Anika Reports First Quarter 2024 Financial Results
BEDFORD, Mass., May 08, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company in early intervention orthopedics, today reported financial results for its first quarter ended March 31, 2024.
- Revenue up 7% on growing demand and favorable order timing; On-track for 2024 revenue guidance
Cost reduction initiatives complete; On-track to achieve 2024 adjusted EBITDA guidance of $25-30 million, up over 75% at the midpoint
BEDFORD, Mass., May 08, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company in early intervention orthopedics, today reported financial results for its first quarter ended March 31, 2024. - Revenue in the first quarter of 2024 was $40.5 million, up 7% compared to $37.9 million in the first quarter of 2023.
- As such, Anika expects revenue for fiscal year 2024 of $168 to $173 million, representing growth of 1% to 4% compared to 2023.
- Anika’s management will hold a conference call and webcast to discuss its financial results and business highlights today, Wednesday, May 8, 2024, at 5:30 pm ET.