Harvard Biosci Stock Price, News & Analysis

Harvard Bioscience, Inc. (Nasdaq: HBIO) reported a Q4 2022 revenue of $28.4 million, marking a 14% decline from the previous year, impacted by $1 million in negative currency effects. Operating loss was $(0.5 million), down from a profit of $1.7 million in Q4 2021. Adjusted operating income was $3.4 million, with an adjusted operating margin of 11.9%. The company anticipates revenue growth in 2023 in the low-to-mid single digits, with improvements in gross margin and adjusted EBITDA. Plans to reduce debt to a ratio of 2 times by year-end were also noted.

Harvard Bioscience, Inc. (Nasdaq: HBIO) will release its fourth-quarter financial results for the period ending December 31, 2022, before market open on March 9, 2023. The company will also host a conference call at 8:00 a.m. Eastern Time to discuss these results. Participants wishing to ask questions during the call must register in advance to receive dial-in information. The earnings release and accompanying slide presentation will be accessible on the company's Investor Relations website. Harvard Bioscience specializes in developing technologies and products for life sciences, serving a diverse range of clients globally.

Harvard Bioscience, Inc. (Nasdaq: HBIO) announced the resignation of CFO Michael Rossi, effective December 31, 2022. Jennifer Cote, VP of global finance, will serve as interim CFO. Rossi will assist during the transition until May 10, 2023. CEO Jim Green acknowledged Rossi's key contributions to the company's strategic transformation since 2019. The company is actively searching for a permanent replacement. Harvard Bioscience develops and sells technologies for research and drug development across global markets.

Harvard Bioscience (Nasdaq: HBIO) reported Q3 2022 revenues of $26.9 million, a 9% decline year-over-year, driven by a 17% drop in pre-clinical product sales. Gross margin fell due to lower revenues and increased labor/material costs. The company anticipates Q4 revenues to reach approximately $30 million, with improved operating margins between 14%-15%. Key product launches include the Ultrospec 7500 and continuous glucose monitoring devices. Cost optimization efforts are expected to yield $4 million in annual gross margin improvements.

Harvard Bioscience (Nasdaq: HBIO) will release its third-quarter financial results for 2022, covering the period ending September 30, after market close on November 8, 2022. A conference call to discuss the results will take place at 4:30 p.m. ET the same day. Interested participants can register online for dial-in information and a unique PIN number. The earnings release and presentation materials will be accessible on the company's Investor Relations website.

Harvard Bioscience (Nasdaq: HBIO) reported Q2 2022 revenues of $29.2 million, flat year-over-year, with growth in cellular/molecular product revenues offset by declines in pre-clinical revenues and adverse currency effects. Adjusted operating income decreased to $3.1 million due to higher R&D and marketing costs. GAAP operating income rose to $4.0 million thanks to a $4.9 million litigation settlement. Looking ahead, the company anticipates 1-5% revenue growth for the year and plans to reduce its workforce by 5% as part of a strategic optimization.

Harvard Bioscience (Nasdaq: HBIO) is set to announce its Q2 financial results for the period ending June 30, 2022, before the market opens on August 4, 2022. A conference call will follow at 8:00 AM ET for discussions on the financial results.

Participants interested in joining the call can register here.

Harvard Bioscience reported a 7% year-over-year revenue increase for Q1 2022, reaching $28.8 million, despite COVID-19 lockdowns in China affecting operations. Strong North American sales and demand for pre-clinical and cellular/molecular products were key drivers. However, the company faced an operating loss of $6.7 million, influenced by higher material costs and a $5 million legal accrual. Adjusted operating income fell to $2.4 million, with adjusted margins down to 8.2%. Looking ahead, the company expects annual revenue growth of 8% to 13%, alongside improving gross margins.

Harvard Bioscience (Nasdaq: HBIO) has launched SmartStudy™, a new feature for its Buxco® Inhalation System, enhancing precision and cost-efficiency in small animal research. This technology allows researchers to stop the delivery of test articles to individual subjects once the desired dosage is achieved, minimizing error and optimizing resource use. Demonstrations of SmartStudy™ occurred at the Society of Toxicology meeting and will continue at the American Thoracic Society conference. The innovation aims to significantly improve inhalation study methodologies.