HARVARD BIOSCIENCE INC Segments Disclosure

18.	Segment Information

 

The Company conducts business as a single operating segment which is based upon the Company’s organizational and management structure, as well as information used by the CODM to allocate resources and other factors. The accounting policies of the segment are the same as those described in Note 2.

 

The key measure of segment profitability that the CODM uses to allocate resources and assess performance is consolidated net income (loss), as reported on the consolidated statements of operations. The CODM utilizes consolidated net loss by comparing actual results against budgeted amounts on a quarterly basis. The following table presents the significant revenue and expense categories of the Company’s single operating segment:

 

		Year Ended December 31,
		2025				2024
Revenues		$	86,550			$	94,135
Less:
Cost of revenues (1)			36,537				39,247
Sales and marketing expenses (1)			18,757				21,613
General and administrative expenses (1)			16,803				18,328
Research and development expenses (1)			8,471				9,952
Amortization of acquired intangibles			4,027				5,255
Interest expense			4,917				3,536
Income tax (benefit) expense			(686	)			740
Goodwill impairment			47,951				-
Other segment expenses (2)			6,473				7,869
Net loss		$	(56,700	)		$	(12,405	)

 

(1)

Excludes stock-based compensation expense

(2)

Includes stock-based compensation, other operating expenses, loss on pension settlement, loss on equity securities and other expense

 

 

Asset information provided to the CODM is consistent with that reported on the consolidated balance sheets with particular emphasis on the Company’s available liquidity, including its cash, accounts receivable, and inventory, reduced by current liabilities. Information relating to the Company’s products and services and geographical distribution of revenues is disclosed in Note 3.