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Mar 31, 2022
Anika Q1 2022 Earnings Report
Anika reported a 7% year-over-year revenue growth in the first quarter, driven by favorable order timing in OA Pain Management.
Key Takeaways
Anika Therapeutics reported a strong start to 2022 with a 7% year-over-year revenue growth. The company is experiencing healthy demand for OA Pain Management products and growing demand for the Joint Preservation and Restoration portfolio. They are ramping up medical education activities and planning new product introductions.
First quarter revenue growth of 7% year-over-year.
Growth driven by favorable order timing in OA Pain Management.
Continued healthy demand for OA Pain Management products.
Growing demand for Joint Preservation and Restoration portfolio.
Anika
Anika
Forward Guidance
The Company expects its overall revenue for fiscal year 2022 to be toward the upper end of its guidance range of low to mid-single digit percent growth compared with 2021.
Challenges Ahead
- Volatility and uncertainty in the global macroeconomic environment.
- Staffing shortages.
- Supply chain disruption.
- Inflation.
- Direct and indirect impacts of the COVID pandemic.