HROW Q3 FY26 earnings call: key takeaways

• HARO reported third quarter revenue of $99.3 million, exceeding the $99.07 million consensus estimate (16:38)
• The company reaffirmed its full-year revenue guidance of $350 million to $365 million (18:12)
• The main message of the call was continued momentum and confidence in the business's growth trajectory. (12:55)

Results vs expectations

EPS basis: Provider EPS (EODHD), not yet checked against the SEC

What changed since last quarter

• Full-year revenue guidance was reaffirmed, but adjusted EBITDA outlook was lowered to over $40 million, reflecting higher expenses and a more conservative approach. (18:12)
• The company accelerated spending on clinical and development programs, including Quell, TriEssence FETI, and Yocho, impacting near-term profitability. (19:52)
• The GMILT NDA submission was moved to Q4, bringing in FDA filing fees and preparation-related expenses. (19:52)

What analysts pressed on

• Concerns about the potential impact of the Terviya licensing issue on VVI sales and partnerships. (39:40)
• Questions about the sustainability of BioViz's growth and its performance in the fourth quarter. (43:24)

In their words

• We're continuing our momentum, and I expect the fourth quarter to be the strongest quarter in Harrow's history. Mark Baum (12:55)
• We're making real progress. We promised that we would make progress on covered prescriptions. I think we're meeting that promise. Andrew Boll (34:02)