Alpha Teknova, Inc.

Good day and thank you for standing by. Welcome to the Technova Second Quarter 2026 Financial Results. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask the question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. Henry, Senior Vice President of Marketing. Please go ahead.

Thank you, Operator. Welcome to Technova's second quarter 2026 earnings call. With me on today's call are Stephen Gunstream, Technova's President and Chief Executive Officer, and Matt Lowell, Technova's Chief Financial Officer, who will make prepared remarks and then take your questions. As a reminder, the forward-looking statements that we make during this call including those regarding business goals and expectations for the financial performance of the company are subject to risks and uncertainties that may cause actual events or results to differ. Additional information concerning these risk factors is included in the press release the company issued earlier today and they are more fully described in the company's various filings with the SEC. Today's comments reflect the company's current views which could change as a result of new information, future events, or other factors, and the company does not obligate or commit itself to update its forward-looking statements except as required by law. The company's management believes that, in addition to GAAP results, non-GAAP financial measures can provide meaningful insight when evaluating a company's financial performance and the effectiveness of its business strategies. We will therefore use non-GAAP financial measures of certain of our results during this call. Reconciliations of GAAP to non-GAAP financial measures are included in the press release that we issued this afternoon, which is posted to Technova's website and at www.sec.gov. Non-GAAP financial measures should always be considered only as a supplement to, and not as a substitute for, or as superior to, financial measures prepared in accordance with GAAP. The non-GAAP financial measures in this presentation may differ from similarly named non-GAAP financial measures used by other companies. Please also be advised that the company has posted a supplemental slide deck to accompany today's prepared remarks. It can be accessed on the investor relations section of Technova's website and on today's webcast. And now I will turn the call over to Stephen.

Thank you, Jen. Good afternoon and thank you everyone for joining us for our second quarter 2026 earnings call. We were very pleased with our performance in the second quarter. Revenue grew 18% compared to the second quarter 2025, exceeding $12 million for the quarter, the highest quarterly revenue in Technova's 30-year history. This growth contributed to our lowest free cash outflow since before our IPO in June 2021. Considering our performance this year to date and our confidence about the back half of the year, we have increased our revenue guidance, which at the midpoint raises expected revenue growth from 6% to 14% for the year. I will start by providing a little more color on the second quarter growth drivers. We are particularly encouraged because, once again, revenue growth was not driven by a single order or a single customer. Rather, it was broad-based with our largest direct customer representing less than 7% of total revenue in the quarter. In addition, we achieved growth in sales of our products across all of our major target markets, with the exception of cell and gene therapy-related accounts, which were down in part due to order timing. Excluding cell and gene therapy, biopharma generally, including biotech, large pharma, and CDMOs, grew significantly. led by sales of our custom products. We are also encouraged by our continued strength in supporting our customers in the liquid biopsy market, and we drove catalog sales through improved engagement with our distributors. All in all, it was a great quarter, and it puts us in a strong position as we enter the second half of 2026. As we look to 2027, we believe there are a number of potential tailwinds that will further support our growth. First, our products are used to manufacture more than 70 therapies or diagnostics currently in clinical trials, at least one of which we expect will be commercial by the end of next year. As a reminder, we believe that once a therapy reaches commercialization, the dollar value of a customer's purchases from us increases approximately tenfold compared to when the therapy is in Phase 3 clinical trials, and approximately 30-fold compared to Phase 1 clinical trials. Second, there has been an increase in total biotech funding over the past three quarters compared to the same period in the prior year. Given that we have historically seen an approximately four-quarter lag from funding changes to revenue recognition, we believe there may be a positive revenue impact from this additional funding at the end of this year or in early 2027. Leading indicators show that the investments we began to make in our commercial organization in January are producing results on or ahead of plan. The new lead generation resources and systems we've put in place, together with the additions to our field sales organization, are enabling us to reach high-profile accounts and create opportunities that would have been much harder to come by a year ago. We expect these opportunities to start translating to revenue by early 2027. Taken together, the progression through clinical trials of therapies supported by our products, the increasingly favorable biotech funding environment, and our recent commercial investments provide us with the confidence that we will continue to deliver sustainable above-market growth. I want to shift and talk about how we are leveraging AI to enable our customers to quickly and efficiently design and order custom products. Today, we efficiently launched BuildPet, our new AI-powered custom order configurator, which is an evolution of the buffer configurator we introduced back in 2024. Designed to build custom product quote requests, This interactive personal AI reagent assistant engages with customers so that they can create complex custom products in minutes, leveraging standard formulations, published literature, or specifications that they supply. Before BuildTech, designing a complex custom product required multiple rounds of back and forth between our manufacturing science and technology team and the customer, which could take weeks and be error-prone. With our new BuildTech Custom Configurator, a customer simply engages with the assistant and starts with as much, or as little, information as they have, and the assistant provides guidance on product type, formulation, container format, manufacturing grade, QC testing, and more. BuildTech, which is trained on 30 years of Technova's manufacturing experience and know-how, defines and finalizes the product specifications and allows the customer to submit a request for quotes. It also supports the ability to upload existing files, formulations or literature for reference and to design multiple custom products in one session. Our customers can now complete the entire process in a few business days rather than weeks. We soft launched the BuildTech service last quarter and we're already receiving quote requests from customers who have previously only ordered catalog products. and this is only the beginning. We will continue to build out new features such as the ability to customize existing catalog products, to save custom product requests to an online account, to get instant quotes and more. We're excited to see how this tool evolves over time. In summary, we had a great quarter. We feel good about where we are today and we're excited about what we think is yet to come. I will now hand the call over to Matt to talk through the financials.