Anika Therapeutics (ANIK) 10-K 5 Mar 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 24, 2021	Jun. 30, 2020
Document Information [Line Items]
Entity Central Index Key	0000898437
Entity Registrant Name	Anika Therapeutics, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-14027
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3145961
Entity Address, Address Line One	32 Wiggins Avenue
Entity Address, City or Town	Bedford
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01730
City Area Code	781
Local Phone Number	457-9000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ANIK
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 530,765,794
Entity Common Stock, Shares Outstanding		14,329,618

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 95,817	$ 157,463
Investments	2,501	27,480
Accounts receivable, net of reserves of $1,523 and $962 at December 31, 2020 and December 31, 2019, respectively	24,102	23,079
Inventories, net	46,209	21,995
Prepaid expenses and other current assets	8,754	4,289
Total current assets	177,383	234,306
Property and equipment, net	50,613	50,783
Right-of-use assets	22,619	22,864
Other long-term assets	15,420	7,478
Intangible assets, net	91,157	7,585
Goodwill	8,413	7,694
Total assets	365,605	330,710
Current liabilities:
Accounts payable	8,984	3,832
Accrued expenses and other current liabilities	14,793	12,445
Contingent consideration – current portion	13,090	0
Total current liabilities	36,867	16,277
Other long-term liabilities	1,244	357
Contingent consideration – long term portion	22,320	0
Deferred tax liability	11,895	4,331
Lease liabilities	20,879	21,367
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred stock, $0.01 par value; 1,250 shares authorized, no shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	0	0
Common stock, $.01 par value; 90,000 shares authorized, 14,329 and 14,308 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	143	143
Additional paid-in-capital	55,355	48,707
Accumulated other comprehensive loss	(4,542)	(5,898)
Retained earnings	221,444	245,426
Total stockholders’ equity	272,400	288,378
Total liabilities and stockholders’ equity	$ 365,605	$ 330,710

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable, reserves	$ 1,523	$ 962
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,250	1,250
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	90,000	90,000
Common stock, shares issued (in shares)	14,329	14,308
Common stock, shares outstanding (in shares)	14,329	14,308

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 130,457	$ 114,610	$ 105,555
Cost of revenue	61,431	28,747	31,280
Gross profit	69,026	85,863	74,275
Operating expenses:
Research & development	23,431	16,665	18,190
Selling, general & administrative	60,063	34,950	34,336
Goodwill impairment charge	42,520	0	0
Change in fair value of contingent consideration	(28,666)	0	0
Total operating expenses	97,348	51,615	52,526
Income (loss) from operations	(28,322)	34,248	21,749
Interest and other (expense) income, net	(302)	1,873	1,458
Income before income taxes	(28,624)	36,121	23,207
Provision (benefit) for income taxes	(4,642)	8,928	4,485
Net income (loss)	$ (23,982)	$ 27,193	$ 18,722
Net income (loss) per share:
Basic (in dollars per share)	$ (1.69)	$ 1.93	$ 1.30
Diluted (in dollars per share)	$ (1.69)	$ 1.89	$ 1.27
Weighted average common shares outstanding:
Basic (in shares)	14,222,163	14,120,584	14,441,536
Diluted (in shares)	14,222,163	14,373,783	14,689,041
Net income (loss)	$ (23,982)	$ 27,193	$ 18,722
Foreign currency translation adjustment	1,356	(372)	(742)
Comprehensive income (loss)	(22,626)	26,821	17,980
Product [Member]
Revenue	130,457	114,512	105,531
Service [Member]
Revenue	$ 0	$ 98	$ 24

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Restricted Stock Units (RSUs) [Member]Common Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2017		14,688
Balance at Dec. 31, 2017		$ 147	$ 68,617	$ 199,511	$ (4,784)	$ 263,491
Issuance of common stock for equity awards (in shares)		362
Issuance of common stock for equity awards		$ 4	2,882	0	0	2,886
Retirement of common stock for minimum tax withholdings (in shares)		(34)
Retirement of common stock for minimum tax withholdings		$ (1)	(1,790)	0	0	(1,791)
Stock-based compensation expense		$ 0	11,046	0	0	11,046
Repurchase of common stock (in shares)		(806)
Repurchase of common stock		$ (8)	(29,992)	0	0	(30,000)
Net income (loss)		0	0	18,722	0	18,722
Other comprehensive income (loss)		$ 0	0	0	(742)	(742)
Balance (in shares) at Dec. 31, 2018		14,210
Balance at Dec. 31, 2018		$ 142	50,763	218,233	(5,526)	263,612
Issuance of common stock for equity awards (in shares)		551
Issuance of common stock for equity awards		$ 6	22,145	0	0	22,151
Retirement of common stock for minimum tax withholdings (in shares)		(5)
Retirement of common stock for minimum tax withholdings		$ 0	(293)	0	0	(293)
