Harvard Bioscience Inc
Harvard Bioscience Inc develops and sells life science tools and services for research and clinical applications, generating revenue primarily through the sale of laboratory equipment and consumables.
Business. Harvard Bioscience Inc (HBIO.O) is a healthcare services and equipment company operating in the advanced medical equipment and technology industry. The firm generates revenue through the sale of products, with key performance indicators including organic revenue growth, procedure volume, and gross margin. The company is headquartered in the United States and is primarily listed on the NASDAQ exchange. Specific details regarding operating segments and geographic revenue mix are not available.
Analyst recommendations
2 analysts · consensus BuyAt a glance
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- Company
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Harvard Bioscience Inc (HBIO.O) is a healthcare services and equipment company operating in the advanced medical equipment and technology industry. The firm generates revenue through the sale of products, with key performance indicators including organic revenue growth, procedure volume, and gross margin. The company is headquartered in the United States and is primarily listed on the NASDAQ exchange. Specific details regarding operating segments and geographic revenue mix are not available.
Harvard Bioscience operates with a market capitalization of $24.9 million and a price-to-book ratio of 1.81, indicating a moderate premium to its book value. The company's liquidity position is characterized by $8.6 million in cash and equivalents, but this is offset by $35.9 million in long-term debt, resulting in a negative net cash position. The debt-to-equity ratio of 2.61 suggests a leveraged capital structure, and the current ratio of 2.2 indicates adequate short-term liquidity to cover obligations.
Profitability metrics reveal a challenging operating environment for the company. The return on equity (ROE) is -4.13, and the return on assets (ROA) is -0.71, both significantly below the industry median for Advanced Medical Equipment & Technology. The company reported a net loss of $56.7 million, with an operating loss of $49.8 million, indicating a substantial decline in profitability compared to industry peers.
Geographically and segment-wise, the company's revenue is concentrated in a single business line, as disclosed in its financial reporting. There is no public breakdown of revenue by geographic region or product segment, which limits visibility into diversification and exposure to regional economic conditions.
Looking ahead, the company's revenue is expected to remain under pressure. The current fiscal year outlook shows a continuation of the operating loss trend, with no clear path to profitability in the next fiscal year. The free cash flow of -$52.6 million highlights the company's inability to generate positive cash from operations after capital expenditures.
The risk assessment indicates a medium liquidity risk and a low dilution risk. The company's negative net cash position is a key flag, and while there is no immediate dilution pressure, the capital structure remains vulnerable to further debt financing. No recent dilutive events have been disclosed, and the company has not issued additional shares in the last reporting period.
Recent filings and transcripts do not indicate any material events that would significantly alter the company's trajectory. The company's financial performance remains consistent with its recent history, and there are no new strategic initiatives or product launches disclosed in the latest available data.
- Harvard Bioscience is operating at a significant loss with a negative return on equity and assets.
- The company's capital structure is highly leveraged, with a debt-to-equity ratio of 2.61.
- There is no disclosed geographic or segment diversification, increasing exposure to single-point risks.
- Analysts have assigned a neutral to cautious outlook, with a mean price target of $6.00.
- The company's liquidity position is medium risk, with a negative net cash position.
- No recent strategic or operational developments have been disclosed to suggest a turnaround.
Bull / Bear case
Generated · model-assistedIn focus — financials by report
Valuation
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | -1,38 |
| Revenue | —no estimate | —no estimate | 88,9M USD |
| Operating income | —no estimate | —no estimate | -2,4M USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Ev To Operating Cash Flowenterprise_value / operating_cash_flow
- Return On Equitynet_income / total_equity
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Market Capmarket_price * shares_outstanding_diluted
- Harvard Bioscience Inc Market data — financials · 2026-05-28
- Harvard Bioscience Inc Market data — analyst estimates · 2026-05-28
- Harvard Bioscience Inc Market data — ESG · 2026-05-28
Ownership & reference
Top holders
- Investment Managers · as of 2024-06-300,00 %$8M
- Investment Managers · as of 2024-12-310,00 %$0M
- Investment Managers · as of 2025-12-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
Insider activity
- Director · Common StockOther 16 556 · 2026-06-09
- Director · Common StockOther 16 556 · 2026-06-09
- Director · Common StockOther 16 556 · 2026-06-09
- Director · Common StockOther 16 556 · 2026-06-09
- Director · Common StockOther 16 556 · 2026-06-09
- Chief Financial Officer · Common StockOther 30 000 · 2026-03-20
- Director, Chief Executive Officer · Common StockOther 75 000 · 2026-03-20
- Director · Common StockBought 8 475 @ $4,85$41K · 2026-03-17
- Director · Common StockBought 10 000 @ $4,87$49K · 2026-03-17
- Director, Chief Executive Officer · Common StockBought 5 000 @ $5,01$25K · 2026-03-16
- Director · Common StockBought 12 525 @ $4,99$62K · 2026-03-16
- Chief Financial Officer · Common StockBought 5 000 @ $5,00$25K · 2026-03-16
- Director · Common StockOther 110 000 · 2025-12-17
- Director · Common StockOther 110 000 · 2025-09-05
- Director · Common StockOther 113 366 · 2025-08-15
- Director · Common StockOther 49 048 · 2025-08-15
- Director · Common StockOther 33 200 @ $0,53$18K · 2025-08-15
- Director · Common StockOther 119 332 · 2025-08-15
- Director · Common StockOther 11 540 @ $0,53$6K · 2025-08-15
- Director · Common StockOther 66 036 · 2025-08-15
- Director, Chief Executive Officer · Common StockOther 500 000 · 2025-08-08
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): 109.7%Derived (calculated)
- Net margin (FY 2025-12-31): -65.5%Derived (calculated)
- Gross margin (FY 2025-12-31): 57.7%Derived (calculated)
- Return on equity (FY 2025-12-31): -412.8%Derived (calculated)
- Return on assets (FY 2025-12-31): -70.8%Derived (calculated)
- Current ratio (FY 2025-12-31): 2.20xDerived (calculated)
- Debt-to-equity (FY 2025-12-31): 4.83xDerived (calculated)
- Capex (YoY) (2025-12-31 vs 2024-12-31): -52.4%Derived (calculated)
- Cost of revenue (YoY) (2025-12-31 vs 2024-12-31): -6.9%Derived (calculated)
- Gross profit (YoY) (2025-12-31 vs 2024-12-31): -8.9%Derived (calculated)
- Long-term debt (YoY) (2025-12-31 vs 2024-12-31): -2.9%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): -357.1%Derived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 367.3%Derived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-12-31): -682.2%Derived (calculated)
- R&D expense (YoY) (2025-12-31 vs 2024-12-31): -15.2%Derived (calculated)
- Revenue (YoY) (2025-12-31 vs 2024-12-31): -8.1%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): -78.3%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): -36.8%Derived (calculated)
- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): 4.8%Derived (calculated)
- EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): -357.1%Derived (calculated)
- EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): -357.1%Derived (calculated)
- Shareholders' equity (annual): USD 13.73MSEC XBRL filing
- Total liabilities (annual): USD 66.34MSEC XBRL filing
- Cash & equivalents (annual): USD 8.61MSEC XBRL filing