This page shows Harvard Biosci (HBIO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Harvard Biosci has an operating margin of -56.1%, meaning the company retains $-56 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -6.6% the prior year.
Harvard Biosci's revenue declined 8.1% year-over-year, from $94.1M to $86.5M. This contraction results in a growth score of 20/100.
Harvard Biosci has a moderate D/E ratio of 2.61. This balance of debt and equity financing earns a leverage score of 49/100.
Harvard Biosci's current ratio of 2.20 indicates adequate short-term liquidity, earning a score of 40/100. The company can meet its near-term obligations, though with limited headroom.
Harvard Biosci has a free cash flow margin of 6.3%, earning a moderate score of 41/100. The company generates positive cash flow after capital investments, but with room for improvement.
Harvard Biosci generates a -412.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -19.6% the prior year.
Harvard Biosci passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Harvard Biosci generates $-0.12 in operating cash flow ($6.7M OCF vs -$56.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Harvard Biosci earns $-13.5 in operating income for every $1 of interest expense (-$48.6M vs $3.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Harvard Biosci generated $86.5M in revenue in fiscal year 2025. This represents a decrease of 8.1% from the prior year.
Harvard Biosci's EBITDA was -$42.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 5652.5% from the prior year.
Harvard Biosci reported -$56.7M in net income in fiscal year 2025. This represents a decrease of 357.1% from the prior year.
Harvard Biosci earned $-1.28 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 357.1% from the prior year.
Cash & Balance Sheet
Harvard Biosci generated $5.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 554.4% from the prior year.
Harvard Biosci held $8.6M in cash against $35.9M in long-term debt as of fiscal year 2025.
Harvard Biosci had 45M shares outstanding in fiscal year 2025. This represents an increase of 1.5% from the prior year.
Margins & Returns
Harvard Biosci's gross margin was 57.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.
Harvard Biosci's operating margin was -56.1% in fiscal year 2025, reflecting core business profitability. This is down 49.5 percentage points from the prior year.
Harvard Biosci's net profit margin was -65.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 52.3 percentage points from the prior year.
Harvard Biosci's ROE was -412.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 393.3 percentage points from the prior year.
Capital Allocation
Harvard Biosci invested $8.8M in research and development in fiscal year 2025. This represents a decrease of 15.2% from the prior year.
Harvard Biosci invested $1.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 52.4% from the prior year.
HBIO Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $23.7M+15.3% | $20.6M+0.7% | $20.4M-6.1% | $21.8M-11.3% | $24.6M+11.8% | $22.0M-4.9% | $23.1M-5.8% | $24.5M |
| Cost of Revenue | $9.6M+11.6% | $8.6M-3.9% | $8.9M-7.0% | $9.6M-9.1% | $10.5M+14.6% | $9.2M-6.8% | $9.9M+1.4% | $9.7M |
| Gross Profit | $14.2M+17.9% | $12.0M+4.2% | $11.5M-5.3% | $12.2M-13.0% | $14.0M+9.8% | $12.8M-3.4% | $13.2M-10.5% | $14.8M |
| R&D Expenses | $2.2M+2.4% | $2.1M-2.6% | $2.2M-5.7% | $2.3M-0.3% | $2.3M-9.3% | $2.6M-2.2% | $2.6M-9.0% | $2.9M |
