Welcome to our dedicated page for Harvard Bioscience news (Ticker: HBIO), a resource for investors and traders seeking the latest updates and insights on Harvard Bioscience stock.
Harvard Bioscience Inc. (NASDAQ: HBIO) is a global developer, manufacturer, and marketer of specialized products and scientific instruments that advance life science research. With a focus on enabling fundamental research, discovery, and pre-clinical testing for drug development, Harvard Bioscience serves a diverse range of customers, including pharmaceutical and biotechnology companies, universities, and government laboratories worldwide.
The company’s comprehensive product portfolio includes brands such as Harvard Apparatus, DSI, Buxco, Biochrom, BTX, Heka, Hugo Sachs, Multichannel Systems MCS GmbH, and Panlab. These products are used in various applications, from basic research to complex pre-clinical studies, and are distributed in over 100 countries through direct sales, catalogs, websites, and partnerships with renowned distributors like GE Healthcare, Thermo Fisher Scientific Inc., and VWR.
Harvard Bioscience operates manufacturing and sales facilities in the United States, the United Kingdom, Germany, and Spain, with additional sales operations in France and Canada. The company’s primary revenue stream comes from the United States, but it maintains a significant presence in North America, Europe, and China.
Recently, Harvard Bioscience has introduced several innovative solutions to enhance the efficiency and throughput of its customers’ research activities. These include the DSI™ Ponemah™ Data Management Platform with integrated solutions like SoHo™ implantable telemetry for small animal models and the VivaMARS™ high-capacity behavior monitoring system. These advancements support more natural research environments and longitudinal studies, reduce operating costs, and open opportunities for emerging machine learning algorithms to analyze large data sets efficiently.
Another significant innovation is the MCS™ Mesh MEA™ Organoid Platform, which allows researchers to capture precise electrophysiology measurements from within living organoids in real time. This platform is designed for applications in safety pharmacology and toxicology and supports the growing use of organoids in research and discovery.
Harvard Bioscience continues to focus on organizational efficiencies and aligning its global operating structure with strategic growth priorities. The recent labor force reduction aims to improve operating cost structure and support ongoing investments in growth, with expected annual run rate savings of approximately $4 million starting in the second quarter of 2024.
For more information about Harvard Bioscience and its innovative products, please visit https://www.harvardbioscience.com.
Harvard Bioscience (NASDAQ: HBIO) reported Q3 2024 financial results showing revenues of $22.0 million, down from $25.4 million in Q3 2023. The company posted a net loss of $(4.8) million compared to $(1.2) million in the same period last year. Gross margin remained stable at 58.1%, while Adjusted EBITDA decreased to $1.3 million from $2.2 million.
The company completed migration to a single US enterprise resource planning system and implemented cost reduction actions expected to save $1 million quarterly starting Q4. For Q4 2024, HBIO expects revenues between $23-26 million with gross margins of 59-60% and adjusted EBITDA margin in mid-teens.
Harvard Bioscience (Nasdaq: HBIO) has scheduled its third quarter 2024 financial results announcement for November 7, 2024, before market opening. The company will host a conference call at 8:00 AM ET to discuss the results. Participants wanting to ask questions must pre-register to receive dial-in information and a PIN. An audio-only webcast option is also available through the company's investor website, where the earnings release and related presentation materials will be accessible.
Harvard Bioscience (Nasdaq: HBIO) will showcase its latest product innovations at the Society for Neuroscience (SfN) 2024 Annual Meeting in Chicago. Key highlights include:
1. Mesh MEA™ microelectrode array system: Captures electrophysiology signals from inside organoids in real-time, providing new insights into neural dynamics and brain disorders.
2. SoHo™ implantable telemetry platform: Allows data collection from multiple small animal models in a shared housing environment, integrated with the Ponemah™ data management platform.
3. VivaMARS™ activity monitoring system: Offers real-time behavioral testing for neurological research and neuropharmacology studies, reducing operating expenses and test cycle times.
