Core Viewpoint - Harvard Bioscience, Inc. will announce its financial results for Q4 2024 on March 12, 2025, before market opening, followed by a conference call at 8:00 a.m. Eastern Time [1] Company Overview - Harvard Bioscience, Inc. is a prominent developer, manufacturer, and seller of technologies and products that facilitate advancements in life sciences, including research, pharmaceutical discovery, bio-production, and preclinical testing [3] - The company serves a diverse customer base, including prestigious academic institutions, government laboratories, and leading pharmaceutical and biotechnology firms, with operations in the United States, Europe, and China [3]

Company Announcement - Harvard Bioscience, Inc. will participate in the Sidoti Micro Cap Virtual Conference on January 22nd, 2025, with a presentation scheduled for 10:00 am ET [1] - The presentation will be available via live webcast on the company's investor relations website, with a replay accessible shortly after the event [2] Company Overview - Harvard Bioscience, Inc. is a prominent developer, manufacturer, and seller of technologies and products that facilitate advancements in life sciences, including research, pharmaceutical and therapy discovery, bio-production, and preclinical testing [3] - The company's customer base includes prestigious academic institutions, government laboratories, and leading pharmaceutical, biotechnology, and contract research organizations globally [3] - Harvard Bioscience operates in North America, Europe, and China, utilizing both direct and distribution channels to reach customers worldwide [3]

Company Announcement - Harvard Bioscience, Inc. will participate in the Sidoti Micro Cap Virtual Conference on January 22, 2025, with a presentation scheduled for 10:00 am ET [1] - The presentation will be available via live webcast on the company's investor relations website, with a replay accessible shortly after the event [2] Company Overview - Harvard Bioscience, Inc. is a prominent developer, manufacturer, and seller of technologies and products that facilitate advancements in life sciences, including research, pharmaceutical and therapy discovery, bio-production, and preclinical testing [2] - The company's customer base includes prestigious academic institutions, government laboratories, and leading pharmaceutical, biotechnology, and contract research organizations globally [2] - Harvard Bioscience operates in North America, Europe, and China, utilizing both direct and distribution channels for sales [2]

Financial Data and Key Metrics - Revenue in Q3 2024 was $22 million, down 13% YoY and 5% sequentially, primarily due to weakness in China and Asia Pacific [7] - Gross margin was $12.8 million or 58.1%, close to the 60% target despite a low revenue quarter [9] - GAAP operating loss was $1.9 million, while adjusted operating income was $800,000 or 3.8% of revenue [9] - Adjusted EBITDA was $1.3 million or 6% of revenue [9] - Cash flow used in operations was $0.8 million in Q3 2024, compared to $4.4 million provided in the same period last year [24] Business Line Performance - Americas revenue was down 12% YoY but stabilized sequentially, with preclinical sales declining 26% YoY due to COVID-related respiratory products and telemetry system software [13] - Cellular and Molecular (CMT) revenue grew 15% YoY in the Americas, showing modest sequential growth [14] - Europe revenue was down 12% YoY but stabilized sequentially, with preclinical sales down 21% YoY and CMT sales down 7% YoY [15] - APAC revenue was down 20% YoY and 20% sequentially, with preclinical sales down 32% YoY and CMT sales down 5% YoY [16] Market Performance - Americas and Europe markets are stabilizing, with flat sequential revenue for the last three quarters [8] - China and APAC markets saw further weakness in Q3, but are expected to stabilize or improve modestly going forward [8] - Global trailing 3-month order profile shows an inflection point to growth since June, with booking trends increasing for four months [17] Company Strategy and Industry Competition - The company successfully transitioned all U.S. operations to a modern ERP system, improving inventory and supply chain management [10] - Cost reduction actions in Q3 and early Q4 are expected to reduce operating expenses by $1 million per quarter starting in Q4 [11] - New product introductions, including the SoHo telemetry devices and VivaMARS neurobehavioral monitoring system, are expected to drive incremental growth [31][32] - The company is focusing on high-growth areas like electroporation, bioproduction, and Mesh MEA organoid platforms, with strong interest from biopharma and CRO customers [34][37] Management Commentary on Operating Environment and Future Outlook - Management expects Q4 revenue to range between $23 million and $26 million, with gross margins in the 59% to 60% range [41] - Adjusted EBITDA margins are expected to be in the mid-teens for Q4, with full-year EBITDA margins in the high single-digits [42] - The company is optimistic about 2025, with new products expected to drive high single-digit to double-digit growth [50][57] Other Important Information - The company settled a defined benefit plan in the U.K., removing future annuity payments and resulting in a noncash realized loss of $1.2 million [22] - Net debt at the end of Q3 2024 was slightly above the net debt at the end of the year, with minimal net borrowings against the revolver [25] - The company amended its credit agreement in Q3, limiting additional borrowings until annual financials are reported in March 2025 [26] Q&A Session Summary Question: CRO Dynamics and Revenue Contribution - CROs contribute about 25% of the company's global revenue, with mixed performance due to tightening budgets in biotech and pharma [44][45] - The company expects CRO demand to stabilize, with a return to normalized run rates in safety and assessment [45][52] Question: New Product Growth Potential - Electroporation and bioproduction segments are expected to grow at 20% or better, contributing 10% of current revenue [57] - Mesh MEA organoid platforms are expected to grow at a 50% to 100% CAGR, potentially adding 4-5 points of total compound growth to the business [58][59] Question: China Market Stability - The company sees signs of stabilization in China, particularly in academic research, but CRO and pharma spending remains weak [51][63] - The company expects China to stabilize and grow modestly, focusing on high-value, IP-protected products [63][66] Question: Mesh MEA Order and Shipment Lag - The company is ramping up production of Mesh MEA systems, with plans to increase biochip production tenfold by Q2 2025 [69][71] - Early adopters are showing strong interest, with potential for $1 million to $2 million in quarterly growth from these systems [68][71]

