Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $105M | $77.4M | $121M | $116M | $102M | $119M | $113M | $112M | $94.1M | $86.5M |
| Revenue growth | — | -25.9% | 56.0% | -3.8% | -12.1% | 16.5% | -4.7% | -1.0% | -16.1% | -8.1% |
| Gross profit | $48.4M | $39.2M | $63.2M | $64.3M | $58.0M | $67.7M | $60.8M | $66.1M | $54.8M | $49.9M |
| Gross margin | 46.3% | 50.6% | 52.3% | 55.4% | 56.8% | 56.9% | 53.7% | 58.9% | 58.2% | 57.7% |
| Operating income | -$3.00M | -$635K | $984K | $377K | $221K | $2.07M | -$6.93M | $1.89M | -$6.21M | -$48.6M |
| Operating margin | -2.9% | -0.8% | 0.8% | 0.3% | 0.2% | 1.7% | -6.1% | 1.7% | -6.6% | -56.1% |
| Net income | -$4.31M | -$865K | -$2.92M | -$4.69M | -$7.81M | -$288K | -$9.52M | -$3.42M | -$12.4M | -$56.7M |
| Net margin | -4.1% | -1.1% | -2.4% | -4.0% | -7.6% | -0.2% | -8.4% | -3.0% | -13.2% | -65.5% |
| EPS (diluted) | -$0.13 | -$0.02 | -$0.08 | -$0.12 | -$0.20 | -$0.01 | -$0.23 | -$0.08 | -$0.28 | -$1.28 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.38M | $1.06M | $2.88M | $8.04M | $9.33M | $1.26M | $1.15M | $14.0M | $1.44M | $6.73M |
| Capital expenditures | — | $890K | $986K | $1.22M | $1.15M | $1.20M | $1.59M | $1.79M | $2.64M | $1.26M |
| Free cash flow | — | $167K | $1.90M | $6.83M | $8.18M | $67.0K | -$438K | $12.2M | -$1.20M | $5.47M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $5.60M | $5.19M | $8.17M | $8.34M | $8.32M | $7.82M | $4.51M | $4.28M | $4.11M | $8.61M |
| Total assets | $108M | $109M | $169M | $165M | $156M | $162M | $145M | $137M | $127M | $80.1M |
| Total liabilities | $35.6M | $28.5M | $85.9M | $83.2M | $79.6M | $78.9M | $73.1M | $64.3M | $63.3M | $66.3M |
| Long-term debt | $11.4M | $8.98M | $54.8M | $46.9M | $46.3M | $45.1M | $43.0M | $30.7M | $0.00 | $35.9M |
| Shareholders' equity | $72.2M | $80.9M | $82.7M | $81.7M | $76.7M | $83.4M | $72.2M | $73.1M | $63.3M | $13.7M |
| Retained earnings | -$116M | -$117M | -$120M | -$125M | -$132M | -$133M | -$142M | -$146M | -$158M | -$215M |
| Shares (wtd avg diluted) | 34.2M | 34.8M | 36.5M | 37.8M | 38.6M | 40.3M | 41.4M | 42.4M | 43.5M | 44.4M |
Every figure is extracted from HARVARD BIOSCIENCE INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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