Harrow falls on downbeat Q3 revenue

Harrow

14/11/2024 11:21

** Shares of eye-drug maker Harrow Inc  HROW.O  fall 24.7%
to $39 premarket 
    ** Co's Q3 revenue rose 43.8% to $49.3 mln, missing
estimates of $52.8 mln as per data compiled by LSEG
    ** HROW's adj. earnings before interest, tax, depreciation
and amortization at $8.8 mln vs estimates of $11.7 mln
    ** Reported qtrly. loss of 12 cents​​ per share 
    ** Alongside 44% Y-o-Y revenue growth, co achieved a modest
sequential revenue increase, despite Q3's traditional summer
seasonality and operational bumps that pushed some Q3 revenue
into Q4 - Mark L. Baum, CEO
    ** Avg rating of 4 brokerages is a "buy"; median PT is $60 -
LSEG data
    ** As of last close, stock has more than quadrupled YTD

 (Reporting by Sukriti Gupta in Bengaluru)
 ((Sukriti.Gupta@thomsonreuters.com;))