HOLLISTON, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) will announce its financial results for the quarter ended September 30, 2024 before the market opens on November 7, 2024, 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 ...

The Zacks Instruments - Scientific industry is suffering from challenging macroeconomic conditions. The continuing war in Ukraine and the conflict in the Middle East increase the risk of rising energy prices and sluggishness in the European economy, which are headwinds. However, increasing healthcare spending, driven by aging demography, and continued innovation in the pharma and life sciences end markets are positives. Higher demand for generic drugs and biosimilars is driving growth for scientific tool an ...

Core Insights - Harvard Bioscience, Inc. will showcase its latest product innovations at the Safety Pharmacology Society Annual Meeting from September 22-25, 2024, in San Diego [1] Product Innovations - The DSI™ Ponemah™ Data Management Platform integrates with DSI's SoHo™ implantable telemetry and VivaMARS™ behavior monitoring systems, providing a leading tool for managing and analyzing preclinical study data [2] - The SoHo™ telemetry system, introduced earlier this year, is now utilized by leading preclinical researchers for their testing needs [3] - The SoHo telemetry solution's small footprint allows for high-density studies in natural shared housing environments, reducing space needs and operating costs while increasing testing throughput [4] - The VivaMARS™ system offers a high-throughput platform for real-time behavioral testing in neuropharmacology safety and toxicology studies, supporting the needs of CROs and pharma companies [6] - The Mesh MEA™ organoid platform captures precise electrophysiology measurements from living organoids in real time, aimed at reducing the need for large population small model testing [8][9] Market Position and Future Outlook - Jim Green, Chairman and CEO of Harvard Bioscience, highlighted the commercial success of the wireless telemetry line and the collaboration with a leading customer to present data with the VivaMARS system [10] - The company is expanding its Mesh MEA Organoid Systems with installations at leading biotech, pharma, and CRO companies, as well as top academic institutions [10] - The company will exhibit its solutions at booth 501 during the Safety Pharmacology Society Annual Meeting [11]

HOLLISTON, Mass., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) today announced that Jim Green, Chairman and Chief Executive Officer, and Jennifer Cote, Chief Financial Officer, will be participating in the Sidoti Small Cap Virtual Conference on September 18th, 2024, with a presentation time of 9:15 am ET. The presentation will be webcast live and can be accessed through the investor relations section of the Harvard Bioscience website: https://investor.harvardbioscience.com/even ...

