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Side-by-side financial comparison of HARROW, INC. (HROW) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.

HARROW, INC. is the larger business by last-quarter revenue ($89.1M vs $71.1M, roughly 1.3× RE/MAX Holdings, Inc.). HARROW, INC. runs the higher net margin — 7.4% vs 2.0%, a 5.4% gap on every dollar of revenue. On growth, HARROW, INC. posted the faster year-over-year revenue change (33.3% vs -1.8%). RE/MAX Holdings, Inc. produced more free cash flow last quarter ($33.5M vs $8.1M). Over the past eight quarters, HARROW, INC.'s revenue compounded faster (60.5% CAGR vs -4.7%).

Harrow Health, Inc., formerly known as Imprimis Pharmaceuticals, is a publicly traded pharmaceutical company based in Nashville, Tennessee.

RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.

HROW vs RMAX — Head-to-Head

Bigger by revenue
HROW
HROW
1.3× larger
HROW
$89.1M
$71.1M
RMAX
Growing faster (revenue YoY)
HROW
HROW
+35.1% gap
HROW
33.3%
-1.8%
RMAX
Higher net margin
HROW
HROW
5.4% more per $
HROW
7.4%
2.0%
RMAX
More free cash flow
RMAX
RMAX
$25.4M more FCF
RMAX
$33.5M
$8.1M
HROW
Faster 2-yr revenue CAGR
HROW
HROW
Annualised
HROW
60.5%
-4.7%
RMAX

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
HROW
HROW
RMAX
RMAX
Revenue
$89.1M
$71.1M
Net Profit
$6.6M
$1.4M
Gross Margin
79.3%
Operating Margin
17.5%
13.1%
Net Margin
7.4%
2.0%
Revenue YoY
33.3%
-1.8%
Net Profit YoY
-2.2%
-75.2%
EPS (diluted)
$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.

Revenue
HROW
HROW
RMAX
RMAX
Q4 25
$89.1M
$71.1M
Q3 25
$71.6M
$73.2M
Q2 25
$63.7M
$72.8M
Q1 25
$47.8M
$74.5M
Q4 24
$66.8M
$72.5M
Q3 24
$49.3M
$78.5M
Q2 24
$48.9M
$78.5M
Q1 24
$34.6M
$78.3M
Net Profit
HROW
HROW
RMAX
RMAX
Q4 25
$6.6M
$1.4M
Q3 25
$1.0M
$4.0M
Q2 25
$5.0M
$4.7M
Q1 25
$-17.8M
$-2.0M
Q4 24
$6.8M
$5.8M
Q3 24
$-4.2M
$966.0K
Q2 24
$-6.5M
$3.7M
Q1 24
$-13.6M
$-3.4M
Gross Margin
HROW
HROW
RMAX
RMAX
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%
Operating Margin
HROW
HROW
RMAX
RMAX
Q4 25
17.5%
13.1%
Q3 25
20.6%
25.0%
Q2 25
17.9%
19.3%
Q1 25
-23.5%
7.2%
Q4 24
19.3%
5.9%
Q3 24
2.7%
19.4%
Q2 24
3.1%
20.6%
Q1 24
-20.0%
5.8%
Net Margin
HROW
HROW
RMAX
RMAX
Q4 25
7.4%
2.0%
Q3 25
1.4%
5.4%
Q2 25
7.8%
6.4%
Q1 25
-37.2%
-2.6%
Q4 24
10.1%
8.0%
Q3 24
-8.6%
1.2%
Q2 24
-13.2%
4.7%
Q1 24
-39.2%
-4.3%
EPS (diluted)
HROW
HROW
RMAX
RMAX
Q4 25
$0.20
Q3 25
$0.03
Q2 25
$0.13
Q1 25
$-0.50
Q4 24
$0.19
Q3 24
$-0.12
Q2 24
$-0.18
Q1 24
$-0.38

