Harrow Health (HROW) Misses Q3 EPS by 15c, Misses on Revenue; Offers FY23 Revenue Guidance
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Harrow Announces Third Quarter 2023 Financial Results
November 13, 2023 4:01 PM ESTThird Quarter 2023 and Recent Selected Highlights:
Record revenues of $34.3 million, an increase of 50% over $22.8 million in the prior-year quarter and an increase of 2% over $33.5 million in the sequential quarter. GAAP net loss of $(4.4 million). Adjusted EBITDA of $9.2 million, an increase of 270% over $2.5 million in the prioryear quarter. GAAP gross margin was flat at 71%, year-over-year. Core gross margin improved to 78% over the prior years 72%. Cash and cash equivalents of $65.6 million as of September 30, 2023. Harrow Completes Transfer of NDAs and Launches FLAREX®, NATACYN®, TOBRADEX® ST, VERKAZIA®, and... More