Harvard Apparatus Regenerative Technology Inc. Financials
This page shows Harvard Apparatus Regenerative Technology Inc. (HRGN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Harvard Apparatus Regenerative Technology Inc. has an operating margin of -1796.7%, meaning the company retains $-1797 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -8728.2% the prior year.
Harvard Apparatus Regenerative Technology Inc.'s revenue surged 317.5% year-over-year to $430K, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Harvard Apparatus Regenerative Technology Inc. carries a low D/E ratio of 0.38, meaning only $0.38 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.17, Harvard Apparatus Regenerative Technology Inc. holds $3.17 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Harvard Apparatus Regenerative Technology Inc. generated -$4.9M in operating cash flow, capex of $0 consumed most of it, leaving -$4.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Harvard Apparatus Regenerative Technology Inc. passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Harvard Apparatus Regenerative Technology Inc. generates $0.63 in operating cash flow (-$4.9M OCF vs -$7.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Harvard Apparatus Regenerative Technology Inc. earns $-203.3 in operating income for every $1 of interest expense (-$7.7M vs $38K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Harvard Apparatus Regenerative Technology Inc. generated $430K in revenue in fiscal year 2024. This represents an increase of 317.5% from the prior year.
Harvard Apparatus Regenerative Technology Inc.'s EBITDA was -$7.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 13.9% from the prior year.
Harvard Apparatus Regenerative Technology Inc. generated -$4.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 30.2% from the prior year.
Harvard Apparatus Regenerative Technology Inc. reported -$7.7M in net income in fiscal year 2024. This represents an increase of 13.6% from the prior year.
Harvard Apparatus Regenerative Technology Inc. held $2.5M in cash against $0 in long-term debt as of fiscal year 2024.
Harvard Apparatus Regenerative Technology Inc. had 16M shares outstanding in fiscal year 2024. This represents an increase of 14.1% from the prior year.
Harvard Apparatus Regenerative Technology Inc.'s gross margin was 37.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 39.5 percentage points from the prior year.
Harvard Apparatus Regenerative Technology Inc.'s operating margin was -1796.7% in fiscal year 2024, reflecting core business profitability. This is up 6931.4 percentage points from the prior year.
Harvard Apparatus Regenerative Technology Inc.'s net profit margin was -1798.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 6886.3 percentage points from the prior year.
Harvard Apparatus Regenerative Technology Inc. invested $2.3M in research and development in fiscal year 2024. This represents a decrease of 24.6% from the prior year.
Harvard Apparatus Regenerative Technology Inc. invested $0 in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
HRGN Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $123K-61.2% | $317K+604.4% | $45K | N/A | $40K | N/A | N/A | N/A |
| Cost of Revenue | $112K-62.9% | $302K+815.2% | $33K | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $11K-26.7% | $15K+25.0% | $12K | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $655K-6.0% | $697K+16.0% | $601K | N/A | $339K-78.4% | $1.6M+207.7% | $509K | N/A |
