Harvard Bioscience Stock Earnings Reports

Harvard Bioscience reported Q1 2026 revenue of $20.8M (in line with guidance), adjusted gross margin of 59% (up ~300 bps YoY) and adjusted EBITDA of $0.8M (flat YoY). Management emphasized the company’s strategic shift into translational science, driven by its New Product Innovation (NPI) portfolio—Mesh MEA (organoids), BTX (electroporation/transfection) and SoHo Telemetry—which now comprise ~15–20% of revenue and are expected to deliver double‑digit revenue growth for the year. Sales to pharma/biotech customers grew >20% YoY, NPI revenue increased to >12% of total revenue (from ~4% a year ago), and China revenue grew 3% (with a 'Made in China' initiative beginning with BTX). Project Viking (manufacturing consolidation) remains on track and is expected to deliver roughly $3M of savings in 2027 and ~$4M annually thereafter. Q2 guidance: revenue $20.5M–$22.5M, adjusted gross margin 57%–59%, adjusted EBITDA $1M–$2M (midpoint implies ~5% revenue growth and +160 bps margin). Full-year 2026 guidance was reaffirmed: revenue growth 2%–4%, gross margin 58%–60%, adjusted EBITDA growth 6%–10%. The company reinstated bonuses and increased sales/marketing investment to support growth. Cash used in operations was $0.7M (higher inventory for lead-time support and Project Viking prebuilds); net debt increased modestly due to deferred financing costs tied to the December 2025 credit facility. Management remains focused on margin expansion, recurring revenue growth (targeting recurring revenue approaching 60%), and scaling translational science platforms to drive long-term shareholder value.