Harvard Bioscience Q4 revenue falls 3%, reports net loss

Overview

• US life science tools maker's Q4 revenue declined yr/yr to $23.7 mln

• Company reported net loss of $2.8 mln compared to net income of $18,000 last year, due to higher other expenses

• Mark Frost appointed CFO on permanent basis; 2026 guidance expects revenue growth from new products

Outlook

• Harvard Bioscience sees Q1 2026 revenue between $20 mln and $22 mln

• Company expects Q1 2026 adjusted gross margin between 57% and 59%

• Harvard Bioscience sees 2026 revenue growth of 2%-4%

Result Drivers

• COST CONTAINMENT - Co said Q4 gross margin improvement of 2.6 percentage points was mostly due to cost containment actions and favorable product mix

• REDUCED CUSTOMER SPENDING - Co said full-yr revenue decline was due to a challenging global market and reduced spending by CROs, distributors and academic research institutions

• MANUFACTURING OVERHEAD - Co said full-yr gross margin was unfavorably impacted by under-absorption of fixed manufacturing overhead costs, partially offset by lower labor costs and higher margin products

Company press release: ID:nGNX4m21Dz

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

• Wall Street's median 12-month price target for Harvard Bioscience Inc is $2.00, about 294.4% above its March 11 closing price of $0.51

• The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 9 three months ago

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