Anika Reports Third Quarter 2026 Financial Results

(NASDAQ: ANIK) Anika Therapeutics, Inc. reported total revenue of $30.6 million for the third quarter of 2026, an increase of 10% year over year compared to $27.8 million in the prior-year period. Commercial Channel revenue was $14.0 million, up approximately 17% year over year, while OEM Channel revenue was $16.6 million, up approximately 5% year over year. International viscosupplement revenue increased 19% year over year, and total Regenerative Solutions revenue increased 12%. Integrity revenue grew both sequentially and by more than 30% year over year, supported by the introduction of larger implant sizes in late 2025 and early 2026. Through the first nine months of 2026, Commercial Channel revenue increased 15% and OEM Channel revenue increased 11% year to date. Anika secured a long-term commercial agreement improving the durability and economics of a key commercial relationship, increased manufacturing capacity, fully enrolled the Cingal bioequivalence study, and expanded Integrity adoption. Gross margin improved to 62% from 56% in the prior-year period, driven by manufacturing productivity and offset partially by product mix from the reintroduction of Hyalomatrix. Unit volumes on Anika’s cross-link line are now more than 50% above 2022 levels. In September, enrollment in the Cingal bioequivalence study was completed, and Anika expects to submit the Cingal NDA before year-end 2027. In October, the FDA notified Anika that the Hyalofast PMA application is not approvable, primarily due to the clinical data included in the submission; Anika is assessing regulatory pathways and next steps. In November, Anika entered a new 10-year partnership for the distribution of Hyvisc with Boehringer Ingelheim, providing higher transfer pricing, a royalty on end-market sales, higher contractual purchases, and upfront and milestone payments totaling $8 million, including a $4 million upfront payment in Q1 2027 and $4 million tied to commercial volumes. Integrity contributed $7.5 million in revenue for the trailing 12 months and has increased 37% year to date. Anika launched second-generation Integrity instrumentation in September. Hyalomatrix was reintroduced in the U.S. through a new OEM distributor with first commercial units shipped in Q3. Operating expenses were $19.5 million, up 4% year over year. GAAP loss from continuing operations was $0.3 million, or $0.02 per diluted share. Adjusted net income from continuing operations was $3.9 million, or $0.29 per diluted share. Adjusted EBITDA was $5.1 million. Cash and cash equivalents were $45.0 million as of September 30, 2026. For 2026, Anika raised the lower end of its total company revenue growth guidance to 6% to 10% (previously 5% to 10%), OEM Channel revenue growth guidance to 5% to 9% (previously 0% to 5%), Commercial Channel revenue growth guidance to 9% to 13% (previously 12% to 18%), and adjusted EBITDA margin guidance to 15% to 17% (previously 13% to 17%). For 2027, total company revenue growth is guided to be flat to 5%, OEM Channel revenue growth flat to modestly lower, and Commercial Channel revenue growth 5% to 15%.

Anika Reports Second Quarter 2026 Financial Results

(NASDAQ:ANIK) Anika Therapeutics, Inc. reported that commercial channel revenue increased 17% to a record $13.9 million.