Harrow, Inc. (HROW)

From the record

Harrow, Inc.'s filings since 2017 show 3 warning events of 2 kinds: an auditor change (8-K item 4.01, 2 times, the latest 2025-09-19); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2025-03-17) (its current reports).

From the record

Harrow, Inc.'s 9 filed years say what it did: revenue went from $27 million in fiscal 2017 to $272 million in fiscal 2025, up 33.6% a year; it rose in 7 of 8 years; the deepest fall was 4% from fiscal 2019 to fiscal 2020; net income was positive in 2 of 9 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Harrow, Inc.'s diluted share count grew about 10.2% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 1 sale and 4 purchases of their own stock on the open market in the year to 2026-09-30, buying about $469 thousand (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Harrow, Inc. lost about 10 cents for every dollar of shareholders' money, and gross profitability: its products earned about 51 cents per dollar of everything the company owns. Leverage: it owed about 87 cents per dollar of assets, and net share issuance: its share count grew 3.1% over the year (the filed statements).

From the record

Harrow, Inc.'s standing among 315 graded names in its industry family: revenue of $272 million in fiscal 2025 ranks in the top 25% by size; a net margin of -1.9% ranks in the top 25%; revenue growth of 45.4% a year over the last 3 filed years ranks in the top 25% (its annual reports).

From the record

Harrow, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Baum, Mark L (CHIEF EXECUTIVE OFFICER, as filed), filing under that title since 2012-04-27, 14.5 years (top 6% of its family); the 9 officers and directors filing in the last fifteen months have been on the record a median of 2.8 years (bottom 13%); 7 officer or director changes were reported on Form 8-K since 2023-11-13, against the 9 people in charge now (bottom 21%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Harrow, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $73 million against debt of $250 million leaves -44.3% of its assets as net cash, bottom 2% of its family; cash from operations less capital spending is 15.8% of revenue (top 17%); a gross margin of 75.1% (top 40%); research spending of 7.7% of revenue (bottom 11%) (its annual report).

From the record

Harrow, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 45.4% a year over the last three filed years against 33.6% over all 9, speeding up (top 17% of its family); the newest year grew 36.4% (top 31%); research spending grew 90% a year (top 3%); capital spending grew -30.1% a year (bottom 38%) (its annual reports). Harrow, Inc. reported 2 lines of business in fiscal 2025: Branded at $196 million (72%), Imprimis Rx at $77 million (28%); 1 of 2 grew against the year before (its annual report).

From the record

Harrow, Inc.'s newest year against its own record: revenue of $272 million in fiscal 2025 came in 9.1% below the $300 million its prior three years' pace pointed to (bottom 41% of its family); net income of $5 million against a prior three-year average of $19 million (top 23%); a net margin of -1.9% against -14.5% before (top 48%) (its annual reports).