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Sep 30, 2023
Harrow Q3 2023 Earnings Report
Reported record revenues with a 50% increase over the prior year, driven by branded pharmaceutical products, particularly IHEEZO, but experienced mixed operational performance with some areas underperforming.
Key Takeaways
Harrow announced record revenues for Q3 2023, a 50% increase year-over-year, driven by strong performance from branded pharmaceutical products, especially IHEEZO. However, the quarter had mixed operational results, with some areas underperforming. The company has adjusted its 2023 financial guidance to revenues of $129 million to $136 million and Adjusted EBITDA of $36 million to $41 million.
Record revenues were achieved, marking a 50% increase compared to the previous year.
Branded pharmaceutical products (BPPS) primarily drove the revenue increase, with IHEEZO exceeding internal expectations.
Strategic amendments to the IHEEZO launch led to a substantial increase in unit demand in September, which continued into the fourth quarter.
The company adjusted its previously issued 2023 financial guidance to revenues of $129 million to $136 million and Adjusted EBITDA of $36 million to $41 million.
Forward Guidance
Harrow expects revenues of more than $180 million in 2024, excluding contributions from TRIESENCE.
Historical Earnings Impact
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