Earnings Releases·Nov 10, 2026, 7:00 AM ET

Harvard Bioscience — Third Quarter 2026 Earnings Summary

Q3 2026 revenue rose 8% year-over-year to $22.2 million, while nine-month revenue increased to $65.7 million; however, net loss widened to $2.6 million in Q3 compared to $1.2 million in the prior year, and nine-month net loss narrowed to $9.0 million from $53.9 million due to a prior-year goodwill impairment.
The company reaffirmed full-year 2026 revenue growth guidance of 3% to 5% and adjusted EBITDA growth of (1%) to 4%, with Q4 revenue guidance set between $23.7 million and $25.5 million.
Gross margins contracted to 55.4% in Q3 from 58.4% in the prior year, driven by higher sales of lower-margin CMT products and shifts in channel mix, while cash used in operations turned negative for both the quarter and nine-month period.
Strategic initiatives remain on track with Project Viking expected to complete by Q1 2027, alongside double-digit growth in China and encouraging results from revamped sales and marketing teams.
Net debt increased to $35.1 million as of September 30, 2026, from $27.5 million in the prior year, and cash and cash equivalents declined to $4.9 million from $8.6 million at the end of 2025.