HERON THERAPEUTICS, INC. /DE/ financials
Source: EDGAR filings · Built 2026-06-02T03:14:38Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -27.91M | -24.23M | -60.33M | -148.74M | -206.38M | -191.63M |
| EBITDA | -224.00K | -9.04M | -107.72M | -171.77M | -214.81M | -225.32M |
| Working Capital | 141.97M | 117.56M | 109.09M | 123.08M | 183.37M | 211.69M |
| Net Debt | 4.09M | 126.94M | 126.69M | 142.11M | 68.95M | -87.58M |
| Gross Margin | 73.31% | 73.21% | 48.75% | 49.04% | 46.70% | 12.65% |
| Operating Margin | -1.64% | -7.99% | -87.07% | -162.21% | -252.27% | -257.41% |
| Net Margin | -13.04% | -9.41% | -87.02% | -169.05% | -255.58% | -256.41% |
| Return on Equity (ROE) | -140.90% | 40.36% | 325.43% | -1341.17% | -284.50% | -96.10% |
| Return on Assets (ROA) | -7.89% | -5.82% | -49.69% | -72.53% | -72.19% | -64.28% |
| Current Ratio | 2.48× | 2.29× | 2.37× | 2.49× | 3.58× | 3.07× |
| Debt-to-Equity | 2.28× | -4.54× | -4.57× | 11.60× | 2.06× | 0.07× |
| Cash Conversion Ratio | 1.37× | 1.66× | 0.53× | 0.81× | 0.92× | 0.81× |
| Accruals Ratio | 0.03× | 0.04× | -0.23× | -0.14× | -0.06× | -0.12× |
| SBC % of Revenue | 6.67% | 8.98% | 25.86% | 39.92% | 54.26% | 56.66% |
| CapEx Coverage | -87.04× | -13.21× | -38.05× | -80.50× | -67.29× | -27.13× |
| Free Cash Flow Per Share | $-0.17 | $-0.16 | $-0.44 | $-1.37 | $-2.10 | $-2.11 |
Valuation Metrics
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cost of Goods and Services Sold | 41.35M | 38.65M | 65.11M | 54.87M | 46.02M | 36.19M |
| Gross Profit | 113.56M | 105.64M | 61.94M | 52.80M | — | 11.21M |
| Research and Development Expense | 12.43M | 16.68M | 39.13M | 82.70M | 130.82M | 174.53M |
| Operating Income (Loss) | -2.54M | -11.53M | -110.61M | -174.66M | -217.83M | -228.16M |
| Income Tax Expense (Benefit) | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income (Loss) Attributable to Parent | -20.20M | -13.58M | -110.56M | -182.02M | -220.68M | -227.28M |
| Earnings Per Share, Basic | $-0.12 | $-0.09 | $-0.80 | $-1.67 | $-2.24 | — |
| Weighted Average Number of Shares Outstanding, Basic | 166.71M | 152.45M | 138.13M | 108.88M | 98.47M | — |
| Earnings Per Share, Diluted | $-0.12 | $-0.09 | $-0.80 | $-1.67 | $-2.24 | — |
| Weighted Average Number of Shares Outstanding, Diluted | 166.71M | 152.45M | 138.13M | 108.88M | 98.47M | — |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 28.65M | 25.80M | 28.68M | 15.36M | 90.54M | 105.14M |
| Assets, Current | 238.07M | 209.01M | 188.77M | 205.44M | 254.42M | 314.20M |
| Assets | 255.88M | 233.15M | 222.51M | 250.95M | 305.71M | 353.56M |
| Liabilities, Current | 96.10M | 91.46M | 79.69M | 82.36M | 71.06M | 102.50M |
| Liabilities | 241.54M | 266.80M | 256.48M | 237.38M | 228.14M | 117.06M |
| Stockholders' Equity Attributable to Parent | 14.33M | -33.65M | -33.97M | 13.57M | 77.57M | 236.49M |
| Common Stock, Shares, Outstanding | 188.31M | 152.13M | 150.29M | 119.15M | 102.00M | 91.31M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -27.59M | -22.53M | -58.79M | -146.91M | -203.35M | -184.82M |
| Payments to Acquire Property, Plant, and Equipment | 317.00K | 1.71M | 1.54M | 1.82M | 3.02M | 6.81M |
| Net Cash Provided by (Used in) Investing Activities | 16.01M | 18.71M | 18.00M | -3.32M | 32.73M | 208.96M |