Stock-based compensation expense		$ 0	6,087	0	0	6,087
Repurchase of common stock (in shares)		(452)
Repurchase of common stock		$ (5)	(29,995)	0	0	(30,000)
Net income (loss)		0	0	27,193	0	27,193
Other comprehensive income (loss)		$ 0	0	0	(372)	(372)
Vesting of restricted stock units (in shares)	17
Forfeiture of restricted stock awards (in shares)		(13)
Balance (in shares) at Dec. 31, 2019		14,308
Balance at Dec. 31, 2019		$ 143	48,707	245,426	(5,898)	288,378
Issuance of common stock for equity awards (in shares)		123
Issuance of common stock for equity awards		$ 1	1,523	0	0	1,524
Retirement of common stock for minimum tax withholdings (in shares)		(8)
Retirement of common stock for minimum tax withholdings		$ 0	(262)	0	0	(262)
Stock-based compensation expense		$ 0	5,386	0	0	5,386
Repurchase of common stock (in shares)		(139)
Repurchase of common stock		$ (1)	1	0	0	0
Net income (loss)		0	0	(23,982)	0	(23,982)
Other comprehensive income (loss)		$ 0	0	0	1,356	1,356
Vesting of restricted stock units (in shares)		54
Forfeiture of restricted stock awards (in shares)		(9)
Balance (in shares) at Dec. 31, 2020		14,329
Balance at Dec. 31, 2020		$ 143	$ 55,355	$ 221,444	$ (4,542)	$ 272,400

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ (23,982)	$ 27,193	$ 18,722
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	13,464	5,991	5,910
Interest expense	(25)	0	0
Non-cash operating lease cost	1,531	1,179	0
Goodwill impairment charge	42,520	0	0
Change in fair value of contingent consideration	(28,666)	0	0
Loss on disposal of fixed assets	265	927	152
Loss on impairment of intangible asset	2,439	389	0
Stock-based compensation expense	5,386	6,087	11,046
Deferred income taxes	(3,543)	794	(1,817)
Provision (recovery) for doubtful accounts	549	(499)	57
Provision for inventory	5,490	1,612	4,419
Amortization of acquisition related inventory step-up	11,082	0	0
Amortization of premium and accretion of discount on investments and cash equivalents	13	(25)	(371)
Changes in operating assets and liabilities:
Accounts receivable	5,855	(1,839)	2,914
Inventories	(14,177)	(5,585)	(7,577)
Prepaid expenses, other current and long-term assets	(1,783)	(1,641)	899
Accounts payable	822	767	(1,671)
Operating lease liabilities	(1,439)	(1,065)	0
Accrued expenses, other current and long-term liabilities	(142)	3,805	1,313
Income taxes	(2,072)	(1,085)	922
Contingent consideration	(522)	0	0
Net cash provided by operating activities	13,065	37,005	34,918
Cash flows from investing activities:
Acquisition of Parcus Medical and Arthrosurface, net of cash acquired	(94,601)	0	0
Proceeds from maturities of investments	45,000	146,366	46,000
Purchases of investments	(20,035)	(103,848)	(91,601)
Purchases of property and equipment	(1,628)	(2,827)	(4,656)
Net cash provided by (used in) investing activities	(71,264)	39,691	(50,257)
Cash flows from financing activities:
Payments made on finance leases	(208)	0	0
Proceeds from long term debt	50,000	0	0
Repayments of long term debt	(50,350)	0	0
Repurchases of common stock	0	(30,000)	(30,000)
Cash paid for tax withheld on vested restricted stock awards	(262)	(293)	(1,790)
Proceeds from exercises of equity awards	1,524	22,151	2,886
Contingent consideration paid	(4,478)	0	0
Net cash provided by (used in) provided by financing activities	(3,774)	(8,142)	(28,904)
Exchange rate impact on cash	327	(133)	29
Increase (decrease) in cash and cash equivalents	(61,646)	68,421	(44,214)
Cash and cash equivalents at beginning of period	157,463	89,042	133,256
Cash and cash equivalents at end of period	95,817	157,463	89,042
Supplemental disclosure of cash flow information:
Cash paid for income taxes	993	9,257	5,560
Right-of-use assets obtained in exchange for operating lease liabilities as of January 1, 2019	2,340	1,980
Non-cash investing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	17	137	351
Consideration for acquisitions included in accounts payable and accrued expenses	476	0	0
Contingent consideration fair value on acquisition date	69,076	0	0
Accounting Standards Update 2016-02 [Member]
Supplemental disclosure of cash flow information:
Right-of-use assets obtained in exchange for operating lease liabilities as of January 1, 2019	$ 0	$ 24,110	$ 0

Note 1 - Nature of Business

Note 1 - Nature of Business	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Nature of Operations [Text Block]	1. Anika Therapeutics, Inc. (“the Company”) is a global joint preservation company that creates and delivers meaningful advancements in early intervention orthopedic care, including in the areas of osteoarthritis (“OA”) pain management, regenerative solutions, soft tissue repair and bone preserving joint technologies. In early 2020, 30 There continue to be uncertainties regarding the pandemic of the novel coronavirus (“COVID- 19” 19 19 may may 19. The Company is also subject to risks common to companies in the biotechnology and medical device industries including, but not

