Heron Therapeutics (HRTX) Financials

$1.88 -0.04 (-2.08%)

Closing price 05/21/2025 04:00 PM Eastern

Extended Trading

$1.92 +0.04 (+2.07%)

As of 07:58 AM Eastern

Annual Income Statements for Heron Therapeutics

This table shows Heron Therapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	-14	-111	-182
Consolidated Net Income / (Loss)	-14	-111	-182
Net Income / (Loss) Continuing Operations	-14	-111	-182
Total Pre-Tax Income	-14	-111	-182
Total Operating Income	-12	-111	-175
Total Gross Profit	106	62	53
Total Revenue	144	127	108
Operating Revenue	144	127	108
Total Cost of Revenue	39	65	55
Operating Cost of Revenue	39	65	55
Total Operating Expenses	117	173	227
Selling, General & Admin Expense	53	66	62
Marketing Expense	47	68	83
Research & Development Expense	17	39	83
Total Other Income / (Expense), net	-2.05	0.06	-7.37
Interest Expense	6.03	3.87	2.47
Interest & Investment Income	3.55	3.36	1.64
Other Income / (Expense), net	0.43	0.56	-6.53
Basic Earnings per Share	($0.09)	($0.80)	($1.67)
Weighted Average Basic Shares Outstanding	152.45M	138.14M	108.88M
Diluted Earnings per Share	($0.09)	($0.80)	($1.67)
Weighted Average Diluted Shares Outstanding	152.45M	138.14M	108.88M
Weighted Average Basic & Diluted Shares Outstanding	152.33M	150.33M	119.26M

This table shows Heron Therapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	3.66	-4.85	-9.24	-3.16	-11	-25	-42	-33	-20	-42
Consolidated Net Income / (Loss)	3.66	-4.85	-9.24	-3.16	-11	-25	-42	-33	-20	-42
Net Income / (Loss) Continuing Operations	3.66	-4.85	-9.24	-3.16	-11	-25	-42	-33	-20	-42
Total Pre-Tax Income	4.91	-4.46	-9.24	-4.80	-10	-25	-42	-33	-20	-42
Total Operating Income	4.17	-4.46	-6.45	-4.80	-10	-25	-42	-33	-20	-42
Total Gross Profit	31	23	26	26	24	13	12	13	17	12
Total Revenue	41	33	36	35	34	31	32	30	30	27
Operating Revenue	41	33	36	35	34	31	32	30	30	27
Total Cost of Revenue	10	9.46	11	8.44	9.89	18	20	17	13	15
Operating Cost of Revenue	10	9.46	11	8.44	9.89	18	20	17	13	15
Total Operating Expenses	26	28	32	31	35	38	54	46	38	54
Selling, General & Admin Expense	12	12	14	15	14	16	20	16	34	9.80
Marketing Expense	11	11	14	11	12	13	21	21	18	18
Research & Development Expense	3.18	4.47	4.43	4.61	7.80	9.29	13	8.84	-14	26
Total Other Income / (Expense), net	0.74	0.00	-2.79	0.00	0.06	0.00	0.00	0.00	0.46	0.00
Basic Earnings per Share	$0.02	($0.03)	($0.06)	($0.02)	($0.01)	($0.17)	($0.35)	($0.27)	($0.11)	($0.38)
Weighted Average Basic Shares Outstanding	152.45M	152.83M	152.31M	151.20M	138.14M	144.99M	119.72M	119.25M	108.88M	111.74M
Diluted Earnings per Share	$0.02	($0.03)	($0.06)	($0.02)	($0.01)	($0.17)	($0.35)	($0.27)	($0.11)	($0.38)
Weighted Average Diluted Shares Outstanding	152.45M	152.83M	152.31M	151.20M	138.14M	144.99M	119.72M	119.25M	108.88M	111.74M
Weighted Average Basic & Diluted Shares Outstanding	152.33M	152.09M	151.67M	150.65M	150.33M	150.07M	140.76M	119.71M	119.26M	118.89M

