Heron Therapeutics Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-20.2	-13.58	-110.56	-182.02	-220.68
Depreciation & Amortization	2.31	2.49	2.9	2.89	3.02
Other Amortization	0.82	0.96	0.34	0.2	0.9
Loss (Gain) From Sale of Assets	-	-0.03	0.01	0.07	0.82
Asset Writedown & Restructuring Costs	0.41	4.41	0.62	0.21	0.48
Loss (Gain) From Sale of Investments	-0.74	-2.14	-1.74	-0.74	0.33
Stock-Based Compensation	10.34	12.96	32.85	42.98	46.85
Other Operating Activities	11.34	-	-	-	-
Change in Accounts Receivable	-10.71	-18.74	-8.09	-16.55	6.35
Change in Inventory	-31.05	-11.05	12.46	-6.19	-6.48
Change in Accounts Payable	-2.72	8.47	0.02	-0.58	3.28
Change in Other Net Operating Assets	12.59	-6.28	12.4	12.81	-38.23
Operating Cash Flow	-27.59	-22.53	-58.79	-146.91	-203.35
Capital Expenditures	-0.32	-1.71	-1.55	-1.83	-3.02
Sale of Property, Plant & Equipment	0.1	0.03	0.01	0.23	0.03
Investment in Securities	16.23	20.39	19.53	-1.73	35.72
Investing Cash Flow	16.01	18.71	18	-3.32	32.73
Long-Term Debt Issued	137.25	-	24.35	-	148.96
Total Debt Issued	137.25	-	24.35	-	148.96
Long-Term Debt Repaid	-150	-	-	-	-
Total Debt Repaid	-150	-	-	-	-
Net Debt Issued (Repaid)	-12.76	-	24.35	-	148.96
Issuance of Common Stock	19.32	0.94	30.66	76.59	7.07
Other Financing Activities	-	-	-0.9	-1.53	-
Financing Cash Flow	14.43	0.94	54.11	75.06	156.03
Net Cash Flow	2.85	-2.88	13.31	-75.18	-14.6
Free Cash Flow	-27.91	-24.24	-60.33	-148.74	-206.38
Free Cash Flow Margin	-18.02%	-16.80%	-47.49%	-138.14%	-239.01%
Free Cash Flow Per Share	-0.17	-0.16	-0.44	-1.37	-2.10
Cash Interest Paid	-	4.86	3.06	2.25	1.24
Levered Free Cash Flow	-38.8	-25.82	-16.84	-75.8	-103.97
Unlevered Free Cash Flow	-33.62	-23.01	-14.76	-74.46	-103.37
Change in Working Capital	-31.88	-27.6	16.79	-10.51	-35.08

Updated Feb 26, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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