)
Visual21 Nov 2025
Data center suppliers
Heron Therapeutics (HRTX) investor relations material
Heron Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Q3 2025 net revenue reached $38.2 million, up 16.5% year-over-year, and $114.3 million year-to-date, with Adjusted EBITDA of $1.5 million for the quarter and $9.5 million year-to-date.
Acute care products ZYNRELEF and APONVIE showed strong momentum, with ZYNRELEF net sales up 49% and APONVIE up 173% year-over-year.
Oncology supportive care franchise remains anchored by CINVANTI, which maintained stable sales despite competitive pressures, while SUSTOL sales declined and will be wound down over the next year.
Completed major financing and refinancing, including a $150M working capital facility, $35M convertible note issuance, and $27.7M equity offering, strengthening liquidity.
ZYNRELEF received a permanent J-code effective October 1, 2025, streamlining reimbursement and expected to drive broader adoption.
Financial highlights
Q3 2025 net product sales were $38.2 million, up from $32.8 million in Q3 2024; year-to-date sales were $114.3 million, up from $103.5 million.
Gross margin for Q3 2025 was 68.8%, impacted by a one-time inventory write-off; adjusted gross margin excluding this was approximately 74.5%.
Net loss for Q3 2025 was $17.5 million, mainly due to an $11.3 million loss on debt extinguishment.
Cash and short-term investments stood at $55.5 million at quarter end, bolstered by recent financing activities.
SG&A expenses increased to $26.9 million in Q3 2025, primarily from new hires and ZYNRELEF marketing; R&D expenses decreased to $3.5 million.
Outlook and guidance
Full-year 2025 net revenue guidance reaffirmed at $153 million–$163 million, with Adjusted EBITDA guidance of $9 million–$13 million.
Acute care products expected to continue strong momentum into Q4 and 2026, supported by new initiatives and expanded sales teams.
APONVIE inclusion in upcoming 2025 PONV Prophylaxis Consensus Guidelines is anticipated to boost awareness and adoption.
Management expects current liquidity to cover anticipated cash requirements for at least one year.
Oncology product sales are expected to face continued competitive pressure.
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Heron Therapeutics earnings date
Q4 202527 Feb, 2026
Next Heron Therapeutics earnings date
Q4 202527 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Heron Therapeutics Inc. is a biotechnology company focused on developing and commercializing therapies to address unmet medical needs in acute care and oncology. The company specializes in creating treatments for pain management and chemotherapy-induced side effects, such as nausea and vomiting. Heron Therapeutics utilizes its proprietary technology platforms to develop extended-release therapies that aim to improve patient comfort and treatment outcomes. The company is headquartered in San Diego, California, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage