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Anika Therapeutics (ANIK) Financials

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$16.03 +0.67 (+4.36%)
Closing price 07/6/2026 04:00 PM Eastern
Extended Trading
$16.34 +0.31 (+1.97%)
As of 07/6/2026 07:27 PM Eastern
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Annual Income Statements for Anika Therapeutics

Annual Income Statements for Anika Therapeutics

This table shows Anika Therapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 31 33 32 19 27 -24 4.13 -15 -83 -56 -11
Consolidated Net Income / (Loss)		 31 33 32 19 27 -24 4.13 -15 -83 -56 -11
Net Income / (Loss) Continuing Operations		 31 33 32 19 27 -24 4.13 2.20 -3.44 -8.83 -9.98
Total Pre-Tax Income 		48 51 46 23 36 -29 2.43 4.32 3.16 -2.76 -9.31
Total Operating Income		 48 51 46 22 34 -28 2.62 3.67 0.84 -5.10 -11
Total Gross Profit		 72 79 86 74 86 69 83 73 83 76 64
Total Revenue		 93 103 113 106 115 130 148 114 121 120 113
Operating Revenue		 93 103 113 106 115 130 148 114 121 120 113
Total Cost of Revenue		 21 24 27 31 29 61 65 41 38 44 49
Operating Cost of Revenue		 21 24 27 31 29 61 65 41 38 44 49
Total Operating Expenses		 24 29 40 53 52 97 80 70 82 81 75
Selling, General & Admin Expense		 15 18 22 34 35 60 74 51 60 56 49
Research & Development Expense		 8.99 11 19 18 17 23 27 18 22 26 26
Total Other Income / (Expense), net		 0.12 0.26 0.47 1.46 1.87 -0.30 -0.19 0.65 2.31 2.34 1.74
Interest & Investment Income		 0.12 0.26 0.47 1.46 1.87 -0.30 -0.19 0.65 2.31 2.34 1.74
Income Tax Expense		 17 18 14 4.49 8.93 -4.64 -1.71 2.12 6.60 6.06 0.67
Net Income / (Loss) Discontinued Operations		 - - - - - - - -17 -79 -48 -0.90
Basic Earnings per Share		 $2.06 $2.22 $2.18 $1.30 $1.93 ($1.69) $0.29 ($1.02) ($5.64) ($3.83) ($0.76)
Weighted Average Basic Shares Outstanding		 14.93M 14.68M 14.58M 14.44M 14.12M 14.22M 14.40M 14.56M 14.66M 14.72M 14.34M
Diluted Earnings per Share		 $2.01 $2.15 $2.11 $1.27 $1.89 ($1.69) $0.28 ($1.02) ($5.64) ($3.83) ($0.76)
Weighted Average Diluted Shares Outstanding		 15.32M 15.12M 15.07M 14.69M 14.37M 14.22M 14.63M 14.79M 14.66M 14.72M 14.34M
Weighted Average Basic & Diluted Shares Outstanding		 14.90M 14.70M 14.60M 14.21M 14.17M 14.33M 14.47M 14.63M 14.85M 14.18M 13.40M

Quarterly Income Statements for Anika Therapeutics

This table shows Anika Therapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -6.58 -63 -4.51 -0.09 -30 -22 -4.87 -3.97 -2.33 0.29 -5.06
Consolidated Net Income / (Loss)		 -6.58 -63 -4.51 -0.09 -30 -22 -4.87 -3.97 -2.33 0.29 -5.06
Net Income / (Loss) Continuing Operations		 -6.58 16 -1.96 -2.54 -1.85 26 -3.96 -4.65 -3.18 1.80 -5.06
Total Pre-Tax Income 		-7.04 25 -1.91 -1.22 0.33 29 -3.87 -3.97 -2.24 0.76 -4.82
Total Operating Income		 -7.67 25 -2.51 -1.81 -0.08 28 -4.28 -4.18 -3.23 0.65 -5.49
Total Gross Profit		 25 5.77 19 20 19 23 15 14 16 19 19
Total Revenue		 41 -2.90 29 31 30 -1.29 26 28 28 31 30
Operating Revenue		 41 -2.90 29 31 30 -1.29 26 28 28 31 30
Total Cost of Revenue		 17 -8.67 10 10 10 -24 11 14 12 11 11
Operating Cost of Revenue		 17 -8.67 10 10 10 -24 11 14 12 11 11
Total Operating Expenses		 33 -19 21 22 19 -5.25 19 19 19 19 24
Selling, General & Admin Expense		 25 -16 15 16 14 -4.89 13 12 12 12 18
Research & Development Expense		 7.79 -3.34 6.41 6.68 5.95 2.74 6.06 6.31 6.95 6.45 6.71
Total Other Income / (Expense), net		 0.64 0.58 0.59 0.60 0.41 0.74 0.42 0.21 1.00 0.12 0.67
Interest & Investment Income		 0.64 0.58 0.59 0.60 0.41 0.74 0.42 0.21 1.00 0.12 0.67
Income Tax Expense		 -0.46 9.05 0.04 1.33 2.17 2.87 0.09 0.68 0.94 -1.04 0.24
Net Income / (Loss) Discontinued Operations		 - - -2.56 2.45 -28 - -0.92 0.68 0.85 -1.51 0.00
Basic Earnings per Share		 ($0.45) ($4.29) ($0.31) ($0.01) ($2.03) ($1.48) ($0.34) ($0.28) ($0.16) $0.02 ($0.37)
Weighted Average Basic Shares Outstanding		 14.64M 14.66M 14.70M 14.84M 14.77M 14.72M 14.30M 14.36M 14.42M 14.34M 13.53M
Diluted Earnings per Share		 ($0.45) ($4.29) ($0.31) $0.00 ($2.03) ($1.48) ($0.34) ($0.28) ($0.16) $0.02 ($0.37)
Weighted Average Diluted Shares Outstanding		 14.64M 14.66M 14.70M 14.86M 14.77M 14.72M 14.30M 14.52M 14.42M 14.34M 13.53M
Weighted Average Basic & Diluted Shares Outstanding		 14.64M 14.85M 14.83M 14.80M 14.65M 14.18M 14.34M 14.42M 14.42M 13.40M 13.31M

