Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 1099

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 1099
---
 used. On March 20, 2024, we received communication from the National Correct Coding Initiative (NCCI) program of CMS stating that
CMS decided to increase the MUE for IHEEZO’s J-Code (J2403) from 1 to 2. The MUE edit was made effective on July 1, 2024.

VEVYE U.S. Launch

In January
2024, we launched VEVYE (cyclosporine ophthalmic solution) 0.1%, the first and only water-free cyclosporine dissolved in a semifluorinated
alkane approved to treat both the signs and symptoms of dry eye disease in the U.S. We partnered with various entities including PhilRx,
Apollo Care and PARx Solutions to enhance our market and patient access program for VEVYE.

 56 

Results of Operations

The following period-to-period
comparisons of our financial results are not necessarily indicative of results for any future period.

Comparison of Years Ended December 31, 2024
and 2023

Revenues 

Our revenues include amounts
recorded from sales of branded products to wholesalers through a third-party logistics facility, sales of proprietary compounded formulations,
and revenues received from royalty payments owed to us pursuant to out-license and like arrangements. The following presents our revenues:

    For the Years Ended  

    December 31,  
    $ 

    2024  
    2023  
    Variance 
  
    IHEEZO net sales 
    $49,303,000  
    $20,621,000  
    $28,682,000 
  
    VEVYE net sales 
     28,061,000  
     1,766,000  
     26,295,000 
  
    Other branded products net sales 
     37,836,000  
     15,124,000  
     22,712,000 
  
    Other revenues, net 
     915,000  
     12,747,000  
     (11,832,000)
  
    Branded revenue, net 
     116,115,000  
     50,258,000  
     65,857,000 
  
    ImprimisRx revenue, net 
     83,499,000  
     79,935,000  
     3