Heron Therapeutics(HRTX) - 2024 Q4 - Annual Results

Financial Performance - Heron achieved Q4 2024 GAAP Net Income of $3.6 million, marking a significant milestone for the company[7]. - Full-year 2024 Net Revenue reached $144.2 million, representing a 14% increase year-over-year[7]. - ZYNRELEF generated Q4 2024 Net Revenue of $8.5 million, with a full-year revenue of $25.5 million, up 44.1% from 2023[7][9]. - Total Net Revenue for Q4 2024 was $40.8 million, a 19.1% increase compared to Q4 2023[10]. - Net product sales for Q4 2024 reached $40,781 million, a 19.5% increase from $34,233 million in Q4 2023[29]. - Gross profit for the twelve months ended December 31, 2024, was $105,637 million, compared to $61,939 million in 2023, reflecting a significant improvement[29]. - The net loss for Q4 2024 was $3,663 million, a substantial improvement from a net loss of $10,724 million in Q4 2023[29]. - Basic and diluted net income per share improved to $0.02 in Q4 2024, compared to a loss of $0.07 per share in Q4 2023[29]. Revenue Guidance and Expectations - The company expects 2025 Net Revenue guidance between $153.0 million and $163.0 million, with Adjusted EBITDA guidance ranging from $0.0 million to $8.0 million[5]. Product Performance - APONVIE's revenue surged by 224.8% year-over-year, reaching $4.5 million in 2024[9]. - Acute Care segment revenue increased by 57.3% year-over-year, totaling $30.1 million in 2024[9]. Market Expansion - The partnership with Crosslink Network is expected to enhance promotional efforts for ZYNRELEF in the orthopedic surgery market[8]. - Expanded label indications for ZYNRELEF now cover approximately 17 million annual targeted procedures, significantly increasing its market potential[8]. Cash and Assets - Cash, cash equivalents, and short-term investments totaled $59.3 million as of December 31, 2024[8]. - Cash and cash equivalents decreased to $25,802 million as of December 31, 2024, from $28,677 million in 2023[31]. - Accounts receivable increased to $78,881 million in 2024, up from $60,137 million in 2023, indicating higher sales volume[31]. - Total assets grew to $233,147 million in 2024, compared to $222,506 million in 2023, reflecting overall growth[31]. Liabilities and Deficits - Current liabilities increased to $91,457 million in 2024, up from $79,685 million in 2023, suggesting increased operational commitments[31]. - The accumulated deficit as of December 31, 2024, was $(1,919,594) million, slightly worsening from $(1,906,014) million in 2023[31]. Cost Management - Total operating expenses decreased to $117,165 million for the twelve months ended December 31, 2024, down from $172,554 million in 2023, indicating cost management efforts[29].