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Heron Therapeutics, Inc. cash flow statement

In fiscal 2025, Heron Therapeutics, Inc.'s operations generated −$27.6m of cash; it spent $317,000 on capital projects, leaving free cash flow of −$27.9m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−134−170−192−125−185−203−147−59−23−28−12
Depreciation and amortisation12223333222
Stock-based pay2631335150474333131011
Capital spending33977322201
Free cash flow−137−173−201−132−192−206−149−60−24−28−12
Free cash flow after stock pay−163−203−234−183−242−253−192−93−37−38−23
Shares issued—306363162——7530—18—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Heron Therapeutics, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Heron Therapeutics, Inc.