{"id":986315,"date":"2026-07-29T07:21:36","date_gmt":"2026-07-29T11:21:36","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/anika-reports-second-quarter-2026-financial-results\/"},"modified":"2026-07-29T07:21:36","modified_gmt":"2026-07-29T11:21:36","slug":"anika-reports-second-quarter-2026-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/anika-reports-second-quarter-2026-financial-results\/","title":{"rendered":"Anika Reports Second Quarter 2026 Financial Results"},"content":{"rendered":"
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Commercial Channel Revenue Increased 17% to a Record $13.9 Million<\/p>\n

Delivered $3.3 Million of Net Income, 65% Gross Margin, and $7.1 Million of Adjusted EBITDA, Highest Since 2020<\/p>\n

Raising Full-Year 2026 Financial Guidance and Revising 2027 Revenue Forecast<\/p>\n

BEDFORD, Mass., July 29, 2026 (GLOBE NEWSWIRE) — Anika Therapeutics, Inc. (Nasdaq: ANIK), a global leader in the osteoarthritis (“OA”) pain management and regenerative solutions spaces focused on early-intervention orthopedics, today announced financial results for the second quarter of 2026.<\/p>\n

Total revenue for the second quarter was\u00a0$32.6 million, compared to\u00a0<\/strong>$28.2 million\u00a0in the prior-year period. Performance was driven by record Commercial Channel revenue of\u00a0$13.9 million, <\/strong>representing organic growth of\u00a0<\/strong>17% year-over-year, <\/strong>and continued strength in the OEM Channel supported by favorable US Monovisc and Orthovisc sales.<\/p>\n

Gross profit for the second quarter was\u00a0<\/strong>$21.2 million, <\/strong>compared to\u00a0<\/strong>$14.4 million\u00a0in the prior-year period. Gross margin expanded to\u00a065%,<\/strong> reflecting higher sales volume, increased manufacturing production and improved sales mix.<\/p>\n

Total operating expenses were\u00a0$18.3 million, compared to\u00a0$18.5 million\u00a0in the prior-year period. Operating expense performance reflected continued cost discipline across the business while maintaining targeted investments to support commercial growth and strategic development programs. Excluding approximately $0.8 million of one-time severance-related expenses, adjusted operating expenses were $17.5 million, representing a decline of 6% versus the prior-year period.<\/p>\n

Net income was $3.3 million for the second quarter, representing a 10% margin. Adjusted EBITDA was\u00a0$7.1 million, representing a\u00a022% Adjusted EBITDA margin reflecting continued benefits from commercial growth, gross margin expansion, and disciplined expense management.<\/p>\n

“Our second quarter results mark a positive step forward in improving the performance of our business. We achieved record Commercial Channel revenue, substantial gross margin expansion, and our highest adjusted EBITDA since 2020. The actions we initiated earlier this year are delivering early gains as we continue to drive operational excellence throughout the Company. Additionally, our growth has diversified across channels and geographies, highlighted by a record quarter of international revenue.\u201d said Steve Griffin, President and Chief Executive Officer.<\/p>\n

\u201cOur OEM business continues to perform well, supported by stronger transfer unit volumes driven by J&J DePuy Synthes, order timing across both the Monovisc and Orthovisc product lines, favorable U.S. Monovisc end market sales, and continued international growth. These drivers increased production, throughput and manufacturing yields, resulting in meaningful gross margin expansion and operating leverage. Combined with disciplined expense management, a 20% reduction in G&A expenses (or 30% excluding one-time severance-related charges), and lower stock-based compensation expense, these improvements are translating into meaningful profitability gains.<\/p>\n

Given our first-half performance, we are raising our full-year financial outlook. Most notably, we are raising our adjusted EBITDA margin outlook to 13%-17%, driven by improved operating leverage. Our improved outlook is supported by favorable OEM sales trends, continued Commercial Channel growth, operational improvements, and disciplined cost management. While we expect some moderation in revenue and profitability during the second half relative to the strong first half, reflecting the timing of certain OEM orders, we remain encouraged by the underlying trends in the business and our ability to deliver improved full-year performance. We are still early in our company-wide transformation, yet the results achieved in the first half reinforce that our strategy is working and that disciplined execution against our mission is creating sustainable value.<\/p>\n

As we continue to advance toward filing the Cingal New Drug Application (\u201cNDA\u201d) we\u2019re making steady progress on the bioequivalence study for Triamcinolone Hexacetonide and are accelerating the necessary Chemistry, Manufacturing and Controls (\u201cCMC\u201d), activities required to file Cingal as a drug-drug combination product. Additionally, we remain actively engaged with the U.S. Food and Drug Administration (\u201cFDA\u201d) on Hyalofast, with discussions focusing primarily on the co-primary clinical endpoints within the Premarket Approval (\u201cPMA\u201d) submission.<\/p>\n

Given the timing uncertainty that remains in our regulatory review process, particularly as our discussions with the FDA on Hyalofast evolve, we are adopting a new revenue guidance practice. Going forward, our forecast will only include revenue from products that have received regulatory approval or clearance. As a result, our 2027 Commercial Channel revenue guidance no longer includes revenue associated with Hyalofast.\u201d<\/p>\n

\n Second Quarter 2026 Business Highlights and Updates<\/strong>\n <\/p>\n