AI Earnings Predictions for Anika Therapeutics Inc. (ANIK)

EX-99.1

2 exh_991.htm

PRESS RELEASE

EdgarFiling

EXHIBIT 99.1

Anika Reports First Quarter 2026 Financial Results

Grew total company revenue 13%, driven by Commercial Channel strength and favorable OEM Channel order timing

Delivered 64% gross margin, +8 points year over year, driven by improved operational execution

Operational transformation generating early wins, delivering $4 million of adjusted EBITDA

BEDFORD, Mass., April 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 first quarter of 2026.

Total revenue for the first quarter of 2026 was $29.6 million, compared to $26.2 million in the prior-year period, representing growth of 13%. Growth was driven by strength across both channels, with OEM Channel revenue of $17.0 million, up 14%, and Commercial Channel revenue of $12.6 million, up 12% year-over-year.

Gross profit for the first quarter was $19.0 million, compared to $14.7 million in the prior-year period. Gross margin improved to 64.2%, compared to 56.1% in the first quarter of 2025, driven by operational execution, ongoing margin improvement initiatives and favorable product mix.

Total operating expenses were $24.5 million, compared to $19.0 million in the prior-year period, primarily reflecting $4.9 million of one-time severance costs. Remaining increases were largely related to investments in operations and research and development expenses to support ongoing programs.

Adjusted EBITDA for the first quarter of 2026 was $4.3 million, compared to $0.1 million in the first quarter of 2025, reflecting strong gross margin expansion and disciplined operational execution.

“Our strategic transformation and organizational realignment is yielding results and driving improved profitability and efficiencies throughout the organization,” said Steve Griffin, President and Chief Executive Officer of Anika Therapeutics. “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.”

First Quarter 2026 Business Highlights and Current Business Updates

International OA Pain Management grew 9% in the first quarter reaching $8.9 million, led by continued regional expansion and improved market share. Integrity continued to demonstrate strong momentum, with U.S. sales execution driving a 35% increase in procedures year over year and generating $1.8 million in revenue. Growth was driven by sustained surgeon adoption in the U.S., the successful launch of larger Integrity sizes that expand addressable tendon applications, and increasing international penetration. Hyalofast PMA engagement with FDA continues to progress and review timeline remains in line with the previously provided timeline. Cingal bioequivalence study enrollment remains on track in preparation for an FDA NDA submission including necessary CMC work to support HA as a drug. OEM channel year over year growth driven by order timing of non-orthopedic and US OA Pain Management products including continued strong Monovisc demand Targeted operational investments improving productivity, discipline, and scalability First Quarter 2026 Continuing Operations Financial Summary

Revenue $29.6 million, up 13% year over year Commercial Channel revenue $12.6 million, up 12% OEM Channel revenue $17.0 million, up 14% Gross margin 64.2% Operating expenses $24.5 million, including $4.9 million of one-time severance expenses GAAP loss from continuing operations $5.1 million, ($0.37) per diluted share Adjusted net income from continuing operations1 $3.8 million, $0.27 per diluted share Adjusted EBITDA1 $4.3 million Cash and cash equivalents $41.0 million as of March 31, 2026

1 See description of non-GAAP fin

8-K

false 0000898437 0000898437 2026-02-26 2026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 26, 2026

Anika Therapeutics, Inc. (Exact name of registrant as specified in its charter)

Delaware

001-14027

04-3145961

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

32 Wiggins Avenue Bedford, Massachusetts 01730 (Address of Principal Executive Offices) (Zip Code) (781) 457-9000 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

ANIK

NASDAQ Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On February 26, 2026, Anika Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2025. The full text of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference. The information contained in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 26, 2026, the Company and Mr. Colleran entered into a Transitional Services and General Release of Claims Agreement (the “Transition Agreement”). Pursuant to the Transition Agreement, Mr. Colleran will continue to be employed by the Company as its Executive Vice President, General Counsel and Corporate Secretary through May 1, 2026 (the “Anticipated Separation Date”), unless Mr. Colleran resigns or is terminated for Cause (as defined in the Transition Agreement) prior to that date. Until the Anticipated Separation Date, Mr. Colleran will continue to provide his existing services to the Company and such other services as the Chief Executive Officer or the Chief Executive Officer’s designee requests, and will receive his current salary and benefits as a regular employee, except Mr. Colleran will not accrue vacation during such period. The Transition Agreement also provides that, provided Mr. Colleran fully complies with the Transition Agreement, is not terminated for Cause or breach and does not resign, and signs and returns the certificate attached to the Transition Agreement within the 7 days following the Anticipated Separation Date, the Company shall pay Mr. Colleran the consideration provided in Sections 4(b) or 5(a) of his Executive Retention Agreement, dated as of December 12, 2024 (the “ERA”), as applicable in accordance with the payment terms described in the ERA. Mr. Colleran continues to be bound by the terms and conditions of the Confidentiality and Proprietary Rights Agreement. Mr. Colleran’s equity awards granted under the Company’s Omnibus Incentive Plan shall continue to vest during the Transition Period, subject to the applicable equity agreements and the Company’s equity plan. Additionally, in consideration of the separation pay and benefits provided under the ERA, Mr. Colleran has provided the Company, its affiliates and related parties with a general release of claims. The foregoing d

8-K

false 0000898437 0000898437 2026-01-07 2026-01-07

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 7, 2026

Anika Therapeutics, Inc. (Exact name of registrant as specified in its charter)

Delaware

001-14027

04-3145961

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.) 32 Wiggins Avenue Bedford, Massachusetts 01730 (Address of Principal Executive Offices) (Zip Code) (781) 457-9000 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

ANIK

NASDAQ Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On January 8, 2026, Anika Therapeutics, Inc. (the “Company”) issued a press release and reaffirmed guidance for the year ended on December 31, 2025. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1. As previously announced, the Company expects 2025 revenue ranges by channel as follows:

•

Commercial Channel, unchanged, of $47 to $49.5 million, up 12% to 18% year over year.

•

OEM Channel, unchanged, of $62 to $65 million, down 16% to 20% year over year.

In addition, the Company expects Adjusted EBITDA as a percent of revenue to be positive 3% to negative 3%. The information contained in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

President and Chief Executive Officer Transition On January 8, 2026, the Company announced that, effective February 1, 2026 (the “Transition Date”), Cheryl R. Blanchard will transition from her role as President and Chief Executive Officer. Dr. Blanchard will transition into the role of Executive Chair of the Company’s Board of Directors (“Board”) for a period of twelve (12) months through January 31, 2027. Following her service as Executive Chair, Dr. Blanchard will serve as a Special Advisor to the Board for a period of six (6) months through July 31, 2027. Following her service as Special Advisor to the Board, Dr. Blanchard will remain as an employee of the Company for a period of six (6) months, concluding on January 31, 2028 (the “Anticipated Separation Date”), and continue to serve on the Board as a director through the 2028 Annual Meeting. On January 8, 2026, the Company announced that Steve Griffin, currently serving as Executive Vice President, Chief Financial Officer and Chief Operating Officer, has been appointed by the Board to serve as the Company’s President and Chief Executive Officer, effective as of February 1, 2026. In connection with his appointment as President and Chief Executive Officer, Mr. Griffin will replace Dr. Blanchard as the Company’s principal executive officer and will continue to act as the Company’s principal financial officer. On January 7, 2026, the Company and Dr. Blanchard entered into a Transitional Services and Separation Agreement (the “Transition Agreement”). Pursuant to the Transition Agreement, Dr. Blanchard will step down from her role as the Company’s P