Anika Therapeutics

ANIK

Medical - Devices · Healthcare

Price

$15.25

-0.57 (-3.60%)

Market Cap

$202.9M

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count falling — buybacks

−2.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 14.6M (2021) → 14.3M (2025)

Anika Therapeutics, Inc., a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, soft tissue repair, and bone preserving joint technologies in the United States, Europe, and internationally. The company develops, manufactures, and commercializes products based on hyaluronic acid (HA) technology platform. Its OA pain management product family consists of Monovisc, Orthovisc,

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+13.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-8.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$26M/ year

→ Flat (+1% vs prior year)

22.8% of revenue

In line with sector average (18%)

Steady R&D investment year-over-year

Insider Activity

6.3%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~20 months

$41M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Adequate runway but may need to raise capital within 2 years

Growth context

Anika Therapeutics is growing revenue at 13% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

64.2%

Premium pricing power — 64.2% gross margin

Operating Margin

-18.5%

Losing money on operations — -18.5%

ROCE

-4.0%

Weak — -4.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+23.2%

Fast-growing sales (23.2% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

0.9%

Thin free cash flow (0.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.01

Conservative — low debt load (0.01)

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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