HARVARD BIOSCIENCE INC
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
HBIO$9.26+1.9%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
| HARVARD BIOSCIENCE, INC. | ||
|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||
| (Unaudited, in thousands) | ||
| Three Months Ended March 31, | ||
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net (loss) income | $(4,694) | $622 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
| Depreciation | 404 | 333 |
| Amortization of intangible assets | 1,377 | 1,388 |
| Amortization of deferred financing costs | 70 | 70 |
| Stock-based compensation expense | 1,048 | 1,153 |
| Deferred income taxes and other | 178 | (55) |
| Loss on equity securities - Note 6 | 1,312 | - |
| Gain on sale of product line - Note 14 | - | (403) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 704 | (923) |
| Inventories | (617) | (292) |
| Other assets | (298) | (308) |
| Accounts payable and other current liabilities | 2,469 | (150) |
| Contract liabilities | (120) | 741 |
| Other liabilities | (430) | (364) |
| Net cash provided by operating activities | 1,403 | 1,812 |
| Cash flows from investing activities: | ||
| Additions to property, plant and equipment | (645) | (224) |
| Capitalized software development costs | (75) | - |
| Proceeds from sale of product line | - | 512 |
| Proceeds from sale of marketable equity securities | 495 | - |
| Net cash (used in) provided by investing activities | (225) | 288 |
| Cash flows from financing activities: | ||
| Borrowing from revolving line of credit | 2,500 | 1,500 |
| Repayment of revolving line of credit | (500) | (2,500) |
| Repayment of term debt | (3,023) | (1,841) |
| Proceeds from exercise of stock options and employee stock purchase plan | 15 | 104 |
| Taxes paid related to net share settlement of equity awards | (47) | (156) |
| Net cash used in financing activities | (1,055) | (2,893) |
| Effect of exchange rate changes on cash | (151) | 74 |
| Decrease in cash and cash equivalents | (28) | (719) |
| Cash and cash equivalents at beginning of period | 4,283 | 4,508 |
| Cash and cash equivalents at end of period | $4,255 | $3,789 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $768 | $1,172 |
| Cash paid for income taxes, net of refunds | $26 | $(134) |
**NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
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