Q1 2026 Harrow Inc Earnings Call Transcript
Key Points
- Harrow Inc (HROW) reported strong demand trends for its key growth driver products, including VEVYE, IHEEZO, and TRIESENCE, which are at or above internal expectations.
- The company successfully doubled its sales force, hiring over 90 new sales professionals, which is expected to further accelerate demand and revenue growth.
- VEVYE has surpassed Xiidra in total prescriptions and is gaining market share, with expectations for continued positive coverage changes over the next 12 to 18 months.
- Harrow Inc (HROW) is expanding its Access Plus cash-pay business, increasing safety stock, and positioning the team for growth to deliver essential, affordable products.
- The company reaffirmed its 2026 revenue guidance of $350 million to $365 million, with expectations for a strong second half driven by several catalysts, including new product launches and improved pricing.
- Harrow Inc (HROW) experienced an $8 million revenue reduction in Q1 due to a gross to net modeling issue related to VEVYE's coverage rollout, impacting net revenue per unit.
- The company reported a negative adjusted EBITDA of $12.7 million for the first quarter of 2026.
- IHEEZO's revenue contribution was minimal in Q1 due to channel inventory absorption and is expected to remain below prior year levels in Q2.
- The ASC setting for IHEEZO is expected to go to zero, requiring replacement with in-office use cases by the end of the year.
- The company faced challenges with high-deductible patients impacting net pricing, requiring mid-April business rule adjustments to protect future net revenue.
Good morning and welcome to Harrow's first-quarter 2026 earnings conference call. My name is Michelle and I will be your operator for today's call. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the call over to to Mike Biega, Vice President of Investor Relations and Communications for Harrow. Please go ahead.
Thank you, operator. Good morning and welcome to Harrow's first-quarter 2026 earnings conference call. My name is Mike Biega, Vice President of Investor Relations and Communications, and I'm excited to be introducing today's call.
The company's remarks may include forward-looking statements within the meaning of federal securities laws. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond Harrow's control, including risks and uncertainties described from time to time in its SEC filings such as the risk and uncertainties related to the company's ability to
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