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NASDAQ · PHARMACEUTICAL PREPARATIONS · MID CAP

Heron Therapeutics, Inc. HRTX

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$154.9M
▲ 7.4% YoY
$-20.2M
$-27.9M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Its ZYNRELEF product is a dual-acting local anesthetic that delivers a fixed-dose combination of the local anesthetic bupivacaine and a low dose of the nonsteroidal anti-inflammatory drug meloxicam. APONVIE is the first and only intravenous formulation of aprepitant, a substance P/neurokinin-1 receptor antagonist indicated for postoperative nausea and vomiting in adults. Its products are distributed in the U.S. through a limited number of specialty distributors and full line wholesalers that resell to healthcare providers and hospitals. As of December 31, 2025, the company employed 128 full-time employees, 78 of whom were involved in sales and marketing activities, 7 in research and development activities and 43 in general and administrative activities.

Written from the business description in HERON THERAPEUTICS, INC. /DE/'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth

USD 154.9M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 154.9 · Net income -20.2
100M200M-100M-200M
2009201220152018202120242025
Compound annual growth
+12.9%
+11.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +11.8% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−13 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -1.6% · Net -13.0%
-5000%-10000%
200920172025
ROE
FY2022 · ROE -399.4%
-100%-200%-300%
200920172025
Three returns, three denominators.
Return on equityNot applicable: equity was zero or negative in this period, so return on equity has no meaning.
Gross margin73.3%
Operating margin-1.6%
Net margin-13.0%
EBITDAUSD -224,000.00

Return on equity has no reading this year — return on capital employed, just below, still does: -2%.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -27.9
-100M-200M
200920172025

Total assetsUSD 255.9M
EquityUSD 14.3M
CashUSD 28.6M
Current ratio2.48×

Equity funds 6% of total assets.

The 17-year record

17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
HRTX, 17-year financial record
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.20.10.10.10.10.10.10.10.00.0◌◌◌◌◌◌◌
Operating income $B−0.0−0.0−0.1−0.2−0.2−0.2−0.2−0.2−0.2−0.2−0.1−0.1−0.1−0.0−0.0−0.0−0.0
EBITDA $B−0.0−0.0−0.1−0.2−0.2−0.2−0.2−0.2−0.2−0.2−0.1−0.1−0.1−0.0−0.0◌◌
Income tax $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0◌−0.0
Net income $B−0.0−0.0−0.1−0.2−0.2−0.2−0.2−0.2−0.2−0.2−0.1−0.1−0.1−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0−0.1−0.1−0.2−0.2−0.1−0.2−0.2−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−0.12−0.09−0.80−1.67−2.24−2.50−2.50−2.44−3.65−4.56−2.95−2.87−3.42−1.91−1.96−0.19−0.31
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend—————————————————
ROE %———−399.4−140.5−71.0−52.9−71.4——−107.7−115.7−91.6−69.1−138.4−181.1−147.6
Shares out B0.190.150.150.120.100.090.090.080.060.000.040.030.020.300.200.04◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures in 68 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Nine checks were skipped: revenue is not tagged before 2016. Six checks were skipped: the balance sheet is not tagged before 2010. Four checks were skipped: the share count is not tagged before 2011.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityPharmaceutical Preparations
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2009

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