This table details how cash moves in and out of Heron Therapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	-2.88	13	-75
Net Cash From Operating Activities	-23	-59	-147
Net Cash From Continuing Operating Activities	-23	-59	-147
Net Income / (Loss) Continuing Operations	-14	-111	-182
Consolidated Net Income / (Loss)	-14	-111	-182
Depreciation Expense	2.49	2.90	2.89
Amortization Expense	-1.18	-1.40	-0.53
Non-Cash Adjustments To Reconcile Net Income	17	33	43
Changes in Operating Assets and Liabilities, net	-28	17	-11
Net Cash From Investing Activities	19	18	-3.32
Net Cash From Continuing Investing Activities	19	18	-3.32
Purchase of Property, Plant & Equipment	-1.71	-1.55	-1.83
Purchase of Investments	-103	-88	-146
Sale of Property, Plant & Equipment	0.03	0.01	0.23
Sale and/or Maturity of Investments	123	107	144
Net Cash From Financing Activities	0.94	54	75
Net Cash From Continuing Financing Activities	0.94	54	75
Repayment of Debt	0.00	24	0.00
Issuance of Common Equity	0.64	31	77
Other Financing Activities, net	0.30	-0.90	-1.53
Cash Interest Paid	4.86	3.06	2.25

This table details how cash moves in and out of Heron Therapeutics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	0.06	7.36	-2.06	-8.23	-6.18	21	-14	12	-35	1.83
Net Cash From Operating Activities	-12	3.37	-4.60	-9.52	2.46	-9.18	-27	-25	-38	-37
Net Cash From Continuing Operating Activities	-12	3.37	-4.60	-9.52	2.46	-9.18	-27	-25	-38	-37
Net Income / (Loss) Continuing Operations	3.66	-4.85	-9.24	-3.16	-11	-25	-42	-33	-20	-42
Consolidated Net Income / (Loss)	3.66	-4.85	-9.24	-3.16	-11	-25	-42	-33	-20	-42
Depreciation Expense	0.58	0.58	0.64	0.69	0.72	0.73	0.74	0.72	0.79	0.71
Amortization Expense	-0.09	-0.17	-0.43	-0.50	-0.40	-0.27	-0.31	-0.42	-0.52	-0.20
Non-Cash Adjustments To Reconcile Net Income	2.41	3.55	7.84	3.55	4.47	6.84	14	8.10	11	11
Changes in Operating Assets and Liabilities, net	-18	4.25	-3.42	-10	8.40	8.53	0.39	-0.53	-29	-6.88
Net Cash From Investing Activities	11	3.97	2.05	1.28	-8.84	-23	13	37	2.02	-36
Net Cash From Continuing Investing Activities	11	3.97	2.05	1.28	-8.84	-23	13	37	2.02	-36
Purchase of Property, Plant & Equipment	-0.64	-0.43	-0.64	0.00	-0.25	-0.79	-0.28	-0.22	-0.41	-0.05
Purchase of Investments	-12	-26	-27	-38	-23	-36	-14	-14	-19	-68
Sale of Property, Plant & Equipment	0.03	-	-	0.00	0.01	-	-	0.00	0.00	0.17
Sale and/or Maturity of Investments	24	30	30	39	15	14	28	51	21	32
Net Cash From Financing Activities	0.42	0.01	0.49	0.01	0.20	54	0.32	-0.21	0.44	75
Net Cash From Continuing Financing Activities	0.42	0.01	0.49	0.01	0.20	54	0.32	-0.21	0.44	75
Issuance of Common Equity	0.46	-	0.18	0.00	0.20	30	0.70	0.00	0.65	75
Other Financing Activities, net	-0.04	0.01	0.32	0.01	-0.00	-0.31	-0.39	-0.21	-0.22	-0.22
Cash Interest Paid	1.77	0.66	1.78	0.65	1.77	0.16	1.13	0.00	1.13	-

This table presents Heron Therapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	233	223	251
Total Current Assets	209	189	205
Cash & Equivalents	26	29	15
Short-Term Investments	33	52	69
Accounts Receivable	79	60	52
Inventories, net	53	42	55
Prepaid Expenses	18	6.12	14
Plant, Property, & Equipment, net	15	20	22
Total Noncurrent Assets	9.27	14	23
Other Noncurrent Operating Assets	9.27	14	23
Total Liabilities & Shareholders' Equity	233	223	251
Total Liabilities	267	256	237
Total Current Liabilities	91	80	82
Accounts Payable	12	3.24	3.23
Accrued Expenses	67	64	63
Current Employee Benefit Liabilities	9.55	9.22	13
Other Current Liabilities	3.04	3.08	2.69
Total Noncurrent Liabilities	175	177	155
Long-Term Debt	150	174	149
Other Noncurrent Operating Liabilities	26	3.04	5.74
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-34	-34	14
Total Preferred & Common Equity	-34	-34	14
Preferred Stock	0.00	0.00	0.00
Total Common Equity	-34	-34	14
Common Stock	1,886	1,872	1,809
Retained Earnings	-1,920	-1,906	-1,795
Accumulated Other Comprehensive Income / (Loss)	0.01	0.01	-0.02

