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Jun 30, 2024
Anika Q2 2024 Earnings Report
Reported financial results for the second quarter ended June 30, 2024.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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