What is the revenue and EPS growth rate for Harrow year over year?

What is Harrow's gross profit margin?

What is the market's earnings forecast for Harrow next quarter?

What does Harrow do and what are its main business segments?

Did Harrow beat or miss consensus estimates last quarter?

What is Harrow's latest dividend and current dividend yield?

What guidance did Harrow's management provide for the next earnings period?

What factors drove the changes in Harrow's revenue and profit?

- **Revenue Growth**: 36% YoY to $272M in 2025, guided to $350-365M in 2026. 
- **Vevye Expansion**: Sales force doubling to $90M+ revenue, targeting #1 cyclosporin. 
- **IHEEZO Momentum**: 56% unit growth in 2025, Q3 2026 pricing improvement. 
- **Pipeline Potential**: G-Melt (opioid-free sedation) and Triesence cataract trial targeting $1B+ markets. 
- **Cash Flow Strength**: $44M from operations, $72.9M ending 2025. 
- **Risks**: ASC pass-through expiration, high deductible plan impact in Q1. 


**【CEO Summary Section】**
- Harrow has transformed into a leading ophthalmic platform with a diversified portfolio, including Vevye, IHEEZO, and Triesence, driving $272M in 2025 revenue (36% YoY growth). 
- Vevye sales force to double by Q2 2026, targeting 9-figure revenue and #1 cyclosporin market share. 
- IHEEZO expanded into retina and office-based procedures, with 56% unit growth in 2025, and Q2 2026 pricing improvements. 
- Triesence launched in Q4 2025, with Q1 2026 sales force doubling to capitalize on cataract surgery market. 
- G-Melt (opioid-free sedation) and YOCHIL pipeline candidates aim for 2027 FDA submissions, targeting $1B+ markets. 

**【CFO Financial Commentary】**
- Q4 2025 revenue: $89.1M (33% YoY), Full Year: $272M (36% YoY). 
- 2026 guidance: $350-365M revenue, $80-100M EBITDA, with 2H26 acceleration. 
- SG&A: $185-205M (sales force expansion), R&D: $30-35M (pipeline studies). 
- Cash flow: $44M from operations, ending 2025 with $72.9M. 

**【CCO Product Details】**
- **Vevye**: 115% prescriber growth in 2025, 9 refill persistence, Q1 2026 new prescriptions exceed expectations. 
- **IHEEZO**: 70% retina utilization, 2.5M new office-based procedures TAM, Q3 2026 pricing improvement. 
- **Triesence**: Q4 2025 revenue $5.1M, Q1 2026 sales force doubling for cataract surgery expansion. 
- **Rare Specialty**: Q4 2025 revenue $22.2M, resolving inventory constraints, 2026 CMS coding decision pending. 

**【CSO Pipeline】**
- **G-Melt**: Phase II trial for cataract surgery sedation, NDA submission Q1 2027, targeting $1B+ non-IV sedation market. 
- **IHEEZO Studies**: ASRS 2026 data on intravitreal injection efficacy, Q4 2026 Phase II results. 
- **Melt Acquisition**: G-Melt and YOCHIL candidates for anxiety and sedation, leveraging compounded product experience. 

**【Q&A Highlights】**
- **Vevye ASP**: Q3 2026 improvement, 20%+ market share target. 
- **IHEEZO ASC Impact**: 30% unit loss offset by office-based expansion. 
- **Triesence Cataract Trial**: 5M annual procedures, $37/unit out-of-pocket cost. 
- **Melt Strategy**: Focus on ophthalmology first, potential broader anesthesia market. 
- **BYOOVIZ Launch**: Mid-2026, leveraging existing retina sales force for biosimilar differentiation. 