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
HROW
HROW
RMAX
RMAX
Cash + ST InvestmentsLiquidity on hand
$72.9M
$118.7M
Total DebtLower is stronger
$250.0M
$432.2M
Stockholders' EquityBook value
$52.4M
$452.4M
Total Assets
$399.5M
$582.5M
Debt / EquityLower = less leverage
4.77×
0.96×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
HROW
HROW
RMAX
RMAX
Q4 25
$72.9M
$118.7M
Q3 25
$74.3M
$107.5M
Q2 25
$53.0M
$94.3M
Q1 25
$66.7M
$89.1M
Q4 24
$47.2M
$96.6M
Q3 24
$72.6M
$83.8M
Q2 24
$71.0M
$66.1M
Q1 24
$76.0M
$82.1M
Total Debt
HROW
HROW
RMAX
RMAX
Q4 25
$250.0M
$432.2M
Q3 25
$347.2M
$433.3M
Q2 25
$250.6M
$434.4M
Q1 25
$256.9M
$435.3M
Q4 24
$262.7M
$436.2M
Q3 24
$230.7M
$437.2M
Q2 24
$236.3M
$438.1M
Q1 24
$243.4M
$439.0M
Stockholders' Equity
HROW
HROW
RMAX
RMAX
Q4 25
$52.4M
$452.4M
Q3 25
$47.0M
$448.1M
Q2 25
$49.7M
$442.4M
Q1 25
$56.5M
$433.5M
Q4 24
$69.7M
$429.5M
Q3 24
$58.0M
$423.1M
Q2 24
$58.5M
$418.4M
Q1 24
$60.6M
$412.0M
Total Assets
HROW
HROW
RMAX
RMAX
Q4 25
$399.5M
$582.5M
Q3 25
$363.1M
$582.2M
Q2 25
$345.0M
$574.8M
Q1 25
$364.2M
$571.4M
Q4 24
$389.0M
$581.6M
Q3 24
$351.5M
$578.6M
Q2 24
$306.6M
$571.4M
Q1 24
$295.5M
$566.7M
Debt / Equity
HROW
HROW
RMAX
RMAX
Q4 25
4.77×
0.96×
Q3 25
7.39×
0.97×
Q2 25
5.05×
0.98×
Q1 25
4.55×
1.00×
Q4 24
3.77×
1.02×
Q3 24
3.98×
1.03×
Q2 24
4.04×
1.05×
Q1 24
4.02×
1.07×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
HROW
HROW
RMAX
RMAX
Operating Cash FlowLast quarter
$8.4M
$40.9M
Free Cash FlowOCF − Capex
$8.1M
$33.5M
FCF MarginFCF / Revenue
9.1%
47.1%
Capex IntensityCapex / Revenue
0.4%
10.4%
Cash ConversionOCF / Net Profit
1.27×
28.39×
TTM Free Cash FlowTrailing 4 quarters
$43.0M
$56.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
HROW
HROW
RMAX
RMAX
Q4 25
$8.4M
$40.9M
Q3 25
$16.6M
$17.7M
Q2 25
$-803.0K
$4.6M
Q1 25
$19.7M
$5.7M
Q4 24
$-17.8M
$59.7M
Q3 24
$3.0M
$17.6M
Q2 24
$-2.7M
$15.9M
Q1 24
$-4.6M
$9.4M
Free Cash Flow
HROW
HROW
RMAX
RMAX
Q4 25
$8.1M
$33.5M
Q3 25
$16.4M
$16.4M
Q2 25
$-969.0K
$2.9M
Q1 25
$19.5M
$4.0M
Q4 24
$-18.3M
$53.0M
Q3 24
$2.3M
$16.3M
Q2 24
$-3.1M
$14.0M
Q1 24
$-4.7M
$6.8M
FCF Margin
HROW
HROW
RMAX
RMAX
Q4 25
9.1%
47.1%
Q3 25
22.9%
22.4%
Q2 25
-1.5%
4.0%
Q1 25
40.8%
5.3%
Q4 24
-27.4%
73.2%
Q3 24
4.8%
20.8%
Q2 24
-6.3%
17.8%
Q1 24
-13.6%
8.6%
Capex Intensity
HROW
HROW
RMAX
RMAX
Q4 25
0.4%
10.4%
Q3 25
0.3%
1.8%
Q2 25
0.3%
2.2%
Q1 25
0.4%
2.3%
Q4 24
0.8%
9.1%
Q3 24
1.2%
1.7%
Q2 24
0.7%
2.4%
Q1 24
0.3%
3.3%
Cash Conversion
HROW
HROW
RMAX
RMAX
Q4 25
1.27×
28.39×
Q3 25
16.26×
4.45×
Q2 25
-0.16×
0.97×
Q1 25
Q4 24
-2.62×
10.28×
Q3 24
18.22×
Q2 24
4.29×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

HROW
HROW

Segment breakdown not available.

RMAX
RMAX

Franchising Segment$50.1M70%
Broker Fees$13.9M20%
Annual Dues$7.4M10%

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