Earnings release
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H HARROW HEALTH INC . Harrow Health Announces Second Quarter 2021 Financial Results August 10 , 2021 Fourth Consecutive Quarter of Record Results Highlights for Second Quarter 2021 : • Record revenues of $ 18.1 million , a 125 % increase compared with $ 8.1 million for the prior - year period ; • Gross margin was 75.6 % , compared with 60.2 % for the prior - year period ; • GAAP operating income increased to $ 4.2 million compared with an operating loss of $ 3.2 million for the prior - year period ; • Commissions from DEXYCUⓇ sales increased to $ 827,000 on record unit volumes ; and • Cash and cash equivalents was $ 72.9 million at June 30 , 2021 . NASHVILLE , Tenn .-- ( BUSINESS WIRE ) -- Aug . 10 , 2021-- Harrow Health , Inc. ( NASDAQ : HROW ) , an ophthalmic - focused healthcare company , today announced record results for the second quarter and first half ended June 30 , 2021. The Company also posted its second quarter Letter to Stockholders and corporate presentation to the " Investors " section of its website , harrowinc.com . This press release features multimedia . View the full release here : https://www.businesswire.com/news/home/20210810005917/en/ " We are pleased to report that the second quarter of 2021 was our best financial quarter in company history , including new records in revenues , cash flow from operations , Adjusted EBITDA ( 1 ) , revenue per shipping day , and units shipped , " said Mark L. Baum , CEO of Harrow Health . " During the second quarter of 2021 , we strengthened our cash position by raising $ 75 million of unsecured capital . We then began to put that capital to work in a number of ways , including purchasing rights to AMP - 100 , a patented , ophthalmic topical anesthetic drug candidate , in July 2021. We expect a new drug application to be submitted to the FDA for AMP - 100 in the next few months . In addition , our pipeline of potential strategic product opportunities continues to advance , and we are making significant progress on other potential M & A transactions . We remain excited about the second half of 2021 as we position Harrow to be able to deliver a more diverse range of products to our prescribers and attractive operational results to our stockholders . " ( 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 10157937 ) : ( telephonic replay through August 17 , 2021 ) Tuesday , August 10 , 2021 4:45 p.m. Eastern time 1-833-953-2434 ( U.S. ) 1-412-317-5763 ( International ) 1-877-344-7529 ( U.S. ) 1-412-317-0088 ( International ) Webcast : ( online replay through November 10 , 2021 ) harrowinc.com About Harrow Health Harrow Health , Inc. ( NASDAQ : HROW ) is an ophthalmic - focused healthcare company . The Company owns and operates Imprimis Rx , one of the nation's leading ophthalmology outsourcing and pharmaceutical compounding businesses , and Visionology , a direct - to - consumer eye care subsidiary focused on chronic eye disease . Harrow Health also holds non - controlling equity positions in Eton Pharmaceuticals , Surface Ophthalmics and Melt Pharmaceuticals , all of which started as Harrow Health subsidiaries , and 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 .