The company will also display its new Heka™ patch clamp amplifiers and other products supporting in vitro and in vivo neuroscience research. Harvard Bioscience will exhibit at booth #925 at the McCormick Place Convention Center from October 6-9, 2024.
Harvard Bioscience (Nasdaq: HBIO) is showcasing its latest product innovations at the Safety Pharmacology Society Annual Meeting from September 22-25, 2024, in San Diego. The company is presenting several key solutions:
1. DSI Ponemah Data Management Platform: An integrated preclinical solution for managing and analyzing data from various studies.
2. SoHo Implantable Real-Time Telemetry: A system for small animal models, enabling longer duration studies and increased testing throughput.
3. VivaMARS Activity Monitoring System: A platform for real-time, high-throughput behavioral testing in neuropharmacology safety and toxicology studies.
4. MCS Mesh MEA Organoid Platform: Designed for organoid applications in research, safety pharmacology, and toxicology, allowing real-time electrophysiology measurements inside living organoids.
Harvard Bioscience (Nasdaq: HBIO) has announced its participation in the Sidoti Small Cap Virtual Conference on September 18th, 2024. Jim Green, Chairman and CEO, and Jennifer Cote, CFO, will represent the company with a presentation scheduled for 9:15 am ET.
The presentation will be webcast live through the investor relations section of Harvard Bioscience's website. A replay will be available shortly after the presentation concludes. Interested parties can schedule one-on-one meetings through the conference organizers.
This event provides an opportunity for investors to gain insights into Harvard Bioscience's operations and future prospects directly from its top executives.
Harvard Bioscience (NASDAQ: HBIO) reported challenging Q2 2024 financial results. Revenues decreased to $23.1 million from $28.8 million in Q2 2023. The company experienced a net loss of $2.9 million, compared to a $1.0 million loss in the same period last year. Gross margin slightly declined to 57.2% from 58.0%.
Adjusted EBITDA fell to $1.3 million from $3.9 million in Q2 2023. The company implemented cost-saving measures expected to yield $4 million in annualized savings. Due to delayed market recovery, Harvard Bioscience reduced its 2024 revenue outlook to $97-102 million, with an expected gross margin of 59-60% and adjusted EBITDA margin in high single digits.
Harvard Bioscience (Nasdaq: HBIO) has announced its schedule for the second quarter 2024 earnings conference call, set for August 8, 2024, at 10:00 AM ET. The company will release its financial results for the quarter ended June 30, 2024, before the market opens on the same day. Interested participants can register for the call to ask questions, while an audio-only webcast option is also available. Financial information, including the earnings release and a related slide presentation, will be accessible on the Investor Relations section of Harvard Bioscience's website.
Harvard Bioscience (Nasdaq: HBIO) will present and host one-on-one meetings at the 14th Annual East Coast IDEAS Conference in New York City on June 12, 2024. Chairman and CEO Jim Green, along with CFO Jennifer Cote, will address investors from 2:45-3:20 PM ET at the Jay Conference Center – Bryant Park. The presentation will be webcast live and accessible via the company's investor relations website, with a replay available shortly afterward. To schedule individual meetings, investors should contact the conference team at Three Part Advisors.
Harvard Bioscience announced that CEO Jim Green and CFO Jennifer Cote will present at the Jefferies Global Healthcare Conference on June 5, 2024.
The event will be held at the Marriott Marquis, New York City, from 2:00 to 2:25 PM Eastern Time.
The presentation will be webcast live via the Harvard Bioscience investor relations website, with a replay available afterwards.
Additionally, the company will host one-on-one meetings with investors during the conference.
For scheduling these meetings, investors can contact healthcareconference@jefferies.com.
Harvard Bioscience announced that its CEO, Jim Green, and CFO, Jennifer Cote, will participate in the Benchmark Healthcare House Call Virtual Conference on May 22, 2024. The event will feature a live fireside chat from 9:00-9:40 am ET and one-on-one meetings with investors. Interested parties can register for the presentation or schedule meetings via the Benchmark website.
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