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Side-by-side financial comparison of HARROW, INC. (HROW) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
HARROW, INC. is the larger business by last-quarter revenue ($89.1M vs $51.6M, roughly 1.7× Velocity Financial, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs 7.4%, a 59.9% gap on every dollar of revenue. On growth, HARROW, INC. posted the faster year-over-year revenue change (33.3% vs 32.8%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $8.1M). Over the past eight quarters, HARROW, INC.'s revenue compounded faster (60.5% CAGR vs 32.3%).
Harrow Health, Inc., formerly known as Imprimis Pharmaceuticals, is a publicly traded pharmaceutical company based in Nashville, Tennessee.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
HROW vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.1M | $51.6M |
| Net Profit | $6.6M | $34.8M |
| Gross Margin | 79.3% | — |
| Operating Margin | 17.5% | 97.0% |
| Net Margin | 7.4% | 67.3% |
| Revenue YoY | 33.3% | 32.8% |
| Net Profit YoY | -2.2% | 67.0% |
| EPS (diluted) | $0.20 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $71.6M | $49.1M | ||
| Q2 25 | $63.7M | $47.6M | ||
| Q1 25 | $47.8M | $37.5M | ||
| Q4 24 | $66.8M | $38.9M | ||
| Q3 24 | $49.3M | $35.1M | ||
| Q2 24 | $48.9M | $32.4M | ||
| Q1 24 | $34.6M | $29.5M |
| Q4 25 | $6.6M | $34.8M | ||
| Q3 25 | $1.0M | $25.4M | ||
| Q2 25 | $5.0M | $26.0M | ||
| Q1 25 | $-17.8M | $18.9M | ||
| Q4 24 | $6.8M | $20.8M | ||
| Q3 24 | $-4.2M | $15.8M | ||
| Q2 24 | $-6.5M | $14.8M | ||
| Q1 24 | $-13.6M | $17.3M |
| 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% | 97.0% | ||
| Q3 25 | 20.6% | 72.1% | ||
| Q2 25 | 17.9% | 71.3% | ||
| Q1 25 | -23.5% | 71.7% | ||
| Q4 24 | 19.3% | 82.5% | ||
| Q3 24 | 2.7% | 60.6% | ||
| Q2 24 | 3.1% | 61.3% | ||
| Q1 24 | -20.0% | 78.8% |
| Q4 25 | 7.4% | 67.3% | ||
| Q3 25 | 1.4% | 51.7% | ||
| Q2 25 | 7.8% | 54.6% | ||
| Q1 25 | -37.2% | 50.4% | ||
| Q4 24 | 10.1% | 53.5% | ||
| Q3 24 | -8.6% | 45.1% | ||
| Q2 24 | -13.2% | 45.6% | ||
| Q1 24 | -39.2% | 58.5% |
| Q4 25 | $0.20 | $0.90 | ||
| Q3 25 | $0.03 | $0.65 | ||
| Q2 25 | $0.13 | $0.69 | ||
| Q1 25 | $-0.50 | $0.51 | ||
| Q4 24 | $0.19 | $0.56 | ||
| Q3 24 | $-0.12 | $0.44 | ||
| Q2 24 | $-0.18 | $0.42 | ||
| Q1 24 | $-0.38 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | $250.0M | — |
| Stockholders' EquityBook value | $52.4M | $672.5M |
| Total Assets | $399.5M | $7.4B |
| Debt / EquityLower = less leverage | 4.77× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.9M | $92.1M | ||
| Q3 25 | $74.3M | $99.0M | ||
| Q2 25 | $53.0M | $79.6M | ||
| Q1 25 | $66.7M | $51.7M | ||
| Q4 24 | $47.2M | $49.9M | ||
| Q3 24 | $72.6M | $44.1M | ||
| Q2 24 | $71.0M | $47.4M | ||
| Q1 24 | $76.0M | $34.8M |
| 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 | $672.5M | ||
| Q3 25 | $47.0M | $634.3M | ||
| Q2 25 | $49.7M | $597.9M | ||
| Q1 25 | $56.5M | $563.2M | ||
| Q4 24 | $69.7M | $516.9M | ||
| Q3 24 | $58.0M | $484.6M | ||
| Q2 24 | $58.5M | $471.3M | ||
| Q1 24 | $60.6M | $452.9M |
| Q4 25 | $399.5M | $7.4B | ||
| Q3 25 | $363.1M | $7.0B | ||
| Q2 25 | $345.0M | $6.5B | ||
| Q1 25 | $364.2M | $6.0B | ||
| Q4 24 | $389.0M | $5.5B | ||
| Q3 24 | $351.5M | $5.2B | ||
| Q2 24 | $306.6M | $4.9B | ||
| Q1 24 | $295.5M | $4.6B |
| 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 | $18.2M |
| Free Cash FlowOCF − Capex | $8.1M | $17.9M |
| FCF MarginFCF / Revenue | 9.1% | 34.6% |
| Capex IntensityCapex / Revenue | 0.4% | 0.5% |
| Cash ConversionOCF / Net Profit | 1.27× | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $43.0M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.4M | $18.2M | ||
| Q3 25 | $16.6M | $11.5M | ||
| Q2 25 | $-803.0K | $7.7M | ||
| Q1 25 | $19.7M | $3.5M | ||
| Q4 24 | $-17.8M | $37.8M | ||
| Q3 24 | $3.0M | $-17.6M | ||
| Q2 24 | $-2.7M | $11.5M | ||
| Q1 24 | $-4.6M | $10.6M |
| Q4 25 | $8.1M | $17.9M | ||
| Q3 25 | $16.4M | $11.4M | ||
| Q2 25 | $-969.0K | $7.6M | ||
| Q1 25 | $19.5M | $3.5M | ||
| Q4 24 | $-18.3M | $37.5M | ||
| Q3 24 | $2.3M | $-17.6M | ||
| Q2 24 | $-3.1M | $11.4M | ||
| Q1 24 | $-4.7M | $10.5M |
| Q4 25 | 9.1% | 34.6% | ||
| Q3 25 | 22.9% | 23.2% | ||
| Q2 25 | -1.5% | 15.9% | ||
| Q1 25 | 40.8% | 9.2% | ||
| Q4 24 | -27.4% | 96.4% | ||
| Q3 24 | 4.8% | -50.3% | ||
| Q2 24 | -6.3% | 35.1% | ||
| Q1 24 | -13.6% | 35.8% |
| Q4 25 | 0.4% | 0.5% | ||
| Q3 25 | 0.3% | 0.1% | ||
| Q2 25 | 0.3% | 0.2% | ||
| Q1 25 | 0.4% | 0.2% | ||
| Q4 24 | 0.8% | 0.7% | ||
| Q3 24 | 1.2% | 0.2% | ||
| Q2 24 | 0.7% | 0.3% | ||
| Q1 24 | 0.3% | 0.1% |
| Q4 25 | 1.27× | 0.52× | ||
| Q3 25 | 16.26× | 0.45× | ||
| Q2 25 | -0.16× | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | -2.62× | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HROW
Segment breakdown not available.
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
