HROW at a glance
HARROW, INC. (HROW, SEC CIK 1360214) filed its latest 10-K annual report on March 2, 2026, a 10-Q quarterly report on August 10, 2026, an 8-K current report on October 5, 2026 and Form 4 insider filings as recently as August 17, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), HARROW, INC. (HROW) reported revenue of $272.3 million (up 36.4% from FY2024) and a net loss of $5.1 million. Diluted EPS was -$0.14.
- As of June 30, 2026, 27 institutional investment managers tracked by SignalX reported holding HARROW, INC. (HROW) shares worth $323.9 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Shojaei Amir on August 14, 2026 of 11,250 shares at $40.00 per share.
- In the last 90 days, HROW insiders reported 0 open-market purchases ($0) and 1 open-market sale ($450K) on Form 4, a net sale of $450K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $272.3M
- +36.4% vs prior year
- Insiders · 90 days
- 0 buys · 1 sell
- Net −$450K
- 13F holders
- 27 funds
- $323.9M · +1 vs prior quarter
- Latest 8-K
- Aug 10, 2026
- Item 7.01 · Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: U.S. ophthalmic disease management with FDA-approved branded pharmaceuticals and ophthalmology-focused pharmaceutical compounding
- New product emphasis: Commercial launches planned for BYOOVIZ and BYQLOVI in mid-2026; OPUVIZ expected mid-2027; MELT-300 sedation tablet with FDA NDA filing expected H1 2027
- Strategic shift: Full acquisition of Melt Pharmaceuticals in Nov 2025, integrating MELT-300 non-IV sedation program into Harrow's pipeline and consolidating R&D
- Quantitative highlight: Ownership increased MELT to 100% via $4.3M upfront and contingent milestone payments; ImprimisRx serves 10,000+ U.S. eyecare prescribers
- Noteworthy fact: MELT-300 poised as first FDA-approved non-opioid, sublingual sedation therapy targeting broad procedural sedation beyond ophthalmology
Risk Factors
- Legal risk: Ocular Science lawsuit with $11.25M judgment after punitive damages reduction and pending appeal filed October 9, 2025
- Macroeconomic risk: Sole U.S. revenue and asset concentration with 90% accounts receivable from three customers as of December 31, 2025
- Operational risk: Contract manufacturing commitments of $10.7M for 2026 with minimum annual order requirements
- Competitive risk: ImprimisRx segment faces revenue decline from $83.5M in 2024 to $76.5M in 2025 amid competitive pressures
- Financial risk: Customer concentration with two customers accounting for over 10% of Branded revenues in 2024 and 2025 affecting revenue stability
Management Discussion & Analysis
- Revenue $272.3M up 36% YoY from $199.6M; IHEEZO sales $81.3M (+65% YoY), VEVYE sales $88.7M (+216% YoY), Other branded sales down $12.5M
- Gross margin branded 81.0% vs 81.3% prior year, ImprimisRx margin 59.9% down from 67.0%, net loss narrowed to $5.1M from $17.5M
- Best performing segment: Branded products revenue $195.8M up $79.6M; Worst: ImprimisRx revenue $76.5M down $7.0M
- Operating cash flow positive $43.9M vs negative $22.2M prior year; Capex and acquisition spend $5.5M; Debt refinancing with $242.7M 8.625% notes issued, prior debt paid off
- Management expanding commercial sales teams in 2026; pipeline growth supported by Melt acquisition, new product launches BYOOVIZ and BYQLOVI mid-2026; key risks include regulatory and reimbursement challenges
AI summary of the HROW 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Risk Factors
- Reimbursement risk: amended and restated risk factor highlights payor step edits, prior authorization, formulary restrictions, and rate reductions
- Regulatory risk: proposed GLOBE and GUARD models could impose international-benchmark rebates on ophthalmology products
- Compliance risk: unsupported or overstated rebate claims may require legal analysis and adversely affect revenues and cash flows
- Operational risk: gross-to-net estimates depend on channel inventory, utilization, payor mix, and claims activity
- Pricing risk: limited control over non-U.S. prices may increase exposure to international-reference pricing policies
AI summary of the HROW 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- Exhibit 99.3 contains Harrow’s investor presentation for earnings calls, conferences, and management meetings
- Presentation is furnished under Regulation FD, but not treated as filed under Exchange Act Section 18
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 results covered quarter ended June 30, 2026
- August 10, 2026 press release and stockholder letter provide financial results and corporate developments
Item EX-99.1: Item EX-99.1
- Q2 revenue $70.7M, up 11% YoY, but gross margin fell to 71% from 75%
- Adjusted EBITDA declined to $(1.2)M from $17.0M; net loss widened to $17.3M from $5.0M
AI summaries of HROW 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for HROW
Don't miss the next HROW filing
