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Anika Therapeutics, Inc. (ANIK) stock

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NASDAQ: ANIK Nasdaq Health Care Equipment Next results ~November 6, 2026

C+ Fundamentals grade

Anika Therapeutics, Inc. is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$13

Revenue-to-maturity cash-flow model

Base case. Range ~$10–$16 across our lower- and higher-growth cases (0.2999999999999998%–10.3% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Anika Therapeutics, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders3 buying, 0 selling4 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds67 adding, 51 cuttingOf 24 active managers that changed their stake, 13 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Anika Therapeutics files

Where Anika Therapeutics stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $121m, up 5.3% on a year earlier, against a decline of 0.7% a quarter earlier. Free-cash-flow margin held at 0.5%. Operating margin widened to -4.2% from -8.1%. The diluted share count is down 4.0% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 1 financial-health checks. Our revenue-to-maturity cash-flow model value is $13.02 a share, against a share price of $21.55.

Source: 10-Q filed July 29, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 6, 2026 (estimated)

Anika Therapeutics, Inc.'s trailing-twelve-month revenue grew 5.3% year on year, with a free-cash-flow margin of 0.5%. Where it stands out: change in share count of -4.0% ranks 8 of 115 health care equipment companies we cover. Where it lags: days sales outstanding of 88 days ranks 101 of 118 health care equipment companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 1300% in the quarter to 2026-06-30, the 3rd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 6.0 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 3.8 points on a year ago.
  • Shrinking share count. Diluted shares fell 4.0% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.0bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 106.5% over 90 days.

Things to watch

  • Loss-making. Operating margin is -4.2%: costs exceed revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 50% and a beta of 0.6 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 88 days ranks 101 of 118 health care equipment companies we cover (median 57 days).
  • Earnings expected to fall. The consensus expects earnings per share to fall 10% next year.

Latest results: FY2026 Q2

Filed July 29, 2026
Earnings per share
$0.42 against an average estimate of $0.03: beat by 1300.0%
Revenue
$33m, up 15.6% on a year earlier
Share reaction
+19.3% in the first session after the results on July 29, 2026, against +0.1% for the S&P 500
Guidance given
total Company Revenue growth growth 5% to 10% (full-year 2026); OEM Channel revenue growth growth 0% to 5% (full-year 2026)
Next report
November 6, 2026; average EPS estimate $0.17

Anika Therapeutics' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.6%
  • 1 week-8.6%
  • 1 month+2.2%
  • This year+102.0%
  • 1 year+98.8%
  • 5 years-54.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$121M
Operating margin
-4.2%
Net margin
-3.1%
EPS (TTM, diluted)
$-0.27

Growth

Revenue growth
+5.3%
Change in growth rate
+6.0 pts
Share count change
−4.0%

Cash

Free cash flow (TTM)
$562,000
FCF margin
0.5%
Stock pay % of revenue
10.9%

Earnings

Last results
July 29, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Anika Therapeutics, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Anika Therapeutics, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.87 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$13 ~$10–$16 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$8.8 ~$10–$45 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$12 ~$8.8–$13 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Anika Therapeutics, Inc. with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$38.16$48.96$53.91$33.61$51.85$45.26$35.83$29.60$22.66$16.46$9.61$19.41
Market value$585m$740m$812m$494m$745m$644m$524m$438m$332m$242m$138m$271m
+ Net debt (− = net cash)−$111m−$104m−$133m−$89m−$157m−$71m−$94m−$86m−$69m−$56m−$57m−$38m
Enterprise value$474m$636m$679m$405m$588m$573m$430m$351m$263m$187m$80m$232m
Multiples
Price / sales 6.3x7.2x7.2x4.7x6.5x4.9x3.5x3.8x2.7x2.0x1.2x2.2x
Price / earnings 19.0x22.7x25.5x26.4x27.4x—126.8x—————
Price / free cash flow 19.1x70.9x25.5x16.3x21.8x56.3x161.1x———31.6xn/m
EV / EBITDA 9.1x11.7x13.6x14.6x15.0x—47.3x33.9x36.2x104.7x—n/m

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

53 /100

Moderate moat

How hard Anika Therapeutics's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 19 / 20

    Cash operating profit has been a median 14.4% of total assets over 10 years.