| SG&A Expenses | $1.0M-9.2% | $1.2M+7.5% | $1.1M | N/A | $1.2M+7.7% | $1.1M-54.4% | $2.4M | N/A |
| Operating Income | -$1.7M+6.5% | -$1.8M-9.8% | -$1.7M | N/A | -$1.6M+38.7% | -$2.7M+8.2% | -$2.9M | N/A |
| Interest Expense | $2K-33.3% | $3K+50.0% | $2K | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$1.7M+6.7% | -$1.8M-9.9% | -$1.7M | N/A | -$1.6M+38.2% | -$2.6M+9.6% | -$2.9M | N/A |
| EPS (Diluted) | $-0.12+33.3% | $-0.18-20.0% | $-0.15 | N/A | $-0.12+36.8% | $-0.19+20.8% | $-0.24 | N/A |
HRGN Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.5M+19.1% | $2.1M-37.4% | $3.4M+30.6% | $2.6M-30.9% | $3.8M-34.6% | $5.8M+33.3% | $4.3M+80.7% | $2.4M |
| Current Assets | $1.6M+45.7% | $1.1M-51.5% | $2.3M+194.0% | $783K-58.6% | $1.9M-62.2% | $5.0M+37.9% | $3.6M+127.5% | $1.6M |
| Cash & Equivalents | $1.3M+67.8% | $786K-54.5% | $1.7M+300.0% | $432K+60.6% | $269K-87.4% | $2.1M-34.5% | $3.3M+163.4% | $1.2M |
| Inventory | $22K-18.5% | $27K-43.8% | $48K-4.0% | $50K-10.7% | $56K | N/A | N/A | N/A |
| Accounts Receivable | $3K-40.0% | $5K+25.0% | $4K0.0% | $4K+33.3% | $3K | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $992K-27.9% | $1.4M+0.7% | $1.4M+41.2% | $968K-9.2% | $1.1M-46.3% | $2.0M-63.2% | $5.4M-3.5% | $5.6M |
| Current Liabilities | $876K-28.8% | $1.2M+3.0% | $1.2M+23.5% | $968K-8.2% | $1.1M-46.4% | $2.0M+48.3% | $1.3M-2.7% | $1.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.6M+104.2% | $761K-62.8% | $2.0M+24.4% | $1.6M-39.4% | $2.7M-28.5% | $3.8M+457.4% | -$1.1M+66.7% | -$3.2M |
| Retained Earnings | -$104.9M-1.6% | -$103.2M-1.8% | -$101.3M-10.2% | -$92.0M-2.0% | -$90.1M-1.8% | -$88.5M-3.0% | -$85.9M-3.5% | -$83.0M |
HRGN Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.5M-55.7% | -$941K-24.1% | -$758K+37.8% | -$1.2M+61.5% | -$3.2M-104.5% | -$1.5M-52.6% | -$1.0M+41.5% | -$1.7M |
| Capital Expenditures | N/A | N/A | N/A | $0 | $0-100.0% | $2K-77.8% | $9K+400.0% | -$3K |
| Free Cash Flow | N/A | N/A | N/A | -$1.2M+61.5% | -$3.2M-104.3% | -$1.5M-51.5% | -$1.0M+41.1% | -$1.7M |
| Investing Cash Flow | N/A | N/A | N/A | $1.2M-4.6% | $1.3M+151.1% | -$2.5M-27955.6% | -$9K-400.0% | $3K |
| Financing Cash Flow | $2.0M | $0 | $0-100.0% | $149K | $0-100.0% | $2.9M-3.5% | $3.0M | $0 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HRGN Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.9%+4.2pp | 4.7%-21.9pp | 26.7% | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -1393.5%-815.3pp | -578.2%+3132.9pp | -3711.1% | N/A | -4060.0% | N/A | N/A | N/A |
| Net Margin | -1382.1%-807.0pp | -575.1%+3111.6pp | -3686.7% | N/A | -4037.5% | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -66.8%+18.5pp | -85.3%-36.7pp | -48.6% | N/A | -42.7%+2.5pp | -45.2%+21.4pp | -66.6% | N/A |
| Current Ratio | 1.86+0.9 | 0.91-1.0 | 1.93+1.1 | 0.81-1.0 | 1.79-0.8 | 2.54-0.2 | 2.73+1.6 | 1.17 |
| Debt-to-Equity | 0.64-1.2 | 1.81+1.1 | 0.67+0.1 | 0.59+0.2 | 0.39-0.1 | 0.52+5.6 | -5.08-3.3 | -1.75 |
| FCF Margin | N/A | N/A | N/A | N/A | -7905.0% | N/A | N/A | N/A |
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Frequently Asked Questions
What is Harvard Apparatus Regenerative Technology Inc.'s annual revenue?
Harvard Apparatus Regenerative Technology Inc. (HRGN) reported $430K in total revenue for fiscal year 2024. This represents a 317.5% 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 Harvard Apparatus Regenerative Technology Inc.'s revenue growing?
