HOLLISTON, Mass. — August 11, 2025 — Leads & Copy — Harvard Bioscience, Inc. (Nasdaq: HBIO) announced its financial results for Q2 2025, reporting revenues of $20.5 million and a gross margin of 56.4%. The company also signed a credit amendment, extending the refinance deadline to December 5th.
President and CEO John Duke noted the team’s dedication and the company’s fundamentals, focusing on core business growth and balance sheet restructuring.
Q2 revenues reached $20.5 million, compared to $23.1 million in 2024. Gross margin was 56.4%, slightly down from 57.2% the previous year. Net loss was ($2.3) million, an improvement from ($2.9) million in 2024. Adjusted EBITDA was $1.5 million, up from $1.3 million.
The credit agreement amendment waives default events and financial covenant testing for Q3 2025, provided payment obligations and liquidity requirements are met. The company must refinance or repay the credit agreement by December 5, 2025.
For the six months ended June 30, 2025, revenues were $42.2 million, compared to $47.6 million in 2024. Net loss was ($52.6) million, primarily due to a goodwill impairment. Cash provided by operations was $5.7 million.
The company anticipates Q3 2025 revenues of $19 million to $21 million, with a gross margin between 56% and 58%.
Mark Frost, Interim Chief Financial Officer, can be reached at (508) 893-3120 or investors@harvardbioscience.com.
Source: Harvard Bioscience
