Slide 1: Q2'23 Earnings Presentation
Enabling discovery, safety and production of tomorrow’s therapeutics NASDAQ: HBIO Q2’23 Earnings Presentation Jim Green, Chairman, President & CEO Jennifer Cote, CFO/Treasurer August 08, 2023
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements and Non-GAAP Financial Information Forward-Looking Statements This document contains forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward- looking statements may be identified
Slide 3: CEO Summary: Q2'23 Highlights
CEO Summary: Q2’23 Highlights Continuing our strong start to the year Income Statement Components Q2' 2023 Q2' 2022 Revenue (GAAP) 28.8 29.2 Growth Rate (1.5%) Favorable FX Impact 0.1 Net Reduction in Discontinued Products vs Q2’22 1.6 Gross Margin 16.7 16.6 % of Revenue 58.0% 57.0% Adj. Operating P
Slide 4: 2023 Q2 Revenue by Product Family
2023 Q2 Revenue by Product Family (in $M) Q2 Q2 Comments 2023 2022 Vs. Q2’22** Cellular & 13.5* 15.3 -12.3% Cellular and Molecular Product Revenue were down (12.0%) as reported, down (12.3%) Molecular adjusted for currency and down (3.6%) when also adjusted for discontinued products o Strong growth
Slide 5: Electrophysiology
NPI: Leading MEA Technology Academic Labs / Discovery Advanced cell-based testing supports penetration of CROs & BioPharma applications Research & Discovery, Bridge to Bio-Production Pre-Clinical Toxicology & Safety Pharmacology MOLECULES CELLS ORGANOIDS PRECLINICAL CLINICAL /ORGANS Advanced Cellula
Slide 6: Financial Section
Financial Section 6
Slide 7: Q2'23 Performance versus Q2'22
Q2’23 Performance versus Q2’22 Revenue $28.8, down 1.5% (+$0.1M Currency) Gross Margin (GAAP) 58.0% vs. 57.0% Adj. Operating Income* $3.6M vs. $3.1M Adj. EBITDA* $3.9M vs. $3.4M Cash Flow from Operations +$3.6M vs. ($0.2M) Net Debt ** $37.8M improved from $43.2M in Q4’22 Diluted (Loss) Earnings per
Slide 8: 2023 Outlook
2023 Outlook 8
Slide 9: 2023 Outlook: Looking Forward
2023 Outlook: Looking Forward New Products Introductions and Service Offerings to Drive Future Growth For FY2023, we expect: Reported revenue in the $116 to $120 million range, includes approx. 4 percentage points of discontinued products compared to 2022 Gross Margins to remain strong in the 60
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) Q1'22 Q2'22 Q3'22 Q4'22 FY'22 Q1'23* Q2'23* Cellular & Molecular 14.2 15.3 14.2 14.1 57.8 14.2 13.5 Product Lines - constant currency* Currency ADJ (0.3) 0.0 Cellular & Molecular 14.2 15.3 14.2 14.1 57.8 1
Slide 12: GAAP to Non-GAAP Reconciliation: Three Months and Six Months Ended June 2023
GAAP to Non-GAAP Reconciliation: Three Months and Six Months Ended June 2023 12 12