Filing Flows › Harvard Bioscience (HBIO) › Q3 2025
Harvard Bioscience (HBIO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Harvard Bioscience (HBIO) reported revenue of $20.6M for the third quarter 2025 (Q3 2025), -6% from a year earlier and +0.7% from the quarter before. Operating margin was 1.0%, net loss $1.2M (6.0% of revenue).
Harvard Bioscience, Q3 2025: revenue $20.6M (-6% year over year), operating margin 1.0%, net loss $1.2M, operating cash flow $1.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.6M | +0.7% | -6% |
| Operating profit | $197K | — | — |
| Net earnings | −$1.2M | — | — |
| Operating cash flow | $1.1M | -61% | — |
| Free cash flow | $877K | -67% | — |
What changed
Revenue was $20.6M in Q3 2025, down 6% year over year and up 1% from the previous quarter. Instruments, Equipment, Software, and Accessories was the largest line at 90% of revenue. Instruments, Equipment, Software, and Accessories lost $2.0M year over year (down 10%), 142% of the total change.
Gross margin was 58.4%, up 0.3 points from a year earlier. Operating profit was $197K, a 1.0% margin (up 9.5 points year over year). Operating expenses fell 19% while revenue fell 6%. The quarter ended with a net loss of $1.2M, narrower than the previous quarter's $2.3M loss. Net interest and other expense of $1.3M was the main reason.
Operating cash flow was $1.1M. Non-cash charges added back $1.3M of depreciation and amortization and $324K of share-based compensation. Working capital and other items added $711K. Capital expenditures of $207K left free cash flow of $877K.
Questions
What was Harvard Bioscience's revenue in the third quarter 2025?
Harvard Bioscience (HBIO) reported revenue of $20.6M for the third quarter 2025 (Q3 2025), -6% from a year earlier and +0.7% from the quarter before.
Was Harvard Bioscience profitable in the third quarter 2025?
Operating profit was $197K (1.0% of revenue) and net loss $1.2M.
Source: Harvard Bioscience 10-Q on SEC EDGAR.