Harrow Health, Inc. (NASDAQ:HROW) Q2 2023 Earnings Call Transcript

Andrew Boll: Hey Jim. This is Andrew. I’m happy to talk about that and address it. So on a GAAP basis for the year, we’ve lost about — just under $11 million. There are a lot of noncash impacts related to that such as amortization of the NDAs that we talked about at the beginning of the call with Jeff. Importantly subsequent to quarter end we also did raised about $69 million of new capital that will increase that equity balance in the subsequent periods.

Jim Roumell: Okay. So a lot of non-cash charges in the first half of the year?

Andrew Boll: That’s right.

Jim Roumell: So what are you writing off? Are these — are you — is this just kind of amortizing acquisitions, or are you actually writing things down?

Andrew Boll: Sure. So I can go through a couple of examples. A big chunk of that about $4.7 million of it so far is amortization of these intangible assets, non-cash amortization. There’s some investment losses related to our holding in Eaton. And then we also had a debt extinguishment costs of about $5.6 million. All of that is essentially non-cash or not operating.

Jim Roumell: Okay. Well, I appreciate that. I’ll probably follow-up later.

Andrew Boll: Thank you, Jim.

Jim Roumell: Okay. Thank you.

Operator: That is all the time we have for questions today. I will now turn the call back to Mark Baum for closing remarks.

Mark L. Baum: Thank you, operator. The first half of 2023 has proven to be a productive and exciting period for Harrow. Momentum is continuing to build in 2023 and we expect it to continue for many years to come. I know that we would never have achieved this or had a shot at achieving our goals without the trust of our loyal employees, customers, vendors and stockholders, who have supported us throughout this journey. Thanks to everyone for attending today’s call and for your interest in Harrow. If you have any investor-related questions, please e-mail Jamie Webb at jwebb@harrowinc.com. Thank you and this will conclude our call.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.