HBIO

EX-99.1

2 exh_991.htm

EXHIBIT 99.1

Exhibit 99.1

Harvard Bioscience Announces Second Quarter 2026 Financial Results

·Second Quarter 2026 Revenue Growth of 11% Year Over Year to $22.7 Million

·Raises Full Year 2026 Revenue Guidance to 3%-5% Year Over Year Growth

HOLLISTON, Mass., August 11, 2026 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) (the “Company” or “Harvard Bioscience”) today announced financial results for the second quarter ended June 30, 2026.

"We delivered a strong quarter anchored by 11% top-line growth, reflective of stronger demand and an improved environment across our key customer channels,” said John Duke, President and Chief Executive Officer. “We are seeing solid commercial traction across our telemetry and cellular and molecular technology (CMT) products, driven by our AAA and electroporation businesses, and strong engagement from researchers utilizing our preclinical platform. Outperformance in our CMT products and China drove a slight mix impact on adjusted gross margin. This strong sales momentum positions us to raise our full-year revenue outlook while maintaining our adjusted EBITDA target, supported by ongoing cost discipline and operational progress.”

Second Quarter 2026 Results

For the second quarter of 2026, the Company reported revenues of $22.7 million compared to $20.5 million in the second quarter of 2025. Revenue for the second quarter of 2026 included a favorable impact from foreign currency exchange rates of approximately 1%, using a constant currency basis. Gross profit for the second quarter of 2026 was $12.6 million compared to $11.5 million in the second quarter of 2025. Gross margin for the second quarter of 2026 was 55.6%, compared to 56.4% in the second quarter of 2025.

Adjusted gross profit and adjusted gross margin for the second quarter of 2026 was $12.9 million and 56.7%, respectively, compared with $11.7 million and 57.2% in the same period of the prior year.

Net loss for the second quarter of 2026 was ($2.9) million, compared to a net loss of ($2.3) million in the second quarter of 2025. Adjusted EBITDA for the second quarter of 2026 was $1.7 million compared to $1.5 million in the second quarter of the prior year.

Six Months Ended June 30, 2026 Results

For the six months ended June 30, 2026, the Company reported revenues of $43.5 million, compared to $42.2 million in the same period of the prior year. Revenue for the six months ended June 30, 2026, included a favorable impact from foreign currency exchange rates of approximately 2%, using a constant currency basis. Gross profit was $24.9 million for the first six months of 2026 compared to $23.7 million in the same period of the prior year. Gross margin for the six months ended June 30, 2026, was 57.2% compared with 56.2% in the same period of the prior year.

Adjusted gross profit and adjusted gross margin for the six months ended June 30, 2026, was $25.3 million and 58.3%, respectively, compared with $24.1 million and 57.0% in the same period of the prior year.

Net loss for the six months ended June 30, 2026, was ($6.3) million compared to a net loss of ($52.6) million in the same period of the prior year, primarily due to goodwill impairment in the first quarter of 2025 of $48.0 million. Adjusted EBITDA for the six months ended June 30, 2026, was $2.4 million, compared to adjusted EBITDA of $2.3 million for the same period of the prior year. Cash (used in) provided by operations was ($0.3) million during the six months ended June 30, 2026 compared to $5.7 million in the same period of the prior year.

This press release includes certain financial information presented on an adjusted, or non-GAAP, basis. For additional information on the non-GAAP financial measures included in this press release, see “Use of Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Measures” below.

Third Quarter 2026 Guidance

The Company’s third quarter outlook reflects expected mid-single-digit year-over-year revenue growth at the midpoint of guidance, driven by expected ongoing demand across CMT and new product innovation (NPI) platforms and improving year-over-year profitability on an adjusted EBITDA basis. The Company expects:

·Revenue between $21.0 million and $22.6 million

·Adjusted gross margin between 56% and 58%

·Adjusted EBITDA between $1.5 million and $2.5 million

Full Year 2026 Guidance

The Company is raising its full-year 2026 revenue guidance to

reflect expected strong CMT portfolio momentum and continued adoption of its NPI pipeline, while updating its full-year adjusted gross margin target to account for expected higher-volume of lower-margin CMT product and geographic mix. The Company now expects:

·Revenue growth between 3% and 5%

·Adjusted gross margin between 57% and 59%

·Adjusted EBITDA growth between 6% and 10%

Webcast and Conference Call Details

In conjunction with this announcement, Harvard Bioscience will be hosting a conference call an

EX-99.1

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EXHIBIT 99.1

Exhibit 99.1

Harvard Bioscience Announces First Quarter 2026 Financial Results

·First Quarter 2026 Revenues of $20.8M and Gross Margin of 59%

·Consolidation of Manufacturing Operations Progressing on Schedule

·Reaffirms Full Year 2026 Financial Guidance

HOLLISTON, Mass., May 12, 2026 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) (the “Company” or “Harvard Bioscience”) today announced financial results for the first quarter ended March 31, 2026.