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Principles of Consolidation The accompanying consolidated financial statements include the accounts of Anika Therapeutics, Inc. and its wholly owned subsidiaries, Anika Securities, Inc., Anika Therapeutics S.r.l. (“Anika S.r.l.”), Anika Therapeutics Limited, Parcus Medical and Arthrosurface. All intercompany balances and transactions have been eliminated in consolidation. Foreign Currency Translation The functional currency of Anika S.r.l. is the Euro, and the functional currency of Anika Therapeutics Limited is the British Pound Sterling. Assets and liabilities of the foreign subsidiaries are translated using the exchange rate existing on each respective balance sheet date. Revenues and expenses are translated using the average exchange rates for the period. The translation adjustments resulting from this process are included in stockholders’ equity as a component of accumulated other comprehensive income (loss) which resulted in a gain (loss) from foreign currency translation of $1.3 million, ($0.4) million, and ($0.7) million for the years ended December 31, 2020, 2019, 2018, Gains and losses resulting from foreign currency transactions are recognized in the consolidated statements of operations. Recorded balances that are denominated in a currency other than the functional currency are remeasured to the functional currency using the exchange rate at the balance sheet date and gains or losses are recorded in the statements of operations. The Company recognized a gain (loss) from foreign currency transactions of $0.3 million, ($0.3) million, and ($0.4) million during the years ended December 31, 2020, 2019, 2018, Allowance for Doubtful Accounts The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments, which is included in selling, general and administrative expenses in the accompanying consolidated statements of operations. In determining the adequacy of the allowance for doubtful accounts, management specifically analyzes individual accounts receivable, historical bad debts, customer concentrations, customer credit-worthiness, current and reasonable and supportable forecasts of future economic conditions, accounts receivable aging trends, and changes in the Company’s customer payment terms. A summary of activity in the allowance for doubtful accounts is as follows: December 31, 20 20 201 9 201 8 Balance, beginning of the year $ 962 $ 1,525 $ 1,914 Amounts provided 635 6 57 Amounts recovered (86 ) (505 ) (360 ) Amounts written off (78 ) (33 ) – Translation adjustments 90 (31 ) (86 ) Balance, end of the year $ 1,523 $ 962 $ 1,525 Revenue Recognition Pursuant to ASC 606, five Product Revenue The Company generate sales principally through three For commercial partnership sales, the Company sells its products directly to these partners, who perform the vast majority of the downstream sales and marketing activities to customers and end-users. These arrangements may December 31, 2020 2019 2016 no may not not For sales to hospitals and surgery centers, which generally pairs an in-house team of regional sales directors with local or regional distributors, the inventory is generally consigned to sales agents so that products are available when needed for surgical procedures. No For distributor sales, the Company sells its products principally to a number of distributors, generally outside the United States, who subsequently resell the products to sub-distributors and health care providers, among others. The Company recognizes revenue from product sales when the distributor obtains control of the Company’s product, which typically occurs upon shipment to the distributor, in return for agreed-upon, fixed-price consideration. Performance obligations are generally settled quickly after purchase order acceptance; therefore, the value of unsatisfied performance obligations at the end of any reporting period is generally insignificant. The Company sells to a diversified base of distributors and, therefore, believes there is no The Company’s payment terms are consistent with prevailing practice in the respective markets in which the Company does business. Most of the Company’s customers make payments based on contract terms, which are not one not not Some of the Company’s distributor agreements have volume-based discounts with tiered pricing which are generally prospective in nature. These prospective discounts together with any free-of-charge sample units offered are evaluated as potential material rights. If the prospective discounts or free-of-charge sample units are considered material rights, these would be separate performance obligations and a portion of the sales transaction price is allocated to the material right. Revenue allocated to the material right is recognized when the additional goods