Financial Performance - Total revenue increased by 7% to $36.7 million[32] - OA Pain Management revenue increased by 18% to $22.7 million, primarily due to favorable order timing[32] - Joint Preservation and Restoration revenue decreased by 1% to $12.1 million due to early quarter COVID headwinds[32] - Non-Orthopedic revenue decreased by 34% to $1.8 million due to last time buys in Q1'21[32] - Gross margin was 59%, including $1.6 million of non-cash acquisition related expenses; Adjusted gross margin was 64%[32] - Net loss was ($2.9) million, or ($0.20) per share; Adjusted net loss was ($1.6) million, or ($0.11) per share[32] - Adjusted EBITDA was $2.6 million[32] - The company's cash balance as of March 31, 2022, was $90.3 million[32] Strategic Focus - Anika is focused on becoming the leader in joint preservation[44] - 2022 is a foundational year for executing on the product pipeline and commercial strategy to deliver targeted value to Ambulatory Surgery Centers (ASC)[44] - The company aims to emerge with a broad, differentiated product portfolio and a commercial team focused on the joint preservation continuum of care[44] Future Growth - The company is positioning to accelerate revenue growth coming out of 2022, growing both EBITDA margin and cash flows[44] - The company is targeting adjusted gross margin of 70%+ and adjusted EBITDA margin of 20%+ with $230M+ revenue on mid-teens CAGR[42]

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]