Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2025

Percentage of Net Product Sales and Accounts Receivable Balance

The following table includes the percentage of net product sales and accounts receivable balances for our three major Customers, each of which comprised 10% or more of our product sales:


	Net Product Sales						Accounts Receivable
	Three Months Ended September 30, 2025			Nine Months Ended September 30, 2025			As of September 30, 2025
Customer A		38.8	%		42.2	%		40.6	%
Customer B		33.6	%		33.5	%		33.4	%
Customer C		25.8	%		22.8	%		25.5	%
Total		98.2	%		98.5	%		99.5	%

Schedule of Disaggregated Net Product Sales

The following table provides disaggregated net product sales (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
CINVANTI net product sales	$	23,955	$	22,662	$	73,841	$	73,205
SUSTOL net product sales		1,911		2,763		7,175		10,623
ZYNRELEF net product sales		9,313		6,245		25,542		17,089
APONVIE net product sales		3,034		1,140		7,758		2,587
Total net product sales	$	38,213	$	32,810	$	114,316	$	103,504

Summary of Activity to Product Returns, Distributor Fees and Discounts, Rebates and Administrative Fees

The following table provides a summary of activity with respect to our product returns, distributor fees and discounts, rebates and administrative fees, which are included in other accrued liabilities on the condensed consolidated balance sheets (in thousands):


	Product Returns			Distributor Fees			Discounts, Rebates and Administrative Fees			Total
Balance at December 31, 2024	$	3,791		$	5,883		$	27,745		$	37,419
Provision		1,544			25,949			170,019			197,512
Payments/credits		(842	)		(25,264	)		(167,462	)		(193,568	)
Balance at September 30, 2025	$	4,493		$	6,568		$	30,302		$	41,363

Common Stock Equivalents Excluded From Computation of Net Loss Per Share

Because we have incurred a net loss for the three and nine months ended September 30, 2025 and 2024, the following common stock equivalents were not included in the computation of net loss per share because their effect would be anti-dilutive (in thousands):


	As of September 30,
	2025		2024
Stock options outstanding		28,888		26,156
Restricted stock units outstanding		4,014		1,547
Warrants outstanding		298		298
Shares of common stock underlying convertible notes outstanding		19,444		9,819
Series A Preferred Stock convertible to common shares		5,241		—

HERON THERAPEUTICS, INC. /DE/ 10-Q