Harvard Bioscience | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 20.59 M

Revenue: As of FY2025 Q3, the actual value is USD 20.59 M, beating the estimate of USD 20 M.

EPS: As of FY2025 Q3, the actual value is USD -0.03, beating the estimate of USD -0.06.

EBIT: As of FY2025 Q3, the actual value is USD -168 K.

Segment Revenue

• Total Revenue: $20.6 million for the three months ended September 30, 2025, compared to $22.0 million for the same period in 2024, representing a decrease of 6.3%.
• Nine Months Revenue: $62.8 million for the nine months ended September 30, 2025, compared to $69.6 million for the same period in 2024, representing a decrease of 9.7%.

Operational Metrics

• Gross Profit: $12.0 million for the three months ended September 30, 2025, compared to $12.8 million for the same period in 2024, a decrease of 5.8%.
• Gross Margin: 58.4% for the three months ended September 30, 2025, compared to 58.1% for the same period in 2024.
• Net Loss: $1.2 million for the three months ended September 30, 2025, compared to $4.8 million for the same period in 2024.
• Operating Income (Loss): $0.2 million for the three months ended September 30, 2025, compared to a loss of $1.9 million for the same period in 2024.

Cash Flow

• Net Cash Provided by Operating Activities: $6.8 million for the nine months ended September 30, 2025, compared to - $0.3 million for the same period in 2024.
• Net Cash Used in Investing Activities: - $1.3 million for the nine months ended September 30, 2025, compared to - $0.9 million for the same period in 2024.
• Net Cash Used in Financing Activities: - $3.7 million for the nine months ended September 30, 2025, compared to $1.2 million provided for the same period in 2024.

Unique Metrics

• Goodwill Impairment: $48.0 million recorded as a non-cash charge for the nine months ended September 30, 2025.

Future Outlook and Strategy

• Core Business Focus: The company is actively working to refinance or repay its Credit Agreement by December 5, 2025, to avoid default.
• Non-Core Business: The company continues to explore alternative sources of capital to refinance outstanding indebtedness under the Credit Agreement.

Priority

• Debt Management: The company is focused on refinancing or repaying its Credit Agreement to avoid default and ensure liquidity.