Harbor Diversified Inc Financials
This page shows Harbor Diversified Inc (HRBR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 25 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Harbor Diversified's recent pattern is a cash-conversion rebound inside a smaller, lightly leveraged operating footprint rather than a broad profit recovery.
Year over year, with revenue essentially flat, operating cash flow improved by$25.3M and EBITDA moved back above zero. Because reported net loss stayed near-$17.2M , the improvement looks driven more by better cash conversion and cost normalization than by a fully repaired earnings base.
Creditors are not driving this story: total liabilities were only about 0.3x equity in FY2024, and current assets covered current liabilities 3.8x. That matters because recent operating losses are being absorbed mainly by the equity cushion rather than by new borrowing, even though cash on hand still fell to
Free cash flow benefited from a very low reinvestment bill: capital spending was only
Financial Health Signals
We are recalculating Harbor Diversified Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Harbor Diversified Inc scores 1.63, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($91.2M) relative to total liabilities ($45.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Harbor Diversified Inc passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Harbor Diversified Inc generates $-0.77 in operating cash flow ($13.3M OCF vs -$17.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Harbor Diversified Inc earns $-2689.2 in operating income for every $1 of interest expense (-$24.2M vs $9K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Harbor Diversified Inc generated $202.4M in revenue in fiscal year 2024. This represents an increase of 1.6% from the prior year.
Harbor Diversified Inc's EBITDA was $1.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 116.3% from the prior year.
Harbor Diversified Inc reported -$17.2M in net income in fiscal year 2024. This represents a decrease of 7.4% from the prior year.
Harbor Diversified Inc earned $-0.36 per diluted share (EPS) in fiscal year 2024. This represents an increase of 7.7% from the prior year.
Cash & Balance Sheet
Harbor Diversified Inc generated $10.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 162.9% from the prior year.
Harbor Diversified Inc held $15.0M in cash against $0 in long-term debt as of fiscal year 2024.
Harbor Diversified Inc had 58M shares outstanding in fiscal year 2024. This represents an increase of 35.6% from the prior year.
Margins & Returns
Harbor Diversified Inc's operating margin was -12.0% in fiscal year 2024, reflecting core business profitability. This is up 6.5 percentage points from the prior year.
Harbor Diversified Inc's net profit margin was -8.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.5 percentage points from the prior year.
Harbor Diversified Inc's ROE was -10.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.8 percentage points from the prior year.
Capital Allocation
Harbor Diversified Inc spent $2.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 54.8% from the prior year.
Harbor Diversified Inc invested $2.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 35.4% from the prior year.
HRBR Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $905K-70.1% | $3.0M-95.0% | $60.2M+3.8% | $58.0M+8.3% | $53.6M+13.6% | $47.1M+8.0% | $43.7M-8.3% | $47.6M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | -$7.1M+60.7% | -$18.1M-225.7% | $14.4M+702.8% | $1.8M+132.3% | -$5.5M+41.8% | -$9.5M+12.9% | -$10.9M-31.8% | -$8.3M |
| Interest Expense | $3K+50.0% | $2K-33.3% | $3K0.0% | $3K0.0% | $3K0.0% | $3K | $0-100.0% | $3K |
| Income Tax | -$128K+61.3% | -$331K-221.2% | $273K+137.5% | -$728K-2306.1% | $33K+113.5% | -$245K-4.7% | -$234K-147.7% | $491K |
| Net Income | -$5.1M+67.5% | -$15.8M-196.1% | $16.5M+564.6% | $2.5M+210.9% | -$2.2M+71.5% | -$7.9M+17.9% | -$9.6M-288.8% | $5.1M |
| EPS (Diluted) | $-0.09+66.7% | $-0.27-196.4% | $0.28 | N/A | $-0.04+80.0% | $-0.20+13.0% | $-0.23 | N/A |
HRBR Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $179.5M-3.9% | $186.7M-12.8% | $214.0M+4.7% | $204.4M+0.6% | $203.2M-3.0% | $209.5M-6.9% | $225.1M-4.8% | $236.3M |
| Current Assets | $122.6M+2.5% | $119.7M-15.5% | $141.7M+10.8% | $127.9M+8.3% | $118.1M+2.1% | $115.6M-6.8% | $124.1M-2.8% | $127.7M |
| Cash & Equivalents | $17.2M+46.7% | $11.7M-56.6% | $27.1M+81.0% | $15.0M+122.3% | $6.7M-16.7% | $8.1M-51.9% | $16.8M-19.2% | $20.8M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | $1.4M+14.0% | $1.2M-8.2% | $1.3M | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $25.2M-7.5% | $27.3M-29.6% | $38.8M-15.1% | $45.6M-2.3% | $46.7M-7.9% | $50.7M+9.7% | $46.3M-0.4% | $46.5M |
| Current Liabilities | $16.3M-10.8% | $18.3M-31.7% | $26.8M-19.9% | $33.5M+0.2% | $33.4M-0.6% | $33.6M+13.4% | $29.6M+2.2% | $29.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| Total Equity | $154.3M-3.2% | $159.4M-9.0% | $175.2M+10.3% | $158.8M+1.5% | $156.5M-1.5% | $158.8M-4.1% | $165.6M-6.2% | $176.6M |
