HARVARD BIOSCIENCE INC
HBIONasdaqHealthcare · Laboratory Analytical Instruments · DE · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $86.5M | $94.1M | $112.3M | $113.3M | $118.9M | $102.1M |
| Operating income | −$48.6M | −$6.2M | $1.9M | −$6.9M | $2.1M | $221,000 |
| Net income | −$56.7M | −$12.4M | −$3.4M | −$9.5M | −$288,000 | −$7.8M |
| Total assets | $80.1M | $126.6M | $137.4M | $145.4M | $162.3M | $156.3M |
| Total liabilities | $66.3M | $63.3M | $64.3M | $73.1M | $78.9M | $79.6M |
| Equity | $13.7M | $63.3M | $73.1M | $72.2M | $83.4M | $76.7M |
| EPS (diluted) | $-1.28 | $-0.28 | $-0.08 | $-0.23 | $-0.01 | — |
| Shares out. | 44.1M | 43.4M | 42.2M | 41.2M | 39.8M | 38.3M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −56.1%
- Net margin
- −65.5%
- Return on equity
- −412.8%
- Return on assets
- −70.8%
- Return on capital (ROCE)
- −83.6%
- Liabilities / assets
- 82.8%
- Debt / equity
- 4.83×
- Book value / share
- $0.31
- Revenue growth (YoY)
- −8.1%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -10.45distress
- Accruals / assets
- −79.2%clean
- Beneish M-Score
- -6.48normal
- Piotroski F-Score
- 4/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 2 severe● 4 warning● 2 good- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Operating losses (negative operating margin)
- Reported a net loss
- Revenue declined year-over-year
- High leverage (liabilities > 70% of assets)
- Positive operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Kmissed a reporting deadline ↗Mar 17, 2017
- NT 10-Qmissed a reporting deadline ↗May 10, 2016
- NT 10-Kmissed a reporting deadline ↗Mar 14, 2016
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 120,933 | 3.4 | -29.2% |
| Apr 30, 2026 | 170,730 | 4.1 | -29.9% |
| Apr 15, 2026 | 243,452 | 2.5 | +187.2% |
| Mar 31, 2026 | 84,759 | 1.3 | -82.1% |
| Mar 13, 2026 | 473,057 | 1.1 | +4.3% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Regulation FD disclosureMay 12, 2026
- Results of operationsMay 12, 2026
- Regulation FD disclosureMar 17, 2026
- Results of operationsMar 12, 2026
- Director / officer changeMar 10, 2026
- Shareholder vote · Regulation FD disclosure · Other material eventMar 6, 2026
- Results of operationsFeb 10, 2026
- Costs from exit or disposal · Regulation FD disclosureJan 29, 2026
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- SDFORM SDMay 27, 2026
- SCHEDULE 13G/AMay 14, 2026
- 10-QFORM 10-QMay 12, 2026
- 8-KFORM 8-KMay 12, 2026
- 8-KFORM 8-KMay 12, 2026
- DEFA14AFORM DEFA14AApr 21, 2026
- DEF 14AFORM DEF 14AApr 21, 2026
- 4Apr 1, 2026
- 4Apr 1, 2026
- 4Mar 23, 2026
- SCHEDULE 13DMar 23, 2026
- 4Mar 18, 2026
- 4Mar 18, 2026
- 4Mar 17, 2026
- 8-KFORM 8-KMar 17, 2026
Corporate family
Spin-offs from HARVARD BIOSCIENCE INC (1)
- Harvard Apparatus Regenerative Technology, Inc.HRGNcompletedNov 1, 2013details
From the spin-off filings we track. Follow a company to walk its own history.
Event-driven situations (2)
Spot an error in this record? Report it. Every correction is verified against the source filing before we change anything.