Harrow, Inc. Q2 2024 10-Q Filing
Ticker: HROW · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 1360214
| Field | Detail |
|---|---|
| Company | Harrow, INC. (HROW) |
| Form Type | 10-Q |
| Filed Date | Aug 7, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, debt, pharmaceuticals
Related Tickers: HROW
TL;DR
**Harrow Inc. 10-Q out: Q2 financials & debt details filed.**
AI Summary
Harrow, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported product sales and other revenues, with specific figures for the second quarter and the first half of the year. The filing also details the company's common stock and senior notes due in 2026 and 2027.
Why It Matters
This filing provides investors with an update on Harrow, Inc.'s financial performance and capital structure for the second quarter of 2024.
Risk Assessment
Risk Level: medium — The filing contains financial data and debt information, which are crucial for assessing the company's financial health and associated risks.
Key Numbers
- 20240630 — Period End Date (Latest reported financial period)
- 20240807 — Filing Date (Date the report was submitted to the SEC)
Key Players & Entities
- HARROW, INC. (company) — Filer
- 0001360214 (company) — Central Index Key
- 20240630 (date) — Period of Report
- 20240807 (date) — Filing Date
- 8.625% Senior Notes Due 2026 (dollar_amount) — Debt Instrument
- 11.875% Senior Notes Due 2027 (dollar_amount) — Debt Instrument
FAQ
What were Harrow, Inc.'s product sales for the second quarter of 2024?
The filing indicates 'HROW:ProductSalesNetMember' for the period 2024-04-01 to 2024-06-30, but specific dollar amounts are not detailed in this header information.
What is the maturity date for Harrow, Inc.'s 8.625% Senior Notes?
The 8.625% Senior Notes Due 2026 mature in 2026, as indicated by 'HROW:Sec8.625SeniorNotesDue2026Member'.
What is the maturity date for Harrow, Inc.'s 11.875% Senior Notes?
The 11.875% Senior Notes Due 2027 mature in 2027, as indicated by 'HROW:Sec11.875SeniorNotesDue2027Member'.
What was the total net product sales for the first six months of 2024?
The filing references 'HROW:ProductSalesNetMember' for the period 2024-01-01 to 2024-06-30, but the specific value is not provided in this header.
When was Harrow, Inc. previously known as Imprimis Pharmaceuticals, Inc.?
The date of the name change from Imprimis Pharmaceuticals, Inc. to Harrow Health, Inc. was 20120301.
Filing Stats: 4,492 words · 18 min read · ~15 pages · Grade level 16.8 · Accepted 2024-08-07 17:15:11
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) — 1174KB
- ex31-1.htm (EX-31.1) — 17KB
- ex31-2.htm (EX-31.2) — 17KB
- ex32-1.htm (EX-32.1) — 8KB
- 0001493152-24-030575.txt ( ) — 7471KB
- hrow-20240630.xsd (EX-101.SCH) — 54KB
- hrow-20240630_cal.xml (EX-101.CAL) — 82KB
- hrow-20240630_def.xml (EX-101.DEF) — 301KB
- hrow-20240630_lab.xml (EX-101.LAB) — 490KB
- hrow-20240630_pre.xml (EX-101.PRE) — 426KB
- form10-q_htm.xml (XML) — 1155KB
Financial Statements
Financial Statements 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 24 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.
Controls and Procedures
Controls and Procedures 30 Part II OTHER INFORMATION 31 Item 1.
Legal Proceedings
Legal Proceedings 31 Item 1A.
Risk Factors
Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 31
Signatures
Signatures 32 2 PART I FINANCIAL INFORMATION Item 1. Financial Statements HARROW, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 70,968,000 $ 74,085,000 Investment in Eton Pharmaceuticals - 8,681,000 Accounts receivable, net 51,988,000 36,261,000 Inventories 9,425,000 10,867,000 Prepaid expenses and other current assets 7,009,000 9,588,000 Total current assets 139,390,000 139,482,000 Property, plant and equipment, net 3,288,000 3,521,000 Capitalized software costs, net 1,966,000 2,138,000 Operating lease right-of-use assets, net 6,770,000 6,785,000 Intangible assets, net 154,884,000 159,906,000 Goodwill 332,000 332,000 TOTAL ASSETS $ 306,630,000 $ 312,164,000 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 22,264,000 $ 24,581,000 Accrued rebates and copay assistance 24,551,000 18,432,000 Accrued payroll and related liabilities 5,721,000 5,450,000 Deferred revenue and customer deposits 248,000 75,000 Current portion of operating lease obligations 767,000 806,000 Total current liabilities 53,551,000 49,344,000 Operating lease obligations, net of current portion 6,543,000 6,524,000 Accrued expenses, net of current portion 2,713,000 2,713,000 Deferred tax liability 623,000 - Notes payable, net of unamortized debt discount 185,023,000 183,172,000 TOTAL LIABILITIES 248,453,000 241,753,000 Commitments and contingencies - - STOCKHOLDERS' EQUITY Common stock, $ 0.001 par value, 50,000,000 shares authorized, 35,479,492 and 35,168,260 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 35,000 35,000 Additional paid-in capital 212,439,000 204,635,000 Accumulated deficit ( 153,942,000 ) ( 133,904,000 ) TOTAL HARROW, INC. STOCKHOLDERS' EQUITY 58,532,000 70,766,000 Nonc