Annual Cash Flow Statements for Anika Therapeutics

This table details how cash moves in and out of Anika Therapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 11 -6.45 29 -44 68 -62 -1.43 -8.06 -13 -16 0.32
Net Cash From Operating Activities		 40 24 41 35 37 13 8.40 4.41 -1.79 5.40 11
Net Cash From Continuing Operating Activities		 40 24 41 35 37 -7.48 8.40 4.41 -1.79 5.40 11
Net Income / (Loss) Continuing Operations		 31 33 32 19 27 -24 4.13 -15 -83 -56 -11
Consolidated Net Income / (Loss)		 31 33 32 19 27 -24 4.13 -15 -83 -56 -11
Depreciation Expense		 3.78 3.73 4.29 5.91 4.96 6.08 6.48 6.70 6.43 6.88 5.37
Amortization Expense		 - - 0.00 -0.37 2.21 0.00 14 7.78 7.78 1.24 0.36
Non-Cash Adjustments To Reconcile Net Income		 3.17 4.10 8.26 16 7.43 56 17 20 83 64 15
Changes in Operating Assets and Liabilities, net		 2.21 -16 -3.56 -5.02 -4.78 -46 -33 -16 -16 -11 1.17
Net Cash From Investing Activities		 -30 -6.76 -12 -50 40 -71 -3.12 -7.49 -5.43 -8.33 -0.40
Net Cash From Continuing Investing Activities		 -30 -6.76 -12 -50 40 -51 -3.12 -7.49 -5.43 -8.33 -0.40
Purchase of Property, Plant & Equipment		 -9.23 -14 -8.98 -4.66 -2.83 -1.63 -5.14 -7.49 -5.43 -7.73 -6.83
Acquisitions		 - - - 0.00 0.00 -95 -0.48 0.00 0.00 -0.60 0.00
Sale of Property, Plant & Equipment		 - - - - - - - - 0.00 0.00 1.33
Divestitures		 - - - - - - - - 0.00 0.00 5.10
Net Cash From Financing Activities		 1.07 -24 0.31 -29 -8.14 -3.77 -6.78 -4.85 -6.32 -13 -11
Net Cash From Continuing Financing Activities		 1.07 -24 0.31 -29 -8.14 -3.77 -6.78 -4.85 -6.32 -13 -11
Repurchase of Common Equity		 0.00 -25 0.00 -30 -30 - 0.00 0.00 -5.00 -11 -9.49
Issuance of Common Equity		 - - - - - 0.00 0.00 0.67 0.81 0.71 0.50
Other Financing Activities, net		 1.07 1.01 0.31 1.10 22 -3.42 -6.78 -5.52 -2.13 -2.52 -1.57
Other Net Changes in Cash		 - - - 0.03 -0.13 - 0.07 -0.13 0.08 -0.05 0.09
Cash Income Taxes Paid		 13 23 15 5.56 9.26 0.99 1.23 0.11 3.12 3.99 1.08

Quarterly Cash Flow Statements for Anika Therapeutics

This table details how cash moves in and out of Anika Therapeutics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 5.58 2.22 -4.24 -5.81 -0.45 -5.21 -3.79 -0.20 4.82 -0.51 -16
Net Cash From Operating Activities		 6.49 3.64 -0.13 -1.07 5.02 1.58 -0.13 -0.19 6.87 4.64 -4.85
Net Cash From Continuing Operating Activities		 6.49 3.64 -0.13 -1.07 5.02 1.58 -0.13 -0.19 6.87 4.64 -4.85
Net Income / (Loss) Continuing Operations		 -6.58 -63 -4.51 -0.09 -30 -22 -4.87 -3.97 -2.33 0.29 -5.06
Consolidated Net Income / (Loss)		 -6.58 -63 -4.51 -0.09 -30 -22 -4.87 -3.97 -2.33 0.29 -5.06
Depreciation Expense		 1.60 1.63 1.73 1.73 1.86 1.56 1.38 1.28 1.39 1.32 1.41
Amortization Expense		 0.86 1.95 0.33 0.33 0.33 2.40 0.21 0.14 0.01 - 0.00
Non-Cash Adjustments To Reconcile Net Income		 7.85 67 5.77 4.59 31 21 2.83 5.73 2.90 3.71 7.41
Changes in Operating Assets and Liabilities, net		 2.76 -3.88 -3.44 -7.63 1.88 -1.55 0.32 -3.36 4.89 -0.69 -8.61
Net Cash From Investing Activities		 -0.74 -1.84 -1.81 -3.40 -1.82 -1.31 1.67 -0.54 -1.73 0.20 -1.24
Net Cash From Continuing Investing Activities		 -0.74 -1.84 -1.81 -3.40 -1.82 -1.31 1.67 -0.54 -1.73 0.20 -1.24
Purchase of Property, Plant & Equipment		 -0.74 -1.84 -1.81 -3.40 -1.22 -1.31 -2.82 -1.47 -1.89 -0.65 -1.43
Sale of Property, Plant & Equipment		 - - - - - - 0.00 - 0.16 0.85 0.19
Divestitures		 - - 0.00 - - - 4.50 0.60 - - 0.00
Net Cash From Financing Activities		 -0.11 0.34 -2.27 -1.11 -3.99 -5.35 -5.44 0.18 -0.01 -5.28 -10
Net Cash From Continuing Financing Activities		 -0.11 0.34 -2.27 -1.11 -3.99 -5.35 -5.44 0.18 -0.01 -5.28 -10
Repurchase of Common Equity		 - - 0.00 -1.37 -3.97 -5.58 -3.97 - - -5.51 -8.69
Other Financing Activities, net		 -0.11 -0.01 -2.27 -0.15 -0.02 -0.08 -1.47 -0.08 -0.01 -0.00 -1.66
Other Net Changes in Cash		 -0.05 0.08 -0.03 -0.22 0.34 -0.13 0.11 0.35 -0.30 -0.07 -0.03

