Harvard Bioscience Announces Third Quarter 2026 Financial Results
Higher sales accompanied lower quarterly gross margins, a wider net loss and operating cash outflows.
Sentiment and the balance of points
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Rhea-AI Summary
Harvard Bioscience (HBIO) reported third-quarter 2026 revenue of $22.2 million, up year over year, while its net loss widened. Revenue increased 8% from $20.6 million. Gross margin fell to 55.4% from 58.4%, and net loss widened to $2.6 million from $1.2 million. Adjusted EBITDA, an adjusted earnings measure, declined to $1.8 million from $2.0 million.
Nine-month revenue rose to $65.7 million from $62.8 million. Net loss narrowed to $9.0 million from $53.9 million, primarily reflecting the prior year's goodwill impairment. Operating cash use was $0.6 million versus $6.8 million generated a year earlier. The company reaffirmed full-year revenue growth guidance of 3%-5% and adjusted gross margin of 57%-59%, while updating expected adjusted EBITDA growth to between (1%) and 4%. Fourth-quarter guidance calls for revenue of $23.7 million-$25.5 million and adjusted EBITDA of $3.8 million-$4.2 million.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointThird-quarter revenue grew 8% year over year to $22.2 million from $20.6 million.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter revenue is expected at $23.7 million-$25.5 million, with year-over-year growth at the midpoint.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter adjusted EBITDA is expected at $3.8 million-$4.2 million, with year-over-year improvement at the midpoint.
- Minor pointRevenue to contract research organizations and customers in China delivered double-digit growth in the third quarter.
- Minor pointThird-quarter gross profit rose to $12.3 million from $12.0 million a year earlier.
7 minor points
- Minor pointNine-month revenue increased to $65.7 million from $62.8 million a year earlier.
- Minor pointNine-month gross profit increased to $37.2 million from $35.7 million a year earlier.
- Minor pointNine-month net loss narrowed to $9.0 million from $53.9 million, primarily reflecting prior-year goodwill impairment.
- Minor pointNine-month diluted loss per share narrowed to $1.99 from $12.15 a year earlier.
- Minor point. Forward-looking: it has not happened yet and may not happen.Full-year guidance reaffirms expected revenue growth of 3%-5% and adjusted gross margin of 57%-59%.
- Minor point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter adjusted gross margin is expected at 59%-61%, reflecting sequential expansion at the midpoint.
- Minor point. Forward-looking: it has not happened yet and may not happen.Project Viking remains on track for completion by the end of the first quarter in 2027.
Negative
- Moderate pointThird-quarter net loss widened to $2.6 million from $1.2 million a year earlier.
- Moderate pointThird-quarter gross margin declined to 55.4% from 58.4% a year earlier.
- Moderate pointNine-month operating cash flow turned to $0.6 million used versus $6.8 million generated a year earlier.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Full-year adjusted EBITDA growth target is now (1%) to 4%, reflecting higher contributions from lower-margin products and channels.
- Moderate pointCash declined to $4.856 million at September 30, 2026 from $8.614 million at December 31, 2025.
18 minor points
- Minor pointThird-quarter diluted loss per share widened to $0.58 from $0.28 a year earlier.
- Minor pointThird-quarter adjusted EBITDA declined to $1.8 million from $2.0 million a year earlier.
- Minor pointThird-quarter operating cash flow turned to $0.2 million used versus $1.0 million generated a year earlier.
- Minor pointLong-term debt, net, rose to $37.153 million at September 30, 2026 from $35.870 million at year-end 2025.
- Minor pointStockholders' equity fell to $5.105 million at September 30, 2026 from $13.734 million at year-end 2025.
- Minor pointThird-quarter operating results shifted to a $1.150 million loss from $197,000 income a year earlier.
- Minor pointThird-quarter sales and marketing expenses rose to $5.420 million from $4.613 million a year earlier.
- Minor pointThird-quarter general and administrative expenses rose to $4.756 million from $4.176 million a year earlier.
- Minor pointThird-quarter research and development expenses rose to $2.258 million from $2.132 million a year earlier.
- Minor pointThird-quarter other operating expenses increased to $658,000 from $48,000 a year earlier.
