Flagship explainer

How HERON THERAPEUTICS, INC. /DE/ makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$155M · 100%Cost of revenue$41.3M · 27%Gross profit$114M · 73%Operating income−$2.5M · −2%Income before tax−$20.2M · −13%Income tax$0 · 0%Net income−$20.2M · −13%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$155M100%
Cost of revenue$41.3M27%
$114M73%
−$2.5M−2%
Income before tax−$20.2M−13%
Income tax$00%
−$20.2M−13%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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