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Dec 31, 2023

Harrow Q4 2023 Earnings Report

Harrow experienced growth and launched key products, setting the stage for future expansion.

Key Takeaways

Harrow announced its fourth quarter and year-end 2023 financial results, highlighting the company's transformation and growth in the ophthalmic pharmaceuticals market. The company launched products and began generating cash from IHEEZO, VEVYE, and TRIESENCE.

Harrow transformed from a company focused on compounded business to a leader in ophthalmic pharmaceuticals.

The company launched products and began generating cash from its Big Three products: IHEEZO, VEVYE, and TRIESENCE.

Harrow attracted experienced talent, setting the stage for growth in 2024.

The company expects significant growth from IHEEZO and continued success with VEVYE.

Total Revenue
$36.4M
Previous year: $20.3M
+78.8%
EPS
-$0.2
Previous year: $0.07
-385.7%
Gross Profit
$25.1M
Previous year: $14.2M
+76.9%
Cash and Equivalents
$74.1M
Previous year: $96.3M
-23.0%
Free Cash Flow
$8.5M
Previous year: -$4.59M
-285.2%
Total Assets
$312M
Previous year: $157M
+98.4%

Harrow

Harrow

Forward Guidance

Harrow anticipates continued growth and success, driven by its product portfolio and strategic initiatives.

Positive Outlook

  • Significant growth expected from IHEEZO.
  • Continued success with VEVYE launch.
  • Potential return of TRIESENCE to inventory this year.
  • Company has the products, resources, and people to take advantage of opportunities.
  • 2024 is shaping up to be another exciting year of growth.