Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 279

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 279
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uishment of Debt

During the year ended December
31, 2023, we recorded a loss on extinguishment of debt of $5,465,000, related to the payoff of a loan. There were no extinguishments
of debt during the year ended December 31, 2024.

Other Income (Expense), net

During the year ended December
31, 2024 we recorded other expense, net of $(185,000) related primarily to income from the sublease of office space in Nashville, offset
by a loss associated with the cybersecurity incident. During the year ended December 31, 2023 we recorded other expense, net of
$(444,000) related primarily to transition services and write-off of inventories associated with the divestment of our non-ophthalmology
business, and a charge related to equipment that was no longer in service.

 59 

Tax Expense

During the years ended December
31, 2024 and 2023, we recorded income tax expense of $161,000 and $701,000, respectively.

The following table presents
our net loss for the years ended December 31, 2024 and 2023:

    For the Years Ended December 31, 

    2024  
    2023 
  
    Net loss 
    $(17,481,000) 
    $(24,411,000)
  
    Net loss per share, basic and diluted 
    $(0.49) 
    $(0.75)

Liquidity and Capital Resources

Liquidity

Our cash on hand at December
31, 2024 was $47,247,000, compared to $74,085,000 at December 31, 2023.

As of the date of this Annual
Report, we believe that cash and cash equivalents of $47,247,000 at December 31, 2024 will be sufficient to sustain our planned level
of operations and capital expenditures for at least the next 12 months. Management expects to refinance the Oaktree Loan during 2025.
Management believes it is probable that we will be able to refinance the Oaktree Loan; however, there can be no assurance that we will
obtain the refinancing on terms acceptable to us, or at all - see the subheading Sources of Capital below for additional discussion
regarding the Oaktree Loan and refinancing plans. In addition, we may consider the sale of certain assets including, but