Harvard Bioscience (NASDAQ:HBIO) Posts Earnings Results, Beats Estimates By $0.27 EPS

Harvard Bioscience (NASDAQ:HBIO) issued its earnings results on Tuesday. The medical instruments supplier reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.27, FiscalAI reports. Harvard Bioscience had a negative return on equity of 33.13% and a negative net margin of 11.86%. The company had revenue of $22.20 million during the quarter, compared to the consensus estimate of $21.80 million.

Here are the key takeaways from Harvard Bioscience’s conference call:

• Q3 revenue rose 8% to $22.2 million, with strength in respiratory, inhalation, organoid and fluidics products, plus continued demand from CROs and biopharma customers. Management said the growth was largely run-rate rather than driven by one-off orders.
• Adjusted gross margin was 57.1% and adjusted EBITDA fell to $1.8 million, as sales mix shifted toward lower-margin legacy products, distribution channels and China. The company cut its full-year adjusted EBITDA growth outlook to -1% to 4%, while maintaining revenue growth guidance of 3%–5% and gross margin guidance of 57%–59%.
• Project Viking remains on schedule for completion in Q1 2027; management expects it to deliver $3 million in savings in 2027 and $4 million annually thereafter. Executives also expect the project, along with a better product mix, to support gross margins around 60% in 2027.
• China revenue grew 31% in Q3, and all three localized BTX electroporation product lines are now available there. Sales through Fisher Scientific North America more than doubled year to date, supporting the company’s efforts to expand its distribution reach.
• Academic demand remains weak, particularly in Europe, where revenue fell 5%; management said academic softness contributed to the regional decline. Cash used in operations was $0.6 million for the first nine months, versus $6.8 million generated a year earlier, while net debt increased about $7.6 million year over year.

Harvard Bioscience Stock Performance

HBIO stock traded down $0.01 during midday trading on Tuesday, hitting $9.08. The company’s stock had a trading volume of 33,108 shares, compared to its average volume of 33,082. The stock has a market cap of $41.31 million, a price-to-earnings ratio of -3.93 and a beta of 1.47. The company has a quick ratio of 0.98, a current ratio of 1.87 and a debt-to-equity ratio of 4.94. The stock’s 50-day moving average price is $8.24 and its 200 day moving average price is $6.52. Harvard Bioscience has a 1 year low of $4.00 and a 1 year high of $9.32.

Harvard Bioscience News Summary

Here are the key news stories impacting Harvard Bioscience this week:

• Positive Sentiment: Third-quarter revenue rose 8% year over year to $22.2 million, topping the $21.8 million consensus estimate. The company’s reported loss of $0.06 per share also was narrower than the $0.33 loss analysts expected. Harvard Bioscience third-quarter results
• Neutral Sentiment: Harvard Bioscience reaffirmed its 2026 revenue-growth outlook of 3%–5%. Fourth-quarter revenue guidance of $23.7 million–$25.5 million and full-year guidance of $89.1 million–$90.9 million are both broadly in line with analyst expectations. Company guidance and results
• Negative Sentiment: Despite revenue growth, gross margin contracted to 55.4% from 58.4% a year earlier, and adjusted EBITDA declined to $1.8 million from $2.0 million. The company recorded a $2.6 million GAAP net loss, wider than the prior-year $1.2 million loss, and had $4.9 million in cash at quarter-end. Quarterly revenue and financial details

Analyst Ratings Changes

Several research analysts have issued reports on the company. Zacks Research started coverage on Harvard Bioscience in a report on Tuesday, November 3rd. They issued a “hold” rating on the stock. Benchmark boosted their price objective on Harvard Bioscience from $6.00 to $7.50 and gave the company a “speculative buy” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings lowered Harvard Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Harvard Bioscience presently has an average rating of “Hold” and an average target price of $6.75.

About Harvard Bioscience

Harvard Bioscience, Inc (NASDAQ: HBIO) develops, manufactures and supplies specialized tools, equipment and consumables used in biomedical research, drug discovery and related life science applications. Its products support work in areas such as cell biology, electrophysiology, gene delivery, organ-on-chip research and preclinical studies.

The company’s portfolio includes laboratory instruments, tissue and organ perfusion systems, electrophysiology equipment, cell and molecular biology products, and related consumables.