Q4 2025 Harvard Bioscience Inc Earnings Call Transcript
Key Points
- Harvard Bioscience Inc (HBIO) completed a comprehensive refinancing, extending debt maturity to 2029 and reducing annual debt service, generating $3 million in annual cash savings.
- The company announced a strategic consolidation of its manufacturing footprint, expected to generate $3 million in savings in 2027 and $4 million thereafter.
- Revenue for the fourth quarter was $23.7 million, above the midpoint of guidance, with a gross margin of 60% at the high end of guidance.
- Adjusted EBITDA grew by 27% year over year to $3.8 million, driven by cost reductions and operational efficiency.
- Harvard Bioscience Inc (HBIO) is evolving into a leading enabler of translational science, positioning itself in the $10 billion translational science market.
- Full year revenue for 2025 was down from $94.1 million to $86.6 million, primarily due to tariffs and delayed NIH funding.
- Gross margin for the full year decreased from 58.2% to 57.77%, impacted by lower revenue.
- The company faced a government shutdown of 43 days, impacting its ability to overachieve within the quarter.
- Revenue in the Americas and Europe saw declines due to lower academic and distribution sales.
- The company reported a GAAP loss per share of $1.28 for the full year, compared to $0.28 in 2024, largely due to a goodwill impairment charge.
Good day and welcome to the 4th quarter in full year 2025 Harvard Bioscience earnings conference call. All participants will be in a listen-only mode. After today's presentation, there will be a question-and-answer session. Instructions will be given at that time. Please note this event is being recorded. I would like to turn the conference over to Taylor Krafchik, senior Vice President at Elipsis TA. Please go ahead.
Thank you, operator, and good morning everyone.
Thank you for joining the Harvard Bioscience 4th quarter and full year 2025 earnings conference call.
Leading the call today will be John Duke, President and Chief Executive Officer, and Mark Frost, Chief Financial Officer. In conjunction with today's call, we have provided the presentation that will be referenced during our remarks that is posted to the investor relations section of our website at investor.harvardbioscience.com.
Please note that statements made in today's discussion that are not historical facts, including
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