Anika Reports Second Quarter 2026 Financial Results
Rhea-AI Summary
Anika (Nasdaq: ANIK) reported second quarter 2026 revenue of $32.6 million, up 16% year over year, driven by record Commercial Channel revenue of $13.9 million (17% growth) and OEM Channel revenue of $18.7 million (14% growth). Gross profit rose to $21.2 million with gross margin expanding to 65%, supported by higher volumes, improved mix and manufacturing efficiencies.
Total operating expenses were $18.3 million, slightly below the prior year; excluding roughly $0.8 million of severance, adjusted operating expenses declined 6%. Net income from continuing operations was $3.3 million, or $0.24 per diluted share, and adjusted EBITDA reached $7.1 million, a 22% margin and the highest since 2020. Cash and equivalents were $38.4 million at June 30, 2026. Based on first-half performance, Anika raised 2026 total revenue growth guidance to 5%–10% and adjusted EBITDA margin guidance to 13%–17%, and revised its 2027 outlook under a new policy that excludes unapproved products such as Hyalofast from revenue forecasts.
Positive
- Revenue +16% YoY to $32.6 million in Q2 2026
- Commercial Channel revenue +17% YoY to a record $13.9 million
- Gross margin expanded to 65% from $21.2 million gross profit
- Net income $3.3 million; 10% margin from continuing operations
- Adjusted EBITDA $7.1 million; 22% margin and highest since 2020
- 2026 adjusted EBITDA margin guidance raised to 13%–17% from 5%–10%
Negative
- Cash balance declined to $38.4 million from $57.5 million at year-end 2025
- Inventories increased to $28.6 million from $18.8 million
- 2027 Commercial Channel revenue growth guidance lowered to 5%–15% from 10%–20%
- 2027 total company revenue now guided to flat to 5% growth
- Company expects H2 2026 moderation in revenue and profitability versus strong first half
News Explained
Cingal remains on track toward an NDA, with bioequivalence enrollment progressing and CMC work accelerating, while Hyalofast remains in FDA review; 2027 forecasts therefore exclude revenue from unapproved products.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 29 | First-quarter earnings | Positive | -18.8% | Revenue and margins improved, but the stock declined 18.81% over 24 hours. |
| Feb 26 | Fourth-quarter earnings | Neutral | +16.9% | Mixed revenue results accompanied margin expansion and positive full-year operating metrics. |
| Nov 05 | Third-quarter earnings | Neutral | +2.3% | Revenue declined and losses persisted alongside pipeline and commercial development updates. |
| Jul 30 | Second-quarter earnings | Negative | -27.4% | Revenue declined, primary endpoints were missed, and continuing-operations losses widened. |
| May 09 | First-quarter earnings | Negative | -21.0% | Total revenue and OEM sales declined, with reduced profitability guidance and continuing-operations losses. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-tagged reactions were mixed, with an average move of -9.61% across the selected historical events.
Key Terms
adjusted ebitda financial
new drug application regulatory
bioequivalence study medical
chemistry, manufacturing and controls regulatory
premarket approval regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Commercial Channel Revenue Increased
Delivered
Raising Full-Year 2026 Financial Guidance and Revising 2027 Revenue Forecast
BEDFORD, Mass., July 29, 2026 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (Nasdaq: ANIK), a global leader in the osteoarthritis ("OA") pain management and regenerative solutions spaces focused on early-intervention orthopedics, today announced financial results for the second quarter of 2026.
Total revenue for the second quarter was
Gross profit for the second quarter was
Total operating expenses were
Net income was
"Our second quarter results mark a positive step forward in improving the performance of our business. We achieved record Commercial Channel revenue, substantial gross margin expansion, and our highest adjusted EBITDA since 2020. The actions we initiated earlier this year are delivering early gains as we continue to drive operational excellence throughout the Company. Additionally, our growth has diversified across channels and geographies, highlighted by a record quarter of international revenue.” said Steve Griffin, President and Chief Executive Officer.
