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Companies / Health Care / Harvard Bioscience, Inc.
HBIO

Harvard Bioscience, Inc.

Health CareMedical Instruments
Ticker HBIOHOLLISTON, MAFiscal year ends DecemberBook value per share $0.18Diluted shares 40.3M

Harvard Bioscience, Inc. (Nasdaq: HBIO) develops, manufactures and sells life-science instruments, consumables, software and services for research, drug and therapy discovery, bioproduction and preclinical testing. Its customers include pharmaceutical and biotechnology companies, contract research organizations,… From the company’s description.

Over the twelve months to Jun 30, 2026, Harvard Bioscience, Inc. reported revenue of $87.81M, down 1.1% from a year earlier, and a net loss of $10.41M. Its operating margin was −0.3%, and operations generated $0.65M in cash. In fiscal 2025, it reported revenue of $86.55M, down 8.1% from fiscal 2024, and a net loss of $56.70M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$86.55MFY2025
−8.1% year over year
Last 12 mo $87.81M
-56.13%FY2025
−49.5 percentage points
Last 12 mo -0.28%
$-56.70MFY2025
−357.1% year over year
Last 12 mo $-10.41M
-59.53%FY2025
−39.9 percentage points
Last 12 mo -140.36%
Cash & financing
$6.73MFY2025
+367.3% year over year
Last 12 mo $0.65M
$4.87MFY2025
+366.9% year over year
Last 12 mo $-1.83M
2.61FY2025
Was 0.58× a year earlier
Last 12 mo 4.94
—

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Harvard Bioscience, Inc. does

In the company’s own words

Harvard Bioscience, Inc. (Nasdaq: HBIO) develops, manufactures and sells life-science instruments, consumables, software and services for research, drug and therapy discovery, bioproduction and preclinical testing. Its customers include pharmaceutical and biotechnology companies, contract research organizations, universities, hospitals and government laboratories, served through direct sales and distributors worldwide. The company organizes its products into two families: Cellular and Molecular (CMT), which supports molecular, cellular, organ and organoid research and accounted for 46% of 2025 revenue; and Preclinical, which provides systems for physiological data collection and analysis in drug research and development and accounted for 54%. Third-party product distribution also contributed 13% of revenue in 2025. Brands include Harvard Apparatus, BTX, HEKA, KD Scientific, Warner, DSI, Panlab and Buxco. Founded as Harvard Apparatus in 1901, the company expanded into preclinical testing through its 2018 acquisition of Data Sciences International. It had 339 employees as of December 31, 2025. Its website is www.harvardbioscience.com.

Company details
Sector
Health Care
Industry (SIC)
Medical Instruments
Headquarters
HOLLISTON, MA
Fiscal year end
December
CIK
1123494
SIC
3826

Financial performance, year by year

Fiscal 2011–2025 · USD
$-74.45M$-21.21M$32.04M$85.28M$138.52M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Harvard Bioscience, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

15
funds hold it
0 of 35
superinvestors hold it
$1.43M
held by funds, at market
5.2%
of shares held by funds

Largest fund holders · Harvard Bioscience, Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Fidelity Extended Market Index Fund
FSMAX · Fidelity Concord Street Trust
—of fund net assets
ACUITAS US MICROCAP FUND
AFMCX · FORUM FUNDS II
0.07%of fund net assets
Fidelity Total Market Index Fund
FSKAX · Fidelity Concord Street Trust
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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