Annual Balance Sheets for Anika Therapeutics

This table presents Anika Therapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 236 240 283 279 331 366 348 349 271 203 190
Total Current Assets		 176 170 206 203 234 177 169 170 163 114 103
Cash & Equivalents		 111 104 133 89 157 96 94 86 69 56 57
Short-Term Investments		 28 21 24 70 27 2.50 - - - 24 24
Inventories, net		 15 16 22 21 22 46 36 40 24 24 19
Prepaid Expenses		 1.39 2.10 3.21 1.85 4.29 8.75 8.29 8.83 7.48 5.49 3.40
Plant, Property, & Equipment, net		 40 52 56 54 51 51 48 48 37 39 40
Total Noncurrent Assets		 19 18 20 22 46 138 131 131 70 50 47
Noncurrent Note & Lease Receivables		 - - - - - - - - 0.00 5.94 5.64
Goodwill		 7.48 7.21 8.22 7.85 7.69 8.41 7.78 7.34 7.57 7.13 8.05
Intangible Assets		 12 10 11 9.19 7.59 91 82 75 2.58 2.49 1.65
Noncurrent Deferred & Refundable Income Taxes		 - - - - - - 0.00 1.45 1.49 1.18 1.28
Other Noncurrent Operating Assets		 0.07 0.07 1.25 4.90 30 38 41 48 33 31 30
Total Liabilities & Shareholders' Equity		 236 240 283 279 331 366 348 349 271 203 190
Total Liabilities		 25 17 19 15 42 93 60 64 58 49 47
Total Current Liabilities		 17 8.80 13 11 16 37 30 28 31 23 22
Accounts Payable		 8.30 2.30 6.75 3.14 3.83 8.98 7.63 9.07 6.19 5.62 6.04
Accrued Expenses		 4.78 6.50 6.33 8.15 12 15 18 19 14 14 16
Total Noncurrent Liabilities		 7.62 8.67 6.05 4.09 26 56 31 36 27 25 25
Other Noncurrent Operating Liabilities		 0.78 2.13 0.66 0.55 22 44 20 29 26 25 25
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 211 223 263 264 288 272 287 286 212 154 143
Total Preferred & Common Equity		 211 223 263 264 288 272 287 286 212 154 143
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 211 223 263 264 288 272 287 286 212 154 143
Common Stock		 82 62 69 51 49 55 67 81 90 89 88
Retained Earnings		 136 168 200 218 245 221 226 211 128 72 61
Accumulated Other Comprehensive Income / (Loss)		 -6.65 -7.32 -4.78 -5.53 -5.90 -4.54 -5.72 -6.44 -5.94 -6.78 -4.96

Quarterly Balance Sheets for Anika Therapeutics

This table presents Anika Therapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 328 264 263 231 191 188 189 179
Total Current Assets		 157 159 155 136 103 99 102 94
Cash & Equivalents		 71 69 63 62 53 53 58 41
Short-Term Investments		 35 32 34 28 22 24 22 26
Inventories, net		 44 49 51 40 21 17 16 23
Prepaid Expenses		 7.72 8.85 6.94 5.75 5.82 5.27 5.13 3.94
Plant, Property, & Equipment, net		 46 46 48 45 40 41 41 40
Total Noncurrent Assets		 125 59 60 51 48 47 47 46
Noncurrent Note & Lease Receivables		 - - - - 5.84 6.04 6.48 5.68
Goodwill		 7.25 7.40 7.35 7.66 7.42 8.06 8.05 7.89
Intangible Assets		 69 4.30 3.97 3.08 2.28 1.66 1.65 1.65
Noncurrent Deferred & Refundable Income Taxes		 1.42 1.27 1.36 1.47 1.19 1.25 1.25 1.15
Other Noncurrent Operating Assets		 48 46 47 39 31 30 30 30
Total Liabilities & Shareholders' Equity		 328 264 263 231 191 188 189 179
Total Liabilities		 58 55 52 52 42 40 43 45
Total Current Liabilities		 28 28 26 25 18 16 19 21
Accounts Payable		 8.25 10 9.99 6.81 5.28 4.77 4.73 6.34
Accrued Expenses		 20 18 16 19 13 11 14 15
Total Noncurrent Liabilities		 30 27 26 26 24 24 24 25
Other Noncurrent Operating Liabilities		 28 27 26 26 24 24 24 25
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 270 209 210 180 148 148 147 134
Total Preferred & Common Equity		 270 209 210 180 148 148 147 134
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 270 209 210 180 148 148 147 134
Common Stock		 86 91 93 92 88 90 91 83
Retained Earnings		 191 124 123 94 67 63 60 56
Accumulated Other Comprehensive Income / (Loss)		 -6.56 -6.32 -6.42 -5.70 -6.10 -4.76 -4.94 -5.31

