Q2 2025 Harvard Bioscience Inc Earnings Call Transcript
Key Points
- Harvard Bioscience Inc (HBIO) reported second quarter revenue of $20.5 million, which was above their guidance range of $18 million to $20 million.
- The company achieved a gross margin of 56.4%, which was towards the high end of their guidance of 55% to 57%.
- Operating expenses declined by $2 million from the prior year, contributing to an improvement in adjusted operating income.
- Adjusted EBITDA increased to $1.5 million from $1.3 million in the same quarter last year, driven by reduced operating expenses.
- The company generated strong cash flow from operations, with $5.7 million year-to-date compared to $0.6 million in the same period last year.
- Revenue declined from $23.1 million in the prior year to $20.5 million in the current quarter.
- The gross margin decreased from 57.2% in the second quarter of 2024 to 56.4% in the current quarter due to lower absorption of fixed manufacturing overhead costs.
- Revenue in the Americas declined by 11.7% year-over-year, primarily due to a lack of budget clarity for academics and NIH.
- APAC revenue was down over 25% year-over-year due to macro uncertainty over tariffs, particularly with China.
- The company faces ongoing uncertainty regarding NIH funding delays, which continue to extend academic purchasing cycles.
Good day, and welcome to the second quarter 2025 Harvard Bioscience earnings conference call. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Taylor Krafcik, Senior Vice President at Ellipsys TA. Please go ahead.
Thank you, operator, and good morning, everyone. Thank you for joining the Harvard Bioscience Second Quarter 2025 Earnings Conference Call. Leading the call today will be John Duke, President and Chief Executive Officer; and Mark Frost, Interim Chief Financial Officer. In conjunction with today's recorded call, we have provided a presentation that will be referenced during our remarks that is posted to the Investor Relations section of our website at investor.harvordbioscience.com.
Please note that statements made today in discussion that are not historical facts, including statements on management's expectations of future events or future financial performance, are forward-looking statements and are made pursuant
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