Anika Therapeutics Q1 Revenue Up 13%, $4.3M EBITDA, $15M Buyback
Anika Therapeutics grew Q1 revenue by 13% to $29.6 million, with OEM Channel up 14% and Commercial Channel up 12%, and improved gross margin by 8 points to 64.2%. Adjusted EBITDA jumped to $4.3 million from $0.1 million, and Anika completed a $15 million share repurchase while maintaining full-year revenue guidance of $114 million to $122.5 million.
1. Q1 2026 Financial Results
Anika reported Q1 2026 revenue of $29.6 million, up 13% year over year. OEM Channel revenue rose 14% to $17.0 million, while Commercial Channel grew 12% to $12.6 million. Gross profit reached $19.0 million and gross margin expanded to 64.2% from 56.1%.
2. Profitability and Operational Highlights
Adjusted EBITDA was $4.3 million versus $0.1 million in Q1 2025, driven by margin expansion and lean manufacturing principles. Operating expenses increased to $24.5 million, including $4.9 million of one-time severance charges and investments in operations and research and development.
3. Share Repurchase and Guidance
Anika completed its $15 million 10b5-1 share repurchase at an average price of $10.76 per share on April 10. The company reaffirmed 2026 revenue guidance of $114 million to $122.5 million, with Commercial Channel growth expected at 10% to 20% and OEM Channel flat to modestly lower.