Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.9M | $26.8M | $41.4M | $51.2M | $48.9M | $72.5M | $88.6M | $130M | $200M | $272M |
| Revenue growth | — | 34.3% | 54.5% | 23.7% | -4.5% | 48.3% | 22.2% | 47.0% | 53.3% | 36.4% |
| Gross profit | $10.1M | $13.3M | $24.9M | $34.4M | $34.4M | $54.3M | $63.2M | $90.6M | $150M | $204M |
| Gross margin | 50.7% | 49.6% | 60.1% | 67.3% | 70.4% | 74.9% | 71.3% | 69.6% | 75.3% | 75.1% |
| Operating income | -$15.9M | -$12.2M | -$5.22M | -$4.79M | $385K | $1.61M | $1.92M | $431K | $8.82M | $30.5M |
| Operating margin | -79.6% | -45.4% | -12.6% | -9.4% | 0.8% | 2.2% | 2.2% | 0.3% | 4.4% | 11.2% |
| Net income | -$19.1M | -$12.0M | $14.6M | $168K | -$3.36M | -$18.0M | -$14.1M | -$24.4M | -$17.5M | -$5.14M |
| Net margin | -95.7% | -44.8% | 35.3% | 0.3% | -6.9% | -24.8% | -15.9% | -18.7% | -8.8% | -1.9% |
| EPS (diluted) | -$1.50 | -$0.60 | $0.61 | $0.01 | -$0.13 | -$0.69 | -$0.51 | -$0.75 | -$0.49 | -$0.14 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$11.2M | -$8.80M | $687K | $950K | -$1.10M | $5.08M | $1.71M | $3.84M | -$22.2M | $43.9M |
| Capital expenditures | $6.89M | $772K | $1.77M | $1.47M | $862K | $1.79M | $2.60M | $1.46M | $1.59M | $887K |
| Free cash flow | -$18.1M | -$9.57M | -$1.08M | -$518K | -$1.96M | $3.30M | -$892K | $2.38M | -$23.8M | $43.0M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $8.85M | $4.02M | $6.84M | $4.75M | $4.10M | $42.2M | $96.3M | $74.1M | $47.2M | $72.9M |
| Total assets | $27.2M | $23.9M | $49.5M | $59.1M | $57.5M | $98.3M | $157M | $312M | $389M | $399M |
| Total liabilities | $20.8M | $21.3M | $24.7M | $31.7M | $30.6M | $87.4M | $130M | $242M | $320M | $347M |
| Long-term debt | — | $23.5M | $23.5M | — | $20.0M | $103M | $152M | $247M | $263M | $250M |
| Shareholders' equity | $6.43M | $2.62M | $24.8M | $27.7M | $27.2M | $11.3M | $27.6M | $70.8M | $69.7M | $52.4M |
| Retained earnings | -$76.9M | -$88.8M | -$74.2M | -$74.0M | -$77.4M | -$95.4M | -$109M | -$134M | -$151M | -$157M |
| Shares (wtd avg diluted) | 18.6M | 20.0M | 23.8M | 26.5M | 25.9M | 26.8M | 27.5M | 32.6M | 35.7M | 36.8M |
Every figure is extracted from HARROW, INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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