Tiger Brokers

BUZZ-Harrow falls on downbeat Q3 revenue

Reuters
Nov 14, 2024
BUZZ-Harrow falls on downbeat Q3 revenue

** Shares of eye-drug maker Harrow Inc HROW.O fall 24.7% to $39 premarket

** Co's Q3 revenue rose 43.8% to $49.3 mln, missing estimates of $52.8 mln as per data compiled by LSEG

** HROW's adj. earnings before interest, tax, depreciation and amortization at $8.8 mln vs estimates of $11.7 mln

** Reported qtrly. loss of 12 cents​​ per share

** Alongside 44% Y‑o‑Y revenue growth, co achieved a modest sequential revenue increase, despite Q3's traditional summer seasonality and operational bumps that pushed some Q3 revenue into Q4 - Mark L. Baum, CEO

** Avg rating of 4 brokerages is a "buy"; median PT is $60 - LSEG data

** As of last close, stock has more than quadrupled YTD

(Reporting by Sukriti Gupta in Bengaluru)

((Sukriti.Gupta@thomsonreuters.com;))

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