HBIO · Harvard Bioscience Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.75M | - | $20.59M | $20.45M | $21.77M | - | $21.97M | $23.10M | $24.51M | - |
| Cost of Revenue | $8.51M | - | $8.57M | $8.92M | $9.59M | - | $9.21M | $9.88M | $9.74M | - |
| Gross Profit | $12.24M | - | $12.02M | $11.53M | $12.18M | - | $12.77M | $13.22M | $14.77M | - |
| R&D | $2.33M | - | $2.13M | $2.19M | $2.32M | - | $2.57M | $2.63M | $2.88M | - |
| SG&A | $4.70M | - | $4.18M | $4.26M | $5.18M | - | $5.04M | $5.69M | $5.96M | - |
| Total Operating Expenses | $13.42M | - | $11.82M | $12.35M | $61.85M | - | $14.64M | $15.29M | $17.05M | - |
| D&A | $443.0K | - | - | - | $451.0K | - | - | - | $404.0K | - |
| Operating Income | ($1.17M) | - | $197.0K | ($819.0K) | ($49.67M) | - | ($1.87M) | ($2.07M) | ($2.28M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $117.0K | - | $97.0K | $28.0K | ($454.0K) | - | $311.0K | ($353.0K) | $210.0K | - |
| Net Income | ($3.42M) | - | ($1.23M) | ($2.28M) | ($50.34M) | - | ($4.80M) | ($2.93M) | ($4.69M) | - |
| EPS - Basic | ($0.77) | - | ($0.30) | ($0.50) | ($11.40) | - | ($1.10) | ($0.70) | ($1.10) | - |
| EPS - Diluted | ($0.77) | - | ($0.30) | ($0.50) | ($11.40) | - | ($1.10) | ($0.70) | ($1.10) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.10M | $8.61M | $6.82M | $7.44M | $5.55M | $4.11M | $4.57M | $4.05M | $4.25M | $4.28M |
| Accounts Receivable | $14.57M | $16.04M | $12.11M | $11.94M | $13.48M | $14.87M | $12.83M | $12.49M | $15.31M | $16.10M |
| Inventory | $22.20M | $20.80M | $21.60M | $22.25M | $22.82M | $23.25M | $25.99M | $25.13M | $24.14M | $24.72M |
| Accounts Payable | $5.29M | $3.65M | $5.18M | $4.72M | $4.81M | $4.79M | $5.28M | $5.71M | $6.04M | $5.55M |
| Current Assets | $47.48M | $48.23M | $43.80M | $44.97M | $44.90M | $45.12M | $46.79M | $46.43M | $48.15M | $49.04M |
| Total Assets | $77.94M | $80.07M | $77.99M | $80.09M | $79.80M | $126.64M | $131.24M | $128.91M | $133.16M | $137.37M |
| Current Liabilities | $23.86M | $21.96M | $54.40M | $55.20M | $55.60M | $54.96M | $22.75M | $22.62M | $25.68M | $26.54M |
| Long-term Debt | $36.21M | $35.87M | $33.97M | $34.90M | $36.40M | $0 | $34.25M | $31.96M | $31.89M | $30.70M |
| Total Liabilities | $67.89M | $66.34M | $63.92M | $64.36M | $64.97M | $63.30M | $65.92M | $61.66M | $64.35M | $64.29M |
| Stockholders' Equity | $10.05M | $13.73M | $14.07M | $15.73M | $14.84M | $63.34M | $65.32M | $67.25M | $68.81M | $73.07M |
| Retained Earnings | ($218.13M) | ($214.71M) | ($211.86M) | ($210.63M) | ($208.35M) | ($158.01M) | ($158.03M) | ($153.23M) | ($150.30M) | ($145.60M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($662.0K) | - | - | - | $2.99M | - | - | - | $1.40M | - |
| Investing Cash Flow | ($620.0K) | - | - | - | ($683.0K) | - | - | - | ($225.0K) | - |
| Financing Cash Flow | ($9.0K) | - | - | - | ($1.20M) | - | - | - | ($1.05M) | - |
| CapEx | $426.0K | - | - | - | $513.0K | - | - | - | $645.0K | - |
| Free Cash Flow | ($1.09M) | - | - | - | $2.47M | - | - | - | $758.0K | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 59.0% | - | 58.4% | 56.4% | 56.0% | - | 58.1% | 57.2% | 60.3% | - |
| Operating margin | -5.7% | - | 1.0% | -4.0% | -228.1% | - | -8.5% | -9.0% | -9.3% | - |
| EBITDA margin | -3.5% | - | - | - | -226.0% | - | - | - | -7.6% | - |
| Net margin | -16.5% | - | -6.0% | -11.2% | -231.2% | - | -21.9% | -12.7% | -19.1% | - |
| Free cash flow margin | -5.2% | - | - | - | 11.4% | - | - | - | 3.1% | - |
