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Harrow Announces Third Quarter 2024 Financial Results

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Harrow (HROW) reported strong Q3 2024 results with revenues increasing 44% year-over-year to $49.3 million. The company posted a GAAP net loss of $(4.2) million and Adjusted EBITDA of $8.8 million. Key highlights include a 55% increase in VEVYE prescriptions over Q2 2024, 15% growth in IHEEZO customer unit demand, and operating cash flow of $3 million. The company maintained strong cash position with $72.6 million in cash and equivalents. Despite Q3 seasonal challenges, management expects Q4 revenue to meaningfully exceed 2024 guidance, driven by positive demand trends for VEVYE, IHEEZO, and TRIESENCE products.

Harrow (HROW) ha riportato risultati solidi per il terzo trimestre del 2024, con un aumento del fatturato del 44% rispetto all'anno precedente, raggiungendo 49,3 milioni di dollari. L'azienda ha registrato una perdita netta GAAP di $(4,2) milioni e un EBITDA rettificato di 8,8 milioni di dollari. Tra i punti salienti si segnalano un aumento del 55% nelle prescrizioni di VEVYE rispetto al secondo trimestre del 2024, una crescita del 15% nella domanda di unità per il prodotto IHEEZO e un flusso di cassa operativo di 3 milioni di dollari. L'azienda ha mantenuto una solida posizione di liquidità con 72,6 milioni di dollari in contante e equivalenti. Nonostante le sfide stagionali del terzo trimestre, la direzione prevede che il fatturato del quarto trimestre supererà in modo significativo le indicazioni del 2024, sostenuto da tendenze di domanda positive per i prodotti VEVYE, IHEEZO e TRIESENCE.

Harrow (HROW) reportó resultados sólidos en el tercer trimestre de 2024, con un aumento del 44% en los ingresos en comparación con el año anterior, alcanzando 49,3 millones de dólares. La compañía presentó una pérdida neta GAAP de $(4,2) millones y un EBITDA ajustado de 8,8 millones de dólares. Entre los aspectos destacados se incluye un aumento del 55% en las recetas de VEVYE en comparación con el segundo trimestre de 2024, un crecimiento del 15% en la demanda de unidades del cliente de IHEEZO y un flujo de efectivo operativo de 3 millones de dólares. La empresa mantuvo una sólida posición de liquidez con 72,6 millones de dólares en efectivo y equivalentes. A pesar de los desafíos estacionales en el tercer trimestre, la dirección espera que los ingresos del cuarto trimestre superen significativamente las proyecciones de 2024, impulsados por tendencias de demanda positivas para los productos VEVYE, IHEEZO y TRIESENCE.

Harrow (HROW)는 2024년 3분기에 강력한 실적을 보고했으며, 수익이 지난해 대비 44% 증가하여 4,930만 달러에 달했습니다. 이 회사는 GAAP 기준으로 순손실 $(420만 달러)을 기록했으며 조정된 EBITDA는 880만 달러를 기록했습니다. 주요 하이라이트로는 2024년 2분기 대비 VEVYE 처방이 55% 증가하였고, IHEEZO의 고객 단위 수요가 15% 성장하며, 운영 현금 흐름이 300만 달러였다는 점이 있습니다. 이 회사는 7260만 달러의 현금 및 현금성 자산으로 강력한 자산을 유지하고 있습니다. 3분기 계절적 도전에도 불구하고 경영진은 4분기 수익이 2024년 가이던스를 의미 있게 초과할 것으로 기대하고 있으며, 이는 VEVYE, IHEEZO 및 TRIESENCE 제품에 대한 긍정적인 수요 추세에 의해 추진됩니다.

Harrow (HROW) a rapporté des résultats solides pour le troisième trimestre 2024, avec des revenus en hausse de 44 % par rapport à l'année précédente, atteignant 49,3 millions de dollars. L'entreprise a enregistré une perte nette GAAP de $(4,2) millions et un EBITDA ajusté de 8,8 millions de dollars. Parmi les points saillants, on note une augmentation de 55 % des prescriptions de VEVYE par rapport au deuxième trimestre 2024, une croissance de 15 % de la demande d'unités clients pour IHEEZO, et un flux de trésorerie opérationnel de 3 millions de dollars. L'entreprise a maintenu une position de liquidité solide avec 72,6 millions de dollars en espèces et équivalents. Malgré les défis saisonniers du troisième trimestre, la direction s'attend à ce que le chiffre d'affaires du quatrième trimestre dépasse de manière significative les prévisions pour 2024, grâce à des tendances de demande positives pour les produits VEVYE, IHEEZO et TRIESENCE.

