Harvard Bioscience(US:HBIO)2022-11-13 01:55Q3 2022 Performance - Revenue was $26.9 million, a decrease of 9% compared to Q3 2021, which includes a currency impact of -$1.0 million[5, 11] - Pre-Clinical revenue decreased by 17% due to lower EMEA CRO/pharma sales and APAC challenges [6] - Adjusted Operating Margin was 2.6%, significantly lower than the 13.3% in Q3 2021 [5] - Adjusted Gross Margin was 50.6%, down from 55.5% in Q3 2021, impacted by inflation and lower absorption [12] - Cash flow from operations was $0.6 million in Q3 2022 [11] Financial Position - Net debt decreased by $0.2 million in Q3 2022 [11] - Leverage ratio (Debt-to-TTM Adj EBITDA) was 3.9x at the end of Q3 2022 [11, 13] 2022 Outlook - The company expects Q4 2022 revenue to be in the $30 million range [15] - The company anticipates full-year 2022 revenue to be approximately $115 million, with a gross margin of 55% to 56% and an operating margin of 9% to 10% [15] - The company aims for gross margins in the 58% to 60% range and Adjusted EBITDA margins in the high teens [5, 15]