| FCF / Net income | 0.32 | - | - | - | -0.05 | - | - | - | -0.16 | - |
| R&D / Revenue | 11.2% | - | 10.4% | 10.7% | 10.7% | - | 11.7% | 11.4% | 11.8% | - |
| SG&A / Revenue | 22.7% | - | 20.3% | 20.8% | 23.8% | - | 22.9% | 24.6% | 24.3% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -4.4% | - | -1.6% | -2.8% | -63.1% | - | -3.7% | -2.3% | -3.5% | - |
| Return on equity | -34.1% | - | -8.8% | -14.5% | -339.3% | - | -7.4% | -4.4% | -6.8% | - |
| Return on invested capital | -2.0% | - | 0.3% | -1.3% | -76.6% | - | -1.5% | -1.6% | -1.8% | - |
| Liquidity | ||||||||||
| Current ratio | 1.99 | 2.20 | 0.81 | 0.81 | 0.81 | 0.82 | 2.06 | 2.05 | 1.88 | 1.85 |
| Quick ratio | 1.06 | 1.25 | 0.41 | 0.41 | 0.40 | 0.40 | 0.91 | 0.94 | 0.94 | 0.92 |
| Cash ratio | 0.30 | 0.39 | 0.13 | 0.13 | 0.10 | 0.07 | 0.20 | 0.18 | 0.17 | 0.16 |
| Leverage | ||||||||||
| Debt / Equity | 3.60 | 2.61 | 2.41 | 2.22 | 2.45 | 0.00 | 0.52 | 0.48 | 0.46 | 0.42 |
| Debt / Assets | 0.46 | 0.45 | 0.44 | 0.44 | 0.46 | 0.00 | 0.26 | 0.25 | 0.24 | 0.22 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 7.76 | 5.83 | 5.54 | 5.09 | 5.38 | 2.00 | 2.01 | 1.92 | 1.94 | 1.88 |
| Liabilities / Assets | 0.87 | 0.83 | 0.82 | 0.80 | 0.81 | 0.50 | 0.50 | 0.48 | 0.48 | 0.47 |
| Efficiency | ||||||||||
| Asset turnover | 0.27 | - | 0.26 | 0.26 | 0.27 | - | 0.17 | 0.18 | 0.18 | - |
| Inventory turnover | 0.38 | - | 0.40 | 0.40 | 0.42 | - | 0.35 | 0.39 | 0.40 | - |
| Days sales outstanding | 256d | - | 215d | 213d | 226d | - | 213d | 197d | 228d | - |
| Days inventory outstanding | 952d | - | 920d | 911d | 868d | - | 1031d | 928d | 904d | - |
| Days payable outstanding | 227d | - | 220d | 193d | 183d | - | 209d | 211d | 226d | - |
| Cash conversion cycle | 982d | - | 914d | 931d | 911d | - | 1034d | 915d | 906d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 2.2x | - | 13.9x | 12.4x | 16.9x | - | 18.0x | 18.4x | 26.7x | - |
| P / S | 1.0x | - | 9.5x | 9.5x | 11.5x | - | 53.4x | 53.7x | 75.1x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -4.7% | - | -6.3% | -11.5% | -11.2% | - | -13.4% | -19.7% | -18.2% | - |
| Revenue CAGR (3y) | -11.5% | - | -8.5% | -11.2% | -8.9% | - | -9.5% | -7.5% | -3.2% | - |
| Revenue CAGR (5y) | -5.1% | - | -3.0% | -2.6% | -1.7% | - | -4.3% | -4.8% | -2.8% | - |
| Gross profit growth (YoY) | 0.5% | - | -5.8% | -12.7% | -17.5% | - | -13.3% | -20.7% | -19.5% | - |
| Operating income growth (YoY) | 97.6% | - | - | 60.4% | -2079.4% | - | -100.9% | - | - | - |
| Net income growth (YoY) | 93.2% | - | 74.4% | 22.0% | -972.4% | - | -287.6% | -198.7% | - | - |
| EPS growth (YoY) | 93.2% | - | 72.7% | 28.6% | -936.4% | - | -1275.0% | -3400.0% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | 226.3% | - | - | - | -52.3% | - |
| FCF CAGR (5y) | - | - | - | - | -1.2% | - | - | - | -16.5% | - |
| Book value growth (YoY) | -32.3% | -78.3% | -78.5% | -76.6% | -78.4% | -13.3% | -12.1% | -10.8% | -7.4% | 1.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$86.55M totalInstruments Equipment Software And Accessories$78.26M · 90.4%
Service Maintenance And Warranty Contracts$8.29M · 9.6%
Geographic
$86.55M totalUS$38.97M · 45.0%
EMEA$26.71M · 30.9%
CN$10.97M · 12.7%
Asia Other$6.68M · 7.7%
Americas Other$3.23M · 3.7%
Peer comparison
Same SIC group: Laboratory Analytical Instruments
Comparing HARVARD BIOSCIENCE INC against the 5 most active filers in the same SIC group.