Harvard Biosci Stock Price, News & Analysis

Harvard Bioscience reported Q1 2023 revenues of $30 million, a 4% increase from Q1 2022. The company achieved a GAAP operating income of $1.7 million, compared to a loss of $6.7 million in the previous year. Adjusted operating income rose to $4.4 million, up from $2.4 million in Q1 '22. The gross margin improved to 61% from 56% year-over-year. Net income was $0.6 million, a notable recovery from a net loss of $6.9 million. Adjusted EBITDA increased to $4.8 million, reflecting a margin of 16% compared to 9% last year. The company expects mid-single-digit revenue growth for 2023, factoring in challenges from discontinued products.

Harvard Bioscience (Nasdaq: HBIO) announced an initial order for its new high-capacity behavioral monitoring system aimed at pre-clinical applications. This order, from a large contract research organization (CRO), is set for delivery in Q4 2023. The company anticipates broader product launches in the second half of 2023, integrating its Panlab® technology with Ponemah™ pre-clinical data management software in a GLP-compliant solution.

Serge Savard, VP of Product Management, emphasized the high throughput and accuracy of the system for neuroscience assessments and drug screening. CEO Jim Green noted that this order reflects the company's commitment to advancing academic research while expanding their product line for larger customers. This development is positioned to enhance Harvard Bioscience's service offerings and market presence.

Harvard Bioscience (Nasdaq: HBIO) is set to announce its financial results for Q1 2023 on April 25, 2023, before market opening. A conference call is scheduled for 9:00 a.m. Eastern Time, allowing participants to register for questions. The financial details and accompanying slide presentation will be available in the Investor Relations section of their website. Harvard Bioscience specializes in technologies and services for life sciences applications across research and pharmaceutical development, catering to a diverse clientele from academic institutions to contract research organizations globally.

Harvard Bioscience (Nasdaq: HBIO) announced that CEO Jim Green will present at the Sidoti Virtual Investor Conference on March 22-23, 2023. He is scheduled to present on March 22 at 10:00 AM ET, and a live webcast will be accessible through their website. The presentation will also be archived for a limited time. Additionally, the company will facilitate one-on-one meetings with investors on both days.

Harvard Bioscience (Nasdaq: HBIO) announced that Jim Green, Chairman and CEO, will present at the KeyBanc Capital Markets Life Sciences & MedTech Investor Forum on March 21, 2023, at 9:45 AM ET. A live webcast of the presentation will be available online and archived on the company's Investor Relations webpage for a limited time. Additionally, virtual one-on-one meetings will be hosted on the same day for interested investors. Harvard Bioscience specializes in developing, manufacturing, and selling technologies for life science applications, serving clients worldwide, including top academic institutions and pharmaceutical companies.

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.