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- Fund moves. Which tracked funds opened, added or cut HROW, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Shojaei Amir | M | Aug 14, 2026 | 11,250 | $35.96 |
| Shojaei Amir | M | Aug 14, 2026 | 11,250 | $35.96 |
| Shojaei Amir | Sell | Aug 14, 2026 | 11,250 | $40.00 |
| Graves Adrienne L | A | Jun 18, 2026 | 5,248 | - |
| SILVERNAIL LAUREN P | A | Jun 18, 2026 | 5,248 | - |
| Sternberg Perry J. | A | Jun 18, 2026 | 5,248 | - |
| Graves Adrienne L | Buy | May 18, 2026 | 1,000 | $31.07 |
| SILVERNAIL LAUREN P | Buy | May 18, 2026 | 1,000 | $31.00 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $199.6M | $272.3M |
| Gross Profit | - | $150.4M | $204.4M |
| Operating Income | - | $8.8M | $30.5M |
| Net Income | - | -$17.5M | -$5.1M |
| Gross Margin | - | 75.3% | 75.1% |
| Op. Margin | - | 4.4% | 11.2% |
| Net Margin | - | -8.8% | -1.9% |
| Balance Sheet | |||
| Total Assets | $312.2M | $389.0M | $399.5M |
| Equity | $70.8M | $69.7M | $52.4M |
| ROE | - | -25.1% | -9.8% |
| Per Share | |||
| EPS | - | $-0.49 | $-0.14 |
| Cash Flow | |||
| Operating CF | - | -$22.2M | $43.9M |
| CapEx | - | $1.6M | $887K |
Source: XBRL data in HARROW, INC. (HROW)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate HROW share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 27 | $323.9M |
| Q1 2026 | 26 | $252.2M |
| Q4 2025 | 25 | $383.7M |
| Q3 2025 | 25 | $365.8M |
| Q2 2025 | 24 | $247.9M |
| Q1 2025 | 19 | $136.5M |
| Q4 2024 | 15 | $163.5M |
| Q3 2024 | 12 | $135.9M |
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- Millennium Management+84.2K
- Two Sigma Investments+22.5K
- Prudential Financial+5.4K
- First Bancorp, Inc /ME/+1.5K
- Franklin Resources−20.6K
- AQR Capital Management−6.5K
- Fifth Third Bancorp−476
Source: 13F-HR filings on SEC EDGAR (aggregated from 173 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
HROW filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Oct 5, 2026 | - | - | - |
| 8-K | Sep 4, 2026 | - | - | - |
| 4 | Aug 17, 2026 | - | - | - |
| 8-K | Aug 10, 2026 | - | Analysis | - |
| 10-Q | Aug 10, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 6, 2026 | - | Analysis | - |
| 4 | Jun 22, 2026 | - | - | - |
| 8-K | Jun 22, 2026 | - | Analysis | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 8-K | Jun 3, 2026 | - | Analysis | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 18, 2026 | - | - | |
| 8-K | May 11, 2026 | - | Analysis | |
| 10-Q | May 11, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | Mar 27, 2026 | - | - | - |
| 8-K | Mar 24, 2026 | - | - | - |
| 8-K | Mar 24, 2026 | - | - | - |
| SC 13G | Mar 11, 2026 | - | - | |
| 8-K | Mar 10, 2026 | - | Analysis | - |
| 4 | Mar 5, 2026 | - | - | - |
| 4 | Mar 3, 2026 | - | - | - |
| 8-K | Mar 2, 2026 | - | Analysis | - |
| 10-K | Mar 2, 2026 | Dec 31, 2025 | Analysis |
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HROW SEC filings: frequently asked questions
Are HROW insiders buying or selling?
In the last 90 days, HARROW, INC. (HROW) officers, directors and 10% owners reported no open-market purchases and 1 open-market sale worth $450,000 by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold HROW stock?
As of June 30, 2026, the largest HARROW, INC. (HROW) holders among the 13F filers tracked by SignalX were BlackRock ($116.4 million), Vanguard Capital Management LLC ($60.2 million), State Street Corp ($39.9 million), Dimensional Fund Advisors ($28.3 million), Citadel Advisors LLC ($15.3 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was HROW's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), HARROW, INC. (HROW) reported revenue of $272.3 million (up 36.4% from FY2024) and a net loss of $5.1 million. Diluted EPS was -$0.14. The figures come from the XBRL data in the 10-K.
What are the main risks in HROW's latest 10-K?
In the 10-K filed March 2, 2026, HARROW, INC. (HROW) flagged: Legal risk: Ocular Science lawsuit with $11.25M judgment after punitive damages reduction and pending appeal filed October 9, 2025. Macroeconomic risk: Sole U.S. revenue and asset concentration with 90% accounts receivable from three customers as of December 31, 2025. (AI summary of the Risk Factors section.)
What did HROW report in its latest 8-K?
HARROW, INC. (HROW) filed an 8-K on August 10, 2026 reporting Item 7.01 (Regulation FD Disclosure) and Item 2.02 (Results of Operations and Financial Condition). Exhibit 99.3 contains Harrow’s investor presentation for earnings calls, conferences, and management meetings.
What are the latest HROW SEC filings?
HARROW, INC. (HROW) filed its latest 10-K annual report on March 2, 2026, a 10-Q quarterly report on August 10, 2026, an 8-K current report on October 5, 2026 and a Form 4 insider filing on August 17, 2026.
What is HROW's SEC CIK number?
HARROW, INC. (HROW)'s SEC Central Index Key (CIK) is 1360214. EDGAR lists every HROW filing under that number.
Ask anything about HROW
The research agent reads HROW's filings, financials, insider trades and 13F holders, then answers with sources.