Harrow, Inc. income statement
In fiscal 2025, Harrow, Inc. reported revenue of $272m, up 36.4% on the year before, operating income of $30.5m (a 11.2% margin) and net income of −$5.1m, or −$0.14 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 2 | 10 | 20 | 27 | 41 | 51 | 49 | 72 | 89 | 130 | 200 | 272 | 276 |
| Cost of revenue | — | — | — | — | 14 | 17 | 17 | 14 | 18 | 25 | 40 | 49 | 68 | 74 |
| Gross profit | 0 | 1 | 5 | 10 | 13 | 25 | 34 | 34 | 54 | 63 | 91 | 150 | 204 | 202 |
| Research and development | 2 | 0 | 0 | 1 | 0 | 1 | 2 | 2 | 11 | 3 | 7 | 12 | 21 | 29 |
| Selling, general and administrative | 6 | — | — | — | 25 | 29 | 33 | 31 | 41 | 58 | 83 | 129 | 153 | 176 |
| Selling and marketing | — | 2 | 6 | 7 | — | — | — | — | — | — | — | — | — | — |
| General and administrative | — | 8 | 13 | 18 | — | — | — | — | — | — | — | — | — | — |
| Operating income | −8 | −10 | −15 | −16 | −12 | −5 | −5 | 0 | 2 | 2 | 0 | 9 | 31 | −3 |
| Interest expense | — | 0 | — | — | — | — | — | — | 5 | 7 | 21 | 23 | 24 | 23 |
| Net interest income | — | 0 | −1 | −3 | −3 | −3 | −3 | −2 | −5 | — | — | — | — | — |
| Income before tax | — | — | — | −19 | −13 | 15 | −0 | −3 | −18 | −14 | −24 | −17 | −1 | −33 |
| Income tax | — | 0 | 0 | −0 | −1 | — | 0 | 0 | 0 | 0 | 1 | 0 | 4 | — |
| Net income | −8 | −10 | −16 | −19 | −12 | 15 | 0 | −3 | −18 | −14 | −24 | −17 | −5 | −37 |
| Diluted EPS | −$0.88 | −$1.11 | −$1.66 | −$1.50 | −$0.60 | $0.61 | $0.01 | −$0.13 | −$0.69 | −$0.51 | −$0.75 | −$0.49 | −$0.14 | −$1.01 |
| Diluted shares (average) | 9m | 9m | 10m | 13m | 20m | 24m | 26m | 26m | 27m | 27m | 33m | 36m | 37m | 37m |
| EBITDA | −8 | −10 | −15 | −15 | −11 | −4 | −3 | 2 | 3 | 3 | 1 | 10 | 32 | −1 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 49 | 67 | 48 | 64 | 72 | 89 | 44 | 71 |
| Cost of revenue | 12 | 14 | 16 | 16 | 18 | 18 | 17 | 20 |
| Gross profit | 37 | 53 | 32 | 48 | 54 | 71 | 27 | 50 |
| Research and development | 2 | 5 | 3 | 3 | 3 | 12 | 6 | 8 |
| Selling, general and administrative | 34 | 35 | 41 | 33 | 36 | 43 | 43 | 53 |
| Operating income | 1 | 13 | −11 | 11 | 15 | 16 | −22 | −11 |
| Interest expense | 6 | 6 | 7 | 6 | 6 | 5 | 5 | 6 |
| Income before tax | −4 | 6 | −18 | 5 | 1 | 10 | −28 | −17 |
| Income tax | 0 | −1 | — | 0 | — | — | 0 | 0 |
| Net income | −4 | 7 | −18 | 5 | 1 | 7 | −28 | −17 |
| Diluted EPS | −$0.12 | $0.19 | −$0.50 | $0.13 | $0.03 | $0.18 | −$0.74 | −$0.46 |
| EBITDA | 2 | 13 | −11 | 12 | 15 | 16 | −22 | −11 |
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