  • Pricing power 16 / 20

    Gross margin has been a median 64.5%, moving by 6.4 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 3.6%; its worst year was -11.3%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 8 of 10 years, at a median 3.2% of revenue.

  • Discipline 9 / 20

    The diluted share count fell 3.0% over five years; stock-based pay has been a median 9.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 6, 2026, before the open. Analysts expect revenue of $29m and EPS of $0.17 (range $0.17 to $0.17) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.05 +855% $122m +8%
Next $0.95 −10% $128m +5%

Next year's EPS estimate has moved +106.5% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +156.1% on 90 days ago. In the last 30 days, 0 analysts raised Anika Therapeutics, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Anika Therapeutics, Inc., last 90 days
$0.40 $0.60 $0.80 $1.00 $1.20 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.41 Current fiscal year, 60 days ago: $1.05 Current fiscal year, 30 days ago: $1.05 Current fiscal year, 7 days ago: $1.05 Current fiscal year, Now: $1.05 $1.05 Next fiscal year, 90 days ago: $0.46 Next fiscal year, 60 days ago: $0.95 Next fiscal year, 30 days ago: $0.95 Next fiscal year, 7 days ago: $0.95 Next fiscal year, Now: $0.95 $0.95

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.41$0.46
60 days ago $1.05$0.95
30 days ago $1.05$0.95
7 days ago $1.05$0.95
Now $1.05$0.95

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.03 $0.42 +1300.0%
Mar 2026 $0.00 $0.27 0.0%
Dec 2025 $0.02 $0.31 +1450.0%
Sept 2025 $0.02 $0.04 +100.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 29, 2026
  • Total Company Revenue growth full-year 2026 5% growth to 10% growth Raised
    “Raising Total Company Revenue Guidance: revenue growth of 5% to 10%, compared to previous guidance of 1% to 9%” source
  • OEM Channel revenue growth full-year 2026 0% growth to 5% growth Raised
    “OEM Channel revenue growth: 0% to 5%, compared to previous guidance of down 5% to flat” source
  • Commercial Channel revenue growth full-year 2026 12% growth to 18% growth Raised
    “Commercial Channel revenue growth: 12% to 18%, compared to previous guidance of 10% to 20%” source
  • Adjusted EBITDA margin full-year 2026 13% to 17% Non-GAAP Raised
    “Adjusted EBITDA margin: 13% to 17%, compared to previous guidance of 5% to 10%” source
  • 2027 Commercial Channel revenue growth 2027 5% growth to 15% growth Lowered
    “2027 Commercial Channel revenue growth: 5% to 15%, compared to previous guidance of 10% to 20%” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026112
  2. Sep 2026112
  3. Aug 2026112

Counts of recommendations published by analysts covering Anika Therapeutics, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.6%
of tradable shares
Days to cover
3.79
at average volume
Short interest, 1 month
−4%
to October 15, 2026
Held by institutions
94%
of shares
Held by insiders
6.4%
of shares
Employees
235
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +99.1%

$9.75 on October 31, 2025 to $19.41

ThenNowEffect
Revenue (last 12 months) $115m $121m +5.3%
P/S multiple 1.2x 2.2x +81.4%
Share count 15m 14m +4.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −8.1%

$21.12 on November 3, 2023 to $19.41

ThenNowEffect
Revenue (last 12 months) $120m $121m +0.8%
P/S multiple 2.6x 2.2x −14.5%
Share count 15m 14m +6.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ANIK−21%−17%−23%−27%−42%+102%
Industry peers (median)−7%−37%−8%−19%−16%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ANIK25%58%58%50%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ANIK−29%−44%−47%−44%−55%−23%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 89% from October 25, 2019 to July 30, 2025. Getting back needed a 806% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$9.13 – $22.03
From 52-week high
−11.9%
vs 50-day average
−5.8%
vs 200-day average
+20.4%
Volatility (1 year)
50%
Beta vs S&P 500
0.62

