The following is a summary of the Harrow, Inc. (HROW) Q1 2024 Earnings Call Transcript:
Financial Performance:
Harrow Inc. reported a rise of 33% in revenues for Q1 2024 compared to Q1 2023.
Increased its covered lives from 40+ million to 150+ million within two months.
Core gross margins, after excluding non-cash expense of acquisition NDAs, are projected to rise from mid-70s to low-80s by the end of 2024.
The company holds $76 million in cash and cash equivalents.
Managing EBITDA to stay under a leverage ratio of five times, and plan to gradually increase sales, marketing, and G&A expenditure.
Business Progress:
Added Greg DiPasquale to its management team focusing on sales, marketing, and sales operations activities for branded ophthalmic products.
Launched two products, VEVYE and IHEEZO, which have been positively received in the market.
PPQ batch of TRIESENCE manufactured and passed preliminary release parameters.
Progressing with Anterior Segment products expecting good returns.
Continues to sign agreements with large multi-practice organizations to improve order draw from various accounts.
Aims to become a leading player in the North American ophthalmic pharmaceuticals industry, as per their five-year strategic plan.
More details: Harrow IR
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