| Retained Earnings | -$110.4M-4.9% | -$105.3M-17.7% | -$89.4M+15.6% | -$105.9M+2.3% | -$108.4M-2.1% | -$106.1M-8.0% | -$98.3M-10.8% | -$88.7M |
HRBR Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.3M+57.6% | -$21.8M-273.4% | $12.6M+33.3% | $9.4M+30371.0% | $31K-99.3% | $4.3M+929.5% | -$522K-108.1% | $6.5M |
| Capital Expenditures | $150K+194.1% | $51K+131.8% | $22K-40.5% | $37K-92.2% | $476K-42.2% | $824K-47.3% | $1.6M+6.3% | $1.5M |
| Free Cash Flow | -$9.4M+57.1% | -$21.9M-274.2% | $12.6M+33.6% | $9.4M+2214.4% | -$445K-112.7% | $3.5M+268.2% | -$2.1M-141.7% | $5.0M |
| Investing Cash Flow | $14.7M+126.1% | $6.5M+1381.1% | -$509K+56.6% | -$1.2M+14.7% | -$1.4M-72.3% | -$799K+59.8% | -$2.0M-104.3% | $46.0M |
| Financing Cash Flow | $0 | $0+100.0% | -$46K+68.7% | -$147K-69.0% | -$87K+99.3% | -$12.2M-734.4% | -$1.5M+96.9% | -$47.5M |
| Dividends Paid | $0 | $0 | $0-100.0% | $107K | $0-100.0% | $519K+11.4% | $466K+12.8% | $413K |
| Share Buybacks | $0 | $0-100.0% | $46K+15.0% | $40K-54.0% | $87K-90.7% | $937K-5.5% | $992K+50.1% | $661K |
HRBR Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -784.2%-187.4pp | -596.8%-620.7pp | 23.8%+20.8pp | 3.1%+13.4pp | -10.3%+9.8pp | -20.2%+4.9pp | -25.1%-7.6pp | -17.4% |
| Net Margin | -568.3%-44.9pp | -523.4%-550.7pp | 27.4%+23.1pp | 4.3%+8.4pp | -4.2%+12.5pp | -16.7%+5.3pp | -21.9%-32.6pp | 10.6% |
| Return on Equity | -3.3%+6.6pp | -9.9%-19.3pp | 9.4%+7.8pp | 1.6%+3.0pp | -1.4%+3.5pp | -4.9%+0.8pp | -5.8%-8.6pp | 2.9% |
| Return on Assets | -2.9%+5.6pp | -8.5%-16.2pp | 7.7%+6.5pp | 1.2%+2.3pp | -1.1%+2.6pp | -3.8%+0.5pp | -4.3%-6.4pp | 2.1% |
| Current Ratio | 7.51+1.0 | 6.54+1.3 | 5.29+1.5 | 3.82+0.3 | 3.53+0.1 | 3.44-0.7 | 4.19-0.2 | 4.40 |
| Debt-to-Equity | 0.160.0 | 0.17-0.0 | 0.22-0.1 | 0.29-0.0 | 0.30-0.0 | 0.32+0.0 | 0.28+0.3 | 0.00 |
| FCF Margin | -1038.9%-315.5pp | -723.4%-744.3pp | 20.9%+4.6pp | 16.2%+17.1pp | -0.8%-8.3pp | 7.4%+12.2pp | -4.8%-15.3pp | 10.5% |
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Frequently Asked Questions
What is Harbor Diversified Inc's annual revenue?
Harbor Diversified Inc (HRBR) reported $202.4M in total revenue for fiscal year 2024. This represents a 1.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Harbor Diversified Inc's revenue growing?
Harbor Diversified Inc (HRBR) revenue grew by 1.6% year-over-year, from $199.2M to $202.4M in fiscal year 2024.
Is Harbor Diversified Inc profitable?
No, Harbor Diversified Inc (HRBR) reported a net income of -$17.2M in fiscal year 2024, with a net profit margin of -8.5%.
What is Harbor Diversified Inc's EBITDA?
Harbor Diversified Inc (HRBR) had EBITDA of $1.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Harbor Diversified Inc's operating margin?
Harbor Diversified Inc (HRBR) had an operating margin of -12.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Harbor Diversified Inc's net profit margin?
Harbor Diversified Inc (HRBR) had a net profit margin of -8.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Harbor Diversified Inc's return on equity (ROE)?
Harbor Diversified Inc (HRBR) has a return on equity of -10.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Harbor Diversified Inc's free cash flow?
Harbor Diversified Inc (HRBR) generated $10.4M in free cash flow during fiscal year 2024. This represents a 162.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Harbor Diversified Inc's operating cash flow?
Harbor Diversified Inc (HRBR) generated $13.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Harbor Diversified Inc's total assets?
Harbor Diversified Inc (HRBR) had $204.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Harbor Diversified Inc's capital expenditures?
Harbor Diversified Inc (HRBR) invested $2.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Harbor Diversified Inc's current ratio?
Harbor Diversified Inc (HRBR) had a current ratio of 3.82 as of fiscal year 2024, which is generally considered healthy.
What is Harbor Diversified Inc's debt-to-equity ratio?
Harbor Diversified Inc (HRBR) had a debt-to-equity ratio of 0.29 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Harbor Diversified Inc's return on assets (ROA)?
Harbor Diversified Inc (HRBR) had a return on assets of -8.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Harbor Diversified Inc's Altman Z-Score?
Harbor Diversified Inc (HRBR) has an Altman Z-Score of 1.63, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Harbor Diversified Inc's Piotroski F-Score?
Harbor Diversified Inc (HRBR) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Harbor Diversified Inc's earnings high quality?
Harbor Diversified Inc (HRBR) has an earnings quality ratio of -0.77x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Harbor Diversified Inc cover its interest payments?
Harbor Diversified Inc (HRBR) has an interest coverage ratio of -2689.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.