Stock plummets over 25% in premarket trading

  • Harrow shares fell over 25% in premarket trading after disappointing Q3 results
  • Adjusted loss of 9 cents per share on revenue of $34.5 million
  • Full-year revenue forecast cut to $129 million to $136 million
  • Full-year adjusted Ebitda guidance lowered to $36 million to $41 million
  • Shares down over 25% to $9.58 in premarket trading

Shares of Harrow, the eyecare-pharmaceutical company, dropped more than 25% in premarket trading following the release of disappointing third-quarter results. The company reported an adjusted loss of 9 cents per share on revenue of $34.5 million, missing analysts’ expectations. Harrow also revised its full-year revenue forecast to $129 million to $136 million, down from the previous guidance of $135 million to $143 million. Additionally, the company lowered its full-year adjusted Ebitda guidance to $36 million to $41 million, compared to the previous forecast of $44 million to $50 million. As a result, Harrow shares fell to $9.58 in premarket trading, a significant decline from the previous closing price of $12.83.

Public Companies: Harrow (N/A)
Private Companies:
Key People:

Factuality Level: 8
Justification: The article provides specific information about Harrow’s third-quarter results and the company’s revised guidance. It includes data on the adjusted loss, revenue, and analyst expectations. The article does not contain any irrelevant or misleading information, and there is no sensationalism or opinion masquerading as fact. The reporting is straightforward and objective, providing accurate information about the company’s financial performance.

Noise Level: 7
Justification: The article provides relevant information about Harrow’s disappointing third-quarter results and the company’s decision to cut its full-year guidance. It includes specific figures and compares them to analysts’ expectations. However, it lacks in-depth analysis or insights into the reasons behind the poor performance or potential solutions for the company’s challenges.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Harrow

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the disappointing third-quarter results and lowered guidance of Harrow, an eyecare-pharmaceutical company. The company’s shares fell more than 25% in premarket trading.

Reported publicly: www.marketwatch.com