What is Harrow Health's earnings per share (EPS)?

Harrow Health (HROWL) reported diluted earnings per share of -$0.14 for fiscal year 2025. This represents a 71.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Harrow Health (HROWL) Financials

HROWL

Trailing 12 months to March 31, 2026

Revenue $268.7M +26.2% YoY

Net Income -$15.0M +31.0% YoY

EPS (Diluted) -$0.14 FY2025 annual

Free Cash Flow $14.3M +3295.0% YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 11, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HROWL SEC filings page.

Harrow Health (HROWL) reported $268.7M in revenue over the twelve months to Mar 31, 2026, up 26.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI HROWL FY2025 2026-08-30

Growth is now converting into cash, but heavy leverage and interest expense still separate operating progress from shareholder earnings.

From FY2024 to FY2025, revenue expanded 36.4% while operating margin more than doubled, indicating costs did not rise in lockstep with sales. Operating cash flow reached $43.9M against $30.5M of operating income, and free cash flow remained nearly as high after modest reinvestment—evidence that the latest operating improvement is reaching cash rather than existing only in accrual earnings.

The improvement is not yet net profitability: $24.2M of interest expense absorbed most of $30.5M operating income, leaving a -$5.1M net result. With $250M of long-term debt against $52.4M of equity, financing structure remains a major earnings drag.

Working capital became less demanding relative to sales: receivables fell to $110.9M even as revenue rose to $272.3M, reducing the receivables burden relative to revenue. Combined with capital spending of only $887K, this helps explain why cash flow recovered more sharply than net income.

Financial Health Signals

Financial health score not available

Harrow Health does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Neutral

6/9

Harrow Health passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

N/A

Harrow Health reported a net loss of $5.1M while generating $43.9M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

1.26x

Harrow Health earns $1.26 in operating income for every $1 of interest expense ($30.5M vs $24.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$44.2M

YoY-7.6%

QoQ-50.4%

5Y CAGR+23.4%

10Y CAGR+26.0%

Harrow Health generated $44.2M in revenue in Q1 2026. This represents a decrease of 7.6% from the same quarter a year earlier. Against the prior quarter it is down 50.4%.

EBITDA

-$21.6M

YoY-100.8%

QoQ-232.1%

Harrow Health's EBITDA was -$21.6M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.8% from the same quarter a year earlier. Against the prior quarter it is down 232.1%.

Net Income

-$27.6M

YoY-55.2%

QoQ-516.6%

Harrow Health reported -$27.6M in net income in Q1 2026. This represents a decrease of 55.2% from the same quarter a year earlier. Against the prior quarter it is down 516.6%.

EPS (Diluted)

-$0.74

YoY-48.0%

Harrow Health earned -$0.74 per diluted share (EPS) in Q1 2026. This represents a decrease of 48.0% from the same quarter a year earlier.

Cash & Balance Sheet

Free Cash Flow

-$9.2M

YoY-147.1%

QoQ-213.8%

Harrow Health recorded an outflow of $9.2M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents a decrease of 147.1% from the same quarter a year earlier. Against the prior quarter it is down 213.8%.

Cash & Debt

$94.6M

YoY+41.8%

QoQ+29.8%

5Y CAGR+71.9%

10Y CAGR+23.1%

Harrow Health held $94.6M in cash against $300.0M in long-term debt as of Q1 2026.

Shares Outstanding

37M

YoY+4.4%

QoQ0.0%

5Y CAGR+7.5%

10Y CAGR+11.0%

Harrow Health had 37M shares outstanding in Q1 2026. This represents an increase of 4.4% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Gross Margin

61.2%

YoY-6.4pp

QoQ-18.1pp

5Y change-14.4pp

10Y change+12.5pp

Harrow Health's gross margin was 61.2% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 6.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 18.1 percentage points.

Operating Margin

-50.0%

YoY-26.5pp

QoQ-67.5pp

5Y change-68.8pp

10Y change+35.7pp

Harrow Health's operating margin was -50.0% in Q1 2026, reflecting core business profitability. This is down 26.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 67.5 percentage points.

