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Jun 30, 2022

Harrow Q2 2022 Earnings Report

Announced record results for the eighth consecutive quarter, including total revenues, revenue per shipping day, and total number of product units distributed.

Key Takeaways

Harrow Health announced strong financial and operational performance for Q2 2022, marking the eighth consecutive quarter of record results in key metrics. The company is focused on expanding its eyecare platform and integrating FDA-approved branded pharmaceutical products.

Revenues increased for the eighth consecutive quarter.

Focused on ensuring that the Harrow eyecare platform has the infrastructure, systems, resources, and talent needed to execute on the growth.

Expects several milestone events during the second half, including the PDUFA target action date for AMP-100.

Working on transactions expected to add value to the company.

Total Revenue
$23.3M
Previous year: $18.1M
+28.6%
EPS
$0.01
Previous year: -$0.11
-109.1%
Gross Profit
$16.8M
Previous year: $13.7M
+22.4%
Cash and Equivalents
$46.4M
Previous year: $72.7M
-36.1%
Free Cash Flow
$4.6M
Previous year: $4.29M
+7.2%
Total Assets
$98.1M
Previous year: $107M
-8.3%

Harrow

Harrow

Forward Guidance

The second half of 2022 will be a very consequential period for Harrow. Expects several milestone events during the second half, including the PDUFA target action date for AMP-100, a patented ocular surface anesthetic drug candidate, as well as several product launches of compounded formulations.