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Mar 31, 2020
Anika Q1 2020 Earnings Report
Anika's Q1 2020 financial results were reported with a 43% year-over-year increase in total revenue.
Key Takeaways
Anika Therapeutics reported solid first-quarter results, with total revenue increasing by 43% year-over-year. The company completed the acquisitions of Parcus Medical and Arthrosurface and strengthened its executive leadership team. Due to the COVID-19 pandemic, Anika has withdrawn its full-year 2020 financial guidance but is well-positioned to manage through the challenges.
Total revenue increased 43% year-over-year.
Completed the acquisitions of Parcus Medical and Arthrosurface.
Withdrew full-year 2020 financial guidance due to COVID-19.
Drew down $50.0 million on its existing credit facility to strengthen liquidity.
Forward Guidance
Due to the evolving and uncertain impact of the COVID-19 pandemic, Anika is withdrawing its previously announced financial guidance for the full year of 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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