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Harrow (HROW) investor relations material
Harrow Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary11 Nov, 2025
Executive summary
Achieved Q3 2025 revenue of $71.6M, up 45% year-over-year, with strong growth from VEVYE and IHEEZO and net income of $1.0M.
Adjusted EBITDA for Q3 2025 was $22.7M, with cash and cash equivalents at $74.3M as of September 30, 2025.
Announced acquisition of Melt Pharmaceuticals, with closing expected in Q4 2025, and expanded the Access for All (HAFA) program.
Four new product launches planned over the next three years, including BYQLOVI, BYOOVIZ, OPUVIZ, and MELT-300.
Leading provider of ophthalmic disease management solutions, with a scalable commercial platform and robust pipeline.
Financial highlights
Q3 2025 gross margin was 75.3%, with core gross margin at 81%; operating income was $14.7M.
Q3 2025 net income was $1.0M, compared to a net loss of $4.2M in Q3 2024; EPS was $0.03.
ImprimisRx contributed $20.1M in Q3 revenue; YTD ImprimisRx revenue was $61.6M.
For the nine months ended September 30, 2025, total revenues were $183.2M, up from $132.8M year-over-year.
Cash and cash equivalents increased to $74.3M from $47.2M at year-end 2024.
Outlook and guidance
Full-year 2025 revenue guidance set at $270–$280M, with continued growth expected from branded products and new launches.
BYQLOVI launch anticipated in Q4 2025; new commercialization agreements and expanded coverage for VEVYE expected to drive growth.
Commercial expansion for VEVYE targeting 10 new territories in Q4 2025.
Cash position and new $40M credit facility expected to support operations and strategic initiatives.
Continued investment in commercial infrastructure and access programs to support expansion.
Melt acquisition: impact on non-ophthalmic strategy?
Quantify VEVYE's 2026 formulary impact?
Sustainability of Core vs GAAP net income drivers?
VEVYE ASP impact from new PBM coverage?
TRIESENCE ocular inflammation market potential?
Melt acquisition's role in ophthalmic surgery vision?
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Next Harrow earnings date
Piper Sandler 37th Annual Healthcare Conference2 Dec, 2025
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Frequently asked questions
Harrow Health Inc is a pharmaceutical company focused on the development and commercialization of ophthalmic pharmaceutical products. The company offers compounded medications and branded formulations for use in eye care. It serves physicians, clinics, and surgical centers in the United States. The company is headquartered in Nashville, Tennessee, and its shares are listed on the NASDAQ.
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