Harvard Bioscience (NASDAQ:HBIO) Releases Earnings Results, Beats Expectations By $0.27 EPS

Harvard Bioscience (NASDAQ:HBIO) released its quarterly earnings data on Tuesday. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.27, FiscalAI reports. Harvard Bioscience had a negative net margin of 13.20% and a negative return on equity of 38.35%. The firm had revenue of $22.20 million during the quarter, compared to analysts’ expectations 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

NASDAQ:HBIO opened at $9.68 on Thursday. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.98 and a current ratio of 1.87. The stock has a market capitalization of $44.04 million, a P/E ratio of -3.74 and a beta of 1.47. The company has a 50 day moving average price of $8.29 and a 200 day moving average price of $6.55. Harvard Bioscience has a fifty-two week low of $4.00 and a fifty-two week high of $10.20.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HBIO. Benchmark increased their price target on shares of Harvard Bioscience from $6.00 to $7.50 and gave the company a “speculative buy” rating in a research note on Wednesday, August 12th. StoneX lowered shares of Harvard Bioscience from a “speculative buy” rating to a “hold” rating in a research report on Wednesday. Weiss Ratings upgraded Harvard Bioscience from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Finally, Zacks Research initiated coverage on Harvard Bioscience in a research report on Tuesday, November 3rd. They issued a “hold” rating for the company. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.75.

Harvard Bioscience Company Profile

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.