Annual Metrics And Ratios for Anika Therapeutics

This table displays calculated financial ratios and metrics derived from Anika Therapeutics' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 14,637,666.00 14,623,225.00 14,661,769.00 14,211,457.00 14,269,367.00 14,214,516.00 14,436,773.00 14,609,669.00 14,640,886.00 - 14,421,219.00
DEI Adjusted Shares Outstanding		 14,637,666.00 14,623,225.00 14,661,769.00 14,211,457.00 14,269,367.00 14,214,516.00 14,436,773.00 14,609,669.00 14,640,886.00 - 14,421,219.00
DEI Earnings Per Adjusted Shares Outstanding		 2.10 2.23 2.17 1.32 1.91 -1.69 0.29 -1.02 -5.65 - -0.75
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -11.93% 11.16% 9.71% -6.93% 8.58% 13.83% 13.29% -22.98% 6.12% -0.73% -5.91%
EBITDA Growth		 -21.53% 4.69% -7.95% -45.44% 51.78% -153.69% 205.21% -22.40% -17.05% -70.10% -276.23%
EBIT Growth		 -21.67% 5.14% -9.64% -52.44% 57.47% -182.70% 109.23% 40.34% -77.00% -704.38% -116.64%
NOPAT Growth		 -19.86% 5.53% -2.74% -44.28% 46.95% -176.89% 122.47% -58.08% -149.25% -288.25% -116.64%
Net Income Growth		 -19.73% 5.82% -2.25% -41.16% 45.25% -188.19% 117.24% -459.43% -456.34% 31.79% 80.70%
EPS Growth		 -19.92% 6.97% -1.86% -39.81% 48.82% -189.42% 116.57% -464.29% -452.94% 32.09% 80.16%
Operating Cash Flow Growth		 -0.17% -38.74% 66.93% -14.44% 5.98% -64.69% -35.73% -47.49% -140.55% 402.18% 107.07%
Free Cash Flow Firm Growth		 -25.15% -77.08% 244.36% -17.55% 40.47% -484.33% 94.80% 93.42% 29,493.11% -105.29% -86.92%
Invested Capital Growth		 1.68% 35.39% 8.39% -1.54% -1.11% 80.96% 5.26% 1.13% -52.80% 2.07% -13.95%
Revenue Q/Q Growth		 8.95% -2.05% 0.59% -2.25% 2.52% 2.29% 2.17% -25.33% -26.04% -26.96% 0.01%
EBITDA Q/Q Growth		 10.25% -7.40% -5.49% 0.27% -8.25% -344.77% 285.36% 316.26% 192.88% 106.11% -32.09%
EBIT Q/Q Growth		 11.54% -7.88% -6.18% 0.16% -12.65% -408.75% 142.08% 116.79% 102.76% 94.72% 10.89%
NOPAT Q/Q Growth		 11.76% -8.39% -0.30% -3.58% -12.05% -408.75% 202.38% 112.20% 95.70% 94.72% 10.89%
Net Income Q/Q Growth		 11.72% -8.33% -0.06% -1.84% -11.88% -460.98% 172.16% 5.62% -236.39% 42.18% 67.07%
EPS Q/Q Growth		 9.84% -7.73% -0.94% 0.00% -11.68% -428.13% 168.29% 7.27% -235.71% 42.32% 66.52%
Operating Cash Flow Q/Q Growth		 3.54% -29.13% 2.28% 9.51% 8.85% -44.40% 28.95% -47.51% 63.84% -27.56% 37.56%
Free Cash Flow Firm Q/Q Growth		 -18.34% -34.87% -7.86% 53.20% -0.55% -29.27% 75.77% 96.41% 880.04% -166.25% -82.90%
Invested Capital Q/Q Growth		 4.49% 4.00% 5.62% -1.56% -4.65% 1.34% -2.74% 1.05% -43.06% 7.68% -6.50%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 77.36% 76.76% 75.87% 70.37% 74.92% 52.91% 56.12% 64.33% 68.33% 63.38% 56.56%
EBITDA Margin		 55.82% 52.56% 44.10% 25.85% 36.14% -17.05% 15.83% 15.95% 12.47% 4.31% -4.72%
Operating Margin		 51.76% 48.95% 40.32% 20.60% 29.88% -21.71% 1.77% 3.22% 0.70% -4.25% -9.80%
EBIT Margin		 51.76% 48.95% 40.32% 20.60% 29.88% -21.71% 1.77% 3.22% 0.70% -4.25% -9.80%
Profit (Net Income) Margin		 33.07% 31.48% 28.05% 17.74% 23.73% -18.38% 2.80% -13.05% -68.44% -47.02% -9.64%
Tax Burden Percent		 63.74% 63.98% 68.86% 80.67% 75.28% 83.78% 170.33% -343.64% -2,619.36% 2,039.98% 116.90%
Interest Burden Percent		 100.25% 100.52% 101.03% 106.70% 105.47% 101.07% 92.81% 117.82% 373.93% 54.19% 84.22%
Effective Tax Rate		 36.26% 36.02% 31.14% 19.33% 24.72% 0.00% -70.33% 49.12% 208.97% 0.00% 0.00%
Return on Invested Capital (ROIC)		 42.74% 38.00% 30.84% 16.64% 24.79% -13.64% 2.32% 0.94% -0.63% -3.76% -11.49%
ROIC Less NNEP Spread (ROIC-NNEP)		 42.67% 37.87% 30.60% 15.90% 23.97% -10.57% 2.68% 19.91% 79.30% 56.18% -7.62%
Return on Net Nonoperating Assets (RNNOA)		 -26.92% -22.99% -17.75% -9.54% -14.93% 5.09% -0.84% -6.13% -32.58% -27.03% 4.17%
Return on Equity (ROE)		 15.82% 15.01% 13.09% 7.10% 9.85% -8.55% 1.48% -5.19% -33.21% -30.79% -7.32%
Cash Return on Invested Capital (CROIC)		 41.07% 7.93% 22.78% 18.20% 25.91% -71.27% -2.80% -0.18% 71.11% -5.80% 3.51%
Operating Return on Assets (OROA)		 22.46% 21.26% 17.49% 7.75% 11.23% -8.13% 0.73% 1.05% 0.27% -2.16% -5.62%
Return on Assets (ROA)		 14.35% 13.68% 12.17% 6.67% 8.92% -6.89% 1.16% -4.27% -26.68% -23.82% -5.54%
Return on Common Equity (ROCE)		 15.82% 15.01% 13.09% 7.10% 9.85% -8.55% 1.48% -5.19% -33.21% -30.79% -7.32%
Return on Equity Simple (ROE_SIMPLE)		 14.59% 14.61% 12.07% 7.10% 9.43% -8.80% 1.44% -5.20% 0.00% -36.62% 0.00%
Net Operating Profit after Tax (NOPAT)		 31 32 31 18 26 -20 4.45 1.87 -0.92 -3.57 -7.74
NOPAT Margin		 32.99% 31.32% 27.76% 16.62% 22.50% -15.20% 3.01% 1.64% -0.76% -2.98% -6.86%
Net Nonoperating Expense Percent (NNEP)		 0.06% 0.13% 0.23% 0.74% 0.82% -3.08% -0.37% -18.96% -79.93% -59.94% -3.86%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 0.65% -0.43% -2.32% -5.39%
Cost of Revenue to Revenue		 22.64% 23.24% 24.13% 29.63% 25.08% 47.09% 43.88% 35.67% 31.67% 36.62% 43.44%
SG&A Expenses to Revenue		 15.94% 17.42% 18.99% 32.53% 30.49% 46.04% 50.13% 45.01% 49.61% 46.33% 43.51%
R&D to Revenue		 9.66% 10.38% 16.56% 17.23% 14.54% 17.96% 18.49% 16.10% 18.02% 21.30% 22.84%
Operating Expenses to Revenue		 25.60% 27.81% 35.56% 49.76% 45.04% 74.62% 54.35% 61.10% 67.63% 67.63% 66.35%
Earnings before Interest and Taxes (EBIT)		 48 51 46 22 34 -28 2.62 3.67 0.84 -5.10 -11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 52 54 50 27 41 -22 23 18 15 5.17 -5.32
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.65 3.21 3.00 1.81 2.57 2.36 1.80 1.51 1.56 1.57 0.97
Price to Tangible Book Value (P/TBV)		 2.91 3.49 3.23 1.94 2.71 3.72 2.63 2.12 1.64 1.67 1.04
Price to Revenue (P/Rev)		 6.01 6.93 6.97 4.53 6.46 4.93 3.50 3.80 2.75 2.01 1.23