are transferred to the customer or when the option expires. During 2020, not The Company receives payments from its customers based on billing schedules established in each contract. Up-front payments and fees are recorded as deferred revenue upon receipt or when due, and may December 31, 2020 2019, Generally, customer contracts contain Free on Board (FOB) or Ex-Works (EXW) shipping point terms where the customer pays the shipping company directly for all shipping and handling costs. In those contracts in which the Company pays for the shipping and handling, the associated costs are generally recorded along with the product sale at the time of shipment in cost of revenue when control over the products has transferred to the customer. Value-add and other taxes collected by the Company concurrently with revenue-producing activities are excluded from revenue. The Company’s general product warranty does not not one 340 40 25 4. Licensing, Milestone and Contract Revenue The agreements with Mitek include variable consideration such as contingent development and regulatory milestones. Since 2016, no not Cash and Cash Equivalents The Company considers only those investments which are highly liquid, readily convertible to cash, and that mature within 90 Investments All of the Company’s investments are classified as available-for-sale which consist of U.S. treasury bills and are carried at fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income (loss), net of related income taxes. For securities sold prior to maturity, the cost of securities sold is based on the specific identification method. Realized gains and losses on the sale of investments are recorded in interest and other income, net. Interest is recorded when earned. Investments with original maturities greater than approximately three one one December 31, 2020 2019. All of the Company’s investments are subject to a periodic impairment review. For available-for-sale debt securities in an unrealized loss position we first not not During the years ended December 31, 2020, 2019 2018, not not not Concentration of Credit Risk and Significant Customers The Company has no two The Company, by policy, routinely assesses the financial strength of its customers. As a result, the Company believes that its accounts receivable credit risk exposure is limited. Mitek represented 49% and 71% of total revenues for the years-ended December 31, 2020 2019 December 31, 2020 2019, no 10% Inventories Inventories are primarily stated at the lower of standard cost and net realizable value, with approximate cost determined using the first first not The Company’s policy is to write-down inventory when conditions exist that suggest inventory may not When recorded, inventory write-downs are intended to reduce the carrying value of inventory to its net realizable value. If actual demand for the Company’s products deteriorates, or if market conditions are less favorable than those projected, additional inventory write-downs may one Leases The Company adopted Leases 842 January 1, 2019 not not 842 3” 12 no not 842. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the circumstances present and evaluates whether the lease is an operating lease or a finance lease at the commencement date. Operating and finance leases with a term greater than one not not not not may Property and Equipment Property and equipment are recorded at cost and depreciated using the straight-line method over their estimated useful lives, which are typically: Asset Estimated useful life Computer equipment and software 3 - 10 Furniture and fixtures 5 - 7 Equipment 5 - 20 Leasehold improvements Shorter of useful life or term of lease Maintenance and repairs are charged to expense when incurred; additions and improvements are capitalized. Fully depreciated assets are retained in the accounts until they are no no Construction-in-process is stated at cost, which includes the cost of construction and other direct costs attributable to the construction. Construction-in-process is not Goodwill and IPR&D Assets Goodwill is the amount by which the purchase price of acquired net assets in a business combination exceeded the fair values of net identifiable assets on the date of acquisition. Acquired In-Process Research and Development (“IPR&D”) represents the fair value assigned to research and development assets that the Company acquires that have not Goodwill and IPR&D are not one 2020 Under the US GAAP, the Company has the option to perform a qualitative assessment to determine if it is necessary to perform the impairment test. If the Company concludes, based on a qualitative assessment, it is not not not To conduct quantitative impairment tests of goodwill, the fair value of the reporting unit is compared to its carrying value. If the reporting unit’s carrying value exceeds its fair value, the Company records an impairment loss to the extent that the carrying value of goodwill exceeds its implied fair value, not November 30, 2020 December 31, 2020. 