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±14.8%
After a week
3 up, 9 down
typical move ±12.9%
After a month
3 up, 9 down
typical move ±15.2%
Results releasedNext dayS&P 500 next day5 days21 days
July 29, 2026 +19.3% +0.1% +26.7% +37.6%
April 29, 2026 −18.4% +1.0% −0.9% −4.8%
February 26, 2026 +31.3% −1.0% +30.3% +30.5%
January 8, 2026 −3.3% +0.7% −3.2% +4.0%
November 5, 2025 +1.2% −0.7% +4.9% −0.3%
July 30, 2025 −26.0% −0.5% −26.1% −17.3%
May 9, 2025 −19.6% +3.2% −17.3% −21.6%
March 12, 2025 −9.4% −0.8% −5.0% −19.0%
October 31, 2024 −33.0% −1.5% −30.2% −28.9%
August 8, 2024 −1.0% +2.8% −1.6% −6.5%
May 8, 2024 −10.9% +0.6% −8.0% −9.1%
March 13, 2024 −4.8% −0.4% −0.8% −3.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Anika Therapeutics, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Anika Therapeutics, Inc.
$80M $90M $100M $110M $120M $130M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $120.9M Revenue (TTM), FY23 Q4: $120.8M Revenue (TTM), FY24 Q1: $111.9M Revenue (TTM), FY24 Q2: $98.3M Revenue (TTM), FY24 Q3: $86.4M Revenue (TTM), FY24 Q4: $119.9M Revenue (TTM), FY25 Q1: $117.1M Revenue (TTM), FY25 Q2: $114.5M Revenue (TTM), FY25 Q3: $112.8M Revenue (TTM), FY25 Q4: $112.8M Revenue (TTM), FY26 Q1: $116.3M Revenue (TTM), FY26 Q2: $120.7M $120.7M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $120.9M
FY23 Q4 $120.8M
FY24 Q1 $111.9M
FY24 Q2 $98.3M
FY24 Q3 $86.4M
FY24 Q4 $119.9M
FY25 Q1 $117.1M
FY25 Q2 $114.5M
FY25 Q3 $112.8M
FY25 Q4 $112.8M
FY26 Q1 $116.3M
FY26 Q2 $120.7M
Revenue growth, TTM YoY Anika Therapeutics, Inc.
-40% -20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -20.7% Revenue growth, TTM YoY, FY23 Q4: 6.1% Revenue growth, TTM YoY, FY24 Q1: -2.8% Revenue growth, TTM YoY, FY24 Q2: -17.9% Revenue growth, TTM YoY, FY24 Q3: -28.5% Revenue growth, TTM YoY, FY24 Q4: -0.7% Revenue growth, TTM YoY, FY25 Q1: 4.6% Revenue growth, TTM YoY, FY25 Q2: 16.5% Revenue growth, TTM YoY, FY25 Q3: 30.6% Revenue growth, TTM YoY, FY25 Q4: -5.9% Revenue growth, TTM YoY, FY26 Q1: -0.7% Revenue growth, TTM YoY, FY26 Q2: 5.3% 5.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -20.7%
FY23 Q4 6.1%
FY24 Q1 -2.8%
FY24 Q2 -17.9%
FY24 Q3 -28.5%
FY24 Q4 -0.7%
FY25 Q1 4.6%
FY25 Q2 16.5%
FY25 Q3 30.6%
FY25 Q4 -5.9%
FY26 Q1 -0.7%
FY26 Q2 5.3%
Operating margin (TTM) Anika Therapeutics, Inc.
-20% -10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -6.2% Operating margin (TTM), FY23 Q4: 0.7% Operating margin (TTM), FY24 Q1: 9.7% Operating margin (TTM), FY24 Q2: 12.9% Operating margin (TTM), FY24 Q3: 23.5% Operating margin (TTM), FY24 Q4: -4.3% Operating margin (TTM), FY25 Q1: -5.9% Operating margin (TTM), FY25 Q2: -8.1% Operating margin (TTM), FY25 Q3: -11.0% Operating margin (TTM), FY25 Q4: -9.8% Operating margin (TTM), FY26 Q1: -10.5% Operating margin (TTM), FY26 Q2: -4.2% -4.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -6.2%
FY23 Q4 0.7%
FY24 Q1 9.7%
FY24 Q2 12.9%
FY24 Q3 23.5%
FY24 Q4 -4.3%
FY25 Q1 -5.9%
FY25 Q2 -8.1%
FY25 Q3 -11.0%
FY25 Q4 -9.8%
FY26 Q1 -10.5%
FY26 Q2 -4.2%
FCF margin (TTM) Anika Therapeutics, Inc.
