UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from_____to _____ (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Commission file number 001-33957 HARVARD BIOSCIE ...

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]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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, 2021 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. (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction o ...

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 ...

NASDAQ: HBIO Q4'21 Earnings Presentation Jim Green, Chairman, President & CEO Mike Rossi, CFO March 8, 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," "gu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021 ☐ 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. (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of (I.R.S. Empl ...

NASDAQ: HBIO Q3'21 Earnings Presentation Jim Green, Chairman, President & CEO Mike Rossi, CFO November 3, 2021 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," ...

Harvard Bioscience, Inc. (NASDAQ:HBIO) Q3 2021 Earnings Conference Call November 3, 2021 8:00 AM ET Company Participants David Sirois - Director, Corporate Accounting & SEC Reporting James Green - President, CEO & Chairman Michael Rossi - CFO Conference Call Participants Lisa Springer - Singular Research Paul Knight - KeyBanc Capital Markets Timothy Chiang - Northland Capital Markets Bruce Jackson - The Benchmark Company Ailon Grushkin - Nano-Cap Growth Operator Good day, and thank you for standing by. Welc ...

NASDAQ: HBIO Q2'21 Earnings Presentation Jim Green, Chairman, President & CEO Mike Rossi, CFO August 5, 2021 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 ...

Financial Data and Key Metrics Changes - Revenue increased by 25% compared to Q2 2020, reaching $29.2 million, returning to pre-COVID levels [8][11] - Gross margin was 56%, down 340 basis points from the previous year due to increased costs from global supply chain issues [11][12] - Adjusted operating income was $4.3 million, with an adjusted operating margin of 14.6% [12] - GAAP earnings per share improved to negative $0.01 from negative $0.04 last year, while adjusted earnings per share rose to $0.06 from $0.05 [12] Business Line Data and Key Metrics Changes - Cellular and molecular product revenue grew by 22%, driven by strong order and backlog growth, despite shipment delays [13] - Preclinical product revenue increased by 20%, supported by strong demand from CROs, pharma, and academic labs [14] - Sales in the Americas rose by 28%, while Europe saw a 32% increase, indicating strong academic lab demand [15] Market Data and Key Metrics Changes - European labs are recovering, although slowly, with expectations for improved demand as the year progresses [15][46] - Overall reported revenue grew by 25%, with a 21% increase on a currency-adjusted basis [15] Company Strategy and Development Direction - The company aims to focus on organic sales growth and new product introductions while addressing COGS issues from supply chain disruptions [29][30] - There is an emphasis on improving sales effectiveness and marketing to drive revenue growth [29] - The company plans to continue portfolio rationalization to enhance revenue quality [33] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from global supply chain disruptions but expressed confidence in improving operational efficiencies and cost management [30][39] - The outlook for revenue growth has been raised to approximately 12% to 15% for the year, with expectations for continued gross margin expansion [31][34] - Management is optimistic about achieving sustained double-digit revenue growth in the future [49] Other Important Information - The company introduced 17 new products in the first half of the year, with a focus on preclinical and cellular product lines [17][68] - The restructuring program initiated in 2019 has resulted in $7 million of annualized cost savings [24] Q&A Session Summary Question: How fixable are the supply chain issues? - Management indicated that while some costs are expected to remain, improvements in supply chain management will help reduce costs over the next few quarters [37][39] Question: What products drove the 25% Q2 growth? - The preclinical DSI products and inhalation products were significant contributors to growth, despite some shipment constraints [41][42] Question: Will new product launches be delayed due to supply chain issues? - Some delays are anticipated, but new product introductions are expected to drive sustained revenue growth [53] Question: Is there an expected increase in demand from academic labs in the fall? - Management expects demand to increase as new budgets are allocated at the start of the academic year [55] Question: Will the backlog be worked through in the second half of the year? - Management does not expect to clear the entire backlog but anticipates getting closer to a normalized backlog by year-end [60][62] Question: What areas are the new products focused on? - Most new products are in the preclinical line, with significant investments in software systems and cellular testing capabilities [68][70]