This table presents Heron Therapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	221	218	218	229	201	221	272
Total Current Assets	195	191	186	194	165	178	224
Cash & Equivalents	26	18	20	35	13	27	50
Short-Term Investments	45	49	51	43	20	33	71
Accounts Receivable	67	74	65	64	77	51	42
Inventories, net	46	43	42	42	45	52	52
Prepaid Expenses	11	7.25	6.58	11	11	15	7.63
Plant, Property, & Equipment, net	15	16	19	21	21	22	23
Total Noncurrent Assets	10	11	13	14	15	21	26
Other Noncurrent Operating Assets	10	11	13	14	15	21	26
Total Liabilities & Shareholders' Equity	221	218	218	229	201	221	272
Total Liabilities	261	256	252	257	241	232	250
Total Current Liabilities	86	80	75	80	87	78	94
Accounts Payable	10	10	0.84	1.86	1.96	4.07	6.55
Accrued Expenses	64	60	64	65	72	62	70
Current Employee Benefit Liabilities	8.53	7.09	7.65	10	9.86	9.51	15
Other Current Liabilities	3.25	3.19	3.14	3.00	2.58	2.76	2.62
Total Noncurrent Liabilities	175	176	176	177	154	154	156
Long-Term Debt	174	174	174	173	149	149	149
Other Noncurrent Operating Liabilities	0.76	1.53	2.29	3.78	4.40	5.07	0.24
Total Equity & Noncontrolling Interests	-40	-38	-34	-28	-39	-11	22
Total Preferred & Common Equity	-40	-38	-34	-28	-39	-11	22
Total Common Equity	-40	-38	-34	-28	-39	-11	22
Common Stock	1,883	1,880	1,875	1,868	1,831	1,817	1,798
Retained Earnings	-1,923	-1,918	-1,909	-1,895	-1,870	-1,828	-1,776
Accumulated Other Comprehensive Income / (Loss)	0.04	-0.01	-0.01	-0.00	-0.01	0.01	-0.06