-10% -5% 0% 5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -9.1% FCF margin (TTM), FY23 Q4: -6.0% FCF margin (TTM), FY24 Q1: -3.7% FCF margin (TTM), FY24 Q2: 1.2% FCF margin (TTM), FY24 Q3: -0.9% FCF margin (TTM), FY24 Q4: -1.9% FCF margin (TTM), FY25 Q1: -2.9% FCF margin (TTM), FY25 Q2: -0.5% FCF margin (TTM), FY25 Q3: 0.6% FCF margin (TTM), FY25 Q4: 3.9% FCF margin (TTM), FY26 Q1: 0.9% FCF margin (TTM), FY26 Q2: 0.5% 0.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -9.1%
FY23 Q4 -6.0%
FY24 Q1 -3.7%
FY24 Q2 1.2%
FY24 Q3 -0.9%
FY24 Q4 -1.9%
FY25 Q1 -2.9%
FY25 Q2 -0.5%
FY25 Q3 0.6%
FY25 Q4 3.9%
FY26 Q1 0.9%
FY26 Q2 0.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 40 56 65 71 75 106 93 103 113 106 115 130 148 114 121 120 113 121
Gross profit — — — — — — — 79 86 74 86 69 83 73 83 76 64 75
EBITDA 7 11 18 24 37 66 52 54 50 28 39 −22 9 10 7 2 −6 1
Operating income 6 8 14 20 33 61 48 51 46 22 34 −28 3 4 1 −5 −11 −5
Net income 4 4 8 12 21 38 31 33 32 19 27 −24 4 −15 −83 −56 −11 −4
Diluted EPS $0.32 $0.32 $0.62 $0.82 $1.39 $2.51 $2.01 $2.15 $2.11 $1.27 $1.89 −$1.69 $0.28 −$1.02 −$5.64 −$3.83 −$0.76 −$0.27
Growth (year on year)
Revenue — +38.4% +16.6% +10.2% +5.2% +40.6% −11.9% +11.2% +9.7% −6.9% +8.6% +13.8% +13.3% −23.0% +6.1% −0.7% −5.9% +5.3%
EBITDA — +57.8% +65.5% +34.9% +54.2% +77.0% −21.5% +4.7% −8.0% −44.7% +41.7% −156.7% — +14.1% −29.8% −75.5% — —
Operating income — +34.9% +85.3% +41.2% +65.4% +88.4% −21.7% +5.1% −9.6% −52.4% +57.5% −182.7% — — −77.0% — — —
Net income — +17.0% +96.2% +38.9% +75.0% +86.2% −19.7% +5.8% −2.2% −41.2% +45.2% −188.2% — −459.4% — — — —
Diluted EPS — 0.0% +93.8% +32.3% +69.5% +80.6% −19.9% +7.0% −1.9% −39.8% +48.8% −189.4% — −464.3% — — — —
Margins
Gross margin — — — — — — — 76.8% 75.9% 70.4% 74.9% 52.9% 56.1% 64.3% 68.3% 63.4% 56.6% 62.2%
EBITDA margin 17.1% 19.5% 27.7% 34.0% 49.8% 62.6% 55.8% 52.6% 44.1% 26.2% 34.2% −17.0% 6.2% 9.1% 6.0% 1.5% −5.0% 0.4%
Operating margin 13.9% 13.6% 21.6% 27.6% 43.4% 58.2% 51.8% 49.0% 40.3% 20.6% 29.9% −21.7% 1.8% 3.2% 0.7% −4.3% −9.8% −4.2%
Net margin 9.2% 7.8% 13.1% 16.5% 27.4% 36.3% 33.1% 31.5% 28.1% 17.7% 23.7% −18.4% 2.8% −13.1% −68.4% −47.0% −9.6% −3.1%
Free-cash-flow margin −2.2% 9.1% 13.5% 12.7% 32.9% 36.4% 33.0% 10.1% 28.1% 28.7% 29.8% 8.8% 2.2% −2.7% −6.0% −1.9% 3.9% 0.5%
Cash flow
Cash from operations 3 8 10 11 25 40 40 24 41 35 37 13 8 4 −2 5 11 6
Capital spending 4 3 1 2 0 2 9 14 9 5 3 2 5 7 5 8 7 5
Free cash flow −1 5 9 9 25 38 31 10 32 30 34 11 3 −3 −7 −2 4 1
Stock-based pay 1 1 1 1 1 2 2 3 6 11 6 5 11 14 15 13 10 13
Free cash flow after stock pay −2 4 8 8 23 37 28 7 26 19 28 6 −8 −17 −22 −15 −6 −13
Balance sheet
Cash 24 28 36 44 63 100 111 104 133 89 157 96 94 86 69 56 57 38
Total debt 0 13 11 10 8 0 0 0 0 0 0 25 0 0 0 0 0 0
Net debt (negative = net cash) −24 −15 −25 −34 −55 −100 −111 −104 −133 −89 −157 −71 −94 −86 −69 −56 −57 −38
Diluted shares 12m 14m 14m 14m 15m 15m 15m 15m 15m 15m 14m 14m 15m 15m 15m 15m 14m 14m
Returned to shareholders
Buybacks — — — — — — — 25 — 30 30 0 0 0 5 11 9 15
Total returned — — — — — — — 25 — 30 30 0 0 0 5 11 9 15

