Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint
preservation company in early intervention orthopedics, today
reported financial results for its fourth quarter and full year
ended December 31, 2023.
Fourth Quarter
2023 Financial
Summary
- Revenue in the fourth quarter of 2023 was $43.0 million, up 8%
compared to $39.6 million in the fourth quarter of 2022.
- OA Pain Management revenue of $25.1 million, up 12%, on growing
global commercial adoption and some order timing
- Joint Preservation and Restoration revenue of $15.3 million, up
7%
- Non-Orthopedic revenue of $2.6 million, down 8%
- Gross margin was 61%, including $1.6 million of non-cash
acquisition-related intangible asset amortization; Adjusted gross
margin1 was 65%.
- Recorded a non-recurring, non-cash impairment charge in the
fourth quarter of $62.2 million for the intangible assets
associated with the Q1-2020 acquisitions of Arthrosurface and
Parcus Medical.
- Including the non-cash impairment charge, net loss was ($63.0)
million, or ($4.30) per share, compared to net loss of ($4.9)
million, or ($0.34) per share, in the prior year period.
- Adjusted net income1 was $0.8 million, or $0.05 per diluted
share, compared to adjusted net loss1 of ($3.0) million, or ($0.21)
per share, in the fourth quarter of 2022.
- Adjusted EBITDA1 was $5.8 million, compared to $1.4 million in
the fourth quarter of 2022.
- Cash from operations was $3.6 million; ending cash balance rose
to $72.9 million.
Full Year 2023 Financial
Summary
- Revenue for fiscal 2023 increased 7% to $166.7 million,
compared with $156.2 million in 2022.
- OA Pain Management revenue of $101.9 million, up 11%
- Joint Preservation and Restoration revenue of $54.9 million, up
9%
- Non-Orthopedic revenue of $9.9 million, down 29%
- Gross margin was 62%, including $6.2 million of non-cash
acquisition-related intangible asset amortization and $0.7 million
of product rationalization charges. Adjusted gross margin1,
excluding these charges, was 66%.
- Including the fourth quarter non-cash impairment charge, net
loss was ($82.7) million, or ($5.64) per share, compared to net
loss of ($14.9) million, or ($1.02) per share, in 2022. Net loss
also included $18.1 million, or ($1.23) per share, for charges
associated with product rationalization, acquisition related
amortization, discontinuation of software development, Parcus
arbitration settlement and shareholder activism.
- Adjusted net loss1 for the year was ($4.3) million, or ($0.30)
per share, compared to adjusted net loss of ($7.1) million, or
($0.49) per share in 2022.
- Adjusted EBITDA1 for the year was $15.5 million, compared to
$12.6 million in 2022.
- Cash used in operations was $1.8 million.
1 See description of non-GAAP financial
information contained in this release.
“We are pleased to report strong fourth quarter
and full year results, including a record year in OA Pain
Management. These results reflect the evolution of our
differentiated HA franchise and the launch of exciting new products
in Regenerative, Sports Medicine and Arthrosurface Joint
Solutions,” said Cheryl R. Blanchard, Ph.D., Anika’s President and
CEO. “Over the course of the year, we achieved key milestones,
learned a lot about the business, and are taking decisive action to
further reduce spending and focus our strategy on driving the
products that provide the greatest growth opportunities. Our plan
to optimize performance is designed to capitalize on the
significant growth potential across the business while accelerating
our pivot to profitability, with adjusted EBITDA expected to grow
over 75% at the midpoint in 2024.”
Dr. Blanchard continued, “We begin 2024 with
renewed energy and strong momentum across the new products in our
portfolio. Our HA-based Integrity Implant System is receiving very
positive feedback, and its full market release is on track for
mid-2024. We also remain focused on bringing Hyalofast and Cingal
to the U.S. market. As we focus the business on our core strengths
and highest value opportunities, we are confident that we will
enhance value for shareholders.”
Fiscal 2023 and Recent Business
Highlights
- Strengthening Leadership Position in OA Pain
Management
- Achieved record annual revenues of $102 million in OA Pain
Management on global growth of its Monovisc® single injection
viscosupplement and continued double-digit international growth of
its Cingal® next generation non-opioid single injection pain
product, on growing global commercial adoption and some order
timing; increasing #1 U.S. market share position2.
- Awaiting FDA feedback on proposed non-clinical next steps
regarding Cingal U.S. regulatory approval following a Type C
meeting with the FDA in early 2023 and its success in meeting its
latest Phase III Pivotal primary endpoint in the fall of 2022.
- Continuing to explore commercial partnerships for Cingal in the
U.S. and select Asian markets.
