Anika Therapeutics Inc. · NASDAQ:ANIK
Anika Therapeutics — Barrington Research Virtual Fall Investment Conference 2026
14 slides from Anika Therapeutics's conference presentation, Sep 22, 2026
Slide 1: Restore Active Living
Restore Active Living® Barrington Research Virtual Fall Investment Conference September 22, 2026 30+ years of hyaluronic acid innovation in orthopedic regenerative solutions and osteoarthritis pain management Nasdaq: ANIK | September 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements Non-GAAP Financial Measures This presentation contains forward-looking statements within the This presentation refers to adjusted gross margin, adjusted EBITDA, adjusted meaning of Section 27A and Section 21E, including statements net income, and adju
Slide 3: Investment Highlights
WHY ANIKA Investment Highlights Proven, Growing Products Hyalofast® PMA under active FDA review; IntegrityTM exceeding expectations Two Channels to Market Commercial +17% YoY; OEM +14% YoY via J&J DePuy Synthes Strong Profitability 1H26 Adj. EBITDA $11.0M (18% margin) vs. breakeven in 1H25 Fortress
Slide 4: The Global Leader in HA — Built to Scale
C O M PA N Y OV E RV I E W The Global Leader in HA — Built to Scale Three decades of HA science, vertically integrated manufacturing, and a global commercial platform — all under one roof in Bedford, MA. 30+ 134,000 sq ft Years of HA Leadership Manufacturing Footprint HA innovation since 1992 Bedfor
Slide 5: Three Priorities Driving Shareholder Value
S T RAT E G Y Three Priorities Driving Shareholder Value Accelerate Revenue Growth Strengthen Operations Advance the Pipeline • Commercial Channel +17% YoY • Gross margin +14 pts YoY to • Hyalofast PMA: active FDA to record $13.9M 65% on Lean initiatives engagement • International OA Pain: record •
Slide 6: One Platform, Two Material Forms
PORTFOLIO OVERVIEW One Platform, Two Material Forms Two material platforms — 8 products generating revenue today Cross-Linked HA Gel · Injectable · Pain Relief HYAFF® Solid Fiber · Implantable · Regeneration Hyalofast® IntegrityTM Monovisc® Orthovisc® Cartilage repair — FDA Rotator cuff & soft tissu
Slide 7: Two Channels. Two Distinct Paths to Sustainable Growth
GROWTH ENGINES Two Channels. Two Distinct Paths to Sustainable Growth Commercial Channel +17% 1H26 OEM Channel International Rev. Growth Strategic Partnerships, Profitable Economics 15+ Years of Growth 20+ Years OEM Partner Relationships Why We Win 2020 2021 2022 2023 2024 2025 2026 2027 Internation
Slide 8: Cingal: Next-Generation OA Pain Relief
C ATA LY S T Cingal: Next-Generation OA Pain Relief 72% 92% 1M+ Pain Reduction OMERACT-OARSI Doses Sold Sustained through 6+ months Responder rate at Week 26 Outside the U.S. Fast Acting Long Lasting Targets inflammation fast Durable pain relief 6+ months Safe Chondroprotective Non-opioid; repeat in
Slide 9: Q2 2026: Strong Profitability, Broad-Based Growth
FINANCIAL PERFORMANCE Q2 2026: Strong Profitability, Broad-Based Growth $32.6M 65% Total Revenue Gross Margin +16% YoY +14 pts YoY $7.1M $38.4M Adjusted EBITDA Cash, No Debt 22% margin — highest since 2020 Strong liquidity position First-Half 2026 Highlights Revenue by Channel • Revenue of $62.2M, u
Slide 10: Structural Gross Margin Expansion
O PE RAT I O N A L E XCE L L E N CE Structural Gross Margin Expansion Raw HA 51% → 65% Gross margin, Q2 2025 vs. Q2 2026 +14 points YoY — 3rd consecutive quarter above 60% Breaking Constraints Aseptic Upgrades Monovisc & Cingal capacity Improved throughput, yield, and Logistics Cross Linked HA const
Slide 11: 2026 Raised Guidance — Momentum Building
FINANCIAL OUTLOOK 2026 Raised Guidance — Momentum Building FY26 Raised Guidance Prior Raised Long-Term Revenue Trajectory Strong 2026 Revenue growth. Durable operating leverage, channel Total Revenue Growth 1% – 9% 5% – 10% diversification, and pipeline catalysts underpin continued revenue growth in
Slide 12: 6 Consecutive Years of Commercial Growth
S U S TA I N E D G RO W T H 6 Consecutive Years of Commercial Growth C O M M E R C IA L C H A N N E L A Consistent Track Record 0%–5% $121 $120 +5%–10% $107 $114 $113 +17% 5-year CAGR Revenue $95 Flat to Modestly • Annual revenue growth since 2020 0% to +5% Lower • Distributors with contractual mini
Slide 13: A Durable Franchise Driving Sustainable Growth
I N V E S T M E N T S U M M A RY A Durable Franchise Driving Sustainable Growth 30+ year global HA leader — products in 45+ Two growth engines — Commercial +17%, OEM countries +14% YoY Structural margin expansion — 65% gross Near-term catalysts — Hyalofast PMA decision margin; highest Adjusted EBITD
Slide 14: Thank You
Thank You Anika. Restore Active Living® Investor Relations Contact Matt Hall — Executive Director, Corporate Development & Investor Relations mhall@anika.com | (781) 457-9554 ir.anika.com | www.anika.com | Nasdaq: ANIK
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