Why Is Harrow, Inc. (NASDAQ:HROW) Jumping 15.13% in Pre-Market Trade on Tuesday?

Vinay Lochav

10 November 2026 11:43 PM AEDT

Why Is Harrow, Inc. (NASDAQ:HROW) Jumping 15.13% in Pre-Market Trade on Tuesday?

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key Highlights

Harrow, Inc. (NASDAQ:HROW) was indicated at USD 31.63 before the Tuesday, November 10, 2026 open, 15.13% above a calculated prior close of USD 27.47, after results came out on November 9 at 4:02 p.m. ET.
Third quarter Revenue reached USD 99.3 million, up 39% from USD 71.6 million, with branded sales of USD 83.5 million, up 62%, and Gross Profit of USD 74.9 million at a 75% margin.
Net income came in at USD 9.8 million, or USD 0.25 per diluted share, helped by a USD 5.0 million litigation gain, while adjusted EBITDA stood at USD 21.2 million.
Full-year revenue guidance of USD 350 million to USD 365 million was kept, but adjusted EBITDA guidance was lowered to above USD 40 million from USD 80 million to USD 100 million.

Pre-Market Move in Harrow (15.13%)

Harrow released its third quarter 2026 numbers on Monday, November 9, 2026, and the shares indicated USD 31.63 pre-market on Tuesday, a 15.13% gain on a calculated prior close of USD 27.47. Revenue of USD 99.3 million grew 41% sequentially and 39% year on year. VEVYE sales reached USD 39.7 million, up 75%, IHEEZO came in at USD 25.3 million, up 15%, and TRIESENCE posted a record USD 10.7 million. Net Income of USD 9.8 million contrasts with a USD 17.3 million loss in the second quarter and USD 1.0 million of income a year earlier. Adjusted EBITDA of USD 21.2 million compares with a USD 1.2 million loss in the second quarter.

Reasons Behind the Move

The likely trigger is the Earnings release and call, held at 8:00 a.m. ET on November 10. A sharp recovery in revenue and profit from a weak second quarter probably fuelled buying, even though full-year adjusted EBITDA guidance dropped to above USD 40 million, with more than USD 33 million expected in the fourth quarter. The company also closed the TYRVAYA Acquisition on October 1 and launched HarrowRx on November 1. The IHEEZO QUELL study fell short of its non-inferiority endpoint, 55.2% against 59.7%, although adverse events were 27% versus 47%. In general, shares often rise when a quarter beats a low bar, and short covering can add to the rally.

Valuation, Trading Depth and Risk

A published snapshot showed 37.49 million shares, a 52-week range of USD 26.96 to USD 54.85 and a prior close of USD 28.95. At the calculated prior close of USD 27.47 the Equity value was about USD 1.03 billion, and at USD 31.63 it comes to about USD 1.19 billion, both calculated. The indicated price still sits 42.3% beneath the 52-week high, calculated. Nine-month Operating Cash Flow was negative USD 27.4 million, notes payable stood at USD 292.7 million against USD 75.3 million of cash, and equity was USD 28.8 million, so Leverage is a concern. The snapshot carried a nine-analyst target of USD 63.00. Pre-market Volume is light, spreads may be wide and the move could reverse at the open. Nothing here points to the gain persisting, and the regular session may look quite different.

Where Things Stand

Harrow, Inc. (NASDAQ:HROW) is up 15.13% pre-market at USD 31.63 on Tuesday, November 10, 2026, most likely because of record third quarter revenue of USD 99.3 million and a return to profit. The lower EBITDA outlook, USD 292.7 million of notes and negative nine-month cash flow temper the picture, so the 9:30 a.m. ET open will show whether the advance holds.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.