- Minor pointThird-quarter interest expense increased to $1.783 million from $1.323 million a year earlier.
- Minor pointNine-month gross margin declined to 56.6% from 56.9% a year earlier.
- Minor pointNine-month adjusted EBITDA declined to $4.2 million from $4.3 million a year earlier.
- Minor pointNine-month sales and marketing expenses rose to $16.155 million from $14.123 million a year earlier.
- Minor pointNine-month general and administrative expenses rose to $14.075 million from $13.623 million a year earlier.
- Minor pointNine-month research and development expenses rose to $7.037 million from $6.642 million a year earlier.
- Minor pointNine-month other operating expenses increased to $1.211 million from $512,000 a year earlier.
- Minor pointNine-month interest expense increased to $5.304 million from $3.257 million a year earlier.
News Explained
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Details
Market move: HBIO +3.25% vs previous close. 3Q26 earnings report
On Nov 10, the day this news came out, the latest delayed price for HBIO is 3.25% above the previous close. Argus tracked a trough of -3.4% from its starting point during tracking. Our momentum scanner has recorded 6 alerts for this stock so far that day. The latest delayed price is $9.38. Relative volume is very high at 3.6x the stock’s average daily volume.
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Key Figures
- Q3 revenue
- $22.2 million
- Third quarter 2026; 8% year-over-year growth
- Q3 gross margin
- 55.4%
- Third quarter 2026, compared with 58.4% in Q3 2025
- Q3 net loss
- $(2.6) million
- Third quarter 2026, compared with $(1.2) million in Q3 2025
- Q4 revenue guidance
- $23.7 million–$25.5 million
- Fourth quarter 2026
- Q4 adjusted gross margin guidance
- 59%–61%
- Fourth quarter 2026
- Q4 adjusted EBITDA guidance
- $3.8 million–$4.2 million
- Fourth quarter 2026
- FY 2026 revenue growth guidance
- 3%–5%
- Full-year 2026; reaffirmed
- FY 2026 adjusted EBITDA growth target
- (1%) to 4% growth
- Full-year 2026; updated target
Previous Earnings Reports
-
Revenue rose 11% and full-year revenue guidance was raised, while quarterly net loss widened.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
non-gaap financial
adjusted ebitda financial
goodwill impairment financial
constant currency basis financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Third Quarter 2026 Revenue Growth of
8% Year Over Year to$22.2 Million - Reaffirms Full Year 2026 Revenue Guidance of
3% -5% Year Over Year Growth
HOLLISTON, Mass., Nov. 10, 2026 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) (the “Company” or “Harvard Bioscience”) today announced financial results for the third quarter ended September 30, 2026.
“We delivered our second consecutive quarter of strong year over year growth with an
Third Quarter 2026 Results
For the third quarter of 2026, the Company reported revenues of
Adjusted gross profit and adjusted gross margin for the third quarter of 2026 were
Net loss for the third quarter of 2026 was
Nine Months Ended September 30, 2026 Results
For the nine months ended September 30, 2026, the Company reported revenues of
Adjusted gross profit and adjusted gross margin for the nine months ended September 30, 2026, were
Net loss for the nine months ended September 30, 2026, was
This press release includes certain financial information presented on an adjusted, or non-GAAP, basis. For additional information on the non-GAAP financial measures included in this press release, see “Use of Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Measures” below.
Fourth Quarter 2026 Guidance
The Company’s fourth quarter outlook at the midpoint of the guidance ranges reflects expected year-over-year revenue growth driven by ongoing demand across Cellular & Molecular Technology (CMT) and NPI platforms, sequential gross margin expansion, and improving year-over-year profitability on an adjusted EBITDA basis. The Company expects:
- Revenue between
$23.7 million and$25.5 million - Adjusted gross margin between
59% and61% - Adjusted EBITDA between
$3.8 million and$4.2 million
Full Year 2026 Guidance
The Company is reaffirming its full-year 2026 revenue and gross margin guidance while updating its full-year adjusted EBITDA target to account for higher-than-expected sales of certain lower-margin CMT products and higher revenue contribution from distribution channels and China. The Company now expects:
- Revenue growth between
3% and5% - Adjusted gross margin between
57% and59% - Adjusted EBITDA between (
1% ) and4% growth
Webcast and Conference Call Details
In conjunction with this announcement, Harvard Bioscience will be hosting a conference call and webcast today at 8:00 a.m. Eastern Time. A presentation that will be referenced during the webcast will be posted to the Company’s Investor Relations website shortly before the webcast begins.
