Anika Therapeutics Inc Financials
This page shows Anika Therapeutics Inc (ANIK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
In FY2025, cash flow recovered through working-capital release even as the core business stayed loss-making and margin-compressed.
The most important change is that free cash flow turned positive at$4.4M despite a-$10.9M net loss. That gap is explained less by earnings repair than by working-capital release: operating cash flow reached$11.2M as inventory dropped roughly$5.0M from FY2024 while receivables stayed almost flat.
From FY2023 to FY2025, gross margin fell from
Liquidity is still a cushion: cash of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Anika Therapeutics Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Anika Therapeutics Inc has an operating margin of -9.8%, meaning the company retains $-10 of operating profit per $100 of revenue. This below-average margin results in a low score of 9/100, suggesting thin profitability after operating expenses. This is down from -4.3% the prior year.
Anika Therapeutics Inc's revenue declined 5.9% year-over-year, from $119.9M to $112.8M. This contraction results in a growth score of 28/100.
Anika Therapeutics Inc carries a low D/E ratio of 0.33, meaning only $0.33 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.72, Anika Therapeutics Inc holds $4.72 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 94/100.
Anika Therapeutics Inc's free cash flow margin of 3.9% results in a low score of 25/100. Capital expenditures of $6.8M absorb a large share of operating cash flow.
Anika Therapeutics Inc generates a -7.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -36.4% the prior year.
Anika Therapeutics Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Anika Therapeutics Inc generates $-1.02 in operating cash flow ($11.2M OCF vs -$11.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Anika Therapeutics Inc generated $112.8M in revenue in fiscal year 2025. This represents a decrease of 5.9% from the prior year.
Anika Therapeutics Inc's EBITDA was -$5.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 418.5% from the prior year.
Anika Therapeutics Inc reported -$11.0M in net income in fiscal year 2025. This represents an increase of 80.4% from the prior year.
Anika Therapeutics Inc earned $-0.76 per diluted share (EPS) in fiscal year 2025. This represents an increase of 80.2% from the prior year.
Cash & Balance Sheet
Anika Therapeutics Inc generated $4.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 287.1% from the prior year.
Anika Therapeutics Inc held $57.5M in cash against $0 in long-term debt as of fiscal year 2025.
Anika Therapeutics Inc had 14M shares outstanding in fiscal year 2025. This represents a decrease of 3.7% from the prior year.
Margins & Returns
Anika Therapeutics Inc's gross margin was 56.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 6.8 percentage points from the prior year.
Anika Therapeutics Inc's operating margin was -9.8% in fiscal year 2025, reflecting core business profitability. This is down 5.5 percentage points from the prior year.
Anika Therapeutics Inc's net profit margin was -9.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 37.0 percentage points from the prior year.
Anika Therapeutics Inc's ROE was -7.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 28.7 percentage points from the prior year.
Capital Allocation
Anika Therapeutics Inc invested $25.8M in research and development in fiscal year 2025. This represents an increase of 0.9% from the prior year.
Anika Therapeutics Inc spent $9.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 13.1% from the prior year.
Anika Therapeutics Inc invested $6.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 11.7% from the prior year.
