Harvard Bioscience (HBIO) AI Stock Analysis

• Market Cap: $24.21M
• Dividend Yield: N/A
• Average Volume (3M): 12.14M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.00
• Revenue Growth: -10.60%
• EPS Growth: -271.93%
• Country: US
• Employees: 330
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 0.00
• Shares Outstanding: 44,579,666
• 10 Day Avg. Volume: 35,199,762
• 30 Day Avg. Volume: 12,135,896
• PEG Ratio: -0.03
• Price to Book (P/B): 1.45
• Price to Sales (P/S): 0.98
• P/FCF Ratio: -76.30
• Enterprise Value/Market Cap: 2.29
• Enterprise Value/Revenue: 0.64
• Enterprise Value/Gross Profit: 1.14
• Enterprise Value/Ebitda: -1.24
• 1Y Price Target: $2.00
• Price Target Upside: 400.00% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $0.50 ▲(25.00% Upside)

Harvard Bioscience's stock score reflects significant financial challenges and a weak valuation, partially offset by moderate technical indicators and positive operational improvements highlighted in the earnings call. The company's ability to manage cash flow and reduce debt provides some optimism, but ongoing profitability issues and external risks remain concerns.

Positive Factors

Strong Cash Flow Growth

The substantial increase in cash flow from operations indicates improved cash generation, enhancing financial flexibility and supporting long-term investments and debt reduction.

Successful New Product Launches

The introduction of innovative products like the SoHo Telemetry platform positions the company to capture new market opportunities and drive future revenue growth.

Debt Reduction

Reducing net debt enhances the company's balance sheet strength, lowers interest expenses, and increases financial stability, supporting long-term strategic initiatives.

Negative Factors

Decline in Revenue

The year-over-year revenue decline reflects challenges in maintaining market share and could hinder the company's ability to invest in growth and innovation.

Revenue Decline in Key Markets

Significant revenue declines in key markets like the Americas and APAC could impact overall financial performance and limit growth potential in these regions.

Challenges with NIH Funding

Delays in NIH funding can lead to prolonged sales cycles and reduced demand from academic institutions, affecting revenue stability and growth prospects.

Harvard Bioscience Business Overview & Revenue Model

Company Description

Harvard Bioscience (HBIO) is a global provider of innovative tools, instruments, and consumables for life science research. The company operates primarily in the biotechnology and pharmaceutical sectors, offering a wide range of products that facilitate research in areas such as drug discovery, neuroscience, and regenerative medicine. Core products include laboratory instruments, precision measurement devices, and advanced technologies for cellular and molecular biology applications.

How the Company Makes Money

Harvard Bioscience generates revenue through the sale of its scientific instruments, equipment, and consumables used in life science research. The company has multiple key revenue streams, including direct sales of laboratory instruments, recurring revenue from consumables, and revenue from software and service contracts. Additionally, HBIO benefits from partnerships with academic institutions, research organizations, and pharmaceutical companies, which can lead to increased sales opportunities and collaborations that enhance its market presence. The company's strategic focus on innovation and new product development also contributes significantly to its earnings, as it aims to meet the evolving needs of researchers in various scientific fields.

Harvard Bioscience Financial Statement Overview

Summary

Harvard Bioscience faces significant financial challenges with declining revenues, negative profitability, and high leverage. Despite some positive signs in cash flow generation, the overall financial health remains weak, requiring strategic improvements.

Income Statement

Harvard Bioscience's income statement reveals significant challenges. The company has experienced declining revenues, with a negative revenue growth rate in the TTM period. Profitability metrics are concerning, with negative net profit and EBIT margins indicating operational inefficiencies. The gross profit margin has decreased slightly over time, suggesting pressure on cost management. Overall, the income statement reflects a struggling financial performance with limited profitability.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio in the TTM period, indicating increased leverage and potential financial risk. Return on equity is negative, reflecting ongoing losses and inefficiencies in generating shareholder value. The equity ratio has decreased, suggesting a weakening financial position. While the company has managed to reduce debt over time, the current leverage level remains a concern.

Cash Flow

Cash flow analysis presents a mixed picture. The company has achieved positive free cash flow growth in the TTM period, a positive sign of cash generation. However, the operating cash flow to net income ratio is low, indicating challenges in converting earnings into cash. The free cash flow to net income ratio is positive, suggesting some ability to generate cash despite net losses. Overall, cash flow management shows some improvement but remains constrained by operational challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	87.37M	94.14M	112.25M	113.33M	118.90M	102.10M
Gross Profit	48.59M	54.77M	66.07M	60.82M	67.65M	58.04M
EBITDA	-44.78M	-1.47M	8.03M	944.00K	9.02M	5.17M
Net Income	-53.84M	-12.40M	-3.42M	-9.52M	-288.00K	-7.81M
Balance Sheet
Total Assets	77.99M	126.64M	137.37M	145.36M	162.34M	156.25M
Cash, Cash Equivalents and Short-Term Investments	6.82M	4.11M	4.28M	4.51M	7.82M	8.32M
Total Debt	7.33M	44.49M	42.77M	54.24M	56.96M	57.60M
Total Liabilities	63.92M	63.30M	64.29M	73.14M	78.94M	79.57M
Stockholders Equity	14.07M	63.34M	73.07M	72.22M	83.40M	76.68M
Cash Flow
Free Cash Flow	7.44M	-1.20M	11.72M	-438.00K	-83.00K	8.18M
Operating Cash Flow	8.55M	1.44M	14.03M	1.15M	1.26M	9.33M
Investing Cash Flow	-1.73M	-1.34M	-1.80M	-1.59M	-1.34M	-1.40M
Financing Cash Flow	-5.10M	-131.00K	-12.13M	-2.84M	-252.00K	-7.97M

Harvard Bioscience Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HBIO, the sentiment is Positive. The current price of 0.4 is below the 20-day moving average (MA) of 0.47, below the 50-day MA of 0.46, and below the 200-day MA of 0.59, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 56.80 is Neutral, neither overbought nor oversold. The STOCH value of 29.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HBIO.

