Anika Q2 2024 Earnings Report
Key Takeaways
Anika Therapeutics reported their Q2 2024 financial results, highlighting the full market release of the Integrity™ Implant System and a 17% growth in international OA Pain Management revenue during the first half of 2024. The company also announced a new $40 million share repurchase program and is optimizing spending to support growth.
Expanded Regenerative Solutions portfolio with full market release of the Integrity™ Implant System, generating significant market demand.
Delivered revenue in line with expectations with 15% adjusted EBITDA margins.
Experienced strong first half 2024 international OA Pain Management revenue growth of 17%.
Enhanced capital allocation strategy with a new $40 million share repurchase program announced in May 2024.
Anika
Anika
Forward Guidance
Anika expects revenue for fiscal year 2024 to be in the range of $168 to $173 million, representing growth of 1% to 4% compared to 2023. The Company expects 2024 adjusted EBITDA to be towards the lower end of the previously provided range of $25 to $30 million, approximately 15% adjusted EBITDA margin.