Filing Flows › Harrow (HROW) › Q1 2025
Harrow (HROW) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Harrow (HROW) reported revenue of $47.8M for the first quarter 2025 (Q1 2025), +38% from a year earlier and -28% from the quarter before. Operating margin was -23.5%, net loss $17.8M (37.2% of revenue).
Harrow, Q1 2025: revenue $47.8M (+38% year over year), operating margin -23.5%, net loss $17.8M, operating cash flow $19.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $47.8M | -28% | +38% |
| Operating profit | −$11.2M | -187% | — |
| Net earnings | −$17.8M | -362% | — |
| Operating cash flow | $19.7M | — | — |
| Free cash flow | $19.5M | — | — |
What changed
Revenue was $47.8M in Q1 2025, up 38% year over year and down 28% from the previous quarter. Product Sales Net was the largest line at 100% of revenue. Product Sales Net added $13.2M year over year (up 38%), 100% of the total change.
Gross margin was 67.5%, down 1.9 points from a year earlier. Operating costs exceeded revenue by $11.2M, an operating margin of -23.5%. Operating expenses grew 41% against revenue growth of 38%. The fastest-growing cost line was Research & development (+41%). The quarter ended with a net loss of $17.8M, after a profit of $6.8M the previous quarter.
Operating cash flow was $19.7M. Non-cash charges added back $312K of depreciation and amortization and $4.6M of share-based compensation. Working capital and other items added $32.6M. Capital expenditures of $170K left free cash flow of $19.5M.
Questions
What was Harrow's revenue in the first quarter 2025?
Harrow (HROW) reported revenue of $47.8M for the first quarter 2025 (Q1 2025), +38% from a year earlier and -28% from the quarter before.
Was Harrow profitable in the first quarter 2025?
Operating loss was $11.2M (-23.5% of revenue) and net loss $17.8M.
Source: Harrow 10-Q on SEC EDGAR.