This table displays calculated financial ratios and metrics derived from Heron Therapeutics' official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	13.57%	17.99%	24.70%
EBITDA Growth	90.98%	39.30%	16.61%
EBIT Growth	89.92%	39.26%	17.15%
NOPAT Growth	89.58%	36.67%	19.82%
Net Income Growth	87.72%	39.26%	17.52%
EPS Growth	88.75%	52.10%	25.45%
Operating Cash Flow Growth	61.68%	59.98%	27.76%
Free Cash Flow Firm Growth	90.71%	55.18%	32.22%
Invested Capital Growth	-4.39%	-23.89%	12.93%
Revenue Q/Q Growth	4.75%	3.42%	9.54%
EBITDA Q/Q Growth	60.52%	9.00%	12.68%
EBIT Q/Q Growth	57.19%	8.86%	12.82%
NOPAT Q/Q Growth	55.53%	8.39%	15.97%
Net Income Q/Q Growth	51.44%	7.64%	16.04%
EPS Q/Q Growth	25.00%	11.11%	20.10%
Operating Cash Flow Q/Q Growth	-171.63%	40.48%	5.00%
Free Cash Flow Firm Q/Q Growth	59.40%	39.20%	3.90%
Invested Capital Q/Q Growth	-10.72%	-13.03%	39.07%
Profitability Metrics	-	-	-
Gross Margin	73.21%	48.75%	49.04%
EBITDA Margin	-6.78%	-85.45%	-166.09%
Operating Margin	-7.99%	-87.07%	-162.21%
EBIT Margin	-7.69%	-86.63%	-168.28%
Profit (Net Income) Margin	-9.41%	-87.02%	-169.05%
Tax Burden Percent	100.00%	100.00%	100.00%
Interest Burden Percent	122.36%	100.46%	100.46%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-13.90%	-112.73%	-166.26%
ROIC Less NNEP Spread (ROIC-NNEP)	-19.89%	-154.72%	-379.95%
Return on Net Nonoperating Assets (RNNOA)	54.06%	1,196.59%	-233.17%
Return on Equity (ROE)	40.16%	1,083.86%	-399.43%
Cash Return on Invested Capital (CROIC)	-9.41%	-85.60%	-178.40%
Operating Return on Assets (OROA)	-4.87%	-46.49%	-65.10%
Return on Assets (ROA)	-5.96%	-46.70%	-65.40%
Return on Common Equity (ROCE)	40.16%	1,083.86%	-399.43%
Return on Equity Simple (ROE_SIMPLE)	40.36%	325.43%	-1,341.17%
Net Operating Profit after Tax (NOPAT)	-8.07	-77	-122
NOPAT Margin	-5.59%	-60.95%	-113.55%
Net Nonoperating Expense Percent (NNEP)	6.00%	41.99%	213.69%
Return On Investment Capital (ROIC_SIMPLE)	-6.95%	-55.39%	-75.07%
Cost of Revenue to Revenue	26.79%	51.25%	50.96%
SG&A Expenses to Revenue	37.01%	51.78%	57.80%
R&D to Revenue	11.56%	30.80%	76.81%
Operating Expenses to Revenue	81.20%	135.82%	211.25%
Earnings before Interest and Taxes (EBIT)	-11	-110	-181
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-9.79	-109	-179
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.00	0.00	21.90
Price to Tangible Book Value (P/TBV)	0.00	0.00	21.90
Price to Revenue (P/Rev)	1.61	2.01	2.76
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.69	5.87	4.64
Enterprise Value to Revenue (EV/Rev)	2.24	2.74	3.36
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	-4.45	-5.11	11.00
Long-Term Debt to Equity	-4.45	-5.11	11.00
Financial Leverage	-2.72	-7.73	0.61
Leverage Ratio	-6.74	-23.21	6.11
Compound Leverage Factor	-8.25	-23.31	6.14
Debt to Total Capital	129.00%	124.30%	91.67%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	129.00%	124.30%	91.67%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	-29.00%	-24.30%	8.33%
Debt to EBITDA	-15.29	-1.60	-0.83
Net Debt to EBITDA	-9.24	-0.86	-0.36
Long-Term Debt to EBITDA	-15.29	-1.60	-0.83
Debt to NOPAT	-18.55	-2.24	-1.22
Net Debt to NOPAT	-11.20	-1.21	-0.53
Long-Term Debt to NOPAT	-18.55	-2.24	-1.22
Altman Z-Score	-9.94	-11.87	-10.63
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	2.29	2.37	2.49
Quick Ratio	1.51	1.76	1.66
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-5.46	-59	-131
Operating Cash Flow to CapEx	-1,341.81%	-3,837.40%	-9,193.49%
Free Cash Flow to Firm to Interest Expense	-0.91	-15.20	-53.03
Operating Cash Flow to Interest Expense	-3.73	-15.20	-59.38
Operating Cash Flow Less CapEx to Interest Expense	-4.01	-15.59	-60.03
Efficiency Ratios	-	-	-
Asset Turnover	0.63	0.54	0.39
Accounts Receivable Turnover	2.08	2.26	2.46
Inventory Turnover	0.81	1.35	1.07
Fixed Asset Turnover	8.24	6.00	4.69
Accounts Payable Turnover	5.17	20.14	15.62
Days Sales Outstanding (DSO)	175.84	161.16	148.39
Days Inventory Outstanding (DIO)	449.88	271.02	342.41
Days Payable Outstanding (DPO)	70.59	18.12	23.37
Cash Conversion Cycle (CCC)	555.12	414.05	467.42
Capital & Investment Metrics	-	-	-
Invested Capital	57	59	78
Invested Capital Turnover	2.48	1.85	1.46
Increase / (Decrease) in Invested Capital	-2.61	-19	8.93
Enterprise Value (EV)	323	348	362
Market Capitalization	233	255	297
Book Value per Share	($0.22)	($0.23)	$0.11
Tangible Book Value per Share	($0.22)	($0.23)	$0.11
Total Capital	116	140	163
Total Debt	150	174	149
Total Long-Term Debt	150	174	149
Net Debt	90	93	64
Capital Expenditures (CapEx)	1.68	1.53	1.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)	58	29	38
Debt-free Net Working Capital (DFNWC)	118	109	123
Net Working Capital (NWC)	118	109	123
Net Nonoperating Expense (NNE)	5.51	33	60
Net Nonoperating Obligations (NNO)	90	93	64
Total Depreciation and Amortization (D&A)	1.31	1.50	2.36
Debt-free, Cash-free Net Working Capital to Revenue	40.39%	22.57%	35.50%
Debt-free Net Working Capital to Revenue	81.48%	85.87%	114.31%
Net Working Capital to Revenue	81.48%	85.87%	114.31%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.09)	($0.80)	($1.67)
Adjusted Weighted Average Basic Shares Outstanding	152.45M	138.14M	108.88M
Adjusted Diluted Earnings per Share	($0.09)	($0.80)	($1.67)
Adjusted Weighted Average Diluted Shares Outstanding	152.45M	138.14M	108.88M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	152.33M	150.33M	119.26M
Normalized Net Operating Profit after Tax (NOPAT)	-8.07	-77	-122
Normalized NOPAT Margin	-5.59%	-60.95%	-113.55%
Pre Tax Income Margin	-9.41%	-87.02%	-169.05%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-1.84	-28.45	-73.24
NOPAT to Interest Expense	-1.34	-20.02	-49.42
EBIT Less CapEx to Interest Expense	-2.12	-28.85	-73.88
NOPAT Less CapEx to Interest Expense	-1.62	-20.41	-50.06
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Heron Therapeutics' official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.13%	4.38%	13.42%	17.07%	14.00%	18.36%	14.95%	26.25%	45.38%	14.32%
EBITDA Growth	147.08%	83.48%	78.50%	85.94%	50.68%	40.87%	24.58%	48.00%	61.16%	19.71%
EBIT Growth	140.83%	82.12%	78.22%	85.49%	49.79%	40.48%	24.76%	48.25%	61.35%	20.08%
NOPAT Growth	158.33%	82.12%	84.80%	85.49%	49.79%	40.48%	14.33%	47.45%	61.98%	19.00%
Net Income Growth	134.16%	80.61%	78.04%	90.36%	46.03%	40.33%	25.37%	48.71%	63.64%	20.04%
EPS Growth	300.00%	82.35%	82.86%	92.59%	90.91%	55.26%	36.36%	57.14%	79.25%	25.49%
Operating Cash Flow Growth	-579.84%	136.73%	83.05%	61.78%	106.54%	75.24%	4.26%	43.33%	17.07%	30.28%
Free Cash Flow Firm Growth	-40.95%	105.28%	106.10%	114.62%	149.52%	-45.57%	-64.66%	47.20%	70.49%	75.26%
Invested Capital Growth	-4.39%	-6.86%	-10.30%	-11.79%	-23.89%	21.71%	51.63%	27.30%	12.93%	-13.78%
Revenue Q/Q Growth	24.29%	-8.92%	3.91%	1.28%	8.90%	-1.03%	7.25%	-1.38%	13.07%	-3.88%
EBITDA Q/Q Growth	215.38%	55.19%	-95.85%	53.50%	59.50%	41.71%	-28.09%	-63.12%	51.45%	25.64%
EBIT Q/Q Growth	193.61%	51.73%	-92.48%	53.05%	59.00%	41.21%	-28.25%	-62.43%	51.40%	25.69%
NOPAT Q/Q Growth	233.72%	30.83%	-34.33%	53.05%	59.00%	41.21%	-28.25%	-62.43%	51.40%	15.39%
Net Income Q/Q Growth	175.56%	47.50%	-192.25%	70.53%	57.12%	40.54%	-28.35%	-64.92%	52.59%	25.64%
EPS Q/Q Growth	166.67%	50.00%	-200.00%	-100.00%	94.12%	51.43%	-29.63%	-145.45%	71.05%	30.91%
Operating Cash Flow Q/Q Growth	-449.45%	173.22%	51.62%	-487.62%	126.75%	66.21%	-9.10%	33.66%	-1.26%	-30.64%
Free Cash Flow Firm Q/Q Growth	333.54%	-54.09%	-41.55%	-83.70%	138.75%	46.96%	-40.17%	-71.90%	-13.90%	40.00%
Invested Capital Q/Q Growth	-10.72%	-7.78%	0.35%	95.68%	-13.03%	-11.18%	-1.32%	-0.15%	39.07%	10.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	74.92%	71.17%	70.80%	75.64%	71.12%	42.08%	36.53%	43.09%	57.95%	44.58%
EBITDA Margin	11.44%	-12.32%	-25.05%	-13.29%	-28.94%	-77.84%	-132.15%	-110.65%	-66.90%	-155.81%
Operating Margin	10.23%	-13.59%	-17.89%	-13.84%	-29.85%	-79.31%	-133.50%	-111.64%	-67.79%	-157.71%
EBIT Margin	10.23%	-13.59%	-25.64%	-13.84%	-29.85%	-79.31%	-133.50%	-111.64%	-67.79%	-157.71%
Profit (Net Income) Margin	8.98%	-14.78%	-25.64%	-9.11%	-31.33%	-79.56%	-132.42%	-110.65%	-66.17%	-157.80%
Tax Burden Percent	74.59%	108.75%	100.00%	65.86%	105.51%	100.32%	99.19%	99.11%	99.87%	100.06%
Interest Burden Percent	117.69%	100.00%	100.00%	100.00%	99.45%	100.00%	100.00%	100.00%	97.74%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	25.43%	-19.87%	-23.43%	-17.46%	-38.65%	-109.68%	-172.86%	-127.94%	-69.48%	-179.15%
ROIC Less NNEP Spread (ROIC-NNEP)	24.87%	-21.60%	-27.66%	-17.25%	-43.18%	-121.33%	-185.99%	-143.15%	-89.57%	-54.18%
Return on Net Nonoperating Assets (RNNOA)	-67.58%	63.62%	79.89%	73.21%	333.93%	2,948.91%	574.74%	-1,445.72%	-54.97%	7.73%
Return on Equity (ROE)	-42.16%	43.75%	56.46%	55.75%	295.28%	2,839.23%	401.88%	-1,573.66%	-124.45%	-171.43%
Cash Return on Invested Capital (CROIC)	-9.41%	-20.42%	-33.69%	-66.12%	-85.60%	-155.53%	-192.19%	-169.80%	-178.40%	-225.39%
Operating Return on Assets (OROA)	6.48%	-8.32%	-16.67%	-8.33%	-16.02%	-38.88%	-70.75%	-51.39%	-26.22%	-49.66%
Return on Assets (ROA)	5.69%	-9.05%	-16.67%	-5.49%	-16.81%	-39.00%	-70.17%	-50.93%	-25.60%	-49.69%
Return on Common Equity (ROCE)	-42.16%	43.75%	56.46%	55.75%	295.28%	2,839.23%	401.88%	-1,573.66%	-124.45%	-171.43%
Return on Equity Simple (ROE_SIMPLE)	0.00%	69.91%	126.85%	239.74%	0.00%	430.81%	347.73%	1,320.36%	0.00%	-965.71%
Net Operating Profit after Tax (NOPAT)	4.17	-3.12	-4.51	-3.36	-7.15	-17	-30	-23	-14	-29
NOPAT Margin	10.23%	-9.51%	-12.52%	-9.69%	-20.90%	-55.51%	-93.45%	-78.15%	-47.45%	-110.39%
Net Nonoperating Expense Percent (NNEP)	0.56%	1.73%	4.24%	-0.21%	4.53%	11.66%	13.13%	15.21%	20.10%	-124.97%
Return On Investment Capital (ROIC_SIMPLE)	3.60%	-	-	-	-5.12%	-	-	-	-8.75%	-
Cost of Revenue to Revenue	25.08%	28.83%	29.20%	24.36%	28.88%	57.92%	63.47%	56.91%	42.05%	55.42%
SG&A Expenses to Revenue	29.78%	37.71%	38.60%	43.19%	42.18%	50.63%	61.68%	53.47%	112.32%	36.90%
R&D to Revenue	7.79%	13.61%	12.30%	13.29%	22.79%	29.54%	41.59%	29.84%	-45.77%	96.19%
Operating Expenses to Revenue	64.69%	84.76%	88.69%	89.48%	100.98%	121.38%	170.04%	154.73%	125.74%	202.29%
Earnings before Interest and Taxes (EBIT)	4.17	-4.46	-9.24	-4.80	-10	-25	-42	-33	-20	-42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4.67	-4.04	-9.02	-4.61	-9.91	-24	-42	-33	-20	-41
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	21.90	19.29
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	21.90	19.29
Price to Revenue (P/Rev)	1.61	2.19	3.87	3.15	2.01	1.18	1.18	1.58	2.76	4.41
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.69	6.38	9.20	7.55	5.87	3.53	3.32	3.46	4.64	8.32
Enterprise Value to Revenue (EV/Rev)	2.24	2.94	4.65	3.93	2.74	1.96	2.16	2.37	3.36	4.75
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-4.45	-4.36	-4.59	-5.15	-5.11	-6.24	-3.80	-13.07	11.00	6.92
Long-Term Debt to Equity	-4.45	-4.36	-4.59	-5.15	-5.11	-6.24	-3.80	-13.07	11.00	6.92
Financial Leverage	-2.72	-2.94	-2.89	-4.24	-7.73	-24.30	-3.09	10.10	0.61	-0.14
Leverage Ratio	-6.74	-6.64	-5.43	-9.71	-23.21	-93.92	-7.30	39.48	6.11	4.42
Compound Leverage Factor	-7.93	-6.64	-5.43	-9.71	-23.08	-93.92	-7.30	39.48	5.97	4.42
Debt to Total Capital	129.00%	129.75%	127.84%	124.08%	124.30%	119.07%	135.68%	108.29%	91.67%	87.38%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	129.00%	129.75%	127.84%	124.08%	124.30%	119.07%	135.68%	108.29%	91.67%	87.38%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-29.00%	-29.75%	-27.84%	-24.08%	-24.30%	-19.07%	-35.68%	-8.29%	8.33%	12.62%
Debt to EBITDA	-15.29	-7.04	-3.85	-2.15	-1.60	-1.45	-1.10	-1.04	-0.83	-0.76
Net Debt to EBITDA	-9.24	-4.18	-2.36	-1.27	-0.86	-0.81	-0.85	-0.62	-0.36	-0.16
Long-Term Debt to EBITDA	-15.29	-7.04	-3.85	-2.15	-1.60	-1.45	-1.10	-1.04	-0.83	-0.76
Debt to NOPAT	-18.55	-9.62	-5.37	-3.02	-2.24	-2.05	-1.55	-1.47	-1.22	-1.07
Net Debt to NOPAT	-11.20	-5.71	-3.29	-1.78	-1.21	-1.14	-1.20	-0.88	-0.53	-0.23
Long-Term Debt to NOPAT	-18.55	-9.62	-5.37	-3.02	-2.24	-2.05	-1.55	-1.47	-1.22	-1.07