Harrow (HROW) berichtete starke Ergebnisse für das dritte Quartal 2024, mit einem Anstieg der Einnahmen um 44 % im Jahresvergleich auf 49,3 Millionen US-Dollar. Das Unternehmen meldete einen GAAP-Nettoverlust von $(4,2) Millionen und ein bereinigtes EBITDA von 8,8 Millionen US-Dollar. Zu den wichtigsten Highlights gehören ein Anstieg der VEVYE-Verschreibungen um 55 % im Vergleich zum zweiten Quartal 2024, ein Wachstum der Kundennachfrage für IHEEZO um 15 % und ein operativer Cashflow von 3 Millionen US-Dollar. Das Unternehmen hielt eine starke Liquiditätsposition mit 72,6 Millionen US-Dollar in Bar und Äquivalenten. Trotz saisonaler Herausforderungen im dritten Quartal erwartet das Management, dass die Einnahmen im vierten Quartal die Prognosen für 2024 erheblich übertreffen werden, angetrieben von positiven Nachfragetendenzen für die Produkte VEVYE, IHEEZO und TRIESENCE.

Positive
  • 44% year-over-year revenue growth to $49.3 million
  • 55% quarter-over-quarter growth in VEVYE prescriptions
  • 15% quarter-over-quarter growth in IHEEZO demand
  • Improved gross margin to 76% from 71% year-over-year
  • Strong cash position of $72.6 million
  • Positive operating cash flow of $3 million
Negative
  • GAAP net loss of $(4.2) million
  • Core net loss of $(1.6) million
  • Decreased Adjusted EBITDA year-over-year from $9.2M to $8.8M

Insights

The Q3 2024 results show mixed signals but with positive underlying momentum. Revenue growth of 44% year-over-year to $49.3 million demonstrates strong market penetration, though the $4.2 million GAAP net loss warrants attention. The improved gross margin of 76% (up from 71%) suggests better operational efficiency.

Key growth drivers include VEVYE's 55% prescription growth and IHEEZO's 15% volume increase. The Medicare Part D win for VEVYE is particularly significant for future revenue potential. With $72.6 million in cash and positive operating cash flow of $3 million, the company maintains a solid financial position to support growth initiatives.

The seasonal revenue shift from Q3 to Q4, combined with management's confidence in exceeding 2024 guidance, suggests strong momentum heading into year-end. The core metrics, while showing losses, indicate improving fundamentals with narrowing core net loss per share.

Third Quarter 2024 and Recent Selected Highlights:

  • Revenues increased 44% from $34.3 million in the prior-year quarter to $49.3 million
  • GAAP net loss of $(4.2) million
  • Adjusted EBITDA of $8.8 million
  • Operating cash flow of $3 million
  • Cash and cash equivalents of $72.6 million as of September 30, 2024
  • VEVYE® total prescriptions up 55% over the second quarter of 2024
  • IHEEZO® customer unit demand volume up 15% over the second quarter of 2024
  • TRIESENCE® October 2024 relaunch underway
  • Expansion of access and affordability through multiple new partnerships
  • First major Medicare Part D win for VEVYE with major plan sponsors
  • Fourth quarter revenue indicates meaningful overperformance of 2024 revenue guidance from the capture of third quarter revenue slack and positive demand trends for VEVYE, IHEEZO, and TRIESENCE

NASHVILLE, Tenn.--(BUSINESS WIRE)-- Harrow (Nasdaq: HROW), a leading North American eyecare pharmaceutical company, announced results for the third quarter and nine months ended September 30, 2024. The Company also posted its third quarter Letter to Stockholders and corporate presentation to the “Investors” section of its website, harrow.com. The Company encourages all Harrow stockholders to review these documents, which provide additional details concerning the historical quarterly period and future expectations for the business.

“We are pleased with our progress in the third quarter of 2024,” said Mark L. Baum, Chief Executive Officer of Harrow. “Alongside 44% year‑over‑year revenue growth, we achieved a modest sequential revenue increase, despite the third quarter’s traditional summer seasonality and operational bumps that pushed some third quarter revenue into the fourth quarter. Nevertheless, our expected revenue overperformance in the second half of 2024 versus the first half remains intact, as are our longer-term growth plans. We are seeing strong performance thus far in the fourth quarter, traditionally our strongest, for what we expect to be a record‑breaking finish to a truly transformative year for Harrow.”