Net Margin

-62.4%

YoY-25.3pp

QoQ-69.9pp

5Y change-63.8pp

Harrow Health's net profit margin was -62.4% in Q1 2026, showing the share of revenue converted to profit. This is down 25.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 69.9 percentage points.

Return on Equity

-96.2%

YoY-64.7pp

QoQ-108.8pp

5Y change-96.9pp

10Y change-45.0pp

Harrow Health's ROE was -96.2% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 64.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 108.8 percentage points.

Capital Allocation

R&D Spending

$5.9M

YoY+94.8%

QoQ-49.7%

5Y CAGR+58.4%

10Y CAGR+62.5%

Harrow Health invested $5.9M in research and development in Q1 2026. This represents an increase of 94.8% from the same quarter a year earlier. Against the prior quarter it is down 49.7%.

Capital Expenditures

$194K

YoY+14.1%

QoQ-43.1%

5Y CAGR-1.7%

10Y CAGR-22.1%

Harrow Health invested $194K in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 14.1% from the same quarter a year earlier. Against the prior quarter it is down 43.1%.

Share Buybacks

Not reported for Q1 2026.

HROWL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

HROWL quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$268.7M	$272.3M+36.4%	$199.6M+53.3%	$130.2M+47.0%	$88.6M+22.2%	$72.5M+48.3%	$48.9M-4.5%	$51.2M+23.7%	$41.4M+54.5%	$26.8M+34.3%	$19.9M+105.2%	$9.7M+485.3%	$1.7M+16500.0%	$10K	N/A	N/A
Cost of Revenue	$69.6M	$67.9M+38.0%	$49.2M+24.2%	$39.6M+56.2%	$25.4M+39.4%	$18.2M+25.9%	$14.5M-13.6%	$16.7M+1.4%	$16.5M+22.3%	$13.5M	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$199.1M	$204.4M+35.9%	$150.4M+66.1%	$90.6M+43.3%	$63.2M+16.5%	$54.3M+57.7%	$34.4M0.0%	$34.4M+38.5%	$24.9M+87.3%	$13.3M+31.2%	$10.1M+124.2%	$4.5M+695.4%	$567K+5570.0%	$10K	N/A	N/A
R&D Expenses	$23.8M	$20.9M+71.2%	$12.2M+83.9%	$6.7M+118.1%	$3.0M-72.5%	$11.1M+359.3%	$2.4M+15.8%	$2.1M+152.5%	$825K+99.8%	$413K-44.1%	$739K+122.6%	$332K+40.1%	$237K-85.3%	$1.6M+24.5%	$1.3M+1064.0%	$112K
SG&A Expenses	$155.6M	$152.9M+18.5%	$129.1M+55.3%	$83.1M+42.7%	$58.2M+41.0%	$41.3M+32.2%	$31.2M-5.6%	$33.1M+13.1%	$29.2M+16.9%	$25.0M+42.4%	$17.6M+40.5%	$12.5M+54.6%	$8.1M+33.0%	$6.1M+104.0%	$3.0M	N/A
Operating Income	$19.7M	$30.5M+245.9%	$8.8M+1946.9%	$431K-77.5%	$1.9M+18.9%	$1.6M+319.2%	$385K+108.0%	-$4.8M+8.1%	-$5.2M+57.1%	-$12.2M+23.4%	-$15.9M-7.2%	-$14.8M-46.1%	-$10.1M-32.0%	-$7.7M-83.9%	-$4.2M	N/A