ANIK Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $29.6M-3.3% | $30.6M+10.1% | $27.8M-1.4% | $28.2M+7.8% | $26.2M-14.5% | $30.6M+3.5% | $29.6M-3.8% | $30.7M |
| Cost of Revenue | $10.6M-7.2% | $11.4M-6.5% | $12.2M-11.7% | $13.9M+20.6% | $11.5M-14.8% | $13.5M+32.8% | $10.2M-0.8% | $10.2M |
| Gross Profit | $19.0M-0.9% | $19.2M+23.1% | $15.6M+8.5% | $14.4M-2.2% | $14.7M-14.3% | $17.1M-11.8% | $19.4M-5.3% | $20.5M |
| R&D Expenses | $6.7M+4.0% | $6.5M-7.1% | $6.9M+10.0% | $6.3M+4.2% | $6.1M-6.9% | $6.5M+9.4% | $5.9M-11.0% | $6.7M |
| SG&A Expenses | $17.8M+47.1% | $12.1M+1.8% | $11.9M-2.9% | $12.2M-5.2% | $12.9M+14.0% | $11.3M-16.4% | $13.5M-13.3% | $15.6M |
| Operating Income | -$5.5M-949.5% | $646K+120.0% | -$3.2M+22.7% | -$4.2M+2.4% | -$4.3M-507.7% | -$705K-770.4% | -$81K+95.5% | -$1.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $235K+122.7% | -$1.0M-210.4% | $939K+37.9% | $681K+665.2% | $89K-96.5% | $2.5M+16.4% | $2.2M+63.7% | $1.3M |
| Net Income | -$5.1M-3039.5% | $172K+107.4% | -$2.3M+41.3% | -$4.0M+18.5% | -$4.9M+77.3% | -$21.5M+28.2% | -$29.9M-33897.7% | -$88K |
| EPS (Diluted) | $-0.37 | N/A | $-0.16+42.9% | $-0.28+17.6% | $-0.34 | N/A | $-2.03 | $0.00 |
ANIK Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $179.4M-5.7% | $190.3M+0.4% | $189.4M+0.9% | $187.7M-1.5% | $190.6M-6.0% | $202.7M-12.4% | $231.4M-11.9% | $262.7M |
| Current Assets | $93.6M-9.5% | $103.4M+1.7% | $101.6M+2.3% | $99.3M-3.1% | $102.5M-9.8% | $113.7M-16.5% | $136.1M-12.2% | $155.0M |
| Cash & Equivalents | $41.0M-28.6% | $57.5M-0.9% | $58.0M+9.1% | $53.2M-0.4% | $53.4M-4.1% | $55.6M-10.8% | $62.4M-0.7% | $62.8M |
| Inventory | $22.8M+21.6% | $18.8M+15.4% | $16.3M-3.8% | $16.9M-20.7% | $21.3M-10.4% | $23.8M-39.9% | $39.6M-23.0% | $51.5M |
| Accounts Receivable | $25.8M+8.8% | $23.7M+6.8% | $22.2M-7.4% | $24.0M+9.0% | $22.0M-6.8% | $23.6M-16.8% | $28.4M-16.0% | $33.8M |
| Goodwill | $7.9M-2.0% | $8.1M0.0% | $8.1M-0.1% | $8.1M+8.5% | $7.4M+4.2% | $7.1M-6.9% | $7.7M+4.2% | $7.3M |
| Total Liabilities | $45.5M-2.8% | $46.8M+9.8% | $42.6M+6.6% | $40.0M-5.2% | $42.2M-13.4% | $48.8M-5.4% | $51.5M-1.5% | $52.3M |
| Current Liabilities | $21.0M-4.3% | $21.9M+14.8% | $19.1M+18.7% | $16.1M-10.2% | $17.9M-23.2% | $23.3M-8.6% | $25.5M-2.4% | $26.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $133.9M-6.7% | $143.5M-2.3% | $146.8M-0.6% | $147.7M-0.5% | $148.4M-3.6% | $154.0M-14.4% | $179.9M-14.5% | $210.3M |
| Retained Earnings | $55.7M-8.3% | $60.8M+0.5% | $60.5M-3.7% | $62.8M-5.9% | $66.8M-6.8% | $71.7M-23.4% | $93.5M-24.2% | $123.5M |
ANIK Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.8M-204.5% | $4.6M-32.5% | $6.9M+3734.9% | -$189K-45.4% | -$130K-108.2% | $1.6M-68.5% | $5.0M+569.2% | -$1.1M |
| Capital Expenditures | $1.4M+120.8% | $648K-65.7% | $1.9M+28.6% | $1.5M-48.1% | $2.8M+116.1% | $1.3M+7.5% | $1.2M-64.3% | $3.4M |
| Free Cash Flow | -$6.3M-257.4% | $4.0M-19.9% | $5.0M+400.9% | -$1.7M+43.9% | -$3.0M-1174.2% | $275K-92.8% | $3.8M+185.0% | -$4.5M |
| Investing Cash Flow | -$1.2M-725.8% | $198K+111.4% | -$1.7M-221.3% | -$539K-132.2% | $1.7M+227.9% | -$1.3M+28.0% | -$1.8M+46.6% | -$3.4M |
| Financing Cash Flow | -$10.3M-96.0% | -$5.3M-40507.7% | -$13K-107.3% | $179K+103.3% | -$5.4M-1.6% | -$5.4M-34.2% | -$4.0M-259.2% | -$1.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $8.7M+57.6% | $5.5M | $0 | $0-100.0% | $4.0M-28.8% | $5.6M+40.5% | $4.0M+189.7% | $1.4M |
ANIK Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.1%+1.5pp | 62.6%+6.6pp | 56.0%+5.1pp | 50.9%-5.2pp | 56.1%+0.1pp | 56.0%-9.7pp | 65.7%-1.0pp | 66.7% |
| Operating Margin | -18.5%-20.6pp | 2.1%+13.7pp | -11.6%+3.2pp | -14.8%+1.6pp | -16.4%-14.1pp | -2.3%-2.0pp | -0.3%+5.6pp | -5.9% |
