Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Tax Expense (Benefit)

Teknova’s benefit from income taxes consist of the following (in thousands):

	For the Year Ended December 31,
	2023			2022
Current:
Federal	$	—		$	—
State		6			7
Total current		6			7
Deferred:
Federal		(25	)		(2,055	)
State		(279	)		125
Total deferred		(304	)		(1,930	)
Income tax benefit	$	(298	)	$	(1,923	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory tax rate to the Company’s effective tax rate is as follows:

	For the Year Ended December 31,
	2023			2022
Statutory federal income tax rate %		21.0	%		21.0	%
State income tax rate		5.9			5.6
Stock compensation		(0.5	)		(0.5	)
Research and development credit		0.7			0.2
Change in valuation allowance		(26.1	)		(13.6	)
Goodwill impairment		—			(9.0	)
Other		(0.2	)		0.2
Effective tax rate %		0.8	%		3.9	%

Schedule of Net Deferred Tax Liability and Assets

The Company’s component of net deferred tax liability and assets consist of the following (in thousands):

	As of December 31,
	2023			2022
Deferred tax asset
Net operating loss carryforwards	$	14,184		$	8,005
Accrued compensation		803			552
Stock compensation		1,823			1,008
Tax credit carryforwards		880			275
Accruals and other		131			321
Operating lease liabilities		4,599			5,435
Capitalized research and development expenses		2,304			1,450
Inventory capitalization		428			—
Total deferred tax asset		25,152			17,046
Deferred tax liability
Property, plant, and equipment		(1,231	)		(1,131	)
Intangibles		(3,600	)		(4,693	)
Operating right-of-use lease assets		(4,402	)		(5,275	)
Total deferred tax liability		(9,233	)		(11,099	)
Valuation allowance		(16,838	)		(7,170	)
Net deferred tax liability	$	(919	)	$	(1,223	)