Analysts who would like to join the call and ask a question must register here. Once registered, you will receive the dial-in numbers and a unique PIN number.
Participants who would like to join the audio-only webcast should go to our events and presentations on the investor website here.
Use of Non-GAAP Financial Information
In this press release we have included non-GAAP financial information, including one or more of adjusted operating income (loss), adjusted operating margin, adjusted gross margin, adjusted net income (loss), adjusted EBITDA, adjusted EBITDA margin, diluted adjusted earnings (loss) per share, net debt, adjusted gross profit, and non-GAAP revenue on a constant currency basis. We believe that this non-GAAP financial information provides investors with an enhanced understanding of the underlying operations of our business. For the periods presented, these non-GAAP financial measures have excluded certain expenses and income resulting from items that we do not believe are reflective of the underlying operations of the business. Items excluded include stock-based compensation, amortization of intangibles related to acquisitions, Non-GAAP restructuring related charges, other operating expenses, goodwill impairment, interest and other expense, net, income taxes, and the tax impact of reconciling items. Management believes that this non-GAAP financial information is important in comparing current results with prior period results and is useful to investors and financial analysts in assessing the Company’s operating performance.
Historical non-GAAP financial information included herein is accompanied by a reconciliation to the nearest corresponding GAAP measure, which is included below. In addition, the forward-looking Adjusted gross margin and Adjusted EBITDA guidance for the fourth quarter of 2026 and full-year 2026 excludes potential charges or gains that may be recorded during the fiscal year, including among other things, restructuring and reorganization expenses, and non-GAAP restructuring related expenses. The Company has not attempted to provide reconciliations of such forward-looking non-GAAP earnings guidance to the comparable GAAP measure, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K, because the impact and timing of these potential charges or gains is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts. In addition, the Company believes such reconciliations would imply a degree of precision and certainty that could be misleading to investors. Such items could have a substantial impact on GAAP measures of the Company’s financial performance.
The non-GAAP financial information provided in this press release should be considered in addition to, not as a substitute for, the financial information provided and presented in accordance with GAAP and may be different from other companies’ non-GAAP financial information.
About Harvard Bioscience
Harvard Bioscience, Inc. is a leading developer, manufacturer and seller of technologies, products and services that enable fundamental advances in life science applications, including research, drug and therapy discovery, bio-production and preclinical testing for pharmaceutical and therapy development. Our customers range from renowned academic institutions and government laboratories to the world’s leading pharmaceutical, biotechnology and contract research organizations. With operations in the United States, Europe, and China, we sell through a combination of direct and distribution channels to customers around the world.
For more information, please visit our website at www.harvardbioscience.com.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend,” “believe” and similar expressions or statements that do not relate to historical matters. Forward-looking statements include, but are not limited to, information concerning expected future financial and operational performance including revenues, adjusted gross margin, adjusted EBITDA, gross margin, cash and debt position, balance sheet, growth, adoption and the introduction of new products, the strength of the Company’s market position, business model and anticipated macroeconomic conditions. Forward-looking statements do not guarantee future performance and involve known and unknown uncertainties, risks, assumptions, and contingencies, many of which are outside the Company’s control. Risks and other factors that could cause the Company’s actual results to differ materially from those described in its forward-looking statements include those described in the “Risk Factors” section of the Company’s most recently filed Annual Report on Form 10-K, as well as in the Company’s other filings with the Securities and Exchange Commission. Forward-looking statements are based on the Company’s expectations and assumptions as of the date of this document. Except as required by law, the Company assumes no obligation to update forward-looking statements to reflect any change in expectations, even as new information becomes available.
