Anika Therapeutics Inc. · NASDAQ:ANIK
Anika Therapeutics — Q3 2025 Earnings Presentation
16 slides from Anika Therapeutics's earnings presentation, Nov 5, 2025
Slide 1: Q3 2025 Earnings Call
Q3 2025 EARNINGS CALL NOVEMBER 5, 2025 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: Company Highlights
COMPANY HIGHLIGHTS STRATEGIC FOCUS DRIVING COMMERCIAL GROWTH AND PIPELINE ADVANCEMENT Commercial Update Pipeline Progress Financial and Strategic Outlook • Commercial Channel Revenue up • Launched the new larger Integrity • Commercial and OEM Channels in line 22% Y/Y shapes and sizes for Achilles an
Slide 4: Integrity Unit Sales Update
INTEGRITY UNIT SALES UPDATE Integrity Unit Sales Since Launch ~500 • Continues to outpace the U.S. $220M soft tissue augmentation market1 • ~500 cases in Q3 bringing number of surgeon users to nearly 300 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 • On pace to more than double procedures and US OUS reve
Slide 5: Q3 2025 Financial Highlights
Q3 2025 FINANCIAL HIGHLIGHTS $M, except per share data CONTINUING OPERATIONS 3Q25 Continuing Operations Highlights Q3 Financial Results 2025 VPY • Revenue decreased by 6% to $27.8M driven by 20% Revenue $27.8 (6%) decrease in OEM Revenue due to lower pricing both in transfer units and royalties on M
Slide 6: 2025 Guidance
2025 GUIDANCE $M 2021 2022 2023 2024 2025 Est 1 2026 Est 1 2027 Est 1 Commercial Revenue • International OA Pain +17% 3-Year CAGR • Global Regenerative Solutions • US Hyalofast (2027) $47-49.5 +10-20% +10-20% $32 $36 $42 +12-18% $26 OEM Revenue • US OA Pain though J&J • Non-Orthopedic Solutions $81
Slide 7: Strategies to Deliver Shareholder Value
3 STRATEGIES TO DELIVER SHAREHOLDER VALUE Near-Term: Deliver market leading OA Pain Management products and achieve full potential of Integrity (2025) Implant System in high-growth $220M tendon augmentation TAM Mid-Term: Obtain FDA approval and successfully launch Hyalofast in Anika’s Commercial Cha
Slide 8: @ Anika
@ Anika
Slide 9: Non-GAAP Reconciliation and Supplemental Data
NON-GAAP RECONCILIATION AND SUPPLEMENTAL DATA 9
Slide 10: Statement of Operations
STATEMENT OF OPERATIONS Anika Therapeutics, Inc. and Subsidiaries Consolidated Statements of Operations (in thousands, except per share data) (unaudited) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2025 2024 2025 2024 Revenue $ 27,817 $ 29,559 $ 82,204 $ 89,305 C
Slide 11: Balance Sheet
BALANCE SHEET Anika Therapeutics, Inc. and Subsidiaries Consolidated Balance Sheets (in thousands, except per share data) (unaudited) September 30, December 31, ASSETS 2025 2024 Current assets: Cash and cash equivalents $ 57,990 $ 55,629 Accounts receivable, net 22,187 23,594 Inventories, net 16,284
Slide 12: Reconciliation Tables – GAAP Net Loss to Adjusted EBITDA
RECONCILIATION TABLES – GAAP NET LOSS TO ADJUSTED EBITDA 12
Slide 13: Reconciliation Tables – GAAP Net Income to Adjusted Net Income
RECONCILIATION TABLES – GAAP NET INCOME TO ADJUSTED NET INCOME 13
Slide 14: Reconciliation Tables – GAAP EPS to Adjusted EPS
RECONCILIATION TABLES – GAAP EPS TO ADJUSTED EPS 14
Slide 15: Revenue by Channel
REVENUE BY CHANNEL Anika Therapeutics, Inc. and Subsidiaries Revenue by Product Family (in thousands, except percentages) (unaudited) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2025 2024 $ change % change 2025 2024 $ change % change OEM Channel $ 15,844 $ 19,764
Slide 16: @ Anika
@ Anika