HOLLISTON, Mass., Feb. 26, 2026 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) will announce its financial results for the quarter ended December 31, 2025, before the market opens on March 12, 2026, and will hold a conference call to discuss the results at 8:00 a.m. Eastern Time. Participants who would like to join the call and ask a question must register here. Once registered, you will receive the dial-in numbers and a unique PIN number. Participants who would like to join the audio-only we ...

Financial Performance - Harvard Bioscience, Inc. reported preliminary unaudited revenue for Q4 2025, but specific figures are not disclosed in the current report[4] - The financial results have not been audited, reviewed, or compiled by an independent registered public accounting firm, indicating potential discrepancies upon finalization[4] Compliance and Transparency - The report is part of the company's compliance with the Securities Exchange Act of 1934, ensuring transparency in financial reporting[5]

Core Viewpoint - Harvard Bioscience, Inc. announced preliminary financial results for Q4 2025 and outlined a long-term strategy aimed at sustainable growth and increasing shareholder value [1][2]. Financial Highlights - The company expects to report Q4 revenue of $23.7 million, which is above the midpoint of the guidance range of $22.5 million to $24.5 million [6]. - Gross margin is projected at 60%, at the high end of the guidance range of 58% to 60%, attributed to a better mix of higher-margin products and prior cost reductions [6]. - Adjusted EBITDA is anticipated to be $3.8 million, reflecting a 27% year-over-year growth driven by cost reductions and improved expense management [6]. Strategic Focus - The company is transitioning from a traditional tools provider to a leader in Translational Science, aiming to bridge the gap between laboratory research and human clinical success [2]. - The strategy is built around four pillars: leading the translational bridge, new product introduction pipeline, consumables revenue expansion, and operational excellence [7]. - The focus on consumables aims to increase the recurring revenue mix from the current 55% of total revenues [7]. Management Commentary - The CEO expressed satisfaction with the fourth quarter performance and confidence in driving year-over-year revenue growth and mid-to-high single-digit adjusted EBITDA growth in 2026 [3][5]. Upcoming Events - The full Q4 and fiscal year 2025 results will be released on March 12, 2026, followed by a conference call to discuss the results and strategy in detail [5][8].

Core Viewpoint - Harvard Bioscience, Inc. is restructuring its production operations to streamline processes and reduce long-term costs, which has positively impacted its stock price [1] Facility Changes - The company will close its Holliston, Massachusetts plant and shift U.S. production to its Minneapolis, Minnesota hub, with some operations moving to Germany, Sweden, and the U.K. [2] - CEO John Duke emphasized that the reorganization will enhance flexibility and leverage scale and expertise across different sites [2] Financial Impact - Management anticipates approximately $3 million in savings by 2027, with annual savings expected to reach about $4 million starting in 2028, driven by lower overhead, fewer SKUs, and improved asset utilization [3] Workforce and Execution - The company plans to reconfigure roles across its operations and has established a phased transition plan to ensure order fulfillment and product quality during the consolidation [4] - The Holliston facility will remain operational until 2026 to support customers, with the goal of completing the consolidation by the first quarter of 2027 [4] - Transition-related costs may increase expenses until mid-2027 [4] Stock Performance - Harvard Bioscience shares increased by 0.63% to $0.54 in premarket trading, although the stock has declined over 69% in the past year [5]

Core Viewpoint - Harvard Bioscience, Inc. is consolidating its manufacturing operations to enhance efficiency, execution, and cost savings [1][3] Manufacturing Consolidation - The company will close its manufacturing facility in Holliston, MA, and transition U.S. production to Minneapolis, MN, while relocating certain operations to Germany, Sweden, and the UK [2] - The Holliston facility will remain operational throughout 2026 to ensure continuity and customer service, with the consolidation expected to be completed by Q1 2027 [3] Cost Savings and Operational Efficiency - The initiative is projected to yield approximately $3 million in cost savings in 2027 and around $4 million in annual savings thereafter [4][8] - Savings will come from reduced overhead, SKU rationalization, improved asset utilization, and a targeted reconfiguration of the workforce [4] Transition Plan - A comprehensive, phased transition plan has been implemented to prevent disruptions in order fulfillment, product quality, and technical support [3]

