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Jun 30
Heron Therapeutics Q2 2025 Earnings Report
Heron Therapeutics reported Q2 2025 revenue of $37.2M and a net loss of $2.38M.
Key Takeaways
Heron Therapeutics posted Q2 2025 net revenue of $37.2 million, driven by growth in its Acute Care franchise. Despite strong product demand, the company reported a net loss of $2.38 million with an EPS of -$0.02. Cash, cash equivalents, and short-term investments stood at $40.6 million at quarter end.
Total net revenue reached $37.2 million, up 3.3% year-over-year.
ZYNRELEF and APONVIE sales saw significant quarterly growth of 40.4% and 141.6% year-over-year, respectively.
Net loss was $2.38 million with EPS of -$0.02.
Cash, cash equivalents, and short-term investments totaled $40.6 million.
Heron Therapeutics
Heron Therapeutics
Heron Therapeutics Revenue by Segment
Heron Therapeutics Revenue by Geographic Location
Revenue by Segment
CINVANTI Revenue
CapyFin.comSUSTOL Revenue
CapyFin.comZYNRELEF Revenue
CapyFin.comAPONVIE Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Heron reaffirmed 2025 net revenue guidance of $153M–$163M and increased adjusted EBITDA guidance to $9M–$13M, driven by momentum in ZYNRELEF and APONVIE adoption and expanded sales efforts.
Positive Outlook
- Reaffirmed 2025 net revenue guidance of $153M–$163M.
- Increased adjusted EBITDA guidance to $9M–$13M.
- ZYNRELEF and APONVIE adoption expected to accelerate with dedicated sales teams.
- Permanent CMS J-code for ZYNRELEF effective October 1, 2025.
- Enhanced distributor incentives and commercial pull-through initiatives planned.
Challenges Ahead
- Oncology segment revenue declined year-over-year.
- SUSTOL sales dropped 43.4% year-over-year.
- Net loss in Q2 2025 despite strong revenue growth in Acute Care products.
- Wholesaler adjustment from ZYNRELEF VAN transition impacted revenue.
- Cash position, while stable, remains modest relative to total liabilities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income