“Our OEM business continues to perform well, supported by stronger transfer unit volumes driven by J&J DePuy Synthes, order timing across both the Monovisc and Orthovisc product lines, favorable U.S. Monovisc end market sales, and continued international growth. These drivers increased production, throughput and manufacturing yields, resulting in meaningful gross margin expansion and operating leverage. Combined with disciplined expense management, a
Given our first-half performance, we are raising our full-year financial outlook. Most notably, we are raising our adjusted EBITDA margin outlook to
As we continue to advance toward filing the Cingal New Drug Application (“NDA”) we’re making steady progress on the bioequivalence study for Triamcinolone Hexacetonide and are accelerating the necessary Chemistry, Manufacturing and Controls (“CMC”), activities required to file Cingal as a drug-drug combination product. Additionally, we remain actively engaged with the U.S. Food and Drug Administration (“FDA”) on Hyalofast, with discussions focusing primarily on the co-primary clinical endpoints within the Premarket Approval (“PMA”) submission.
Given the timing uncertainty that remains in our regulatory review process, particularly as our discussions with the FDA on Hyalofast evolve, we are adopting a new revenue guidance practice. Going forward, our forecast will only include revenue from products that have received regulatory approval or clearance. As a result, our 2027 Commercial Channel revenue guidance no longer includes revenue associated with Hyalofast.”
Second Quarter 2026 Business Highlights and Updates
- Strong first-half execution drove record revenue performance, significant gross margin expansion, and a raise to full-year revenue and EBITDA guidance.
- Commercial Channel revenue increased
17% year-over-year to a record$13.9 million , representing the strongest quarter in Company history. - International revenue reached a record
$12.6 million , increasing22% year-over-year and exceeding the prior quarterly record by5% , reflecting continued strength across key markets and the increasing contribution from Anika's global commercial organization. - OEM Channel performance benefited from strong transfer units, favorable order timing and Monovisc volume growth, partially offset by lower Orthovisc sales.
- Integrity global units increased both sequentially and year-over-year during the second quarter, driven by growing international demand and continued adoption of larger implant shapes and sizes in the US. Year-to-date sales grew
39% year over year. - Hyalofast PMA activities continue to advance, with the Company remaining actively engaged with the FDA as it works through the ongoing review process and responses to the previously disclosed deficiency letter.
- Cingal development remains on track, with bioequivalence study enrollment progressing as planned. Concurrently, the required CMC activities supporting hyaluronic acid as a drug are accelerating in preparation for the NDA submission.
Second Quarter 2026 Continuing Operations Financial Summary
- Revenue:
$32.6 million , up16% year over year - Commercial Channel revenue:
$13.9 million , up17% - OEM Channel revenue:
$18.7 million , up14% - Gross margin:
65% - Operating expenses:
$18.3 million - GAAP income (loss) from continuing operations:
$3.3 million ,$0.24 per diluted share - Adjusted net income from continuing operations¹:
$5.9 million ,$0.42 per diluted share - Adjusted EBITDA¹:
$7.1 million - Cash and cash equivalents:
$38.4 million as of June 30, 2026
¹See description of non-GAAP financial information contained in this release.
Fiscal 2026 Guidance
Based on strong first-half operating performance, continued commercial momentum, favorable OEM dynamics, and improved profitability, Anika is raising its full-year 2026 guidance.
Updated 2026 Guidance
- Raising Total Company Revenue Guidance: revenue growth of
5% to10% , compared to previous guidance of1% to9% - OEM Channel revenue growth:
0% to5% , compared to previous guidance of down5% to flat - Commercial Channel revenue growth:
12% to18% , compared to previous guidance of10% to20%
- OEM Channel revenue growth:
- Adjusted EBITDA margin:
13% to17% , compared to previous guidance of5% to10%
Updated 2027 Revenue Guidance
Anika has adopted a new revenue guidance practice. Going forward, the Company’s forecast will only include revenue for products that have received regulatory approval or clearance.
- 2027 Commercial Channel revenue growth:
5% to15% , compared to previous guidance of10% to20% - 2027 OEM revenue growth: Unchanged, flat to modestly lower
- 2027 Total Company revenue: flat to
5% growth
Conference Call and Webcast Information
Anika’s management will hold a conference call and webcast to discuss its financial results and business highlights today, Wednesday, July 29, 2026, at 8:30 am ET. The conference call can be accessed by dialing 1-800-717-1738 (toll-free domestic) or 1-646-307-1865 (international) and providing the conference ID number 60388. A live audio webcast will be available in the Investor Relations section of Anika’s website, www.anika.com. A slide presentation with highlights from the conference call will be available in the Investor Relations section of the Anika website. A replay of the webcast will be available on Anika’s website approximately two hours after the completion of the event.
