Harvard Bioscience Inc
NASDAQ:HBIO
Harvard Bioscience Inc
Harvard Bioscience, Inc. develops, manufactures, and sells technologies, products and services that enable fundamental research, discovery, and pre-clinical testing for drug development. The company is headquartered in Holliston, Massachusetts and currently employs 475 full-time employees. The company went IPO on 2013-10-21. The firm provides products that support research in six different classes of laboratory use, including molecular, cellular, tissue, organ, organisms or preclinical, and clinical. The firm organizes its product line activities into two product families, Cellular and Molecular Technologies (CMT) and Preclinical. The company primarily sells its products under several brand names, including Harvard Apparatus, DSI, Ponemah, Buxco, Biochrom, BTX, and MCS. The firm's customers include pharmaceutical and biotechnology companies, as well as contract research organizations, academic labs, and government researchers.
Harvard Bioscience, Inc. develops, manufactures, and sells technologies, products and services that enable fundamental research, discovery, and pre-clinical testing for drug development. The company is headquartered in Holliston, Massachusetts and currently employs 475 full-time employees. The company went IPO on 2013-10-21. The firm provides products that support research in six different classes of laboratory use, including molecular, cellular, tissue, organ, organisms or preclinical, and clinical. The firm organizes its product line activities into two product families, Cellular and Molecular Technologies (CMT) and Preclinical. The company primarily sells its products under several brand names, including Harvard Apparatus, DSI, Ponemah, Buxco, Biochrom, BTX, and MCS. The firm's customers include pharmaceutical and biotechnology companies, as well as contract research organizations, academic labs, and government researchers.
Revenue: Q3 revenue came in at $20.6 million, at the high end of guidance, with a slight sequential increase despite typical seasonality.
Margins: Gross margin improved to 58.4%, exceeding guidance and up both year-over-year and quarter-over-quarter.
Profit & Cash: Adjusted EBITDA rose to $2 million, and the company generated positive operating cash flow again in Q3.
Backlog & Orders: Backlog is the highest in nearly two years, driven by broad-based order growth across products and regions.
Product Launches: The new Incub8 Multiwell System was launched with initial shipments and positive customer response.
Guidance: Q4 revenue is guided to $22.5–$24.5 million, with gross margin expected to improve to 58–60%.
Capital Structure: Debt refinancing or repayment is expected to be completed in Q4, with net debt reduced by over $6 million since year-end.
NIH Funding: Guidance incorporates potential delays from the US government shutdown impacting NIH-funded customer orders.