- Advancing a Highly Differentiated Portfolio of HA-Based
Regenerative Solutions
- Successfully completed over 100 cases with the Integrity™
Implant System, Anika’s HA-based regenerative rotator cuff patch
system, following the limited market release in late November 2023;
on-track for full market release in mid-2024
- Fully enrolled Phase III clinical trial for
Hyalofast®, Anika’s HA, off-the-shelf,
single-stage cartilage repair product; modular PMA submission with
break-through device designation commencing in 2024; final PMA
module filing expected in 2025 with product launching by 2026.
- Launched Key Products in Sports
Medicine and Arthrosurface
Joint Solutions
- X-Twist™ Biocomposite Fixation System launched in Q1-2024,
compliments the PEEK version launched in early 2023, together
addressing the more than $600 million U.S. rotator cuff
market2.
- RevoMotion™ Reverse Shoulder Arthroplasty System full market
release in September 2023, expanding Anika’s shoulder arthroplasty
portfolio into the more than $1 billion U.S. reverse shoulder
market2.
2 SmartTRAK Q3-2023 data
Cost Reductions In 2023, Anika
launched multiple meaningful new products and made considerable
progress addressing the new MDR regulatory requirements in Europe.
With the progress made in 2023, and in recognition of the slower
than expected pace of growth in some of its more mature product
lines, the Company has decided to further reduce its planned
spending for 2024 and to reduce approximately 9% of its workforce,
effective the end of the first quarter. The cost reductions, on an
annualized basis, are expected to provide savings of approximately
$10 million, excluding the impact of one-time costs. These actions
position Anika to focus on its strengths and preserve the Company’s
significant opportunities with its strong, growing and
differentiated product lines and pipeline, and accelerate Anika’s
pivot to profitability.
Fiscal 2024 Guidance In 2024,
Anika is prioritizing accelerated growth in profitability, with a
focus on the products with the greatest growth opportunities and
where the Company has the most differentiated right-to-win.
As such, Anika expects revenue for fiscal year
2024 of $168 to $173 million, representing growth of 1% to 4%
compared to 2023. Revenue ranges by product family are:
- OA Pain Management of $102 to $104 million, up 0% to 2%, on
sustained above-market growth offset by some unfavorable order
timing
- Joint Preservation and Restoration of $58 to $60.5 million, up
6% to 10%
- Non-Orthopedic of $8 to $8.5 million, down 14% to 19%
The Company expects adjusted EBITDA for 2024 to be
$25 to $30 million, up over 75% at the midpoint, representing an
adjusted EBITDA margin of at least 15%, up over 6 points compared
to 2023. Anika’s expectations around improved profitability in 2024
reflect only partial-year cost savings as well as the early-stage
ramp from Anika’s new products.
Strategic Business Update
Beginning in mid-2023, Anika engaged Piper Sandler and conducted a
company-wide strategic review, evaluating a wide range of strategic
alternatives for the company to increase shareholder value,
including a potential sale. Anika remains open to all value
enhancing opportunities and regularly reviews what makes the most
sense for the business.
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, March 13, 2024, at 5:00 pm ET. The
conference call can be accessed by dialing 1-888-886-7786
(toll-free domestic) or 1-416-764-8658 (international) and
providing the conference ID number 19479013. 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 a global joint preservation company that
creates and delivers meaningful advancements in early intervention
orthopedic care. Leveraging our core expertise in hyaluronic acid
and implant solutions, we partner with clinicians to provide
minimally invasive products that restore active living for people
around the world. Our focus is on high opportunity spaces within
orthopedics, including Osteoarthritis Pain Management, Regenerative
Solutions, Sports Medicine and Arthrosurface Joint Solutions, and
our products are efficiently delivered in key sites of care,
including ambulatory surgery centers. Anika’s global operations are
headquartered outside of Boston, Massachusetts. For more
information about Anika, please visit www.anika.com.
ANIKA, ANIKA THERAPEUTICS, ARTHROSURFACE, CINGAL,
HYALOFAST, INTEGRITY, MONOVISC, PARCUS MEDICAL, REVOMOTION,
X-TWIST, 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 Information
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 Gross Margin Adjusted gross margin is
defined by the Company as adjusted gross profit divided by total
revenue. The Company defines adjusted gross profit as GAAP gross
profit excluding amortization of certain acquired assets and
non-cash product rationalization charges.
Adjusted EBITDA Adjusted EBITDA is defined by the
Company as GAAP net income (loss) excluding depreciation and
amortization, interest and other income (expense), income taxes,
stock-based compensation expense, acquisition related expenses,
non-cash charges related to goodwill impairment, non-cash product
rationalization charges and charges related to discontinuation of a
software project.
