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Side-by-side financial comparison of Fat Brands, Inc (FAT) and HARROW, INC. (HROW). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $89.1M, roughly 1.6× HARROW, INC.). HARROW, INC. runs the higher net margin — 7.4% vs -41.6%, a 49.0% gap on every dollar of revenue. On growth, HARROW, INC. posted the faster year-over-year revenue change (33.3% vs -2.3%). HARROW, INC. produced more free cash flow last quarter ($8.1M vs $-16.9M). Over the past eight quarters, HARROW, INC.'s revenue compounded faster (60.5% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Harrow Health, Inc., formerly known as Imprimis Pharmaceuticals, is a publicly traded pharmaceutical company based in Nashville, Tennessee.
FAT vs HROW — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $89.1M |
| Net Profit | $-58.2M | $6.6M |
| Gross Margin | — | 79.3% |
| Operating Margin | -12.4% | 17.5% |
| Net Margin | -41.6% | 7.4% |
| Revenue YoY | -2.3% | 33.3% |
| Net Profit YoY | -30.1% | -2.2% |
| EPS (diluted) | $-3.39 | $0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $89.1M | ||
| Q3 25 | $140.0M | $71.6M | ||
| Q2 25 | $146.8M | $63.7M | ||
| Q1 25 | $142.0M | $47.8M | ||
| Q4 24 | $145.3M | $66.8M | ||
| Q3 24 | $143.4M | $49.3M | ||
| Q2 24 | $152.0M | $48.9M | ||
| Q1 24 | $152.0M | $34.6M |
| Q4 25 | — | $6.6M | ||
| Q3 25 | $-58.2M | $1.0M | ||
| Q2 25 | $-54.2M | $5.0M | ||
| Q1 25 | $-46.0M | $-17.8M | ||
| Q4 24 | $-67.4M | $6.8M | ||
| Q3 24 | $-44.8M | $-4.2M | ||
| Q2 24 | $-39.4M | $-6.5M | ||
| Q1 24 | $-38.3M | $-13.6M |
| Q4 25 | — | 79.3% | ||
| Q3 25 | — | 75.3% | ||
| Q2 25 | — | 74.5% | ||
| Q1 25 | — | 67.5% | ||
| Q4 24 | — | 78.8% | ||
| Q3 24 | — | 75.6% | ||
| Q2 24 | — | 74.4% | ||
| Q1 24 | — | 69.5% |
| Q4 25 | — | 17.5% | ||
| Q3 25 | -12.4% | 20.6% | ||
| Q2 25 | -10.6% | 17.9% | ||
| Q1 25 | -6.0% | -23.5% | ||
| Q4 24 | -27.1% | 19.3% | ||
| Q3 24 | -6.2% | 2.7% | ||
| Q2 24 | -1.8% | 3.1% | ||
| Q1 24 | -0.9% | -20.0% |
| Q4 25 | — | 7.4% | ||
| Q3 25 | -41.6% | 1.4% | ||
| Q2 25 | -36.9% | 7.8% | ||
| Q1 25 | -32.4% | -37.2% | ||
| Q4 24 | -46.4% | 10.1% | ||
| Q3 24 | -31.2% | -8.6% | ||
| Q2 24 | -25.9% | -13.2% | ||
| Q1 24 | -25.2% | -39.2% |
| Q4 25 | — | $0.20 | ||
| Q3 25 | $-3.39 | $0.03 | ||
| Q2 25 | $-3.17 | $0.13 | ||
| Q1 25 | $-2.73 | $-0.50 | ||
| Q4 24 | $-4.06 | $0.19 | ||
| Q3 24 | $-2.74 | $-0.12 | ||
| Q2 24 | $-2.43 | $-0.18 | ||
| Q1 24 | $-2.37 | $-0.38 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $72.9M |
| Total DebtLower is stronger | $1.3B | $250.0M |
| Stockholders' EquityBook value | $-585.8M | $52.4M |
| Total Assets | $1.2B | $399.5M |
| Debt / EquityLower = less leverage | — | 4.77× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $72.9M | ||
