NASDAQ : HRTX
Heron Therapeutics, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 0.2944 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 55.89M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Heron Therapeutics, Inc. (HRTX) reported revenue of 151.18M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 151.18M | 154.90M | 144.28M | 127.04M | 107.67M | 86.35M |
| Cost of Revenue | 57.55M | 53.78M | 55.33M | 100.24M | 133.38M | 175.64M |
| Gross Profit | 93.63M | 101.13M | 88.95M | 26.81M | -25.71M | -89.30M |
| Selling, General & Admin | 104.50M | 103.67M | 100.48M | 119.82M | 143.55M | 127.13M |
| Operating Expenses | 104.50M | 103.67M | 100.48M | 119.82M | 143.55M | 127.13M |
| Operating Income | -10.86M | -2.54M | -11.53M | -93.02M | -169.26M | -216.43M |
| Interest Expense | -14.21M | -9.61M | -6.03M | -3.87M | -2.47M | -2.41M |
| Interest & Investment Income | 1.95M | 1.95M | 3.55M | 3.36M | 1.64M | 433.00K |
| Other Non Operating Income (Expenses) | 825.00K | 1.75M | 4.83M | 1.18M | -6.32M | -400.00K |
| EBT Excluding Unusual Items | -22.30M | -8.44M | -9.18M | -92.34M | -176.41M | -218.81M |
| Merger & Restructuring Charges | -4.20M | -5.40M | -1.40M | |||
| Gain (Loss) on Sale of Investments | 5.00K | -1.00K | ||||
| Asset Writedown | -414.00K | -414.00K | -4.41M | -617.00K | -209.00K | -478.00K |
| Other Unusual Items | -11.34M | -11.34M | -13.40M | |||
| Pretax Income | -34.05M | -20.20M | -13.58M | -110.56M | -182.02M | -220.68M |
| Net Income | -34.05M | -20.20M | -13.58M | -110.56M | -182.02M | -220.68M |
| Net Income to Common | -34.05M | -20.20M | -13.58M | -110.56M | -182.02M | -220.68M |
| Shares Outstanding (Basic) | 184.80M | 166.71M | 152.45M | 138.13M | 108.88M | 98.47M |
| Shares Outstanding (Diluted) | 184.80M | 166.71M | 152.45M | 138.13M | 108.88M | 98.47M |
| EPS (Basic) | -0.18 | -0.12 | -0.09 | -0.80 | -1.67 | -2.24 |
| EPS (Diluted) | -0.18 | -0.12 | -0.09 | -0.80 | -1.67 | -2.24 |
| Free Cash Flow | -12.13M | -27.91M | -24.23M | -60.33M | -148.74M | -206.38M |
| Free Cash Flow Per Share | -0.07 | -0.17 | -0.16 | -0.44 | -1.37 | -2.10 |
| Gross Margin | 61.93% | 65.28% | 61.65% | 21.10% | -23.87% | -103.42% |
| Operating Margin | -7.19% | -1.64% | -7.99% | -73.22% | -157.20% | -250.65% |
| Profit Margin | -22.52% | -13.04% | -9.41% | -87.02% | -169.05% | -255.58% |
| Free Cash Flow Margin | -8.03% | -18.02% | -16.80% | -47.49% | -138.14% | -239.01% |
| EBITDA | -8.73M | -224.00K | -9.04M | -90.12M | -166.37M | -213.41M |
| EBITDA Margin | -5.78% | -0.14% | -6.26% | -70.93% | -154.52% | -247.15% |
| D&A For EBITDA | 2.13M | 2.31M | 2.49M | 2.90M | 2.89M | 3.02M |
| EBIT | -10.86M | -2.54M | -11.53M | -93.02M | -169.26M | -216.43M |
| EBIT Margin | -7.19% | -1.64% | -7.99% | -73.22% | -157.20% | -250.65% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 20.72M | 28.65M | 25.80M | 28.68M | 15.36M | 90.54M |
| Short-Term Investments | 21.94M | 17.98M | 33.48M | 51.73M | 69.49M | 67.04M |
| Cash & Short-Term Investments | 42.66M | 46.63M | 59.28M | 80.41M | 84.85M | 157.58M |
| Receivables | 89.57M | 89.59M | 78.88M | 60.14M | 52.05M | 35.50M |
| Inventory | 90.58M | 92.75M | 53.16M | 42.11M | 54.57M | 48.38M |
| Prepaid Expenses | 7.03M | 9.10M | 17.69M | 6.12M | 13.96M | 12.96M |
