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Anika Reports Third Quarter 2026 Financial Results

ANIK
  • Anika Therapeutics reported third-quarter 2026 total revenue of $30.6 million, representing a 10% increase year over year.
  • Commercial channel revenue grew 17% year over year to $14.0 million, while OEM channel revenue increased 5% to $16.6 million.
  • Integrity revenue grew more than 30% year over year, driven by larger implant sizes expanding use into foot, ankle, & knee applications.
  • International viscosupplement revenue increased 19% year over year, contributing to sustained demand for Cingal & Monovisc.
  • The company secured a new 10-year partnership with Boehringer Ingelheim for Hyvisc distribution, including enhanced economics & an expected $8 million in payments.
  • Anika reintroduced Hyaff wound product Hyalomatrix in the U.S. via a new OEM distributor during the quarter.
  • The company raised the lower end of its full-year 2026 total revenue guidance to 6% to 10% & raised 2026 adjusted EBITDA guidance to a 15% to 17% margin.
  • Gross margin improved to 62% year over year, driven by manufacturing productivity despite product mix changes from Hyalomatrix.
  • Enrollment in the Cingal bioequivalence study was completed in September, with a new drug application expected before year-end 2027.
  • The FDA notified Anika that its Hyalofast pre-market approval application is not approvable based on clinical data; the company is assessing next steps.
  • Adjusted net income from continuing operations was $3.9 million ($0.29 per diluted share) compared to a loss in the prior-year period.
  • Cash & cash equivalents stood at $45.0 million as of September 30, 2026.
  • Second-generation Integrity instrumentation launched in September to offer surgeons alternative insertion options.
  • Anika increased manufacturing throughput with cross-link line unit volumes now more than 50% above 2022 levels.
Company
Anika Therapeutics Inc.
Keywords
Nasdaq:ANIK, Anika Therapeutics Inc.