HARROW HEALTH Reports 43.5% Increase in Revenue for FY2023 Q2, Totaling USD 33.5 Million
August 21, 2023
☀️Earnings Overview
For the second quarter of fiscal year 2023, HARROW HEALTH ($NASDAQ:HROW) recorded total revenue of USD 33.5 million, an increase of 43.5% compared to the same quarter of the prior year. Net income for this period was USD -4.2 million, a decrease from the reported -6.2 million in the same quarter the year before.
Analysis
GoodWhale’s analysis of HARROW HEALTH‘s fundamentals shows that the company is classified as a “gorilla” according to its Star Chart – a type of company that has achieved a stable and high revenue or earnings growth due to its strong competitive advantage. This makes it an attractive investment opportunity for many investors, especially those looking for long-term growth potential. HARROW HEALTH’s health score is an intermediate 4/10, considering its cash flows and debt. This indicates that the company is likely to pay off its debt and fund future operations. Furthermore, GoodWhale’s analysis reveals that HARROW HEALTH is strong in terms of growth, but only medium in terms of profitability and weak in terms of assets and dividends. This makes it an interesting option for investors seeking a balance of both short-term income and long-term growth potential. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Harrow Health. More…
| Total Revenues | Net Income | Net Margin |
| 102.72 | -16.28 | -17.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Harrow Health. More…
| Operations | Investing | Financing |
| -7.77 | -133.29 | 117.38 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Harrow Health. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 223.99 | 201.94 | 0.74 |
Key Ratios Snapshot
Some of the financial key ratios for Harrow Health are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 31.4% | – | 6.1% |
| FCF Margin | ROE | ROA |
| -143.2% | 17.6% | 1.7% |
Peers
Its competitors include Universe Pharmaceuticals Inc, CEN Biotech Inc, and Earth Science Tech Inc.
– Universe Pharmaceuticals Inc ($NASDAQ:UPC)
Universe Pharmaceuticals Inc is a pharmaceutical company with a market cap of 25.66M as of 2022. The company has a Return on Equity of 7.88%. Universe Pharmaceuticals Inc is engaged in the research, development, manufacture and sale of pharmaceutical and health products. The company’s products include prescription drugs, over-the-counter drugs, herbal remedies and dietary supplements. Universe Pharmaceuticals Inc is headquartered in New York, New York.
– CEN Biotech Inc ($OTCPK:CENBF)
CEN Biotech is a biotech company that focuses on developing and commercializing innovative therapies for the treatment of cancer and other serious diseases. The company has a market cap of 2.73M and a ROE of 97.87%. CEN Biotech is a publicly traded company on the OTCQB market under the ticker symbol “CENB”.
– Earth Science Tech Inc ($OTCPK:ETST)
With a market cap of 2.59M, Science Tech Inc is a small company with a ROE of -103.79%. The company focuses on providing innovative engineering and technical solutions to the commercial, industrial, and governmental sectors. Science Tech Inc has a long history of providing quality services and products that meet or exceed customer expectations. The company is committed to providing value to its customers through its products and services.
Summary
Harrow Health is a healthcare company that recently reported its financial performance for the second quarter of FY2023. Total revenue for the quarter was USD 33.5 million, a year-over-year increase of 43.5%. Net income was USD -4.2 million, a decrease from the previous year’s quarter.
For investors considering the stock, it is important to consider factors such as the company’s competitive positioning, growth potential, risk profile, and industry trends in order to make an informed investment decision. It is also essential to evaluate the financial performance of the company over time and compare it to peers in order to understand the stock’s potential.
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