Harvard Bioscience(US:HBIO) Globenewswireยท2025-08-11 11:00Core Insights - Harvard Bioscience, Inc. reported financial results for Q2 and the first half of 2025, highlighting a revenue decline but improved operational cash flow and a strategic focus on restructuring and growth [1][2][3][4]. Financial Performance - For Q2 2025, revenues were $20.5 million, down from $23.1 million in Q2 2024, with a gross margin of 56.4%, slightly lower than 57.2% in the previous year [3][4]. - The net loss for Q2 2025 was $2.3 million, an improvement from a net loss of $2.9 million in Q2 2024, while adjusted EBITDA increased to $1.5 million from $1.3 million [4][8]. - For the first half of 2025, revenues totaled $42.2 million, down from $47.6 million in the same period of 2024, with a gross margin of 56.2%, compared to 58.8% previously [7][8]. Cash Flow and Operations - Cash provided by operations was $2.8 million in Q2 2025, a significant improvement from a negative cash flow of $0.8 million in Q2 2024 [4]. - For the first half of 2025, cash provided by operations was $5.7 million, compared to $0.6 million in the same period of 2024 [8]. Credit Agreement and Restructuring - The company amended its credit agreement, with lenders waiving certain defaults and agreeing not to test financial covenants for Q3 2025, contingent on compliance with payment obligations [5][6]. - The company is required to take steps towards refinancing or repaying the credit agreement by December 5, 2025 [6]. Future Guidance - The company anticipates Q3 2025 revenues between $19 million and $21 million, with a gross margin expected in the range of 56% to 58% [9].