8 Goodwill not December 31, 2019. Long-Lived Assets Long-lived assets primarily include property and equipment and intangible assets with finite lives. The Company’s intangible assets are comprised of purchased developed technologies, patents, trade names, customer relationships and distributor relationships. These intangible assets are carried at cost, net of accumulated amortization. Amortization is recorded on a straight-line basis over the intangible assets' useful lives, which range from approximately five sixteen may not no In determining the useful lives of intangible assets, we consider the expected use of the assets and the effects of obsolescence, demand, competition, anticipated technological advances, changes in surgical techniques, market influences and other economic factors. For technology-based intangible assets, we consider the expected life cycles of products, absent unforeseen technological advances, which incorporate the corresponding technology. Fair Value Measurements Fair value is defined as the price that would be received from selling an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of non-performance. The accounting standard establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs that may • Level 1 1 • Level 2 not • Level 3 not The Company’s financial assets have been classified as Level 1. third 3. 4 Fair Value Measurement s third Research and Development Research and development costs consist primarily of clinical trials, salaries and related expenses for personnel, and fees paid to outside consultants and outside service providers. Research and development costs are expensed as incurred. Stock-Based Compensation The Company has stock-based compensation plans under which it grants various types of equity-based awards, the cost of which is based on the grant-date fair value of the underlying award and recognized over the period during which an employee is required to provide service in exchange for the award, which is generally the vesting period. For performance-equity awards with market-based conditions, compensation cost is measured at the date of the award and is recorded over the vesting period, regardless of the likelihood of achievement of the market-based performance criteria. For performance-based equity awards with financial and business milestone achievement targets, compensation cost is based on the probable outcome of the performance conditions. Changes to the probability assessment and the estimated shares expected to vest will result in adjustments to the related stock-based compensation expense that will be recorded in the period of the change. If the performance targets are not no See Note 13 Equity Incentive Plan Income Taxes The Company’s income tax expense includes U.S. and international income taxes. Certain items of income and expense are not not not Comprehensive Income (Loss) Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss), which includes foreign currency translation adjustments. For the purposes of comprehensive income (loss) disclosures, the Company does not Segment Information Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is its President and Chief Executive Officer. Based on the criteria established by ASC 280, Segment Reportin Contingencies In the normal course of business, the Company is involved from time-to-time in various legal proceedings and other matters such as contractual disputes, which are complex in nature and have outcomes that are difficult to predict. The Company records accruals for loss contingencies to the extent that it concludes that it is probable that a liability has been incurred and the amount of the related loss can be reasonably estimated. The Company considers all relevant factors when making assessments regarding these contingencies. Although the outcomes of any potential legal proceedings are inherently difficult to predict, the Company does not Recent Accounting Pronouncements In August 2018, No. 2018 15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350 40 No. 2015 05, Customers Accounting for Fees in a Cloud Computing Agreement 2018 15 350 40 2018 15 December 15, 2019. 2018 15 January 1, 2020. not In June 2016, No. 2016 13, Financial Instruments - Credit Losses 2016 13 December 15, 2019 2016 13 January 1, 2020. not not Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. Upon adopting ASU 2016 13, not January 1, 2020 In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 2 2017 04, not January 1, 2020. In August 2018, 2018 13, Fair Value Measurement (Topic 820 1 2 3 January 1, 2020, not 4 Fair Value Measurements In March 2020, 2020 04, Reference Rate Reform (Topic 848 March 12, 2020 December 31, 2022. not December 31, 2020,

