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

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

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 Price Performance

NASDAQ HBIO traded down $0.01 during trading hours on Tuesday, reaching $9.08. The company’s stock had a trading volume of 21,622 shares, compared to its average volume of 33,081. The stock has a market cap of $41.31 million, a PE ratio of -3.93 and a beta of 1.47. 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 company’s 50-day moving average is $8.24 and its two-hundred day moving average is $6.52. Harvard Bioscience has a fifty-two week low of $4.00 and a fifty-two week high of $9.32.

Analysts Set New Price Targets

HBIO has been the subject of a number of research reports. Weiss Ratings cut shares of Harvard Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Benchmark increased their target price on Harvard Bioscience from $6.00 to $7.50 and gave the stock a “speculative buy” rating in a research report on Wednesday, August 12th. Finally, Zacks Research began 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, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.75.

Trending Headlines about Harvard Bioscience

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

• Positive Sentiment: Q3 revenue rose 8% year over year to $22.2 million, topping the $21.8 million analyst estimate. Reported EPS of ($0.06) also beat the consensus estimate of ($0.33). Harvard Bioscience Q3 results
• Neutral Sentiment: Management reaffirmed 2026 revenue-growth guidance of 3%–5%. Q4 revenue guidance of $23.7 million–$25.5 million and full-year guidance of $89.1 million–$90.9 million bracket analyst expectations, offering little clear change to the outlook. Company results and guidance
• Neutral Sentiment: Project Viking remains on track for completion by the end of Q1 2027; the company did not provide further details in the report. Q3 revenue and operating update
• Negative Sentiment: Despite revenue growth, Harvard Bioscience’s GAAP net loss widened to $2.6 million from $1.2 million a year earlier. Gross margin fell to 55.4% from 58.4%, adjusted EBITDA declined to $1.8 million from $2.0 million, and cash was $4.9 million at quarter-end. These results highlight ongoing profitability and liquidity concerns. Q3 financial details

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.