Harrow Health Inc's stock experienced a pre-market plunge of 11.41% on Tuesday, extending losses from the previous trading session.
The sharp decline follows the company's release of first-quarter 2026 financial results, which significantly missed analyst expectations. Harrow reported a loss of $0.74 per share, much worse than the consensus estimate of a $0.39 loss, while revenue came in at $44.2 million, falling short of the $52.4 million forecast by 15.68%. The company's net loss widened to $27.6 million, and gross margin contracted to 61% from 68% a year earlier.
Management attributed part of the revenue shortfall to a non-recurring $8 million gross-to-net adjustment related to new commercial coverage for its VEVYE product. Despite the disappointing quarterly performance, the company reaffirmed its full-year 2026 revenue guidance of $350 million to $365 million and projected improved second-quarter revenue between $71 million and $81 million.
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