Investor Inquiries:
Mark Frost
Chief Financial Officer
(508) 893-3120
investors@harvardbioscience.com
| HARVARD BIOSCIENCE, INC. | |||||||||||||||
| Condensed Consolidated Statements Of Operations | |||||||||||||||
| (Unaudited, in thousands, except per share data) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenues | $ | 22,196 | $ | 20,591 | $ | 65,678 | $ | 62,815 | |||||||
| Cost of revenues | 9,889 | 8,570 | 28,497 | 27,077 | |||||||||||
| Gross profit | 12,307 | 12,021 | 37,181 | 35,738 | |||||||||||
| Sales and marketing expenses | 5,420 | 4,613 | 16,155 | 14,123 | |||||||||||
| General and administrative expenses | 4,756 | 4,176 | 14,075 | 13,623 | |||||||||||
| Research and development expenses | 2,258 | 2,132 | 7,037 | 6,642 | |||||||||||
| Amortization of intangible assets | 365 | 855 | 2,005 | 3,177 | |||||||||||
| Goodwill impairment | - | - | - | 47,951 | |||||||||||
| Other operating expenses | 658 | 48 | 1,211 | 512 | |||||||||||
| Total operating expenses | 13,457 | 11,824 | 40,483 | 86,028 | |||||||||||
| Operating (loss) income | (1,150 | ) | 197 | (3,302 | ) | (50,290 | ) | ||||||||
| Other income (expense): | |||||||||||||||
| Interest expense | (1,783 | ) | (1,323 | ) | (5,304 | ) | (3,257 | ) | |||||||
| Other income (expense), net | 238 | (8 | ) | (292 | ) | (635 | ) | ||||||||
| Total other expense | (1,545 | ) | (1,331 | ) | (5,596 | ) | (3,892 | ) | |||||||
| Loss before income taxes | (2,695 | ) | (1,134 | ) | (8,898 | ) | (54,182 | ) | |||||||
| Income tax (benefit) expense | (72 | ) | 97 | 59 | (329 | ) | |||||||||
| Net loss | $ | (2,623 | ) | $ | (1,231 | ) | $ | (8,957 | ) | $ | (53,853 | ) | |||
| Loss per share: | |||||||||||||||
| Basic and diluted loss per share * | $ | (0.58 | ) | $ | (0.28 | ) | $ | (1.99 | ) | $ | (12.15 | ) | |||
| Weighted-average common shares: | |||||||||||||||
| Basic and diluted * | 4,561 | 4,456 | 4,500 | 4,432 | |||||||||||
| * Retroactively presented to reflect 1-for-10 reverse stock split effective on March 13, 2026. | |||||||||||||||
| HARVARD BIOSCIENCE, INC. | ||||||
| Condensed Consolidated Balance Sheets | ||||||
| (Unaudited, in thousands, except share and per share data) | ||||||
| September 30, 2026 | December 31, 2025 | |||||
| Assets | ||||||
| Cash and cash equivalents | $ | 4,856 | $ | 8,614 | ||
| Accounts receivable, net | 14,912 | 16,043 | ||||
| Inventories | 23,491 | 20,805 | ||||
| Other current assets | 2,718 | 2,763 | ||||
| Total current assets | 45,977 | 48,225 | ||||
| Property, plant and equipment | 5,399 | 4,787 | ||||
| Goodwill and other intangibles | 15,481 | 17,198 | ||||
| Other long-term assets | 8,442 | 9,861 | ||||
| Total assets | $ | 75,299 | $ | 80,071 | ||
| Liabilities and Stockholders' Equity | ||||||
| Other current liabilities | 26,127 | 21,960 | ||||
| Total current liabilities | 26,127 | 21,960 | ||||
| Long-term debt, net | 37,153 | 35,870 | ||||
| Other long-term liabilities | 6,914 | 8,507 | ||||
| Stockholders’ equity | 5,105 | 13,734 | ||||
| Total liabilities and stockholders’ equity | $ | 75,299 | $ | 80,071 | ||
| HARVARD BIOSCIENCE, INC. | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (Unaudited, in thousands) | |||||||
| Nine Months Ended | |||||||
| September 30, 2026 | September 30, 2025 | ||||||
| Cash flows from operating activities: | |||||||
| Net loss | $ | (8,957 | ) | $ | (53,853 | ) | |
| Adjustments to operating cash flows | 6,083 | 54,087 | |||||
| Changes in operating assets and liabilities | 2,289 | 6,591 | |||||