Financial Data and Key Metrics Changes - Revenue in Q2 2024 was $23.1 million, down $5.7 million from the previous year [5] - Gross margin was 57.2%, a decrease from 58% in Q2 last year, primarily due to lower absorption of fixed manufacturing costs [9][10] - Adjusted EBITDA decreased from $3.9 million last year to $1.3 million this year [10] - Operating loss on a GAAP basis was reported at $2.1 million, while adjusted operating profit was $800,000, or 3.5% of revenue [6][11] Business Line Data and Key Metrics Changes - Revenue from the Americas was down 12% year-over-year and 3% sequentially [7] - Preclinical sales declined compared to the prior year and sequentially [7] - Cellular and Molecular products saw a slight decline of 5% year-over-year but showed sequential growth of 9% compared to Q1 2024 [7] - In Europe, revenue was down 29% year-over-year but flat sequentially [8] - APAC revenue decreased by 22% year-over-year and 16% sequentially, with preclinical sales continuing to decline [8] Market Data and Key Metrics Changes - The market environment has been challenging, with slower sales to China and Asia Pacific continuing [5] - Capital spending by CRO and biopharma customers in Europe and the U.S. has been reduced, impacting preclinical product shipments [5] - The academic market in Asia is showing signs of recovery, with increased quoting activity [24][46] Company Strategy and Development Direction - The company is focusing on new product initiatives and operating cost structure improvements to support long-term double-digit revenue growth [6][14] - New product revenue streams from bioproduction and MEA Organoid applications are expected to begin in the second half of the year [14] - The company aims to leverage established technologies for high-growth applications with significant consumable and recurring revenues [14][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a tough first half of the year and a challenging Q2, but expressed optimism about market recovery in the second half [5][21] - The full-year 2024 revenue outlook has been reduced to approximately $97 million to $102 million, with expectations for sequential growth supported by new product shipments [21] - Management expects gross margin for the full year to be around 59% to 60% despite lower expected revenue [21] Other Important Information - The company realized approximately $700,000 in savings from operational efficiency actions during Q2, with expected annual run rate savings of about $4 million [10][50] - Recurring revenue has increased from a little above 35% to closer to 40% due to pressure on capital purchases [48] Q&A Session Summary Question: What is the total APAC exposure as a percent of revenue? - Historically, Asia Pacific has been about 25% of total revenue, predominantly from China [23] Question: What is the outlook for APAC? - Management believes they have reached the bottom in APAC, with growing funnels and early indications of recovery [24] Question: Are orders being received for new products? - The company has started receiving orders for new products introduced at the end of last year, with expectations for revenue growth in the second half [25][27] Question: What growth is expected if the market grows at 5%? - The company expects to achieve low double-digit growth driven by new product development, independent of market growth [33] Question: Can you elaborate on the organoid marketing strategy? - The strategy includes leveraging academic research and publications to build credibility and market presence, targeting both academic and biopharma customers [39][41]

Core Viewpoint - Harvard Bioscience, Inc. reported a challenging second quarter in 2024, with revenues declining and a net loss widening, while the company remains optimistic about long-term growth prospects from new products despite a delayed market recovery [2][4][8]. Financial Results Summary - For Q2 2024, revenues were $23.1 million, down from $28.8 million in Q2 2023, representing a decrease of approximately 19% [4][19]. - Gross margin for Q2 2024 was 57.2%, compared to 58.0% in Q2 2023, with gross profit falling to $13.2 million from $16.7 million [4][5]. - The net loss for Q2 2024 was $(2.9) million, compared to a net loss of $(1.0) million in Q2 2023 [5][20]. - Adjusted EBITDA for Q2 2024 was $1.3 million, down from $3.9 million in the same period last year [5][24]. Six-Month Results - For the six months ended June 30, 2024, revenues totaled $47.6 million, down from $58.7 million in the same period of 2023 [6][19]. - Gross margin for the first half of 2024 was 58.8%, compared to 59.6% in the prior year, with gross profit decreasing to $28.0 million from $35.0 million [6][7]. - The net loss for the first half of 2024 was $(7.6) million, compared to a net loss of $(0.4) million in the same period of 2023 [7][20]. - Adjusted EBITDA for the first half of 2024 was $2.9 million, down from $8.7 million in the same period last year [7][24]. 2024 Guidance - The company has reduced its full-year 2024 revenue outlook to approximately $97 million to $102 million, with expected gross margin of 59% to 60% and adjusted EBITDA margin in the high single digits [8].