Slide 1: Q4’22 Earnings Presentation
Enabling discovery, safety and production of tomorrow’s therapeutics NASDAQ: HBIO Q4’22 Earnings Presentation Jim Green, Chairman, President & CEO Jennifer Cote, Interim CFO March 9, 2023
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements and Non-GAAP Financial Information Forward-Looking Statements Information in this presentation or in oral statements of the management of the Company may include forward-looking statements within the meaning of the federal securities laws, including the Private Securities
Slide 3: CEO Summary: Q4’22 Highlights
CEO Summary: Q4’22 Highlights “Organizational restructuring complete and setup for success in 2023!” Income Statement Components Q4' 2022 Q4' 2021 Revenue 28.4 33.1 Growth Rate -14% FX Impact 1.0 Adj. Gross Margin* 16.3 19.7 % of Revenue 57% 60% Adj. Operating Profit* 3.4 5.3 % of Revenue 12% 16% Ad
Slide 4: 2022 Q4 Revenue by Product Family
2022 Q4 Revenue by Product Family (in $M) Q4 Q4 Comments 2022 2021 Vs. Q4’21 Cellular & 14.7* 14.9 -2% Cellular and Molecular Product Revenue adjusted for currency and a small Molecular change in discontinued products was roughly flat to prior year o Solid growth in APAC was offset by slowness in th
Slide 5: Q4 New Product Launches Drive Growth, Expand Consumables and Services
Q4 New Product Launches Drive Growth, Expand Consumables and Services Research & Discovery, Bridge to Bio-Production Pre-Clinical Toxicology & Safety Pharmacology MOLECULES CELLS ORGANOIDS ORGANS PRECLINICAL CLINICAL Consumable Flatpack Premium U7500 “Exclusive” Glucose Reaction Chamber Spectrophoto
Slide 6: Financial Section
Financial Section 6
Slide 7: Q4’22 Performance versus Q4’21
Q4’22 Performance versus Q4’21 Revenue ($M) Revenue $28.4M, down 14% (-$1M Currency) Gross Margin (GAAP) 55.7% vs. 59.2% Adj. Gross Margin* 57.2% vs. 59.6% 28.4 33.1 Adj. Operating Income / Margin* $3.4M vs. $5.3M Adj . EBITDA* $3.7M vs. $5.7M Q4’22 Q4’21 Adj. EBITDA * Cash Flow from Operations +$2.
Slide 8: 2023 Outlook
2023 Outlook 8
Slide 9: 2023 Outlook: Looking Forward
2023 Outlook: Looking Forward New product introductions, focus on consumables and services drive new growth For FY2023, we expect: ▪ Reported revenue growth low-to-mid single digit range, includes ~4 percentage points of discontinued products ▪ Improved gross margins with significant expansion of ad
Slide 10: Appendix
Appendix 10
Slide 11: Revenue By Product Family
Revenue By Product Family -Including GAAP to Non-GAAP constant currency reconciliation (in $M) Q1'21 Q2'21 Q3'21 Q4'21 FY'21 Q1'22* Q2'22* Q3'22* Q4'22* FY'22* Cellular & Molecular 13.6 13.6 14.1 14.9 56.2 14.5 16.0 15.0 14.7 60.2 Product Lines - constant currency* Currency ADJ (0.3) (0.7) (0.8) (0.
Slide 12: GAAP to Non-GAAP Reconciliation: Three Months and Full Year Ended December 2022
GAAP to Non-GAAP Reconciliation: Three Months and Full Year Ended December 2022 HARVARD BIOSCIENCE, INC. Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited) (in thousands, except per share data) Three Months Ended Year Ended Statement of Operations December 31, 2022 December 31, 2021 D