Harrow falls on downbeat Q3 revenue

Harrow

14/11/2023 15:54

(Updates)
    ** Shares of eye-drug maker Harrow Inc  HROW.O  fall ~36% to
$8.2
    ** Stock among top pct. losers across U.S. exchanges 
    ** Late Monday, company posted Q3 revenue of $34.3 mln,
missing average analyst estimate of $37.58 mln, per LSEG data
    ** HROW's adj. earnings before interest, tax, depreciation
and amortization (EBITDA) at $9.21 mln vs analysts' estimate of
$12.75 mln 
    ** Company sees 2023 revenue in the range of $129 mln to
$135 mln, and expects 2024 revenue of more than $180 mln
    ** Including session's fall, stock down ~44% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))