HARVARD BIOSCIENCE INC
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
HBIO$9.26+1.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
HARVARD BIOSCIENCE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(12,405) | $(3,415) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation | 1,727 | 1,473 |
| Amortization of intangible assets | 5,430 | 5,525 |
| Amortization of deferred financing costs | 327 | 280 |
| Stock-based compensation | 4,340 | 5,000 |
| Deferred income taxes and other | 363 | 336 |
| Loss on equity securities - Note 12 | 1,593 | 632 |
| Gain on sale of product line - Note 17 | - | (403) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 974 | 810 |
| Inventories | (64) | 1,524 |
| Other assets | 1,642 | 1,651 |
| Accounts payable and other liabilities | (1,785) | (523) |
| Contract liabilities | (702) | 1,138 |
| Net cash provided by operating activities | 1,440 | 14,028 |
| Cash flows from investing activities: | ||
| Additions to property, plant and equipment | (2,644) | (1,788) |
| Capitalized software development costs | (619) | (523) |
| Proceeds from sale of product line | - | 512 |
| Proceeds from sale of marketable equity securities | 1,919 | - |
| Net cash used in investing activities | (1,344) | (1,799) |
| Cash flows from financing activities: | ||
| Borrowing from revolving line of credit | 8,800 | 4,500 |
| Repayment of revolving line of credit | (2,550) | (10,950) |
| Repayment of term debt | (6,023) | (4,091) |
| Payment of debt issuance costs | (161) | - |
| Proceeds from exercise of stock options and employee stock purchase plan | 380 | 930 |
| Taxes paid related to net share settlement of equity awards | (577) | (2,523) |
| Net cash used in financing activities | (131) | (12,134) |
| Effect of exchange rate changes on cash | (140) | (320) |
| Decrease in cash and cash equivalents | (175) | (225) |
| Cash and cash equivalents at beginning of period | 4,283 | 4,508 |
| Cash and cash equivalents at end of period | $4,108 | $4,283 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $3,235 | $3,795 |
| Cash paid for income taxes, net of refunds | $(159) | $207 |
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