Anika Q2 revenue $41.9M (-5% YoY); net loss $0.1M; launches Integrity Implant System

Anika Therapeutics, Inc.

2024-Q2 EPS reported -$0.31 revenue$82,444,000

Revenue $41.9M, down 5% YoY; OA Pain Mgmt $26.7M (-9%), Joint Preservation $13.5M (+7%).
Net loss $0.1M ($0.01/sh); adjusted net income $2.5M ($0.17/sh); adjusted EBITDA $6.3M.
Full market release of Integrity Implant System (HA scaffold) in July; >300 cases by >60 surgeons.
Guidance: FY2024 revenue $168-$173M (1-4% growth); adjusted EBITDA towards lower end of $25-$30M.
New $40M share repurchase program; $15M under 10b5-1 plan initiated May 2024.

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