Harvard Bioscience(US:HBIO) Globenewswire·2025-11-06 12:00Core Insights - Harvard Bioscience, Inc. reported third-quarter 2025 revenues of $20.6 million, a decrease from $22.0 million in the same quarter of 2024, but with a gross margin improvement to 58.4% from 58.1% year-over-year [3][4] - The company experienced a net loss of $1.2 million in Q3 2025, significantly reduced from a net loss of $4.8 million in Q3 2024, which included a non-cash charge related to a pension settlement [4] - Adjusted EBITDA for Q3 2025 was $2.0 million, up from $1.3 million in Q3 2024, indicating improved operational performance [4][10] - The company anticipates fourth-quarter 2025 revenues between $22.5 million and $24.5 million, reflecting increased demand and a growing backlog [8][10] Financial Performance - For the nine months ended September 30, 2025, revenues totaled $62.8 million, down from $69.6 million in the same period of 2024, with a gross margin of 56.9%, down from 58.6% [6] - The net loss for the nine months was $53.8 million, compared to a net loss of $12.4 million in the prior year, primarily due to a goodwill impairment of $48.0 million in Q1 2025 [7] - Cash provided by operations for the nine months was $6.8 million, a significant improvement from a cash outflow of $0.3 million in the same period of 2024 [7] Operational Updates - The company is actively negotiating with lenders regarding its credit agreement, aiming for refinancing or repayment in Q4 2025 [5] - Customer engagement has led to the highest backlog level in nearly two years and four consecutive months of order growth, indicating a positive trend in demand [2][10] Guidance - The company expects Q4 2025 revenues to be in the range of $22.5 million to $24.5 million, with gross margins projected between 58% and 60% [8][10]