Harvard Bioscience | 8-K: 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

• Third Quarter 2025: Revenues were $20.6 million, a decrease from $22.0 million in the third quarter of 2024.
• Nine Months Ended September 30, 2025: Revenues were $62.8 million, compared to $69.6 million in the same period of the prior year.

Operational Metrics

• Gross Margin: For the third quarter of 2025, the gross margin was 58.4%, slightly up from 58.1% in the third quarter of 2024. For the nine months ended September 30, 2025, the gross margin was 56.9%, down from 58.6% in the same period of the prior year.
• Net Loss: The net loss for the third quarter of 2025 was - $1.2 million, an improvement from a net loss of - $4.8 million in the third quarter of 2024. For the nine months ended September 30, 2025, the net loss was - $53.8 million, primarily due to a goodwill impairment of $48.0 million.
• Adjusted EBITDA: Adjusted EBITDA for the third quarter of 2025 was $2.0 million, up from $1.3 million in the third quarter of 2024. For the nine months ended September 30, 2025, adjusted EBITDA was $4.3 million, compared to $4.2 million in the same period of the prior year.

Cash Flow

• Cash Provided by Operations: For the third quarter of 2025, cash provided by operations was $1.1 million, compared to - $0.8 million in the same period in 2024. For the nine months ended September 30, 2025, cash provided by operations was $6.8 million, compared to - $0.3 million in the same period of the prior year.

Unique Metrics

• Net Debt: As of September 30, 2025, net debt was $27.5 million, compared to $33.8 million as of September 30, 2024.

Outlook / Guidance

• The company expects fourth quarter 2025 revenues of $22.5 million to $24.5 million and gross margin in the 58% to 60% range. The company plans to refinance or repay its debt in the fourth quarter, reflecting increased demand and backlog, improved operations, and strong financial discipline.