yes, have of on good long associated facilities. pretty that generally improvements assets average lives made the our maybe say we compared to the legacy facilities because

some spread in on be off. course the others, while will others. for a off longer on so So the some have those a rolled the or depreciating average rolling been of that's out bit of than is depreciation And cases,

production with of of right we any that make also but absorb facility, we I that those ramp gross margins. our observations, high-level just say sellable would been now, and it.But products of I inventory this if able to well, to I be And we'll have up making be into depreciation as been had it's would into hitting So think as inventory absorbing directly that margins. more out some kind

and get to in right back come to it that's where where worst the mentioned So higher going earlier, terms back it's coming those absorption I really that as be. But we're going be of impact. of to getting growth now we the they see used revenue

Operator

line next of Anna [ with Snopkowski Our from ] question the comes KeyBanc.

Unknown Analyst

so, in is that that? on increase customer. are you with be or Do it if And Anna My moving for in still Paul customers what a what revenue for would is towards per reason Knight. commercialization, you X.X revenue seeing This Is about see the question XXXX? increase? just

Matthew Lowell

question. sure just we clarify Maybe the make to

climb customer next are You're expecting revenue Is misunderstand? or asking I if year? did to -- that we average per see

Unknown Analyst

that is question. No. Yes, my

Matthew Lowell

Well, for smaller our we I more mean, I our to -- of -- this. are a with customer per we're on It reason. going would pipeline flat bit just little That's part our Clinical gone not necessarily more Maybe just customers their up us different younger a be the So bringing thing. right? the business, ramp whatever versus there's Lab down. up it's just Okay. as actually, Essentials Solutions, through say that go business, the Solutions Clinical that cycle. for or that bad clinical ramping in may stay means haven't revenue or

I was expect side.On revenue necessarily because the in Essentials customer particular in metric, It Clinical have customer mentioned shipped, year-on-year that side, been customer customer quarter, the a as had the terms per per that wouldn't So there on last in remarks. that the -- orders to the fact average In metrics. decrease I trends revenue we increase higher average in very see to per strong of which customer this not year, large was volumes. we And upwards. good due going did skewed not seeing have Lab we're Solutions average revenue we seeing X

revenue pretty ordering certainly be there. average normalized dependent patterns answer Lab on forward, depends technical It are been depending year. return which general, overall the and at rate a going of market will Essentials on and steady bit when that. health the little on revenue order of next But per the a in we or the more on that seeing customer a it's in side have, So expecting increases

Operator

Mark Our BTIG. Massaro comes from next question line with of the

Unknown Analyst

This on Vivian is [ Mark. for ]

you you percentage current you of funding far your characterize would customer on as have Can how Just narrowing us smaller on? visibility feel guide, customer percentage remind your base emerging biopharma? just the base And of you're assuming just as the what the that continues. you environment of the

Stephen Gunstream

Okay.

So that is the I question in -- visibility interested percent think what around have, side. you're biopharma and the our accurate? particularly what we of Is

Unknown Analyst

Yes.

Stephen Gunstream

Okay.

the me percentage pieces it, put is One let's directly. the confident. There's there. that's the we that that see say, So this just is, in biopharma we probably biotech, right? seen can it that about I of related could generally, We exact is make obviously don't say out of ballpark, of to emerging funding. And which significant that a of disclose biopharma. half typically have that decline half two

which is have rest we business, growing quite actually of piece other is nicely. the our that The

sit So as we term as pretty these we why onboard about this where confident that's we're customers. stabilizes, long

Unknown Analyst

you And maybe back? just dig how you're to OpEx little versus where more. what commercial bit of pull financing thinking investment you Perfect. then the into look or Can as on areas and the might you're Okay. to a just about cash after guys utilization prioritizing discuss

Matthew Lowell

one. Let me at take a stab that

a little in -- OpEx, feel as So that right now discussed made. terms we the with bit, we we're investments comfortable we've of

OpEx highlighted is to we've side in spending one built launches area, that alluded product we've branding, we team, You make the made which in cetera. made, Stephen the website, the been also other investments of commercial that we've that et product and and plan there. new on there and our to And the team and then some development have

critical companies as for in as invest target we to our market. continuing those building see with and relationships we're awareness So

So there $X have we're areas there the do needed priorities. or mentioned, annualized different million might this anywhere not over that back be have many where as savings, the on with to not so to over pulling was I execute the we course we were opportunity there.We capabilities reduced in near-term year, in of

in and areas. in engineering the cases and So areas that's sprinkled some also itself, where G&A, obviously, that's of manufacturing some and in organization, the we've other throughout --

to we've So and those decisions tough to make. are the had continue make that we

OpEx not that are confident there. reductions we expecting investments, decisions order those right forward dramatic to in preserve the going we're said, feel we making I As but in

Operator

concludes am no participation. you Thank in for call. your gentlemen, conference queue. questions showing today's Ladies this I further Thank the and you.

may now disconnect. You

Stephen Gunstream

Thank you.

Matthew Lowell

Thank you.

Alpha Teknova (TKNO) 9 Nov 232023 Q3 Earnings call transcript