Heron Therapeutics, Inc. (HRTX) Financial Statements
Industry: Pharmaceutical Preparations
In fiscal 2025, Heron Therapeutics reported revenue of $154.9M, up 7.4% from $144.3M the year before. Net income was -$20.2M (a -13.0% net margin), or -$0.12 per diluted share. Gross margin was 73.3% and operating margin was -1.6%. Operating activities generated -$27.6M of cash, leaving -$27.9M of free cash flow. At fiscal year end, Heron Therapeutics held $255.9M in total assets against $241.5M in total liabilities, including $28.6M of cash and equivalents.
Open the full interactive Heron Therapeutics financials → Quarterly statements, key ratios, valuation history and price charts.
Heron Therapeutics Key Stats
| Share Price | $0.39 |
|---|---|
| Market Cap | $74.2M |
| Revenue YoY Growth | +7.4% |
| 52-Week Range | $0.27 – $1.49 |
| Shares Outstanding | 190.3 million (basic, 2026 Q2) |
Heron Therapeutics Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $88.6M | $86.3M | $107.7M | $127.0M | $144.3M | $154.9M |
| Cost of Goods Sold | $36.2M | $46.0M | $54.9M | $65.1M | $38.6M | $41.3M |
| Gross Profit | $52.4M | $40.3M | $52.8M | $61.9M | $105.6M | $113.6M |
| Operating Income | -$228.2M | -$217.8M | -$174.7M | -$110.6M | -$11.5M | -$2.5M |
| Pre-Tax Income | -$227.3M | -$220.7M | -$182.0M | -$110.6M | -$13.6M | -$20.2M |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$227.3M | -$220.7M | -$182.0M | -$110.6M | -$13.6M | -$20.2M |
| Diluted EPS | -$2.50 | -$2.24 | -$1.67 | -$0.80 | -$0.09 | -$0.12 |
Heron Therapeutics Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $38.2M | $40.6M | $34.7M | $37.7M |
| Net Income | -$17.5M | -$3.0M | -$8.1M | -$5.5M |
| Diluted EPS | -$0.10 | -$0.02 | -$0.04 | -$0.03 |
Heron Therapeutics Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $105.1M | $90.5M | $15.4M | $28.7M | $25.8M | $28.6M |
| Current Assets | $314.2M | $254.4M | $205.4M | $188.8M | $209.0M | $238.1M |
| Total Assets | $353.6M | $305.7M | $251.0M | $222.5M | $233.1M | $255.9M |
| Current Liabilities | $102.5M | $71.1M | $82.4M | $79.7M | $91.5M | $96.1M |
| Total Long-Term Debt | — | $149.1M | $149.3M | $149.5M | $149.7M | $32.7M |
| Total Liabilities | $117.1M | $228.1M | $237.4M | $256.5M | $266.8M | $241.5M |
| Shareholders' Equity | $236.5M | $77.6M | $13.6M | -$34.0M | -$33.7M | $14.3M |
Heron Therapeutics Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$184.8M | -$203.4M | -$146.9M | -$58.8M | -$22.5M | -$27.6M |
| Cash From Investing | $209.0M | $32.7M | -$3.3M | $18.0M | $18.7M | $16.0M |
| Cash From Financing | $9.1M | $156.0M | $75.1M | $54.1M | $940,000 | $14.4M |
| Free Cash Flow | -$191.6M | -$206.4M | -$148.7M | -$60.3M | -$24.2M | -$27.9M |
Figures from Heron Therapeutics' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Heron Therapeutics financials page for every line item.
Heron Therapeutics Company Profile
| Ticker | HRTX |
|---|---|
| Exchange | Nasdaq |
| Industry | Pharmaceutical Preparations |
| Headquarters | San Diego, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0000818033 |
Frequently Asked Questions
What was Heron Therapeutics' revenue in fiscal 2025?
Heron Therapeutics (HRTX) reported revenue of $154.9M for fiscal 2025.
What is Heron Therapeutics' annual revenue history?
Heron Therapeutics' annual revenue by fiscal year: 2020: $88.6M; 2021: $86.3M; 2022: $107.7M; 2023: $127.0M; 2024: $144.3M; 2025: $154.9M.
What was Heron Therapeutics' net income in fiscal 2025?
Heron Therapeutics reported net income of -$20.2M for fiscal 2025.
What was Heron Therapeutics' earnings per share (EPS) in fiscal 2025?
Heron Therapeutics' diluted EPS was -$0.12 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Heron Therapeutics generate in fiscal 2025?
Heron Therapeutics generated -$27.9M of free cash flow in fiscal 2025.
What was Heron Therapeutics' revenue last quarter?
In its most recent reported quarter (2026 Q2), Heron Therapeutics reported revenue of $37.7M.
How much debt does Heron Therapeutics have?
Heron Therapeutics reported $32.7M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Heron Therapeutics are outstanding?
Heron Therapeutics reported a weighted average of 190.3 million basic shares outstanding in 2026 Q2.
What is Heron Therapeutics' market cap?
Based on its latest closing price, Heron Therapeutics (HRTX) has a market capitalization of about $74.2M.
When does Heron Therapeutics' fiscal year end?
Heron Therapeutics' fiscal year end, as registered with the SEC, is December 31.
Where is Heron Therapeutics headquartered?
Heron Therapeutics lists its business address in San Diego, California in its SEC filings.