Third quarter 2024 figures of merit:

 

For the Three Months Ended
September 30,

 

For the Nine Months Ended
September 30,

 

2024

 

2023

 

2024

 

2023

Total revenues

$

49,257,000

 

 

$

34,265,000

 

 

$

132,783,000

 

 

$

93,838,000

 

Gross margin

 

76

%

 

 

71

%

 

 

74

%

 

 

70

%

Core gross margin(1)

 

80

%

 

 

78

%

 

 

78

%

 

 

77

%

Net loss

 

(4,220,000

)

 

 

(4,391,000

)

 

 

(24,258,000

)

 

 

(15,263,000

)

Core net loss(1)

 

(1,619,000

)

 

 

(2,983,000

)

 

 

(13,455,000

)

 

 

(4,519,000

)

Adjusted EBITDA(1)

 

8,808,000

 

 

 

9,209,000

 

 

 

17,838,000

 

 

 

25,556,000

 

Basic and diluted net loss per share

 

(0.12

)

 

 

(0.13

)

 

 

(0.68

)

 

 

(0.48

)

Core basic and diluted net loss per share(1)

 

(0.05

)

 

 

(0.09

)

 

 

(0.38

)

 

 

(0.14

)

(1)

Core gross margin, core net loss, core basic and diluted net loss per share (collectively, “Core Results”), and Adjusted EBITDA are non‑GAAP measures. For additional information, including a reconciliation of such Core Results and Adjusted EBITDA to the most directly comparable measures presented in accordance with GAAP, see the explanation of non‑GAAP measures and reconciliation tables at the end of this release.

Conference Call and Webcast

The Company’s management team will host a conference call and live webcast tomorrow morning, Thursday, November 14, 2024, at 8:00 a.m. Eastern time to discuss the third quarter 2024 results and provide a business update. Participants can access the live conference call via webcast on the “Investors” page of Harrow’s website. To participate via telephone, please register in advance using this link. Upon registration, all telephone participants will receive a confirmation email with detailed instructions, including a unique dial-in number and PIN, for accessing the call. A replay of the conference call webcast will be archived on the Company’s website for one year.

About Harrow

Harrow, Inc. (Nasdaq: HROW) is a leading eyecare pharmaceutical company engaged in the discovery, development, and commercialization of innovative ophthalmic pharmaceutical products for the North American market. Harrow helps eyecare professionals preserve the gift of sight by making its portfolio of prescription and non‑prescription pharmaceutical products accessible and affordable to millions of patients each year. For more information about Harrow, please visit harrow.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such “forward-looking statements.” Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include, among others, risks related to: liquidity or results of operations; our ability to successfully implement our business plan, develop and commercialize our products, product candidates and proprietary formulations in a timely manner or at all, identify and acquire additional products, manage our pharmacy operations, service our debt, obtain financing necessary to operate our business, recruit and retain qualified personnel, manage any growth we may experience and successfully realize the benefits of our previous acquisitions and any other acquisitions and collaborative arrangements we may pursue; competition from pharmaceutical companies, outsourcing facilities and pharmacies; general economic and business conditions, including inflation and supply chain challenges; regulatory and legal risks and uncertainties related to our pharmacy operations and the pharmacy and pharmaceutical business in general; physician interest in and market acceptance of our current and any future formulations and compounding pharmacies generally. These and additional risks and uncertainties are more fully described in Harrow’s filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2023, subsequent Quarterly Reports on Form 10-Q, and other filings with the SEC. Such documents may be read free of charge on the SEC's web site at sec.gov. Undue reliance should not be placed on forward‑looking statements, which speak only as of the date they are made. Except as required by law, Harrow undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.