| Net cash (used in) provided by operating activities | (585 | ) | 6,825 | ||||
| Cash flows from investing activities: | |||||||
| Additions to property, plant and equipment | (2,041 | ) | (809 | ) | |||
| Acquisition of intangible assets | (838 | ) | (455 | ) | |||
| Net cash used in investing activities | (2,879 | ) | (1,264 | ) | |||
| Cash flows from financing activities: | |||||||
| Repayment of term debt | - | (3,000 | ) | ||||
| Payment of debt issuance costs | (131 | ) | (687 | ) | |||
| Proceeds from exercise of warrants and stock purchase plan | 150 | 46 | |||||
| Taxes paid related to net share settlement of equity awards | (111 | ) | (99 | ) | |||
| Net cash used in financing activities | (92 | ) | (3,740 | ) | |||
| Effect of exchange rate changes on cash and cash equivalents | (202 | ) | 888 | ||||
| (Decrease) increase in cash and cash equivalents | (3,758 | ) | 2,709 | ||||
| Cash and cash equivalents at the beginning of period | 8,614 | 4,108 | |||||
| Cash and cash equivalents at the end of period | $ | 4,856 | $ | 6,817 | |||
| HARVARD BIOSCIENCE, INC. | |||||||||||||||
| Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited) | |||||||||||||||
| (in thousands, except per share data and percentages) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||
| GAAP operating (loss) income | $ | (1,150 | ) | $ | 197 | $ | (3,302 | ) | $ | (50,290 | ) | ||||
| Stock-based compensation | 436 | 324 | 1,073 | 1,396 | |||||||||||
| Acquired asset amortization | 365 | 855 | 2,005 | 3,177 | |||||||||||
| Goodwill impairment | - | - | - | 47,951 | |||||||||||
| Other operating expenses (1) | 658 | 48 | 1,211 | 512 | |||||||||||
| Other adjustments (2) | 864 | 93 | 1,535 | 135 | |||||||||||
| Adjusted operating income | $ | 1,173 | $ | 1,517 | $ | 2,522 | $ | 2,881 | |||||||
| Operating margin | (5.2) | % | 1.0 | % | (5.0) | % | (80.1) | % | |||||||
| Adjusted operating margin | 5.3 | % | 7.4 | % | 3.8 | % | 4.6 | % | |||||||
| GAAP net loss | $ | (2,623 | ) | $ | (1,231 | ) | $ | (8,957 | ) | $ | (53,853 | ) | |||
| Stock-based compensation | 436 | 324 | 1,073 | 1,396 | |||||||||||
| Acquired asset amortization | 365 | 855 | 2,005 | 3,177 | |||||||||||
| Goodwill impairment | - | - | - | 47,951 | |||||||||||
| Other operating expenses (1) | 658 | 48 | 1,211 | 512 | |||||||||||
| Other adjustments (2) | 864 | 93 | 1,535 | 135 | |||||||||||
| Income taxes | 12 | (250 | ) | 727 | (266 | ) | |||||||||
| Adjusted net loss | (288 | ) | (161 | ) | (2,406 | ) | (948 | ) | |||||||
| Depreciation & amortization | 588 | 468 | 1,669 | 1,417 | |||||||||||
| Interest and Other income (expense), net (3) | 1,545 | 1,331 | 5,596 | 3,892 | |||||||||||
| Adjusted income taxes (4) | (84 | ) | 347 | (668 | ) | (63 | ) | ||||||||
| Adjusted EBITDA | $ | 1,761 | $ | 1,985 | $ | 4,191 | $ | 4,298 | |||||||
| Adjusted EBITDA margin | 7.9 | % | 9.6 | % | 6.4 | % | 6.8 | % | |||||||
| Diluted loss per share (GAAP) | $ | (0.58 | ) | $ | (0.28 | ) | $ | (1.99 | ) | $ | (12.15 | ) | |||
| Diluted adjusted loss per share | $ | (0.06 | ) | $ | (0.04 | ) | $ | (0.53 | ) | $ | (0.21 | ) | |||
| Weighted-average common shares: | |||||||||||||||
| Diluted GAAP * | 4,561 | 4,456 | 4,500 | 4,432 | |||||||||||
| Diluted Adjusted * | 4,561 | 4,456 | 4,500 | 4,432 | |||||||||||
| September 30, | |||||||||||||||
| 2026 | 2025 | ||||||||||||||
| Debt, including unamortized deferred financing costs | $ | 37,153 | $ | 33,967 | |||||||||||
