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Dec 31, 2024
Harrow Q4 2024 Earnings Report
Harrow reported strong Q4 2024 results with record revenue, significant year-over-year growth, and positive net income.
Key Takeaways
Harrow delivered a record $66.8 million in revenue for Q4 2024, marking an 84% increase over the prior-year period. The company reported $6.78 million in GAAP net income, with EPS of $0.19 basic and $0.24 diluted. Adjusted EBITDA reached $22.5 million, highlighting the company's profitability and operational leverage.
Total revenue for Q4 2024 reached $66.8 million, up 84% from Q4 2023.
GAAP net income was $6.78 million for the quarter.
Adjusted EBITDA came in at $22.49 million.
Gross profit rose to $52.7 million with a 79% margin.
Forward Guidance
Harrow expects continued growth in 2025, driven by increasing demand for key products and expanded market opportunities, with revenue guidance exceeding $280 million.
Positive Outlook
- Expected 2025 revenue of more than $280 million.
- Significant growth anticipated from the VEVYE® Access for All program.
- CMS approval of transitional pass-through for TRIESENCE® expands market opportunity.
- Product demand (IHEEZO and VEVYE) rose over 40% quarter-over-quarter.
- Ongoing development of next-generation TRIESENCE® supports long-term growth.
Challenges Ahead
- Cash balance declined from $74.1 million to $47.2 million year-over-year.
- Increased SG&A expenses from $26.2 million to $34.8 million quarter-over-quarter.
- Continued R&D spending pressure, totaling $4.8 million in Q4.
- Interest expense of $6.4 million weighed on net income.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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