| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 29.61 | 13.1% |
| Total Income | 29.61 | 13.1% |
| Expenditure | 24.49 | 29.1% |
| PBT | -4.82 | 24.6% |
| Net Profit | -5.06 | 3.9% |
| OPM | -18.53% | 2.16pp |
| NPM | -17.07% | 1.55pp |
| EPS | -0.37 | 8.8% |
Anika Reports First Quarter 2026 Revenue $29.6 Million, Up 13% YoY
03 May 2026 · 3 May, 6:20 pm
Summary
Anika Therapeutics reported a strong start to 2026, with total revenue for the first quarter reaching $29.6 million, a 13% increase compared to the prior-year period. This growth was driven by strength in both the OEM and Commercial Channels. Gross margin improved significantly to 64.2%, reflecting improved operational execution and favorable product mix. Adjusted EBITDA also saw substantial improvement, reaching $4.3 million. The company is maintaining its previously provided 2026 guidance.
Key Highlights
- 1
Anika's total company revenue grew by 13% to $29.6 million in the first quarter of 2026.
- 2
OEM Channel revenue increased by 14% to $17.0 million year-over-year.
- 3
Commercial Channel revenue increased by 12% to $12.6 million year-over-year.
- 4
Gross margin improved to 64.2%, an increase of 8 percentage points compared to the first quarter of 2025.
- 5
Adjusted EBITDA for the first quarter of 2026 was $4.3 million, compared to $0.1 million in the prior year.
- 6
International OA Pain Management grew 9% in the first quarter reaching $8.9 million.
- 7
Integrity U.S. sales execution drove a 35% increase in procedures year over year, generating $1.8 million in revenue.
Management Comments
Steve Griffin
Our strategic transformation and organizational realignment is yielding results and driving improved profitability and efficiencies throughout the organization. We delivered a strong start to 2026, highlighted by double-digit revenue growth and gross margin expansion, which improved adjusted EBITDA. These results were led by strong growth in our Commercial Channel with Regenerative Solutions increasing 20% year over year, driven by 35% US procedure growth from Integrity, which generated $1.8 million in revenue during the quarter. In addition, OEM Channel performance reflected a combination of favorable order timing, lower 2025 sales volume, and solid execution by our teams to start 2026, contributing to a 14% revenue increase year over year. Our margin performance in the first quarter demonstrates the leverage in our business model as volume scales and operational initiatives take hold, including the deployment of lean manufacturing principles that are enabling our teams to increase throughput and drive improved performance. These initiatives are designed to support our operations as we advance our portfolio through FDA review and position the company to scale production in anticipation of future growth. At the same time, we continue to make targeted investments across our regenerative pipeline and commercial business to position Anika for sustainable, profitable long-term growth.”
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