Core Viewpoint - Harvard Bioscience, Inc. has entered into a $40 million credit facility agreement with BroadOak Capital Partners to refinance existing debt and strengthen its balance sheet [1][3] Financing Details - The credit facility consists of three term loans: Term Loan A and Term Loan B provide $32.5 million in gross proceeds, while Term Loan C is a $7.5 million convertible loan [2] - All loans mature on December 17, 2029, with quarterly principal amortization payments starting on December 31, 2027, for Term Loan A and Term Loan B [2] - BroadOak received warrants for 2 million shares at $0.50 per share and the right to nominate a board member [2] Strategic Importance - The financing package is seen as a significant milestone for the company, providing stability and flexibility for future operations [3] - The refinancing is expected to enhance liquidity and support the execution of strategic priorities [3] Board of Directors Update - Bill Snider from BroadOak has joined the board of directors and will serve on the compensation committee [4] - Snider brings over 30 years of investment experience in life sciences and has previously held significant roles in venture capital [4] Advisory Board Formation - A new Product, Operations, and Scientific Advisory Board will be established to guide commercial opportunities and product planning [5] Market Position and Future Outlook - Bill Snider expressed confidence in the company's position regarding new regulatory methodologies, indicating a strong future outlook [6]

Core Points - Former Treasury Secretary Larry Summers announced he is stepping back from all public commitments due to the fallout from his emails with Jeffrey Epstein [1][3] - Summers expressed deep shame and took full responsibility for his decision to continue communication with Epstein [1] - He will continue to fulfill his teaching obligations while reducing public engagements as part of a broader effort [2] Company and Industry Summary - Summers is a member of the board of OpenAI and a columnist for Bloomberg News, indicating his influence in both the technology and media sectors [2] - The release of Summers' emails with Epstein was part of a larger document disclosure by the House Oversight and Government Reform Committee, which included over 20,000 documents obtained from Epstein's estate [3] - Epstein's criminal background and subsequent death in 2019 have intensified scrutiny on individuals associated with him, impacting reputations and public roles [3]

Group 1 - The article does not provide any specific information or insights regarding a company or industry [1]