Price to Earnings (P/E)		 18.16 22.00 24.84 25.51 27.21 0.00 125.13 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 5.51% 4.55% 4.03% 3.92% 3.68% 0.00% 0.80% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 5.80 6.03 5.96 3.05 5.37 2.98 2.17 1.74 2.80 1.93 0.92
Enterprise Value to Revenue (EV/Rev)		 4.52 5.72 5.58 3.02 4.84 4.28 2.89 3.04 2.18 1.55 0.51
Enterprise Value to EBITDA (EV/EBITDA)		 8.09 10.88 12.66 11.68 13.40 0.00 18.26 19.06 17.46 35.87 0.00
Enterprise Value to EBIT (EV/EBIT)		 8.73 11.68 13.85 14.65 16.20 0.00 163.36 94.31 311.64 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 13.69 18.26 20.11 18.16 21.52 0.00 95.91 185.36 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.53 24.18 15.51 9.13 15.00 42.72 50.88 78.50 0.00 34.32 5.13
Enterprise Value to Free Cash Flow (EV/FCFF)		 14.25 87.50 27.21 16.61 20.59 0.00 0.00 0.00 2.52 0.00 24.27
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.05 0.02 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.63 -0.61 -0.58 -0.60 -0.62 -0.48 -0.31 -0.31 -0.41 -0.48 -0.55
Leverage Ratio		 1.10 1.10 1.08 1.07 1.10 1.24 1.27 1.22 1.24 1.29 1.32
Compound Leverage Factor		 1.10 1.10 1.09 1.14 1.17 1.25 1.18 1.43 4.66 0.70 1.11
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 4.59% 1.48% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 4.59% 1.48% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 95.41% 98.52% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.59 0.18 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 3.83 -3.85 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.66 0.97 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 4.30 -20.22 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 16.14 27.50 27.54 21.19 13.01 5.55 6.97 5.77 5.12 4.51 3.14
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 10.21 19.37 15.78 17.98 14.39 4.81 5.66 6.07 5.26 4.88 4.72
Quick Ratio		 9.27 17.32 13.85 15.93 12.78 3.32 4.17 4.33 3.06 3.40 3.71
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 29 6.76 23 19 27 -104 -5.39 -0.35 104 -5.51 2.37
Operating Cash Flow to CapEx		 432.64% 174.45% 454.48% 749.96% 1,308.98% 802.52% 163.27% 58.90% -32.95% 69.86% 203.53%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.43 0.43 0.43 0.38 0.38 0.37 0.41 0.33 0.39 0.51 0.57
Accounts Receivable Turnover		 4.79 4.20 4.41 4.73 5.23 5.53 5.48 3.53 3.96 4.80 0.00
Inventory Turnover		 1.54 1.55 1.44 1.44 1.33 1.80 1.58 1.07 1.19 1.82 2.30
Fixed Asset Turnover		 2.59 2.24 2.09 1.91 2.19 2.57 3.01 2.37 2.82 3.14 2.84
Accounts Payable Turnover		 4.43 4.53 6.05 6.33 8.24 9.59 7.81 4.86 5.01 7.44 8.41
Days Sales Outstanding (DSO)		 76.15 86.94 82.74 77.11 69.83 66.00 66.61 103.37 92.14 76.03 0.00
Days Inventory Outstanding (DIO)		 237.04 234.86 253.56 252.83 274.86 202.62 231.38 340.56 306.20 200.49 158.61
Days Payable Outstanding (DPO)		 82.38 80.55 60.36 57.70 44.28 38.07 46.76 75.09 72.83 49.09 43.41
Cash Conversion Cycle (CCC)		 230.81 241.26 275.94 272.24 300.41 230.55 251.23 368.83 325.51 227.43 115.20
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 72 98 106 105 103 187 197 199 94 96 62
Invested Capital Turnover		 1.30 1.21 1.11 1.00 1.10 0.90 0.77 0.57 0.82 1.26 1.68
Increase / (Decrease) in Invested Capital		 1.20 26 8.22 -1.64 -1.16 84 9.84 2.22 -105 1.94 -10
Enterprise Value (EV)		 420 591 633 319 555 558 427 346 263 185 57
Market Capitalization		 559 716 790 478 740 643 517 432 332 241 139
Book Value per Share		 $14.40 $15.23 $17.97 $18.55 $20.21 $19.16 $19.89 $19.55 $14.50 $10.51 $9.95
Tangible Book Value per Share		 $13.10 $14.04 $16.69 $17.35 $19.14 $12.16 $13.64 $13.94 $13.81 $9.86 $9.28
Total Capital		 211 223 263 264 288 285 291 286 212 154 143
Total Debt		 0.00 0.00 0.00 0.00 0.00 13 4.32 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -138 -125 -157 -159 -185 -85 -90 -86 -69 -56 -81
Capital Expenditures (CapEx)		 9.23 14 8.98 4.66 2.83 1.63 5.14 7.49 5.43 7.73 5.50
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 21 37 36 33 33 55 49 55 64 35 0.28
Debt-free Net Working Capital (DFNWC)		 159 162 193 192 218 154 143 142 132 90 81
Net Working Capital (NWC)		 159 162 193 192 218 141 139 142 132 90 81
Net Nonoperating Expense (NNE)		 -0.08 -0.17 -0.33 -1.18 -1.41 4.16 0.32 17 82 53 3.14
Net Nonoperating Obligations (NNO)		 -138 -125 -157 -159 -185 -85 -90 -86 -118 -58 -81
Total Depreciation and Amortization (D&A)		 3.78 3.73 4.29 5.54 7.17 6.08 21 14 14 10 5.73
Debt-free, Cash-free Net Working Capital to Revenue		 22.26% 35.67% 31.74% 30.92% 28.87% 42.38% 32.93% 48.59% 52.58% 28.95% 0.25%
Debt-free Net Working Capital to Revenue		 171.14% 156.36% 170.39% 181.57% 190.24% 117.74% 96.79% 124.43% 109.49% 75.35% 72.20%
Net Working Capital to Revenue		 171.14% 156.36% 170.39% 181.57% 190.24% 107.71% 93.87% 124.43% 109.49% 75.35% 72.20%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.06 $2.22 $2.18 $1.30 $1.93 $0.00 $0.29 ($1.02) ($5.64) ($3.83) ($0.76)
Adjusted Weighted Average Basic Shares Outstanding		 14.93M 14.68M 14.58M 14.44M 14.12M 0.00 14.40M 14.56M 14.66M 14.72M 14.34M
Adjusted Diluted Earnings per Share		 $2.01 $2.15 $2.11 $1.27 $1.89 $0.00 $0.28 ($1.02) ($5.64) ($3.83) ($0.76)
Adjusted Weighted Average Diluted Shares Outstanding		 15.32M 15.12M 15.07M 14.69M 14.37M 0.00 14.63M 14.56M 14.66M 14.72M 14.34M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 14.33M 14.64M 14.69M 14.21M 14.17M 0.00 14.47M 14.63M 14.85M 14.18M 13.40M
Normalized Net Operating Profit after Tax (NOPAT)		 31 32 31 18 26 -10 -13 1.87 0.59 -3.57 -7.74
Normalized NOPAT Margin		 32.99% 31.32% 27.76% 16.62% 22.50% -7.76% -8.75% 1.64% 0.49% -2.98% -6.86%
Pre Tax Income Margin		 51.89% 49.21% 40.74% 21.99% 31.52% -21.94% 1.64% 3.80% 2.61% -2.31% -8.25%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 76.81% 0.00% 160.24% 110.32% 0.00% 0.00% 0.00% -6.05% -19.36% -87.18%