| SG&A Expenses | $4.1M-1.4% | $4.2M-2.0% | $4.3M-17.8% | $5.2M+8.0% | $4.8M-4.7% | $5.0M-11.3% | $5.7M-4.6% | $6.0M |
| Operating Income | $1.7M+768.0% | $197K+124.1% | -$819K+98.4% | -$49.7M-451627.3% | $11K+100.6% | -$1.9M+9.4% | -$2.1M+9.2% | -$2.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$357K-468.0% | $97K+246.4% | $28K+106.2% | -$454K-179.4% | $572K+83.9% | $311K+188.1% | -$353K-268.1% | $210K |
| Net Income | -$2.8M-131.3% | -$1.2M+46.1% | -$2.3M+95.5% | -$50.3M-279766.7% | $18K+100.4% | -$4.8M-64.1% | -$2.9M+37.6% | -$4.7M |
| EPS (Diluted) | N/A | $-0.03+40.0% | $-0.05+95.6% | $-1.14 | N/A | $-0.11-57.1% | $-0.07+36.4% | $-0.11 |
HBIO Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $80.1M+2.7% | $78.0M-2.6% | $80.1M+0.4% | $79.8M-37.0% | $126.6M-3.5% | $131.2M+1.8% | $128.9M-3.2% | $133.2M |
| Current Assets | $48.2M+10.1% | $43.8M-2.6% | $45.0M+0.1% | $44.9M-0.5% | $45.1M-3.6% | $46.8M+0.8% | $46.4M-3.6% | $48.1M |
| Cash & Equivalents | $8.6M+26.4% | $6.8M-8.4% | $7.4M+34.2% | $5.5M+35.0% | $4.1M-10.1% | $4.6M+12.9% | $4.0M-4.9% | $4.3M |
| Inventory | $20.8M-3.7% | $21.6M-2.9% | $22.3M-2.5% | $22.8M-1.8% | $23.2M-10.6% | $26.0M+3.4% | $25.1M+4.1% | $24.1M |
| Accounts Receivable | $16.0M+32.5% | $12.1M+1.4% | $11.9M-11.4% | $13.5M-9.3% | $14.9M+15.9% | $12.8M+2.8% | $12.5M-18.4% | $15.3M |
| Goodwill | $9.6M+0.4% | $9.5M-6.2% | $10.2M+13.3% | $9.0M-84.1% | $56.3M-1.9% | $57.4M+1.4% | $56.6M-0.1% | $56.7M |
| Total Liabilities | $66.3M+3.8% | $63.9M-0.7% | $64.4M-0.9% | $65.0M+2.6% | $63.3M-4.0% | $65.9M+6.9% | $61.7M-4.2% | $64.3M |
| Current Liabilities | $22.0M-59.6% | $54.4M-1.5% | $55.2M-0.7% | $55.6M+1.2% | $55.0M+141.6% | $22.8M+0.6% | $22.6M-11.9% | $25.7M |
| Long-Term Debt | $35.9M+5.6% | $34.0M-2.7% | $34.9M-4.1% | $36.4M | $0-100.0% | $34.3M+7.2% | $32.0M+0.2% | $31.9M |
| Total Equity | $13.7M-2.4% | $14.1M-10.6% | $15.7M+6.1% | $14.8M-76.6% | $63.3M-3.0% | $65.3M-2.9% | $67.2M-2.3% | $68.8M |
| Retained Earnings | -$214.7M-1.3% | -$211.9M-0.6% | -$210.6M-1.1% | -$208.3M-31.9% | -$158.0M0.0% | -$158.0M-3.1% | -$153.2M-1.9% | -$150.3M |
HBIO Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$96K-108.9% | $1.1M-60.7% | $2.8M-7.7% | $3.0M+73.1% | $1.7M+304.9% | -$842K+0.5% | -$846K-160.3% | $1.4M |
| Capital Expenditures | $449K+116.9% | $207K+132.6% | $89K-82.7% | $513K+70.4% | $301K-65.8% | $880K+7.6% | $818K+26.8% | $645K |
| Free Cash Flow | -$545K-162.1% | $877K-67.1% | $2.7M+7.8% | $2.5M+73.7% | $1.4M+182.7% | -$1.7M-3.5% | -$1.7M-319.5% | $758K |
| Investing Cash Flow | -$599K-72.1% | -$348K-49.4% | -$233K+65.9% | -$683K-46.6% | -$466K+58.1% | -$1.1M-342.6% | $458K+303.6% | -$225K |
| Financing Cash Flow | $2.4M+291.6% | -$1.3M-1.6% | -$1.3M-4.5% | -$1.2M+11.3% | -$1.4M-164.5% | $2.1M+1088.7% | $177K+116.8% | -$1.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HBIO Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.7%+1.3pp | 58.4%+2.0pp | 56.4%+0.4pp | 56.0%-1.1pp | 57.1%-1.0pp | 58.1%+0.9pp | 57.2%-3.0pp | 60.3% |
| Operating Margin | 7.2%+6.2pp | 1.0%+5.0pp | -4.0%+224.1pp | -228.1%-228.1pp | 0.0%+8.6pp | -8.5%+0.4pp | -9.0%+0.3pp | -9.3% |
| Net Margin | -12.0%-6.0pp | -6.0%+5.2pp | -11.2%+220.0pp | -231.2%-231.3pp | 0.1%+21.9pp | -21.9%-9.2pp | -12.7%+6.5pp | -19.1% |
| Return on Equity | -20.7%-12.0pp | -8.8%+5.8pp | -14.5%+324.8pp | -339.3%-339.4pp | 0.0%+7.4pp | -7.3%-3.0pp | -4.3%+2.5pp | -6.8% |
