HERON THERAPEUTICS, INC.HRTXEarnings & Financial Report
Antibe Therapeutics was a Toronto-based pharmaceutical company that develops pain and inflammation-reducing drugs based on gaseous mediator technology. Antibe was founded by John L. Wallace, also a co-founder of NicOx, the first company to develop drugs utilizing gaseous mediators. Founded in 2009, the company listed on the TSX Venture Exchange in 2013 and was moved to the Toronto Stock Exchange in November 2020. In 2015, Antibe acquired Citagenix, a distributor involved in regenerative medic...
Revenue
$37.2M
Gross Profit
$27.3M
Operating Profit
$-1.6M
Net Profit
$-2.4M
Gross Margin
73.5%
Operating Margin
-4.4%
Net Margin
-6.4%
YoY Growth
3.3%
EPS
$-0.02
HERON THERAPEUTICS, INC. Q2 FY2025 Financial Summary
HERON THERAPEUTICS, INC. reported revenue of $37.2M (up 3.3% YoY) for Q2 FY2025, with a net profit of $-2.4M (up 74.2% YoY) (-6.4% margin). Cost of goods sold was $9.9M, operating expenses totaled $29.0M.
Key Financial Metrics
| Total Revenue | $37.2M |
|---|---|
| Net Profit | $-2.4M |
| Gross Margin | 73.5% |
| Operating Margin | -4.4% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
HERON THERAPEUTICS, INC. Q2 FY2025 revenue of $37.2M breaks down across 4 segments, led by CINVANTI at $24.1M (64.9% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| CINVANTI | $24.1M | 64.9% |
| ZYNRELEF | $8.2M | 22.0% |
| Aponvie | $2.5M | 6.6% |
| Other | $2.4M | 6.5% |
HERON THERAPEUTICS, INC. Revenue by Segment — Quarterly Trend
HERON THERAPEUTICS, INC. revenue by segment across the last 4 reported quarters, showing how each business line (such as CINVANTI and ZYNRELEF) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| CINVANTI | $22.9M | $24.0M | $24.1M | $25.7M |
| ZYNRELEF | $12.5M | $9.3M | $8.2M | $8.0M |
| Aponvie | $3.8M | $3.0M | $2.5M | $2.3M |
| Other | — | — | $2.4M | — |
HERON THERAPEUTICS, INC. Annual Revenue by Year
HERON THERAPEUTICS, INC. annual revenue history includes year-by-year totals (for example, 2025 revenue was $154.9M).
| Year | Annual Revenue |
|---|---|
| 2025 | $154.9M |
| 2024 | $144.3M |
| 2023 | $127.0M |
| 2022 | $107.7M |
HERON THERAPEUTICS, INC. Quarterly Revenue & Net Profit History
HERON THERAPEUTICS, INC. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $40.6M | -0.5% | $-3.0M | -7.3% |
| Q3 FY2025 | $38.2M | +16.5% | $-17.5M | -45.8% |
| Q2 FY2025 | $37.2M | +3.3% | $-2.4M | -6.4% |
| Q1 FY2025 | $38.9M | +12.2% | $2.6M | 6.8% |
| Q4 FY2024 | $40.8M | +19.1% | $3.7M | 9.0% |
| Q3 FY2024 | $32.8M | +4.4% | $-4.8M | -14.8% |
| Q2 FY2024 | $36.0M | +13.4% | $-9.2M | -25.6% |
| Q1 FY2024 | $34.7M | +17.1% | $-3.2M | -9.1% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $34.7M | $36.0M | $32.8M | $40.8M | $38.9M | $37.2M | $38.2M | $40.6M |
| YoY Growth | 17.1% | 13.4% | 4.4% | 19.1% | 12.2% | 3.3% | 16.5% | -0.5% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $217.9M | $218.1M | $220.8M | $233.1M | $235.8M | $232.1M | $248.9M | $255.9M |
| Liabilities | $251.7M | $256.1M | $260.8M | $266.8M | $264.2M | $259.3M | $234.1M | $241.5M |
| Equity | $-33.8M | $-37.9M | $-40.0M | $-33.7M | $-28.5M | $-27.3M | $14.9M | $14.3M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-9.5M | $-4.6M | $3.4M | $-11.8M | $-8.9M | $-10.9M | $1.3M | $-9.2M |