EBITDA	N/A	$32.4M+203.9%	$10.7M+444.2%	$2.0M-42.3%	$3.4M+2.0%	$3.3M+47.1%	$2.3M+179.2%	-$2.9M+20.8%	-$3.6M+66.5%	-$10.8M+27.4%	-$14.8M-1.8%	-$14.6M-44.1%	-$10.1M-31.6%	-$7.7M-83.9%	-$4.2M	N/A
Interest Expense	$23.1M	$24.2M+6.1%	$22.8M+6.9%	$21.3M+194.4%	$7.2M+33.3%	$5.4M+343.1%	-$2.2M+10.6%	-$2.5M+8.4%	-$2.7M+9.8%	-$3.0M-9.1%	-$2.8M-150.4%	-$1.1M-29257.9%	$4K	N/A	$25K-67.1%	$75K
Income Tax	N/A	$3.8M+2242.2%	$161K-77.0%	$701K+834.7%	$75K-43.6%	$133K+3225.0%	$4K-50.0%	$8K	N/A	-$935K-742.3%	-$111K-2320.0%	$5K+66.7%	$3K	N/A	$2K	$0
Net Income	-$15.0M	-$5.1M+70.6%	-$17.5M+28.4%	-$24.4M-73.3%	-$14.1M+21.8%	-$18.0M-436.4%	-$3.4M-2098.2%	$168K-98.9%	$14.6M+222.0%	-$12.0M+37.2%	-$19.1M-20.1%	-$15.9M-57.1%	-$10.1M-32.4%	-$7.6M-42.0%	-$5.4M	N/A
EPS (Basic)	N/A	-$0.14+71.4%	-$0.49+34.7%	-$0.75-47.1%	-$0.51+26.1%	-$0.69-430.8%	-$0.13-1400.0%	$0.01-98.5%	$0.67+211.7%	-$0.60	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	—	-$0.14+71.4%	-$0.49+34.7%	-$0.75-47.1%	-$0.51	N/A	-$0.13	$0.01-98.4%	$0.61+201.7%	-$0.60	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	37M+3.1%	36M+9.3%	33M+18.8%	27M	N/A	26M	26M+11.1%	24M+18.9%	20M	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$44.2M-7.6%	$89.1M+33.3%	$71.6M+45.4%	$63.7M+30.2%	$47.8M+38.3%	$66.8M+83.8%	$49.3M+43.8%	$48.9M+46.2%
Cost of Revenue	$17.2M+10.5%	$18.5M+30.7%	$17.7M+47.4%	$16.2M+29.4%	$15.5M+47.1%	$14.1M+25.1%	$12.0M+19.4%	$12.5M+25.4%
Gross Profit	$27.0M-16.3%	$70.6M+34.0%	$53.9M+44.8%	$47.5M+30.5%	$32.3M+34.4%	$52.7M+110.3%	$37.2M+53.9%	$36.4M+55.1%
R&D Expenses	$5.9M+94.8%	$11.7M+146.5%	$3.3M+46.2%	$2.9M-6.1%	$3.0M+40.8%	$4.8M+42.5%	$2.3M+60.0%	$3.1M+163.0%
SG&A Expenses	$43.2M+6.7%	$43.3M+24.5%	$35.9M+6.6%	$33.2M+4.5%	$40.5M+40.6%	$34.8M+32.7%	$33.6M+60.0%	$31.8M+59.4%
Operating Income	-$22.1M-96.6%	$15.6M+20.9%	$14.7M+1016.4%	$11.4M+645.7%	-$11.2M-62.1%	$12.9M+364.6%	$1.3M-24.3%	$1.5M-34.9%
EBITDA	-$21.6M-100.8%	$16.4M+19.8%	$15.1M+801.5%	$11.8M+542.1%	-$10.8M-65.7%	$13.7M+242.6%	$1.7M-63.8%	$1.8M-66.2%
Interest Expense	$5.5M-16.1%	$5.2M-18.7%	$6.0M+9.3%	$6.4M+17.1%	$6.5M+20.9%	$6.4M+24.4%	$5.5M-3.9%	$5.5M-4.1%
Income Tax	$25K	N/A	N/A	N/A	N/A	N/A	$20K-98.7%	$655K+4466.7%
Net Income	-$27.6M-55.2%	$6.6M-2.2%	$1.0M+124.2%	$5.0M+177.2%	-$17.8M-31.1%	$6.8M+174.1%	-$4.2M+3.9%	-$6.5M-53.1%
EPS (Basic)	-$0.74-48.0%	N/A	$0.03+125.0%	$0.14+177.8%	-$0.50-31.6%	N/A	-$0.12+7.7%	-$0.18-28.6%
EPS (Diluted)	-$0.74-48.0%	N/A	$0.03+125.0%	$0.13+172.2%	-$0.50-31.6%	N/A	-$0.12+7.7%	-$0.18-28.6%
Diluted Shares (Avg)	37M+3.9%	N/A	39M+8.9%	39M+9.1%	36M+1.0%	N/A	36M+4.2%	36M+16.9%

HROWL Balance Sheet

HROWL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$399.5M+2.7%	$389.0M+24.6%	$312.2M+98.4%	$157.4M+60.1%	$98.3M+71.1%	$57.5M-2.7%	$59.1M+19.5%	$49.5M+106.8%	$23.9M-12.2%	$27.2M+92.8%	$14.1M+38.0%	$10.2M-35.0%	$15.8M+47.2%	$10.7M+6551.5%	$161K
Current Assets	$211.8M+11.7%	$189.7M+36.0%	$139.5M+17.9%	$118.3M+94.9%	$60.7M+48.0%	$41.0M+13.7%	$36.0M+9.7%	$32.8M+273.0%	$8.8M-40.3%	$14.8M+151.2%	$5.9M-35.1%	$9.1M-42.4%	$15.7M+47.1%	$10.7M+6543.7%	$161K
Cash & Equivalents	$72.9M+54.4%	$47.2M-36.2%	$74.1M-23.0%	$96.3M+128.3%	$42.2M+928.2%	$4.1M-13.6%	$4.7M-30.5%	$6.8M+70.1%	$4.0M-54.6%	$8.9M+229.7%	$2.7M-67.3%	$8.2M-47.3%	$15.6M+55.2%	$10.0M+6766.2%	$146K
Inventory	$13.5M+26.4%	$10.7M-1.5%	$10.9M+66.1%	$6.5M+55.1%	$4.2M+6.4%	$4.0M+20.0%	$3.3M+80.0%	$1.8M-18.5%	$2.2M+22.2%	$1.8M+30.4%	$1.4M+278.6%	$373K	N/A	N/A	N/A
Accounts Receivable	$110.9M-4.7%	$116.4M+220.9%	$36.3M+480.3%	$6.2M+39.8%	$4.5M+67.9%	$2.7M+32.5%	$2.0M+5.0%	$1.9M+25.2%	$1.5M-47.7%	$2.9M+247.7%	$840K+937.0%	$81K	N/A	N/A	N/A
Goodwill	$332K0.0%	$332K0.0%	$332K0.0%	$332K0.0%	$332K0.0%	$332K0.0%	$332K-85.1%	$2.2M0.0%	$2.2M0.0%	$2.2M-9.7%	$2.5M+642.8%	$332K	N/A	N/A	N/A
Total Liabilities	$347.4M+8.7%	$319.7M+32.2%	$241.8M+85.8%	$130.1M+48.9%	$87.4M+185.2%	$30.6M-3.2%	$31.7M+28.2%	$24.7M+16.0%	$21.3M+2.3%	$20.8M+34.2%	$15.5M+641.7%	$2.1M+221.5%	$651K-8.3%	$710K-61.9%	$1.9M
Current Liabilities	$96.3M+5.4%	$91.3M+85.1%	$49.3M+164.8%	$18.6M+91.6%	$9.7M-10.0%	$10.8M-12.1%	$12.3M+3.2%	$11.9M+106.1%	$5.8M-41.7%	$9.9M+84.3%	$5.4M+244.5%	$1.6M+139.8%	$651K-8.3%	$710K-61.9%	$1.9M
Non-Current Liabilities	$251.1M+10.0%	$228.3M+18.7%	$192.4M+72.6%	$111.5M+43.6%	$77.7M+291.4%	$19.8M+2.4%	$19.4M+51.4%	$12.8M-17.6%	$15.5M+42.3%	$10.9M+7.6%	$10.1M+1806.4%	$532K	$0	$0	$0