| Net Cash Provided by (Used in) Financing Activities | 14.43M | 940.00K | 54.11M | 75.06M | 156.03M | 9.11M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -1.93M | -9.18M | -18.72M | -20.05M | -8.98M | -12.42M |
| EBITDA | -4.24M | 575.00K | — | — | 3.71M | 4.75M |
| Working Capital | 138.47M | 141.97M | 139.69M | -47.68M | 124.28M | 117.56M |
| Net Debt | 7.21M | 4.09M | -10.11M | 134.83M | 132.77M | 126.94M |
| Gross Margin | 69.35% | 72.61% | 68.82% | 73.50% | 78.26% | 74.92% |
| Operating Margin | -13.73% | 0.09% | -10.71% | -4.40% | 8.11% | 10.23% |
| Net Margin | -23.37% | -7.28% | -45.78% | -6.40% | 6.77% | 8.98% |
| Return on Equity (ROE) | -88.77% | -20.61% | -117.53% | 8.74% | -9.26% | -10.89% |
| Return on Assets (ROA) | -3.29% | -1.15% | -7.03% | -1.03% | 1.12% | 1.57% |
| Current Ratio | 2.53× | 2.48× | 2.56× | 0.82× | 2.40× | 2.29× |
| Debt-to-Equity | 3.65× | 2.28× | 2.21× | -5.55× | -5.34× | -4.54× |
| Cash Conversion Ratio | 0.19× | 3.11× | 1.05× | 8.29× | -3.37× | -3.22× |
| Accruals Ratio | -0.03× | 0.02× | 0.00× | 0.07× | 0.05× | 0.07× |
| SBC % of Revenue | 8.57% | 5.37% | 21.35% | 14.27% | 6.45% | 5.63% |
| CapEx Coverage | -3.94× | — | -58.07× | -62.27× | -81.38× | -18.46× |
| Free Cash Flow Per Share | $-0.01 | $-0.06 | $-0.11 | $-0.13 | $-0.05 | $-0.08 |
Valuation Metrics
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cost of Goods and Services Sold | 10.64M | 11.12M | 11.91M | 9.86M | 8.46M | 10.23M |
| Gross Profit | 24.07M | 29.47M | 26.30M | 27.34M | 30.45M | 30.55M |
| Research and Development Expense | 2.38M | 3.75M | 3.47M | 2.93M | 2.28M | 3.18M |
| Operating Income (Loss) | -4.76M | 38.00K | -4.09M | -1.64M | 3.15M | 4.17M |
| Net Income (Loss) Attributable to Parent | -8.11M | -2.95M | -17.50M | -2.38M | 2.63M | 3.66M |
| Earnings Per Share, Basic | $-0.04 | $-0.01 | $-0.10 | $-0.02 | $0.02 | $0.02 |
| Weighted Average Number of Shares Outstanding, Basic | 189.65M | 166.71M | 170.35M | 154.02M | 153.49M | 152.45M |
| Earnings Per Share, Diluted | $-0.04 | $-0.01 | $-0.10 | $-0.02 | $0.01 | $0.02 |
| Weighted Average Number of Shares Outstanding, Diluted | 189.65M | 166.71M | 170.35M | 154.02M | 196.92M | 152.45M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 26.12M | 28.65M | 43.07M | 16.52M | 19.27M | 25.80M |
| Assets, Current | 228.98M | 238.07M | 229.40M | 210.92M | 212.84M | 209.01M |
| Assets | 246.22M | 255.88M | 248.95M | 232.09M | 235.75M | 233.15M |
| Liabilities, Current | 90.52M | 96.10M | 89.71M | 258.60M | 88.56M | 91.46M |
| Liabilities | 237.08M | 241.54M | 234.06M | 259.35M | 264.20M | 266.80M |
| Stockholders' Equity Attributable to Parent | 9.14M | 14.33M | 14.88M | -27.26M | -28.45M | -33.65M |
| Common Stock, Shares, Outstanding | — | 188.31M | — | — | — | 152.13M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -1.54M | -9.18M | -18.41M | -19.74M | -8.87M | -11.78M |
| Payments to Acquire Property, Plant, and Equipment | 391.00K | 0 | 317.00K | 317.00K | 109.00K | 638.00K |
| Net Cash Provided by (Used in) Investing Activities | -939.00K | -5.46M | 21.46M | 9.61M | 2.27M | 11.42M |
| Net Cash Provided by (Used in) Financing Activities | -51.00K | 219.00K | 14.21M | 845.00K | 64.00K | 423.00K |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (HRTX CIK 0000818033),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.