Anika Therap

Q2 FY2026 EarningsQ2 FY26 performance significantly beat consensus across all key metrics: revenue of $32.6M exceeded the expected $29.2M, while GAAP EPS of $0.24 swung to a profit against an anticipated loss of -$0.175. Gross margin expanded to 65.0% vs. 57.0% expected, driven by favorable product mix and manufacturing yields. Management raised full-year FY26 Adjusted EBITDA margin guidance to 13%-17%, up from the previous 5%-10%, reflecting robust operating leverage despite a downward revision to the 2027 revenue outlook due to regulatory timing.