Harrow, Inc. Files 10-Q for Q1 2024

TL;DR

<b>Harrow, Inc. filed its Q1 2024 10-Q report, detailing financial performance and corporate information.</b>

AI Summary

HARROW, INC. (HROW) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Harrow, Inc. reported financial results for the first quarter ended March 31, 2024. The company's fiscal year ends on December 31. Harrow, Inc. is incorporated in Delaware. The company's principal executive offices are located in Nashville, TN. Harrow, Inc. was formerly known as Harrow Health, Inc., Imprimis Pharmaceuticals, Inc., and Transdel Pharmaceuticals Inc.

Why It Matters

For investors and stakeholders tracking HARROW, INC., this filing contains several important signals. This filing provides investors with the latest quarterly financial data, allowing for an assessment of the company's performance and trends. Understanding the company's historical name changes and current corporate structure is crucial for accurate historical analysis and investor relations.

Risk Assessment

Risk Level: low — HARROW, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain significant new risks or disclosures beyond routine updates.

Analyst Insight

Monitor Harrow, Inc.'s revenue growth and net income trends in subsequent filings to assess the impact of its product sales and other revenue streams.

Key Numbers

• 2024-03-31 — Conformed Period of Report (10-Q Filing)
• 2024-05-13 — Filed As Of Date (10-Q Filing)
• 1231 — Fiscal Year End (Company Data)
• 2834 — Standard Industrial Classification (Company Data)

Key Players & Entities

• HARROW, INC. (company) — FILER
• Harrow Health, Inc. (company) — FORMER COMPANY
• Imprimis Pharmaceuticals, Inc. (company) — FORMER COMPANY
• TRANSDEL PHARMACEUTICALS INC (company) — FORMER COMPANY
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-13 (date) — FILED AS OF DATE
• Nashville, TN (location) — BUSINESS ADDRESS
• DE (location) — STATE OF INCORPORATION

FAQ

Industry Context

Harrow, Inc. operates within the pharmaceutical preparations industry, focusing on developing and commercializing ophthalmic pharmaceuticals.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file quarterly reports (10-Q) detailing financial performance and business operations.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Track future filings for revenue trends and profitability metrics.
3. Research the company's history, including name changes, to understand its evolution.

Key Dates

• 2024-03-31: End of Reporting Period — Q1 2024 financial data
• 2024-05-13: Filing Date — 10-Q submission

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing the initial quarterly update compared to the previous fiscal year's filings.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share HROW The Nasdaq

Filing Documents

• form10-q.htm (10-Q) — 1062KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 20KB
• ex32-1.htm (EX-32.1) — 10KB
• 0001493152-24-018902.txt (&nbsp;) — 6859KB
• hrow-20240331.xsd (EX-101.SCH) — 54KB
• hrow-20240331_cal.xml (EX-101.CAL) — 80KB
• hrow-20240331_def.xml (EX-101.DEF) — 280KB
• hrow-20240331_lab.xml (EX-101.LAB) — 426KB
• hrow-20240331_pre.xml (EX-101.PRE) — 370KB
• form10-q_htm.xml (XML) — 1066KB

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28 Part II OTHER INFORMATION 29 Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 29

Signatures

Signatures 30 2 PART I FINANCIAL INFORMATION Item 1. Financial Statements HARROW, INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 68,538,000 $ 74,085,000 Investment in Eton Pharmaceuticals 7,433,000 8,681,000 Accounts receivable, net 28,960,000 37,271,000 Inventories 10,810,000 10,867,000 Prepaid expenses and other current assets 9,717,000 9,588,000 Total current assets 125,458,000 140,492,000 Property, plant and equipment, net 3,389,000 3,521,000 Capitalized software costs, net 2,019,000 2,138,000 Operating lease right-of-use assets, net 6,968,000 6,785,000 Intangible assets, net 157,370,000 159,906,000 Goodwill 332,000 332,000 TOTAL ASSETS $ 295,536,000 $ 313,174,000 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 15,129,000 $ 24,581,000 Accrued rebates and copay assistance 20,690,000 19,442,000 Accrued payroll and related liabilities 5,027,000 5,450,000 Deferred revenue and customer deposits 112,000 75,000 Current portion of operating lease obligations 795,000 806,000 Total current liabilities 41,753,000 50,354,000 Operating lease obligations, net of current portion 6,716,000 6,524,000 Accrued expenses, net of current portion 2,713,000 2,713,000 Notes payable, net of unamortized debt discount 184,148,000 183,172,000 TOTAL LIABILITIES 235,330,000 242,763,000 Commitments and contingencies - - STOCKHOLDERS' EQUITY Common stock, $ 0.001 par value, 50,000,000 shares authorized, 35,380,955 and 35,168,260 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 35,000 35,000 Additional paid-in capital 207,995,000 204,635,000 Accumulated deficit ( 147,469,000 ) ( 133,904,000 ) TOTAL HARROW, INC. STOCKHOLDERS' EQUITY 60,561,000 70,766,000 Noncontrolling interests ( 355

View Full Filing

View this 10-Q filing on SEC EDGAR