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Dec 31, 2022
Anika Q4 2022 Earnings Report
Delivered fourth quarter revenue growth and continued to benefit from the strength of OA Pain Management business.
Key Takeaways
Anika Therapeutics reported strong operational and financial performance in Q4 2022, with revenue growth driven by its market-leading OA Pain Management business and investments in new products across regenerative, sports medicine, and joint solutions.
Delivered fourth quarter revenue growth of 11% and full year 2022 revenue growth of 6%.
Completed first surgeries and initiated limited market release of new RevoMotion™ Reverse Shoulder Arthroplasty System.
Commenced full market release of X-Twist™ Fixation System in Sports Medicine.
Hyalofast®, Anika’s Off-the-Shelf Single-Stage Cartilage Repair Product, Designated as a Breakthrough Device by FDA; Pivotal Phase III Clinical Trial Approaching Full Enrollment, with 199 Enrolled out of 200.
Anika
Anika
Forward Guidance
The Company expects its overall revenue for fiscal year 2023 to be between $158 million and $163 million, representing growth of 1% to 4% compared to 2022, as growth in OA Pain Management and Joint Preservation and Restoration is offset by lower ancillary Non-Orthopedic revenues*.