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Side-by-side financial comparison of HERON THERAPEUTICS, INC. (HRTX) and Maison Solutions Inc. (MSS). Click either name above to swap in a different company.

HERON THERAPEUTICS, INC. is the larger business by last-quarter revenue ($40.6M vs $27.6M, roughly 1.5× Maison Solutions Inc.). HERON THERAPEUTICS, INC. runs the higher net margin — -7.3% vs -18.0%, a 10.7% gap on every dollar of revenue. On growth, HERON THERAPEUTICS, INC. posted the faster year-over-year revenue change (-0.5% vs -10.9%). Over the past eight quarters, Maison Solutions Inc.'s revenue compounded faster (42.5% CAGR vs 8.2%).

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...

Maison Solutions Inc. is a specialty home goods retail company that provides a diverse portfolio of stylish, affordably priced furniture, home decor items, and daily household products. Its primary market is the Guangdong-Hong Kong-Macao Greater Bay Area in China, serving mass consumers through both offline physical stores and online e-commerce channels.

HRTX vs MSS — Head-to-Head

Bigger by revenue
HRTX
HRTX
1.5× larger
HRTX
$40.6M
$27.6M
MSS
Growing faster (revenue YoY)
HRTX
HRTX
+10.5% gap
HRTX
-0.5%
-10.9%
MSS
Higher net margin
HRTX
HRTX
10.7% more per $
HRTX
-7.3%
-18.0%
MSS
Faster 2-yr revenue CAGR
MSS
MSS
Annualised
MSS
42.5%
8.2%
HRTX

Income Statement — Q4 FY2025 vs Q2 FY2026

Metric
HRTX
HRTX
MSS
MSS
Revenue
$40.6M
$27.6M
Net Profit
$-3.0M
$-5.0M
Gross Margin
72.6%
23.4%
Operating Margin
0.1%
-4.9%
Net Margin
-7.3%
-18.0%
Revenue YoY
-0.5%
-10.9%
Net Profit YoY
-180.6%
-1840.5%
EPS (diluted)
$-0.01
$-0.23

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
HRTX
HRTX
MSS
MSS
Q4 25
$40.6M
$27.6M
Q3 25
$38.2M
$27.2M
Q2 25
$37.2M
$34.4M
Q1 25
$38.9M
$32.3M
Q4 24
$40.8M
$29.4M
Q3 24
$32.8M
$28.2M
Q2 24
$36.0M
$16.9M
Q1 24
$34.7M
$13.6M
Net Profit
HRTX
HRTX
MSS
MSS
Q4 25
$-3.0M
$-5.0M
Q3 25
$-17.5M
$-1.5M
Q2 25
$-2.4M
$-287.4K
Q1 25
$2.6M
$1.0M
Q4 24
$3.7M
$-256.0K
Q3 24
$-4.8M
$700.9K
Q2 24
$-9.2M
$-2.8M
Q1 24
$-3.2M
$-549.0K
Gross Margin
HRTX
HRTX
MSS
MSS
Q4 25
72.6%
23.4%
Q3 25
68.8%
24.1%
Q2 25
73.5%
9.5%
Q1 25
78.3%
21.8%
Q4 24
74.9%
26.9%
Q3 24
71.2%
28.9%
Q2 24
70.8%
13.0%
Q1 24
75.6%
23.4%
Operating Margin
HRTX
HRTX
MSS
MSS
Q4 25
0.1%
-4.9%
Q3 25
-10.7%
0.7%
Q2 25
-4.4%
-15.9%
Q1 25
8.1%
3.7%
Q4 24
10.2%
3.2%
Q3 24
-13.6%
7.3%
Q2 24
-17.9%
-14.4%
Q1 24
-13.8%
-2.3%
Net Margin
HRTX
HRTX
MSS
MSS
Q4 25
-7.3%
-18.0%
Q3 25
-45.8%
-5.7%
Q2 25
-6.4%
-0.8%
Q1 25
6.8%
3.1%
Q4 24
9.0%
-0.9%
Q3 24
-14.8%
2.5%
Q2 24
-25.6%
-16.4%
Q1 24
-9.1%
-4.0%
EPS (diluted)
HRTX
HRTX
MSS
MSS
Q4 25
$-0.01
$-0.23
Q3 25
$-0.10
$-0.08
Q2 25
$-0.02
$-0.02
Q1 25
$0.01
$0.06
Q4 24
$0.02
$-0.01
Q3 24
$-0.03
$0.04
Q2 24
$-0.06
$-0.16
Q1 24
$-0.02
$-0.03

