Anika Q1 revenue $36.7M (+7% YoY); net loss ($2.9M) vs. income; reaffirms FY22 growth

Anika Therapeutics, Inc.

2022-Q1 EPS reported -$0.20 revenue$36,693,000

OA Pain Management revenue $22.7M (+18% YoY); Joint Preservation & Restoration $12.1M (-1%).
Net loss ($2.9M), ($0.20) per share vs. net income $2.8M ($0.20 diluted) in prior year.
Adjusted net loss ($1.6M), adjusted gross margin 64% (down YoY) due to supply chain/challenges.
Cash $90.3M; FY2022 revenue expected toward upper end of low-to-mid single digit growth.
Appointed Rob Delp as VP U.S. Sales; he previously led Americas for Zimmer Biomet.

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