Published on 6 Oct 2024 on GuruFocus.com · via Yahoo Finance

Anika Therapeutics Inc (ANIK) Q2 2024 Earnings Call Highlights: Navigating...

Total Revenue: $41.9 million, down $2.4 million compared to Q2 2023.OA Pain Management Revenue: $26.7 million, decreased 9% due to lower US sales.International Sales Growth: 19% increase in OA Pain Management.Joint Preservation & Restoration Revenue: $13.5 million, increased 7%.Non-Orthopedic Revenue: $1.7 million, decreased 26%.Gross Margin: 65%, in-line with the prior year.Adjusted Gross Margin: 66%, down from 69% in the prior year period.Operating Expenses: $27.2 million, down $5.4 million from 2023.Net Loss: $100,000, compared to a net loss of $2.7 million in the prior year.Adjusted Net Income: $2.5 million, down from $4.5 million in Q2 2023.Adjusted EBITDA: $6.3 million, in-line with the prior year.Operating Cash Flow: Used $1.1 million, improved from $8.3 million used in Q2 2023.Capital Expenditures: $3.4 million, up $1.9 million.Cash and No Debt: $62.8 million in cash.Share Repurchase: $1.4 million of common stock purchased in Q2.Full Year Revenue Guidance: $168 million to $173 million, growth of 1% to 4% versus 2023.Adjusted EBITDA Guidance: Towards the lower end of $25 million to $30 million range.