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H HARROW HEALTH INC . Harrow Health Announces Record First Quarter 2021 Financial Results May 11 , 2021 Highlights for First Quarter 2021 : • Revenues of $ 15.4 million , a 31 % increase compared with $ 11.8 million for prior year ; • • Adjusted EBITDA ( ¹ ) , a non - GAAP measure , reached a new high of $ 4.3 million , compared with $ 0.4 million for prior year ; Segment contribution from ImprimisRx increased to $ 5.7 million for the first quarter of 2021 ; • Commissions from DEXYCUⓇ sales increased to $ 485,000 , a 39 % increase over fourth quarter 2020 ; • GAAP operating income increased to $ 2.9 million compared with an operating loss of $ 0.6 million for prior year ; and • Gross margins increased to 75.6 % , compared to 69 % for prior year . NASHVILLE , Tenn . , May 11 , 2021 ( GLOBE NEWSWIRE ) -- Harrow Health , Inc. ( NASDAQ : HROW ) , an ophthalmic - focused healthcare company , today announced record results for the first quarter ended March 31 , 2021. The Company also posted its first quarter Letter to Stockholders to the " Investors " section of its website , harrowinc.com . Commenting on the Company's first quarter financial performance , Mark L. Baum , CEO of Harrow Health , said , " The first quarter of 2021 was the best financial quarter in Harrow Health's history . However , our financial performance is only part of the story - the first quarter was also outstanding in terms of our success in customer growth , product development , enhancing operating efficiencies , and the advancement of our longer - term strategic goals . The number of product units we distributed during the first quarter increased 25 % over the prior - year quarter , and commercial sales under our DEXYCU contract , which began in mid - 2020 , increased 39 % over the fourth quarter of 2020. In addition , we have a robust acquisition pipeline , and our ability to raise over $ 75 million over the last couple of months has significantly improved our capital base , ensuring that we have adequate liquidity and the financial flexibility to not only pursue additional acquisitions and transactions , but also to meet future challenges . " Thanks to the dedication of the entire Harrow family of employees , the underlying fundamentals for our eyecare - focused business and the financial and operational momentum we have built during the last three quarters hold great promise for Harrow Health . In addition , I anticipate that pent - up demand for ophthalmic procedures that were delayed due to COVID - 19 will result in increased revenues for our customers which will result in increased revenues for Harrow . All these positive forces serve as the basis for our enthusiasm for the remainder of 2021 as we demonstrate the earnings capability of incremental revenue growth in the business . " ( 1 ) A reconciliation of all non - GAAP financial results can be found later in this release . Conference Call and Webcast The Company's management team will host a conference call and live webcast today at 4:45 p.m. Eastern time to discuss the results and provide a business update . To participate in the call , see details below : Conference Call Details : Date : Time : Participant Dial - in : Replay Dial - in ( Passcode 10153709 ) : ( telephonic replay through May 18 , 2021 ) Webcast : ( online replay through August 11 , 2021 ) Tuesday , May 11 , 2021 4:45 p.m. Eastern time 1-877-270-2148 ( U.S. ) 1-412-902-6510 ( International ) 1-877-344-7529 ( U.S. ) 1-412-317-0088 ( International ) harrowinc.com About Harrow Health Harrow Health , Inc. ( NASDAQ : HROW ) is an ophthalmic - focused healthcare company . The Company owns ImprimisRx , the nation's leading ophthalmology outsourcing and pharmaceutical compounding business , and Visionology , a direct - to - consumer eye care subsidiary focused on chronic eye disease . Harrow Health also holds large equity positions in Eton Pharmaceuticals , Surface Ophthalmics and Melt Pharmaceuticals , all of which started as Harrow Health subsidiaries . Harrow Health also owns royalty rights in four clinical stage drug candidates being developed by Surface Ophthalmics and Melt Pharmaceuticals . For more information about Harrow Health , please visit the Investors section of the corporate website , harrowinc.com . Forward - Looking Statements This press release contains " forward - looking statements " within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such " forward - looking statements . " Forward - looking statements are based on management's current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein . Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include the impact of the COVID - 19 pandemic and any future health epidemics on our financial condition , liquidity and results of operations ; our ability to make commercially available our compounded formulations and technologies in a timely manner or at all ; market acceptance of the Company's formulations and challenges related to the marketing of the Company's formulations ; risks related to our compounding pharmacy operations ; our ability to enter into