Harvard Apparatus Regenerative Technology Inc. reported its financial results for the second quarter of 2025, revealing a decrease in revenue compared to the same period in 2024. The company recorded revenues of $20.5 million for Q2 2025, down from $23.1 million in Q2 2024. The gross margin also experienced a reduction, coming in at $11.5 million, compared to $13.2 million in the prior year. Despite these declines, the company managed to reduce its operating loss to $0.8 million, an improvement from the $2.1 million loss reported in the previous year. The adjusted operating income for the quarter rose to $1.0 million, compared to $0.8 million in Q2 2024, and the adjusted EBITDA increased to $1.5 million from $1.3 million in the same period last year. The company attributed some revenue declines to macroeconomic factors, such as tariffs in China affecting APAC sales and NIH/ACA funding uncertainty impacting U.S. pre-clinical sales. Regionally, the Americas experienced a 5.4% sequential decrease in overall revenue, and an 11.7% decline year-over-year. In contrast, EMEA saw a sequential revenue increase of 9.3%, although it was down slightly by 0.3% year-over-year. The APAC region faced a substantial sequential decrease of 25.7% and a 25.4% decline year-over-year, mainly due to tariffs. The company continues to focus on cost management and is working to stabilize its CMT segment, particularly in the academic sector, which has been affected by budget uncertainties.