HARVARD BIOSCIENCE INC
For the period ended Sep 30, 2024. Filed Nov 8, 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.
Sep 30, 2024 · Filed Nov 8, 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)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(12,423) | $(1,597) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Depreciation | 1,268 | 1,083 |
| Amortization of intangible assets | 4,129 | 4,138 |
| Amortization of deferred financing costs | 229 | 210 |
| Stock-based compensation | 3,379 | 3,618 |
| Deferred income taxes and other | (361) | 92 |
| Loss on equity securities - Note 6 | 1,593 | 373 |
| Loss on pension settlement - Note 16 | 1,243 | - |
| Gain on sale of product line - Note 14 | - | (403) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 3,303 | 1,751 |
| Inventories | (2,416) | 173 |
| Other assets | 873 | (50) |
| Accounts payable and other liabilities | (283) | (298) |
| Contract liabilities | (819) | 635 |
| Net cash (used in) provided by operating activities | (285) | 9,725 |
| Cash flows from investing activities: | ||
| Additions to property, plant and equipment | (2,343) | (958) |
| Capitalized software development costs | (454) | (292) |
| Proceeds from sale of product line | - | 512 |
| Proceeds from sale of marketable equity securities | 1,919 | - |
| Net cash used in investing activities | (878) | (738) |
| Cash flows from financing activities: | ||
| Borrowing from revolving line of credit | 8,800 | 3,500 |
| Repayment of revolving line of credit | (2,550) | (8,450) |
| Repayment of term debt | (5,023) | (3,341) |
| Payment of debt issuance costs | (161) | - |
| Proceeds from exercise of stock options and employee stock purchase plan | 219 | 724 |
| Taxes paid related to net share settlement of equity awards | (59) | (451) |
| Net cash provided by (used in) financing activities | 1,226 | (8,018) |
| Effect of exchange rate changes on cash | 223 | (137) |
| Increase in cash and cash equivalents | 286 | 832 |
| Cash and cash equivalents at beginning of period | 4,283 | 4,508 |
| Cash and cash equivalents at end of period | $4,569 | $5,340 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $2,369 | $3,006 |
| Cash paid for income taxes, net of refunds | $315 | $168 |
**NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
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