Harvard Bioscience(HBIO) - 2021 Q3 - Earnings Call Presentation

Q3 2021 Performance Highlights - Revenue reached $29.7 million, a 23% increase compared to Q3 2020 and an 8% increase compared to pre-COVID levels in Q3 2019 [5, 6, 11] - Pre-Clinical product line revenue increased by 28% due to strong global demand [5, 11] - Cellular & Molecular product line revenue increased by 19% as academic labs continued to recover from lockdowns [5, 11] - Adjusted Operating Income was $3.9 million with an Adjusted Operating Margin of 13.3% [6, 14] Financial Details - Gross Margin was 55%, a decrease of 110 bps compared to Q3 2020 [6, 19] - Adjusted Gross Profit was $16.4 million with an Adjusted Gross Margin of 55.5% [14] - Adjusted Operating Expenses were $12.5 million, representing 42.1% of revenue [14] - Net Debt decreased from 41.6 million in Q3'20 to 40.9 million in Q3'21 [13] Outlook - The company increased its revenue growth outlook for 2021 to 15-17% [16] - The company expects to maintain mid-teens Adjusted Operating Margins [16]