“First quarter revenues were in line with our expectations and gross margin expanded year-over-year, while we remained profitable on an adjusted EBITDA basis,” said John Duke, President and Chief Executive Officer. “We are encouraged by the adoption rates of our NPI portfolio – specifically the MeshMEATM organoid platform, and our BTX® Electroporation and SoHo™ Telemetry systems – which are deepening our reach into the biopharma sector. This shift toward a higher-margin product mix is expected to put us on a path toward consistent 60+% margin and higher recurring revenue. Additionally, our manufacturing consolidation is on track and is expected to yield significant efficiencies and cost savings. Looking ahead, we continue to focus on operational efficiency and believe we remain well positioned for our next phase of growth. We’re reaffirming our full year guidance, which anticipates high margin NPI sales growth driving bottom line growth in the second half of the year.”

First Quarter 2026 Results

For the first quarter of 2026, the Company reported revenues of $20.8 million compared to $21.8 million in the first quarter of 2025. Gross margin for the first quarter of 2026 was 59%, compared to 56% in the first quarter of 2025.

Net loss for the first quarter of 2026 was $(3.4) million, compared to a net loss of $(50.3) million in the first quarter of 2025, which included goodwill impairment of $(48.0) million. Adjusted EBITDA for the first quarter of 2026 was $0.8 million compared to $0.8 million in the first quarter of the prior year. Cash (used) in and provided by operations was $(0.7) million during the three months ended March 31, 2026, compared to $3.0 million in the same period in 2025. The reduction in the cash balance is primarily due to one-time charges related to the process that resulted in the debt refinancing.

This press release includes certain financial information presented on an adjusted, or non-GAAP, basis. For additional information on the non-GAAP financial measures included in this press release, see “Use of Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Measures” below.

Second Quarter 2026 Guidance

The Company’s Q2 outlook reflects year-over-year revenue growth in the mid-single digit range at the midpoint of guidance, margin expansion as NPI adoption scales, and continued profitability on an adjusted EBITDA basis. We expect:

·Revenue between $20.5 million and $22.5 million

·Adjusted gross margin between 57% and 59%

·Adjusted EBITDA between $1.0 and $2.0 million

Full Year 2026 Guidance

The Company is reaffirming its full-year guidance and anticipates

a ramp in revenue in the second half of the year, driven by expected sales growth in our higher margin NPI pipeline, which includes products for organoids and electroporation. The Company continues to expect:

·Revenue growth between 2% and 4%

·Adjusted gross margin between 58% and 60%

·Adjusted EBITDA growth between 6% and 10%

Webcast and Conference Call Details

In conjunction with this announcement, Harvard Bioscience will be hosting a conference call and webcast today at 8:00 a.m. Eastern Time. A presentation that will be referenced during the webcast will be posted to the Company’s Investor Relations website shortly before the webcast begins.

Analysts who would like to join the call and ask a question must register here (https://register-conf.media-server.com/register/BIec8b2ff5898f4554a258f5a3be030ad5). Once registered, you will receive the dial-in numbers and a unique PIN number.

Participants who would like to join the audio-only webcast should go to our events and presentations on the investor website here (https://investor.harvardbioscience.com/events-and-presentations).

Use of Non-GAAP Financial Information

In this press release we have included non-GAAP financial information,

including one or more of adjusted operating income (loss), adjusted operating margin, adjusted gross margin, adjusted net income (loss), adjusted EBITDA, adjusted EBITDA margin, diluted adjusted earnings (loss) per share, and net debt. We believe that this non-GAAP financial information provides investors with an enhanced understanding of the underlying operations of our business. For the periods presented, these non-GAAP financial measures have excluded certain expenses and income resulting from items that we do not believe are reflective of the underlying operations of the business. Items excluded include stock-b

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 12, 2026

HARVARD BIOSCIENCE, INC.

(Exact name of registrant as specified in its charter)

Delaware 001-33957 04-3306140

(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

84 October Hill Road

Holliston, MA 01746

(Address of Principal Executive Offices) (Zip Code)

(508) 893-8999

(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $0.01 par value

HBIO

The NASDAQ Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On March 12, 2026, Harvard Bioscience, Inc. (the “Company”) issued a press release announcing financial results for the three and twelve months ended December 31, 2025, and the details of a related conference call to be held at 8:00 AM ET on March 12, 2026. The press release is furnished as Exhibit 99.1 and incorporated herein by reference.

The information in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number

Description

99.1

Press Release issued by Harvard Bioscience, Inc. on March 12, 2026

104

Cover Page Interactive Data File (embedded within the XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HARVARD BIOSCIENCE, INC.

Date: March 12, 2026 By: /s/ Mark Frost

Mark Frost

Chief Financial Officer