| Unamortized deferred financing costs | 2,847 | 383 | |||||||||||||
| Cash and cash equivalents | (4,856 | ) | (6,817 | ) | |||||||||||
| Net debt | $ | 35,144 | $ | 27,533 | |||||||||||
| * Retroactively presented to reflect 1-for-10 reverse stock split effective on March 13, 2026. | |||||||||||||||
| (1) Other operating expenses for the three months ended September 30, 2026 includes | |||||||||||||||
| (2) Other adjustments for the three months ended September 30, 2026 includes | |||||||||||||||
| (3) Interest expense for the three months ended September 30, 2026 was | |||||||||||||||
| (4) Adjusted income taxes includes the tax effect of adjusting for the reconciling items using the tax rates in the jurisdictions in which the reconciling items arise. | |||||||||||||||
| HARVARD BIOSCIENCE, INC. | ||||||||||||||||||||
| Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited) | ||||||||||||||||||||
| (in thousands, except per share data and percentages) | ||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||
| Non-GAAP revenue on a constant currency basis | 2026 | 2025 | Growth Rates | 2026 | 2025 | Growth Rates | ||||||||||||||
| Total revenues | $ | 22,196 | $ | 20,591 | 7.8 | % | 65,678 | 62,815 | 4.6 | % | ||||||||||
| Effects of foreign currency rate fluctuations | 7 | - | (723 | ) | ||||||||||||||||
| Revenue on a constant currency basis | $ | 22,203 | $ | 20,591 | 7.8 | % | 64,955 | 62,815 | 3.4 | % | ||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||
| Non-GAAP Gross Profit and Non-GAAP Gross Margin | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||
| Amount | Margin | Amount | Margin | Amount | Margin | Amount | Margin | |||||||||||||
| (in thousands) | ||||||||||||||||||||
| Gross profit | $ | 12,307 | 55.4 | % | $ | 12,021 | 58.4 | % | $ | 37,181 | 56.6 | % | $ | 35,738 | 56.9 | % | ||||
| Adjustments: | ||||||||||||||||||||
| Stock-based compensation expense - cost of sales | 13 | 0.1 | % | 18 | 0.1 | % | 34 | 0.1 | % | 79 | 0.1 | % | ||||||||
| Depreciation and amortization - cost of sales | 201 | 0.9 | % | 156 | 0.8 | % | 598 | 0.9 | % | 440 | 0.7 | % | ||||||||
| Other adjustments - cost of sales (1) | 143 | 0.6 | % | - | 0.0 | % | 188 | 0.3 | % | - | 0.0 | % | ||||||||
| Non-GAAP gross profit | $ | 12,664 | 57.1 | % | $ | 12,195 | 59.2 | % | $ | 38,001 | 57.9 | % | $ | 36,257 | 57.7 | % | ||||
| (1) Other adjustments - cost of sales for the three months ended September 30, 2026 includes | ||||||||||||||||||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Harvard Bioscience's third-quarter 2026 financial results?
Harvard Bioscience reported revenue of $22.2 million, up 8% year over year, and a net loss of $2.6 million, compared with $1.2 million a year earlier. Gross margin declined to 55.4% from 58.4%, while adjusted EBITDA fell to $1.8 million from $2.0 million.
What is Harvard Bioscience's full-year 2026 guidance?
Harvard Bioscience expects revenue growth of 3%-5%, adjusted gross margin of 57%-59%, and adjusted EBITDA growth between (1%) and 4%. Revenue and gross margin guidance were reaffirmed; the adjusted EBITDA target was updated to reflect higher-than-expected sales of certain lower-margin Cellular & Molecular Technology products and higher revenue contribution from distribution channels and China.
When does Harvard Bioscience expect to complete Project Viking?
The company expects Project Viking to remain on track for completion by the end of the first quarter in 2027.