Anika Therapeutics Q1 revenue up 7% to $40.5M; narrows net loss; reaffirms FY2024 guidance

Anika Therapeutics, Inc.

2024-Q1 EPS reported -$0.31 revenue$40,523,000

Q1 revenue $40.5M (+7% YoY); net loss narrowed to $4.5M from $10.4M; adjusted net income $1.2M ($0.09/dil share).
Adjusted EBITDA improved to $2.5M from ($1.2M) in Q1 2023; FY2024 adj EBITDA guidance $25-30M (midpoint up >75%).
Cost reduction initiatives completed, achieving $10M annualized savings; severance costs $0.8M in Q1.
Business highlights: extended Canadian distribution deal through 2030; >10,000 X-Twist anchors sold; Integrity Implant >200 cases.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Anika Therapeutics, Inc. reported first quarter ended March 31, 2024 results: revenue $40.5 million, net income $(4.5) million, or ($0.31) per share, EPS $0.09 per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $40.5 million
Net income: $(4.5) million, or ($0.31) per share
EPS: $0.09 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

orthopedics, today reported financial results for its first quarter ended March 31, 2024. First Quarter 2024 Financial Summary Revenue in the first quarter of 2024 was $40.5 million, up 7% compared to $37.9 million in the first quarter of 2023. OA Pain Management revenue of $24.3 million, up 7% Joint Preservation and Restoration revenue of $13.8 million, up

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Source: SEC EDGAR

accession 0001171843-24-002672

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