HARROW, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

September 30,
2024

 

December 31,
2023

(unaudited)

 

 

ASSETS

Cash and cash equivalents

$

72,601,000

 

$

74,085,000

All other current assets

 

74,461,000

 

 

65,397,000

Total current assets

 

147,062,000

 

 

139,482,000

All other assets

 

204,477,000

 

 

172,682,000

TOTAL ASSETS

$

351,539,000

 

$

312,164,000

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities

$

95,005,000

 

$

49,344,000

Loans payable, net of unamortized debt discount

 

186,057,000

 

 

183,172,000

All other liabilities

 

12,856,000

 

 

9,237,000

TOTAL LIABILITIES

 

293,918,000

 

 

241,753,000

TOTAL STOCKHOLDERS' EQUITY

 

57,621,000

 

 

70,411,000

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

351,539,000

 

$

312,164,000

HARROW, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

 

 

For the Three Months Ended
September 30,

 

For the Nine Months Ended
September 30,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Total revenues

$

49,257,000

 

 

$

34,265,000

 

 

$

132,783,000

 

 

$

93,838,000

 

Cost of sales

 

12,018,000

 

 

 

10,067,000

 

 

 

35,110,000

 

 

 

28,338,000

 

Gross profit

 

37,239,000

 

 

 

24,198,000

 

 

 

97,673,000

 

 

 

65,500,000

 

Selling, general and administrative

 

33,645,000

 

 

 

21,033,000

 

 

 

94,275,000

 

 

 

56,878,000

 

Research and development

 

2,273,000

 

 

 

1,421,000

 

 

 

7,475,000

 

 

 

3,316,000

 

Total operating expenses

 

35,918,000

 

 

 

22,454,000

 

 

 

101,750,000

 

 

 

60,194,000

 

Income (loss) from operations

 

1,321,000

 

 

 

1,744,000

 

 

 

(4,077,000

)

 

 

5,306,000

 

Total other expense, net

 

5,521,000

 

 

 

4,596,000

 

 

 

19,506,000

 

 

 

19,333,000

 

Income tax expense

 

(20,000

)

 

 

(1,539,000

)

 

 

(675,000

)

 

 

(1,236,000

)

Net loss attributable to Harrow, Inc.

$

(4,220,000

)

 

$

(4,391,000

)

 

$

(24,258,000

)

 

$

(15,263,000

)

Net loss per share of common stock, basic and diluted

$

(0.12

)

 

$

(0.13

)

 

$

(0.68

)

 

$

(0.48

)

HARROW, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

 

For the Nine Months Ended
September 30,

2024

 

 

2023

 

Net cash (used in) provided by:

 

 

 

Operating activities

$

(4,423,000

)

 

$

(4,856,000

)

Investing activities

 

4,396,000

 

 

 

(152,350,000

)

Financing activities

 

(1,457,000

)

 

 

126,546,000

 

Net change in cash and cash equivalents

 

(1,484,000

)

 

 

(30,660,000

)

Cash and cash equivalents at beginning of the period

 

74,085,000

 

 

 

96,270,000

 

Cash and cash equivalents at end of the period

$

72,601,000

 

$

65,610,000

Non-GAAP Financial Measures

In addition to the Company’s results of operations determined in accordance with U.S. generally accepted accounting principles (GAAP), which are presented and discussed above, management also utilizes Adjusted EBITDA and Core Results, unaudited financial measures that are not calculated in accordance with GAAP, to evaluate the Company’s financial results and performance and to plan and forecast future periods. Adjusted EBITDA and Core Results are considered “non‑GAAP” financial measures within the meaning of Regulation G promulgated by the SEC. Management believes that these non-GAAP financial measures reflect an additional way of viewing aspects of the Company’s operations that, when viewed with GAAP results, provide a more complete understanding of the Company’s results of operations and the factors and trends affecting its business. Management believes Adjusted EBITDA and Core Results provide meaningful supplemental information regarding the Company’s performance because (i) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making; (ii) they exclude the impact of non-cash or, when specified, non-recurring items that are not directly attributable to the Company’s core operating performance and that may obscure trends in the Company’s core operating performance; and (iii) they are used by institutional investors and the analyst community to help analyze the Company’s results. However, Adjusted EBITDA, Core Results, and any other non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Further, non‑GAAP financial measures used by the Company and the way they are calculated may differ from the non-GAAP financial measures or the calculations of the same non‑GAAP financial measures used by other companies, including the Company’s competitors.

Adjusted EBITDA

The Company defines Adjusted EBITDA as net loss, excluding the effects of stock‑based compensation and expenses, interest, taxes, depreciation, amortization, investment loss (income), net, and, if any and when specified, other non-recurring income or expense items. Management believes that the most directly comparable GAAP financial measure to Adjusted EBITDA is net loss. Adjusted EBITDA has limitations and should not be considered as an alternative to gross profit or net loss as a measure of operating performance or to net cash (used in) provided by operating, investing, or financing activities as a measure of ability to meet cash needs.

