Harvard Bioscience Q1 revenue $30M (+4% YoY); net income $0.6M vs $6.9M loss; adj EBITDA margin 16%

HARVARD BIOSCIENCE INC

2023-Q1 EPS reported $0.01 revenue$29,975,000

Q1 revenues $30.0M, up 4% from $28.8M in Q1'22; gross margin improved to 61% from 56%.
GAAP net income $0.6M ($0.01 diluted EPS) vs net loss of $6.9M ($0.17 loss) in Q1'22.
Adjusted EBITDA $4.8M (16% margin) vs $2.7M (9% margin) in prior year.
Paid down debt by $2.8M; net debt $41.0M; targeting net leverage ~2x by year-end.
Full-year 2023 guidance: mid-single digit revenue growth, gross margins ~60%, adjusted EBITDA margins 16-17%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HARVARD BIOSCIENCE INC reported first quarter ended March 31, 2023 results: revenue $30.0 million, net income $0.6 million, EPS $0.01. Guidance initiated.

Period: first quarter ended March 31, 2023
Revenue: $30.0 million
Net income: $0.6 million
EPS: $0.01
Guidance: initiated
Result: reported results

Exact text from the filing

a filing. --- EX-99.1 (EXHIBIT 99.1) --- EX-99.1 2 exh_991.htm EXHIBIT 99.1 Exhibit 99.1 Harvard Bioscience Announces First Quarter 2023 Financial Results • Q1 Revenues of $30 million up 4% over prior year period • Q1 GAAP Operating Income of $1.7 million up from a loss of $6.7 million prior year • Q1 Adjusted Operating Income of $4.4 million up from $2.4

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Source: SEC EDGAR

accession 0001171843-23-002499

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