Financial Performance - Revenues decreased by $1.4 million, or 6.3%, to $20.6 million for the three months ended September 30, 2025, compared to $22.0 million for the same period in 2024[86] - Gross profit decreased by $0.8 million, or 5.8%, to $12.0 million for the three months ended September 30, 2025, with a gross margin of 58.4%[87] - Revenues decreased by $6.8 million, or 9.7%, to $62.8 million for the nine months ended September 30, 2025, compared to $69.6 million for the same period in 2024[97] - Gross profit decreased by $5.1 million, or 12.3%, to $35.7 million for the nine months ended September 30, 2025, with a gross margin of 56.9%[98] Expenses - Sales and marketing expenses decreased by $0.9 million, or 16.4%, to $4.6 million for the three months ended September 30, 2025[88] - General and administrative expenses decreased by $0.8 million, or 17.2%, to $4.2 million for the three months ended September 30, 2025[89] - Research and development expenses decreased by $0.5 million, or 16.9%, to $2.1 million for the three months ended September 30, 2025[90] - Interest expense increased by $0.2 million, or 8.6%, to $2.6 million for the nine months ended September 30, 2025[105] Taxation - The effective tax rate for the three months ended September 30, 2025, was (8.6)%, compared to (6.9)% for the same period in 2024, primarily due to changes in income mix by jurisdiction[95] - The income tax benefit for the nine months ended September 30, 2025 was $(0.3) million, with an effective tax rate of 0.6%, compared to a benefit of $0.2 million and an effective tax rate of (1.4)% for the same period in 2024[107] Cash Flow and Liquidity - Cash and cash equivalents increased to $6.8 million as of September 30, 2025, up from $4.1 million as of December 31, 2024[108] - Net cash provided by operating activities was $6.8 million for the nine months ended September 30, 2025, compared to $(0.3) million for the same period in 2024, driven by a reduction in accounts receivable of $2.8 million and inventories of $1.6 million[115] - Net cash used in investing activities was $1.3 million for the nine months ended September 30, 2025, primarily for capital expenditures, compared to $0.9 million in 2024[116] - The company made $3.0 million in debt repayments on its term loan during the nine months ended September 30, 2025, resulting in net cash used in financing activities of $(3.7) million[117] - The company received ERTC refunds totaling $5.4 million as of September 30, 2025, contributing positively to cash flow[109] Compliance and Going Concern - The company was not in compliance with Refinancing Milestones and financial covenants as of June 30, 2025, leading to an amendment agreement with lenders to waive certain defaults[111] - The company continues to explore alternative sources of capital to refinance its outstanding indebtedness, but access to such capital remains uncertain[112] - There is substantial doubt about the company's ability to continue as a going concern unless it can access other sources of capital or extend repayment dates under the Credit Agreement[113] Other Financial Impacts - Goodwill impairment increased by $48.0 million for the nine months ended September 30, 2025, due to a sustained decrease in stock price and other factors[103] - The company recorded a loss on equity securities of $1.6 million from the sale of Harvard Apparatus Regenerative Technology Inc. stock, which was sold for $1.9 million during the nine months ended September 30, 2024[106]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $20.6 million, at the high end of guidance and slightly up from Q2 2025, but down from $22 million in Q3 2024 [4][11] - Gross margin improved to 58.4%, up from 58.1% in Q3 2024 and exceeded guidance of 56-58% [4][11] - Adjusted EBITDA increased to $2 million from $1.3 million in Q3 2024, driven by reduced operating expenses [11][15] - Operating cash flow was positive at $1.1 million for Q3 2025, contributing to a year-to-date cash flow of $6.8 million compared to negative $0.3 million in the same period last year [16][17] Business Line Data and Key Metrics Changes - Preclinical sales increased sequentially and year-over-year due to growth in telemetry and respiratory product lines [12][13] - The Soho telemetry rollout expanded into additional key accounts, with increased recurring consumable demand [5] - The Biochrome amino acid analyzer for bioproduction performed well, with expectations to exceed last year's consumable revenue [5] Market Data and Key Metrics Changes - Revenue in the Americas increased sequentially by 3.6% but was down 4.4% year-over-year [12] - European revenue increased 0.3% sequentially, reflecting stronger preclinical academic shipments, but was flat year-over-year [13] - In China, revenue was down 6.3% sequentially and 19.6% year-over-year, although there is optimism regarding tariff disruptions [9][13] Company Strategy and Development Direction - The company outlined three priorities for 2025: maintain financial discipline, accelerate product adoption, and strengthen capital structure through debt refinancing [4] - The launch of the Incubate MultiWell system aims to enhance the electrophysiology portfolio and expand into high-throughput applications [6][7] - The company is actively discussing options for refinancing its credit agreement, with expectations to complete this in Q4 2025 [8][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about increased demand and backlog heading into Q4 2025, with expectations for continued momentum [9][18] - The ongoing government shutdown may impact NIH funding distribution, which is being monitored closely [8][9] - The company is fundamentally stronger than at the beginning of the year, with a leaner structure and better alignment with long-term growth opportunities [9] Other Important Information - The company expanded its distribution agreement with Fisher Scientific, enhancing access to its products across North America [7] - The adoption of the MeshMEA organoid platform is gaining momentum, supported by regulatory initiatives [8] Q&A Session Summary Question: What drove the uptick in preclinical systems during the quarter? - The uptick was driven by broad demand for telemetry products across various regions and customer groups [20] Question: Is the backlog similar to the existing product mix? - The backlog showed a uniform increase across geographies and products, not driven by any specific product [21][22] Question: What improvements are seen in the academic and government market? - Improvement is reflected in Q3 results and strong backlog, but the potential impact of NIH funding and government shutdown is considered in guidance [23] Question: How does the guidance account for NIH funding and government shutdown? - The lower range of guidance considers the potential for a prolonged government shutdown affecting funding [27] Question: Will NIH funds flow through sales in the first quarter of next year if not released in Q4? - Funds are not lost but will be delayed, potentially impacting orders in Q1 or Q2 of 2026 [28] Question: What is the status of the ERP project? - The ERP project was completed in Q4, contributing to reduced expenses and operational efficiencies [30]