Anika Therapeutics Sees FY24 Revenue $168M-$173M Vs $179.42M Est.
Portfolio Pulse from Benzinga Newsdesk
Anika Therapeutics projects FY24 revenue to be between $168M-$173M, below the estimated $179.42M. The company aims for accelerated profitability growth, with a focus on high-growth products. Revenue growth is expected across different product families, with OA Pain Management growing 0% to 2%, Joint Preservation and Restoration by 6% to 10%, and a decline in Non-Orthopedic by 14% to 19%. Adjusted EBITDA is anticipated to be $25M-$30M, a significant increase, reflecting cost savings and new product ramp-ups.
March 13, 2024 | 8:35 pm
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Anika Therapeutics expects FY24 revenue to fall short of estimates at $168M-$173M, but projects significant EBITDA growth to $25M-$30M.
The projected revenue falling short of estimates may negatively impact investor sentiment in the short term, despite the positive outlook on profitability and EBITDA growth. The focus on high-growth products and significant EBITDA increase are positive, but the lower revenue forecast is likely to weigh more heavily on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100