Harvard Bioscience Files Q2 2024 10-Q

TL;DR

HBIO Q2 10-Q filed. Financials and operations updated.

AI Summary

Harvard Bioscience Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Specific financial figures and business segment information are provided within the report.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance of Harvard Bioscience, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial details and business performance within can reveal underlying risks or strengths.

Key Players & Entities

• HARVARD BIOSCIENCE INC (company) — Filer
• 20240630 (date) — Period of Report
• 84 OCTOBER HILL RD (address) — Business Address
• HOLLISTON (city) — Business Address City
• MA (state) — Business Address State
• 01746 (zip_code) — Business Address Zip
• 5088938999 (phone_number) — Business Phone
• HoeferProductLineMember (product_line) — Disposal Group

FAQ

Key Financial Figures

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

Filing Documents

• hboi20240630_10q.htm (10-Q) — 1266KB
• ex_709847.htm (EX-10.1) — 1135KB
• ex_705729.htm (EX-10.2) — 56KB
• ex_705730.htm (EX-10.3) — 31KB
• ex_705731.htm (EX-10.4) — 33KB
• ex_705180.htm (EX-31.1) — 11KB
• ex_705182.htm (EX-31.2) — 11KB
• ex_705183.htm (EX-32.1) — 4KB
• ex_705184.htm (EX-32.2) — 4KB
• citizenlogo.jpg (GRAPHIC) — 4KB
• logo.jpg (GRAPHIC) — 7KB
• 0001171843-24-004564.txt ( ) — 8397KB
• hbio-20240630.xsd (EX-101.SCH) — 66KB
• hbio-20240630_def.xml (EX-101.DEF) — 412KB
• hbio-20240630_lab.xml (EX-101.LAB) — 355KB
• hbio-20240630_pre.xml (EX-101.PRE) — 454KB
• hbio-20240630_cal.xml (EX-101.CAL) — 53KB
• hboi20240630_10q_htm.xml (XML) — 1181KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1

Condensed Consolidated Financial Statements (unaudited)

Item 1. Condensed Consolidated Financial Statements (unaudited) 1 Consolidated Balance Sheets 1 Consolidated Statements of Operations 2 Consolidated Statements of Comprehensive Income (Loss) 3 Consolidated Statements of Stockholders' Equity 4 Consolidated Statements of Cash Flows 5 Notes to Unaudited Consolidated Financial Statements 6

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 16

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 21

Controls and Procedures

Item 4. Controls and Procedures 21

- OTHER INFORMATION

PART II - OTHER INFORMATION 22

Legal Proceedings

Item 1. Legal Proceedings 22 Item1A. Risk Factors 22

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 22

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 22

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 22

Other Information

Item 5. Other Information 22

Exhibits

Item 6. Exhibits 22

SIGNATURES

SIGNATURES 24 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. HARVARD BIOSCIENCE, INC. CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands, except share and per share data) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 4,048 $ 4,283 Accounts receivable, net 12,486 16,099 Inventories 25,130 24,716 Other current assets 4,766 3,940 Total current assets 46,430 49,038 Property, plant and equipment, net 4,758 3,981 Operating lease right-of-use assets 4,420 4,773 Goodwill 56,627 57,065 Intangible assets, net 13,441 16,036 Other long-term assets 3,236 6,473 Total assets $ 128,912 $ 137,366 Liabilities and Stockholders' Equity Current liabilities: Current portion of long-term debt $ 3,720 $ 5,859 Accounts payable 5,711 5,554 Contract liabilities 4,010 4,508 Other current liabilities 9,180 10,621 Total current liabilities 22,621 26,542 Long-term debt, net 31,960 30,704 Deferred tax liability 764 776 Operating lease liabilities 4,713 4,794 Other long-term liabilities 1,607 1,476 Total liabilities 61,665 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: 43,610,883 shares issued and outstanding at June 30, 2024; 43,394,509 shares issued and outstanding at December 31, 2023 436 434 Additional paid-in-capital 234,905 232,435 Accumulated deficit ( 153,226 ) ( 145,605 ) Accumulated other comprehensive loss ( 14,868 ) ( 14,190 ) Total stockholders' equity 67,247 73,074 Total liabilities and stockholders' equity $ 128,912 $ 137,366 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents HARVARD BIOSCIENCE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Three

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View this 10-Q filing on SEC EDGAR