Anika Therapeutics, Inc. (NASDAQ:ANIK) Q2 2021 Earnings Conference Call August 5, 2021 5:00 PM ET Company Participants Mark Namaroff – Executive Director of Investor Relations and Corporate Communications Cheryl Blanchard – President and Chief Executive Officer Mike Levitz – Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Yong Lee – UBS Jim Sidoti – Sidoti and Company Mike Petusky – Barrington Research Operator Good day, everyone, and welcome to Anika’s Second Qu ...

Company Overview - Anika is a joint preservation company focused on early intervention orthopedic care[5] - The company's 2020 revenue was $130 million, with $95 million in cash and investments as of March 31, 2021[5] - Anika aims to achieve diversified growth with a projected 2024 revenue mix of 64% in OA Pain Management and 30% in Joint Preservation[5] Market Opportunity and Growth Strategy - Anika is expanding its market opportunity from $1 billion to over $8 billion in joint preservation[12] - The company is targeting to double revenue by 2024 with double-digit adjusted EBITDA growth[12] - Anika has established a commercial footprint in over 75 countries[19] Financial Performance and Outlook - Q1 2021 total revenue decreased by 3% to $343 million compared to Q1 2020[34] - Joint Preservation and Restoration revenue increased by 55% to $122 million in Q1 2021[34] - Joint Pain Management revenue decreased by 24% to $193 million in Q1 2021[34] - The company had $946 million in cash and investments as of March 31, 2021[34]

Anika Therapeutics, Inc. (NASDAQ:ANIK) Q1 2021 Earnings Conference Call May 6, 2021 5:00 PM ET Company Participants Mark Namaroff - Executive Director of Investor Relations and Corporate Communications Cheryl Blanchard - President and Chief Executive Officer Michael Levitz - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Jim Sidoti - Sidoti & Company Mike Petusky - Barrington Research Operator Good evening, ladies and gentlemen, and welcome to Anika's First Quar ...

Financial Performance - Total revenue decreased by 3% to $343 million due to COVID-19 dynamics[12] - Joint Preservation and Restoration revenue increased by 55% to $122 million, primarily due to acquisitions and hybrid sales channel momentum[12] - Joint Pain Management revenue decreased by 24% to $193 million, impacted by COVID-19 and related ordering patterns[12] - The company holds a solid cash position with approximately $946 million in cash and investments[4] - Net income was $2838 million, or $020 per share[12, 20] - Adjusted EBITDA was $4783 million[12, 26] Future Outlook and Strategy - The company expects a second-half 2021 market recovery as COVID-19 restrictions lift[4] - The company is well-positioned for high single-digit to low double-digit revenue growth in 2021[14] - The company aims to double revenue by 2024 compared to 2019 base year results and achieve double-digit adjusted EBITDA growth[6, 14] - The company plans to expand its market opportunity from $1 billion to over $8 billion[6]