Anika Therapeutics(US:ANIK)2025-11-05 21:01Revenue Performance - Revenue from the OEM Channel product family decreased by 20% for the three-month period and 19% for the nine-month period ended September 30, 2025, compared to the same periods in 2024, with a total decrease of $3.9 million and $11.0 million respectively [100]. - Revenue from the Commercial Channel product family increased by 22% for the three-month period and 13% for the nine-month period ended September 30, 2025, with international OA pain management product sales increasing by $1.5 million [101]. Profitability - Gross profit for the three- and nine-month periods ended September 30, 2025 was $15.6 million and $44.6 million, respectively, down from $19.4 million and $58.9 million in the same periods in 2024 [102]. - Gross margin decreased to 56% for the three-month period and 54% for the nine-month period ended September 30, 2025, compared to 66% for both periods in 2024 [103]. Expenses - Total research and development expenses for the three-month period ended September 30, 2025 were $5.9 million, a 17% decrease from $6.9 million in the same period in 2024 [105]. - Research and development external costs increased to $3.3 million for the three-month period ended September 30, 2025, up from $2.3 million in the same period in 2024 [106]. - Selling, general and administrative expenses decreased to $11.9 million for the three-month period ended September 30, 2025, down from $13.5 million in the same period in 2024 [107]. Losses - Loss from continuing operations increased to $3.2 million for the three-month period ended September 30, 2025, compared to a loss of $1.8 million in the same period in 2024 [108]. - Adjusted EBITDA for the three-month period ended September 30, 2025 was $865,000, a decrease of $3.7 million compared to $4.5 million in the same period in 2024 [116]. - Adjusted net loss for the nine-month period ended September 30, 2025 was $11.8 million, compared to a loss of $6.3 million in the same period in 2024 [118].