Anika Therapeutics (ANIK) Q3 FY2026 earnings: revenue $31 million, up 10.0% on the year

Anika Therapeutics, Inc. (ANIK) reported revenue of $31 million for Q3 FY2026, the quarter ended 30 September 2026, up 10.0% on the same quarter a year earlier. Net income was -$311,000, and diluted earnings per share $-0.02. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2026.

Revenue

$31 million

+10.0% on the year · -6.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-2.3%

-11.6% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$311,000

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.02

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 1 lowered, 2 narrowed, 3 kept.

Revenue rose 10% in quarter: Total revenue was $30.6 million, against $27.8 million a year earlier. Management attributed growth to Commercial Channel expansion and steady OEM Channel execution.
Commercial Channel revenue up 17%: Commercial Channel revenue was $14.0 million, supported by international viscosupplement growth and Integrity adoption. OEM Channel revenue was $16.6 million.
Hyvisc distribution deal runs 10 years: Anika entered a new 10-year Hyvisc distribution partnership with its existing partner, Boehringer Ingelheim, in November.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	30.6	32.6	27.8	-6.2%	+10.0%
Cost of revenue	11.8	11.4	12.2	+3.4%	-3.9%
Gross profit	18.8	21.2	15.6	-11.3%	+20.9%
Gross margin	61.6%	65.1%	56.0%
Research and development	7.9	7.3	6.9	+7.5%	+13.7%
Selling, general and administrative	11.7	10.9	11.9	+6.4%	-1.8%
Operating income	-0.7	3.0	-3.2
Operating margin	-2.3%	9.1%	-11.6%
Pre-tax income	-0.3	3.4	-2.2
Income tax	-0.0	0.1	0.9
Effective tax rate	n/a	2.1%	n/a
Net income	-0.3	3.3	-2.3
Net margin	-1.0%	10.1%	-8.4%
Diluted EPS	-$0.02	$0.24	-$0.16

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	8.4	-0.7	6.9		+21.9%
Capital expenditure	1.7	1.4	1.9	+14.6%	-12.0%
Free cash flow	6.7	-2.1	5.0		+34.8%
Free cash flow margin	22.0%	-6.5%	17.9%
Cash from investing	-1.8	-1.3	-1.7
Cash from financing	-0.0	-0.7	-0.0
Depreciation and amortisation	1.4	1.5	1.4	-4.4%	+2.8%
Share-based compensation	4.2	1.8	2.2	+131.5%	+91.6%
Buybacks	0.0	0.9	0.0
Diluted shares, weighted	13m	14m	14m	-2.4%	-7.2%
Shares outstanding at period end	13m	13m	14m	+0.1%	-7.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	138	137	147	+0.2%	-6.3%
Debt	0.0	0.0	0.0
Operating lease liabilities	24.6	23.3	22.8	+5.4%	+7.8%
Other liabilities	27.5	22.9	19.9	+20.0%	+38.3%
Total liabilities and equity	190	183	189	+3.3%	+0.1%
Fixed assets	40.7	40.1	40.7	+1.6%	+0.1%
Goodwill	7.8	7.8	8.1	-0.6%	-3.4%
Intangible assets	1.6	1.6	1.6	0.0%	0.0%
Investments	n/a	n/a	22.2
Cash and equivalents	45.0	38.4	58.0	+17.0%	-22.5%
Receivables	24.3	29.1	22.2	-16.5%	+9.3%
Inventory	30.4	28.6	16.3	+6.3%	+86.4%
Other assets	39.9	37.9	20.4	+5.3%	+95.4%
Total assets	190	183	189	+3.3%	+0.1%

Questions

What was Anika Therapeutics' revenue in Q3 FY2026?

Anika Therapeutics (ANIK) reported revenue of $31 million for Q3 FY2026, the quarter ended 30 September 2026, up 10.0% on the same quarter a year earlier.

How much did Anika Therapeutics earn in Q3 FY2026?

Net loss for Q3 FY2026 was $311,000, and the diluted loss per share $0.02.

When did Anika Therapeutics report Q3 FY2026 results?

