Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.28M | $30.8M | $77.5M | $146M | $88.6M | $86.3M | $108M | $127M | $144M | $155M |
| Revenue growth | — | 2305.6% | 151.8% | 88.4% | -39.3% | -2.6% | 24.7% | 18.0% | 13.6% | 7.4% |
| Gross profit | — | — | — | — | — | — | $52.8M | $61.9M | $106M | $114M |
| Gross margin | — | — | — | — | — | — | 49.0% | 48.8% | 73.2% | 73.3% |
| Operating income | -$171M | -$195M | -$184M | -$211M | -$228M | -$218M | -$175M | -$111M | -$11.5M | -$2.54M |
| Operating margin | -13363.2% | -632.4% | -237.4% | -144.3% | -257.4% | -252.3% | -162.2% | -87.1% | -8.0% | -1.6% |
| Net income | -$173M | -$197M | -$179M | -$205M | -$227M | -$221M | -$182M | -$111M | -$13.6M | -$20.2M |
| Net margin | -13537.4% | -641.9% | -230.8% | -140.3% | -256.4% | -255.6% | -169.1% | -87.0% | -9.4% | -13.0% |
| EPS (diluted) | -$4.56 | -$3.65 | -$2.44 | -$2.50 | -$2.50 | -$2.24 | -$1.67 | -$0.80 | -$0.09 | -$0.12 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$134M | -$170M | -$192M | -$125M | -$185M | -$203M | -$147M | -$58.8M | -$22.5M | -$27.6M |
| Capital expenditures | $3.13M | $2.55M | $9.17M | $7.15M | $6.81M | $3.02M | $1.82M | $1.54M | $1.71M | $317K |
| Free cash flow | -$137M | -$173M | -$201M | -$132M | -$192M | -$206M | -$149M | -$60.3M | -$24.2M | -$27.9M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $13.4M | $145M | $31.8M | $71.9M | $105M | $90.5M | $15.4M | $28.7M | $25.8M | $28.6M |
| Total assets | $67.5M | $234M | $462M | $513M | $354M | $306M | $251M | $223M | $233M | $256M |
| Total liabilities | $88.7M | $103M | $92.0M | $109M | $117M | $228M | $237M | $256M | $267M | $242M |
| Shareholders' equity | -$21.3M | $131M | $370M | $404M | $236M | $77.6M | $13.6M | -$34.0M | -$33.7M | $14.3M |
| Retained earnings | -$586M | -$783M | -$961M | -$1.17B | -$1.39B | -$1.61B | -$1.80B | -$1.91B | -$1.92B | -$1.94B |
| Shares (wtd avg diluted) | 39.4B | 64.6M | 78.2M | 90.3M | 91.3M | 98.5B | 109M | 138M | 152M | 167M |
Every figure is extracted from HERON THERAPEUTICS, INC. /DE/’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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