About Anika
Anika Therapeutics, Inc. (NASDAQ: ANIK), is the global leader in the design, development, manufacturing, and commercialization of hyaluronic acid innovations. In partnership with clinicians, our sole focus is dedicated to delivering and advancing osteoarthritis pain management and orthopedic regenerative solutions. At our core is a passion to deliver a differentiated portfolio that improves patient outcomes around the world. Anika’s global operations are headquartered outside of Boston, Massachusetts. For more information about Anika, please visit www.anika.com.
ANIKA, ANIKA THERAPEUTICS, CINGAL, HYALOFAST, INTEGRITY, MONOVISC, and the Anika logo are trademarks of Anika Therapeutics, Inc. or its subsidiaries or are licensed to Anika Therapeutics, Inc. for its use.
Non-GAAP Financial Information1
Non-GAAP financial measures should be considered supplemental to, and not a substitute for, the Company’s reported financial results prepared in accordance with GAAP. Furthermore, the Company’s definition of non-GAAP measures may differ from similarly titled measures used by others. Because non-GAAP financial measures exclude the effect of items that will increase or decrease the Company’s reported results of operations, Anika strongly encourages investors to review the Company’s consolidated financial statements and publicly filed reports in their entirety. The Company presents these non-GAAP financial measures because it uses them as supplemental measures in internally assessing the Company’s operating performance, and, in the case of Adjusted EBITDA, it is set as a key performance metric to determine executive compensation. The Company also recognizes that these non-GAAP measures are commonly used in determining business performance more broadly and believes that they are helpful to investors, securities analysts, and other interested parties as a measure of comparative operating performance from period to period.
Adjusted EBITDA
Adjusted EBITDA is defined by the Company as GAAP net income (loss) from continuing operations excluding depreciation and amortization, interest and other income (expense), income taxes, stock-based compensation expense, and non-recurring professional fees and severance costs.
Adjusted Net Income (Loss) from Continuing Operations and Adjusted Earnings Per Share (“EPS”) from Continuing Operations
Adjusted net income (loss) is defined by the Company as GAAP net income (loss) from continuing operations, on a tax effected basis, excluding stock-based compensation, severance costs and non-recurring professional fees. Adjusted diluted EPS from continuing operations is defined by the Company as GAAP diluted EPS from continuing operations excluding stock-based compensation, severance costs and non-recurring professional fees, each on a tax effected basis.
A reconciliation of adjusted EBITDA to adjusted net income (loss) from continuing operations to net income (loss) from continuing operations and adjusted diluted EPS from continuing operations to diluted EPS from continuing operations, the most directly comparable financial measures calculated and presented in accordance with GAAP, is shown in the tables at the end of this release.
The Company has not provided a reconciliation of its forward-looking adjusted EBITDA margin guidance to the most directly comparable GAAP financial measure because it is unable to predict with reasonable certainty the occurrence or amount of items such as stock-based compensation expense, severance costs, non-recurring professional fees and certain other items that may affect GAAP results. The effect of these items could be material, and therefore a reconciliation is not available without unreasonable effort.
