Harvard Bioscience Delivers Strong Q2 Performance, Raises Full Year Revenue Outlook
HARVARD BIOSCIENCE DELIVERS STRONG Q2 PERFORMANCE, RAISES FULL YEAR REVENUE OUTLOOK
The Harvard Bioscience second quarter 2026 earnings conference call revealed a stellar performance for the company, highlighted by double-digit revenue growth across its CMT and preclinical portfolios. The company's disciplined focus on strategy, commercial alignment, and operational discipline has yielded impressive results, with revenue coming in strong at $22.7 million, representing an 11% year-over-year increase.
John Duke, President and Chief Executive Officer of Harvard Bioscience, attributed the strong performance to solid demand, particularly from CRO customers and healthy sales across its CMT portfolio. Adjusted gross margin was 57% for the quarter, slightly lower than anticipated due to higher than expected sales from CMT products and sales in China.
The company's preclinical translational challenges are being addressed by researchers adopting Harvard Bioscience's products to generate more predictive, human-relevant data. The company remains focused on its highest growth customer opportunities and continues to strengthen its position with pharmaceutical, biotech, and CRO accounts.
Harvard Bioscience also saw an improvement over the first quarter in its academic segment, driven by double-digit growth within its telemetry and CMT businesses. The company's high margin recurring revenue strategy is showing promise, with recurring revenue increasing to 55% of total revenue in the first half as it continues to work towards its long-term target of 60%. The steady expansion of instrument install base platforms like SoHo and BTX is generating a reliable recurring revenue stream quarter after quarter.
In broader industry trends, preclinical drug candidate pipelines are growing, biopharma spending continues to increase, and CRO activity is expanding. Harvard Bioscience's distribution agreement with Fisher Scientific has delivered strong commercial returns, generating double-digit growth in Q2 while broadening the company's customer reach.
The company's adjusted EBITDA came in at $1.7 million, up 11% year-over-year. This performance reinforces Harvard Bioscience's confidence in raising its full-year revenue outlook.
Harvard Bioscience's strong Q2 performance and strategic focus are translating into tangible operational progress across its customer mix, product portfolio, and recurring revenue profile. As the company continues to execute its strategy, investors can expect further growth and expansion of its business.
The company remains committed to delivering high-quality products and services that meet the evolving needs of its customers. With its strong performance in Q2 2026, Harvard Bioscience is poised for continued success in the future.
