Harrow Health, Inc. (HROW) Income Statement
HROW 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHROW revenue and net income
Where HROW's revenue goes
2025Each bar shows an amount and its share of revenue. HROW kept −1.9% of revenue as net income.
HROW profit margins
HROW growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +36.4% | +45.4% | +41.0% | +39.6% |
| Gross profit | +35.9% | +47.9% | +42.8% | +46.4% |
| Operating income | +337.6% | +172.0% | +151.3% | — |
| Net income | — | — | — | — |
| EPS (diluted) | +4,500.0% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HROW quarterly EPS vs estimates
Harrow Health beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 9, 2026 (estimate $0.17).
HROW income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $272.3M | $199.6M | $130.2M | $88.6M | $72.5M | $48.9M | $51.2M | $41.4M | $26.8M | $19.9M |
| Cost of revenue | $67.9M | $49.2M | $39.6M | $25.4M | $18.2M | $14.5M | $16.7M | $16.5M | $13.5M | $9.8M |
| Gross profit | $204.4M | $150.4M | $90.6M | $63.2M | $54.3M | $34.4M | $34.4M | $24.9M | $13.3M | $10.1M |
| Research & development | $12.8M | $12.2M | $6.7M | $3.0M | $11.1M | $2.4M | $2.1M | $825,000 | $413,000 | $739,000 |
| Sales, general & admin | $152.9M | $129.1M | $83.1M | $58.2M | $41.3M | $31.2M | $33.1M | $29.2M | $25.0M | $25.0M |
| Total operating expenses | $165.8M | $141.5M | $90.1M | $61.3M | $52.6M | $34.0M | $39.2M | $30.1M | $25.4M | $25.7M |
| Operating income | $38.6M | $8.8M | $431,000 | $1.9M | $1.6M | $385,000 | −$4.8M | −$5.2M | −$12.2M | −$15.9M |
| Interest income | — | — | — | — | — | — | $4.0M | $20.1M | $5.2M | $2.9M |
| Interest expense | $24.2M | $22.8M | $21.3M | $7.2M | $5.4M | $2.2M | $2.5M | $2.7M | $3.0M | $2.8M |
| Income before taxes | −$1.7M | −$17.3M | −$23.7M | −$14.0M | −$17.9M | −$3.4M | −$117,000 | $14.6M | −$12.9M | −$19.2M |
| Income taxes | $3.4M | $161,000 | $701,000 | $75,000 | $133,000 | $4,000 | $8,000 | −$19.4M | −$935,000 | −$111,000 |
| Net income | −$5.1M | −$17.5M | −$24.4M | −$14.1M | −$18.0M | −$3.4M | $168,000 | $14.6M | −$12.0M | −$19.1M |
| EBITDA | $42.1M | $23.6M | $13.2M | −$3.1M | $5.8M | $3.5M | $1.9M | −$3.4M | −$10.4M | −$14.2M |
| EPS (diluted) | $0.46 | $0.01 | −$0.39 | −$0.12 | −$0.05 | −$0.10 | −$0.28 | $0.59 | −$0.88 | −$1.26 |
| Gross margin | 75.1% | 75.3% | 69.6% | 71.3% | 74.9% | 70.4% | 67.3% | 60.1% | 49.6% | 50.7% |
| Operating margin | 14.2% | 4.4% | 0.3% | 2.2% | 2.2% | 0.8% | −9.4% | −12.6% | −45.4% | −79.6% |
| Net margin | −1.9% | −8.8% | −18.7% | −15.9% | −24.8% | −6.9% | 0.3% | 35.3% | −44.8% | −95.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $70.7M | $44.2M | $89.1M | $71.6M | $63.7M | $47.8M | $66.8M | $49.3M | $48.9M | $34.6M | $36.4M | $34.3M |
| Cost of revenue | $20.3M | $17.2M | $18.5M | $17.7M | $16.2M | $15.5M | $14.1M | $12.0M | $12.5M | $10.6M | $11.3M | $10.1M |
| Gross profit | $50.4M | $27.0M | $70.6M | $53.9M | $47.5M | $32.3M | $52.7M | $37.2M | $36.4M | $24.0M | $25.1M | $24.2M |
| Research & development | $8.1M | $5.9M | $3.3M | $3.3M | $2.9M | $3.0M | $4.8M | $2.3M | $3.1M | $2.1M | $3.3M | $1.4M |
| Sales, general & admin | $53.3M | $43.2M | $43.3M | $35.9M | $33.2M | $40.5M | $34.8M | $33.6M | $31.8M | $28.8M | $26.2M | $21.0M |
