Harrow Announces Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 revenue $99.3 million, up 39% year over year
- ➤Branded revenue $83.5 million, up 62% year over year
- ➤Full-year revenue guidance reaffirmed at $350 million to $365 million
- ➤Full-year Adjusted EBITDA guidance cut to more than $40 million
- ➤TYRVAYA acquisition completed, with first revenue contribution expected in Q4 2026
Expert Statements
Mark L. Baum, Chairman and Chief Executive Officer of Harrow
“The third quarter delivered the second-half acceleration we anticipated,”
Mark L. Baum, Chairman and Chief Executive Officer of Harrow
“Branded products drove record revenue, growing 62% year over year.”
Mark L. Baum, Chairman and Chief Executive Officer of Harrow
“VEVYE delivered record quarterly revenue, supported by continued prescription growth, improving economics, and increasing productivity from our expanded sales force.”
Mark L. Baum, Chairman and Chief Executive Officer of Harrow
“TRIESENCE delivered a record quarter, while IHEEZO unit demand grew 21% year over year.”
Mark L. Baum, Chairman and Chief Executive Officer of Harrow
“Looking to the fourth quarter, we expect to benefit from continued VEVYE and TRIESENCE growth, IHEEZO’s historically strongest period, and TYRVAYA’s initial revenue contribution.”
Mark L. Baum, Chairman and Chief Executive Officer of Harrow
“Achieving our full-year revenue guidance of $350 million to $365 million will require strong execution, but we continue to believe it is achievable.”
Mark L. Baum, Chairman and Chief Executive Officer of Harrow
“We expect the fourth quarter to be Harrow’s strongest on record and that second-half revenue will exceed the high end of what we contemplated in March.”
Mark L. Baum, Chairman and Chief Executive Officer of Harrow
“That said, our updated Adjusted EBITDA outlook reflects both the first half operating shortfall against our original plan and additional spending to accelerate our G-MELT NDA submission, advance important development programs, and integrate TYRVAYA.”
Mark L. Baum, Chairman and Chief Executive Officer of Harrow
“We expect more than $33 million in fourth-quarter Adjusted EBITDA, bringing our full-year outlook to more than $40 million.”
Mark L. Baum, Chairman and Chief Executive Officer of Harrow
“To be clear: our amended Adjusted EBITDA outlook is a floor, and we believe there is opportunity to exceed it.”
Third Quarter 2026 and Selected Highlights: * Record third quarter revenue of $99.3 million, up 41% sequentially and 39% year over year * Branded revenue of $83.5 million, up 62% year over year and approximately 84% of total revenue * GAAP net income of $9.8 million, including a $5.0 million litigation settlement gain, compared with a net loss of $17.3 million in the second quarter of 2026 and net income of $1.0 million in the third quarter of 2025 * Adjusted EBITDA (a non-GAAP measure) of $21.2 million, compared with $(1.2) million in the second quarter of 2026 and $22.8 million in the third quarter of 2025 * Reaffirmed full-year 2026 revenue guidance of $350 million to $365 million; updated full-year 2026 Adjusted EBITDA guidance to more than $40 million, including fourth quarter Adjusted EBITDA of more than $33 million, compared with prior Adjusted EBITDA guidance of $80 million to $100 million * Cash and cash equivalents of $75.3 million as of September 30, 2026
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