Adjusted Net Income (Loss) and Adjusted EPS
Adjusted net income (loss) is defined by the Company as GAAP net
income excluding acquisition related expenses, inclusive of the
impact of purchase accounting, on a tax effected basis, non-cash
charges related to goodwill impairment, non-cash product
rationalization charges and charges related to discontinuation of a
software project. Adjusted diluted EPS is defined by the Company as
GAAP diluted EPS excluding acquisition related expenses and the
impact of purchase accounting, each on a tax-adjusted per share
basis, non-cash product rationalization charges and charges related
to discontinuation of a software development project.
A reconciliation of adjusted gross profit to gross
profit (and the associated adjusted gross margin calculation),
adjusted EBITDA to net income (loss), adjusted net income (loss) to
net income (loss) and adjusted diluted EPS to diluted EPS, the most
directly comparable financial measures calculated and presented in
accordance with GAAP, is shown in the tables at the end of this
release.
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 sub-headings, Dr.
Blanchard’s quote, and the section titled Cost Reductions about
potential cost savings and future profitability, the statements in
Dr. Blanchard’s quote and the section titled Fiscal 2023 and Recent
Business Highlights about the timing of future product launches,
and the statements made in the section titled Fiscal 2024 Guidance.
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 domestic and
international pre-market approval applications, 510(k)
applications, or new drug applications, or to timely file and
receive FDA or other regulatory approvals or clearances of its
products; (iii) that such approvals will not be obtained in a
timely manner or without the need for additional clinical trials,
other testing or regulatory submissions, as applicable; (iv) the
Company's research and product development efforts and their
relative success, including whether we have any meaningful sales of
any new products resulting from such efforts; (v) the cost
effectiveness and efficiency of the Company's clinical studies,
manufacturing operations, and production planning; (vi) 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; (vii) future determinations by the Company to
allocate resources to products and in directions not presently
contemplated; (viii) the Company's ability to successfully
commercialize its products, in the U.S. and abroad; (ix)
the Company's ability to provide an adequate and timely supply of
its products to its customers; and (x) the Company's ability to
achieve its growth targets. 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. Mark Namaroff, 781-457-9287 Vice President,
Investor Relations, ESG and Corporate Communications
investorrelations@anika.com
|
Anika Therapeutics, Inc. and Subsidiaries |
Consolidated Statements of Operations |
(in thousands, except per share data) |
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended December 31, |
|
For the Twelve Months Ended December 31, |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Revenue |
$ |
42,971 |
|
|
$ |
39,622 |
|
|
$ |
166,662 |
|
|
$ |
156,236 |
|
Cost of Revenue |
16,642 |
|
|
15,491 |
|
|
63,574 |
|
|
62,660 |
|
Gross Profit |
26,329 |
|
|
24,131 |
|
|
103,088 |
|
|
93,576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
Research and development |
7,585 |
|
|
7,749 |
|
|
32,690 |
|
|
28,182 |
|
Selling, general and administrative |
20,335 |
|
|
23,049 |
|
|
95,847 |
|
|
84,794 |
|
Impairment of intangible assets |
62,190 |
|
|
- |
|
|
62,190 |
|
|
- |
|
Total operating expenses |
90,110 |
|
|
30,798 |
|
|
190,727 |
|
|
112,976 |
|
Loss from operations |
(63,781 |
) |
|
(6,667 |
) |
|
(87,639 |
) |
|
(19,400 |
) |
Interest and other income (expense), net |
577 |
|
|
276 |
|
|
2,312 |
|
|
654 |
|
Loss before income taxes |
(63,204 |
) |
|
