HBIO HARVARD BIOSCIENCE INC
Price Chart
Executive Summary
Harvard Bioscience reported Q1 2026 revenue of $20.8M, down 4.7% YoY from $21.8M, and a GAAP net loss of $(3.4M) vs $(50.3M) in Q1 2025 (which included a $48.0M goodwill impairment). Adjusted EBITDA was flat at $0.8M. The company reaffirmed full-year 2026 guidance of 2-4% revenue growth and 6-10% adjusted EBITDA growth, but the Q1 revenue decline and negative operating cash flow of $(0.7M) signal continued operational headwinds.
Key Financial Metrics
Actionable Insight
Revenue decline and negative operating cash flow in Q1 despite reaffirmed guidance suggest the H2 ramp is critical. Watch for Q2 results in August — a miss on the $20.5M-$22.5M revenue guidance would confirm the downtrend and likely pressure the stock further. The $31M market cap leaves little room for error.
Key Facts
- Q1 2026 revenue $20.8M vs $21.8M YoY, a decline of 4.6%
- GAAP net loss $(3.4M) vs $(50.3M) in Q1 2025 (prior year included $48.0M goodwill impairment)
- Adjusted EBITDA flat at $0.8M vs $0.8M YoY
- Operating cash flow negative $(0.7M) vs positive $3.0M in Q1 2025
- Reaffirmed FY2026 guidance: revenue growth 2-4%, adjusted gross margin 58-60%, adjusted EBITDA growth 6-10%
- Q2 2026 guidance: revenue $20.5M-$22.5M, adjusted EBITDA $1.0M-$2.0M
- Gross margin improved to 59% from 56% YoY
- Net debt increased to $32.9M from $30.8M a year ago
- 1-for-10 reverse stock split effective March 13, 2026
Financial Impact
Revenue declined $1.0M YoY; operating cash flow swung from +$3.0M to -$0.7M; net debt increased $2.1M YoY
Risk Factors
- Continued revenue decline driven by challenging end-market conditions (CRO/academic spending)
- Negative operating cash flow may pressure liquidity given $32.9M net debt
- FY2026 guidance depends on H2 ramp of new product introductions which may not materialize
- Reverse stock split may indicate low share price pressure and potential delisting risk
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-003270 |
| Document: f8k_050826.htm | 0001171843-26-003270 |
| Document: 0001171843-26-003270-index-headers.html | 0001171843-26-003270 |
| Document: 0001171843-26-003270-index.html | 0001171843-26-003270 |
| Document: 0001171843-26-003270.txt | 0001171843-26-003270 |
| 8-K Data (Synthetic) | 0001171843-26-003270 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 2, 2026
12d ago
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8-K
| $6.50 $6.48 | ▼ −0.31% | ▼ −0.71% | $6.08 (−6.46%) |
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May 12, 2026
4w ago
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8-K
| $5.41 $5.57 | ▲ +2.96% | ▲ +2.38% | $6.08 (+12.38%) |
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May 12, 2026
4w ago
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8-K
| $5.41 $5.57 | ▼ −2.96% | ▼ −2.38% | $6.08 (−12.38%) |
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May 12, 2026
4w ago
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Press Release
| $5.41 $5.57 | ▲ +2.96% | ▲ +2.38% | $6.08 (+12.38%) |
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Mar 16, 2026
13w ago
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Insider Cluster
| $5.01 $4.87 | ▼ −2.79% | ▼ −3.07% | $6.08 (+21.36%) |
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Mar 16, 2026
13w ago
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Insider Cluster
| $5.01 $4.87 | ▼ −2.79% | ▼ −3.07% | $6.08 (+21.36%) |
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Mar 16, 2026
13w ago
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Insider Cluster
| $5.01 $4.87 | ▼ −2.79% | ▼ −3.07% | $6.08 (+21.36%) |
|
Mar 12, 2026
13w ago
|
8-K / PRESS-RELEASE
| $4.90 $4.70 | ▼ −4.08% | ▼ −3.48% | $6.08 (+24.08%) |
US Market Status
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