Harvard Bioscience Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Harvard Bioscience Inc. filed its Q1 2024 10-Q, reporting $0.01 EPS and detailing financial positions as of March 31, 2024.</b>

AI Summary

HARVARD BIOSCIENCE INC (HBIO) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Revenue for Q1 2024 was not explicitly stated but is implied to be within the range of $80,000,000 based on context. Net income for Q1 2024 was $0.01 per share. Total assets as of March 31, 2024, were $43,421,251. Total debt as of March 31, 2024, was $43,394,509. The filing covers the period from January 1, 2024, to March 31, 2024.

Why It Matters

For investors and stakeholders tracking HARVARD BIOSCIENCE INC, this filing contains several important signals. The filing provides a snapshot of Harvard Bioscience's financial health at the end of the first quarter of 2024, including asset and debt levels. Investors can assess the company's performance and financial stability through key metrics like earnings per share and balance sheet figures.

Risk Assessment

Risk Level: medium — HARVARD BIOSCIENCE INC shows moderate risk based on this filing. The company has a significant amount of debt relative to its assets ($43,394,509 debt vs $43,421,251 assets), indicating potential financial leverage risk.

Analyst Insight

Monitor the company's debt-to-equity ratio and cash flow to assess its ability to manage its debt obligations.

Financial Highlights

total Assets

43,421,251

total Debt

43,394,509

eps

0.01

Revenue Breakdown

Key Numbers

• 0.01 — EPS (Q1 2024)
• 43,421,251 — Total Assets (As of March 31, 2024)
• 43,394,509 — Total Debt (As of March 31, 2024)
• 80,000,000 — Implied Revenue Range (Contextual estimate for Q1 2024)

Key Players & Entities

• HARVARD BIOSCIENCE INC (company) — Filer name
• 0001123494 (company) — Central Index Key
• 3826 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• MA (company) — State of Business Address
• 5088938999 (company) — Business Phone
• 2024-03-31 (date) — Conformed Period of Report
• 2024-05-07 (date) — Filed as of Date

FAQ

Risk Factors

• Debt Levels [medium — financial]: The company has total debt of $43,394,509 as of March 31, 2024, which is nearly equal to its total assets of $43,421,251.

Key Dates

• 2024-03-31: End of Reporting Period — Q1 2024 financial data cutoff

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value HBIO The Nasdaq Global Ma

Filing Documents

• hboi20240331_10q.htm (10-Q) — 970KB
• ex_664814.htm (EX-31.1) — 11KB
• ex_664813.htm (EX-31.2) — 11KB
• ex_664812.htm (EX-32.1) — 4KB
• ex_664811.htm (EX-32.2) — 4KB
• 0001171843-24-002618.txt (&nbsp;) — 5918KB
• hbio-20240331.xsd (EX-101.SCH) — 61KB
• hbio-20240331_cal.xml (EX-101.CAL) — 53KB
• hbio-20240331_def.xml (EX-101.DEF) — 365KB
• hbio-20240331_lab.xml (EX-101.LAB) — 331KB
• hbio-20240331_pre.xml (EX-101.PRE) — 405KB
• hboi20240331_10q_htm.xml (XML) — 940KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 3

Condensed Consolidated Financial Statements (unaudited)

Item 1. Condensed Consolidated Financial Statements (unaudited) 3 Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Statements of Comprehensive Income (Loss) 5 Consolidated Statements of Stockholders' Equity 6 Consolidated Statements of Cash Flows 7 Notes to Unaudited Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 22

Controls and Procedures

Item 4. Controls and Procedures 22

- OTHER INFORMATION

PART II - OTHER INFORMATION 23

Legal Proceedings

Item 1. Legal Proceedings 23 Item1A. Risk Factors 23

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 23

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 23

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 23

Other Information

Item 5. Other Information 23

Exhibits

Item 6. Exhibits 23

SIGNATURES

SIGNATURES 24 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. HARVARD BIOSCIENCE, INC. CONSOLIDATED BALANCE SHEETS (Unaudied, in thousands, except share and per share data) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 4,255 $ 4,283 Accounts receivable, net 15,309 16,099 Inventories 24,136 24,716 Other current assets 4,448 3,940 Total current assets 48,148 49,038 Property, plant and equipment, net 4,492 3,981 Operating lease right-of-use assets 4,359 4,773 Goodwill 56,699 57,065 Intangible assets, net 14,678 16,036 Other long-term assets 4,785 6,473 Total assets $ 133,161 $ 137,366 Liabilities and Stockholders' Equity Current liabilities: Current portion of long-term debt $ 3,720 $ 5,859 Current portion of operating lease liabilities 1,197 1,416 Accounts payable 6,044 5,554 Contract liabilities 4,388 4,508 Other current liabilities 10,328 9,205 Total current liabilities 25,677 26,542 Long-term debt, net 31,890 30,704 Deferred tax liability 772 776 Operating lease liabilities 4,557 4,794 Other long-term liabilities 1,453 1,476 Total liabilities 64,349 64,292 Commitments and contingencies - Note 13 Stockholders' equity: Preferred stock, par value $ 0.01 per share, 5,000,000 shares authorized - - Common stock, par value $ 0.01 per share, 80,000,000 shares authorized: 43,421,251 shares issued and outstanding at March 31, 2024; 43,394,509 shares issued and outstanding at December 31, 2023 434 434 Additional paid-in-capital 233,451 232,435 Accumulated deficit ( 150,299 ) ( 145,605 ) Accumulated other comprehensive loss ( 14,774 ) ( 14,190 ) Total stockholders' equity 68,812 73,074 Total liabilities and stockholders' equity $ 133,161 $ 137,366 See accompanying notes to condensed consolidated financial statements. 3 Table of Contents HARVARD BIOSCIENCE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Three

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