Anika Therapeutics Q2 2024 10-Q Filed

TL;DR

Anika Therapeutics Q2 10-Q is in: check financials, stock options, and buybacks.

AI Summary

Anika Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and first half of 2024, including details on stock-based compensation and share repurchase plans. Key financial data and operational updates are provided within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Anika Therapeutics, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial performance and any disclosed risks within the report can influence the risk level.

Key Numbers

• Q2 2024 — Reporting Period (Financials for the second quarter of 2024 are detailed.)
• First Half 2024 — Reporting Period (Financials for the first six months of 2024 are detailed.)

Key Players & Entities

• Anika Therapeutics, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240808 (date) — Filing date
• 32 WIGGINS AVENUE (location) — Company's business and mailing address
• BEDFORD, MA (location) — Company's business and mailing address

FAQ

Key Financial Figures

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

Filing Documents

• anik20240630_10q.htm (10-Q) — 1219KB
• ex_707261.htm (EX-31.1) — 14KB
• ex_707262.htm (EX-31.2) — 13KB
• ex_707263.htm (EX-32.1) — 8KB
• 0001171843-24-004615.txt ( ) — 5594KB
• anik-20240630.xsd (EX-101.SCH) — 47KB
• anik-20240630_def.xml (EX-101.DEF) — 308KB
• anik-20240630_lab.xml (EX-101.LAB) — 290KB
• anik-20240630_pre.xml (EX-101.PRE) — 341KB
• anik-20240630_cal.xml (EX-101.CAL) — 38KB
• anik20240630_10q_htm.xml (XML) — 916KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22 Part II Other Information 22 Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 24

Signatures

Signatures 25 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) June 30, December 31, ASSETS 2024 2023 Current assets: Cash and cash equivalents $ 62,822 $ 72,867 Accounts receivable, net 33,773 35,961 Inventories 51,464 46,386 Prepaid expenses and other current assets 6,941 8,095 Total current assets 155,000 163,309 Property and equipment, net 47,685 46,198 Right-of-use assets 27,765 28,767 Other long-term assets 19,524 18,672 Deferred tax assets 1,362 1,489 Intangible assets, net 3,969 4,626 Goodwill 7,350 7,571 Total assets $ 262,655 $ 270,632 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities: Accounts payable $ 9,994 $ 9,860 Accrued expenses and other current liabilities 16,127 21,199 Total current liabilities 26,121 31,059 Other long-term liabilities 407 404 Lease liabilities 25,789 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 June 30, 2024 and December 31, 2023, respectively - - Common stock, $ 0.01 par value; 90,000 shares authorized, 15,080 issued and 14,839 outstanding and 14,848 issued and 14,660 outstanding at June 30, 2024 and December 31, 2023, respectively 148 147 Additional paid-in-capital 93,156 90,009 Accumulated other comprehensive loss ( 6,416 ) ( 5,943 ) Retained earnings 123,450 128,052 Total stockholders' equity 210,338 212,265 Total liabilities and stockholders' equity $ 262,655 $ 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) For t

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View this 10-Q filing on SEC EDGAR