Business
Harrow Announces Fourth-Quarter and Year-End 2024 Audited Financial Results
Fourth-Quarter, Full-Year 2024, and Recent Highlights: Record revenues of $66.8 million for Q4 2024, an 84% increase over Q4 2023 Revenues of $199.6 million
About this update from Harrow, Inc.
[{"type":"text","content":"\nFourth-Quarter, Full-Year 2024, and Recent Highlights:\n\n\nRecord revenues of $66.8 million for Q4 2024, an 84% increase over Q4 2023\n\n\nRevenues of $199.6 million for FY 2024, a 53% increase over FY 2023\n\n\nGAAP net income of $6.8 million for Q4 2024, for a GAAP net loss of $(17.5) million for FY 2024\n\n\nAdjusted EBITDA of $22.5 million for Q4 2024, leading to Adjusted EBITDA of $40.3 million for FY 2024\n\n\nIHEEZO® unit demand and VEVYE® prescriptions for Q4 2024 each increased over 40% over Q3 2024\n\n\nVEVYE® Access for All program expected to drive continued market share expansion in 2025\n\n\nTRIESENCE® transitional pass-through approved, significantly increasing addressable market opportunity\n\n\n NASHVILLE, Tenn.--(BUSINESS WIRE)--\nHarrow (Nasdaq: HROW), a leading North American eyecare pharmaceutical company, announced results for the fourth quarter and year ended December 31, 2024. The Company also posted its fourth 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/20250327714911/en/\n“Our stellar fourth-quarter performance, including an 84% year-over-year increase in revenues to a record $66.8 million, marked the end of a monumental year for Harrow, with 2024 revenues rising 53% over 2023 to $199.6 million,” said Mark L. Baum, Chief Executive Officer of Harrow. “This strong finish, driven by over 40% quarter-over-quarter growth in both IHEEZO unit demand and VEVYE prescriptions, showcases market uptake for our expanding portfolio and the overall success of the Harrow team. We expect our momentum to continue in 2025, particularly in the second half, as the recently announced VEVYE Access for All program gains traction – accelerating market share capture, expanding commercially covered prescriptions, and bolstering prescriber confidence by ensuring their patients can affordably start treatment with VEVYE, regardless of insurance status. Meanwhile, in addition to our success in stabilizing the supply chain for TRIESENCE, the Centers for Medicare & Medic...