Forward-Looking Statements
This press release may contain forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning the Company's expectations, anticipations, intentions, beliefs or strategies regarding the future which are not statements of historical fact, including statements in the sections titled “Fiscal 2026 Guidance” and “Updated 2027 Revenue Guidance” regarding 2026 and 2027 revenue, adjusted EBITDA and related financial outlook. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks, uncertainties, and other factors. The Company's actual results could differ materially from any anticipated future results, performance, or achievements described in the forward-looking statements as a result of a number of factors including, but not limited to, (i) the Company's ability to successfully commence and/or complete clinical trials of its products on a timely basis or at all; (ii) the Company's ability to obtain pre-clinical or clinical data to support, or to timely file domestic and international pre-market approval applications, 510(k) applications, or new drug applications, including the PMA for Hyalofast and the NDA for Cingal; (iii) that the FDA or other regulatory bodies may not approve or clear the Company’s applications, including the Hyalofast PMA because of the failure to achieve the pre-defined primary endpoints or because the FDA may determine that achievement of secondary endpoints and/or post hoc data analyses are not sufficient to support approval; (iv) that such approvals or clearances will not be obtained in a timely manner or without the need for additional clinical trials, other testing or regulatory submissions, as applicable; (v) the Company's research and product development efforts and their relative success, including whether the Company has any meaningful sales of any new products resulting from such efforts; (vi) the cost effectiveness and efficiency of the Company's clinical studies, manufacturing operations, and production planning; (vii) the strength of the economies in which the Company operates or will be operating, as well as the political stability of any of those geographic areas; (viii) future determinations by the Company to allocate resources to products and in directions not presently contemplated; (ix) the Company's ability to successfully commercialize its products, in the U.S. and abroad; (x) the Company's ability to provide an adequate and timely supply of its products to its customers; (xi) the Company's ability to achieve its growth targets; and (xii) the Company's ability to realize anticipated cost savings, operational efficiencies and other benefits from its restructuring actions and strategic transformation initiatives. Additional factors and risks are described in the Company's periodic reports filed with the Securities and Exchange Commission, and they are available on the SEC's website at www.sec.gov. Forward-looking statements are made based on information available to the Company on the date of this press release, and the Company assumes no obligation to update the information contained in this press release.
For Investor Inquiries:
Anika Therapeutics, Inc.
Matt Hall, 781-457-9554
Executive Director, Corporate Development and Investor Relations
investorrelations@anika.com
| Anika Therapeutics, Inc. and Subsidiaries | |||||||||||||||
| Consolidated Statements of Operations | |||||||||||||||
| (in thousands, except per share data) | |||||||||||||||
| (unaudited) | |||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue | $ | 32,610 | $ | 28,219 | $ | 62,222 | $ | 54,387 | |||||||
| Cost of Revenue | 11,366 | 13,856 | 21,981 | 25,343 | |||||||||||
| Gross Profit | 21,244 | 14,363 | 40,241 | 29,044 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 7,341 | 6,313 | 14,054 | 12,372 | |||||||||||
| Selling, general and administrative | 10,949 | 12,230 | 28,721 | 25,136 | |||||||||||
| Total operating expenses | 18,290 | 18,543 | 42,775 | 37,508 | |||||||||||
| Income (loss) from operations | 2,954 | (4,180 | ) | (2,534 | ) | (8,464 | ) | ||||||||
| Interest and other income (expense), net | 426 | 214 | 1,093 | 629 | |||||||||||