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
HRTX
HRTX
MSS
MSS
Cash + ST InvestmentsLiquidity on hand
$28.6M
Total DebtLower is stronger
$2.6M
Stockholders' EquityBook value
$14.3M
$11.6M
Total Assets
$255.9M
$75.4M
Debt / EquityLower = less leverage
0.22×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
HRTX
HRTX
MSS
MSS
Q4 25
$28.6M
Q3 25
$43.1M
$1.1M
Q2 25
$16.5M
$775.4K
Q1 25
$19.3M
$445.4K
Q4 24
$25.8M
$355.7K
Q3 24
$25.7M
$588.9K
Q2 24
$18.4M
$2.1M
Q1 24
$20.4M
$9.4M
Total Debt
HRTX
HRTX
MSS
MSS
Q4 25
$2.6M
Q3 25
$2.6M
Q2 25
$2.6M
Q1 25
Q4 24
Q3 24
$2.5M
Q2 24
$2.6M
Q1 24
$2.6M
Stockholders' Equity
HRTX
HRTX
MSS
MSS
Q4 25
$14.3M
$11.6M
Q3 25
$14.9M
$10.1M
Q2 25
$-27.3M
$11.7M
Q1 25
$-28.5M
$12.0M
Q4 24
$-33.7M
$10.9M
Q3 24
$-40.0M
$11.2M
Q2 24
$-37.9M
$10.5M
Q1 24
$-33.8M
$13.3M
Total Assets
HRTX
HRTX
MSS
MSS
Q4 25
$255.9M
$75.4M
Q3 25
$248.9M
$73.3M
Q2 25
$232.1M
$77.4M
Q1 25
$235.8M
$82.7M
Q4 24
$233.1M
$82.7M
Q3 24
$220.8M
$82.1M
Q2 24
$218.1M
$82.4M
Q1 24
$217.9M
$44.2M
Debt / Equity
HRTX
HRTX
MSS
MSS
Q4 25
0.22×
Q3 25
0.26×
Q2 25
0.22×
Q1 25
Q4 24
Q3 24
0.23×
Q2 24
0.24×
Q1 24
0.19×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
HRTX
HRTX
MSS
MSS
Operating Cash FlowLast quarter
$-9.2M
$-1.7M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
HRTX
HRTX
MSS
MSS
Q4 25
$-9.2M
$-1.7M
Q3 25
$1.3M
$1.1M
Q2 25
$-10.9M
$-1.6M
Q1 25
$-8.9M
$1.7M
Q4 24
$-11.8M
$1.1M
Q3 24
$3.4M
$3.6M
Q2 24
$-4.6M
$-2.6M
Q1 24
$-9.5M
$-1.4M
Free Cash Flow
HRTX
HRTX
MSS
MSS
Q4 25
Q3 25
Q2 25
$-11.1M
Q1 25
$-9.0M
Q4 24
Q3 24
$2.9M
Q2 24
Q1 24
FCF Margin
HRTX
HRTX
MSS
MSS
Q4 25
Q3 25
Q2 25
-29.8%
Q1 25
-23.1%
Q4 24
Q3 24
9.0%
Q2 24
Q1 24
Capex Intensity
HRTX
HRTX
MSS
MSS
Q4 25
0.0%
Q3 25
0.0%
Q2 25
0.6%
Q1 25
0.3%
Q4 24
Q3 24
1.3%
Q2 24
Q1 24
Cash Conversion
HRTX
HRTX
MSS
MSS
Q4 25
Q3 25
Q2 25
Q1 25
-3.37×
1.66×
Q4 24
-3.22×
Q3 24
5.12×
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

HRTX
HRTX

CINVANTI$22.9M56%
ZYNRELEF$12.5M31%
Aponvie$3.8M9%
SUSTOL$1.3M3%

MSS
MSS

Perishables$14.4M52%
Nonperishables$13.2M48%

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