Anika Therapeutics reported 2Q21 orthopedic revenue of $36.2 million, +25.4% vs. 2Q20. Compared to the same period in 2019, the company’s orthopedic revenue grew +32% on the strength of joint preservation products acquired from Parcus and Arthosurface. Anika’s legacy joint pain management franchise declined -8.7% compared to 2Q19.
Company leaders estimated that the market has returned to about 85% of pre-COVID capacity, and the viscosupplement business has largely stabilized. Anika increased its overall full-year 2021 revenue guidance to growth in the range of +11% to +14%, an increase of +1% at both the bottom and top ends of the range. Within that, the company also increased its growth expectations for viscosupplements from low single digits to mid-single digits.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
2Q21
2Q20
$ Chg
% Chg
Joint Replacement
$7.2
$4.0
$3.2
79.5%
Knees
$1.4
$0.8
$0.6
69.5%
Extremities
$5.8
$3.2
$2.6
82%
Sports Medicine
$4.7
$2.6
$2.1
79.5%
Orthobiologics
$24.3
$22.2
$2.1
9.3%
Total
$36.2
$28.9
$7.3
25.4%
1H21
1H20
$ Chg
% Chg
Joint Replacement
$14.5
$8.8
$5.8
66%
Knees
$2.7
$1.8
$1.0
56.8%
Extremities
$11.8
$7.0
$4.8
68.3%
Sports Medicine
$9.6
$5.8
$3.8
66%
Orthobiologics
$43.6
$47.7
($4.1)
(8.6%)
Total
$67.7
$62.2
$5.5
8.8%
Geographic Sales
2Q21
2Q20
$ Chg
% Chg
US
$28.5
$23.7
$4.9
20.7%
OUS
$7.7
$5.2
$2.4
46.9%
EMEA
$4.8
$2.7
$2.1
76.4%
ROW
$2.8
$2.5
$0.4
14.3%
Total
$36.2
$28.9
$7.3
25.4%
1H21
1H20
$ Chg
% Chg
US
$51.5
$48.5
$3.1
6.4%
OUS
$16.2
$13.8
$2.4
17.5%
EMEA
$9.9
$7.7
$2.2
28%
ROW
$6.3
$6.1
$0.3
4.3%
Total
$67.7
$62.2
$5.5
8.8%
Earnings
Amt
% of Sales
Sales
$38.1
Cost of Sales
$17.3
45.4%
R & D
$17.9
46.9%
Selling and Admin
$7.3
19.1%
Other
($11.1)
(29.1%)
Net Earnings
$6.7
17.6%
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Anika Therapeutics reported 2Q21 orthopedic revenue of $36.2 million, +25.4% vs. 2Q20. Compared to the same period in 2019, the company's orthopedic revenue grew +32% on the strength of joint preservation products acquired from Parcus and Arthosurface. Anika's legacy joint pain management franchise declined -8.7% compared to 2Q19.
Company...
Anika Therapeutics reported 2Q21 orthopedic revenue of $36.2 million, +25.4% vs. 2Q20. Compared to the same period in 2019, the company’s orthopedic revenue grew +32% on the strength of joint preservation products acquired from Parcus and Arthosurface. Anika’s legacy joint pain management franchise declined -8.7% compared to 2Q19.
Company leaders estimated that the market has returned to about 85% of pre-COVID capacity, and the viscosupplement business has largely stabilized. Anika increased its overall full-year 2021 revenue guidance to growth in the range of +11% to +14%, an increase of +1% at both the bottom and top ends of the range. Within that, the company also increased its growth expectations for viscosupplements from low single digits to mid-single digits.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
2Q21
2Q20
$ Chg
% Chg
Joint Replacement
$7.2
$4.0
$3.2
79.5%
Knees
$1.4
$0.8
$0.6
69.5%
Extremities
$5.8
$3.2
$2.6
82%
Sports Medicine
$4.7
$2.6
$2.1
79.5%
Orthobiologics
$24.3
$22.2
$2.1
9.3%
Total
$36.2
$28.9
$7.3
25.4%
1H21
1H20
$ Chg
% Chg
Joint Replacement
$14.5
$8.8
$5.8
66%
Knees
$2.7
$1.8
$1.0
56.8%
Extremities
$11.8
$7.0
$4.8
68.3%
Sports Medicine
$9.6
$5.8
$3.8
66%
Orthobiologics
$43.6
$47.7
($4.1)
(8.6%)
Total
$67.7
$62.2
$5.5
8.8%
Geographic Sales
2Q21
2Q20
$ Chg
% Chg
US
$28.5
$23.7
$4.9
20.7%
OUS
$7.7
$5.2
$2.4
46.9%
EMEA
$4.8
$2.7
$2.1
76.4%
ROW
$2.8
$2.5
$0.4
14.3%
Total
$36.2
$28.9
$7.3
25.4%
1H21
1H20
$ Chg
% Chg
US
$51.5
$48.5
$3.1
6.4%
OUS
$16.2
$13.8
$2.4
17.5%
EMEA
$9.9
$7.7
$2.2
28%
ROW
$6.3
$6.1
$0.3
4.3%
Total
$67.7
$62.2
$5.5
8.8%
Earnings
Amt
% of Sales
Sales
$38.1
Cost of Sales
$17.3
45.4%
R & D
$17.9
46.9%
Selling and Admin
$7.3
19.1%
Other
($11.1)
(29.1%)
Net Earnings
$6.7
17.6%
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
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