Quarterly ResultApr 29, 2026, 07:07 AM
ANIK Q1 Revenue +13% to $29.6M; Adj EBITDA $4.3M; Share Buyback Done
AI Summary
Anika Therapeutics reported strong first-quarter 2026 financial results, with total revenue increasing 13% to $29.6 million, driven by growth in both Commercial and OEM Channels. Gross margin improved significantly to 64.2%, leading to adjusted EBITDA of $4.3 million. The company also completed its $15 million share repurchase program and maintained its full-year 2026 guidance. Additionally, two directors, Dr. Glenn Larsen and Bill Jellison, will step down at the 2026 Annual Meeting.
Key Highlights
- Completed $15 million 10b5-1 share repurchase at an average price of $10.76 per share.
- Two directors, Dr. Glenn Larsen and Bill Jellison, will step down at the 2026 Annual Meeting.
- Total revenue increased 13% year-over-year to $29.6 million in Q1 2026.
- Gross margin improved to 64.2%, an 8-point increase from the prior-year period.
- Adjusted EBITDA was $4.3 million, significantly up from $0.1 million in Q1 2025.
- GAAP loss from continuing operations was $5.1 million, or ($0.37) per diluted share.
- Maintained fiscal 2026 revenue guidance between $114 million and $122.5 million.