Quarterly Metrics And Ratios for Anika Therapeutics

This table displays calculated financial ratios and metrics derived from Anika Therapeutics' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 14,631,112.00 14,640,886.00 14,849,942.00 14,828,456.00 14,796,726.00 - 14,175,994.00 14,341,423.00 14,418,090.00 14,421,219.00 13,400,751.00
DEI Adjusted Shares Outstanding		 14,631,112.00 14,640,886.00 14,849,942.00 14,828,456.00 14,796,726.00 - 14,175,994.00 14,341,423.00 14,418,090.00 14,421,219.00 13,400,751.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.45 -4.30 -0.30 -0.01 -2.02 - -0.34 -0.28 -0.16 0.02 -0.38
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 2.98% -4.02% -23.47% -30.65% -28.71% 55.50% -9.83% -8.15% -5.89% 0.04% 13.16%
EBITDA Growth		 -126.57% 40.89% 94.78% -46.44% 140.38% 4.17% -509.05% -1,214.52% -186.85% 77.42% -51.60%
EBIT Growth		 -32.36% 50.59% 80.04% 50.15% 98.94% 12.61% -71.02% -130.94% -3,891.36% 191.63% -28.10%
NOPAT Growth		 -32.36% 32.70% 80.04% 50.15% 108.56% 57.80% -71.02% -130.94% -592.16% -96.61% -28.10%
Net Income Growth		 -57.51% -1,183.62% 56.39% 96.79% -354.96% 65.29% -7.95% -4,411.36% 92.22% 101.34% -3.76%
EPS Growth		 -55.17% -1,200.00% 56.34% 100.00% -351.11% 65.50% -9.68% 0.00% 92.12% 101.34% -8.82%
Operating Cash Flow Growth		 139.39% 656.34% 96.52% 87.11% -22.65% -56.51% -3.17% 82.32% 36.96% 193.11% -3,627.69%
Free Cash Flow Firm Growth		 1,865.12% 1,144.34% 1,139.45% 310.70% 187.12% -80.93% -44.84% -57.13% -73.52% -82.54% -93.44%
Invested Capital Growth		 -16.23% -52.80% -35.52% -45.56% -46.03% 2.07% -32.26% -37.97% -25.25% -13.95% -8.11%
Revenue Q/Q Growth		 -6.40% -106.99% 1,101.10% 5.86% -3.79% -103.33% -14.49% 7.84% -1.42% 10.06% -3.28%
EBITDA Q/Q Growth		 -1,227.00% 641.89% -101.45% 156.11% 749.60% 223.04% -343.18% -2.67% 33.79% 207.32% -307.79%
EBIT Q/Q Growth		 -111.35% 421.89% -110.14% 27.74% 95.52% 199.29% -507.66% 2.43% 22.66% 119.98% -949.54%
NOPAT Q/Q Growth		 -111.35% 395.20% -111.06% 27.74% 136.29% 227.59% -106.67% 2.43% 22.66% 167.29% -352.27%
Net Income Q/Q Growth		 -139.91% -858.03% 92.83% 98.05% -33,897.73% 26.92% 77.71% 18.53% 41.34% 112.54% -1,831.51%
EPS Q/Q Growth		 -136.84% -853.33% 92.77% 100.00% 0.00% 27.09% 77.18% 17.65% 42.86% 112.50% -1,950.00%
Operating Cash Flow Q/Q Growth		 178.20% -43.90% -103.46% -748.41% 569.22% -68.46% -108.22% -45.38% 3,734.92% -32.50% -204.51%
Free Cash Flow Firm Q/Q Growth		 159.74% 354.47% -52.38% 62.97% -18.59% -59.08% -52.26% 26.66% -49.72% -42.59% -82.07%
Invested Capital Q/Q Growth		 -20.96% -43.06% 14.66% 5.48% -21.63% 7.68% 0.89% -3.41% -5.56% -6.50% 7.74%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 60.16% 0.00% 65.38% 66.69% 65.66% 0.00% 56.10% 50.90% 56.02% 62.65% 64.15%
EBITDA Margin		 -12.58% 0.00% -1.52% 0.81% 7.13% 0.00% -10.29% -9.79% -6.58% 6.42% -13.78%
Operating Margin		 -18.51% 0.00% -8.63% -5.89% -0.27% 0.00% -16.37% -14.81% -11.62% 2.11% -18.53%
EBIT Margin		 -18.51% 0.00% -8.63% -5.89% -0.27% 0.00% -16.37% -14.81% -11.62% 2.11% -18.53%
Profit (Net Income) Margin		 -15.86% 0.00% -15.55% -0.29% -101.21% 0.00% -18.62% -14.07% -8.37% 0.95% -17.07%
Tax Burden Percent		 93.42% -249.22% 235.96% 7.24% -9,205.54% -76.55% 125.95% 100.10% 104.16% 38.22% 104.87%
Interest Burden Percent		 91.73% 102.34% 76.37% 67.13% -401.23% 102.67% 90.31% 94.88% 69.16% 118.27% 87.85%
Effective Tax Rate		 0.00% 35.80% 0.00% 0.00% 667.69% 10.05% 0.00% 0.00% 0.00% -135.73% 0.00%
Return on Invested Capital (ROIC)		 -11.68% 0.00% -4.92% -2.51% 1.06% 0.00% -14.83% -12.89% -11.78% 8.33% -21.52%
ROIC Less NNEP Spread (ROIC-NNEP)		 -10.43% 0.00% -2.30% -3.97% 32.05% 0.00% -12.70% -11.69% -11.71% 9.85% -19.82%
Return on Net Nonoperating Assets (RNNOA)		 3.63% 0.00% 1.00% 1.33% -13.95% 0.00% 6.27% 5.67% 6.12% -5.39% 9.98%
Return on Equity (ROE)		 -8.05% 0.00% -3.92% -1.19% -12.89% 0.00% -8.57% -7.22% -5.66% 2.95% -11.55%
Cash Return on Invested Capital (CROIC)		 5.87% 71.11% 46.15% 61.69% 66.81% -5.80% 33.15% 39.85% 17.76% 3.51% -3.79%
Operating Return on Assets (OROA)		 -8.94% 0.00% -3.20% -1.96% -0.08% 0.00% -8.44% -7.54% -6.23% 1.21% -11.65%
Return on Assets (ROA)		 -7.66% 0.00% -5.77% -0.10% -31.26% 0.00% -9.60% -7.16% -4.49% 0.55% -10.73%
Return on Common Equity (ROCE)		 -8.05% 0.00% -3.92% -1.19% -12.89% 0.00% -8.57% -7.22% -5.66% 2.95% -11.55%
Return on Equity Simple (ROE_SIMPLE)		 -9.09% 0.00% -36.84% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -5.37 16 -1.75 -1.27 0.46 25 -3.00 -2.93 -2.26 1.52 -3.84
NOPAT Margin		 -12.96% 0.00% -6.04% -4.12% 1.56% 0.00% -11.46% -10.37% -8.14% 4.97% -12.97%
Net Nonoperating Expense Percent (NNEP)		 -1.25% -77.10% -2.62% 1.46% -30.99% -53.22% -2.13% -1.20% -0.08% -1.51% -1.71%
Return On Investment Capital (ROIC_SIMPLE)		 - 7.47% -0.84% -0.60% 0.26% 16.25% -2.02% -1.98% -1.54% 1.06% -2.87%
Cost of Revenue to Revenue		 39.84% 0.00% 34.62% 33.31% 34.34% 0.00% 43.90% 49.10% 43.98% 37.35% 35.85%
SG&A Expenses to Revenue		 59.87% 0.00% 51.93% 50.83% 45.82% 0.00% 49.32% 43.34% 42.68% 39.46% 60.02%
R&D to Revenue		 18.79% 0.00% 22.08% 21.75% 20.12% 0.00% 23.15% 22.37% 24.97% 21.07% 22.67%
Operating Expenses to Revenue		 78.66% 0.00% 74.01% 72.58% 65.93% 0.00% 72.47% 65.71% 67.65% 60.54% 82.69%
Earnings before Interest and Taxes (EBIT)		 -7.67 25 -2.51 -1.81 -0.08 28 -4.28 -4.18 -3.23 0.65 -5.49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -5.22 28 -0.44 0.25 2.11 32 -2.69 -2.76 -1.83 1.96 -4.08
