Heron Therapeutics, Inc. (HRTX) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -1.54M | -9.18M | 1.33M | -10.87M | -8.87M | -11.78M | 3.37M | -4.6M | -9.52M | 2.46M | -9.18M | -27.16M | -24.9M | -37.53M | -37.07M | -28.37M | -43.94M | -45.26M | -53.17M | -62.99M |
| Operating CF Margin % | -4.44% | -22.63% | 3.48% | -29.22% | -22.8% | -28.89% | 10.27% | -12.78% | -27.45% | 7.17% | -29.2% | -85.53% | -84.08% | -125% | -139.57% | -102.69% | -187.32% | -219.11% | -228.87% | -280.68% |
| Operating CF Growth % | 82.64% | 22.04% | -60.52% | -136.06% | 6.79% | -579.84% | 136.73% | 83.05% | 61.78% | 106.54% | 75.24% | 4.26% | 43.33% | 17.07% | 30.28% | 54.96% | -4.77% | 13.88% | -26.42% | -9.98% |
| Net Income | -8.11M | -2.95M | -17.5M | -2.38M | 2.63M | 3.66M | -4.85M | -9.23M | -3.16M | -10.72M | -25.01M | -42.06M | -32.77M | -19.87M | -41.91M | -56.36M | -63.89M | -54.65M | -52.41M | -61.02M |
| Depreciation & Amortization | 529K | 537K | 615K | 611K | 551K | 581K | 958K | 641K | 689K | 715K | 727K | 791K | 769K | 841K | 758K | 721K | 771K | 844K | 823K | 1.02M |
| Stock-Based Compensation | 2.98M | 2.18M | 2.85M | 2.8M | 2.51M | 2.29M | 2.72M | 4.57M | 3.38M | 4.32M | 6.68M | 13.9M | 7.95M | 10.51M | 11.2M | 10.35M | 10.91M | 12.89M | 11.24M | 11.24M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -819K | -184K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 83K | 120K | 11.72M | 96K | -104K | 24K | 247K | 2.84M | -328K | 557K | 73K | -2.29M | 520K | -3.82M | -7.49M | 5.61M | 4.67M | -1.03M | -5.15M | 9.79M |
| Working Capital Changes | 2.98M | -9.07M | 3.64M | -11.99M | -14.46M | -18.34M | 4.29M | -3.42M | -10.09M | 8.4M | 8.53M | 2.49M | -1.37M | -25.2M | 378K | 11.3M | 3.59M | -3.32M | -7.67M | -24.03M |
| Change in Receivables | 5.89M | -8.54M | -1.12M | -1.2M | 145K | -11.84M | 6.67M | -8.39M | -5.18M | 3.66M | 12.9M | -25.25M | 601K | -9.86M | -1.89M | 800K | -5.6M | 7.59M | -471K | -4.09M |
| Change in Inventory | -169K | -14.19M | 2.94M | -16.03M | -3.77M | -7.21M | -3.09M | -391K | -363K | -103K | 2.62M | 7.44M | 2.51M | -2.33M | 9.08M | -4.85M | -8.09M | -6.88M | 1.3M | -171K |
| Change in Payables | -24K | -3.02M | -20K | -296K | 624K | 1.52M | 0 | 9.39M | -2.4M | 1.38M | -97K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -939K | -5.46M | 11.86M | 7.33M | 2.27M | 11.42M | 3.97M | 2.05M | 1.28M | -8.84M | -23.22M | 13.22M | 36.83M | 2.02M | -36.05M | 19.76M | 10.95M | -24.26M | 21.63M | 39.7M |
| Capital Expenditures | -391K | 0 | 0 | -208K | -109K | -638K | -431K | -637K | 0 | -250K | -793K | -278K | -224K | -414K | -45K | -322K | -1.04M | -390K | -1.53M | -315K |
| CapEx % of Revenue | 1.13% | - | - | 0.56% | 0.28% | 1.56% | 1.31% | 1.77% | - | 0.73% | 2.52% | 0.88% | 0.76% | 1.38% | 0.17% | 1.17% | 4.45% | 1.89% | 6.59% | 1.4% |
| Acquisitions | 0 | 53K | 29K | 11K | 42K | 27K | 0 | 0 | 0 | 13K | 0 | 0 | 0 | 3K | 168K | 0 | 56K | 32K | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | -37K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -51K | 219K | 13.36M | 781K | 64K | 423K | 14K | 492K | 11K | 199K | 53.8M | 319K | -208K | 439K | 74.94M | 315K | -637K | 487K | -71K | 154.73M |
| Debt Issued (Net) | 0 | 9.39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -29.75M | 54.1M | 0 | 0 | -75.16M | 75.16M | 0 | 0 | 0 | -19K | 148.98M |
| Equity Issued (Net) | -51K | -9.17M | 27.65M | 781K | 64K | 423K | 14K | 492K | 11K | 29.95M | -308K | 319K | -208K | 75.6M | -221K | 315K | -637K | 487K | -52K | 5.75M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -52K | 0 |
| Other Financing | 0 | 0 | -14.29M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | -2.53M | -14.42M | 26.55M | -2.75M | -6.53M | 61K | 7.36M | -2.06M | -8.23M | -6.18M | 21.4M | -13.63M | 11.73M | -35.07M | 1.83M | -8.3M | -33.63M | -69.03M | -31.6M | 131.43M |
| Free Cash Flow | -1.93M | -9.18M | 1.33M | -11.08M | -8.98M | -12.42M | 2.94M | -5.24M | -9.52M | 2.21M | -9.97M | -27.44M | -25.12M | -37.95M | -37.11M | -28.7M | -44.98M | -45.65M | -54.7M | -63.31M |
| FCF Margin % | -5.56% | -22.63% | 3.48% | -29.77% | -23.08% | -30.45% | 8.96% | -14.55% | -27.45% | 6.44% | -31.72% | -86.4% | -84.84% | -126.38% | -139.74% | -103.85% | -191.77% | -221% | -235.46% | -282.08% |
| FCF Growth % | 78.49% | 26.04% | -54.73% | -111.33% | 5.64% | -663.17% | 129.48% | 80.9% | 62.12% | 105.81% | 73.13% | 4.36% | 44.15% | 16.87% | 32.15% | 54.67% | -5.29% | 17.08% | -28.14% | -9.1% |
| FCF per Share | -0.01 | -0.06 | 0.01 | -0.07 | -0.06 | -0.08 | 0.02 | -0.03 | -0.06 | 0.01 | -0.07 | -0.23 | -0.21 | -0.32 | -0.33 | -0.28 | -0.44 | -0.45 | -0.54 | -0.64 |
| FCF Conversion (FCF/Net Income) | 0.19x | 3.11x | -0.08x | 4.56x | -3.37x | -3.22x | -0.70x | 0.50x | 3.01x | -0.23x | 0.37x | 0.65x | 0.76x | 1.89x | 0.88x | 0.50x | 0.69x | 0.83x | 1.01x | 1.03x |
| Interest Paid | 0 | 0 | 1.45M | 0 | 636K | 1.77M | 662K | 0 | 0 | 0 | 0 | 1.13M | 0 | 1.13M | 0 | 1.13M | 0 | 1.24M | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |