Harrow Q3 rev up 50% to $34.3M, cuts FY2023 outlook, targets >$180M in 2024

HARROW, INC.

2023-Q3 EPS reported -$0.48 revenue$93,838,000

Record Q3 rev $34.3M (+50% YoY); GAAP net loss $4.4M; Adjusted EBITDA $9.2M (+270% YoY).
Core gross margin improved to 78% from 72%; cash $65.6M as of Sept 30.
2023 guidance lowered: rev $129-136M, Adj. EBITDA $36-41M; 2024 rev target >$180M excl. TRIESENCE.
IHEEZO launch ahead of internal targets; Fab Five and compounding underperformed.
Completed NDA transfers for five products post-quarter; now selling under Harrow brand.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HARROW, INC. updated its the third quarter and nine months ended September 30, 2023 guidance (reaffirmed).

Period: the third quarter and nine months ended September 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On November 13, 2023, Harrow, Inc. (the "Company") issued a press release and a letter to stockholders announcing its financial results for the period ended September 30, 2023 and an update on recent corporate events.

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HARROW, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-040555

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