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.01 1.56 1.81 1.79 2.03 1.57 1.44 1.03 0.92 0.97 1.45
Price to Tangible Book Value (P/TBV)		 1.40 1.64 1.92 1.89 2.16 1.67 1.54 1.10 0.99 1.04 1.56
Price to Revenue (P/Rev)		 1.67 2.75 3.37 3.82 4.23 2.01 1.82 1.32 1.20 1.23 1.67
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.01 2.80 2.56 2.45 3.08 1.93 1.89 1.06 0.83 0.92 1.90
Enterprise Value to Revenue (EV/Rev)		 1.02 2.18 2.47 2.84 3.18 1.55 1.18 0.65 0.49 0.51 1.10
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 17.46 10.92 11.12 8.47 35.87 178.84 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 311.64 25.38 21.95 13.53 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 67.91 64.34 30.76 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 162.26 31.25 36.84 34.32 25.51 11.88 6.81 5.13 19.70
Enterprise Value to Free Cash Flow (EV/FCFF)		 15.72 2.52 4.36 2.80 3.23 0.00 4.59 2.03 4.00 24.27 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.35 -0.41 -0.43 -0.33 -0.44 -0.48 -0.49 -0.49 -0.52 -0.55 -0.50
Leverage Ratio		 1.22 1.24 1.24 1.22 1.24 1.29 1.27 1.26 1.29 1.32 1.31
Compound Leverage Factor		 1.12 1.27 0.95 0.82 -4.99 1.33 1.15 1.19 0.89 1.56 1.15
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 4.54 5.41 5.74 5.91 5.77 5.04 4.59 3.81 3.42 3.34 4.03
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 5.59 5.26 5.59 5.93 5.34 4.88 5.73 6.18 5.32 4.72 4.46
Quick Ratio		 3.75 3.06 3.54 3.70 3.56 3.40 4.21 4.80 4.20 3.71 3.19
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 27 121 58 94 76 23 32 40 20 12 2.08
Operating Cash Flow to CapEx		 875.17% 197.72% -6.97% -31.41% 412.50% 121.04% -4.60% -12.88% 396.65% 0.00% -391.12%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.48 0.39 0.37 0.33 0.31 0.51 0.52 0.51 0.54 0.57 0.63
Accounts Receivable Turnover		 0.00 3.96 0.00 0.00 0.00 4.80 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 1.54 1.19 0.73 0.60 0.52 1.82 1.28 1.43 1.83 2.30 2.18
Fixed Asset Turnover		 3.50 2.82 2.36 2.06 1.91 3.14 2.71 2.58 2.65 2.84 2.90
Accounts Payable Turnover		 7.52 5.01 3.50 3.14 2.89 7.44 5.93 6.63 8.85 8.41 8.29
Days Sales Outstanding (DSO)		 0.00 92.14 0.00 0.00 0.00 76.03 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 236.70 306.20 498.34 610.27 699.05 200.49 284.70 254.86 199.88 158.61 167.46
Days Payable Outstanding (DPO)		 48.54 72.83 104.20 116.37 126.27 49.09 61.57 55.03 41.24 43.41 44.04
Cash Conversion Cycle (CCC)		 188.15 325.51 394.14 493.89 572.78 227.43 223.13 199.83 158.63 115.20 123.43
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 165 94 108 114 89 96 73 71 67 62 67
Invested Capital Turnover		 0.90 0.82 0.81 0.61 0.68 1.26 1.29 1.24 1.45 1.68 1.66
Increase / (Decrease) in Invested Capital		 -32 -105 -59 -95 -76 1.94 -35 -43 -23 -10 -5.93
Enterprise Value (EV)		 167 263 276 279 275 185 138 75 55 57 128
Market Capitalization		 273 332 377 376 365 241 213 152 136 139 194
Book Value per Share		 $18.49 $14.50 $14.04 $14.18 $12.16 $10.51 $10.47 $10.30 $10.18 $9.95 $9.99
Tangible Book Value per Share		 $13.29 $13.81 $13.26 $13.42 $11.43 $9.86 $9.78 $9.62 $9.51 $9.28 $9.28
Total Capital		 270 212 209 210 180 154 148 148 147 143 134
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -105 -69 -101 -97 -91 -56 -75 -77 -80 -81 -67
Capital Expenditures (CapEx)		 0.74 1.84 1.81 3.40 1.22 1.31 2.82 1.47 1.73 -0.20 1.24
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 23 64 30 32 20 35 9.25 6.11 2.32 0.28 5.81
Debt-free Net Working Capital (DFNWC)		 129 132 131 129 111 90 85 83 83 81 73
Net Working Capital (NWC)		 129 132 131 129 111 90 85 83 83 81 73
Net Nonoperating Expense (NNE)		 1.20 79 2.76 -1.18 30 47 1.87 1.04 0.07 1.23 1.21
Net Nonoperating Obligations (NNO)		 -105 -118 -101 -97 -91 -58 -75 -77 -80 -81 -67
Total Depreciation and Amortization (D&A)		 2.46 3.57 2.06 2.06 2.19 3.96 1.59 1.42 1.40 1.32 1.41
Debt-free, Cash-free Net Working Capital to Revenue		 14.32% 52.58% 26.63% 32.84% 23.02% 28.95% 7.90% 5.34% 2.06% 0.25% 4.99%
Debt-free Net Working Capital to Revenue		 78.81% 109.49% 116.63% 131.09% 128.02% 75.35% 72.28% 72.66% 73.14% 72.20% 62.44%
Net Working Capital to Revenue		 78.81% 109.49% 116.63% 131.09% 128.02% 75.35% 72.28% 72.66% 73.14% 72.20% 62.44%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.45) ($4.29) ($0.31) ($0.01) ($2.03) ($1.48) ($0.34) ($0.28) ($0.16) $0.02 ($0.37)
Adjusted Weighted Average Basic Shares Outstanding		 14.64M 14.66M 14.70M 14.84M 14.77M 14.72M 14.30M 14.36M 14.42M 14.34M 13.53M
Adjusted Diluted Earnings per Share		 ($0.45) ($4.29) ($0.31) ($0.01) ($2.03) ($1.48) ($0.34) ($0.28) ($0.16) $0.02 ($0.37)
Adjusted Weighted Average Diluted Shares Outstanding		 14.64M 14.66M 14.70M 14.84M 14.77M 14.72M 14.30M 14.52M 14.42M 14.34M 13.53M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 14.64M 14.85M 14.83M 14.80M 14.65M 14.18M 14.34M 14.42M 14.42M 13.40M 13.31M
Normalized Net Operating Profit after Tax (NOPAT)		 -5.37 16 -1.75 -1.27 -0.06 25 -3.00 -2.93 -2.26 0.45 -3.84
Normalized NOPAT Margin		 -12.96% 0.00% -6.04% -4.12% -0.19% 0.00% -11.46% -10.37% -8.14% 1.48% -12.97%
Pre Tax Income Margin		 -16.98% 0.00% -6.59% -3.95% 1.10% 0.00% -14.79% -14.05% -8.04% 2.50% -16.28%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -20.35% -6.05% 0.00% -1.85% -5.47% -19.36% -26.23% -22.29% -28.89% -87.18% -128.39%