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 1 checks passed · June 30, 2026
What it owns · $183m
Short-term assets $99mLonger-term assets $84m
What it owes, and who funded it · $159m
Short-term liabilities $22mShareholders' equity $137m
  • Short-term assets cover short-term liabilities $99m of assets due within a year against $22m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Anika Therapeutics, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$15.1M
Returned to shareholders
2679%
of free cash flow
Buybacks, last 3 fiscal years
$25.4M
Diluted share count
−4.0%
year over year
Total shareholder yield
5.8%
dividends 0.0% + buybacks 5.8% of market value
R&D spending
22.8%
of revenue
Sales & admin spending
43.7%
of revenue
Days sales outstanding
88 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated ANIK OM OWLT BBNX RXST SMTI Median
Revenue, last 12 months $121m $118m $115m $127m $128m $110m $99m
Revenue growth, last 12 months 5.3% −1.3% 28.2% 43.7% −13.2% 13.0% 9.2%
Revenue growth, 3-year average 0.3% −3.1% 29.3% — 23.9% 22.6% 13.5%
Revenue growth, latest quarter 15.6% 0.7% 29.9% 30.3% 0.3% 9.0% 10.2%
Gross margin 62.2% 41.8% 54.8% 58.6% 77.5% 93.0% 61.2%
Operating margin −4.2% −56.1% −6.3% −72.7% −43.2% 7.7% −8.5%
Operating margin, 3-year average 0.2% −83.8% −17.9% — −36.3% 2.2% −17.9%
Net margin −3.1% −63.1% −7.7% −65.3% −36.8% −29.2% −12.0%
Cash from operations / revenue 5.0% −32.5% −6.8% −46.6% −17.8% 5.2% −1.9%
Free-cash-flow margin 0.5% −33.0% −7.4% −51.8% −21.3% 4.1% −3.9%
Free-cash-flow margin, 3-year average 0.4% −70.2% −14.1% — −22.1% −0.1% −7.0%
Stock pay / revenue 10.9% 13.0% 11.2% 18.4% 24.6% 4.5% 6.1%
Change in share count −4.0% 311.4% 72.6% 44.6% 2.2% 0.3% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 5.3% 9.1% 82 of 129
Change in growth rate Growth +6.0pp -0.6pp 21 of 129
Gross margin Profitability 62.2% 61.9% 61 of 123
Operating margin Profitability -4.2% -8.3% 56 of 132
Net margin Profitability -3.1% -12.0% 50 of 133
Free-cash-flow margin Cash generation 0.5% -3.4% 50 of 128
Stock pay as % of revenue Cash generation 10.9% 6.1% 79 of 123
Change in share count Balance sheet -4.0% 3.3% 8 of 115
Days sales outstanding Balance sheet 88 days 57 days 101 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
OEM Channel $64.4M 57.1% ▼ 17.2%
Commercial Channel $48.4M 42.9% ▲ 14.9%
Geography
Region Revenue Share YoY
United States $70.1M 62.1% ▼ 15.0%
Europe $22.2M 19.7% ▲ 14.5%
Other Location $20.5M 18.2% ▲ 13.8%

