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Sep 30, 2021
Anika Q3 2021 Earnings Report
Anika's third quarter results reflected progress in its transformational strategy and revenue growth despite COVID-19 headwinds.
Key Takeaways
Anika Therapeutics reported a 25% year-over-year revenue growth for the third quarter of 2021. The company has revised its revenue growth outlook for 2021 to 9-11% due to COVID Delta headwinds.
Anika made progress in its transformational strategy, establishing itself in the joint preservation and restoration markets.
The company is pleased with its third quarter results despite continued COVID-19 headwinds.
Demand for Anika's products in ambulatory surgical centers presents a significant opportunity.
Anika remains focused on its long-term strategy to double revenues by 2024, off its 2019 base, despite near-term COVID challenges.
Forward Guidance
Anika expects its overall revenue for fiscal year 2021 to grow 9-11% year-over year, compared with previous guidance of 11-14%, primarily due to the increased impact of COVID. This annual revenue growth is driven by Joint Preservation and Restoration growth in the upper-teens percent range with mid-single digit growth in Joint Pain Management. Other revenue is expected to grow mid-single digits for the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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