| Return on Assets | -3.6%-2.0pp | -1.6%+1.3pp | -2.9%+60.2pp | -63.1%-63.1pp | 0.0%+3.7pp | -3.7%-1.4pp | -2.3%+1.3pp | -3.5% |
| Current Ratio | 2.20+1.4 | 0.810.0 | 0.810.0 | 0.81-0.0 | 0.82-1.2 | 2.060.0 | 2.05+0.2 | 1.88 |
| Debt-to-Equity | 2.61+0.2 | 2.41+0.2 | 2.22-0.2 | 2.45+2.5 | 0.00-0.5 | 0.52+0.0 | 0.48+0.0 | 0.46 |
| FCF Margin | -2.3%-6.6pp | 4.3%-8.8pp | 13.0%+1.7pp | 11.4%+5.6pp | 5.8%+13.6pp | -7.8%-0.6pp | -7.2%-10.3pp | 3.1% |
Similar Companies
Frequently Asked Questions
What is Harvard Biosci's annual revenue?
Harvard Biosci (HBIO) reported $86.5M in total revenue for fiscal year 2025. This represents a -8.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Harvard Biosci's revenue growing?
Harvard Biosci (HBIO) revenue declined by 8.1% year-over-year, from $94.1M to $86.5M in fiscal year 2025.
Is Harvard Biosci profitable?
No, Harvard Biosci (HBIO) reported a net income of -$56.7M in fiscal year 2025, with a net profit margin of -65.5%.
What is Harvard Biosci's EBITDA?
Harvard Biosci (HBIO) had EBITDA of -$42.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Harvard Biosci have?
As of fiscal year 2025, Harvard Biosci (HBIO) had $8.6M in cash and equivalents against $35.9M in long-term debt.
What is Harvard Biosci's gross margin?
Harvard Biosci (HBIO) had a gross margin of 57.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Harvard Biosci's operating margin?
Harvard Biosci (HBIO) had an operating margin of -56.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Harvard Biosci's net profit margin?
Harvard Biosci (HBIO) had a net profit margin of -65.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Harvard Biosci's return on equity (ROE)?
Harvard Biosci (HBIO) has a return on equity of -412.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Harvard Biosci's free cash flow?
Harvard Biosci (HBIO) generated $5.5M in free cash flow during fiscal year 2025. This represents a 554.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Harvard Biosci's operating cash flow?
Harvard Biosci (HBIO) generated $6.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Harvard Biosci's total assets?
Harvard Biosci (HBIO) had $80.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Harvard Biosci's capital expenditures?
Harvard Biosci (HBIO) invested $1.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Harvard Biosci spend on research and development?
Harvard Biosci (HBIO) invested $8.8M in research and development during fiscal year 2025.
What is Harvard Biosci's current ratio?
Harvard Biosci (HBIO) had a current ratio of 2.20 as of fiscal year 2025, which is generally considered healthy.
What is Harvard Biosci's debt-to-equity ratio?
Harvard Biosci (HBIO) had a debt-to-equity ratio of 2.61 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Harvard Biosci's return on assets (ROA)?
Harvard Biosci (HBIO) had a return on assets of -70.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Harvard Biosci's Piotroski F-Score?
Harvard Biosci (HBIO) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Harvard Biosci's earnings high quality?
Harvard Biosci (HBIO) has an earnings quality ratio of -0.12x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Harvard Biosci cover its interest payments?
Harvard Biosci (HBIO) has an interest coverage ratio of -13.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Harvard Biosci?
Harvard Biosci (HBIO) scores 25 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.