From GlobeNewswire: 2025-03-12 16:05:00

Anika Therapeutics, Inc. reported full-year 2024 results in line with guidance, with Commercial Channel revenue up 17%. Strong International OA Pain Management and over 40% sequential growth of the Integrity™ Implant System drove Commercial Channel growth and 2024 results. Key regulatory and clinical milestones were achieved for Hyalofast®, Cingal®, and Integrity.

The strategic sale of Parcus Medical was completed, with resources refocused on programs set to generate significantly higher returns. Anika’s Q4 revenue from continuing operations was $30.6 million, up 1% from the same period in 2023. Commercial Channel revenue saw a 25% increase, while OEM Channel revenue was down 8%.

For the full year of 2024, Anika reported total revenue from continuing operations of $119.9 million, a 1% decrease from 2023. Commercial Channel revenue increased by 17%, while OEM Channel revenue was down 8%, in line with the company’s guidance. CEO Cheryl Blanchard expressed confidence in Anika’s growth profile and success in executing its refocused strategy.

Anika achieved greater than 40% sequential growth for the Integrity Implant System, with over 1,000 surgeries globally. The company also saw 22% growth in International OA Pain Management in Q4 and 16% growth for the full year 2024. Significant regulatory and clinical milestones were reached to advance key pipeline programs.

Anika provided fiscal 2025 guidance, expecting revenue growth in the Commercial Channel of $47 to $49.5 million, up 12-18%, and OEM Channel revenue towards the lower end of $64 to $68.5 million, down 12-18%. Adjusted EBITDA margin for 2025 is expected to be 8-10%.

On March 7, 2025, Anika announced the sale of Parcus Medical, aligning with its focus on core HA products. The company now reports under new revenue classifications to provide clearer insights into its value drivers. Discontinued operations for Arthrosurface and Parcus Medical have been moved to Anika’s income statement presentation.

Anika’s financial results for Q4 and full year 2024 represent continuing operations for their HA-focused Regenerative Solutions and OA Pain Management product portfolios. The company’s non-GAAP financial information, including adjusted gross margin and adjusted EBITDA, is provided to supplement their reported financial results prepared in accordance with GAAP.



Read more at GlobeNewswire:: Anika Reports Fourth Quarter and Full Year 2024 Financial