Long-Term Debt	$250.0M-4.8%	$262.7M+6.5%	$246.7M	N/A	N/A	$20.0M	N/A	$23.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$52.4M-24.7%	$69.7M-1.6%	$70.8M+156.4%	$27.6M+144.5%	$11.3M-58.5%	$27.2M-1.9%	$27.7M+12.0%	$24.8M+846.5%	$2.6M-59.3%	$6.4M+564.4%	-$1.4M-117.0%	$8.2M-46.1%	$15.1M+51.2%	$10.0M+688.0%	-$1.7M
Retained Earnings	-$156.5M-3.4%	-$151.4M-13.1%	-$133.9M-22.3%	-$109.5M-14.8%	-$95.4M-23.3%	-$77.4M-4.5%	-$74.0M+0.2%	-$74.2M+16.5%	-$88.8M-15.6%	-$76.9M-33.0%	-$57.8M-38.0%	-$41.9M-31.9%	-$31.7M	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$419.5M+15.2%	$399.5M+2.7%	$363.1M+3.3%	$345.0M+12.5%	$364.2M+23.2%	$389.0M+24.6%	$351.5M+22.9%	$306.6M+36.9%
Current Assets	$226.4M+33.5%	$211.8M+11.7%	$177.6M+20.8%	$154.9M+11.1%	$169.5M+35.1%	$189.7M+36.0%	$147.1M+33.4%	$139.4M+131.2%
Cash & Equivalents	$94.6M+41.8%	$72.9M+54.4%	$74.3M+2.3%	$53.0M-25.4%	$66.7M-2.6%	$47.2M-36.2%	$72.6M+10.7%	$71.0M+211.9%
Inventory	$16.5M+53.9%	$13.5M+26.4%	$12.8M+26.4%	$11.6M+22.6%	$10.7M-0.9%	$10.7M-1.5%	$10.2M+13.8%	$9.4M+10.2%
Accounts Receivable	$101.3M+31.4%	$110.9M-4.7%	$77.6M+44.4%	$78.8M+51.6%	$77.1M+166.1%	$116.4M+220.9%	$53.7M+191.0%	$52.0M+184.7%
Goodwill	$332K0.0%	$332K0.0%	$332K0.0%	$332K0.0%	$332K0.0%	$332K0.0%	$332K0.0%	$332K0.0%
Total Liabilities	$391.2M+27.0%	$347.4M+8.7%	$316.4M+7.7%	$295.7M+19.0%	$308.1M+30.9%	$319.7M+32.2%	$293.9M+39.5%	$248.5M+23.0%
Current Liabilities	$91.4M-51.1%	$96.3M+5.4%	$65.4M-31.2%	$248.9M+364.8%	$187.0M+347.8%	$91.3M+85.1%	$95.0M+399.3%	$53.6M+132.7%
Non-Current Liabilities	$299.8M+147.6%	$251.1M+10.0%	$251.0M+26.2%	$46.9M-76.0%	$121.1M-37.5%	$228.3M+18.7%	$198.9M+3.8%	$194.9M+8.9%
Long-Term Debt	$300.0M+16.8%	$250.0M-4.8%	N/A	$250.6M+6.1%	$256.9M+5.5%	$262.7M+6.5%	$230.7M	$236.3M
Total Equity	$28.7M-49.1%	$52.4M-24.7%	$47.0M-18.9%	$49.7M-15.2%	$56.5M-6.8%	$69.7M-1.6%	$58.0M-23.5%	$58.5M+161.2%
Retained Earnings	-$184.1M-8.8%	-$156.5M-3.4%	-$163.2M-3.2%	-$164.2M-6.6%	-$169.2M-14.7%	-$151.4M-13.1%	-$158.2M-26.8%	-$153.9M-27.9%

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.

