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Side-by-side financial comparison of HARROW, INC. (HROW) and STEM, INC. (STEM). Click either name above to swap in a different company.
HARROW, INC. is the larger business by last-quarter revenue ($89.1M vs $47.1M, roughly 1.9× STEM, INC.). HARROW, INC. runs the higher net margin — 7.4% vs -33.9%, a 41.3% gap on every dollar of revenue. On growth, HARROW, INC. posted the faster year-over-year revenue change (33.3% vs -15.6%). Over the past eight quarters, HARROW, INC.'s revenue compounded faster (60.5% CAGR vs 36.1%).
Harrow Health, Inc., formerly known as Imprimis Pharmaceuticals, is a publicly traded pharmaceutical company based in Nashville, Tennessee.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
HROW vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.1M | $47.1M |
| Net Profit | $6.6M | $-16.0M |
| Gross Margin | 79.3% | 48.9% |
| Operating Margin | 17.5% | -17.7% |
| Net Margin | 7.4% | -33.9% |
| Revenue YoY | 33.3% | -15.6% |
| Net Profit YoY | -2.2% | 68.8% |
| EPS (diluted) | $0.20 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $71.6M | $38.2M | ||
| Q2 25 | $63.7M | $38.4M | ||
| Q1 25 | $47.8M | $32.5M | ||
| Q4 24 | $66.8M | $55.8M | ||
| Q3 24 | $49.3M | $29.3M | ||
| Q2 24 | $48.9M | $34.0M | ||
| Q1 24 | $34.6M | $25.5M |
| Q4 25 | $6.6M | $-16.0M | ||
| Q3 25 | $1.0M | $-23.8M | ||
| Q2 25 | $5.0M | $202.5M | ||
| Q1 25 | $-17.8M | $-25.0M | ||
| Q4 24 | $6.8M | $-51.1M | ||
| Q3 24 | $-4.2M | $-148.3M | ||
| Q2 24 | $-6.5M | $-582.3M | ||
| Q1 24 | $-13.6M | $-72.3M |
| Q4 25 | 79.3% | 48.9% | ||
| Q3 25 | 75.3% | 35.5% | ||
| Q2 25 | 74.5% | 33.4% | ||
| Q1 25 | 67.5% | 32.4% | ||
| Q4 24 | 78.8% | -4.4% | ||
| Q3 24 | 75.6% | 21.2% | ||
| Q2 24 | 74.4% | 27.6% | ||
| Q1 24 | 69.5% | -95.0% |
| Q4 25 | 17.5% | -17.7% | ||
| Q3 25 | 20.6% | -33.6% | ||
| Q2 25 | 17.9% | -34.8% | ||
| Q1 25 | -23.5% | -65.0% | ||
| Q4 24 | 19.3% | -84.4% | ||
| Q3 24 | 2.7% | -493.2% | ||
| Q2 24 | 3.1% | -1705.5% | ||
| Q1 24 | -20.0% | -267.0% |
| Q4 25 | 7.4% | -33.9% | ||
| Q3 25 | 1.4% | -62.2% | ||
| Q2 25 | 7.8% | 527.8% | ||
| Q1 25 | -37.2% | -76.9% | ||
| Q4 24 | 10.1% | -91.6% | ||
| Q3 24 | -8.6% | -506.3% | ||
| Q2 24 | -13.2% | -1712.6% | ||
| Q1 24 | -39.2% | -283.9% |
| Q4 25 | $0.20 | $-4.40 | ||
| Q3 25 | $0.03 | $-2.84 | ||
| Q2 25 | $0.13 | $-1.79 | ||
| Q1 25 | $-0.50 | $-0.15 | ||
| Q4 24 | $0.19 | $-15.29 | ||
| Q3 24 | $-0.12 | $-18.24 | ||
| Q2 24 | $-0.18 | $-71.81 | ||
| Q1 24 | $-0.38 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | $250.0M | — |
| Stockholders' EquityBook value | $52.4M | $-249.4M |
| Total Assets | $399.5M | $308.9M |
| Debt / EquityLower = less leverage | 4.77× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.9M | $48.9M | ||
| Q3 25 | $74.3M | $43.1M | ||
| Q2 25 | $53.0M | $40.8M | ||
| Q1 25 | $66.7M | $58.6M | ||
| Q4 24 | $47.2M | $56.3M | ||
| Q3 24 | $72.6M | $75.4M | ||
| Q2 24 | $71.0M | $89.6M | ||
| Q1 24 | $76.0M | $112.8M |
| Q4 25 | $250.0M | — | ||
| Q3 25 | $347.2M | — | ||
| Q2 25 | $250.6M | — | ||
| Q1 25 | $256.9M | — | ||
| Q4 24 | $262.7M | — | ||
| Q3 24 | $230.7M | — | ||
| Q2 24 | $236.3M | — | ||
| Q1 24 | $243.4M | — |
| Q4 25 | $52.4M | $-249.4M | ||
| Q3 25 | $47.0M | $-235.7M | ||
| Q2 25 | $49.7M | $-214.1M | ||
| Q1 25 | $56.5M | $-417.5M | ||
| Q4 24 | $69.7M | $-398.4M | ||
| Q3 24 | $58.0M | $-344.1M | ||
| Q2 24 | $58.5M | $-203.2M | ||
| Q1 24 | $60.6M | $371.6M |
| Q4 25 | $399.5M | $308.9M | ||
| Q3 25 | $363.1M | $362.6M | ||
| Q2 25 | $345.0M | $379.2M | ||
| Q1 25 | $364.2M | $405.1M | ||
| Q4 24 | $389.0M | $437.4M | ||
| Q3 24 | $351.5M | $537.8M | ||
| Q2 24 | $306.6M | $691.5M | ||
| Q1 24 | $295.5M | $1.3B |
| 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 | $8.4M | $8.2M |
| Free Cash FlowOCF − Capex | $8.1M | — |
| FCF MarginFCF / Revenue | 9.1% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | 1.27× | — |
| TTM Free Cash FlowTrailing 4 quarters | $43.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.4M | $8.2M | ||
| Q3 25 | $16.6M | $11.4M | ||
| Q2 25 | $-803.0K | $-21.3M | ||
| Q1 25 | $19.7M | $8.5M | ||
| Q4 24 | $-17.8M | $-14.7M | ||
| Q3 24 | $3.0M | $-9.4M | ||
| Q2 24 | $-2.7M | $-11.9M | ||
| Q1 24 | $-4.6M | $-621.0K |
| Q4 25 | $8.1M | — | ||
| Q3 25 | $16.4M | — | ||
| Q2 25 | $-969.0K | — | ||
| Q1 25 | $19.5M | — | ||
| Q4 24 | $-18.3M | — | ||
| Q3 24 | $2.3M | — | ||
| Q2 24 | $-3.1M | — | ||
| Q1 24 | $-4.7M | — |
| Q4 25 | 9.1% | — | ||
| Q3 25 | 22.9% | — | ||
| Q2 25 | -1.5% | — | ||
| Q1 25 | 40.8% | — | ||
| Q4 24 | -27.4% | — | ||
| Q3 24 | 4.8% | — | ||
| Q2 24 | -6.3% | — | ||
| Q1 24 | -13.6% | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 0.3% | — |
| Q4 25 | 1.27× | — | ||
| Q3 25 | 16.26× | — | ||
| Q2 25 | -0.16× | -0.11× | ||
| 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.
