8-K
filed November 7, 2023, 6:59 PM ET
ticker HBIO
CIK 0001123494
earnings
confidence high
sentiment neutral
materiality 0.65
Harvard Bioscience Q3 revenue $25.4M (-6% YoY); adjusted EBITDA margin 8.9%
HARVARD BIOSCIENCE INC
2023-Q3 EPS reported
-$0.04
revenue$84,097,000
- Q3 2023 revenues $25.4M vs $26.9M prior year; gross margin improved to 58.1% from 45.2%.
- GAAP net loss $1.2M ($0.03/share); adjusted EPS $0.01; adjusted EBITDA $2.2M (8.9% margin).
- Operating cash flow $4.4M; debt reduced $2.8M in Q3, total debt $38.7M.
- Updated FY2023 guidance: revenue approx flat YoY, gross margin ~60%, adjusted EBITDA margin 13%-14%.
- Asia headwinds and $1.3M revenue impact from discontinued products; North America revenue grew.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
HARVARD BIOSCIENCE INC reported the third quarter ended September 30, 2023 results: revenue $25.4 million, net income ($1.2) million, EPS $(0.03).
- Period
- the third quarter ended September 30, 2023
- Revenue
- $25.4 million
- Net income
- ($1.2) million
- EPS
- $(0.03)
- 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 Third Quarter 2023 Financial Results · Q3 Revenues of $25.4 million · Q3 Gross Margin of 58.1% · Q3 GAAP operating loss of $0.9 million, adjusted operating income $1.8 million · Continued strong operating cash flow drove debt reduction of $8.3
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
HARVARD BIOSCIENCE INC updated its fiscal 2023 guidance (reaffirmed).
- Period
- fiscal 2023
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
we now expect our fiscal 2023 revenue to be approximately flat as compared to 2022. Expected 2023 revenue includes an approximately 5 percentage point headwind from discontinued products. For the year 2023, we continue to expect gross margins of approximately 60%. We now expect adjusted EBITDA margins in the 13% to 14% range.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
HARVARD BIOSCIENCE INC reported the nine months ended September 30, 2023 results: revenue $84.1 million, net income ($1.6) million, EPS $(0.04).
- Period
- the nine months ended September 30, 2023
- Revenue
- $84.1 million
- Net income
- ($1.6) million
- EPS
- $(0.04)
- Result
- reported results
Exact text from the filing
debt was reduced by $3.8 million during the third quarter of 2023. Nine Months ended September 30, 2023 Highlights For the nine months ended September 30, 2023, revenues were $84.1 million, compared to $84.9 million in the same period a year ago. Revenues for the nine months ended September 30, 2023 include a net reduction of $4.1 million from discontinued products
View on SEC.gov
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