NASDAQ$HROW

Harrow Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Announced fourth quarter and year-end 2022 financial results.

Harrow announced its Q4 and year-end results, highlighting a transformational year with the FDA approval of IHEEZO™ and the expansion of their product portfolio.

  • IHEEZO™ received FDA approval in September 2022.
  • A permanent J-Code (J2403) and Transitional Pass-Through Reimbursement payment status were issued for IHEEZO™ in 2023.
  • The company expanded its product portfolio with branded and compounded pharmaceutical products.
  • Harrow divested its non-ophthalmic-related assets, becoming a pure-play ophthalmic pharmaceutical company.

Headline financials

Total Revenue

$20.3M

Previous: $20.2M+0.7%
EPS (adj)

$0.07

Previous: -$0.27+125.9%
Capital Expenditures

$878K

Previous: $137K+540.9%
Free Cash Flow

-$4.59M

Previous: -$1.63M-182.1%
Net Income

$1.06M

Previous: -$7.42M+114.2%
Operating Income

-$1.78M

Previous: -$1.76M-1.3%
Gross Profit

$14.2M

Previous: $15.1M-6.2%
Cash & Equivalents

$96.3M

Previous: $42.2M+128.3%
Total Assets

$157M

Previous: $98.3M+60.1%
Stock-Based Comp

$2.03M

Previous: $2.12M-3.9%

Revenue & EPS history

Harrow · Revenue · Quarterly

$20.3M

Q4 2022+0.7%vs Q4 2021
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Forward guidance

Harrow is excited and prepared for what 2023 and beyond has in store, but the report also contains forward-looking statements that are subject to risks and uncertainties.

Headwinds

  • The continued impact of the COVID-19 pandemic and any future health epidemics on financial condition, liquidity and results of operations.
  • Ability to make commercially available FDA-approved products and compounded formulations and technologies in a timely manner or at all.
  • Market acceptance of the Company’s products and challenges related to the marketing of the Company’s products.
  • Risks related to pharmacy operations.
  • Ability to enter into other strategic alliances, including arrangements with pharmacies, physicians and healthcare organizations for the development and distribution of products.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+1.6%

Avg return

Earnings day

+3.0%

Avg return

5 days after

+8.3%

Avg return

30 days after

52%

25 / 48 earnings

Positive

+49.3%

Q2 2024

Best reaction

-36.0%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.4%-18.5%-6.3%
Q4 2025+2.3%-32.2%-34.1%
Q3 2025+13.6%+19.5%+49.7%
Q1 2025+3.4%+6.5%+25.4%
Q4 2024-6.0%+21.8%+2.9%
Q3 2024-14.1%-23.9%-28.9%
Q2 2024+49.3%+56.3%+67.2%
Q1 2024+40.0%+44.5%+57.3%
Q4 2023+0.3%+9.6%+3.4%
Q3 2023-36.0%-30.2%-21.7%
Q2 2023-17.4%-14.7%-26.8%
Q1 2023-20.5%-24.1%-26.9%
Q4 2022+6.7%+22.9%+42.6%
Q3 2022-4.2%-9.4%+10.5%
Q2 2022+12.2%+24.6%+32.6%
Q1 2022+3.3%-5.3%+15.3%
Q4 2021+3.0%-1.4%-1.7%
Q3 2021-4.9%-3.3%-21.1%
Q2 2021-0.3%-0.8%+13.0%
Q1 2021+15.8%+14.5%+14.0%
Q4 2020+3.5%+3.4%-12.3%
Q3 2020+25.8%+30.0%+19.9%
Q2 2020+4.8%+10.4%+15.0%
Q1 2020-5.8%-9.7%+36.5%
Q4 2019-7.5%-16.0%-3.8%
Q3 2019+18.6%+16.1%+33.8%
Q2 2019-23.6%-21.7%-8.0%
Q1 2019+10.1%+16.5%+26.6%
Q4 2018-7.5%-20.3%-30.1%
Q3 2018+7.2%+23.0%+38.4%
Q2 2018+13.4%+29.3%+26.4%
Q1 2018+9.3%+5.3%+6.2%
Q4 2017-3.4%-5.3%-3.9%
Q3 2017+5.7%+19.1%+7.6%
Q2 2017-7.9%-9.7%-28.2%
Q1 2017-4.8%-12.6%-22.5%
Q4 2016+2.9%+17.0%+79.7%
Q3 2016-9.8%-13.2%-28.9%
Q2 2016-3.1%-2.6%+6.5%
Q1 2016+1.9%
Q4 2015-2.2%
Q3 2015-6.2%
Q2 2015-1.3%
Q1 2015+1.3%
Q4 2014+3.5%
Q3 2014-2.7%
Q2 2014+7.8%
Q2 2010-1.0%

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