Harvard Bioscience Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MHUA	64 Neutral	$7.20M	0.73	5.90%	―	-4.99%	-19.11%
EKSO	52 Neutral	$17.40M	-0.92	-85.01%	―	-16.59%	43.20%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
HBIO	50 Neutral	$24.21M	―	-135.62%	―	-10.60%	-271.93%
RVP	48 Neutral	$25.18M	-2.81	-10.80%	―	-0.24%	50.45%
NXGL	47 Neutral	$23.44M	-5.47	-66.08%	―	133.00%	29.69%
MLSS	38 Underperform	$29.73M	-4.35	-123.50%	―	7.84%	-43.00%

Harvard Bioscience Corporate Events

Harvard Bioscience Reports Q3 2025 Financial Results

Harvard Bioscience, Inc. is a prominent developer and manufacturer in the life sciences sector, providing technologies and services for research, drug discovery, and preclinical testing, with a global presence in the United States, Europe, and China.

Harvard Bioscience Granted Nasdaq Compliance Extension

On October 2, 2025, Harvard Bioscience received a notification from Nasdaq granting an additional 180 days, until March 30, 2026, to comply with the minimum bid price requirement of $1.00 per share for continued listing on the Nasdaq Capital Market. The company’s stock will be transferred from the Nasdaq Global Market to the Nasdaq Capital Market, effective October 3, 2025, as part of this compliance effort. Failure to meet the requirement by the deadline could result in delisting, but the company plans to monitor its stock price and consider options like a reverse stock split to regain compliance.

The most recent analyst rating on (HBIO) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Harvard Bioscience stock, see the HBIO Stock Forecast page.

Harvard Bioscience Appoints Stephen DeNelsky to Board

On September 5, 2025, Harvard Bioscience appointed Stephen DeNelsky to its Board of Directors, effective immediately, and he will also serve on the Nominating & Governance Committee. DeNelsky, a veteran in the life sciences industry with 30 years of experience, is expected to bring valuable expertise in financial strategy to the company, enhancing its governance and long-term value creation.

The most recent analyst rating on (HBIO) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Harvard Bioscience stock, see the HBIO Stock Forecast page.

Harvard Bioscience Offers CFO $100K Retention Bonus

On August 12, 2025, Harvard Bioscience, Inc. announced a retention letter agreement with Mark Frost, its Interim Chief Financial Officer, offering him a $100,000 cash bonus upon successful refinancing of the company’s existing term loan and senior revolving credit facility by March 15, 2026. This agreement replaces a previous $50,000 bonus offer and includes provisions for salary and benefits continuation if Mr. Frost’s employment is terminated without cause before the refinancing date, highlighting the company’s strategic focus on financial stability and leadership retention.

The most recent analyst rating on (HBIO) stock is a Buy with a $4.50 price target. To see the full list of analyst forecasts on Harvard Bioscience stock, see the HBIO Stock Forecast page.

Harvard Bioscience at Risk of Nasdaq Delisting: Implications for Investors and Business Stability

Harvard Bioscience faces a significant business risk as it has received a notification from Nasdaq indicating non-compliance with the minimum bid price requirement, which could lead to delisting. This situation poses a threat to the company’s ability to raise capital, affects the liquidity and market price of its common stock, and could result in a loss of investor confidence. The company has until October 1, 2025, to regain compliance, potentially through a reverse stock split, but there is no guarantee of success. Delisting could also impact employee morale, customer trust, and business development opportunities.

Harvard Bioscience Reports Q2 2025 Financial Results

Harvard Bioscience, Inc. is a prominent developer and manufacturer in the life sciences sector, providing essential technologies for research, drug discovery, and preclinical testing, with a global presence across the United States, Europe, and China.

Harvard Bioscience Surpasses Revenue Guidance Amid Challenges

The recent earnings call for Harvard Bioscience painted a picture of cautious optimism, with the company demonstrating strong financial discipline. Despite challenges such as regional revenue declines in the Americas and APAC regions, the company exceeded its revenue guidance and made significant strides in product pipeline development. The sentiment was one of stabilizing the business while positioning for long-term growth.

Harvard Bioscience Amends Credit Agreement with Lenders

On August 8, 2025, Harvard Bioscience, Inc. entered into a Sixth Amendment to its Credit Agreement with Citizens Bank and other lenders. The amendment waives certain defaults and adjusts financial covenants, but raises concerns about the company’s ability to continue operations past December 2025 without securing additional capital or refinancing its debt.

The most recent analyst rating on (HBIO) stock is a Buy with a $4.50 price target. To see the full list of analyst forecasts on Harvard Bioscience stock, see the HBIO Stock Forecast page.