HROWL Cash Flow Statement

HROWL quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$15.2M	$43.9M+297.6%	-$22.2M-678.2%	$3.8M+125.2%	$1.7M-66.5%	$5.1M+562.0%	-$1.1M-215.8%	$950K+38.3%	$687K+107.8%	-$8.8M+21.5%	-$11.2M-0.6%	-$11.1M-57.9%	-$7.1M-59.0%	-$4.4M-133.5%	-$1.9M-552.9%	-$291K
Depreciation & Amortization	N/A	$1.9M+3.5%	$1.9M+20.9%	$1.5M+3.6%	$1.5M-14.0%	$1.7M-8.7%	$1.9M-2.9%	$1.9M+20.4%	$1.6M+14.8%	$1.4M+32.8%	$1.1M+313.7%	$255K+589.2%	$37K+553.8%	$6K+92.2%	$3K+771.0%	$338
Stock-Based Compensation	N/A	$12.5M-29.0%	$17.6M+12.3%	$15.7M+96.8%	$8.0M+38.8%	$5.7M+107.0%	$2.8M+55.1%	$1.8M-28.0%	$2.5M-15.5%	$2.9M-19.9%	$3.7M+6.7%	$3.4M+31.6%	$2.6M-16.6%	$3.1M+45.4%	$2.2M+1115.5%	$177K
Capital Expenditures	$911K	$887K-44.4%	$1.6M+9.2%	$1.5M-43.8%	$2.6M+45.4%	$1.8M+107.2%	$862K-41.3%	$1.5M-17.0%	$1.8M+129.0%	$772K-88.8%	$6.9M+592.2%	-$995K+471.8%	$174K+769.9%	$20K+29.1%	$15K	$0
Free Cash Flow	$14.3M	$43.0M+280.6%	-$23.8M-1099.9%	$2.4M+366.8%	-$892K-127.1%	$3.3M+268.0%	-$2.0M-278.8%	-$518K+52.1%	-$1.1M+88.7%	-$9.6M+47.1%	-$18.1M-49.1%	-$12.1M-67.9%	-$7.2M-62.2%	-$4.5M-132.7%	-$1.9M-558.2%	-$291K
Investing Cash Flow	-$23.5M	-$5.5M+83.5%	-$33.2M+78.3%	-$152.6M-8652.3%	-$1.7M+90.7%	-$18.7M-1804.8%	-$981K+46.5%	-$1.8M+16.6%	-$2.2M-128.8%	-$961K+86.8%	-$7.3M-42.1%	-$5.1M-463.7%	-$910K-1199.9%	-$70K-351.9%	-$15K	$0
Financing Cash Flow	$36.2M	-$12.7M-144.6%	$28.5M-77.5%	$126.5M+133.7%	$54.1M+5.2%	$51.5M+3491.8%	$1.4M+242.4%	-$1.0M-124.4%	$4.1M-16.2%	$4.9M-80.0%	$24.7M+129.6%	$10.7M+1694.2%	$599K-94.0%	$10.1M-14.8%	$11.8M+7994.0%	$146K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$13K+6706.3%	$191	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	-$9.0M-145.7%	$8.4M+147.3%	$16.6M+462.1%	-$803K+70.8%	$19.7M+525.0%	-$17.8M-304.5%	$3.0M+344.3%	-$2.7M-160.1%
Depreciation & Amortization	$455K-2.2%	$777K+1.4%	$326K-7.1%	$347K+15.3%	$465K+7.6%	$766K+116.3%	$351K-87.8%	$301K-90.2%
Stock-Based Compensation	$3.8M-15.8%	N/A	$3.3M-25.4%	$875K-79.5%	$4.6M+9.3%	N/A	$4.4M-2.0%	$4.3M-21.1%
Capital Expenditures	$194K+14.1%	$341K-38.6%	$210K-65.2%	$166K-51.7%	$170K+84.8%	$555K+186.1%	$604K+16.2%	$344K+37.6%
Free Cash Flow	-$9.2M-147.1%	$8.1M+144.0%	$16.4M+597.8%	-$969K+68.6%	$19.5M+513.1%	-$18.3M-315.6%	$2.3M+235.8%	-$3.1M-171.6%
Investing Cash Flow	-$18.2M-8486.3%	-$4.7M+87.4%	-$225K+62.3%	-$293K-105.7%	-$212K-92.7%	-$37.6M-18402.5%	-$597K+97.0%	$5.1M+508.6%
Financing Cash Flow	$48.9M+212560.9%	-$5.0M-116.8%	$5.0M+788.5%	-$12.7M-17452.1%	$23K+102.8%	$30.0M+166683.3%	-$721K-101.1%	$73K-61.4%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