| Net Margin | -17.1%-17.6pp | 0.6%+8.9pp | -8.4%+5.7pp | -14.1%+4.6pp | -18.6%+51.6pp | -70.2%+31.0pp | -101.2%-100.9pp | -0.3% |
| Return on Equity | -3.8%-3.9pp | 0.1%+1.7pp | -1.6%+1.1pp | -2.7%+0.6pp | -3.3%+10.7pp | -13.9%+2.7pp | -16.6%-16.6pp | -0.0% |
| Return on Assets | -2.8%-2.9pp | 0.1%+1.3pp | -1.2%+0.9pp | -2.1%+0.4pp | -2.6%+8.0pp | -10.6%+2.3pp | -12.9%-12.9pp | -0.0% |
| Current Ratio | 4.46-0.3 | 4.72-0.6 | 5.32-0.9 | 6.18+0.4 | 5.73+0.8 | 4.88-0.5 | 5.34-0.6 | 5.93 |
| Debt-to-Equity | 0.34+0.0 | 0.33+0.0 | 0.29+0.0 | 0.27-0.0 | 0.28-0.0 | 0.32+0.0 | 0.29+0.0 | 0.25 |
| FCF Margin | -21.2%-34.2pp | 13.0%-4.9pp | 17.9%+23.8pp | -5.9%+5.4pp | -11.3%-12.2pp | 0.9%-12.0pp | 12.9%+27.4pp | -14.6% |
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Frequently Asked Questions
What is Anika Therapeutics Inc's annual revenue?
Anika Therapeutics Inc (ANIK) reported $112.8M in total revenue for fiscal year 2025. This represents a -5.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Anika Therapeutics Inc's revenue growing?
Anika Therapeutics Inc (ANIK) revenue declined by 5.9% year-over-year, from $119.9M to $112.8M in fiscal year 2025.
Is Anika Therapeutics Inc profitable?
No, Anika Therapeutics Inc (ANIK) reported a net income of -$11.0M in fiscal year 2025, with a net profit margin of -9.8%.
What is Anika Therapeutics Inc's EBITDA?
Anika Therapeutics Inc (ANIK) had EBITDA of -$5.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Anika Therapeutics Inc's gross margin?
Anika Therapeutics Inc (ANIK) had a gross margin of 56.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Anika Therapeutics Inc's operating margin?
Anika Therapeutics Inc (ANIK) had an operating margin of -9.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Anika Therapeutics Inc's net profit margin?
Anika Therapeutics Inc (ANIK) had a net profit margin of -9.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Anika Therapeutics Inc's return on equity (ROE)?
Anika Therapeutics Inc (ANIK) has a return on equity of -7.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Anika Therapeutics Inc's free cash flow?
Anika Therapeutics Inc (ANIK) generated $4.4M in free cash flow during fiscal year 2025. This represents a 287.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Anika Therapeutics Inc's operating cash flow?
Anika Therapeutics Inc (ANIK) generated $11.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Anika Therapeutics Inc's total assets?
Anika Therapeutics Inc (ANIK) had $190.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Anika Therapeutics Inc's capital expenditures?
Anika Therapeutics Inc (ANIK) invested $6.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Anika Therapeutics Inc spend on research and development?
Anika Therapeutics Inc (ANIK) invested $25.8M in research and development during fiscal year 2025.
What is Anika Therapeutics Inc's current ratio?
Anika Therapeutics Inc (ANIK) had a current ratio of 4.72 as of fiscal year 2025, which is generally considered healthy.
What is Anika Therapeutics Inc's debt-to-equity ratio?
Anika Therapeutics Inc (ANIK) had a debt-to-equity ratio of 0.33 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Anika Therapeutics Inc's return on assets (ROA)?
Anika Therapeutics Inc (ANIK) had a return on assets of -5.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Anika Therapeutics Inc's Piotroski F-Score?
Anika Therapeutics Inc (ANIK) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Anika Therapeutics Inc's earnings high quality?
Anika Therapeutics Inc (ANIK) has an earnings quality ratio of -1.02x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Anika Therapeutics Inc?
Anika Therapeutics Inc (ANIK) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.