HARVARD BIOSCIENCE INC Management's Discussion and Analysis of Financial Condition andResults of Operations. (form 10-Q)

Published: 2022-05-04 16:20:20 ET HBIO

Forward-Looking Statements

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Selected Results of Operations

Sales and marketing expenses

General and administrative expenses

Research and development expenses

Amortization of intangible assets

Amortization of intangible asset expenses were $1.5 million for both the three months ended March 31, 2022, and March 31, 2021.

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Interest expense was $0.4 million for both the three months ended March 31, 2022, and March 31, 2021.

Liquidity and Capital Resources

As of March 31, 2022, we held cash and cash equivalents of $5.4 million, compared with $7.8 million at December 31, 2021. Borrowings outstanding was $50.0 million and $49.4 million as of March 31, 2022 and December 31, 2021, respectively.

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Cash (used in) provided by operating activities $ (1,986 ) $

1,037

Cash used in investing activities was $0.5 million and $0.3 million for the three months ended March 31, 2022 and 2021, respectively, primarily consisting of capital expenditures in manufacturing and information technology infrastructure.

The critical accounting policies underlying the accompanying unaudited consolidated financial statements are those set forth in Part II, Item 7 included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021.

Recently Issued Accounting Pronouncements

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