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Side-by-side financial comparison of HARVARD BIOSCIENCE INC (HBIO) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $23.7M, roughly 2.0× HARVARD BIOSCIENCE INC). HARVARD BIOSCIENCE INC runs the higher net margin — -12.0% vs -33.9%, a 21.9% gap on every dollar of revenue. On growth, HARVARD BIOSCIENCE INC posted the faster year-over-year revenue change (-3.3% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs -1.6%).
Harvard Bioscience is a global developer, manufacturer and marketer of life sciences equipment to support research and drug discovery. It is traded on NASDAQ under the stock symbol HBIO.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
HBIO vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $23.7M | $47.1M |
| Net Profit | $-2.8M | $-16.0M |
| Gross Margin | 59.7% | 48.9% |
| Operating Margin | 7.2% | -17.7% |
| Net Margin | -12.0% | -33.9% |
| Revenue YoY | -3.3% | -15.6% |
| Net Profit YoY | -15916.7% | 68.8% |
| EPS (diluted) | $-0.06 | $-4.40 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $23.7M | $47.1M | ||
| Q3 25 | $20.6M | $38.2M | ||
| Q2 25 | $20.4M | $38.4M | ||
| Q1 25 | $21.8M | $32.5M | ||
| Q4 24 | $24.6M | $55.8M | ||
| Q3 24 | $22.0M | $29.3M | ||
| Q2 24 | $23.1M | $34.0M | ||
| Q1 24 | $24.5M | $25.5M |
| Q4 25 | $-2.8M | $-16.0M | ||
| Q3 25 | $-1.2M | $-23.8M | ||
| Q2 25 | $-2.3M | $202.5M | ||
| Q1 25 | $-50.3M | $-25.0M | ||
| Q4 24 | $18.0K | $-51.1M | ||
| Q3 24 | $-4.8M | $-148.3M | ||
| Q2 24 | $-2.9M | $-582.3M | ||
| Q1 24 | $-4.7M | $-72.3M |
| Q4 25 | 59.7% | 48.9% | ||
| Q3 25 | 58.4% | 35.5% | ||
| Q2 25 | 56.4% | 33.4% | ||
| Q1 25 | 56.0% | 32.4% | ||
| Q4 24 | 57.1% | -4.4% | ||
| Q3 24 | 58.1% | 21.2% | ||
| Q2 24 | 57.2% | 27.6% | ||
| Q1 24 | 60.3% | -95.0% |
| Q4 25 | 7.2% | -17.7% | ||
| Q3 25 | 1.0% | -33.6% | ||
| Q2 25 | -4.0% | -34.8% | ||
| Q1 25 | -228.1% | -65.0% | ||
| Q4 24 | 0.0% | -84.4% | ||
| Q3 24 | -8.5% | -493.2% | ||
| Q2 24 | -9.0% | -1705.5% | ||
| Q1 24 | -9.3% | -267.0% |
| Q4 25 | -12.0% | -33.9% | ||
| Q3 25 | -6.0% | -62.2% | ||
| Q2 25 | -11.2% | 527.8% | ||
| Q1 25 | -231.2% | -76.9% | ||
| Q4 24 | 0.1% | -91.6% | ||
| Q3 24 | -21.9% | -506.3% | ||
| Q2 24 | -12.7% | -1712.6% | ||
| Q1 24 | -19.1% | -283.9% |
| Q4 25 | $-0.06 | $-4.40 | ||
| Q3 25 | $-0.03 | $-2.84 | ||
| Q2 25 | $-0.05 | $-1.79 | ||
| Q1 25 | $-1.14 | $-0.15 | ||
| Q4 24 | $0.01 | $-15.29 | ||
| Q3 24 | $-0.11 | $-18.24 | ||
| Q2 24 | $-0.07 | $-71.81 | ||
| Q1 24 | $-0.11 | $-0.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.6M | $48.9M |
| Total DebtLower is stronger | $35.9M | — |
| Stockholders' EquityBook value | $13.7M | $-249.4M |
| Total Assets | $80.1M | $308.9M |
| Debt / EquityLower = less leverage | 2.61× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.6M | $48.9M | ||
| Q3 25 | $6.8M | $43.1M | ||
| Q2 25 | $7.4M | $40.8M | ||
| Q1 25 | $5.5M | $58.6M | ||
| Q4 24 | $4.1M | $56.3M | ||
| Q3 24 | $4.6M | $75.4M | ||
| Q2 24 | $4.0M | $89.6M | ||
| Q1 24 | $4.3M | $112.8M |
| Q4 25 | $35.9M | — | ||
| Q3 25 | $34.0M | — | ||
| Q2 25 | $34.9M | — | ||
| Q1 25 | $36.4M | — | ||
| Q4 24 | $37.0M | — | ||
| Q3 24 | $34.9M | — | ||
| Q2 24 | $35.7M | — | ||
| Q1 24 | $35.6M | — |
| Q4 25 | $13.7M | $-249.4M | ||
| Q3 25 | $14.1M | $-235.7M | ||
| Q2 25 | $15.7M | $-214.1M | ||
| Q1 25 | $14.8M | $-417.5M | ||
| Q4 24 | $63.3M | $-398.4M | ||
| Q3 24 | $65.3M | $-344.1M | ||
| Q2 24 | $67.2M | $-203.2M | ||
| Q1 24 | $68.8M | $371.6M |
| Q4 25 | $80.1M | $308.9M | ||
| Q3 25 | $78.0M | $362.6M | ||
| Q2 25 | $80.1M | $379.2M | ||
| Q1 25 | $79.8M | $405.1M | ||
| Q4 24 | $126.6M | $437.4M | ||
| Q3 24 | $131.2M | $537.8M | ||
| Q2 24 | $128.9M | $691.5M | ||
| Q1 24 | $133.2M | $1.3B |
| Q4 25 | 2.61× | — | ||
| Q3 25 | 2.41× | — | ||
| Q2 25 | 2.22× | — | ||
| Q1 25 | 2.45× | — | ||
| Q4 24 | 0.58× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.53× | — | ||
| Q1 24 | 0.52× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-96.0K | $8.2M |
| Free Cash FlowOCF − Capex | $-545.0K | — |
| FCF MarginFCF / Revenue | -2.3% | — |
| Capex IntensityCapex / Revenue | 1.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $5.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-96.0K | $8.2M | ||
| Q3 25 | $1.1M | $11.4M | ||
| Q2 25 | $2.8M | $-21.3M | ||
| Q1 25 | $3.0M | $8.5M | ||
| Q4 24 | $1.7M | $-14.7M | ||
| Q3 24 | $-842.0K | $-9.4M | ||
| Q2 24 | $-846.0K | $-11.9M | ||
| Q1 24 | $1.4M | $-621.0K |
| Q4 25 | $-545.0K | — | ||
| Q3 25 | $877.0K | — | ||
| Q2 25 | $2.7M | — | ||
| Q1 25 | $2.5M | — | ||
| Q4 24 | $1.4M | — | ||
| Q3 24 | $-1.7M | — | ||
| Q2 24 | $-1.7M | — | ||
| Q1 24 | $758.0K | — |
| Q4 25 | -2.3% | — | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 11.4% | — | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | -7.8% | — | ||
| Q2 24 | -7.2% | — | ||
| Q1 24 | 3.1% | — |
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 1.2% | — | ||
| Q3 24 | 4.0% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 2.6% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | 95.83× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HBIO
| Instruments Equipment Software And Accessories | $21.6M | 91% |
| Service Maintenance And Warranty Contracts | $2.1M | 9% |
STEM
Segment breakdown not available.