The following is a reconciliation of Adjusted EBITDA, a non-GAAP measure, to the most comparable GAAP measure, net loss, for the three months and nine months ended September 30, 2024 and for the same periods in 2023:

HARROW, INC.

RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA

 

For the Three Months Ended
September 30,

For the Nine Months Ended
September 30,

 

2024

 

2023

 

2024

 

2023

GAAP net loss

$

(4,220,000

)

 

$

(4,391,000

)

 

$

(24,258,000

)

 

$

(15,263,000

)

Stock-based compensation and expenses

 

4,385,000

 

 

 

4,476,000

 

 

 

12,825,000

 

 

 

11,521,000

 

Interest expense, net

 

5,525,000

 

 

 

5,749,000

 

 

 

16,411,000

 

 

 

16,200,000

 

Income taxes

 

20,000

 

 

 

1,539,000

 

 

 

675,000

 

 

 

1,236,000

 

Depreciation

 

497,000

 

 

 

405,000

 

 

 

1,382,000

 

 

 

1,095,000

 

Amortization of intangible assets

 

2,605,000

 

 

 

2,584,000

 

 

 

7,708,000

 

 

 

7,634,000

 

Investment loss (income), net

 

-

 

 

 

(1,348,000

)

 

 

3,171,000

 

 

 

(2,676,000

)

Other (income) expense, net

 

(4,000

)

 

195,000

 

 

(76,000

)

 

5,809,000

(1)

Adjusted EBITDA

$

8,808,000

 

$

9,209,000

 

$

17,838,000

 

$

25,556,000

(1)

Includes $5,465,000 for the loss on extinguishment of debt.

Core Results

Harrow Core Results, including core gross margin, core net loss, and core basic and diluted loss per share exclude (1) all amortization and impairment charges of intangible assets, excluding software development costs, (2) net gains and losses on investments and equity securities, including equity method gains and losses and equity valued at fair value through profit and loss (FVPL), and preferred stock dividends, and (3) gains/losses on forgiveness of debt. In certain periods, Core Results may also exclude fair value adjustments of financial assets in the form of options to acquire a company carried at FVPL, obligations related to product recalls, certain acquisition‑related items, restructuring charges/releases and associated items, related legal items, gains/losses on early extinguishment of debt or debt modifications, impairments of property, plant and equipment and software, as well as income and expense items that management deems exceptional and that are or are expected to accumulate within the year to be over a $100,000 threshold.

The following is a reconciliation of Core Results, non-GAAP measures, to the most comparable GAAP measures for the three months and nine months ended September 30, 2024 and for the same periods in 2023:

For the Three Months Ended September 30, 2024

GAAP
Results

 

Amortization
of Certain
Intangible
Assets

 

Investment
Gains

 

Other
Items

 

Core
Results

Gross profit

$

37,239,000

 

 

$

2,191,000

 

$

-

 

$

-

 

 

$

39,430,000

 

Gross margin

 

76

%

 

 

 

 

 

 

 

 

80

%

Operating income

 

1,321,000

 

 

 

2,605,000

 

 

-

 

 

-

 

 

 

3,926,000

 

(Loss) income before taxes

 

(4,200,000

)

 

 

2,605,000

 

 

-

 

 

(4,000

)

 

 

(1,599,000

)

Taxes

 

(20,000

)

 

 

-

 

 

-

 

 

-

 

 

 

(20,000

)

Net (loss) income

 

(4,220,000

)

 

 

2,605,000

 

 

-

 

 

(4,000

)

 

 

(1,619,000

)

Basic and diluted loss

per share ($)(1)

 

(0.12

)

 

 

 

 

 

 

 

 

(0.05

)

Weighted average number
of shares of common
stock outstanding,
basic and diluted

 

35,702,200

 

 

 

 

 

 

 

 

 

 

 

35,702,200

 

For the Nine Months Ended September 30, 2024

GAAP
Results

 

Amortization
of Certain
Intangible
Assets

 

Investment
Gains

 

Other
Items

 

Core
Results

Gross profit

$

97,673,000

 

 

$

6,471,000

 

$

-

 

$

-

 

 

$

104,144,000

 

Gross margin

 

74

%

 

 

 

 

 

 

 

 

78

%

Operating loss

 

(4,077,000

)

 

 

7,708,000

 

 

-

 

 

-

 