HROWL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

HROWL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	75.0%-0.3pp	75.3%+5.8pp	69.5%-1.8pp	71.4%-3.5pp	74.9%+4.5pp	70.4%+3.1pp	67.3%+7.2pp	60.1%+10.5pp	49.6%-1.1pp	50.7%+4.3pp	46.4%+12.3pp	34.2%-65.8pp	100.0%	N/A	N/A
Operating Margin	11.2%+6.8pp	4.4%+4.1pp	0.3%-1.8pp	2.2%-0.1pp	2.2%+1.4pp	0.8%+10.2pp	-9.4%+3.2pp	-12.6%+32.8pp	-45.4%+34.2pp	-79.6%	-152.6%	-611.3%	-76868.8%	N/A	N/A
Net Margin	-1.9%+6.9pp	-8.8%+10.0pp	-18.8%-2.8pp	-15.9%+8.9pp	-24.9%-18.0pp	-6.9%-7.2pp	0.3%-35.0pp	35.4%+80.1pp	-44.8%+50.9pp	-95.7%	-163.6%	-609.5%	-76431.2%	N/A	N/A
Return on Equity	-9.8%+15.3pp	-25.1%+9.4pp	-34.5%+16.5pp	-51.0%+108.5pp	-159.5%-147.2pp	-12.3%-13.0pp	0.6%-58.5pp	59.1%+517.4pp	-458.3%-161.6pp	-296.8%	N/A	-124.2%-73.6pp	-50.6%+3.3pp	-53.8%	N/A
Return on Assets	-1.3%+3.2pp	-4.5%+3.3pp	-7.8%+1.1pp	-8.9%+9.4pp	-18.3%-12.5pp	-5.8%-6.1pp	0.3%-29.3pp	29.6%+79.7pp	-50.1%+19.9pp	-70.0%+42.5pp	-112.5%-13.7pp	-98.8%-50.3pp	-48.5%+1.8pp	-50.3%	N/A
Current Ratio	2.20+0.1x	2.08-0.8x	2.83-3.5x	6.35+0.1x	6.24+2.4x	3.79+0.9x	2.93+0.2x	2.76+1.2x	1.530.0x	1.49+0.4x	1.09-4.7x	5.81-18.4x	24.18+9.1x	15.07+15.0x	0.09
Debt-to-Equity	4.77+1.0x	3.77+0.3x	3.49-1.2x	4.72-3.0x	7.74+7.0x	0.74-0.4x	1.14+0.2x	0.95-7.2x	8.15+4.9x	3.24	N/A	0.26+0.2x	0.040.0x	0.07	N/A
Asset Turnover	0.68+0.2x	0.51+0.1x	0.42-0.1x	0.56-0.2x	0.74-0.1x	0.850.0x	0.870.0x	0.84-0.3x	1.12+0.4x	0.730.0x	0.69+0.5x	0.16+0.2x	0.00	N/A	N/A
FCF Margin	15.8%+27.7pp	-11.9%-13.8pp	1.8%+2.8pp	-1.0%-5.6pp	4.5%+8.6pp	-4.0%-3.0pp	-1.0%+1.6pp	-2.6%+33.1pp	-35.8%+55.0pp	-90.8%	-124.9%	-435.6%	-44589.5%	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Gross Margin	61.2%-6.4pp	79.3%+0.4pp	75.3%-0.3pp	74.5%+0.2pp	67.5%-1.9pp	78.8%+9.9pp	75.6%+5.0pp	74.4%+4.3pp
Operating Margin	-50.0%-26.5pp	17.5%-1.8pp	20.6%+17.9pp	17.9%+14.8pp	-23.5%-3.5pp	19.3%+32.7pp	2.7%-2.4pp	3.1%-3.9pp
Net Margin	-62.4%-25.3pp	7.4%-2.7pp	1.4%+10.0pp	7.8%+21.1pp	-37.2%+2.1pp	10.1%+35.3pp	-8.6%+4.2pp	-13.2%-0.6pp
Return on Equity	-96.2%-64.7pp	12.6%+2.9pp	2.2%+9.4pp	10.1%+21.1pp	-31.5%-9.1pp	9.7%+22.7pp	-7.3%-1.5pp	-11.1%+7.8pp
Return on Assets	-6.6%-1.7pp	1.7%-0.1pp	0.3%+1.5pp	1.5%+3.6pp	-4.9%-0.3pp	1.7%+4.7pp	-1.2%+0.3pp	-2.1%-0.2pp
Current Ratio	2.48+1.6x	2.20+0.1x	2.72+1.2x	0.62-2.0x	0.91-2.1x	2.08-0.8x	1.55-4.2x	2.600.0x
Debt-to-Equity	10.45+5.9x	4.77+1.0x	6.73+2.8x	5.05+1.0x	4.55+0.5x	3.77+0.3x	3.98+1.2x	4.04-5.0x
Asset Turnover	0.110.0x	0.22+0.1x	0.20+0.1x	0.180.0x	0.130.0x	0.17+0.1x	0.140.0x	0.160.0x
FCF Margin	-20.8%-61.5pp	9.1%+36.5pp	22.9%+18.1pp	-1.5%+4.8pp	40.8%+54.4pp	-27.4%-50.8pp	4.8%+9.8pp	-6.3%-19.2pp

