Anika Therapeutics Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Anika Therapeutics, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operational information.</b>

AI Summary

Anika Therapeutics, Inc. (ANIK) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Anika Therapeutics, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's principal executive offices are located at 32 Wiggins Avenue, Bedford, MA. Anika Therapeutics, Inc. is classified under SIC code 3841 (Surgical & Medical Instruments & Apparatus). The report was filed on May 8, 2024.

Why It Matters

For investors and stakeholders tracking Anika Therapeutics, Inc., this filing contains several important signals. This filing provides investors with the latest financial results and operational updates for Anika Therapeutics, Inc. for the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, strategic direction, and potential risks and opportunities.

Risk Assessment

Risk Level: low — Anika Therapeutics, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine business operations.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Anika Therapeutics' performance and outlook.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-05-08 — Filing Date (Filed as of Date)
• 2024-01-01 — Quarter Start Date (Q1 2024)

Key Players & Entities

• Anika Therapeutics, Inc. (company) — Filer
• 32 Wiggins Avenue, Bedford, MA (location) — Business Address
• 0000898437 (company_id) — Central Index Key
• 3841 (industry_code) — Standard Industrial Classification
• 1934 Act (regulation) — SEC Act
• 001-14027 (filing_id) — SEC File Number

FAQ

Industry Context

Anika Therapeutics operates in the medical instruments and apparatus industry, focusing on surgical and medical devices.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended March 31, 2024.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers.
3. Examine any disclosed risk factors or legal proceedings for potential impacts on the company.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.01 — ch Registered Common Stock, par value $0.01 per share ANIK NASDAQ Global Select

Filing Documents

• anik20240331c_10q.htm (10-Q) — 944KB
• ex_665260.htm (EX-31.1) — 16KB
• ex_665261.htm (EX-31.2) — 18KB
• ex_665262.htm (EX-32.1) — 7KB
• 0001171843-24-002682.txt (&nbsp;) — 5002KB
• anik-20240331.xsd (EX-101.SCH) — 45KB
• anik-20240331_def.xml (EX-101.DEF) — 298KB
• anik-20240331_lab.xml (EX-101.LAB) — 280KB
• anik-20240331_pre.xml (EX-101.PRE) — 329KB
• anik-20240331_cal.xml (EX-101.CAL) — 36KB
• anik20240331c_10q_htm.xml (XML) — 786KB

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25 Part II Other Information 25 Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 27

Signatures

Signatures 28 References in this Quarterly Report on Form 10-Q to "we," "us," "our," "our company," and other similar references refer to Anika Therapeutics, Inc. and its subsidiaries unless the context otherwise indicates. ANIKA, ANIKA THERAPEUTICS, ARTHROSURFACE, CINGAL, HYAFF, HYALOFAST, HYVISC, INTEGRITY, MONOVISC, ORTHOVISC, PARCUS MEDICAL, and TACTOSET are our registered trademarks that appear in this Quarterly Report on Form 10-Q. For convenience, these trademarks appear in this Quarterly Report on Form 10-Q without and symbols, but that practice does not mean that we will not assert, to the fullest extent under applicable law, our rights to the trademarks. This Quarterly Report on Form 10-Q also contains trademarks and trade names that are the property of other companies and licensed to us. PART I: FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS Anika Therapeutics, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands, except per share data) (unaudited) March 31, December 31, ASSETS 2024 2023 Current assets: Cash and cash equivalents $ 68,629 $ 72,867 Accounts receivable, net 32,077 35,961 Inventories, net 49,408 46,386 Prepaid expenses and other current assets 8,848 8,095 Total current assets 158,962 163,309 Property and equipment, net 46,057 46,198 Right-of-use assets 28,181 28,767 Other long-term assets 17,571 18,672 Deferred tax assets 1,273 1,489 Intangible assets, net 4,297 4,626 Goodwill 7,403 7,571 Total assets $ 263,744 $ 270,632 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities: Accounts payable $ 10,022 $ 9,860 Accrued expenses and other current liabilities 18,438 21,199 Total current liabilities 28,460 31,059 Other long-term liabilities 404 404 Lease liabilities 26,344 26,904 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $ 0.01 par value; 1,250 shares authorized, no shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively - - Common stock, $ 0.01 par value; 90,000 shares authorized, 15,009 issued and 14,821 outstanding and 14,848 issued and 14,660 outstanding at March 31, 2024 and December 31, 2023, respectively 148 147 Additional paid-in-capital 91,165 90,009 Accumulated other comprehensive loss ( 6,315 ) ( 5,943 ) Retained earnings 123,538 128,052 Total stockholders' equity 208,536 212,265 Total liabilities and stockholders' equity $ 263,744 $ 270,632 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Anika Therapeutics, Inc. and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands, except per share data) (unaudited

View Full Filing

View this 10-Q filing on SEC EDGAR