The stock may react positively to the raised 2026 guidance and improved adjusted EBITDA, but traders should monitor whether the company can achieve growth in 2026 to justify the valuation, given the significant goodwill impairment and revenue decline in 2025.
Price Chart
Executive Summary
Harvard Bioscience reported full-year 2025 revenue of $86.6M, down from $94.1M in 2024, driven by a challenging market and reduced spending. The net loss widened to $56.7M from $12.4M, primarily due to a $48M goodwill impairment. Despite the decline, the company raised full-year 2026 guidance, forecasting 2-4% revenue growth and improved margins, citing new product innovation and stabilized NIH funding.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue was $86.6M, a 7.9% decline from $94.1M in 2024
- Net loss for 2025 was $56.7M, significantly higher than the $12.4M loss in 2024, primarily due to a $48M goodwill impairment
- Adjusted EBITDA increased to $8.1M in 2025 from $7.2M in 2024
- The company introduced full-year 2026 guidance, expecting 2-4% revenue growth and 6-10% adjusted EBITDA growth
- CFO Mark Frost was appointed on a permanent basis
Financial Impact
Revenue declined by $7.5M year-over-year, while the net loss increased by $44.3M, largely due to a one-time $48M goodwill impairment. Adjusted EBITDA grew by $0.9M.
Risk Factors
- The $48M goodwill impairment indicates potential overpayment for past acquisitions and raises concerns about the company's long-term strategy
- Revenue decline for the year despite fourth quarter improvement suggests ongoing market challenges
- Execution risk on the 2026 growth guidance in a challenging funding environment for research institutions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (HBIO) — Batch item 1 | 0001171843-26-001504 |
| Document: f8k_031226.htm | press-3254499 |
| Document: 0001171843-26-001504-index-headers.html | 0001171843-26-001504 |
| Document: 0001171843-26-001504-index.html | 0001171843-26-001504 |
| Document: 0001171843-26-001504.txt | 0001171843-26-001504 |
| PRESS-RELEASE Data (Synthetic) | 0001171843-26-001504 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | SC 13G/A | $7.92 | awaiting T+60 | — | $8.32 (+5.05%) |
Aug 11, 2026 11w ago | 8-K | $6.13 | awaiting T+60 | — | $8.32 (+35.73%) |
Aug 11, 2026 11w ago | 8-K | $6.13 | awaiting T+60 | — | $8.32 (+35.73%) |
Jul 28, 2026 12w ago | Press Release | $5.92 | awaiting T+60 | — | $8.32 (+40.54%) |
Jun 2, 2026 20w ago | 8-K | $6.50 $7.90 | ▲ +21.54% | ▲ +19.04% | $8.32 (+28.00%) |
May 12, 2026 23w ago | 8-K | $5.41 $6.19 | ▲ +14.42% | ▲ +10.03% | $8.32 (+53.79%) |
May 12, 2026 23w ago | 8-K | $5.41 $6.19 | ▼ −14.42% | ▼ −10.03% | $8.32 (−53.79%) |
May 12, 2026 23w ago | Press Release | $5.41 $6.19 | ▲ +14.42% | ▲ +10.03% | $8.32 (+53.79%) |
Mar 16, 2026 32w ago | Insider Cluster | $5.01 $6.01 | ▲ +19.96% | ▲ +9.48% | $8.32 (+66.07%) |
Mar 16, 2026 32w ago | Insider Cluster | $5.01 $6.01 | ▲ +19.96% | ▲ +9.48% | $8.32 (+66.07%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers