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Heron Therapeutics (HRTX) Financials

Heron Therapeutics logo
$0.87 0.00 (-0.14%)
As of 01:01 PM Eastern
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Annual Income Statements for Heron Therapeutics

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

Quarterly Income Statements for Heron Therapeutics

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

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

Annual Cash Flow Statements for Heron Therapeutics

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

Quarterly Cash Flow Statements for Heron Therapeutics

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

Annual Balance Sheets for Heron Therapeutics

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

Quarterly Balance Sheets for Heron Therapeutics

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

Annual Metrics And Ratios for Heron Therapeutics

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

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

Quarterly Metrics And Ratios for Heron Therapeutics

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

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

Financials Breakdown Chart

Key Financial Trends

Key takeaways from Heron Therapeutics, Inc. (HRTX) across the last four quarters

  • Q4 2024: Revenue of $40.8 million and gross profit of $30.6 million yield a gross margin near 75%, signaling strong margin progression within the year.
  • Q4 2024: Net income attributable to common shareholders rose to $3.66 million with basic/diluted earnings per share of $0.02, marking a positive quarterly bottom line after several negative quarters.
  • Q4 2024: Operating income turned positive at $4.17 million, a swing from the operating losses seen in earlier 2024 quarters and indicating improving operating leverage.
  • Q4 2024: Total operating expenses were $26.38 million, down modestly from Q3 2024, contributing to the margin expansion that supported the quarterly profit rebound.
  • Q4 2024: Cash flow from investing activities produced a net inflow of about $11.42 million, driven by $24.37 million from the sale/maturity of investments, aiding liquidity.
  • Liquidity appears solid on the balance sheet, with total current assets around $195 million and total current liabilities around $85.5 million in Q3 2024, yielding a current ratio near 2.3x.
  • Total assets (~$221 million) and total current assets growth over 2024 suggest a modest liquidity cushion, but liabilities (~$261 million) remain substantially higher than assets, underscoring continued leverage concerns.
  • Long-term debt remains elevated at roughly $174.5 million in Q3 2024, contributing to a sizable liability load alongside negative equity, which weighs on balance-sheet strength.
  • Shareholder equity is negative, with total equity around -$40 million in Q3 2024, reflecting accumulated deficits despite a large common stock base and ongoing negative retained earnings.
  • Operating cash flow has been negative across multiple quarters in 2024 (e.g., Q1–Q3), indicating ongoing cash burn from operations despite positive quarterly net income in Q4 2024; the company remains reliant on investing and financing activity to manage liquidity.
05/22/26 01:02 PM ETAI Generated. May Contain Errors.

Heron Therapeutics Financials - Frequently Asked Questions

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

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. Check out Heron Therapeutics' forecast to explore projected trends and price targets.

Heron Therapeutics' 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

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%.

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.

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.

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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Financial statements for NASDAQ:HRTX last updated on 4/6/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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