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Harrow Inc

harrow.com

Harrow Inc. (NASDAQ: HROW) is a pharmaceutical company that compounds and commercializes drug products primarily for ophthalmic and other specialty medical uses. Revenue comes from selling compounded and FDA-approved drug products directly to doctors, ambulatory surgery centers, healthcare systems, and hospitals across the United States. Harrow operates an FDA-registered Section 503B outsourcing facility, which is subject to current good manufacturing practice (cGMP) requirements and FDA inspection authority. The company's sales and marketing focus is domestic, with limited international presence through distributor and out-licensing arrangements in markets including Canada. Harrow has a limited history of profitability and carries meaningful debt, including $242.7 million in senior notes (the 2030 Notes) issued in September 2025 and a $40 million secured revolving credit facility with Fifth Third Bank as of September 2025. The company has a subsidiary called Surface and may pursue additional product acquisitions to build on its existing commercial infrastructure.

Products & Services

Compounded drug formulations produced at an FDA-registered Section 503B outsourcing facility, FDA-approved drug products, and proprietary pharmaceutical formulations; specific product names are not detailed in the available filing excerpts.

Revenue Model

Transactional product sales of compounded and FDA-approved pharmaceutical formulations to healthcare providers, supplemented by out-licensing arrangements for certain products in international markets.

Customers & Markets

Physicians, ambulatory surgery centers, healthcare systems, and hospitals in the United States; specialty pharmacy end markets with a concentration in ophthalmic and surgical-use drugs.

Geographic Exposure

Primarily United States; limited international presence through distributors and out-licensing arrangements including Canada, as noted in the FY2025 10-K filed 2026-03-02.

Financial Snapshot

Revenue
TTM
$275.6M
Gross Margin
TTM
71.75%
Net Income
TTM
-$37.23M
Current Assets
2026 Q2
Current Liabilities
2026 Q2
Current Ratio
2026 Q2
224.43%
Total Assets
2026 Q2
Total Liabilities
2026 Q2
Book Value
2026 Q2
$14.85M
Cash
2026 Q2
P/E
Last 4 Quarters
N/A
Free Cash Flow
TTM
$4.801M

Stock Price

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Market Cap: $1.492 Billion

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