The following is a summary of the Harrow, Inc. (HROW) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Harrow reported a record Q3 revenue of $49.3 million, a 44% increase over the prior year and a slight increase over the previous quarter.

• Gross margins remained solid, contributing positively to overall financial health, while operational cash generation was reported.

• Projections for Q4 are set high, positioned as the strongest quarter, underpinned by consistent record performance noted in October.

Business Progress:

• Launched VEVYE, a dry eye treatment showing rapid onset and high efficacy, which gained strong market traction with a 55% prescription increase QoQ.

• Experiencing a temporary inventory shortage for VEVYE in Q3, indicating higher-than-expected demand, but have adjusted inventory to prevent future shortages.

• Shift in strategy to focus the commercial team on the retina specialist community for IHEEZO, enhancing its presence in the intravitreal injection market.

• Relaunch of TRIESENCE has garnered positive initial responses, expected to significantly contribute to future revenues.

Opportunities:

• Expanded the covered territories for VEVYE from 51 in Q2 to 61 in Q3, planning further territory expansions as market share increases.

• The strategic pivot to focus on retina specialists for IHEEZO is aimed at enhancing market impact with fewer call points.

Risks:

• Temporary inventory shortage for VEVYE might suggest challenges in supply chain forecasting and management, which if not addressed, could impact future sales during peak demand periods.

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