Financials Breakdown Chart

Key Financial Trends

Anika Therapeutics’ latest quarter shows a sharp rebound in revenue growth, but profitability and cash flow remain under pressure. In Q1 2026, revenue rose to $29.6 million from $26.2 million a year ago, but the company still posted a net loss of $5.1 million and burned $4.8 million in operating cash. The balance sheet remains healthy, with $41.0 million in cash and equivalents and $25.8 million in short-term investments, giving the company a solid liquidity cushion.

  • Revenue increased to $29.6 million in Q1 2026 from $26.2 million in Q1 2025, showing continued top-line growth.
  • Gross profit improved to $19.0 million, with gross margin around 64%, indicating good product economics.
  • The company ended Q1 2026 with $66.8 million in cash and short-term investments, providing flexibility.
  • Total equity was $133.9 million, which is still well above total liabilities of $45.5 million.
  • Operating revenue has generally held in the $26 million to $31 million range over the last five quarters, suggesting a relatively stable base business.
  • R&D spending remained elevated at $6.7 million in Q1 2026, which may support future product development but also weighs on near-term earnings.
  • SG&A expense rose to $17.8 million, up from $12.1 million in Q4 2025, showing higher operating costs.
  • The company bought back $8.7 million of common equity in Q1 2026, continuing an active share repurchase pattern.
  • Inventory remained high at $22.8 million, which may reflect working-capital needs and could become a risk if demand slows.
  • Anika reported a net loss of $5.1 million in Q1 2026, versus a $0.3 million profit in Q4 2025.
  • Operating cash flow was negative $4.8 million, reversing from positive $4.6 million in Q4 2025.
  • The company recorded negative operating income of $5.5 million, meaning core operations are still unprofitable.
  • Cash and equivalents fell from $57.9 million in Q3 2025 to $41.0 million in Q1 2026, reflecting significant cash usage.
  • Compared with Q1 2025, total assets declined from $190.6 million to $179.4 million, while liabilities stayed elevated, suggesting a smaller overall asset base.

Bottom line: Anika Therapeutics is showing better revenue momentum and still has a strong liquidity position, but the latest quarter highlights renewed losses and negative cash generation. Investors will likely want to see operating margin improvement and a return to positive free cash flow before confidence in a durable turnaround increases.

07/07/26 01:12 AM ETAI Generated. May Contain Errors.

Anika Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Anika Therapeutics' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Anika Therapeutics' net income appears to be on an upward trend, with a most recent value of -$10.88 million in 2025, falling from $30.76 million in 2015. The previous period was -$56.39 million in 2024. See where experts think Anika Therapeutics is headed by visiting Anika Therapeutics' forecast page.

Anika Therapeutics' total operating income in 2025 was -$11.05 million, based on the following breakdown:
  • Total Gross Profit: $63.81 million
  • Total Operating Expenses: $74.86 million

Over the last 10 years, Anika Therapeutics' total revenue changed from $93.00 million in 2015 to $112.82 million in 2025, a change of 21.3%.

Anika Therapeutics' total liabilities were at $46.81 million at the end of 2025, a 4.0% decrease from 2024, and a 88.0% increase since 2015.

In the past 10 years, Anika Therapeutics' cash and equivalents has ranged from $55.63 million in 2024 to $157.46 million in 2019, and is currently $57.48 million as of their latest financial filing in 2025.

Over the last 10 years, Anika Therapeutics' book value per share changed from 14.40 in 2015 to 9.95 in 2025, a change of -30.9%.


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Financial statements for NASDAQ:ANIK last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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