 

 

3,631,000

 

(Loss) income before taxes

 

(23,583,000

)

 

 

7,708,000

 

 

3,171,000

 

 

(76,000

)

 

 

(12,780,000

)

Taxes

 

(675,000

)

 

 

-

 

 

-

 

 

-

 

 

 

(675,000

)

Net (loss) income

 

(24,258,000

)

 

 

7,708,000

 

 

3,171,000

 

 

(76,000

)

 

 

(13,455,000

)

Basic and diluted loss
per share ($)(1)

 

(0.68

)

 

 

 

 

 

 

 

 

(0.38

)

Weighted average number
of shares of common
stock outstanding,
basic and diluted

 

35,597,409

 

 

 

 

 

 

 

 

 

 

 

35,597,409

 

For the Three Months Ended September 30, 2023

GAAP
Results

 

Amortization
of Certain
Intangible
Assets

 

Investment
Gains

 

Other
Items

 

Core
Results

Gross profit

$

24,198,000

 

 

$

2,480,000

 

$

-

 

 

$

-

 

$

26,678,000

 

Gross margin

 

71

%

 

 

 

 

 

 

 

 

78

%

Operating income

 

1,744,000

 

 

 

2,584,000

 

 

-

 

 

 

-

 

 

4,328,000

 

(Loss) income before taxes

 

(2,852,000

)

 

 

2,584,000

 

 

(1,348,000

)

 

 

195,000

 

 

(1,421,000

)

Taxes

 

(1,539,000

)

 

 

-

 

 

-

 

 

 

-

 

 

(1,539,000

)

Net (loss) income

 

(4,391,000

)

 

 

2,584,000

 

 

(1,348,000

)

 

 

195,000

 

 

(2,960,000

)

Basic and diluted loss

per share ($)(1)

 

(0.13

)

 

 

 

 

 

 

 

 

(0.09

)

Weighted average number
of shares of common
stock outstanding,
basic and diluted

 

34,255,197

 

 

 

 

 

 

 

 

 

34,255,197

 

For the Nine Months Ended September 30, 2023

GAAP
Results

 

Amortization
of Certain
Intangible
Assets

 

Investment
Losses

 

Other
Items

 

Core
Results

Gross profit

$

65,500,000

 

 

$

7,174,000

 

$

-

 

 

$

-

 

$

72,674,000

 

Gross margin

 

70

%

 

 

 

 

 

 

 

 

77

%

Operating income

 

5,306,000

 

 

 

7,634,000

 

 

-

 

 

 

-

 

 

12,940,000

 

(Loss) income before taxes

 

(14,027,000

)

 

 

7,634,000

 

 

(2,676,000

)

 

 

5,786,000

 

 

(3,283,000

)

Taxes

 

(1,236,000

)

 

 

-

 

 

-

 

 

 

-

 

 

(1,236,000

)

Net (loss) income

 

(15,263,000

)

 

 

7,634,000

 

 

(2,676,000

)

 

 

5,786,000

 

 

(4,519,000

)

Basic and diluted loss
per share ($)(1)

 

(0.48

)

 

 

 

 

 

 

 

 

(0.14

)

Weighted average number
of shares of common
stock outstanding,
basic and diluted

 

31,689,947

 

 

 

 

 

 

 

 

 

31,689,947

 

(1)

Core basic and diluted loss per share is calculated using the weighted-average number of shares of common stock outstanding during the period. Core basic and diluted loss per share also contemplates dilutive shares associated with equity‑based awards as described in Note 2 and elsewhere in the Condensed Consolidated Financial Statements included in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024.

 

Jamie Webb, Director of Communications and Investor Relations

jwebb@harrowinc.com

615-733-4737

Source: Harrow, Inc.

FAQ

What was Harrow's (HROW) revenue growth in Q3 2024?

Harrow's revenue grew 44% year-over-year from $34.3 million to $49.3 million in Q3 2024.

How much did VEVYE prescriptions grow for Harrow (HROW) in Q3 2024?

VEVYE prescriptions increased 55% compared to the second quarter of 2024.

What was Harrow's (HROW) net loss in Q3 2024?

Harrow reported a GAAP net loss of $(4.2) million in Q3 2024.

What was Harrow's (HROW) cash position as of September 30, 2024?

Harrow had cash and cash equivalents of $72.6 million as of September 30, 2024.

Harrow, Inc.

NASDAQ:HROW

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