Welcome to our dedicated page for Harvard Biosci news (Ticker: HBIO), a resource for investors and traders seeking the latest updates and insights on Harvard Biosci stock.
Harvard Bioscience reports company news on its life science research tools business, which develops, manufactures and sells technologies, products and services for research, pharmaceutical and therapy discovery, bioproduction and preclinical testing. Updates commonly cover operating and financial results, new products for translational science, New Approach Methodologies, product mix, and customer markets that include academic institutions, government laboratories, pharmaceutical companies, biotechnology companies and contract research organizations.
Company releases also address capital actions, Nasdaq listing compliance, manufacturing and operating-model changes, management appointments, guidance, and investor conference presentations. The business sells through direct and distribution channels and has operations in the United States, Europe and China.
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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.