Anika Therapeutics 2025 Q3 Earnings 92.2% Reduction in Net Loss

Anika Therapeutics (ANIK) reported fiscal 2025 Q3 earnings on Nov 5, 2025, with results showing a significant narrowing of losses and in-line revenue performance. The company beat non-GAAP EPS estimates by $0.02 while maintaining 2025 revenue guidance. Despite a 5.9% year-over-year revenue decline, the management reaffirmed channel-specific projections, signaling confidence in long-term strategic execution.

Revenue

Anika Therapeutics reported total revenue of $27.82 million for Q3 2025, a 5.9% decline from $29.56 million in the same period last year. The OEM Channel contributed $15.84 million, while the Commercial Channel generated $11.97 million, totaling $27.82 million in total revenue.

Earnings/Net Income

The company narrowed losses to $0.16 per share in Q3 2025, a 92.1% improvement from a $2.03 loss per share in Q3 2024. Net losses decreased to $-2.33 million, representing a 92.2% reduction from $-29.92 million a year ago. This marked a significant improvement in profitability, with the EPS beat underscoring operational efficiency gains.

Post-Earnings Price Action Review

Anika Therapeutics’ stock price declined 6.90% during the latest trading day, despite a 1.76% weekly gain and a 6.37% month-to-date increase. The mixed short-term performance reflects investor caution following the earnings release, though the long-term trajectory remains supported by the company’s strategic initiatives and buyback announcement.

CEO Commentary

Dr. Cheryl Blanchard, CEO of Anika Therapeutics, emphasized progress in operational efficiency and product development during the earnings call. She highlighted the narrowing losses as a testament to disciplined cost management and reaffirmed confidence in the Hyalofast PMA filing, stating, “We believe the comprehensive results of the FastTRACK study reinforce Hyalofast’s potential as a transformative, single-stage, off-the-shelf cartilage repair solution for patients in the U.S.”

Guidance

Anika Therapeutics maintained its 2025 revenue guidance, projecting $47–$49.5 million for the Commercial Channel (12–18% growth) and $62–$65 million for the OEM Channel (16–20% decline). Adjusted EBITDA as a percentage of revenue is expected to range between positive 3% and negative 3%. The company also announced a $15 million share buyback program through June 2026.

Additional News

Anika Therapeutics filed the final PMA module for Hyalofast with the FDA on October 31, 2025, despite the FastTRACK trial missing primary endpoints. The company cited post-hoc analyses showing statistically significant improvements in secondary endpoints and real-world evidence. Additionally, the board approved a $15 million share buyback program, signaling confidence in the stock’s valuation. CEO Cheryl Blanchard underscored optimism about Hyalofast’s regulatory prospects, noting the product’s global real-world success in over 35,000 patients. These developments highlight the company’s strategic focus on innovation and shareholder value.