(6,391 |
) |
|
(85,327 |
) |
|
(18,746 |
) |
Benefit from income taxes |
(204 |
) |
|
(1,483 |
) |
|
(2,660 |
) |
|
(3,887 |
) |
Net loss |
$ |
(63,000 |
) |
|
$ |
(4,908 |
) |
|
$ |
(82,667 |
) |
|
$ |
(14,859 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share: |
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
(4.30 |
) |
|
$ |
(0.34 |
) |
|
$ |
(5.64 |
) |
|
$ |
(1.02 |
) |
Diluted |
$ |
(4.30 |
) |
|
$ |
(0.34 |
) |
|
$ |
(5.64 |
) |
|
$ |
(1.02 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
Basic |
14,647 |
|
|
14,640 |
|
|
14,656 |
|
|
14,561 |
|
Diluted |
14,647 |
|
|
14,640 |
|
|
14,656 |
|
|
14,561 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Anika Therapeutics, Inc. and Subsidiaries |
Consolidated Balance Sheets |
(in thousands, except per share data) |
(unaudited) |
|
|
|
|
|
|
|
December 31, |
|
December 31, |
ASSETS |
2023 |
|
2022 |
Current assets: |
|
|
|
|
|
Cash and cash equivalents |
$ |
72,867 |
|
|
$ |
86,327 |
|
Accounts receivable, net |
35,961 |
|
|
34,627 |
|
Inventories, net |
46,386 |
|
|
39,765 |
|
Prepaid expenses and other current assets |
8,095 |
|
|
8,828 |
|
Total current assets |
163,309 |
|
|
169,547 |
|
Property and equipment, net |
46,198 |
|
|
48,279 |
|
Right-of-use assets |
28,767 |
|
|
30,696 |
|
Other long-term assets |
18,672 |
|
|
17,219 |
|
Deferred tax assets |
1,489 |
|
|
1,449 |
|
Intangible assets, net |
4,626 |
|
|
74,599 |
|
Goodwill |
7,571 |
|
|
7,339 |
|
Total assets |
$ |
270,632 |
|
|
$ |
349,128 |
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
Accounts payable |
$ |
9,860 |
|
|
$ |
9,074 |
|
Accrued expenses and other current liabilities |
21,199 |
|
|
18,840 |
|
Total current liabilities |
31,059 |
|
|
27,914 |
|
Other long-term liabilities |
404 |
|
|
398 |
|
Deferred tax liability |
- |
|
|
6,436 |
|
Lease liabilities |
26,904 |
|
|
28,817 |
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
Common stock, $0.01 par value |
147 |
|
|
146 |
|
Additional paid-in-capital |
90,009 |
|
|
81,141 |
|
Accumulated other comprehensive loss |
(5,943 |
) |
|
(6,443 |
) |
Retained earnings |
128,052 |
|
|
210,719 |
|
Total stockholders’ equity |
212,265 |
|
|
285,563 |
|
Total liabilities and stockholders’ equity |
$ |
270,632 |
|
|
$ |
349,128 |
|
|
|
|
|
|
|
Anika Therapeutics, Inc. and
Subsidiaries |
Reconciliation of GAAP Gross Profit to Adjusted Gross
Profit |
(in thousands) |
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended December 31, |
|
For the Twelve Months Ended December 31, |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Gross Profit |
$ |
26,329 |
|
|
$ |
24,131 |
|
|
$ |
103,088 |
|
|
$ |
93,576 |
|
Product rationalization related charges |
- |
|
|
563 |
|
|
748 |
|
|
3,199 |
|
Acquisition related intangible asset amortization |
1,560 |
|
|
1,560 |
|
|
6,244 |
|
|
6,240 |
|
Adjusted Gross Profit |
$ |
27,889 |
|
|
$ |
26,254 |
|
|
$ |
110,080 |
|
|
$ |
103,015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Unadjusted Gross Margin |
61 |
% |
|
61 |
% |
|
62 |
% |
|
60 |
% |
Adjusted Gross Margin |
65 |
% |
|
66 |
% |
|
66 |
% |
|
66 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Anika Therapeutics, Inc. and
Subsidiaries |
Reconciliation of GAAP Net Income to Adjusted
EBITDA |
(in
thousands) |
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended December 31, |
|
For the Twelve Months Ended December 31, |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Net loss |
$ |
(63,000 |
) |
|
$ |
(4,908 |
) |
|
$ |
(82,667 |
) |
|
$ |
(14,859 |
) |
Interest and other (income) expense, net |
(577 |
) |
|
(276 |
) |
|
(2,312 |
) |
|
(654 |
) |
Benefit from income taxes |
(204 |
) |
|
(1,483 |
) |
|
(2,660 |
) |
|
(3,887 |
) |
Depreciation and amortization |
1,787 |
|
|
1,880 |
|
|
7,069 |
|
|
7,340 |
|
Stock-based compensation |
3,815 |
|
|
3,813 |
|
|
15,243 |
|
|
14,315 |
|
Product rationalization |
- |
|
|
563 |
|
|
748 |
|
|
3,199 |