Altman Z-Score	-9.72	-10.35	-9.98	-10.13	-10.39	-10.46	-12.31	-10.56	-8.52	-7.67
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.29	2.28	2.38	2.47	2.37	2.43	1.91	2.29	2.49	2.38
Quick Ratio	1.51	1.61	1.76	1.82	1.76	1.77	1.27	1.43	1.66	1.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6.78	1.56	3.41	5.83	11	-30	-56	-40	-23	-20
Operating Cash Flow to CapEx	-1,927.99%	782.13%	-722.76%	0.00%	1,035.87%	-1,157.50%	-9,771.58%	-11,116.07%	-9,132.36%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.63	0.61	0.65	0.60	0.54	0.49	0.53	0.46	0.39	0.31
Accounts Receivable Turnover	2.08	2.11	1.81	2.26	2.26	2.32	2.02	2.46	2.46	2.31
Inventory Turnover	0.81	0.87	1.08	1.20	1.35	1.44	1.21	1.11	1.07	1.13
Fixed Asset Turnover	8.24	7.61	7.42	6.47	6.00	5.66	5.32	5.02	4.69	4.33
Accounts Payable Turnover	5.17	6.36	7.72	23.13	20.14	16.14	8.17	9.82	15.62	8.56
Days Sales Outstanding (DSO)	175.84	173.35	201.29	161.32	161.16	157.46	181.01	148.38	148.39	158.32
Days Inventory Outstanding (DIO)	449.88	419.06	339.31	304.30	271.02	253.51	300.43	328.07	342.41	321.65
Days Payable Outstanding (DPO)	70.59	57.40	47.25	15.78	18.12	22.61	44.69	37.15	23.37	42.66
Cash Conversion Cycle (CCC)	555.12	535.01	493.35	449.84	414.05	388.35	436.74	439.30	467.42	437.31
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	57	64	69	69	59	68	77	78	78	56
Invested Capital Turnover	2.48	2.09	1.87	1.80	1.85	1.98	1.85	1.64	1.46	1.62
Increase / (Decrease) in Invested Capital	-2.61	-4.68	-7.92	-9.19	-19	12	26	17	8.93	-8.97
Enterprise Value (EV)	323	405	634	519	348	241	255	269	362	467
Market Capitalization	233	302	527	416	255	145	139	180	297	433
Book Value per Share	($0.22)	($0.26)	($0.25)	($0.22)	($0.23)	($0.20)	($0.33)	($0.10)	$0.11	$0.22
Tangible Book Value per Share	($0.22)	($0.26)	($0.25)	($0.22)	($0.23)	($0.20)	($0.33)	($0.10)	$0.11	$0.22
Total Capital	116	134	136	140	140	146	110	138	163	178
Total Debt	150	174	174	174	174	173	149	149	149	155
Total Long-Term Debt	150	174	174	174	174	173	149	149	149	155
Net Debt	90	104	107	102	93	96	116	89	64	34
Capital Expenditures (CapEx)	0.61	0.43	0.64	0.00	0.24	0.79	0.28	0.22	0.41	-0.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	58	39	44	39	29	37	45	40	38	8.18
Debt-free Net Working Capital (DFNWC)	118	110	111	111	109	114	79	100	123	130
Net Working Capital (NWC)	118	110	111	111	109	114	79	100	123	130
Net Nonoperating Expense (NNE)	0.51	1.73	4.72	-0.20	3.57	7.56	12	9.62	5.62	13
Net Nonoperating Obligations (NNO)	90	104	107	102	93	96	116	89	64	34
Total Depreciation and Amortization (D&A)	0.49	0.42	0.21	0.19	0.31	0.46	0.43	0.30	0.27	0.50
Debt-free, Cash-free Net Working Capital to Revenue	40.39%	28.14%	31.90%	29.52%	22.57%	29.98%	38.41%	35.35%	35.50%	8.32%
Debt-free Net Working Capital to Revenue	81.48%	79.60%	81.29%	83.67%	85.87%	92.99%	66.60%	88.08%	114.31%	132.18%
Net Working Capital to Revenue	81.48%	79.60%	81.29%	83.67%	85.87%	92.99%	66.60%	88.08%	114.31%	132.18%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.02	($0.03)	($0.06)	($0.02)	($0.01)	($0.17)	($0.35)	($0.27)	($0.11)	($0.38)
Adjusted Weighted Average Basic Shares Outstanding	152.45M	152.83M	152.31M	151.20M	138.14M	144.99M	119.72M	119.25M	108.88M	111.74M
Adjusted Diluted Earnings per Share	$0.02	($0.03)	($0.06)	($0.02)	($0.01)	($0.17)	($0.35)	($0.27)	($0.11)	($0.38)
Adjusted Weighted Average Diluted Shares Outstanding	152.45M	152.83M	152.31M	151.20M	138.14M	144.99M	119.72M	119.25M	108.88M	111.74M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	152.33M	152.09M	151.67M	150.65M	150.33M	150.07M	140.76M	119.71M	119.26M	118.89M
Normalized Net Operating Profit after Tax (NOPAT)	2.92	-3.12	-4.51	-3.36	-7.15	-17	-30	-23	-14	-29
Normalized NOPAT Margin	7.16%	-9.51%	-12.52%	-9.69%	-20.90%	-55.51%	-93.45%	-78.15%	-47.45%	-110.39%
Pre Tax Income Margin	12.04%	-13.59%	-25.64%	-13.84%	-29.69%	-79.31%	-133.50%	-111.64%	-66.25%	-157.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Heron Therapeutics' Financials

