Revenue: As of FY2026 Q2, the actual value is USD 37.67 M, missing the estimate of USD 42.2 M.

EPS: As of FY2026 Q2, the actual value is USD -0.03.

EBIT: As of FY2026 Q2, the actual value is USD -2.044 M.

Financial Highlights (Three Months Ended June 30, 2026)

Total Net Revenue

Heron Therapeutics, Inc. reported total net revenue of $37.7 million for Q2 2026, marking a 9% increase from Q1 2026. Total net revenue for the three months ended June 30, 2026, was $37,666 thousand, an increase of 1.3% compared to $37,200 thousand in the same period of 2025.

Segment Revenue

• Acute Care: Net revenue for the Acute Care segment increased by 43.9% year-over-year to $15,333 thousand for the three months ended June 30, 2026, up from $10,653 thousand in 2025.
  • APONVIE®: Contributed $4,277 thousand in net revenue, a 73.6% increase from $2,464 thousand in 2025.
  • ZYNRELEF®: Generated $11,056 thousand in net revenue, a 35.0% increase from $8,189 thousand in 2025.
• Oncology: Net revenue for the Oncology segment decreased by -15.9% year-over-year to $22,333 thousand for the three months ended June 30, 2026, down from $26,547 thousand in 2025.
  • CINVANTI®: Contributed $21,793 thousand in net revenue, a -9.7% decrease from $24,143 thousand in 2025.
  • SUSTOL®: Generated $540 thousand in net revenue, a -77.5% decrease from $2,404 thousand in 2025.

Gross Profit

Gross profit for the three months ended June 30, 2026, was $26,094 thousand, a decrease from $27,343 thousand in the prior year period.

Operating Expenses

Total operating expenses for the three months ended June 30, 2026, were $28,138 thousand, a decrease from $28,980 thousand in 2025. Research and development (R&D) expenses were $2,702 thousand in 2026, down from $2,934 thousand in 2025. General and administrative (G&A) expenses were $11,276 thousand in 2026, down from $14,471 thousand in 2025. Sales and marketing (S&M) expenses were $14,160 thousand in 2026, up from $11,575 thousand in 2025.

Operating Profit/Loss

Loss from operations for the three months ended June 30, 2026, was - $2,044 thousand, compared to a loss of - $1,637 thousand in 2025.

Net Income/Loss

Net loss for the three months ended June 30, 2026, was - $5,489 thousand, compared to a net loss of - $2,381 thousand in 2025.

Adjusted EBITDA

Adjusted EBITDA for the three months ended June 30, 2026, was $3,177 thousand, up from $2,218 thousand in 2025.

Financial Highlights (Six Months Ended June 30, 2026)

Total Net Revenue

Total net revenue for the six months ended June 30, 2026, was $72,377 thousand, a decrease of -4.9% compared to $76,103 thousand in the same period of 2025.

Segment Revenue

• Acute Care: Net revenue for the Acute Care segment increased by 38.2% year-over-year to $28,961 thousand for the six months ended June 30, 2026, up from $20,954 thousand in 2025.
  • APONVIE®: Contributed $7,670 thousand in net revenue, a 62.4% increase from $4,724 thousand in 2025.
  • ZYNRELEF®: Generated $21,291 thousand in net revenue, a 31.2% increase from $16,230 thousand in 2025.
• Oncology: Net revenue for the Oncology segment decreased by -21.3% year-over-year to $43,416 thousand for the six months ended June 30, 2026, down from $55,149 thousand in 2025.
  • CINVANTI®: Contributed $42,328 thousand in net revenue, a -15.2% decrease from $49,886 thousand in 2025.
  • SUSTOL®: Generated $1,088 thousand in net revenue, a -79.3% decrease from $5,263 thousand in 2025.

Gross Profit

Gross profit for the six months ended June 30, 2026, was $50,167 thousand, a decrease from $57,789 thousand in the prior year period.

Operating Expenses

Total operating expenses for the six months ended June 30, 2026, were $56,976 thousand, an increase from $56,272 thousand in 2025. Research and development (R&D) expenses were $5,087 thousand in 2026, down from $5,213 thousand in 2025. General and administrative (G&A) expenses were $23,421 thousand in 2026, down from $27,173 thousand in 2025. Sales and marketing (S&M) expenses were $28,468 thousand in 2026, up from $23,886 thousand in 2025.

Operating Profit/Loss

Loss from operations for the six months ended June 30, 2026, was - $6,809 thousand, compared to income of $1,517 thousand in 2025.

Net Income/Loss

Net loss for the six months ended June 30, 2026, was - $13,600 thousand, compared to a net income of $254 thousand in 2025.

Adjusted EBITDA

Adjusted EBITDA for the six months ended June 30, 2026, was $2,524 thousand, down from $8,434 thousand in 2025.

Cash and Investments

Heron Therapeutics, Inc. ended Q2 2026 with $42.7 million in cash, cash equivalents, and short-term investments. As of June 30, 2026, cash and cash equivalents were $20,721 thousand and short-term investments were $21,943 thousand.

Outlook / Guidance

Heron Therapeutics, Inc. withdrew its previously issued full-year 2026 financial guidance for net product sales and Adjusted EBITDA due to the inability to reliably forecast the timing or terms of potential generic entry for CINVANTI® following a June 2026 court decision. In response, the company paused sales force expansion, tightened spending, and is now considering strategic alternatives.