Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 867

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 5
Chunk 867
---
 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  
     3,564,000 
  
    Total revenues, net 
    $199,614,000  
    $130,193,000  
    $69,421,000 

The increase in revenues
from product sales between the years ended December 31, 2024 and 2023 was largely attributed to increased sales and marketing
efforts, new product launches (e.g. VEVYE) and the closing of certain product acquisitions that occurred in 2023. The decrease in
other revenues between the years ended December 31, 2024 and 2023 was the result of profit transfers from acquired products during
2023, and upon transfer of those product New Drug Applications (“NDAs”) we stopped recording a profit transfer and began
booking revenues from the sale of those products.

Cost of Sales

Our cost of sales includes direct
and indirect costs to manufacture formulations and sell products, including active pharmaceutical ingredients, personnel costs, packaging,
storage, royalties, shipping and handling costs, manufacturing equipment and tenant improvements depreciation, the write-off of obsolete
inventory, amortization of acquired product NDAs, and other related expenses.

The following presents our cost
of sales for the years ended December 31, 2024 and 2023:

Branded

    For the Years Ended December 31,  
    $ 

    2024  
    2023  
    Variance 
  
    Cost of sales 
    $21,667,