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

Harvard Bioscience (NASDAQ:HBIO) posted its earnings results on Tuesday. The medical instruments supplier reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $22.20 million for 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

Shares of Harvard Bioscience stock traded up $0.17 during trading hours on Tuesday, hitting $9.26. 88,184 shares of the company were exchanged, compared to its average volume of 33,390. Harvard Bioscience has a 1 year low of $4.00 and a 1 year high of $9.60. The company has a current ratio of 1.87, a quick ratio of 0.98 and a debt-to-equity ratio of 4.94. The business has a 50-day moving average of $8.24 and a 200-day moving average of $6.52. The stock has a market capitalization of $42.13 million, a price-to-earnings ratio of -4.01 and a beta of 1.47.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HBIO. Benchmark raised their price target on Harvard Bioscience from $6.00 to $7.50 and gave the stock a “speculative buy” rating in a research note on Wednesday, August 12th. Zacks Research assumed coverage on shares of Harvard Bioscience in a research report on Tuesday, November 3rd. They set a “hold” rating on the stock. Finally, Weiss Ratings raised shares of Harvard Bioscience from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. 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 stock. According to data from MarketBeat.com, Harvard Bioscience currently has an average rating of “Hold” and a consensus 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, above analysts’ $21.8 million estimate. Reported EPS of -$0.06 also beat the consensus estimate of -$0.33. Q3 earnings results
• Neutral Sentiment: The company reaffirmed 2026 revenue-growth guidance of 3%–5%. Q4 revenue guidance of $23.7 million–$25.5 million brackets the $24.5 million consensus, while full-year guidance of $89.1 million–$90.9 million is broadly in line with the $89.8 million estimate. Company results and guidance
• Negative Sentiment: Despite revenue growth, the GAAP net loss widened to $2.6 million from $1.2 million a year earlier. Gross margin declined to 55.4% from 58.4%, adjusted EBITDA fell to $1.8 million from $2.0 million, and cash stood at $4.9 million at quarter-end. These results temper the earnings beat. Q3 revenue and 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.