Harvard Bioscience(US:HBIO) Globenewswire·2025-05-12 11:00Core Insights - The company reported first quarter revenues of $21.8 million, a decrease from $24.5 million in the same quarter of 2024, reflecting typical seasonal trends and uncertainties related to NIH funding and tariffs, particularly concerning sales to China [2][3] - The company experienced a significant net loss of $(50.3) million in Q1 2025, which included a goodwill impairment of $(48.0) million, compared to a net loss of $(4.7) million in Q1 2024 [3][21] - Adjusted EBITDA for the first quarter of 2025 was $0.8 million, down from $1.6 million in the prior year, while cash provided by operations increased to $3.0 million from $1.4 million [3][20] Financial Performance - Revenues for Q1 2025 were $21.8 million, down 11% from $24.5 million in Q1 2024 [2] - Gross margin decreased to 56.0% in Q1 2025 from 60.3% in Q1 2024 [2] - The company expects Q2 2025 revenues to be between $18 million and $20 million, with a gross margin in the range of 55% to 57% [4] Operational Highlights - The company is encouraged by the adoption of its MeshMEA™ organoid systems and the market reception of its SoHo™ telemetry systems [1] - Cost reduction actions are anticipated to yield operating cost reductions of approximately $1 million per quarter starting in Q2 2025 [1] Cash Flow and Balance Sheet - Cash and cash equivalents increased to $5.5 million as of March 31, 2025, compared to $4.1 million at the end of 2024 [18][20] - The company reported total assets of $79.8 million and total liabilities of $65.0 million as of March 31, 2025 [18][19]