Earnings Releases·Nov 6, 2026, 7:20 AM ET

Anika Therapeutics — Third Quarter 2026 Earnings Summary

Q3 total revenue rose 10% year-over-year to $30.6 million, driven by 17% growth in the Commercial Channel and 5% growth in the OEM Channel, while gross margin expanded to 62% from 56% in the prior year.
The company raised full-year 2026 revenue guidance to 6–10% (previously 5–10%) and adjusted EBITDA margin guidance to 15–17% (previously 13–17%), though Commercial growth guidance was lowered to 9–13% due to slower elective surgery demand.
Strategic milestones include a new 10-year Boehringer Ingelheim partnership for Hyvisc with $8 million in expected payments, the launch of second-generation Integrity instrumentation, and a $9.5 million common stock repurchase over the first nine months.
Regulatory updates include an FDA "not approvable" notice for the Hyalofast PMA application, while the Cingal NDA is scheduled for submission before year-end 2027 pending bioequivalence study completion.
Full-year 2026 revenue reached $92.8 million (up 13% year-over-year), and the company reaffirmed flat to 5% total revenue growth guidance for 2027.