Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $71.6 million, a 45% increase year-over-year and a 12% sequential increase from Q2 2025 [12][13] - Adjusted EBITDA for Q3 was $22.7 million, with GAAP-based net income of $1 million [14] - For the first nine months of 2025, total revenue reached $183.2 million, with an updated full-year revenue outlook of $270-$280 million [13][17] Business Line Data and Key Metrics Changes - VEVYE generated approximately $22.6 million in revenue during Q3, a 22% increase from Q2 2025, and is expected to finish the year strong [14][15] - IHEEZO revenue for Q3 was $21.9 million, up 20% from Q2, with strong demand expected to continue into Q4 [15][16] - TRIESENCE and the specialty portfolio generated $6.9 million in revenue, showing a 33% sequential increase, with new strategies in place to reignite growth [16][30] Market Data and Key Metrics Changes - VEVYE captured 10.5% of the total dry eye market by the end of Q3, up 2.7 share points from the prior quarter [22] - IHEEZO's unit demand was up 47% year-over-year, indicating strong market resonance [25] - TRIESENCE is gaining traction in the retina market, with a 67% sequential increase in unit demand [28] Company Strategy and Development Direction - The company aims to become a leading U.S. ophthalmic company, with plans for four new product launches over the next two years [6][11] - A focus on building a scalable commercial infrastructure to support multiple product launches without heavy additional investment [6][11] - The acquisition of Melt Pharmaceuticals and the expansion of the Access for All program are key strategic moves to enhance growth [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall trajectory of the business, despite some areas underperforming due to seasonal factors [7] - The company anticipates a strong finish to 2025, with expectations for continued growth in 2026 driven by improved coverage and commercial investments [18][24] - Management is actively working to resolve licensing disputes in California, which could impact future revenue [11] Other Important Information - The company is preparing for the launch of new products, including BioViz, OpioViz, Biclovi, and Melt 300, which are expected to drive future growth [11][30] - The ImprimisRx business remains stable, generating approximately $20.1 million in revenue, but may face challenges due to ongoing regulatory disputes [17] Q&A Session Summary Question: Why was VEVYE prescription data not available this quarter? - Management decided to withdraw from certain reporting services to ensure accuracy and maintain competitive positioning [34][35] Question: Can you discuss the operating leverage achieved? - The company is seeing operating leverage from new revenue growth, with expectations for moderate increases in operating expenses as investments are made in commercial infrastructure [36][37] Question: What is the expected impact of VEVYE's coverage win on ASP? - Management anticipates that improved coverage will lead to a stabilization and potential increase in ASP, particularly as the ratio of covered prescriptions increases [39][40] Question: What proportion of cash-pay patients is expected to transition to insurance coverage? - While precise figures are not available, management believes that many cash-pay patients will transition to covered prescriptions due to favorable coverage wins [46][47] Question: What are the dynamics expected between Q3 and Q4 revenue? - Management expects Q4 to be strong, driven by volume growth across the portfolio, particularly from VEVYE and TRIESENCE [55][58]

Corporate Presentation November 2025 Safe Harbor This presentation contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Harrow, Inc. (the "Co ...

Financial Performance & Growth - Harrow expects 2025 revenue to be more than $280 million[9] - In Q2 2025, Adjusted EBITDA was $17006 thousand[16] - Harrow had $52963 thousand in cash and cash equivalents as of June 30, 2025[17] Product Portfolio & Market Position - VEVYE showed 66% Q/o/Q Rx volume growth[10, 34] - VEVYE captured 78% of the total DED market in Q2 2025, an increase of 26% from Q1 2025[39] - IHEEZO experienced 25% growth in unit demand in Q2 2025 vs Q1 2025[10] - TRIESENCE showed 32% growth in Q2 2025 vs Q1 2025, with Q4 2025 expansion to a new market[10] Strategic Initiatives & Acquisitions - Harrow expanded the VAFA program capacity with a strategic alliance with Apollo Care in August 2025[9] - Harrow acquired the exclusive U S rights to Samsung Bioepis ophthalmology biosimilars pipeline, including BYOOVIZ (Lucentis) & OPUVIZ (Eylea) in July 2025[9] - Harrow acquired the exclusive U S commercial rights for BYQLOVI in June 2025, planning a launch in Q1 2026[9, 46]