Anika Therapeutics Files Q3 2024 10-Q

TL;DR

Anika Therapeutics filed its Q3 2024 10-Q, check financials.

AI Summary

Anika Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results and provided updates on its business operations. Key financial figures and operational details are included in the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Anika Therapeutics, crucial for understanding the company's trajectory in the medical device sector.

Risk Assessment

Risk Level: medium — The filing contains standard financial reporting for a public company, but specific operational or financial risks are not detailed in the provided snippet.

Key Players & Entities

• Anika Therapeutics, Inc. (company) — Filer
• 0001171843-24-005993 (other) — Accession Number
• 20240930 (date) — Reporting Period End Date
• 20241104 (date) — Filing Date
• 3841 (other) — Standard Industrial Classification Code
• 32 WIGGINS AVENUE, BEDFORD, MA 01730 (address) — Business Address
• Arthrosurface (company) — Product/Segment Mentioned
• May 2024 Share Repurchase Plan Rule 10b5-1 (plan) — Share Repurchase Program

FAQ

Key Financial Figures

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

Filing Documents

• anik20240930_10q.htm (10-Q) — 1348KB
• ex_741204.htm (EX-31.1) — 12KB
• ex_741205.htm (EX-31.2) — 11KB
• ex_741206.htm (EX-32.1) — 5KB
• 0001171843-24-005993.txt ( ) — 6090KB
• anik-20240930.xsd (EX-101.SCH) — 52KB
• anik-20240930_def.xml (EX-101.DEF) — 369KB
• anik-20240930_lab.xml (EX-101.LAB) — 327KB
• anik-20240930_pre.xml (EX-101.PRE) — 397KB
• anik-20240930_cal.xml (EX-101.CAL) — 39KB
• anik20240930_10q_htm.xml (XML) — 950KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27 Part II Other Information 27 Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29

Signatures

Signatures 30 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, 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 may be 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) September 30, December 31, ASSETS 2024 2023 Current assets: Cash and cash equivalents $ 62,368 $ 72,867 Accounts receivable, net 28,357 35,961 Inventories 39,629 46,386 Prepaid expenses and other current assets 5,752 8,095 Total current assets 136,106 163,309 Property and equipment, net 44,572 46,198 Right-of-use assets 27,208 28,767 Other long-term assets 11,310 18,672 Deferred tax assets 1,472 1,489 Intangible assets, net 3,081 4,626 Goodwill 7,656 7,571 Total assets $ 231,405 $ 270,632 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities: Accounts payable $ 6,805 $ 9,860 Accrued expenses and other current liabilities 18,688 21,199 Total current liabilities 25,493 31,059 Other long-term liabilities 806 404 Lease liabilities 25,242 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 September 30, 2024 and December 31, 2023, respectively - - Common stock, $ 0.01 par value; 90,000 shares authorized, 15,087 issued and 14,694 outstanding and 14,848 issued and 14,660 outstanding at September 30, 2024 and December 31, 2023, respectively 147 147 Additional paid-in-capital 91,886 90,009 Accumulated other comprehensive loss ( 5,701 ) ( 5,943 ) Retained earnings 93,532 128,052 Total stockholders' equity 179,864 212,265 Total liabilities and stockholders' equity $ 231,405 $ 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) (unau

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View this 10-Q filing on SEC EDGAR