Harrow Health, Inc.(HROW)-20260303-2025 Q4 Earnings call transcript

- **Revenue Growth**: Q3 2025 revenue up 45% YoY to $71.6M, driven by VEVYE (22% QoQ) and IHEEZO (20% QoQ)
- **VEVYE Momentum**: 36% increase in prescribing physicians, $22.6M Q3 revenue, 2026 PBM coverage win
- **TRIESENCE Expansion**: 67% QoQ growth, 53% new accounts, launched in ocular inflammation
- **Strategic Acquisitions**: Melt Pharmaceuticals acquisition adds MELT-300 for non-opioid cataract surgery
- **Financial Guidance**: Full year 2025 revenue $270-280M, EBITDA $22.7M, operating leverage improving

**【CEO Summary Section】**
- Harrow reported Q3 2025 revenue of $71.6 million, up 45% YoY and 12% sequentially, driven by strong performance of VEVYE and IHEEZO.
- VEVYE revenue grew 22% QoQ to $22.6 million, with 36% increase in prescribing physicians. IHEEZO revenue rose 20% QoQ to $21.9 million, despite seasonal slowdown.
- Signed major payer agreements for VEVYE, including preferred status on the largest U.S. PBM's formulary starting Jan 2026, expected to flip covered/cash pay prescription mix.
- Launched TRIESENCE in ocular inflammation, with 67% QoQ unit growth and 53% new customer adoption.
- Announced Melt Pharmaceuticals acquisition, adding non-opioid procedural sedation candidate MELT-300 for cataract surgery.

**【CFO Financial Commentary】**
- Adjusted EBITDA: $22.7 million (up 14% YoY)
- GAAP Net Income: $1 million
- Full year 2025 revenue guidance updated to $270-280 million (prior: >$280 million)
- Operating expenses stable QoQ, with moderate 2026 investments in commercial infrastructure
- VEVYE on track for $100 million+ annual revenue in 2025, IHEEZO for record year

**【Commercial Strategy】**
- VEVYE: 10 new sales territories added, targeting 100+ by mid-2026
- Specialty Pharmacy Network: expanded to PhilRx, Apollo Care, and AltoRx
- TRIESENCE: 4x QoQ growth, 53% new accounts, launched in ocular inflammation
- Rare/Specialty Portfolio: 33% QoQ growth to $6.9 million, new leadership and Harrow Access for All program

**【Q&A Highlights】**
- VEVYE Coverage: Largest PBM win covers ~10M lives, expected to stabilize ASP in 2026
- ASP Stabilization: Covered/cash pay mix flip to drive pricing improvement
- TRIESENCE: 67% QoQ growth, 53% new accounts, strong reimbursement (>90% without prior auth)
- MELT-300: Potential for opioid-free cataract surgery, global patent portfolio
- ImprimisRx: Q4 impact from California license renewal uncertainty and $4-6M inventory shortage

Harrow, Inc. (HROW) Q3 2025 Earnings Call Transcript

- **Revenue Surge**: Q2 2025 revenue up 30% YoY to $63.7 million, driven by VEVYE (66% QoQ prescriptions), IHEEZO (251% YoY growth), and TRIESENCE (447% YoY growth).
- **VEVYE Dominance**: 7.8% market share, 2nd in cyclosporine-based dry eye, and 62% new prescriptions under VAFA program.
- **Strategic Acquisitions**: Biosimilars (BYOOVIZ, OPUVIZ) and BYQLOVI set to launch in 2026, aligning with $250M quarterly revenue goal.
- **Financial Strength**: Adjusted EBITDA of $17 million and net income of $5 million highlight operational efficiency and scalability.
- **Growth Catalysts**: Apollo Care expansion, IHEEZO retina pivot, and TRIESENCE ocular inflammation market entry.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 2025 revenue reached $63.7 million, a 30% YoY increase and 33% sequential growth. Full-year 2025 guidance of $280 million remains on track, with $169 million needed in H2.
- **Key Product Performance**: 
  - **VEVYE**: $18.6 million revenue (13% QoQ decline due to ASP normalization), 66% QoQ prescription volume growth, 7.8% market share, and 2nd position in cyclosporine-based dry eye market.
  - **IHEEZO**: $18.3 million revenue (251% YoY growth), 25% QoQ unit volume increase, and 170% QoQ distributor shipments.
  - **TRIESENCE**: $5.2 million revenue (447% YoY growth), 32% QoQ growth, and expansion into ocular inflammation market.
- **Strategic Acquisitions**: 
  - BYQLOVI (FDA-approved ophthalmic steroid) and Samsung biosimilars (BYOOVIZ/LUCENTIS, OPUVIZ/EYLEA) to launch in 2026.
  - VEVYE Access for All initiative expanded with Apollo Care, adding 500+ pharmacies and full national coverage.
- **Long-Term Goals**: Target $250 million quarterly revenue by Q4 2027, with leverage from existing infrastructure and new product launches.

