--- title: "Heron Therap | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 34.71 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285937832.md" datetime: "2026-05-11T12:02:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285937832.md) - [en](https://longbridge.com/en/news/285937832.md) - [zh-HK](https://longbridge.com/zh-HK/news/285937832.md) --- # Heron Therap | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 34.71 M Revenue: As of FY2026 Q1, the actual value is USD 34.71 M, missing the estimate of USD 36.72 M. EPS: As of FY2026 Q1, the actual value is USD -0.04. EBIT: As of FY2026 Q1, the actual value is USD -965 K. #### Net Product Sales - Total net product sales for Heron Therapeutics, Inc. decreased to $34,711 thousand for the three months ended March 31, 2026, from $38,903 thousand for the same period in 2025, representing a decrease of $4,192 thousand. - Acute Care net product sales increased by $3,327 thousand, or 32.3%, to $13,629 thousand for the three months ended March 31, 2026, compared to $10,302 thousand for the comparable period in 2025, driven by higher unit sales from increased market share and new customers for ZYNRELEF and APONVIE. - Oncology net product sales decreased by $7,519 thousand, or 26.3%, to $21,082 thousand for the three months ended March 31, 2026, compared to $28,601 thousand for the comparable period in 2025, mainly due to a reduction in units sold. #### Cost of Product Sales and Gross Profit - Cost of product sales increased by $2,181 thousand, or 25.8%, to $10,638 thousand for the three months ended March 31, 2026, from $8,457 thousand in the prior year period. - As a percentage of sales, cost of product sales increased to 30.6% in 2026 from 21.7% in 2025. - Gross profit was $24,073 thousand for the three months ended March 31, 2026, down from $30,446 thousand for the same period in 2025. - Gross profit margin for the three months ended March 31, 2026, was 69.4%, compared to 78.3% for the comparable period in 2025. - The increase in cost of product sales was primarily due to a $300 thousand increase in inventory reserves and write-offs, and a $1,900 thousand increase in the cost of units sold, mainly due to supplier mix. #### Operating Expenses - **Research and Development (R&D) Expense**: Increased by $106 thousand, or 4.7%, to $2,385 thousand for the three months ended March 31, 2026, from $2,279 thousand for the same period in 2025, primarily due to higher contract services costs. - **General and Administrative (G&A) Expense**: Decreased by $557 thousand, or 4.4%, to $12,145 thousand for the three months ended March 31, 2026, compared to $12,702 thousand for the same period in 2025, mainly due to a - $1,000 thousand reduction in rent expense and a - $900 thousand decrease in legal expenses, partially offset by a $1,100 thousand increase in personnel-related costs and stock compensation expense. - **Sales and Marketing Expense**: Increased by $1,997 thousand, or 16.2%, to $14,308 thousand for the three months ended March 31, 2026, from $12,311 thousand for the same period in 2025, primarily driven by a $1,000 thousand increase in personnel-related costs and stock compensation expense, and a $1,000 thousand increase in marketing expense for ZYNRELEF. #### Operating Result - Heron Therapeutics, Inc. reported a loss from operations of - $4,765 thousand for the three months ended March 31, 2026, compared to an income from operations of $3,154 thousand for the same period in 2025. #### Other Expense, Net - Other expense, net, was - $3,346 thousand for the three months ended March 31, 2026, an increase from - $519 thousand for the same period in 2025, related to a $2,300 thousand rise in interest expense and a - $300 thousand loss of sublease income. #### Net Loss/Income - Heron Therapeutics, Inc. reported a net loss of - $8,111 thousand for the three months ended March 31, 2026, compared to a net income of $2,635 thousand for the same period in 2025. #### Cash Flow - Net cash used in operating activities decreased to - $1,540 thousand for the three months ended March 31, 2026, from - $8,870 thousand for the same period in 2025. - Net cash used in investing activities was - $939 thousand for the three months ended March 31, 2026, a change from net cash provided by investing activities of $2,273 thousand for the same period in 2025. - Net cash used in financing activities was - $51 thousand for the three months ended March 31, 2026, compared to net cash provided of $64 thousand for the same period in 2025. - Cash and cash equivalents at the end of the period were $26,117 thousand as of March 31, 2026. #### Liquidity and Capital Resources - As of March 31, 2026, Heron Therapeutics, Inc. had cash, cash equivalents, and short-term investments totaling $44,800 thousand. - The accumulated deficit was - $1,900,000 thousand as of March 31, 2026. #### Customer Concentration - For the three months ended March 31, 2026, Customer A accounted for 36.4% of net product sales and 36.2% of accounts receivable. - Customer B accounted for 36.2% of net product sales and 36.1% of accounts receivable. - Customer C accounted for 25.4% of net product sales and 27.4% of accounts receivable. #### Future Outlook and Strategy - Heron Therapeutics, Inc. anticipates that its current cash, cash equivalents, and short-term investments will be sufficient to meet anticipated cash requirements for at least one year from the financial statements’ issuance date. The company’s future funding needs depend on revenue generation, and the scope and costs of commercial and R&D activities. Heron Therapeutics, Inc. remains focused on commercializing its portfolio of acute care and oncology products and developing product candidates using its Biochronomer Technology. ### Related Stocks - [HRTX.US](https://longbridge.com/en/quote/HRTX.US.md) ## Related News & Research - [Heron Therapeutics Faces Tight Covenant Constraints That Threaten Liquidity and Strategic Flexibility](https://longbridge.com/en/news/286050041.md) - [Heron Therapeutics' Q1 revenue falls as oncology sales drop](https://longbridge.com/en/news/285939642.md) - [Could CAAP’s Stronger Q1 And Armenia Deal Quietly Recast Its Long‑Term Capital Allocation Story?](https://longbridge.com/en/news/286675227.md) - [Freshworks furnishes Refresh 2026 investor presentation, raises 2028 ARR target by $100M](https://longbridge.com/en/news/286464866.md) - [National CineMedia (NCMI) Q1 Loss Reopens Debate Around Earnings Stability Narratives](https://longbridge.com/en/news/286343465.md)