|
Arbitration settlement |
- |
|
|
- |
|
|
3,250 |
|
|
- |
|
Acquisition related intangible asset amortization |
1,787 |
|
|
1,786 |
|
|
7,148 |
|
|
7,147 |
|
Impairment of intangible assets |
62,190 |
|
|
- |
|
|
62,190 |
|
|
- |
|
Discontinuation of software development project |
- |
|
|
- |
|
|
4,473 |
|
|
- |
|
Costs of shareholder activism |
- |
|
|
- |
|
|
3,033 |
|
|
- |
|
Adjusted EBITDA |
$ |
5,798 |
|
|
$ |
1,375 |
|
|
$ |
15,515 |
|
|
$ |
12,601 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Anika Therapeutics, Inc. and
Subsidiaries |
Reconciliation of GAAP Net Income to Adjusted Net
Income |
(in
thousands) |
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended December 31, |
|
For the Twelve Months Ended December 31, |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Net loss |
$ |
(63,000 |
) |
|
$ |
(4,908 |
) |
|
$ |
(82,667 |
) |
|
$ |
(14,859 |
) |
Product rationalization, tax effected |
- |
|
|
456 |
|
|
725 |
|
|
2,410 |
|
Arbitration settlement, tax effected |
- |
|
|
- |
|
|
3,148 |
|
|
- |
|
Acquisition related intangible asset amortization, tax
effected |
1,781 |
|
|
1,446 |
|
|
6,926 |
|
|
5,386 |
|
Impairment of intangible assets, tax effected |
61,991 |
|
|
- |
|
|
60,250 |
|
|
- |
|
Discontinuation of software development project, tax effected |
- |
|
|
- |
|
|
4,333 |
|
|
- |
|
Costs of shareholder activism, tax effected |
- |
|
|
- |
|
|
2,938 |
|
|
- |
|
Adjusted net income (loss) |
$ |
772 |
|
|
$ |
(3,006 |
) |
|
$ |
(4,347 |
) |
|
$ |
(7,063 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Anika Therapeutics, Inc. and
Subsidiaries |
Reconciliation of GAAP Diluted Earnings Per Share to
Adjusted Diluted Earnings Per
Share |
(in thousands, except per share
data) |
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended December 31, |
|
For the Twelve Months Ended December 31, |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Diluted net loss per share |
$ |
(4.30 |
) |
|
$ |
(0.34 |
) |
|
$ |
(5.64 |
) |
|
$ |
(1.02 |
) |
Product rationalization, tax effected |
- |
|
|
0.03 |
|
|
0.05 |
|
|
0.17 |
|
Arbitration settlement, tax effected |
- |
|
|
- |
|
|
0.21 |
|
|
- |
|
Acquisition related intangible asset amortization, tax
effected |
0.12 |
|
|
0.10 |
|
|
0.47 |
|
|
0.36 |
|
Impairment of intangible assets, tax effected |
4.23 |
|
|
- |
|
|
4.11 |
|
|
- |
|
Discontinuation of software development project, tax effected |
- |
|
|
- |
|
|
0.30 |
|
|
- |
|
Costs of shareholder activism, tax effected |
- |
|
|
- |
|
|
0.20 |
|
|
- |
|
Adjusted diluted net income (loss) per share |
$ |
0.05 |
|
|
$ |
(0.21 |
) |
|
$ |
(0.30 |
) |
|
$ |
(0.49 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation, tax effected |
3,803 |
|
|
3,088 |
|
|
14,767 |
|
|
10,783 |
|
Stock-based compensation (EPS impact) |
$ |
0.26 |
|
|
$ |
0.21 |
|
|
$ |
1.01 |
|
|
$ |
0.74 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Anika Therapeutics, Inc. and Subsidiaries |
Revenue by Product Family |
(in thousands, except percentages) |
(unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended December 31, |
|
For the Twelve Months Ended December 31, |
|
2023 |
|
2022 |
|
$ change |
|
% change |
|
2023 |
|
2022 |
|
$ change |
|
% change |
OA Pain Management |
$ |
25,072 |
|
$ |
22,451 |
|
$ |
2,621 |
|
|
12 |
% |
|
$ |
101,927 |
|
$ |
91,984 |
|
$ |
9,943 |
|
|
11 |
% |
Joint Preservation and
Restoration |
15,296 |
|
14,347 |
|
949 |
|
|
7 |
% |
|
54,879 |
|
50,402 |
|
4,477 |
|
|
9 |
% |
Non-Orthopedic |
2,603 |
|
2,824 |
|
(221 |
) |
|
-8 |
% |
|
9,856 |
|
13,850 |
|
(3,994 |
) |
|
-29 |
% |
Revenue |
$ |
42,971 |
|
$ |
39,622 |
|
$ |
3,349 |
|
|
8 |
% |
|
$ |
166,662 |
|
$ |
156,236 |
|
$ |
10,426 |
|
|
7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Anika Therapeutics (NASDAQ:ANIK)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
Anika Therapeutics (NASDAQ:ANIK)
Historical Stock Chart
Von Dez 2023 bis Dez 2024