HARVARD BIOSCIENCE INC Segments Disclosure

19.	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,
		2024				2023
Revenues		$	94,135			$	112,250
Less:
Cost of revenues (1)			39,247				45,871
Sales and marketing expenses (1)			21,613				23,362
General and administrative expenses (1)			18,328				19,149
Research and development expenses (1)			9,952				11,378
Amortization of acquired intangibles			5,255				5,525
Interest expense			3,209				3,591
Income tax expense			740				859
Other segment expenses (2)			8,196				5,930
Net loss		$	(12,405	)		$	(3,415	)

 

(1)	Excludes stock-based compensation expense
(2)	Includes stock-based compensation, other operating expenses, 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.