Harrow Health ( (HROW) ) has released its Q4 earnings. Here is a breakdown of the information Harrow Health presented to its investors.
Harrow, Inc. is a prominent North American eyecare pharmaceutical company specializing in the development and commercialization of innovative ophthalmic products, aiming to make these treatments accessible and affordable to millions of patients annually. The company recently reported its financial results for the fourth quarter and full year of 2024, highlighting a record revenue of $66.8 million for the fourth quarter, marking an 84% increase from the previous year, and $199.6 million for the full year, a 53% rise from 2023. Despite a GAAP net loss of $17.5 million for the year, the company achieved a GAAP net income of $6.8 million for the fourth quarter, with an adjusted EBITDA of $22.5 million for the same period, reflecting strong operational performance and strategic growth initiatives. Key drivers of this growth included significant increases in demand for IHEEZO and VEVYE, with the latter’s Access for All program expected to further expand market share in 2025. Harrow’s management remains optimistic about continued revenue growth, projecting over $280 million for 2025, driven by its expanding product portfolio and strategic initiatives aimed at enhancing market penetration and operational efficiencies.