Harrow Inc (NAS:HROW)

Q2 2026 Harrow Inc Earnings Call Transcript

Aug 11, 2026 / 12:00 PM GMT

Release Date Price: $39.42 (-3.14%)

Transcript 10-Q8-K

Key Points

Positve

Harrow Inc (HROW) reported Q2 2026 revenue of $70.7 million, up 11% year-over-year and approximately 60% sequentially, with first-half revenue reaching about $115 million.
IHISO achieved record quarterly unit demand of 65,477 units, up 44% sequentially and 34% year-over-year, despite the loss of pass-through reimbursement, and saw record new account growth with a 32% increase in total ordering accounts.
Vevi (VIVI) delivered record quarterly revenue of $29.4 million, up nearly 58% year-over-year, with prescriptions growing 21% sequentially and prescriber base expanding 15%, while improving net revenue realization through revised business rules.
Triessence reached another quarterly demand record of 14,529 units, up 162% year-over-year, with 54% of unit demand now coming from ocular surgery, supported by a tripled surgical commercial organization.
The company reiterated full-year 2026 guidance of $350-$365 million in revenue and $80-$100 million in adjusted EBITDA, citing multiple growth drivers and improved economics entering the second half.
The pending Tervaya acquisition is expected to be financially accretive, with projected revenue contribution of more than $30 million in 2027, and offers operational synergies with the existing dry eye franchise.

Negative

First-half 2026 revenue of approximately $115 million was lighter than expected, primarily due to the Vevi net revenue impact and IHISO channel inventory normalization.
IHISO reported revenue of $15.6 million lagged underlying demand as distributors sold through previously purchased inventory, with the loss of pass-through reimbursement in cataract surgery impacting the surgical market.
Adjusted EBITDA was negative $1.2 million in Q2 2026, reflecting increased SG&A expenses from commercial investments.
The company faces a substantial second-half revenue ramp, with guidance implying $235-$250 million in revenue for the second half, which requires significant execution across multiple initiatives.
The Tervaya transaction is expected to add approximately $20 million in annualized SG&A expenses once fully integrated, and the company expects only a modest revenue contribution from the product in 2026 due to the anticipated timing of the close.
The company's reliance on third-party data may undercount Vevi prescriptions, and the impact of new business rules on prescription growth remains uncertain, though early results have been positive.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HROW.OQ - Harrow, Inc.
Q2 2026 Harrow Inc Earnings Call
Aug 11, 2026 / 12:00PM GMT

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Presentation
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Operator [1]
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Good morning, and welcome to Harrow's second-quarter 2026 earnings conference call. My name is Michelle, and I will be the operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. As a reminder, this conference is being recorded. I would now like to turn the conference over to Mike Viega. Vice President of Investor Relations and Communications for Harrow. Please go ahead.

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Unidentified_2 [2]
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Thank you, operator. Good morning and welcome to Harrow's second quarter 2026 earnings conference call. My

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