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Anika Therapeutics, Inc., a joint preservation company, focuses on early intervention orthopedics in the United States, Europe, and internationally. The company offers osteoarthritis (OA) pain management products and services, such as Monovisc and Orthovisc, which are single- and multi-injection, HA viscosupplement products indicated for pain relief from OA conditions, as well as Cingal, a non-opioid, single-injection OA pain management product; regenerative solutions, including an HA-based scaffold with bone and tendon fixation components and arthroscopic delivery instruments; Hyalofast, a resorbable scaffold used for single stage cartilage regeneration; and Tactoset injectable bone substitute, an HA-enhanced injectable bone repair therapy designed to treat insufficiency fractures and augment hardware fixation. It also provides Integrity, an HA-based scaffold with bone and tendon fixation components and arthroscopic delivery instruments; non-orthopedic products, including Hyvisc, a high molecular weight injectable HA veterinary product for the treatment of joint dysfunction in horses due to non-infectious synovitis associated with equine OA; Hyalobarrier, an anti-adhesion barrier indicated for use after abdominal-pelvic surgeries; and ophthalmic products; and Anikavisc and Nuvisc high molecular weight HA products. The company was founded in 1983 and is headquartered in Bedford, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $113M | $-5M | $-11M | $4M | -7.6% | -5.9% | - |
| 2024 | $120M | $3M | $-56M | $-3M | -36.6% | -0.7% | - |
| 2023 | $121M | $15M | $-83M | $-7M | -38.9% | 6.1% | - |
| 2022 | $114M | $18M | $-15M | $-3M | -5.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 113.83 | 120.79 | 119.91 | 112.82 |
| Cost Of Revenue | 40.61 | 38.26 | 43.91 | 49.01 |
| Gross Profit | 73.22 | 82.53 | 76 | 63.81 |
| Operating Expense | 69.55 | 81.69 | 81.10 | 74.86 |
| Operating Income | 3.67 | 0.84 | -5.10 | -11.05 |
| EBITDA | 18.16 | 15.06 | 3.02 | -5.32 |
| EBIT | 3.67 | 0.84 | -5.10 | -11.05 |
| Pretax Income | 4.32 | 3.16 | -2.76 | -9.31 |
| Tax Provision | 2.12 | 6.59 | 6.06 | 0.67 |
| Net Income | -14.86 | -82.67 | -56.38 | -10.88 |
| Net Income Common Stockholders | -14.86 | -82.67 | -56.38 | -10.88 |
| Total Expenses | 110.16 | 119.95 | 125.01 | 123.87 |
| Research And Development | 18.32 | 21.76 | 25.54 | 25.77 |
| Selling General And Administration | 51.23 | 59.92 | 55.55 | 49.09 |
| Normalized EBITDA | 18.16 | 15.06 | 3.02 | -5.32 |
| Normalized Income | 2.20 | -3.44 | -8.83 | -9.98 |
| Basic EPS | -1.02 | -5.64 | -3.83 | 0 |
| Diluted EPS | -1.02 | -5.64 | -3.83 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | 0 | -62.19 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | -62.19 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 2.20 | -3.44 | -8.83 | -9.98 |
| Reconciled Depreciation | 14.49 | 14.22 | 8.12 | 5.73 |
| Reconciled Cost Of Revenue | 40.61 | 38.26 | 43.91 | 49.01 |
| Net Interest Income | 0.65 | 2.31 | 2.34 | 1.74 |
| Net Income From Continuing And Discontinued Operation | -14.86 | -82.67 | -56.38 | -10.88 |
| Total Operating Income As Reported | 3.67 | 0.84 | -5.10 | -11.05 |
| Diluted Average Shares | 14.56 | 14.66 | 14.72 | 0 |
| Basic Average Shares | 14.56 | 14.66 | 14.72 | 0 |
| Diluted NI Availto Com Stockholders | -14.86 | -82.67 | -56.38 | -10.88 |
| Net Income Including Noncontrolling Interests | -14.86 | -82.67 | -56.38 | -10.88 |
| Net Income Discontinuous Operations | -17.06 | -79.23 | -47.56 | -0.90 |
| Net Income Continuous Operations | 2.20 | -3.44 | -8.83 | -9.98 |
| Other Income Expense | 0 | -62.19 | 0 | 0 |
| Special Income Charges | 0 | -62.19 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 62.19 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | 0.65 | 2.31 | 2.34 | 1.74 |
| Total Other Finance Cost | -0.65 | -2.31 | -2.34 | -1.74 |
| Operating Revenue | 113.83 | 120.79 | 119.91 | 112.82 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Anika Therapeutics, Inc.this co. | ANIK | $165M | - | 1.20 | -7.6% | -31.67 |
| AirSculpt Technologies, Inc. | AIRS | $179M | - | 1.87 | -13.3% | 32.00 |
| Stereotaxis, Inc. | STXS | $177M | - | 12.91 | -115.6% | -9.48 |
| Tonix Pharmaceuticals Holding Corp. | TNXP | $176M | - | 0.65 | -50.6% | 0.32 |
| Alpha Teknova, Inc. | TKNO | $173M |
| - |
| 2.52 |
| -25.1% |
| -17.76 |
| Protalix BioTherapeutics, Inc. | PLX | $171M | - | 3.53 | -13.7% | -36.89 |
| Sanara MedTech Inc. | SMTI | $167M | - | 27.41 | -633.5% | 16.81 |
| Journey Medical Corporation | DERM | $166M | - | 4.26 | -35.9% | -35.25 |
| Pro-Dex, Inc. | PDEX | $160M | 14.62 | 3.84 | 24.5% | 12.89 |
| Peer Median | - | 14.62 | 3.69 | -30.5% | -4.58 | |