Anika Therapeutics, Inc. ANIK
Founded in 1992, Anika Therapeutics, Inc. ("Anika" or "Company") is a global leader in the OA Pain Management and regenerative solutions space, focusing on early intervention orthopedics. The Company leverages proprietary hyaluronic acid ("HA") technology to develop highly differentiated products. Driven by strong partnerships with physicians, Anika is dedicated to pioneering HA-based innovations that redefine orthopedic care. Our mission is to restore active living, empower surgeon choice, and enhance patient outcomes worldwide.
"Together, we restore active living and redefine what's possible with hyaluronic acid."
Trust and Respect: We build trust and show respect in every interaction.
Quality: We are committed to quality as we work to improve people's lives.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $112.8M | $119.9M | $120.8M | $113.8M | $147.8M | $130.5M | $114.6M | $105.6M | $113.4M | $103.4M |
| Cost of revenue | $49.0M | $43.9M | $38.3M | $40.6M | $64.9M | $61.4M | $28.7M | $31.3M | $27.4M | $24.0M |
| Gross profit | $63.8M | $76.0M | $82.5M | $73.2M | $82.9M | $69.0M | $85.9M | $74.3M | $86.1M | $79.4M |
| R&D | $25.8M | $25.5M | $21.8M | $18.3M | $27.3M | $23.4M | $16.7M | $18.2M | $18.8M | $10.7M |
| SG&A | $49.1M | $55.6M | $59.9M | $51.2M | $74.1M | $60.1M | $35.0M | $34.3M | $21.5M | $18.0M |
| Total operating expenses | $74.9M | $81.1M | $81.7M | $69.5M | $80.3M | $97.3M | $51.6M | $52.5M | $67.7M | $52.8M |
| Operating income | -$11.1M | -$5.1M | $844.0K | $3.7M | $2.6M | -$28.3M | $34.2M | $21.7M | $45.7M | $50.6M |
| Pre-tax income | -$9.3M | -$2.8M | $3.2M | $4.3M | $2.4M | -$28.6M | $36.1M | $23.2M | $46.2M | $50.9M |
| Income tax | $672.0K | $6.1M | $6.6M | $2.1M | $1.7M | $4.6M | $8.9M | $4.5M | $14.4M | $18.3M |
| Net income | -$11.0M | -$56.0M | -$83.0M | -$15.0M | $4.0M | -$24.0M | $27.2M | $18.7M | $31.8M | $32.5M |
| EPS, basic | -0.76 | -3.83 | -5.64 | -1.02 | 0.29 | -1.69 | 1.93 | 1.30 | 2.18 | 2.22 |
| EPS, diluted | -0.76 | -3.83 | -5.64 | -1.02 | 0.28 | -1.69 | 1.89 | 1.27 | 2.11 | 2.15 |
| Shares, diluted (wtd. avg.) | $14.3M | $14.7M | $14.7M | $14.8M | $14.6M | $14.2M | $14.4M | $14.7M | $15.1M | $15.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $57.5M | $55.6M | $68.7M | $86.3M | $94.4M | $95.8M | $157.5M | $89.0M | $133.3M | $104.3M |
| Short-term investments | $23.7M | $23.6M | $26.4M | $34.6M | $29.8M | $2.5M | $27.5M | $70.0M | $24.0M | $20.5M |
| Receivables | $23.7M | $23.6M | $26.4M | $34.6M | $29.8M | $24.1M | $23.1M | $20.8M | $23.8M | $27.6M |
| Inventory | $18.8M | $23.8M | $24.4M | $39.8M | $36.0M | $46.2M | $22.0M | $21.3M | $22.0M | $16.0M |
| Total current assets | $103.4M | $113.7M | $163.3M | $169.5M | $168.5M | $177.4M | $234.3M | $202.9M | $206.3M | $170.4M |
| Property, plant and equipment | $40.3M | $39.0M | $37.4M | $48.3M | $47.6M | $50.6M | $50.8M | $54.1M | $56.2M | $52.3M |
| Goodwill | $8.1M | $7.1M | $7.6M | $7.3M | $7.8M | $8.4M | $7.7M | $7.9M | $8.2M | $7.2M |
| Other intangibles | $1.6M | $2.5M | $2.6M | $74.6M | $82.4M | $91.2M | $7.6M | $9.2M | $10.6M | $10.2M |
| Total assets | $190.3M | $202.7M | $270.6M | $349.1M | $347.5M | $365.6M | $330.7M | $279.0M | $282.6M | $240.2M |
| Accounts payable | $6.0M | $5.6M | $6.2M | $9.1M | $7.6M | $9.0M | $3.8M | $3.1M | $6.7M | $2.3M |
| Total current liabilities | $21.9M | $23.3M | $31.1M | $27.9M | $29.8M | $36.9M | $16.3M | $11.3M | $13.1M | $8.8M |
| Retained earnings | $60.8M | $71.7M | $128.1M | $210.7M | $225.6M | $221.4M | $245.4M | $218.2M | $199.5M | $168.2M |
| Total equity | $143.5M | $154.0M | $212.3M | $285.6M | $287.1M | $272.4M | $288.4M | $263.6M | $263.5M | $222.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $11.2M | $5.4M | -$1.8M | $4.4M | $8.4M | $13.1M | $37.0M | $34.9M | $40.8M | $24.4M |
| Depreciation and amortisation | $5.4M | $5.0M | $4.9M | $4.9M | $6.5M | $6.1M | $5.0M | $4.9M | $3.3M | $2.7M |
| Stock-based compensation | $10.1M | $13.1M | $15.2M | $14.3M | $11.1M | $5.4M | $6.1M | $11.0M | $5.8M | $3.4M |
| Capital expenditure | $6.8M | $7.7M | $5.4M | $7.5M | $5.1M | $1.6M | $2.8M | $4.7M | $9.0M | $14.0M |
| Investing cash flow | -$401.0K | -$8.3M | -$5.4M | -$7.5M | -$3.1M | -$71.3M | $39.7M | -$50.3M | -$12.5M | -$6.8M |
| Financing cash flow | -$10.6M | -$12.7M | -$6.3M | -$4.9M | -$6.8M | -$3.8M | -$8.1M | -$28.9M | $314.0K | -$24.0M |
| Buybacks | $9.5M | $10.9M | $5.0M | $0 | $0 | $0 | $30.0M | $30.0M | — | $25.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-017488.
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