Where Harrow Health Ranks

Frequently Asked Questions

What is Harrow Health's annual revenue?

Harrow Health (HROWL) reported $272.3M in total revenue for fiscal year 2025. This represents a 36.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Harrow Health's revenue growing?

Harrow Health (HROWL) revenue grew by 36.4% year-over-year, from $199.6M to $272.3M in fiscal year 2025.

Is Harrow Health profitable?

No, Harrow Health (HROWL) reported a net income of -$5.1M in fiscal year 2025, with a net profit margin of -1.9%.

What is Harrow Health's EBITDA?

Harrow Health (HROWL) had EBITDA of $32.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Harrow Health have?

As of fiscal year 2025, Harrow Health (HROWL) had $72.9M in cash and equivalents against $250.0M in long-term debt.

What is Harrow Health's gross margin?

Harrow Health (HROWL) had a gross margin of 75.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Harrow Health's operating margin?

Harrow Health (HROWL) had an operating margin of 11.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Harrow Health's net profit margin?

Harrow Health (HROWL) had a net profit margin of -1.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Harrow Health's return on equity (ROE)?

Harrow Health (HROWL) has a return on equity of -9.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Harrow Health's free cash flow?

Harrow Health (HROWL) generated $43.0M in free cash flow during fiscal year 2025. This represents a 280.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Harrow Health's operating cash flow?

Harrow Health (HROWL) generated $43.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Harrow Health's total assets?

Harrow Health (HROWL) had $399.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Harrow Health's capital expenditures?

Harrow Health (HROWL) invested $887K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Harrow Health spend on research and development?

Harrow Health (HROWL) invested $20.9M in research and development during fiscal year 2025.

How many shares does Harrow Health have outstanding?

Harrow Health (HROWL) had 37M shares outstanding as of fiscal year 2025.

What is Harrow Health's current ratio?

Harrow Health (HROWL) had a current ratio of 2.20 as of fiscal year 2025, which is generally considered healthy.

What is Harrow Health's debt-to-equity ratio?

Harrow Health (HROWL) had a debt-to-equity ratio of 4.77 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Harrow Health's return on assets (ROA)?

Harrow Health (HROWL) had a return on assets of -1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Harrow Health's Piotroski F-Score?

Harrow Health (HROWL) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Harrow Health's earnings high quality?

Harrow Health (HROWL) reported a net loss of $5.1M while generating $43.9M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Harrow Health cover its interest payments?

Harrow Health (HROWL) has an interest coverage ratio of 1.26x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.