**【CFO Financial Commentary】**
- **Financial Highlights**: 
  - Adjusted EBITDA: $17 million (Q2 2025), up from $12.5 million (Q1 2025).
  - Net Income: $5 million (Q2 2025), up from $3.8 million (Q1 2025).
  - Gross Margin: Improved due to VAFA program profitability and cost control.
- **Liquidity**: Strong cash flow generation from ImprimisRx and specialty branded products.

**【Q&A Key Highlights】**
- **VEVYE ASP Stability**: ASP stabilized post-Q1 anomaly, with 62% new prescriptions in Q2 and 66% refill rates. Apollo Care partnership to enhance commercial coverage and ASP bias.
- **IHEEZO Momentum**: 19 new retina accounts in Q2, 33% QoQ growth in largest GPO, and 81% payer coverage.
- **TRIESENCE Expansion**: 870 new accounts in 2025, 84% coverage, and planned launch in ocular inflammation market.
- **Biosimilar Pipeline**: Samsung biosimilars expected to leverage existing commercial infrastructure and retina expertise.
- **Supply Chain**: Second VEVYE manufacturing site planned for 2026 to support growth.


Harrow, Inc. (HROW) Q2 2025 Earnings Call Transcript

- **VEVYE Dominance**: Q1 2025 revenue up 38% YoY, with VEVYE at $21.5M and VAFA program driving 4x new prescriptions. 2025 target of $100M+ VEVYE revenue.
- **IHEEZO Recovery**: Q1 unit sales rebounded in April, with 2025 revenue target of $50M+ as inventory normalizes.
- **TRIESENCE Growth**: Q1 2025 completed key reimbursement initiatives, unlocking 40% of the market. Q2 sales momentum indicates leadership potential.
- **Debt Refinancing**: CFO confident in summer/fall refinancing to reduce costs and support long-term deleveraging.


**【CEO Summary Section】**
- **Revenue Growth**: Q1 2025 revenue increased 38% YoY, driven by VEVYE's 35% sequential growth to $21.5M and the launch of the VEVYE Access for All (VAFA) program. VEVYE is projected to generate at least $100M in 2025 revenue.
- **VEVYE Momentum**: VAFA program quadrupled new prescriptions and prescribers within 7 weeks post-launch. Refill rates and ASP stabilization support accelerated growth in Q3 and Q4.
- **IHEEZO Recovery**: Q1 unit sales rebounded in April, with distributor inventory normalized. 2025 revenue target of $50M+ is achievable as new accounts ramp up.
- **TRIESENCE Market Access**: Q1 2025 completed key reimbursement initiatives, unlocking 40% of the market. Q2 sales momentum indicates potential to become the leading intraocular steroid.
- **2025 Guidance**: $280M+ revenue target with $232M remaining for the year, driven by VEVYE ($100M+), IHEEZO ($50M+), TRIESENCE/specialty products ($50M+), and ImprimisRx ($80M+).

**【CFO Financial Commentary】**
- **Q1 Financials**: $19.7M cash flow from operations, $3.7M one-time expenses, and $21.5M VEVYE revenue. ImprimisRx on track for $80M+ 2025 revenue.
- **Gross Margin Management**: VEVYE ASP expected to stabilize at a level 2x more profitable than Klarity-C. Cost control maintains operational efficiency despite commercial investments.
- **Debt Refinancing Update**: Actively negotiating with lenders for summer/fall refinancing, with confidence in securing favorable terms to support long-term deleveraging.

**【Q&A Highlights】**
- **VEVYE Pricing**: VAFA reduced patient out-of-pocket costs, driving NRx growth without sacrificing ASP. Refill rates and new prescriptions support Q3+ revenue acceleration.
- **IHEEZO Inventory**: Q1 destocking reversed Q4 2024 overbuying, with April unit sales doubling Q1 average. 2025 revenue growth expected as new accounts onboard.
- **TRIESENCE Adoption**: 40% market access unlocked in Q1, with new account openings and procedure volume growth in ASC/hospital settings.
- **Debt Strategy**: CFO emphasizes confidence in refinancing to reduce interest costs, enabling reinvestment in growth initiatives.