| Total Current Assets | 229.84M | 238.07M | 209.01M | 188.77M | 205.44M | 254.42M |
| Property, Plant & Equipment | 17.41M | 12.40M | 17.65M | 25.60M | 29.80M | 33.56M |
| Other Long-Term Assets | 5.01M | 5.41M | 6.48M | 8.13M | 15.71M | 17.72M |
| Total Assets | 252.26M | 255.88M | 233.15M | 222.51M | 250.95M | 305.71M |
| Accounts Payable | 11.64M | 8.99M | 11.71M | 3.24M | 3.23M | 3.80M |
| Accrued Expenses | 76.09M | 87.10M | 76.71M | 73.37M | 76.44M | 62.26M |
| Current Portion of Leases | 200.00K | 3.04M | 3.08M | 2.69M | 2.42M | |
| Other Current Liabilities | 4.21M | 2.58M | ||||
| Total Current Liabilities | 92.14M | 96.10M | 91.46M | 79.69M | 82.36M | 71.06M |
| Long-Term Debt | 142.65M | 140.64M | 174.73M | 173.75M | 149.28M | 149.08M |
| Long-Term Leases | 5.50M | 2.80M | 5.50M | 8.00M | ||
| Other Long-Term Liabilities | 5.05M | 4.81M | 615.00K | 241.00K | 241.00K | |
| Total Liabilities | 245.35M | 241.54M | 266.80M | 256.48M | 237.38M | 228.14M |
| Common Stock | 1.90M | 1.88M | 1.52M | 1.50M | 1.19M | 1.02M |
| Additional Paid-In Capital | 1.96B | 1.95B | 1.88B | 1.87B | 1.81B | 1.69B |
| Retained Earnings | -1.95B | -1.94B | -1.92B | -1.91B | -1.80B | -1.61B |
| Comprehensive Income & Other | -6.00K | 4.00K | 13.00K | 13.00K | -19.00K | -6.00K |
| Total Common Equity | 5.86M | 13.28M | -33.65M | -33.97M | 13.57M | 77.57M |
| Shareholders' Equity | 6.91M | 14.33M | -33.65M | -33.97M | 13.57M | 77.57M |
| Total Liabilities & Equity | 252.26M | 255.88M | 233.15M | 222.51M | 250.95M | 305.71M |
| Total Debt | 148.35M | 140.64M | 177.76M | 179.63M | 157.48M | 159.50M |
| Net Cash (Debt) | -105.69M | -94.01M | -118.48M | -99.22M | -72.62M | -1.92M |
| Net Cash Per Share | -0.57 | -0.56 | -0.78 | -0.72 | -0.67 | -0.02 |
| Filing Date Shares Outstanding | 189.85M | 188.54M | 152.33M | 150.33M | 119.26M | 102.14M |
| Total Common Shares Outstanding | 189.46M | 188.31M | 152.13M | 150.29M | 119.16M | 102.00M |
| Working Capital | 137.70M | 141.97M | 117.56M | 109.09M | 123.08M | 183.37M |
| Book Value Per Share | 0.03 | 0.07 | -0.22 | -0.23 | 0.11 | 0.76 |
| Tangible Book Value | 5.86M | 13.28M | -33.65M | -33.97M | 13.57M | 77.57M |
| Tangible Book Value Per Share | 0.03 | 0.07 | -0.22 | -0.23 | 0.11 | 0.76 |
| Machinery | 25.28M | 32.40M | 36.55M | 35.81M | 36.37M | |
| Leasehold Improvements | 307.00K | 647.00K | 647.00K | 610.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -34.05M | -20.20M | -13.58M | -110.56M | -182.02M | -220.68M |
| Depreciation & Amortization | 2.13M | 2.31M | 2.49M | 2.90M | 2.89M | 3.02M |
| Other Amortization | 846.00K | 817.00K | 961.00K | 339.00K | 202.00K | 904.00K |
| Loss (Gain) From Sale of Assets | -95.00K | -27.00K | 10.00K | 74.00K | 822.00K | |
| Asset Writedown & Restructuring Costs | 421.00K | 414.00K | 4.41M | 617.00K | 209.00K | 478.00K |
| Loss (Gain) From Sale of Investments | -513.00K | -739.00K | -2.14M | -1.74M | -736.00K | 332.00K |
| Stock-Based Compensation | 11.19M | 10.34M | 12.96M | 32.85M | 42.98M | 46.85M |
| Other Operating Activities | 11.34M | 11.34M | ||||
| Change in Accounts Receivable | -9.64M | -10.71M | -18.74M | -8.09M | -16.55M | 6.35M |
| Change in Inventory | -12.10M | -31.05M | -11.05M | 12.46M | -6.19M | -6.48M |
