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Harvard Bioscience
Harvard Bioscience (HBIO) investor relations material
Harvard Bioscience Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary12 Mar, 2026
Executive summary
2025 marked a pivotal year with comprehensive refinancing, operational reorganization, and leadership enhancements, including the appointment of a new CEO and permanent CFO.
Manufacturing consolidation and governance improvements aimed at simplifying operations and supporting future growth.
Strategic focus shifted toward translational science, platform-based innovation, and recurring revenue streams.
Exited FY25 as a leaner, more efficient business with a strengthened balance sheet.
Net loss for 2025 was ($56.7M), primarily due to a $48M goodwill impairment.
Financial highlights
Q4 2025 revenue was $23.7M, above midpoint of guidance but down from $24.6M in Q4 2024; gross margin reached 59.77%, up 260 bps year-over-year.
Q4 adjusted EBITDA grew 27% year-over-year to $3.8M; operating income improved to $1.7M from flat last year.
Full year 2025 revenue was $86.6M, down from $94.1M, mainly due to tariffs and delayed NIH funding; adjusted EBITDA rose 12.5% to $8.1M.
GAAP net loss increased due to a $48M goodwill impairment; adjusted operating income and EPS were impacted by non-cash items.
Cash flow from operations improved to $6.7M from $1.4M in 2024.
Outlook and guidance
2026 guidance: revenue growth of 2%-4%, gross margin of 58%-60%, adjusted EBITDA growth of 6%-10%.
Q1 2026 expected revenue: $20M-$22M; adjusted gross margin: 57%-59%; adjusted EBITDA: $1M-$2.2M.
Revenue expected to ramp through 2026, driven by new product innovation and improved market conditions.
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Latest events from Harvard Bioscience
- Reverse stock split and adjournment proposals passed with over 97% approval.HBIO
EGM 20266 Mar 2026 - Q2 2024 revenue fell nearly 20% with net loss widening, prompting reduced full-year guidance.HBIOQ2 20242 Feb 2026
- Growth driven by new organoid and bioproduction systems, with APAC recovery boosting outlook.HBIOJefferies Global Healthcare Conference1 Feb 2026
- Shareholders to vote on a reverse stock split to maintain Nasdaq listing and flexibility.HBIOProxy Filing30 Jan 2026
- Up to 9.5 million shares registered for resale, with no direct proceeds to the company.HBIORegistration Filing30 Jan 2026
- Approval sought for a reverse stock split to maintain Nasdaq listing and shareholder value.HBIOProxy Filing20 Jan 2026
- New product launches and bioproduction expansion set the stage for double-digit growth.HBIOSidoti September Small-Cap Virtual Conference20 Jan 2026
- Revenue and margins declined, but cost cuts and new products support cautious Q4 optimism.HBIOQ3 202416 Jan 2026
- Organoid and bioproduction innovations drive double-digit growth and recurring revenues.HBIOSidoti Micro-Cap Virtual Conference9 Jan 2026
Next Harvard Bioscience earnings date
2026 KeyBanc Capital Markets Healthcare Forum17 Mar, 2026
Harvard Bioscience
Next Harvard Bioscience earnings date
2026 KeyBanc Capital Markets Healthcare Forum17 Mar, 2026
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