| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 71.64 | 12.4% | 45.4% |
| Total Income | 71.64 | 12.4% | 45.4% |
| Expenditure | 56.89 | 8.7% | 18.7% |
| PBT | 1.02 | 79.6% | 124.3% |
| Net Profit | 1.02 | 79.6% | 124.2% |
| OPM | 20.59% | 2.69pp | 17.90pp |
| NPM | 1.42% | 6.41pp | 9.99pp |
| EPS | 0.03 | 78.6% | 125.0% |
Harrow Reports Q3 2025 Revenue Up 45% to $71.6 Million
04 May 2026 · 4 May, 7:30 am
Summary
Harrow, Inc. announced its third-quarter 2025 financial results, reporting total revenues of $71.6 million, a 45% increase year-over-year. The company achieved GAAP net income of $1.0 million and adjusted EBITDA of $22.7 million. VEVYE and IHEEZO showed strong performance, contributing significantly to the revenue growth. Management is optimistic about the company's future growth, citing strategic initiatives and recent coverage wins for VEVYE.
Key Highlights
- 1
Harrow's total revenues for the third quarter of 2025 reached $71.6 million, marking a 45% increase compared to the $49.3 million recorded in the prior-year period.
- 2
The company reported GAAP net income of $1.0 million for the third quarter of 2025.
- 3
Adjusted EBITDA for Q3 2025 was $22.7 million.
- 4
Cash and cash equivalents totaled $74.3 million as of September 30, 2025.
- 5
VEVYE revenue increased 22% quarter-over-quarter to $22.6 million in the third quarter.
- 6
IHEEZO revenue increased to $21.9 million in the third quarter of 2025, representing a 70% increase from the third quarter of 2024.
- 7
VEVYE achieved a 10.5% share of the national dry eye disease market by the end of the quarter.
Management Comments
Mark L. Baum
“The third quarter represented another period of meaningful progress for Harrow. We continued to execute across our portfolio, driving strong performance from VEVYE® and IHEEZO®, while advancing several strategic initiatives that strengthen our foundation for future growth,” “With the launch of TRIESENCE® into its largest market opportunity, the upcoming rollout of our Harrow Access for All (HAFA) program, the expansion of our commercial leadership team, and new major coverage wins for VEVYE, we are well-positioned for a terrific close to the year and sustained growth for many years to come.
Informational and educational content only. Not investment advice.