Business
Harrow Announces First-Quarter 2025 Financial Results
First-Quarter 2025 and Recent Selected Highlights: Revenues of $47.8 million, a 38% increase over $34.6 million recorded in prior-year period VEVYE revenues
About this update from Harrow, Inc.
[{"type":"text","content":"\nFirst-Quarter 2025 and Recent Selected Highlights:\n\n\nRevenues of $47.8 million, a 38% increase over $34.6 million recorded in prior-year period\n\n\nVEVYE revenues increased to $21.5 million, a 35% increase from $16.0 million in the fourth quarter 2024\n\n\nCash flow from operations reached a record high of $19.7 million\n\n\nGAAP net loss of $(17.8) million\n\n\nAdjusted EBITDA of $(2.0) million\n\n\nCash and cash equivalents of $66.7 million as of March 31, 2025\n\n\nVEVYE® Access for All launch in mid-March is accelerating market share capture and revenue growth\n\n\n NASHVILLE, Tenn.--(BUSINESS WIRE)--\nHarrow (Nasdaq: HROW), a leading North American eyecare pharmaceutical company, announced results for the first quarter ended March 31, 2025. The Company also posted its first quarter Letter to Stockholders and corporate presentation to the “Investors” section of its website, harrow.com. The Company encourages all Harrow stockholders to review these documents, which provide additional details concerning the historical quarterly period and future expectations for the business.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250508170334/en/\n“During the first quarter, the Harrow team advanced key commercial initiatives to drive 2025 demand for VEVYE®, IHEEZO®, and TRIESENCE®, including the mid-March launch of the VEVYE® Access for All (VAFA) program,” said Mark L. Baum, Chief Executive Officer of Harrow. “Despite typical first quarter seasonality and initiatives like VAFA, which launched late in the first quarter, we grew revenues by 38% year‑over‑year. We saw a 35% quarter‑over‑quarter increase in VEVYE revenues from $16.0 million in the fourth quarter of 2024 to $21.5 million in the first quarter of 2025. Notably, beginning early in the second quarter, we’ve seen a meaningful acceleration in unit demand across our portfolio as year-end stocking inventories were largely depleted, and various commercial initiatives gained traction, providing momentum we expect to continue to build throughout 2025.\n\n“Early VAFA program data has been very promising, with new VEVYE prescription volumes at PhilRx more than quadrupling and prescribers increasing by over 4X, all while maintaining a strong average selling price. Our VEVYE refill rate continues to be buoyant, with th...