Harrow Q1 revenue up 33% to $34.6M; net loss widens; FY2024 guidance at least $180M

HARROW, INC.

2024-Q1 EPS reported -$0.38 revenue$34,587,000

Q1 revenue $34.6M (+33% YoY); GAAP net loss $(13.6M) vs $(6.6M) prior year; adj. EBITDA $0.2M vs $5.3M.
Reaffirms FY2024 revenue guidance of at least $180M, expecting growth with back half stronger.
VEVYE covered lives exceed 150M (from 40M); IHEEZO CMS separate reimbursement confirmed retroactive to Jan 1, 2024.
Signed IHEEZO supply agreements with 7 multi-practice accounts; new patent through 2039. TRIESENCE PPQ batch passing preliminary assays.
Appointed Greg DiPasquale as SVP, Head of Commercial (from Regeneron). Sold Eton shares for $5.5M cash.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HARROW, INC. reported the first quarter ended March 31, 2024 results: revenue $34,587,000, net income (13,565,000), EPS (0.38). Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $34,587,000
Net income: (13,565,000)
EPS: (0.38)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First quarter 2024 figures of merit: For the Three Months Ended March 31, 2024 2023 Net revenues $ 34,587,000 $ 26,103,000 Gross margin 69 % 68 % Core gross margin (1) 76 % 76 % Net loss (13,565,000 ) (6,643,000 ) Core net loss (1) (9,789,000 ) (1,042,000 ) Adjusted EBITDA (1) 227,000 5,342,000 Basic and diluted net loss per share (0.38 ) (0.22 )

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Source: SEC EDGAR

accession 0001493152-24-018898

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