The following is a summary of the Harvard Bioscience, Inc. (HBIO) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Harvard Bioscience reported Q2 2024 revenue of $23.1 million, down $5.7 million from the previous year.

• Gross margin for Q2 2024 was 57.2%, slightly lower than last year's 58% due to lower absorption of fixed manufacturing costs.

• Operating profit on an adjusted basis was $800,000 or 3.5% of revenue, with adjusted EBITDA at $1.3 million or 5.5% of revenue.

• Cash flow from operations for the first half of 2024 was $0.6 million, significantly lower compared to $5.4 million in the same period last year.

Business Progress:

• The company indicated a shift towards product innovation with new telemetry devices and neurobehavioral monitoring systems expected to boost revenues.

• Commercial introduction of new products in electroporation and bioproduction projects, along with a CGMP-compliant amino acid analysis system for bioprocessing applications.

• Installation of MEA Organoid platforms for in-vitro data acquisition, particularly in neuro and cardiac toxicology applications, setting up a full production launch in Q1 2025.

Opportunities:

• New product launches and innovations set to contribute to revenue streams and underpin long-term double-digit growth.

• Increased quoting and funnel activity in China and Asia Pacific signals potential revenue stabilization and growth from academic sectors.

Risks:

• Continued challenges from lower capital spending by CROs and pharma in the US and Europe affecting preclinical product shipments.

• Economic factors including interest rates and energy costs additionally constrain spending in Europe.

More details: Harvard Bioscience IR

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