| Change in Accounts Payable | -498.00K | -2.71M | 8.47M | 15.00K | -578.00K | 3.28M |
| Change in Other Net Operating Assets | 19.36M | 12.59M | -6.28M | 12.40M | 12.81M | -38.23M |
| Operating Cash Flow | -11.61M | -27.59M | -22.53M | -58.79M | -146.91M | -203.35M |
| Capital Expenditures | -529.00K | -317.00K | -1.71M | -1.54M | -1.82M | -3.02M |
| Sale of Property, Plant & Equipment | 45.00K | 98.00K | 27.00K | 13.00K | 227.00K | 32.00K |
| Investment in Securities | 2.68M | 16.23M | 20.39M | 19.53M | -1.73M | 35.72M |
| Investing Cash Flow | 2.20M | 16.01M | 18.71M | 18.00M | -3.32M | 32.73M |
| Long-Term Debt Issued | 137.25M | 24.35M | 148.96M | |||
| Total Debt Issued | 137.25M | 137.25M | 24.35M | 148.96M | ||
| Long-Term Debt Repaid | -150.00M | |||||
| Total Debt Repaid | -150.00M | -150.00M | ||||
| Net Debt Issued (Repaid) | -12.76M | -12.76M | 24.35M | 148.96M | ||
| Issuance of Common Stock | 18.70M | 19.32M | 940.00K | 30.66M | 76.59M | 7.07M |
| Other Financing Activities | -194.00K | -903.00K | -1.53M | |||
| Financing Cash Flow | 13.61M | 14.43M | 940.00K | 54.11M | 75.06M | 156.03M |
| Net Cash Flow | 4.21M | 2.85M | -2.88M | 13.31M | -75.18M | -14.60M |
| Free Cash Flow | -12.13M | -27.91M | -24.23M | -60.33M | -148.74M | -206.38M |
| Free Cash Flow Margin | -8.03% | -18.02% | -16.80% | -47.49% | -138.14% | -239.01% |
| Free Cash Flow Per Share | -0.07 | -0.17 | -0.16 | -0.44 | -1.37 | -2.10 |
| Levered Free Cash Flow | -8.84M | -28.46M | -25.82M | -16.84M | -75.80M | -103.97M |
| Unlevered Free Cash Flow | -805.00K | -23.28M | -23.01M | -14.76M | -74.46M | -103.37M |
| Cash Interest Paid | 9.42M | 6.51M | 4.86M | 3.06M | 2.25M | 1.24M |
| Change in Working Capital | -2.87M | -31.88M | -27.60M | 16.79M | -10.51M | -35.08M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 52.72M | 238.37M | 232.71M | 255.12M | 297.22M | 930.67M |
| Enterprise Value | 158.41M | 331.19M | 340.06M | 357.71M | 333.48M | 892.35M |
| Last Close Price | 0.28 | 1.30 | 1.53 | 1.70 | 2.50 | 9.13 |
| Forward PE | 209.09 | |||||
| PS Ratio | 0.35 | 1.54 | 1.61 | 2.01 | 2.76 | 10.78 |
| PB Ratio | 8.98 | 16.63 | -6.92 | -7.51 | 21.90 | 12.00 |
| P/TBV Ratio | 9.00 | 17.95 | 21.90 | 12.00 | ||
| EV/Sales Ratio | 1.05 | 2.14 | 2.36 | 2.82 | 3.10 | 10.34 |
| Debt / Equity Ratio | 21.48 | 9.81 | -5.28 | -5.29 | 11.60 | 2.06 |
| Net Debt / Equity Ratio | 15.30 | 6.56 | -3.52 | -2.92 | 5.35 | 0.03 |
| Net Debt / EBITDA Ratio | -12.11 | -419.67 | -13.11 | -1.10 | -0.44 | -0.01 |
| Net Debt / FCF Ratio | -8.71 | -3.37 | -4.89 | -1.64 | -0.49 | -0.01 |
| Asset Turnover | 0.62 | 0.63 | 0.63 | 0.54 | 0.39 | 0.26 |
| Inventory Turnover | 0.70 | 0.74 | 1.16 | 2.07 | 2.59 | 3.89 |
| Quick Ratio | 1.44 | 1.42 | 1.51 | 1.76 | 1.66 | 2.72 |
| Current Ratio | 2.49 | 2.48 | 2.29 | 2.37 | 2.50 | 3.58 |
| Return on Equity (ROE) | -399.43% | -140.53% | ||||
| Return on Assets (ROA) | -2.80% | -0.65% | -3.16% | -24.56% | -38.01% | -41.04% |
| Return on Capital Employed (ROCE) | -6.80% | -1.60% | -8.10% | -65.10% | -100.40% | -92.20% |
| Earnings Yield | -66.35% | -8.47% | -5.84% | -43.34% | -61.24% | -23.71% |
| FCF Yield | -23.02% | -11.71% | -10.41% | -23.65% | -50.04% | -22.18% |
| Buyback Yield / Dilution | -20.47% | -9.35% | -10.36% | -26.87% | -10.57% | -8.48% |