Overview

* Anika Q3 revenue decreases 6% yr/yr to $27.8 mln, beating analyst expectations

* Commercial Channel revenue up 22%, driven by Integrity and international OA growth

* Company starts $15 mln share repurchase, reaffirming fiscal 2025 guidance

Outlook

* Anika maintains 2025 Commercial Channel revenue guidance at $47 to $49.5 mln

* Anika maintains 2025 OEM Channel revenue guidance at $62 to $65 mln

* Company commences $15 mln share repurchase, expected by June 2026

Result Drivers

* COMMERCIAL CHANNEL GROWTH - Revenue increased 22% driven by Integrity Implant System and international OA Pain Management

* OEM CHANNEL DECLINE - Revenue decreased 20% due to lower U.S. pricing for Monovisc and Orthovisc

* INTERNATIONAL SALES - International OA Pain Management saw double-digit growth, contributing to overall performance

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $27.81 $27.80

Revenue mln mln (2

Analysts

)

Q3 Net -$2.32

Income mln

Q3 Gross $15.58

Profit mln

Q3 -$3.23

Income mln

from

Operatio

ns

Q3 -$2.23

Pretax mln

Profit

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 ( ANIK ) is $15.50, about 37.9% above its November 4 closing price of $9.63

Press Release:

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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.)