| Income (loss) before income taxes | 3,380 | (3,966 | ) | (1,441 | ) | (7,835 | ) | ||||||||
| Provision for income taxes | 71 | 681 | 306 | 770 | |||||||||||
| Income (loss) from continuing operations | 3,309 | (4,647 | ) | (1,747 | ) | (8,605 | ) | ||||||||
| Income (loss) from discontinued operations, net of tax | - | 677 | - | (238 | ) | ||||||||||
| Net income (loss) | $ | 3,309 | $ | (3,970 | ) | $ | (1,747 | ) | $ | (8,843 | ) | ||||
| Net income (loss) per share: | |||||||||||||||
| Basic | |||||||||||||||
| Continuing Operations | $ | 0.25 | $ | (0.33 | ) | $ | (0.13 | ) | $ | (0.60 | ) | ||||
| Discontinued Operations | $ | - | $ | 0.05 | $ | - | $ | (0.02 | ) | ||||||
| $ | 0.25 | $ | (0.28 | ) | $ | (0.13 | ) | $ | (0.62 | ) | |||||
| Diluted | |||||||||||||||
| Continuing Operations | $ | 0.24 | $ | (0.33 | ) | $ | (0.13 | ) | $ | (0.60 | ) | ||||
| Discontinued Operations | $ | - | $ | 0.05 | $ | - | $ | (0.02 | ) | ||||||
| $ | 0.24 | $ | (0.28 | ) | $ | (0.13 | ) | $ | (0.62 | ) | |||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 13,330 | 14,364 | 13,430 | 14,331 | |||||||||||
| Diluted | 13,717 | 14,517 | 13,430 | 14,331 | |||||||||||
| Anika Therapeutics, Inc. and Subsidiaries | |||||||
| Consolidated Balance Sheets | |||||||
| (in thousands, except per share data) | |||||||
| (unaudited) | |||||||
| June 30, | December 31, | ||||||
| ASSETS | 2026 | 2025 | |||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 38,412 | $ | 57,481 | |||
| Accounts receivable, net | 29,062 | 23,690 | |||||
| Inventories, net | 28,565 | 18,787 | |||||
| Prepaid expenses and other current assets | 3,151 | 3,400 | |||||
| Total current assets | 99,190 | 103,358 | |||||
| Property and equipment, net | 40,102 | 40,324 | |||||
| Right-of-use assets | 24,949 | 25,939 | |||||
| Other long-term assets | 3,023 | 4,034 | |||||
| Notes receivable | 5,718 | 5,636 | |||||
| Deferred tax assets | 1,017 | 1,275 | |||||
| Intangible assets, net | 1,650 | 1,650 | |||||
| Goodwill | 7,825 | 8,054 | |||||
| Total assets | $ | 183,474 | $ | 190,270 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 6,236 | $ | 6,041 | |||
| Accrued expenses and other current liabilities | 15,911 | 15,867 | |||||
| Total current liabilities | 22,147 | 21,908 | |||||
| Other long-term liabilities | 730 | 701 | |||||
| Lease liabilities | 23,315 | 24,196 | |||||
| Stockholders’ equity: | |||||||
| Common stock, | 134 | 139 | |||||
| Additional paid-in-capital | 83,437 | 87,498 | |||||
| Accumulated other comprehensive loss | (5,329 | ) | (4,959 | ) | |||
| Retained earnings | 59,040 | 60,787 | |||||
| Total stockholders’ equity | 137,282 | 143,465 | |||||
| Total liabilities and stockholders’ equity | $ | 183,474 | $ | 190,270 | |||
| Anika Therapeutics, Inc. and Subsidiaries | |||||||
| Consolidated Statements of Cash Flows | |||||||
| (in thousands) | |||||||
| (unaudited) | |||||||
| For the Six Months Ended June 30, | |||||||
| 2026 | 2025 | ||||||
| Cash flows from operating activities: | |||||||
| Net loss | $ | (1,747 | ) | $ | (8,843 | ) | |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
| Depreciation | 2,912 | 2,663 | |||||
| Amortization of acquisition related intangible assets | - | 345 | |||||
| Non-cash operating lease cost | 929 | 1,067 | |||||
| Stock-based compensation expense | 8,474 | 5,411 | |||||
| Deferred income taxes | 237 | 15 | |||||
| Provision for doubtful accounts | (97 | ) | 133 | ||||
| Provision for inventory | 2,575 | 3,842 | |||||
| Interest income on notes receivable | (354 | ) | (345 | ) | |||
| Gain on sale of assets | (84 | ) | (505 | ) | |||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | (5,408 | ) | 659 | ||||
| Inventories | (11,420 | ) | 2,252 | ||||
| Prepaid expenses, other current and long-term assets | (831 | ) | 797 | ||||
| Accounts payable | 170 | (1,066 | ) | ||||
| Operating lease liabilities | (937 | ) | (1,045 | ) | |||
| Accrued expenses, other current and long-term liabilities | (1,074 | ) | (5,251 | ) | |||
| Income taxes | 1,125 | (448 | ) | ||||
| Net cash provided by operating activities | (5,530 | ) | (319 | ) | |||
| Cash flows from investing activities: | |||||||
