Business
Harrow Provides Fourth Quarter and Year-End 2024 Unaudited Preliminary Financial Results and 2025 Revenue Guidance
Company Expects to Provide Revised Dates for Release of Audited Financial Results, Conference Call, and Letter to Stockholders NASHVILLE, Tenn.--(BUSINESS
About this update from Harrow, Inc.
[{"type":"text","content":"\nCompany Expects to Provide Revised Dates for Release of Audited Financial Results, Conference Call, and Letter to Stockholders\n\n NASHVILLE, Tenn.--(BUSINESS WIRE)--\nHarrow (Nasdaq: HROW), a leading North American eyecare pharmaceutical company, today announced unaudited preliminary financial results for the fourth quarter and year ended December 31, 2024, as well as revenue guidance for 2025. Although Harrow was initially scheduled to release its audited financial results today, the Company’s new independent auditor requires additional time to audit Harrow’s financial presentation. As a result, Harrow is delaying its earnings release, conference call and Annual Report on Form 10-K filing. The change in the date of the filing of the Form 10-K is not related to any disagreements on accounting principles or practices, financial statement disclosure, or auditing scope or procedure.\n\nIn conjunction with today’s announcement, Harrow is providing the following unaudited preliminary financial results for the fourth quarter and year ended December 31, 2024:\n\n\n\n \n\n\n\nFor the Three Months Ended\nDecember 31, 2024\n\n\n\n \n\n\n \n\n\n\nFor the Year Ended\nDecember 31, 2024\n\n\n\n\n\nRevenues\n\n\n\n$65 - $67 million\n\n\n\n \n\n\n\n$198 - $200 million\n\n\n\n\n\nNet Income (Loss)\n\n\n\n$5 - $7 million\n\n\n\n \n\n\n\n$(17) - $(19) million\n\n\n\n\n\nAdjusted EBITDA (a non-GAAP measure)\n\n\n\n$21 - $23 million\n\n\n\n \n\n\n\n$39 - $41 million\n\n\n\n\nAdjusted EBITDA\n\nThe Company defines Adjusted EBITDA as net income (loss), excluding the effects of stock‑based compensation and expenses, impairment of intangible assets, interest, taxes, depreciation, amortization, investment loss, net, and, if any and when specified, other non-recurring income or expense items. Management believes that the most directly comparable GAAP financial measure to Adjusted EBITDA is net income (loss). Adjusted EBITDA has limitations and should not be considered as an alternative to gross profit or net loss as a measure of operating performance or to net cash provided by (used in) operating, investing, or financing activities as a measure of ability to meet cash needs.\n\nThe following is a reconciliation of Adjusted EBITDA, a non-GAAP measure, to the most comparable GAAP measure, net income (loss), for the three months and year ended December 31...