Harvard Bioscience Reports Q3 2026 Revenue Growth Driven by Organoid Technologies
Harvard Bioscience (HBIO) reported third-quarter revenue of $22.2 million, an 8% increase year-over-year, fueled primarily by preclinical platforms and organoid products. While the company saw significant growth in China (+31%) and the Americas (+9%), it faced headwinds in Europe due to a weak academic environment. The expansion into commercial channels has successfully reduced the company's reliance on the academic market, which now accounts for 40% of revenue compared to 50% previously. Despite top-line growth, profitability metrics were pressured by a shift toward lower-margin products and increased distribution volume. Adjusted EBITDA fell to $1.8 million from $2 million in the prior year. Consequently, the company lowered its full-year adjusted EBITDA guidance to between negative 1% and 4% growth. Looking ahead, management is focusing on 'Project Viking' to consolidate manufacturing and achieve significant annual cost savings starting in 2027.
Topics: EBITDA Financial Guidance Gross Margin Regional Revenue Performance Revenue Growth