Anika Therapeutics Q2 revenue rises, lifts 2026 outlook

Overview

• US osteoarthritis solutions maker's Q2 revenue rose 16% yr/yr on record commercial channel sales

• Adjusted EBITDA for Q2 reached $7.1 mln, highest since 2020, with gross margin expanding to 65%

• Company raised 2026 revenue and adjusted EBITDA margin guidance, citing improved operating leverage

Outlook

• Anika raises 2026 total revenue growth outlook to 5%-10%, up from 1%-9%

• Company lifts 2026 adjusted EBITDA margin forecast to 13%-17%, from prior 5%-10%

• Anika cuts 2027 Commercial Channel revenue growth forecast to 5%-15%, from 10%-20%

Result Drivers

• COMMERCIAL CHANNEL GROWTH - Record Commercial Channel revenue rose 17% yr/yr, driven by strong sales performance

• OEM CHANNEL PERFORMANCE - OEM Channel benefited from strong transfer units, favorable order timing, and Monovisc volume growth

• GROSS MARGIN EXPANSION - Higher sales volume, increased manufacturing production, and improved sales mix led to a 65% gross margin

Company press release: ID:nGNX7JhjkN

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies distribution peer group is "buy."

• Wall Street's median 12-month price target for Anika Therapeutics Inc is $17.50, about 15.5% above its July 28 closing price of $15.15

Reuters Recommended Reads

• July 29 - Integra LifeSciences Q2 revenue slightly beats, adjusted EPS tops estimates

• July 29 - Boston Scientific Q2 results beat estimates on cardiovascular strength

• July 28 - Incyte beats Q2 revenue estimates on strong product demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)