Anika Therapeutics Inc. · NASDAQ:ANIK
Anika Therapeutics — Q4 2020 Earnings Presentation
15 slides from Anika Therapeutics's earnings presentation, Mar 4, 2021
Slide 1: Fourth Quarter and Year-End 2020 Earnings Call Presentation
FOURTH QUARTER AND YEAR-END 2020 EARNINGS CALL PRESENTATION March 4, 2021 ANIKA. RESTORE ACTIVE LIVING.
Slide 2: Safe Harbor Statements
SAFE HARBOR STATEMENTS Cautionary Note on Forward-looking Statements The statements made in, and during the course of, this presentation that are not statements of historical fact, including those related to the Company’s commercial capabilities, initiatives and production, its product pipeline and
Slide 3: Q4 2020 Highlights
Q4 2020 HIGHLIGHTS Completed transformative year with Q4 2020 revenue growth of 10% over Q4 2019 Growing momentum for Joint Preservation and Restoration through our global commercial organization and distribution networks Generated positive adjusted EBITDA1 and positive operating cash flow R
Slide 4: Full Year 2020 Highlights
FULL YEAR 2020 HIGHLIGHTS EXECUTING ON OUR TRANSFORMATION STRATEGY Successfully navigated business through COVID pandemic delivering 14% revenue growth for the year with positive adjusted EBITDA and positive operating cash flow Completed transformative acquisitions of Arthrosurface and Parcus Me
Slide 5: Anika's Transformation Strategy
ANIKA’S TRANSFORMATION STRATEGY Double revenue by 20241 with double digit adjusted EBITDA growth • Expand market opportunity from $1B to over $8 billion • Sustain #1position in osteoarthritis pain management injectables market in U.S. • Strengthened commercial organization will deliver differentiate
Slide 6: Expanding Market Opportunity in Joint Preservation
EXPANDING MARKET OPPORTUNITY IN JOINT PRESERVATION Anika Portfolio >$8B Global Market Extremities Opportunity 1 Bone Preserving Joint Technologies WristMotion Hemi Arthroplasty > $4B Upper and Lower Extremity Implants WristMotion Total Arthroplasty Shoulder, Foot and Ankle implants Soft Tissue Repai
Slide 7: Q4 2020 Financial Highlights
Q4 2020 FINANCIAL HIGHLIGHTS Total Revenue Product Family Revenue $29.8 $32.7 40% $98.3 million 10% 89% 52% Cash & Investments as of Dec. 31, 2020 Q4 2019 Q4 2020 Q4 2019 Q4 2020 Dollars in millions Joint Pain Mgmt Joint Preservation/Restoration Other • Total revenue increased 10% and diversificatio
Slide 8: Directional Outlook
DIRECTIONAL OUTLOOK POSITIONED FOR GROWTH IN 2021 AND ON TRACK FOR 2024 TARGETS • Due to the continued uncertainty associated with COVID, detailed financial guidance for the first quarter and full year 2021 is not provided at this time • Qualitative and directional quantitative outlook subject to ch
Slide 9: Our Mission
OUR MISSION Powered by our passionate team, we partner with clinicians to create and provide meaningful advancements in early intervention orthopedic care. We are unwavering in our commitment to quality and compliance as we develop and commercialize solutions that restore active living for people ar
Slide 10: Non-GAAP Reconciliation and Supplemental Data
NON-GAAP RECONCILIATION AND SUPPLEMENTAL DATA 10
Slide 11: Reconciliation Tables – GAAP Net Income to EBITDA
RECONCILIATION TABLES – GAAP NET INCOME TO EBITDA Anika Therapeutics, Inc. and Subsidiaries Reconciliation of GAAP Net Income to Adjusted EBITDA (in thousands, except per share data) (unaudited) For the Three Months Ended December 31, For the Year Ended December 31, in thousands, except per share da
Slide 12: Reconciliation Tables – GAAP Net Income to Adjusted Net Income
RECONCILIATION TABLES – GAAP NET INCOME TO ADJUSTED NET INCOME Anika Therapeutics, Inc. and Subsidiaries Reconciliation of GAAP Net Income to Adjusted Net Income (in thousands, except per share data) (unaudited) For the Three Months Ended December 31, For the Year Ended December 31, in thousands, ex
Slide 13: Reconciliation Tables – GAAP EPS to Adjusted EPS
RECONCILIATION TABLES – GAAP EPS TO ADJUSTED EPS Anika Therapeutics, Inc. and Subsidiaries Reconciliation of GAAP Diluted Earnings Per Share to Adjusted Diluted Earnings Per Share (per share data) (unaudited) For the Three Months Ended December 31, For the Year Ended December 31, in thousands, excep
Slide 14: Product Family Revenue and Gross Margin
PRODUCT FAMILY REVENUE AND GROSS MARGIN Revenue by Product Family and Gross Margin (in thousands, except percentages) (unaudited) For the Three Months Ended December 31, For the Year Ended December 31, 2020 % 2019 % 2020 % 2019 % Joint Pain Management $ 16,861 52% $ 26,403 89% $ 83,029 64% $ 103,466
Slide 15: Revenue by Geographic Region
REVENUE BY GEOGRAPHIC REGION Total Revenue by Geographic Region (in thousands, except percentages) (unaudited) For the Three Months Ended December 31 For the Year Ended December 31, 2020 % 2019 % 2020 % 2019 % United States $ 25,334 78% $ 23,764 80% $ 103,182 79% $ 90,302 78% Europe 3,039 9% 3,348 1