Filing Flows › Heron Therapeutics (HRTX) › Q1 2025
Heron Therapeutics (HRTX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Heron Therapeutics (HRTX) reported revenue of $38.9M for the first quarter 2025 (Q1 2025), +12% from a year earlier and -5% from the quarter before. Operating margin was 8.1%, net earnings $2.6M (6.8% of revenue).
Heron Therapeutics, Q1 2025: revenue $38.9M (+12% year over year), operating margin 8.1%, net earnings $2.6M, operating cash flow −$8.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $38.9M | -5% | +12% |
| Gross profit | $30.4M | -0.4% | +16% |
| Operating profit | $3.2M | -24% | — |
| Net earnings | $2.6M | -28% | — |
| Operating cash flow | −$8.9M | — | — |
What changed
Revenue was $38.9M in Q1 2025, up 12% year over year and down 5% from the previous quarter. CINVANTI was the largest line at 66% of revenue. ZYNRELEF added $3.0M year over year (up 60%), 72% of the total change. SUSTOL declined 21%.
Gross margin was 78.3%, up 2.6 points from a year earlier. Operating profit was $3.2M, a 8.1% margin (up 21.9 points year over year). Operating expenses fell 12% while revenue rose 12%. Net earnings were $2.6M. The effective tax rate was 0.0%.
Operating cash flow was −$8.9M. Non-cash charges added back $551K of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $14.6M. Capital expenditures of $109K exceeded it, leaving free cash flow of −$9.0M.
Questions
What was Heron Therapeutics' revenue in the first quarter 2025?
Heron Therapeutics (HRTX) reported revenue of $38.9M for the first quarter 2025 (Q1 2025), +12% from a year earlier and -5% from the quarter before.
Was Heron Therapeutics profitable in the first quarter 2025?
Operating profit was $3.2M (8.1% of revenue) and net earnings $2.6M.
Source: Heron Therapeutics 10-Q on SEC EDGAR.