GlobeNewswire·Nov 10, 2026, 7:00 AM ET

Harvard Bioscience Announces Third Quarter 2026 Financial Results

HBIO

Harvard Bioscience reported third quarter 2026 revenue of $22.2 million, representing an 8% year-over-year increase from $20.6 million in the prior year period.
Full year 2026 revenue guidance was reaffirmed at 3% to 5% year-over-year growth.
Third quarter gross profit was $12.3 million with a gross margin of 55.4%, compared to $12.0 million and 58.4% respectively in the prior year.
Adjusted gross profit for the third quarter reached $12.7 million with an adjusted gross margin of 57.1%.
Net loss for the third quarter was $(2.6) million, an increase from $(1.2) million in the same period of 2025.
Adjusted EBITDA for the third quarter was $1.8 million, down from $2.0 million in the prior year.
Cash used in operations for the third quarter was $(0.2) million, compared to $1.0 million provided in the prior year.
For the nine months ended September 30, 2026, revenue totaled $65.7 million, up from $62.8 million in the prior year.
Net loss for the nine months ended September 30, 2026, was $(9.0) million, significantly lower than the $(53.9) million loss in the prior year due to a $48.0 million goodwill impairment in Q1 2025.
Adjusted EBITDA for the nine months ended September 30, 2026, was $4.2 million, compared to $4.3 million in the prior year.
Cash used in operations for the nine months ended September 30, 2026, was $(0.6) million, compared to $6.8 million provided in the prior year.
Fourth quarter 2026 revenue is expected to be between $23.7 million and $25.5 million.
Full year 2026 adjusted gross margin guidance is 57% to 59%, with adjusted EBITDA growth expected between (1%) and 4%.
CEO John Duke highlighted double-digit revenue growth to CROs and customers in China, driven by sales of organoid, respiratory, & fluidics products.
Project Viking remains on track for completion by the end of the first quarter in 2027.
The company cited a 1-for-10 reverse stock split effective March 13, 2026, as a factor in retroactively presented share data.

Company: Harvard Bioscience, Inc.
Keywords: Nasdaq:HBIO, Harvard Bioscience, Inc.