Harrow Q1 revenue misses analyst estimates

Harrow

11/05/2026 21:22

Overview

U.S. ophthalmic solutions provider's Q1 revenue declined and missed analyst expectations

Gross margin for Q1 fell to 61% from 68% a year earlier

Company expects Q2 revenue to improve as VEVYE adjustment impact subsides

Outlook

Company expects Q2 revenue between $71 mln and $81 mln

Harrow Inc reaffirms full-year 2026 revenue guidance at $350 mln to $365 mln

Company says expanded commercial coverage and improved net pricing to benefit Q2 results

Result Drivers

VEVYE REVENUE ADJUSTMENT - Q1 revenue was reduced by a non-recurring $8 mln gross-to-net adjustment related to new commercial coverage for VEVYE, which the company says will not recur in future quarters

STRONG PRODUCT DEMAND - VEVYE delivered record prescription growth, IHEEZO unit demand rose 18% year-over-year, and TRIESENCE unit demand more than doubled, driven by robust prescriber adoption and expanding market share

GROSS MARGIN PRESSURE - Gross margin declined to 61% from 68% a year earlier, reflecting the impact of the VEVYE revenue adjustment and product mix

Company press release: ID:nGNX3f4zqL

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$44.2 mln
$52.42 mln (8 Analysts)
Q1 Gross Margin
61.00%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Harrow Inc is $63.00, about 64.8% above its May 8 closing price of $38.23

The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 28 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)