Anika raises 2026 outlook as Q3 revenue grows 10%
Anika Therapeutics reported higher third-quarter revenue, stronger Integrity demand and increased manufacturing throughput while lifting the lower end of its 2026 growth outlook.
Anika Therapeutics reported third-quarter 2026 revenue of $30.6 million, up 10% from $27.8 million a year earlier. Commercial Channel revenue rose approximately 17% to $14.0 million, while OEM Channel revenue increased approximately 5% to $16.6 million.
The company said International viscosupplement revenue increased 19% year over year and Regenerative Solutions revenue rose 12%. Integrity revenue grew by more than 30% year over year, supported in part by larger implant sizes introduced since late 2025. Anika also said demand had exceeded forecasts and that unit volumes on its cross-link line were more than 50% above 2022 levels.
Anika raised the lower end of its 2026 total-company revenue-growth guidance to 6%–10%, from 5%–10% previously. It lifted OEM growth guidance to 5%–9% from 0%–5%, while lowering the Commercial Channel range to 9%–13% from 12%–18%. Adjusted EBITDA margin guidance increased to 15%–17% from 13%–17%.
The company said it secured a new 10-year Hyvisc partnership with improved economics and completed enrollment in its Cingal bioequivalence study. It also disclosed that the FDA had found the Hyalofast pre-market approval application not approvable in October and that it was evaluating regulatory next steps.
Q3 revenue
$30.6M
↑ +10% vs. Q3 2025
Commercial Channel
$14.0M
↑ +17% year over year
OEM Channel
$16.6M
↑ +5% year over year
Cash
$45.0M
at Sept. 30, 2026
Sources
Quarterly revenue, Anika Therapeutics, Inc.
Margins by quarter
Twelve quarters of figures
| Quarter | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.5M | −$2.9M | $29.0M | $30.7M | $29.6M | $30.6M | $26.2M | $28.2M | $27.8M | $30.6M | $29.6M | $32.6M |
| Revenue growth | — | — | — | — | −28.7% | — | −9.8% | −8.2% | −5.9% | 0.0% | 13.2% | 15.6% |
| Gross margin | 60.2% | −199.1% | 65.4% | 66.7% | 65.7% | 56.0% | 56.1% | 50.9% | 56.0% | 62.6% | 64.2% | 65.1% |
| Operating margin | −18.5% | −852.1% | −8.6% | −5.9% | −0.3% | −2.3% | −16.4% | −14.8% | −11.6% | 2.1% | −18.5% | 9.1% |
| Net income | −$6.6M | −$63.0M | −$4.5M | −$0.1M | −$29.9M | −$21.9M | −$4.9M | −$4.0M | −$2.3M | $0.3M | −$5.1M | $3.3M |
| Diluted EPS | −$0.45 | −$4.29 | −$0.31 | $0.00 | −$2.03 | −$1.49 | −$0.34 | −$0.28 | −$0.16 | $0.02 | −$0.37 | $0.24 |
| Cash from operations | $6.5M | $3.6M | −$0.1M | −$1.1M | $5.0M | $1.6M | −$0.1M | −$0.2M | $6.9M | $4.6M | −$4.8M | −$0.7M |
| Capital expenditure | $0.7M | $1.8M | $1.8M | $3.4M | $1.2M | $1.3M | $2.8M | $1.5M | $1.9M | $0.6M | $1.4M | $1.4M |
| Free cash flow | $5.7M | $1.8M | −$1.9M | −$4.5M | $3.8M | $0.3M | −$3.0M | −$1.7M | $5.0M | $4.0M | −$6.3M | −$2.1M |
| Dividends and buybacks | $0.0M | $0.0M | $0.0M | $1.4M | $4.0M | $5.6M | $4.0M | $0.0M | $0.0M | $5.5M | $8.7M | $0.9M |
This story describes figures the company has published. It is for information only and is not investment advice or a recommendation to buy, sell or hold any security. Check the original filings before relying on any figure. Stoqly is not affiliated with the SEC or Anika Therapeutics, Inc..
