Harvard Bioscience ( (HBIO) ) has released its Q4 earnings. Here is a breakdown of the information Harvard Bioscience presented to its investors.
Harvard Bioscience, Inc. is a leading company in the life sciences sector, specializing in developing, manufacturing, and selling technologies and products for research, drug discovery, and preclinical testing, with a global presence in the United States, Europe, and China.
In its latest earnings report, Harvard Bioscience announced its financial results for the fourth quarter and full year of 2024, highlighting a challenging market environment that impacted its revenues. The company noted a sequential strengthening in pre-clinical revenues but faced a decline in cellular and molecular technology revenues due to reduced purchasing by US academic customers.
The company reported fourth-quarter revenues of $24.6 million, a decrease from $28.2 million in the same period last year. Despite the revenue decline, Harvard Bioscience achieved a net income of $18 thousand, a significant improvement from a loss of $1.8 million in the previous year. For the full year, revenues were $94.1 million, down from $112.3 million in 2023, with a net loss of $12.4 million compared to a $3.4 million loss the prior year. The company attributed these results to a challenging global market and reduced spending by key customer segments.
Looking ahead, Harvard Bioscience remains focused on cost management to enhance its financial performance. The company anticipates first-quarter 2025 revenues between $19 million and $21 million, with a gross margin in the range of 56% to 58%, reflecting ongoing market uncertainties and seasonal factors.