Filing Flows › Heron Therapeutics (HRTX) › Q1 2026
Heron Therapeutics (HRTX) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Heron Therapeutics (HRTX) reported revenue of $34.7M for the first quarter 2026 (Q1 2026), -11% from a year earlier and -14% from the quarter before. Operating margin was -13.7%, net loss $8.1M (23.4% of revenue).
Heron Therapeutics, Q1 2026: revenue $34.7M (-11% year over year), operating margin -13.7%, net loss $8.1M, operating cash flow −$1.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $34.7M | -14% | -11% |
| Operating profit | −$4.8M | -12639% | -251% |
| Net earnings | −$8.1M | — | -408% |
| Operating cash flow | −$1.5M | — | — |
What changed
Revenue was $34.7M in Q1 2026, down 11% year over year and down 14% from the previous quarter. CINVANTI was the largest line at 59% of revenue. CINVANTI lost $5.2M year over year (down 20%), 124% of the total change.
Gross margin was 69.4%, down 8.9 points from Q1 2025. Operating costs exceeded revenue by $4.8M, an operating margin of -13.7%. Operating expenses grew 6% against a revenue fall of 11%. The fastest-growing cost line was Sales & marketing (+16%). The quarter ended with a net loss of $8.1M, wider than the previous quarter's $3.0M loss.
Operating cash flow was −$1.5M. Non-cash charges added back $529K of depreciation and amortization and $3.0M of share-based compensation. Working capital and other items added $3.1M. Capital expenditures of $391K exceeded it, leaving free cash flow of −$1.9M.
Questions
What was Heron Therapeutics' revenue in the first quarter 2026?
Heron Therapeutics (HRTX) reported revenue of $34.7M for the first quarter 2026 (Q1 2026), -11% from a year earlier and -14% from the quarter before.
Was Heron Therapeutics profitable in the first quarter 2026?
Operating loss was $4.8M (-13.7% of revenue) and net loss $8.1M.
Source: Heron Therapeutics 10-Q on SEC EDGAR.