| Total operating expenses | $61.4M | $49.1M | $46.6M | $39.2M | $36.1M | $43.5M | $39.8M | $35.9M | $34.9M | $31.0M | $29.9M | $22.5M |
| Operating income | −$11.0M | −$22.1M | $24.0M | $14.7M | $11.4M | −$11.2M | $12.9M | $1.3M | $1.5M | −$6.9M | −$4.9M | $1.7M |
| Interest expense | $6.3M | $5.5M | $5.2M | $6.0M | $6.4M | $6.5M | $6.4M | $5.5M | $5.5M | $5.4M | $5.1M | $5.7M |
| Income before taxes | −$17.3M | −$27.6M | $10.4M | $1.0M | $5.0M | −$17.8M | $6.3M | −$4.2M | −$5.8M | −$13.6M | −$9.7M | −$2.9M |
| Income taxes | — | $25,000 | $3.8M | — | — | — | −$514,000 | $20,000 | $655,000 | $3.1M | −$535,000 | $1.5M |
| Net income | −$17.3M | −$27.6M | $6.6M | $1.0M | $5.0M | −$17.8M | $6.8M | −$4.2M | −$6.5M | −$13.6M | −$9.1M | −$4.4M |
| EBITDA | −$4.8M | −$16.5M | $20.6M | $12.0M | $16.3M | −$6.3M | $18.0M | $4.7M | $2.9M | −$5.0M | −$1.4M | $6.1M |
| EPS (diluted) | −$0.34 | −$0.74 | $0.27 | $0.33 | $0.24 | −$0.38 | $0.40 | −$0.05 | −$0.06 | −$0.28 | −$0.25 | −$0.09 |
| Gross margin | 71.3% | 61.2% | 79.3% | 75.3% | 74.5% | 67.5% | 78.8% | 75.6% | 74.4% | 69.5% | 68.9% | 70.6% |
| Operating margin | −15.6% | −50.0% | 27.0% | 20.6% | 17.9% | −23.5% | 19.3% | 2.7% | 3.1% | −20.0% | −13.4% | 5.1% |
| Net margin | −24.4% | −62.4% | 7.4% | 1.4% | 7.8% | −37.2% | 10.1% | −8.6% | −13.2% | −39.2% | −25.2% | −12.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HROW's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HROW financial results
In fiscal year 2025 (ended December 31, 2025), Harrow Health reported revenue of $272.3 million, up 36.4% from the year before. It had a net loss of $5.1 million, a net profit margin of −1.9%. Diluted earnings per share came to $0.46. Over five years revenue grew at an average rate of 41.0% a year.
See the HROW stock overview for the latest quote and news, or the HROW chart for price history and technical indicators.
HROW income statement FAQ
What is Harrow Health's annual revenue?
Harrow Health reported total revenue of $272.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 36.4% from $199.6 million the previous year.
Is Harrow Health profitable?
No. Harrow Health reported a net loss of $5.1 million in fiscal 2025, a net profit margin of −1.9%; its operating margin was 14.2%.
What is Harrow Health's gross margin?
Harrow Health's gross margin was 75.1% in fiscal 2025: for every $100 of revenue, Harrow Health kept $75 after the direct cost of its products and services.
How much does Harrow Health spend on research and development?
Harrow Health spent $12.8 million on research and development in fiscal 2025, 4.7% of revenue.
How fast is Harrow Health growing?
Revenue grew 41.0% a year on average over the last five fiscal years, from $48.9 million to $272.3 million.
What are Harrow Health's earnings per share?
Harrow Health earned $0.46 per diluted share in fiscal 2025, compared with $0.01 a year earlier.
When will Harrow Health report its next earnings?
Harrow Health is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 after the market closes.
When does Harrow Health's fiscal year end?
Harrow Health's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.