From Anika Therapeutics, Inc.'s 10-K filed March 3, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$180M
Institutions reporting
132
Shares held vs prior quarter
▼ 0.5%
Positions opened / closed
18 / 12

Top buyers and sellers, Q2 2026: 67 institutions bought and 51 sold ; the biggest buyer was AQR Capital Management LLC (+288K shares) and the biggest seller Morgan Stanley (−258K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $21.2M 1.4M 11.8% ▼ 9.1%
Caligan Partners LP $21M 1.4M 11.7% 0.0%
Morgan Stanley $9M 614K 5.0% ▼ 29.6%
Acadian Asset Management LLC $8.9M 607K 4.9% 0.0%
Vanguard Capital Management LLC $8.4M 572K 4.7% ▼ 5.6%
AQR Capital Management LLC $8.2M 560K 4.6% ▲ 105.6%
Boothbay Fund Management, LLC $7.7M 530K 4.3% 0.0%
Renaissance Technologies LLC $7M 481K 3.9% ▼ 4.1%
Dimensional Fund Advisors LP $6.6M 451K 3.7% ▼ 1.7%
Capital Management Corp $6.6M 448K 3.6% ▲ 0.2%
Deutsche Bank Ag\ $5.2M 354K 2.9% ▲ 0.1%
Geode Capital Management, LLC $4.9M 332K 2.7% ▲ 0.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Anika Therapeutics, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $264,308 4 trades by 3 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $264,308 net buying
Insider Date Trade Shares Price Value
Fischetti Gary P Director August 4, 2026 Buy 1,000 $20.32 $20,320
Fischetti Gary P Director August 3, 2026 Buy 1,000 $20.75 $20,750
Henneman John B Iii Director May 1, 2026 Buy 5,000 $14.66 $73,300
Griffin Stephen D. President and CEO April 30, 2026 Buy 12,200 $12.29 $149,938

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 8 trades and filings

No trades in Anika Therapeutics, Inc. disclosed in the last 12 months; 8 earlier trades on record.

  • Tom Malinowski(D-NJ 7):Purchase, $1,001 - $15,000, traded March 2, 2020, filed March 5, 2021
  • Tom Malinowski(D-NJ 7):Purchase, $1,001 - $15,000, traded February 28, 2020, filed August 26, 2021
  • Tom Malinowski(D-NJ 7):Purchase, $1,001 - $15,000, traded February 27, 2020, filed August 26, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 12, 2026 estimated from the company's past filing pattern, not announced

  • July 29, 2026
  • April 29, 2026
  • February 26, 2026
  • January 8, 2026
  • November 5, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Anika Therapeutics, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Anika Therapeutics, Inc. in brief

What does Anika Therapeutics, Inc. do?
Anika Therapeutics, Inc. is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Anika Therapeutics, Inc.'s stock ticker?
Anika Therapeutics, Inc. trades under the ticker ANIK on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Anika Therapeutics, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Anika Therapeutics, Inc. reported revenue of $121M, 5.3% higher than a year earlier, according to its SEC filings.
What is Anika Therapeutics, Inc.'s free cash flow?
Anika Therapeutics, Inc.'s free-cash-flow margin is 0.5% of revenue over the trailing twelve months, ranking 50 of the 128 health care equipment companies we cover.
Who are Anika Therapeutics, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Caligan Partners LP and Morgan Stanley. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Anika Therapeutics, Inc. buying back stock, and does it pay a dividend?
Anika Therapeutics, Inc. spent $15.1M on share repurchases over the trailing twelve months, and its diluted share count fell 4.0% over the year.
What is Anika Therapeutics, Inc.'s market cap?
On November 2, 2026, Anika Therapeutics, Inc.'s market capitalisation was about $271M and net debt of -$38.4M. Market figures come from third-party market data and may be delayed.
Who are Anika Therapeutics, Inc.'s competitors?
In our Health Care Equipment peer group, the companies closest to Anika Therapeutics, Inc. are Outset Medical, Inc., Owlet, Inc., Beta Bionics, Inc., Rxsight, Inc. and Sanara Medtech Inc. The side-by-side comparison below sets their revenue, margins and growth against Anika Therapeutics, Inc.'s.
Are insiders buying or selling Anika Therapeutics, Inc. stock?
Over the last 12 months, Anika Therapeutics, Inc.'s directors and officers reported 4 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Anika Therapeutics, Inc.'s next earnings date?
Around November 6, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Anika Therapeutics, Inc. announces its own schedule.