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 reported Q1 2023 revenues of $30 million, a 4% increase from Q1 2022. The company achieved a GAAP operating income of $1.7 million, compared to a loss of $6.7 million in the previous year. Adjusted operating income rose to $4.4 million, up from $2.4 million in Q1 '22. The gross margin improved to 61% from 56% year-over-year. Net income was $0.6 million, a notable recovery from a net loss of $6.9 million. Adjusted EBITDA increased to $4.8 million, reflecting a margin of 16% compared to 9% last year. The company expects mid-single-digit revenue growth for 2023, factoring in challenges from discontinued products.
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