15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $155M | -$20M | 73.3% | -1.6% | -139.5% | -7.8% | -$28M | — | $29M |
| 2024 | $144M | -$14M | 73.2% | -8.0% | 41.6% | -6.0% | -$24M | — | $26M |
| 2023 | $127M | -$111M | 48.8% | -87.1% | 326.7% | -49.9% | -$60M | — | $29M |
| 2022 | $108M | -$182M | 49.0% | -162.2% | -1341.0% | -72.5% | -$149M | — | $15M |
| 2021 | $86M | -$221M | 46.7% | -252.3% | -284.9% | -72.3% | -$206M | — | $91M |
| 2020 | $89M | -$227M | 59.2% | -257.4% | -96.1% | -64.3% | -$192M | — | $105M |
| 2019 | $146M | -$205M | 57.8% | -144.3% | -50.7% | -39.9% | -$132M | — | $72M |
| 2018 | $77M | -$179M | 64.5% | -237.4% | -48.3% | -38.7% | -$201M | — | $32M |
| 2017 | $31M | -$197M | 85.1% | -632.4% | -150.6% | -84.3% | -$173M | — | $145M |
| 2016 | $1M | -$173M | 97.3% | -13363.2% | 814.8% | -256.6% | -$137M | — | $13M |
| 2015 | — | -$98M | — | — | -82.6% | -70.8% | -$80M | — | $75M |
| 2014 | — | -$76M | — | — | -121.1% | -99.6% | -$62M | — | $73M |
| 2013 | — | -$55M | — | — | -80.2% | -72.8% | -$42M | — | $72M |
| 2012 | — | -$23M | — | — | -45.1% | -41.7% | -$18M | — | $54M |
| 2011 | — | -$12M | — | — | -75.0% | -60.8% | -$8M | — | $18M |
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $38M | -$5M | 69.3% | -5.4% | -79.5% | -2.2% | -$2M | — | $21M |
| Mar '26 | $35M | -$8M | 69.4% | -13.7% | -88.8% | -3.3% | -$2M | — | $26M |
| Dec '25 | $41M | -$3M | 72.6% | 0.1% | -20.6% | -1.2% | -$9M | — | $29M |
| Sep '25 | $38M | -$17M | 68.8% | -10.7% | -117.5% | -7.0% | $1M | — | $43M |
| Jun '25 | $37M | -$2M | 73.5% | -4.4% | 8.7% | -1.0% | -$11M | — | $17M |
| Mar '25 | $39M | $3M | 78.3% | 8.1% | -9.3% | 1.1% | -$9M | — | $19M |
| Dec '24 | $41M | $4M | 74.9% | 10.2% | -10.9% | 1.6% | -$12M | — | $26M |
| Sep '24 | $33M | -$5M | 71.2% | -13.6% | 12.1% | -2.2% | $3M | — | $26M |
| Jun '24 | $36M | -$9M | 70.8% | -17.9% | 24.3% | -4.2% | — | — | $18M |
| Mar '24 | $35M | -$3M | 75.6% | -13.8% | 9.4% | -1.5% | — | — | $20M |
| Dec '23 | $34M | -$11M | 71.1% | -29.9% | 31.6% | -4.8% | $2M | — | $29M |
| Sep '23 | $31M | -$25M | 42.1% | -79.3% | 90.0% | -10.9% | -$10M | — | $35M |
| Jun '23 | $32M | -$42M | 36.5% | -133.5% | 107.1% | -20.9% | -$27M | — | $13M |
| Mar '23 | $30M | -$33M | 43.1% | -111.6% | 286.7% | -14.8% | -$25M | — | $27M |
| Dec '22 | $30M | -$20M | 57.9% | -67.8% | -146.4% | -7.9% | -$38M | — | $15M |
| Sep '22 | $27M | -$42M | 44.6% | -157.7% | -186.7% | -15.4% | -$37M | — | $50M |
| Jun '22 | $28M | -$56M | 41.5% | -179.1% | 259.3% | -23.1% | -$29M | — | $49M |
| Mar '22 | $23M | -$64M | 51.6% | -268.2% | -266.7% | -23.3% | -$45M | — | $57M |
| Dec '21 | $21M | -$55M | 47.0% | -259.2% | -70.4% | -17.9% | -$46M | — | $91M |
| Sep '21 | $23M | -$52M | 51.1% | -222.6% | -44.1% | -14.9% | -$55M | — | $160M |
How the market has priced HRTX against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, HERON THERAPEUTICS, INC. /DE/'s revenue has grown 11.8% per year. These are computed facts, not advice.
As of FY2025, HERON THERAPEUTICS, INC. /DE/ reported — of total debt against $29M of cash; operating income covered interest expense -0.3×.
In FY2025, gross margin was 73.3%, operating margin -1.6%, and net margin -12.9%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.