Filing Flows › Anika Therapeutics (ANIK) › Q3 2025
Anika Therapeutics (ANIK) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Anika Therapeutics (ANIK) reported revenue of $27.8M for the third quarter 2025 (Q3 2025), -6% from a year earlier and -1% from the quarter before. Operating margin was -11.6%, net loss $2.3M (8.4% of revenue).
Anika Therapeutics, Q3 2025: revenue $27.8M (-6% year over year), operating margin -11.6%, net loss $2.3M, operating cash flow $6.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $27.8M | -1% | -6% |
| Operating profit | −$3.2M | — | — |
| Net earnings | −$2.3M | — | — |
| Operating cash flow | $6.9M | — | +37% |
| Free cash flow | $5.0M | — | +31% |
What changed
Revenue was $27.8M in Q3 2025, down 6% year over year and down 1% from the previous quarter. OEM Channel was the largest line at 57% of revenue. OEM Channel lost $3.9M year over year (down 20%), 225% of the total change.
Gross margin was 56.0%, down 9.6 points from a year earlier. Operating costs exceeded revenue by $3.2M, an operating margin of -11.6%. Operating expenses fell 60% while revenue fell 6%. The fastest-growing cost line was Research & development (+17%). The quarter ended with a net loss of $2.3M, narrower than the previous quarter's $4.0M loss. Non-operating items added $1.8M, -133% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $6.9M (up 37% year over year). Non-cash charges added back $1.4M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items added $5.6M. Capital expenditures of $1.9M left free cash flow of $5.0M.
Questions
What was Anika Therapeutics' revenue in the third quarter 2025?
Anika Therapeutics (ANIK) reported revenue of $27.8M for the third quarter 2025 (Q3 2025), -6% from a year earlier and -1% from the quarter before.
Was Anika Therapeutics profitable in the third quarter 2025?
Operating loss was $3.2M (-11.6% of revenue) and net loss $2.3M.
Source: Anika Therapeutics 10-Q on SEC EDGAR.