Harvard Bioscience (NASDAQ:HBIO) posted a heavy net loss for fiscal 2025, a result dominated by a one-time accounting charge that overshadowed a year of steady operational progress in its core specialized laboratory equipment business.
The Holliston, Massachusetts-based company reported a net loss of $56.7 million for the full year, compared to a much narrower gap in the prior period.
The deficit was driven almost entirely by a $48 million non-cash goodwill impairment charge, reflecting a write-down in the book value of certain assets.
Despite the bottom-line pressure, full-year revenue reached $86.6 million, with fourth-quarter sales contributing $23.7 million to the total.
On an operational basis, the company showed signs of resilience.
Gross margins remained robust, hitting 59.7% in the fourth quarter and 57.7% for the full year.
This pricing power helped the firm generate $8.1 million in adjusted EBITDA for 2025.
In a move to stabilize its executive ranks amid the restructuring of its balance sheet, the company also announced that interim finance chief Mark Frost has been named permanent Chief Financial Officer.