| Proceeds from sale of Parcus | - | 4,496 | |||||
| Proceeds from sale of intangible assets | - | 600 | |||||
| Notes receivable | 361 | 328 | |||||
| Purchases of property and equipment | (2,880 | ) | (4,291 | ) | |||
| Net cash used in investing activities | (2,519 | ) | 1,133 | ||||
| Cash flows from financing activities: | |||||||
| Proceeds from employee stock purchase plan | 198 | 261 | |||||
| Cash paid for tax withheld on vested restricted stock awards | (1,715 | ) | (1,549 | ) | |||
| Proceeds from exercises of equity awards | 12 | - | |||||
| Repurchases of common stock | (9,543 | ) | (3,971 | ) | |||
| Net cash used in financing activities | (11,048 | ) | (5,259 | ) | |||
| Exchange rate impact on cash | 28 | 453 | |||||
| Increase (decrease) in cash and cash equivalents | (19,069 | ) | (3,992 | ) | |||
| Cash and cash equivalents at beginning of period | 57,481 | 57,159 | |||||
| Cash and cash equivalents at end of period | $ | 38,412 | $ | 53,167 | |||
| Anika Therapeutics, Inc. and Subsidiaries | ||||||||||||||||
| Reconciliation of GAAP Income (Loss) from Continued Operations to Adjusted EBITDA | ||||||||||||||||
| (in thousands) | ||||||||||||||||
| (unaudited) | ||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Income (loss) from continuing operations | $ | 3,309 | $ | (4,647 | ) | $ | (1,747 | ) | $ | (8,605 | ) | |||||
| Interest and other (income) expense, net | (426 | ) | (214 | ) | (1,093 | ) | (629 | ) | ||||||||
| Provision for income taxes | 71 | 681 | 306 | 770 | ||||||||||||
| Depreciation and amortization | 1,505 | 1,444 | 2,912 | 2,860 | ||||||||||||
| Stock-based compensation | 1,833 | 2,548 | 8,474 | 5,543 | ||||||||||||
| Non-recurring professional fees | - | - | 169 | - | ||||||||||||
| Severance costs | 772 | - | 2,359 | - | ||||||||||||
| Adjusted EBITDA | $ | 7,064 | $ | (188 | ) | $ | 11,380 | $ | (61 | ) | ||||||
| Anika Therapeutics, Inc. and Subsidiaries | ||||||||||||||||
| Reconciliation of GAAP Net Income from Continuing Operations to Adjusted Net Income from Continuing Operations | ||||||||||||||||
| (in thousands) | ||||||||||||||||
| (unaudited) | ||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Income (loss) from continuing operations | $ | 3,309 | $ | (4,647 | ) | $ | (1,747 | ) | $ | (8,605 | ) | |||||
| Stock-based compensation, tax effected | 1,794 | 2,986 | 10,274 | 6,088 | ||||||||||||
| Non-recurring professional fees, tax effected | - | - | 205 | - | ||||||||||||
| Severance costs, tax effected | 756 | - | 2,860 | - | ||||||||||||
| Adjusted net income (loss) from continuing operations | $ | 5,859 | $ | (1,661 | ) | $ | 11,592 | $ | (2,517 | ) | ||||||
| Anika Therapeutics, Inc. and Subsidiaries | ||||||||||||||||
| Reconciliation of GAAP Diluted Earnings from Continuing Operations Per Share to Adjusted Diluted Earnings from Continuing Opertions Per Share | ||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| (unaudited) | ||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Diluted income (loss) from continuing operations per share | $ | 0.24 | $ | (0.33 | ) | $ | (0.13 | ) | $ | (0.60 | ) | |||||
| Stock-based compensation, tax effected | 0.13 | 0.20 | 0.76 | 0.43 | ||||||||||||
| Non-recurring professional fees, tax effected | - | 0.02 | - | |||||||||||||
| Severance costs, tax effected | 0.05 | - | 0.21 | - | ||||||||||||
| Adjusted diluted income (loss) from continuing operations per share | $ | 0.42 | $ | (0.13 | ) | $ | 0.86 | $ | (0.17 | ) | ||||||
| Anika Therapeutics, Inc. and Subsidiaries | |||||||||||||||||||||||
| Revenue by Product Family | |||||||||||||||||||||||
| (in thousands, except percentages) | |||||||||||||||||||||||
| (unaudited) | |||||||||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | $ change | % change | 2026 | 2025 | $ change | % change | ||||||||||||||||
| OEM Channel | $ | 18,705 | $ | 16,340 | $ | 2,365 | 14 | % | $ | 35,740 | $ | 31,249 | $ | 4,491 | 14 | % | |||||||
| Commercial Channel | 13,905 | 11,879 | 2,026 | 17 | % | 26,482 | 23,138 | 3,344 | 14 | % | |||||||||||||
| $ | 32,610 | $ | 28,219 | $ | 4,391 | 16 | % | $ | 62,222 | $ | 54,387 | $ | 7,835 | 14 | % | ||||||||
