Harrow, Inc. announced its financial results for the second quarter ended June 30, 2025, reporting total revenues of $63.7 million. This represents a robust 30% increase over the prior-year period and a 33% sequential increase from Q1 2025. The company also achieved GAAP net income of $5.0 million and Adjusted EBITDA of $17.0 million, demonstrating increasing operating leverage.
The Branded segment was the primary driver of growth, generating $42.27 million in revenue, a 54.5% year-over-year increase, with a strong gross margin of 79.3%. VEVYE revenue in Q2 2025 was $18.64 million, and IHEEZO revenue saw a remarkable 251% sequential increase to $18.34 million. Other branded products also saw a substantial 447% sequential increase to $5.21 million.
Mark L. Baum, CEO, stated that the second quarter provided a strong financial and operational foundation for the back half of the year. Harrow reaffirmed its 2025 directional revenue guidance of 'more than $280 million,' with VEVYE projected to exceed $100 million in annual revenue for 2025 and IHEEZO expected to surpass $50 million in revenue for 2025.
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