Harrow Health (HROW)-9 May 25-2025 Q1 Earnings call transcript

- **Record Q4 growth**: 84% YoY revenue, $22.5M EBITDA, 84% gross margin. 
- **VEVYE dominance**: 44% QoQ script growth, 0-59$/bottle patient cost via VAPA. 
- **TRIESENCE momentum**: CMS pass-through, 5-year supply deal, next-gen NDA by 2027. 
- **2025 outlook**: >40% sequential revenue growth, >$80M EBITDA, 20%+ operating leverage. 
- **Debt management**: Refinancing discussions underway, no near-term risk. 


**【CEO Opening Remarks】**
- Q4 2024 revenue: $66.8M (84% YoY growth, 36% sequential growth), full-year revenue: $199.6M (53% YoY growth). 
- Adjusted EBITDA: $22.5M (Q4) / $40.3M (FY2024, 43% YoY growth). 
- Core gross margin: 84% (Q4) / 80% (FY2024). 
- Key product highlights:
  - **IHEEZO**: 43% QoQ unit growth, 34% of Q4 revenue ($23M). Retina pivot driving anti-VEGF injection use. 
  - **VEVYE**: 44% QoQ prescription growth, ASP improvement due to VEVYE Access for All (VAPA) program. 
  - **TRIESENCE**: CMS pass-through reimbursement approved, 5-year supply agreement with manufacturer. 
- 2025 outlook: >40% sequential revenue growth, VEVYE and IHEEZO expected to outperform. 

**【CFO Financial Insights】**
- Q4 GAAP net income: $6.8M. 
- 2024 SG&A: 36% YoY growth, but 2025 expected to slow due to operating leverage. 
- Cash flow conversion: ~90% of EBITDA, with tax payments resuming in 2025. 
- Distributor terms: Extended payment terms for buy-and-bill products (IHEEZO, TRIESENCE). 
- 2025 capital expenditures: ~$10M. 

**【Q&A Key Takeaways】**
- **VEVYE ASP**: Q4 improvement driven by VAPA program, 0-59$/bottle patient cost. 
- **TRIESENCE pipeline**: Next-gen formulation NDA submission by end-2027. 
- **Project Beagle**: FDA-approved alternatives for compounded products, 175K Melt units targeted for 2025. 
- **2025 EBITDA**: >$80M, with VEVYE and IHEEZO driving >50% growth. 
- **Debt refinancing**: Exploring options with Oaktree and other lenders. 
- **Melt-300**: Phase 3 data complete, NDA expected H2 2025. 
- **Seasonality**: Q4 2024 up 36% vs Q3, Q1 2025 expected to lag due to resets. 


Actual											-0.5	-0.1286	0.32	0.04	0.01	-0.11	-0.31	-0.27	-0.09	-0.23	-0.24	0.04	-0.22	-0.14	-0.13	-0.26	-0.38	-0.18	-0.12	0.24	-0.5	0.13	0.03	0.17
Forecast											-0.02	-0.17	-0.095	0.005	0.015	0.0333	-0.0175	-0.0425	-0.035	-0.02	-0.005	-0.1167	-0.0533	-0.04	0.0367	-0.0433	-0.2175	-0.1833	-0.0525	0.082	-0.046	0.0075	0.215	0.3678
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2400.00%	+24.35%	+436.84%	+700.00%	-33.33%	-430.33%	-1671.43%	-535.29%	-157.14%	-1050.00%	-4700.00%	+134.28%	-312.76%	-250.00%	-454.22%	-500.46%	-74.71%	+1.80%	-128.57%	+192.68%	-986.96%	+1633.33%	-86.05%	-53.78%

HROW

HROW fundamentals

HROW Q4 2025 Earnings

Earnings Call

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HROW

HROW fundamentals

HROW Q4 2025 Earnings

Earnings Call

HROW Earnings Call Summary for Q4/20258:00 AM on Mar 3, 2026

HROW Earnings Call Summary for Q3/20258:00 AM on Nov 11, 2025

HROW Earnings Call Summary for Q2/20258:00 AM on Aug 12, 2025

HROW Earnings Call Summary for Q1/20258:00 AM on May 9, 2025

HROW Earnings Call Summary for Q4/20248:00 AM on Mar 28, 2025

You can ask Aime