Company: HROW
Filing Date: 2025-03-17
Form Type: NT 10-K
Source: 0001493152-25-010636
Chunk: 3

Company: HARROW, INC.
Filing Date: 2025-03-17
Form: NT 10-K
Chunk 3
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-K”), the Company reported the following preliminary unaudited results with respect to its 2024 full fiscal year and fourth quarter.

|                                      |     |   | For the Three Months Ended 
 December 31, 2024          |     |   | For the Year Ended 
 December 31, 2024  |
|:-------------------------------------|:----|:--|:---------------------------|:----|:--|:-------------------|
| Revenues                             |     | $ | 65 - $67 million           |     | $ | 198 - $200 million |
| Net Income (Loss)                    |     | $ | 5                          
 - $7 million               |     | $ | (17)               
 - $(19) million    |
| Adjusted EBITDA (a non-GAAP measure) |     | $ | 21                         
 - $23 million              |     | $ | 39 - $41 million   |

Adjusted EBITDA

The Company defines Adjusted EBITDA as net income (loss), excluding the effects of stock-based compensation and expenses, impairment of intangible assets, interest, taxes, depreciation, amortization, investment loss, net, and, if any and when specified, other non-recurring income or expense items. Management believes that the most directly comparable GAAP financial measure to Adjusted EBITDA is net income (loss). Adjusted EBITDA has limitations and should not be considered as an alternative to gross profit or net loss as a measure of operating performance or to net cash provided by (used in) operating, investing, or financing activities as a measure of ability to meet cash needs.

The following is a reconciliation of Adjusted EBITDA, a non-GAAP measure, to the most comparable GAAP measure, net income (loss), for the three months and year ended December 31, 2024:

|                                       |     |   |    For the Three Months 
 Ended December 31, 2024 |   |     |   |         For the Year Ended 
          December 31, 2024 |
|:--------------------------------------|:----|:--|------------------------:|:--|:----|:--|---------------------------:|
| GAAP net income (loss) range          |     | $ |   5,000,000 - 7,000,000 |   |     | $ | -17,000,000) – (19,000,000 |
| Stock-based compensation and expenses |