| Q3 25 | — | $74.3M | ||
| Q2 25 | — | $53.0M | ||
| Q1 25 | — | $66.7M | ||
| Q4 24 | — | $47.2M | ||
| Q3 24 | — | $72.6M | ||
| Q2 24 | — | $71.0M | ||
| Q1 24 | — | $76.0M |
| Q4 25 | — | $250.0M | ||
| Q3 25 | $1.3B | $347.2M | ||
| Q2 25 | $1.3B | $250.6M | ||
| Q1 25 | $1.3B | $256.9M | ||
| Q4 24 | $1.3B | $262.7M | ||
| Q3 24 | $1.2B | $230.7M | ||
| Q2 24 | $1.2B | $236.3M | ||
| Q1 24 | $1.2B | $243.4M |
| Q4 25 | — | $52.4M | ||
| Q3 25 | $-585.8M | $47.0M | ||
| Q2 25 | $-536.5M | $49.7M | ||
| Q1 25 | $-493.9M | $56.5M | ||
| Q4 24 | $-455.7M | $69.7M | ||
| Q3 24 | $-386.1M | $58.0M | ||
| Q2 24 | $-338.6M | $58.5M | ||
| Q1 24 | $-296.8M | $60.6M |
| Q4 25 | — | $399.5M | ||
| Q3 25 | $1.2B | $363.1M | ||
| Q2 25 | $1.2B | $345.0M | ||
| Q1 25 | $1.3B | $364.2M | ||
| Q4 24 | $1.3B | $389.0M | ||
| Q3 24 | $1.3B | $351.5M | ||
| Q2 24 | $1.4B | $306.6M | ||
| Q1 24 | $1.4B | $295.5M |
| Q4 25 | — | 4.77× | ||
| Q3 25 | — | 7.39× | ||
| Q2 25 | — | 5.05× | ||
| Q1 25 | — | 4.55× | ||
| Q4 24 | — | 3.77× | ||
| Q3 24 | — | 3.98× | ||
| Q2 24 | — | 4.04× | ||
| Q1 24 | — | 4.02× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-14.5M | $8.4M |
| Free Cash FlowOCF − Capex | $-16.9M | $8.1M |
| FCF MarginFCF / Revenue | -12.1% | 9.1% |
| Capex IntensityCapex / Revenue | 1.7% | 0.4% |
| Cash ConversionOCF / Net Profit | — | 1.27× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | $43.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $8.4M | ||
| Q3 25 | $-14.5M | $16.6M | ||
| Q2 25 | $-26.9M | $-803.0K | ||
| Q1 25 | $-13.2M | $19.7M | ||
| Q4 24 | $-10.4M | $-17.8M | ||
| Q3 24 | $-3.2M | $3.0M | ||
| Q2 24 | $-14.2M | $-2.7M | ||
| Q1 24 | $-28.4M | $-4.6M |
| Q4 25 | — | $8.1M | ||
| Q3 25 | $-16.9M | $16.4M | ||
| Q2 25 | $-29.3M | $-969.0K | ||
| Q1 25 | $-17.8M | $19.5M | ||
| Q4 24 | $-11.0M | $-18.3M | ||
| Q3 24 | $-11.1M | $2.3M | ||
| Q2 24 | $-24.4M | $-3.1M | ||
| Q1 24 | $-32.5M | $-4.7M |
| Q4 25 | — | 9.1% | ||
| Q3 25 | -12.1% | 22.9% | ||
| Q2 25 | -20.0% | -1.5% | ||
| Q1 25 | -12.5% | 40.8% | ||
| Q4 24 | -7.6% | -27.4% | ||
| Q3 24 | -7.7% | 4.8% | ||
| Q2 24 | -16.1% | -6.3% | ||
| Q1 24 | -21.4% | -13.6% |
| Q4 25 | — | 0.4% | ||
| Q3 25 | 1.7% | 0.3% | ||
| Q2 25 | 1.6% | 0.3% | ||
| Q1 25 | 3.2% | 0.4% | ||
| Q4 24 | 0.4% | 0.8% | ||
| Q3 24 | 5.5% | 1.2% | ||
| Q2 24 | 6.7% | 0.7% | ||
| Q1 24 | 2.7% | 0.3% |
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | 16.26× | ||
| Q2 25 | — | -0.16× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -2.62× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FAT
| Restaurant Sales | $96.6M | 69% |
| Royalty | $21.6M | 15% |
| Factory | $9.6M | 7% |
| Advertising | $9.1M | 7% |
| Franchisor | $1.5M | 1% |
| Other | $1.5M | 1% |
HROW
Segment breakdown not available.
