Harrow Q3 revenue slightly beats estimates on branded product growth; cuts EBITDA outlook
HROW•Harrow’s third-quarter revenue rose 39% year over year to $99.3 million, slightly above the $98.5 million estimate, while adjusted EBITDA declined. The company reaffirmed 2026 revenue guidance of $350 million to $365 million and lowered its adjusted EBITDA outlook to more than $40 million from $80 million to $100 million.
1. Revenue and products
Harrow reported third-quarter revenue of $99.3 million, up 39% year over year and slightly above analyst expectations. Branded product revenue rose 62% to $83.5 million, led by record VEVYE and TRIESENCE revenue and higher IHEEZO sales. IHEEZO unit demand increased 21% year over year.
2. Updated outlook
The company reaffirmed its 2026 revenue guidance of $350 million to $365 million, but lowered its full-year adjusted EBITDA outlook to more than $40 million from its prior range of $80 million to $100 million. Harrow expects fourth-quarter results to benefit from VEVYE and TRIESENCE growth and TYRVAYA’s initial revenue contribution.