Harvard Apparatus Regenerative Technology Inc. (HRGN) revenue grew by 317.5% year-over-year, from $103K to $430K in fiscal year 2024.
Is Harvard Apparatus Regenerative Technology Inc. profitable?
No, Harvard Apparatus Regenerative Technology Inc. (HRGN) reported a net income of -$7.7M in fiscal year 2024, with a net profit margin of -1798.1%.
What is Harvard Apparatus Regenerative Technology Inc.'s EBITDA?
Harvard Apparatus Regenerative Technology Inc. (HRGN) had EBITDA of -$7.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Harvard Apparatus Regenerative Technology Inc.'s gross margin?
Harvard Apparatus Regenerative Technology Inc. (HRGN) had a gross margin of 37.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Harvard Apparatus Regenerative Technology Inc.'s operating margin?
Harvard Apparatus Regenerative Technology Inc. (HRGN) had an operating margin of -1796.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Harvard Apparatus Regenerative Technology Inc.'s net profit margin?
Harvard Apparatus Regenerative Technology Inc. (HRGN) had a net profit margin of -1798.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Harvard Apparatus Regenerative Technology Inc.'s free cash flow?
Harvard Apparatus Regenerative Technology Inc. (HRGN) generated -$4.9M in free cash flow during fiscal year 2024. This represents a 30.2% 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 Harvard Apparatus Regenerative Technology Inc.'s operating cash flow?
Harvard Apparatus Regenerative Technology Inc. (HRGN) generated -$4.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Harvard Apparatus Regenerative Technology Inc.'s total assets?
Harvard Apparatus Regenerative Technology Inc. (HRGN) had $4.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Harvard Apparatus Regenerative Technology Inc.'s capital expenditures?
Harvard Apparatus Regenerative Technology Inc. (HRGN) invested $0 in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Harvard Apparatus Regenerative Technology Inc. spend on research and development?
Harvard Apparatus Regenerative Technology Inc. (HRGN) invested $2.3M in research and development during fiscal year 2024.
How many shares does Harvard Apparatus Regenerative Technology Inc. have outstanding?
Harvard Apparatus Regenerative Technology Inc. (HRGN) had 16M shares outstanding as of fiscal year 2024.
What is Harvard Apparatus Regenerative Technology Inc.'s current ratio?
Harvard Apparatus Regenerative Technology Inc. (HRGN) had a current ratio of 3.17 as of fiscal year 2024, which is generally considered healthy.
What is Harvard Apparatus Regenerative Technology Inc.'s debt-to-equity ratio?
Harvard Apparatus Regenerative Technology Inc. (HRGN) had a debt-to-equity ratio of 0.38 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Harvard Apparatus Regenerative Technology Inc.'s return on assets (ROA)?
Harvard Apparatus Regenerative Technology Inc. (HRGN) had a return on assets of -174.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Harvard Apparatus Regenerative Technology Inc.'s cash runway?
Based on fiscal year 2024 data, Harvard Apparatus Regenerative Technology Inc. (HRGN) had $2.5M in cash against an annual operating cash burn of $4.9M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Harvard Apparatus Regenerative Technology Inc.'s Piotroski F-Score?
Harvard Apparatus Regenerative Technology Inc. (HRGN) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Harvard Apparatus Regenerative Technology Inc.'s earnings high quality?
Harvard Apparatus Regenerative Technology Inc. (HRGN) has an earnings quality ratio of 0.63x, considered low quality (accrual-driven). 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 Harvard Apparatus Regenerative Technology Inc. cover its interest payments?
Harvard Apparatus Regenerative Technology Inc. (HRGN) has an interest coverage ratio of -203.3x, 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.
How financially healthy is Harvard Apparatus Regenerative Technology Inc.?
Harvard Apparatus Regenerative Technology Inc. (HRGN) scores 59 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.