Note 3 - Business Combinations

Note 3 - Business Combinations	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Business Combination Disclosure [Text Block]	3. Parcus Medical, LLC On January 24, 2020, January 4, 2020 ( The acquisition of Parcus Medical has been accounted for as a business combination under ASC 805. 805, January 24, 2020 Consideration Transferred Pursuant to the Parcus Medical Merger Agreement, the Company acquired all outstanding equity of Parcus Medical for estimated total purchase consideration of $75.1 million, as of January 24, 2020 Cash consideration $ 32,794 Deferred consideration 1,642 Estimated fair value of contingent consideration 40,700 Estimated total purchase consideration $ 75,136 Contingent consideration represents additional payments that the Company may 2020 2022. one December 31, 2020. 4, Fair Value Measurements December 31, 2020. Acquisition-related costs are not three March 31, 2020. March 31, 2020 Fair Value of Net Assets Acquired The estimate of fair value as of the acquisition date required the use of significant assumptions and estimates. Critical estimates included, but were not may The allocation of purchase price to the identifiable assets acquired and liabilities assumed was based on estimates of fair value as of January 24, 2020, Recognized identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ 196 Accounts receivable 2,029 Inventories 10,968 Prepaid expenses and other current assets 364 Property and equipment, net 1,099 Right-of-use assets 944 Intangible assets 44,000 Accounts payable, accrued expenses and other current liabilities (2,763 ) Other long-term liabilities (594 ) Lease liabilities (735 ) Net assets acquired 55,508 Goodwill 19,628 Estimated total purchase consideration $ 75,136 Subsequent to the acquisition date, during the three September 30, 2020, January 24, 2020 not The acquired intangible assets based on estimates of fair value as of January 24, 2020 Developed technology $ 41,100 Trade name 1,800 Customer relationships 1,100 Total acquired intangible assets $ 44,000 The fair value of the developed technology intangible assets has been estimated using the multi-period excess earnings method, which is based on the principle that the value of an intangible asset is equal to the present value of the incremental after-tax cash flow attributable to the asset, after charges for other assets employed by the business. The fair value of the customer relationships has been estimated using the avoided costs/lost profits method, which is based on the principle that the value of an intangible asset is based on consideration of the total costs that would be avoided by having this asset in place. The fair value of the trade name has been estimated using the relief from royalty method of the income approach, which is based on the principle that the value of an intangible asset is equal to the present value of the after-tax royalty savings attributable to owning the intangible asset. Key estimates and assumptions used in these models are projected revenues and expenses related to the asset, estimated contributory asset charges, estimated costs to recreate the asset, and a risk-adjusted discount rate used to calculate the present value of the future expected cash inflows or cash outflows avoided from the asset. The fair value of developed technology will be amortized over a useful life of 15 years, the fair value of customer relationships over 10 years, and the fair value of the trade name over 5 years. The excess of the purchase price over the fair value of the net assets acquired was recorded as goodwill and assigned to the newly established reporting unit for Parcus Medical and Arthrosurface. The goodwill is attributable to the workforce of the business and the value of future technologies expected to arise after the acquisition. Goodwill will not 8, Goodwill Revenue and Net Loss The Company recorded revenue from Parcus Medical of $11.6 million and a net loss of ($7.7) million in the period from January 24, 2020 December 31, 2020, Arthrosurface, Inc. On February 3, 2020, January 4, 2020 ( The acquisition of Arthrosurface has been accounted for as a business combination under ASC 805. 805, February 3, 2020 Consideration Transferred Pursuant to the Arthrosurface Merger Agreement, the Company acquired all outstanding equity of Arthrosurface for estimated total purchase consideration of $90.3 million, as of February 3, 2020 Cash consideration $ 61,909 Estimated fair value of contingent consideration 28,376 Estimated total purchase consideration $ 90,285 The Company may 2020 2021. 