Anika Says Cost Reduction Initiatives Complete; Says On-Track For FY24 Revenue Guidance Of $168M-$173M (Est $170.272M)
Portfolio Pulse from Benzinga Newsdesk
Anika Therapeutics has completed its cost reduction initiatives and is on track to meet its FY24 revenue guidance of $168M-$173M, with an expected adjusted EBITDA of $25M-$30M, representing a significant increase over the previous year.
May 08, 2024 | 10:31 pm
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Anika Therapeutics has announced the completion of its cost reduction initiatives and is projecting a FY24 revenue of $168M-$173M with a significant increase in adjusted EBITDA to $25M-$30M.
The completion of cost reduction initiatives and the projection of significant revenue and adjusted EBITDA growth for FY24 are strong positive indicators for Anika Therapeutics. These factors are likely to be viewed favorably by investors, potentially leading to a positive impact on the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100