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Anika Therapeutics cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$6.7M in Q3 2026 · $2.3M over twelve months

Operating cash flow$8.4M
Capital spending−$1.7M
Free cash flow+$6.7M
Cash conversion cycle263 days

Analysis

In Q3 2026, Anika Therapeutics generated $8.4M of operating cash flow and spent $1.7M on capital projects, leaving free cash flow of $6.7M. That is $1.7M more than in Q3 2025 ($5.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $7.5M; the largest uses were buybacks ($15.1M), capital spending ($5.2M), taxes on employees’ shares ($1.7M); besides operations, cash came from other investing ($1.1M), other financing ($437K); the cash balance fell by $13.0M.

Operating cash flow was $8.4M against net income of −$311K. The largest differences: receivables +$4.8M, stock-based pay +$4.2M, inventory −$2.9M.

Its cash conversion cycle was 263 days (receivables 80 + inventory 231 − payables 48).

Free cash flow

Anika Therapeutics: free cash flow by quarterAnika Therapeutics: free cash flow by quarter$275KQ4 2024−$3.0MQ1 2025−$1.7MQ2 2025$5.0MQ3 2025$4.0MQ4 2025−$6.3MQ1 2026−$2.1MQ2 2026$6.7MQ3 2026
Operating cash flow less capital spending.
Anika Therapeutics: operating cash flow against capital spendingAnika Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending$1.6M$1.3MQ4 2024−$130K$2.8MQ1 2025−$189K$1.5MQ2 2025$6.9M$1.9MQ3 2025$4.6M$648KQ4 2025−$4.8M$1.4MQ1 2026−$684K$1.4MQ2 2026$8.4M$1.7MQ3 2026
Latest (Q3 2026): Operating cash flow $8.4M, Capital spending $1.7M.

Capital allocation, year by year

Anika Therapeutics: where the cash came from (up) and went (down), by fiscal yearAnika Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $8.4MFY2021: Net borrowing −$201KFY2021: Shares issued $1.1MFY2021: Capital spending −$5.1MFY2021: Acquisitions −$476K$9.5MFY2021FY2022: Operating cash flow $4.4MFY2022: Net borrowing −$284KFY2022: Shares issued $16KFY2022: Capital spending −$7.5M$4.4MFY2022FY2023: Operating cash flow −$1.8MFY2023: Shares issued $23KFY2023: Capital spending −$5.4MFY2023: Buybacks −$5.0M$23KFY2023FY2024: Operating cash flow $5.4MFY2024: Shares issued $76KFY2024: Capital spending −$7.7MFY2024: Buybacks −$10.9M$5.5MFY2024FY2025: Operating cash flow $11.2MFY2025: Asset sales $4.5MFY2025: Capital spending −$6.8MFY2025: Buybacks −$9.5M$15.7MFY2025
Over these 5 years operating cash flow totalled $27.6M; the largest uses were capital spending ($32.6M) and buybacks ($25.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$70.7M
Debtnone
Net cash$70.7M

Anika Therapeutics funds itself: free cash flow was $2.3M over the last twelve months, with $70.7M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Anika Therapeutics: sources (+) and uses (−) of cash, Q3 2026Anika Therapeutics: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$8.4MCash drawn (+) / kept (−)−$6.5MCapital spending−$1.7MOther investing−$95KExchange rates−$49KTaxes on employees’ shares−$27K
Anika Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Anika Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$15.1MCash drawn (+) / kept (−)$13.0MOperating cash flow$7.5MCapital spending−$5.2MTaxes on employees’ shares−$1.7MOther investing$1.1MOther financing$437KExchange rates−$86KShares issued$12K

From profit to cash

Anika Therapeutics: net income to operating cash flow, Q3 2026Anika Therapeutics: net income to operating cash flow, Q3 2026Net income−$311KDepreciation & amortization$1.4MStock-based pay$4.2MDeferred taxes$92KGains on disposals$90KReceivables$4.8MInventory−$2.9MPayables−$625KAccrued liabilities$1.6MPrepaid and other assets−$555KIncome taxes payable−$167KOperating cash flow$8.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20268023148263
Q2 20267720650232
Q1 20267517652199
Q4 20256914143167
Q3 20257612536165
Q2 20257412633167
Q1 20257817743213
Q4 20247821742252

Every quarter

QuarterOperating cash flowCapital spendingBuybacksCash drawn (+) / kept (−)Free cash flow
Q3 2026$8.4M−$1.7M—−$6.5M$6.7M
Q2 2026−$684K−$1.4M−$853K$2.6M−$2.1M
Q1 2026−$4.8M−$1.4M−$8.7M$16.5M−$6.3M
Q4 2025$4.6M−$648K−$5.5M$509K$4.0M
Q3 2025$6.9M−$1.9M—−$4.8M$5.0M
Q2 2025−$189K−$1.5M—$204K−$1.7M
Q1 2025−$130K−$2.8M−$4.0M$3.8M−$3.0M
Q4 2024$1.6M−$1.3M−$5.6M$5.2M$275K

Anika Therapeutics: income statement and cash flow

Anika Therapeutics, Q3 2026: revenue $30.6M (+10% year over year), operating margin -2.3%. The chart follows the revenue to costs, profit and cash.

Anika Therapeutics: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.