Anika Therapeutics filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 6 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 * †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	35.8	36.7	39.7	40.3	39.6	37.9	44.3	41.5	43.0	29.0	30.7	29.6	30.6	26.2	28.2	27.8	30.6	29.6	32.6	30.6
Cost of revenue	17.7	14.9	14.8	17.5	15.5	15.1	15.3	16.5	16.6	10.0	10.2	10.2	13.5	11.5	13.9	12.2	11.4	10.6	11.4	11.8
Gross profit	18.1	21.8	24.9	22.8	24.1	22.8	29.0	24.9	26.3	19.0	20.5	19.4	17.1	14.7	14.4	15.6	19.2	19.0	21.2	18.8
Gross margin	51%	59%	63%	57%	61%	60%	65%	60%	61%	65%	67%	66%	56%	56%	51%	56%	63%	64%	65%	62%
R&D	6.0	6.2	7.0	7.3	7.7	8.4	8.9	7.8	7.6	6.4	6.7	5.9	6.5	6.1	6.3	6.9	6.5	6.7	7.3	7.9
SG&A	20.4	19.2	21.3	21.3	23.0	27.0	23.7	24.8	20.3	15.1	15.6	13.5	11.3	12.9	12.2	11.9	12.1	17.8	10.9	11.7
Operating income	-9.1	-3.6	-3.4	-5.8	-6.7	-12.6	-3.6	-7.7	-63.8	-2.5	-1.8	-0.1	-0.7	-4.3	-4.2	-3.2	0.6	-5.5	3.0	-0.7
Operating margin	-25%	-10%	-9%	-14%	-17%	-33%	-8%	-19%	-148%	-9%	-6%	-0%	-2%	-16%	-15%	-12%	2%	-19%	9%	-2%
Pre-tax income	-9.2	-3.7	-3.3	-5.4	-6.4	-12.0	-3.1	-7.0	-63.2	-1.9	-1.2	0.3	0.0	-3.9	-4.0	-2.2	0.8	-4.8	3.4	-0.3
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	668%	6474%	n/a	n/a	n/a	-136%	n/a	2%	n/a
Net income	-5.8	-2.9	-2.8	-4.2	-4.9	-10.3	-2.7	-6.6	-63.0	-4.5	-0.1	-29.9	-21.9	-4.9	-4.0	-2.3	0.3	-5.1	3.3	-0.3
Net margin	-16%	-8%	-7%	-10%	-12%	-27%	-6%	-16%	-147%	-16%	-0%	-101%	-71%	-19%	-14%	-8%	1%	-17%	10%	-1%
Diluted EPS	-$0.41	-$0.20	-$0.20	-$0.29	-$0.34	-$0.71	-$0.19	-$0.45	-$4.30	-$0.31	-$0.01	-$2.03	-$1.48	-$0.34	-$0.28	-$0.16	$0.02	-$0.37	$0.24	-$0.02
Operating cash flow	4.5	-1.9	3.1	2.7	0.5	-3.6	-8.3	6.5	3.6	-0.1	-1.1	5.0	1.6	-0.1	-0.2	6.9	4.6	-4.8	-0.7	8.4
Capital expenditure	1.1	1.3	1.9	1.7	2.5	1.4	1.5	0.7	1.8	1.8	3.4	1.2	1.3	2.8	1.5	1.9	0.6	1.4	1.4	1.7
Free cash flow	3.3	-3.2	1.1	1.0	-2.0	-5.0	-9.8	5.7	1.8	-1.9	-4.5	3.8	0.3	-3.0	-1.7	5.0	4.0	-6.3	-2.1	6.7
Buybacks	n/a	n/a	n/a	0.0	n/a	n/a	n/a	0.0	n/a	0.0	1.4	4.0	5.6	4.0	0.0	0.0	5.5	8.7	0.9	0.0
Shares outstanding	14m	15m	15m	15m	15m	15m	15m	15m	15m	15m	15m	15m	14m	14m	14m	14m	14m	13m	13m	13m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 6 November 2026: the filing.