HOLLISTON, Mass., Sept. 18, 2024 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) today announced that it will be showcasing its latest product innovations at the Safety Pharmacology Society (SPS) Annual Meeting being held from September 22-25, 2024, in San Diego. DSI™ Ponemah™ Data Management Platform Provides Integrated Preclinical Solution The Company's Ponemah™ platform, known for its compliance with GLP standards, is a leading tool for managing and analyzing data from a wide range of preclin ...

HOLLISTON, Mass., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) today announced that Jim Green, Chairman and Chief Executive Officer, and Jennifer Cote, Chief Financial Officer, will be participating in the Sidoti Small Cap Virtual Conference on September 18th, 2024, with a presentation time of 9:15 am ET. The presentation will be webcast live and can be accessed through the investor relations section of the Harvard Bioscience website: https://investor.harvardbioscience.com/even ...

Financial Data and Key Metrics Changes - Revenue in Q2 2024 was $23.1 million, down $5.7 million from the previous year [5] - Gross margin was 57.2%, a decrease from 58% in Q2 last year, primarily due to lower absorption of fixed manufacturing costs [9][10] - Adjusted EBITDA decreased from $3.9 million last year to $1.3 million this year [10] - Operating loss on a GAAP basis was reported at $2.1 million, while adjusted operating profit was $800,000, or 3.5% of revenue [6][11] Business Line Data and Key Metrics Changes - Revenue from the Americas was down 12% year-over-year and 3% sequentially [7] - Preclinical sales declined compared to the prior year and sequentially [7] - Cellular and Molecular products saw a slight decline of 5% year-over-year but showed sequential growth of 9% compared to Q1 2024 [7] - In Europe, revenue was down 29% year-over-year but flat sequentially [8] - APAC revenue decreased by 22% year-over-year and 16% sequentially, with preclinical sales continuing to decline [8] Market Data and Key Metrics Changes - The market environment has been challenging, with slower sales to China and Asia Pacific continuing [5] - Capital spending by CRO and biopharma customers in Europe and the U.S. has been reduced, impacting preclinical product shipments [5] - The academic market in Asia is showing signs of recovery, with increased quoting activity [24][46] Company Strategy and Development Direction - The company is focusing on new product initiatives and operating cost structure improvements to support long-term double-digit revenue growth [6][14] - New product revenue streams from bioproduction and MEA Organoid applications are expected to begin in the second half of the year [14] - The company aims to leverage established technologies for high-growth applications with significant consumable and recurring revenues [14][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a tough first half of the year and a challenging Q2, but expressed optimism about market recovery in the second half [5][21] - The full-year 2024 revenue outlook has been reduced to approximately $97 million to $102 million, with expectations for sequential growth supported by new product shipments [21] - Management expects gross margin for the full year to be around 59% to 60% despite lower expected revenue [21] Other Important Information - The company realized approximately $700,000 in savings from operational efficiency actions during Q2, with expected annual run rate savings of about $4 million [10][50] - Recurring revenue has increased from a little above 35% to closer to 40% due to pressure on capital purchases [48] Q&A Session Summary Question: What is the total APAC exposure as a percent of revenue? - Historically, Asia Pacific has been about 25% of total revenue, predominantly from China [23] Question: What is the outlook for APAC? - Management believes they have reached the bottom in APAC, with growing funnels and early indications of recovery [24] Question: Are orders being received for new products? - The company has started receiving orders for new products introduced at the end of last year, with expectations for revenue growth in the second half [25][27] Question: What growth is expected if the market grows at 5%? - The company expects to achieve low double-digit growth driven by new product development, independent of market growth [33] Question: Can you elaborate on the organoid marketing strategy? - The strategy includes leveraging academic research and publications to build credibility and market presence, targeting both academic and biopharma customers [39][41]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2024 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-33957 HARVARD BIOSCIENCE, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 04-3306140 (State or other jurisdiction of Incorpo ...

HOLLISTON, Mass., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) (the "Company") today announced financial results for the second quarter ended June 30, 2024. Jim Green, Chairman and CEO, said, "Second quarter revenues reflect a more challenging than expected market environment. With the uncertainty of the timing for market recovery we stayed focused on managing costs and the actions we implemented during Q2 are expected to drive annualized savings of approximately $4 million whil ...

Exhibit 99.1 Harvard Bioscience Announces Second Quarter 2024 Financial Results HOLLISTON, Mass., August 8, 2024 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) (the "Company") today announced financial results for the second quarter ended June 30, 2024. Jim Green, Chairman and CEO, said, "Second quarter revenues reflect a more challenging than expected market environment. With the uncertainty of the timing for market recovery we stayed focused on managing costs and the actions we implemented du ...

HOLLISTON, Mass., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) will announce its financial results for the quarter ended June 30, 2024 before the market opens on August 8, 2024, and will hold a conference call to discuss the results at 10:00 a.m. Eastern Time. Participants who would like to join the call and ask a question must register here. Once registered, you will receive the dial-in numbers and a unique PIN number. Participants who would like to join the audio-only webcast ...

HOLLISTON, Mass., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) will announce its financial results for the quarter ended June 30, 2024 before the market opens on August 8, 2024, and will hold a conference call to discuss the results at 10:00 a.m. Eastern Time. Participants who would like to join the call and ask a question must register here. Once registered, you will receive the dial-in numbers and a unique PIN number. Participants who would like to join the audio-only webcast ...

HOLLISTON, Mass., June 06, 2024 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) today announced that Jim Green, Chairman and Chief Executive Officer, and Jennifer Cote, Chief Financial Officer, will be presenting to investors at the 14th Annual East Coast IDEAS Conference at the Jay Conference Center – Bryant Park in New York City on June 12, 2024. About Harvard Bioscience, Inc. For more information, please visit our website at www.harvardbioscience.com. The Company's presentation is scheduled f ...

About Harvard Bioscience, Inc. Company Contact: Three Part Advisors Sandy Martin / Erol Girgin / William Shelmire HBIO@threepa.com (214) 616-2207 The Company's presentation is scheduled for 2:45-3:20 PM ET on June 12th. The Company will also host oneon-one investor meetings throughout the day. The presentation will be webcast live and can be accessed through the investor relations section of the Harvard Bioscience website at https://investor.harvardbioscience.com. A replay will be available shortly after th ...