Filing Flows › Harvard Bioscience (HBIO) › Q4 2025
Harvard Bioscience (HBIO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 13, 2026
Harvard Bioscience (HBIO) reported revenue of $23.7M for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and +15% from the quarter before. Operating margin was 7.2%, net loss $2.8M (12.0% of revenue).
Harvard Bioscience, Q4 2025: revenue $23.7M (-3% year over year), operating margin 7.2%, net loss $2.8M, operating cash flow −$96K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $23.7M | +15% | -3% |
| Operating profit | $1.7M | +768% | 155× |
| Net earnings | −$2.8M | — | -15917% |
| Operating cash flow | −$96K | -109% | -106% |
What changed
Revenue was $23.7M in Q4 2025, down 3% year over year and up 15% from the previous quarter. Instruments, Equipment, Software, and Accessories was the largest line at 91% of revenue.
Gross margin was 59.7%, up 2.7 points from Q4 2024. Operating profit was $1.7M, a 7.2% margin (up 7.2 points year over year). Operating expenses fell 11% while revenue fell 3%. The quarter ended with a net loss of $2.8M, wider than the previous quarter's $1.2M loss. Net interest and other expense of $4.9M was the main reason.
Operating cash flow was −$96K. Non-cash charges added back $1.3M of depreciation and amortization and $459K of share-based compensation. Working capital and other items added $1.0M. Capital expenditures of $449K exceeded it, leaving free cash flow of −$545K.
Questions
What was Harvard Bioscience's revenue in the fourth quarter 2025?
Harvard Bioscience (HBIO) reported revenue of $23.7M for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and +15% from the quarter before.
Was Harvard Bioscience profitable in the fourth quarter 2025?
Operating profit was $1.7M (7.2% of revenue) and net loss $2.8M.
Source: Harvard Bioscience 10-K on SEC EDGAR.