Every 10-Q that Harvard Bioscience Inc (HBIO) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow HBIO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HBIO filings page.
Harvard Bioscience, Inc. reported higher revenue but continued losses for the quarter ended June 30, 2026. Quarterly revenues rose to $22.7 million, up 11.1% year over year, driven mainly by increased sales to CROs in the Americas and distributors in Asia-Pacific. Gross profit grew to $12.6 million, though gross margin dipped slightly to 55.6% on less favorable product mix.
The company recorded a quarterly net loss of $2.9 million (loss per share $0.64), compared with a $2.3 million loss a year earlier, and a six‑month net loss of $6.3 million. There was no goodwill impairment in 2026 versus a $48.0 million non‑cash charge in the prior‑year period. Operating expenses increased as sales, marketing, and R&D headcount and travel normalized, and restructuring costs were incurred.
Balance sheet quality remains constrained: cash and cash equivalents were $6.5 million against long‑term debt of $36.7 million with an effective interest rate of 17.6% for the first half. Stockholders’ equity declined to $7.4 million. The company completed a 1‑for‑10 reverse stock split, leaving 4,552,305 shares outstanding as of August 4, 2026. Management is executing "Project Viking" and a sales and marketing restructuring, expecting combined annual cost savings of up to $4 million from 2028, with estimated restructuring charges of $4.0–5.0 million.
Harvard Bioscience reported first-quarter 2026 revenue of $20.8 million, down about 5% from the prior year as academic and Asia-Pacific demand softened. Gross profit held steady at $12.2 million, with gross margin improving to 59.0% from 56.0% on a more favorable product mix.
The company posted a net loss of $3.4 million, far smaller than the prior-year loss that was dominated by a large goodwill impairment. Operating expenses declined sharply without that charge, but interest expense nearly doubled to $1.7 million following the high-rate 2025 loan refinancing.
Cash and cash equivalents were $7.1 million against $40 million of term debt, and the company remained in compliance with liquidity and adjusted EBITDA covenants. Management states prior going concern doubts have been alleviated. A 1-for-10 reverse stock split was completed to support Nasdaq listing compliance, and the new Project Viking manufacturing consolidation is expected to deliver several million dollars of annual cost savings after 2027, with restructuring charges incurred beginning in this quarter.
Harvard Bioscience reported Q3 results showing softer demand and tighter liquidity. Revenue was $20.6 million, down 6.3% year over year, with gross margin at 58.4%. Operating income was $0.2 million, and net loss was $1.2 million (loss per share $0.03).
For the first nine months, revenue was $62.8 million (down 9.7%). A non‑cash $47.951 million goodwill impairment recorded in Q1 drove a year‑to‑date net loss of $53.9 million. Cash from operations was $6.8 million year to date, ending cash was $6.8 million, and total debt classified as current was $34.0 million.
The company disclosed substantial doubt about its ability to continue as a going concern. Lenders waived certain covenant breaches and deferred testing for Q3 under the August 2025 amendment, but the company must complete steps toward refinancing or repayment of its Credit Agreement by December 5, 2025. The amendment increased pricing to SOFR plus 700 bps and added mandatory prepayment provisions. As of November 3, 2025, common shares outstanding were 44,579,665.
Harvard Bioscience reported weaker sales and a large non-cash charge that materially worsened results for the six months. Revenue declined to $20.45 million in the quarter (down ~11.5% year-over-year) and to $42.22 million for the six-month period (down ~11.3%). The company recorded a $47.951 million goodwill impairment that drove a six-month net loss of $52.622 million (loss per share $1.19). Operating cash flow improved, providing $5.741 million for the six months, and cash and cash equivalents rose to $7.442 million from $4.108 million.
The balance sheet shows $34.864 million of debt (term loan $22.7 million; revolver $12.65 million) and continued covenant pressure. Management obtained a covenant waiver in August 2025 conditioned on completing a refinancing by December 2025, creating substantial doubt about the company’s ability to continue as a going concern unless refinancing or other capital is secured. The filing also discloses previously reported material weaknesses in internal controls that remain under remediation.