FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-33957 ___________________________ HARVARD BIOSCIENCE, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction o ...

Harvard Bioscience, Inc. (NASDAQ:HBIO) Q4 2022 Earnings Call Transcript March 9, 2023 8:00 AM ET Company Participants Dave Sirois - Director, Corporate Accounting & SEC Reporting Jim Green - Chairman of the Board, President & Chief Executive Officer Jennifer Cote - Interim Chief Financial Officer Conference Call Participants Bruce Jackson - Benchmark Company Harrison Schrage - KeyBanc Operator Good day, and thank you for standing by. Welcome to the Harvard Bioscience Fourth Quarter 2022 Earnings Conference ...

Financial Performance - Q4 2022 revenue was $28.4 million, a 14% decrease compared to $33.1 million in Q4 2021[22, 27] - The company expects to reduce debt leverage to approximately 2x level by the end of 2023[7] - Adjusted Gross Margin was 57% of revenue in Q4 2022, compared to 60% in Q4 2021[22] - Adjusted EBITDA was $3.7 million in Q4 2022, representing 13% of revenue, compared to $5.7 million and 17% in Q4 2021[22] - Adjusted EPS was $0.04 in Q4 2022, compared to $0.08 in Q4 2021[22] - Cash flow from operations was $2.7 million in Q4 2022, compared to $0.1 million in Q4 2021[22] Product Revenue - Cellular & Molecular product revenue was $14.7 million in Q4 2022, a 2% decrease compared to $14.9 million in Q4 2021[27] - Pre-Clinical revenue was $14.8 million in Q4 2022, a 19% decrease compared to $18.2 million in Q4 2021[27] Outlook - The company anticipates low-to-mid single digit revenue growth in 2023, which includes an approximate 4 percentage points impact from discontinued products[31]

HBIO Overview to Investors NASDAQ: HBIO Q3'22 Earnings Presentation Jim Green, Chairman, President & CEO Mike Rossi, CFO November 8, 2022 HB Forward-Looking Statements and Non-GAAP Financial Information Forward-Looking Statements Information in this presentation or in oral statements of the management of the Company may include forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. You can identify these statements by our ...

Harvard Bioscience, Inc. (NASDAQ:HBIO) Q3 2022 Earnings Conference Call November 8, 2022 4:30 PM ET Company Participants David Sirois - Director, Corporate Accounting & SEC Reporting James Green - President, CEO & Chairman Michael Rossi - CFO Conference Call Participants Paul Knight - KeyBanc Capital Markets Bruce Jackson - The Benchmark Company Operator Good day, and thank you for standing by. Welcome to the Harvard Bioscience Third Quarter 2022 Earnings Call. [Operator Instructions]. Please be advised tha ...

Harvard Bioscience, Inc. (NASDAQ:HBIO) Q2 2022 Earnings Conference Call August 4, 2022 8:00 AM ET Company Participants David Sirois - Director of Corporate Accounting & SEC Reporting Jim Green - President & Chief Executive Officer Mike Rossi - Chief Financial Officer Conference Call Participants Bruce Jackson - The Benchmark Company Paul Knight - KeyBanc Capital Markets Operator Good day, and thank you for standing by. Welcome to the Q2 2022 Harvard Bioscience, Inc. Earnings Conference Call. [Operator Instr ...

NASDAQ: HBIO Q2'22 Earnings Presentation Jim Green, Chairman, President & CEO Mike Rossi, CFO August 4, 2022 Forward-Looking Statements and Non-GAAP Financial Information Forward-Looking Statements Information in this presentation or in oral statements of the management of the Company may include forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. You can identify these statements by our use of such words as "will," "g ...

NASDAQ: HBIO Q1'22 Earnings Presentation Jim Green, Chairman, President & CEO Mike Rossi, CFO May 4, 2022 Forward-Looking Statements and Non-GAAP Financial Information Forward-Looking Statements Information in this presentation or in oral statements of the management of the Company may include forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. You can identify these statements by our use of such words as "will," "guid ...

Financial Data and Key Metrics Changes - Revenue increased by 7% year-over-year, reaching $28.8 million, with pre-clinical revenue up 10% and Cellular Molecular Technology (CMT) revenue up 7% [5][8] - Adjusted operating margin decreased to 8% from 12% in the previous year, impacted by shipment delays, inflation, and growth investments [5][8] - Gross margin remained flat at 57%, with a GAAP gross margin of 56.2%, up 100 basis points from last year despite higher costs [6][8] - GAAP operating income was negative $6.7 million, including a $5 million charge related to litigation settlement, while adjusted operating income was $2.4 million [8][19] - Adjusted earnings per share was $0.04, down $0.01 from the prior year, and GAAP earnings per share reflected a loss of $0.17 [8] Business Line Data and Key Metrics Changes - Cellular and Molecular Technology revenue was impacted by shipment delays due to lockdowns in China, but order intake from North America remained strong [9][10] - Pre-clinical product revenue increased by 10%, although it faced similar shipment delays in China [10] - Currency fluctuations negatively impacted revenue by approximately $0.5 million [10] Market Data and Key Metrics Changes - Asia accounted for about 20% of total revenue, primarily from China, which is expected to recover in the second half of the year [28][29] - European orders were delayed due to COVID lockdowns but have started to recover [9] Company Strategy and Development Direction - The company aims for profitable double-digit growth and is focusing on integrating brands and products to address market needs [12][14] - Plans to prune low-quality non-strategic product sales are in place, with expectations of improving product mix and leveraging the business platform [24][39] - Continued investment in research and development is expected to drive future growth, with adjusted operating margins projected to improve to 14% to 16% [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in recovering order intake from China and anticipates a strong second half of the year [30][31] - The company expects year-over-year revenue growth in the range of 8% to 13% and gross margins to improve to 58% to 59% [23][25] - Management acknowledged ongoing supply chain challenges but emphasized efforts to mitigate costs and improve operational efficiency [16][18] Other Important Information - The company recorded a $5 million charge related to a litigation settlement, with cash outflows expected primarily in Q2 2022 [19] - Capital expenditures for 2022 are projected to be approximately $2 million, with $500,000 spent in Q1 [20] Q&A Session Summary Question: What percentage of company revenue comes from China? - Management clarified that approximately 20% of revenue is derived from Asia, with most of that from China [28][29] Question: If China recovers, what impact would that have on revenue guidance? - Management indicated that recovery in China could lead to achieving the upper end of revenue guidance, as delays are expected to convert into orders [30][31] Question: Is the target for 60% adjusted gross profit margins still achievable this year? - Management expressed confidence in reaching around 60% gross profit margins by the end of the year, despite challenges in Q1 [37] Question: How quickly can low-quality products be removed from the portfolio? - Management expects to see significant pruning of low-quality products in the second half of the year, with a focus on replacing them with more strategic offerings [39] Question: Are there any new products in the pipeline? - Management confirmed ongoing product development, with around 15 new products introduced in recent years, including upgrades to respiratory products [42][44]

Harvard Bioscience, Inc. (NASDAQ:HBIO) Q4 2021 Earnings Conference Call March 8, 2022 8:00 AM ET Company Participants David Sirois - Director of Corporate Accounting & SEC Reporting James Green - President & Chief Executive Officer Michael Rossi - Chief Financial Officer Conference Call Participants Paul Knight - KeyBanc Tim Chiang - Northland Securities Lisa Springer - Singular Research Bruce Jackson - Benchmark Operator Good morning and thank you for standing by. Welcome to the Fourth Quarter 2021 Harvard ...