When does Heron Therapeutics's fiscal year end?

According to the most recent income statement we have on file, Heron Therapeutics' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Heron Therapeutics' net income changed over the last 2 years?

Heron Therapeutics' net income appears to be on a downward trend, with a most recent value of -$13.58 million in 2024, falling from -$182.02 million in 2022. The previous period was -$110.56 million in 2023. View Heron Therapeutics' forecast to see where analysts expect Heron Therapeutics to go next.

What is Heron Therapeutics's operating income?

Heron Therapeutics's total operating income in 2024 was -$11.53 million, based on the following breakdown:

Total Gross Profit: $105.64 million
Total Operating Expenses: $117.17 million

How has Heron Therapeutics revenue changed over the last 2 years?

Over the last 2 years, Heron Therapeutics' total revenue changed from $107.67 million in 2022 to $144.29 million in 2024, a change of 34.0%.

How much debt does Heron Therapeutics have?

Heron Therapeutics' total liabilities were at $266.80 million at the end of 2024, a 4.0% increase from 2023, and a 12.4% increase since 2022.

How much cash does Heron Therapeutics have?

In the past 2 years, Heron Therapeutics' cash and equivalents has ranged from $15.36 million in 2022 to $28.68 million in 2023, and is currently $25.80 million as of their latest financial filing in 2024.

How has Heron Therapeutics' book value per share changed over the last 2 years?

Over the last 2 years, Heron Therapeutics' book value per share changed from 0.11 in 2022 to -0.22 in 2024, a change of -293.8%.

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This page (NASDAQ:HRTX) was last updated on 5/22/2025 by MarketBeat.com Staff

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Heron Therapeutics (HRTX) Financials

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Heron Therapeutics (HRTX) Financials

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