Harvard Bioscience reported Q4 2025 revenue of USD 23.7 million, down 5%, and gross margin of 59.7%, up 3 percentage points, mainly due to cost containment actions and favorable product mix. Q4 2025 net loss was USD 2.8 million and adjusted EBITDA was USD 3.8 million. For FY 2025, revenue was USD 86.6 million, down 8%, with the decline attributed to a challenging global market and reduced spending by CROs, distributors and academic research institutions. FY 2025 net loss was USD 56.7 million, reflecting a USD 48 million goodwill impairment, while adjusted EBITDA was USD 8.1 million. The company said interim CFO Mark Frost was appointed CFO on a permanent basis and it introduced FY 2026 guidance reflecting anticipated revenue growth driven by new products for translational science.
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