4, Fair Value Measurements December 31, 2020. Acquisition-related costs are not three March 31, 2020. March 31, 2020 Fair Value of Net Assets Acquired The estimate of fair value required the use of significant assumptions and estimates. Critical estimates included, but were not may The allocation of purchase price to the identifiable assets acquired and liabilities assumed was based on estimates of fair value as of February 3, 2020, Recognized identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ 1,072 Accounts receivable 5,368 Inventories 15,652 Prepaid expenses and other current assets 535 Property, plant and equipment 3,394 Other long-term assets 7,548 Intangible assets 48,900 Accounts payable, accrued expenses and other liabilities (3,929 ) Deferred tax liabilities (11,147 ) Net assets acquired 67,393 Goodwill 22,892 Estimated total purchase consideration $ 90,285 Intangible assets acquired consist of: Developed technology $ 37,000 Trade name 3,400 Customer relationships 7,900 IPR&D 600 Total acquired intangible assets $ 48,900 The fair value of the developed technology intangible assets has been estimated using the multi-period excess earnings method, which is based on the principle that the value of an intangible asset is equal to the present value of the incremental after-tax cash flow attributable to the asset, after charges for other assets employed by the business. The fair value of the customer relationships has been estimated using the avoided costs/lost profits method, which is based on the principle that the value of an intangible asset is based on consideration of the total costs that would be avoided by having this asset in place. The fair value of the trade name has been estimated using the relief from royalty method of the income approach, which is based on the principle that the value of an intangible asset is equal to the present value of the after-tax royalty savings attributable to owning the intangible asset. Key estimates and assumptions used in these models are projected revenues and expenses related to the asset, estimated contributory asset charges, estimated costs to recreate the asset, and a risk-adjusted discount rate used to calculate the present value of the future expected cash inflows or cash outflows avoided from the asset. The fair value of developed technology that will be amortized over an estimated useful life of 15 years, the fair value of customer relationships over 10 years, and the fair value of trade names over 5 years. A total of $0.6 million represents the fair value of IPR&D with an indefinite useful life that will be evaluated for impairment annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The excess of the purchase price over the fair value of the net assets acquired was recorded as goodwill and assigned to the newly established reporting unit for Parcus Medical and Arthrosurface. The goodwill is attributable to the workforce of the business and the value of future technologies expected to arise after the acquisition. Goodwill will not not 8, Goodwill Revenue and Net Loss The Company recorded revenue from Arthrosurface of $23.9 million and a net loss of ($10.7) million in the period from February 3, 2020 December 31, 2020, Pro forma Information The Parcus Medical and Arthrosurface acquisitions were both completed in the first 2020. The unaudited pro forma information for the year ended December 31, 2020 2019 January 1, 2019 These pro forma adjustments include: (i) a net increase in amortization expense to record amortization expense for the aforementioned acquired identifiable intangible assets, (ii) an adjustment to cost of revenue based on the preliminary inventory step-up and the anticipated inventory turnover, (iii) a net decrease in interest expense as a result of eliminating interest expense and interest income related to borrowings that were settled in accordance with the respective Parcus Medical Merger Agreement and Arthrosurface Merger Agreement, (iv) an adjustment to record the acquisition-related transaction costs in the period required, and (v) the tax effect of the pro forma adjustments using the anticipated effective tax rate. The effective tax rate of the combined company could be materially different from the rate presented in this unaudited pro forma combined financial information. As a result of the transaction, the combined company may not The following table presents unaudited supplemental pro forma information: For the Years Ended December 31, 2020 2019 Total revenue $ 134,410 $ 157,728 Net income (loss) $ (22,984 ) $ 7,144

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. The Company held U.S. treasury bills of $2.5 million and $27.5 million at December 31, 2020 December 31, 2019, December 31, 2020 December 31, 2019, The Company’s investments are all classified within Levels 1 not 3 The classification of the Company’s cash equivalents and investments within the fair value hierarchy is as follows: Active Markets Significant Other Significant for Identical Assets Observable Inputs Unobservable Inputs December 31, 2020 (Level 1) (Level 2) (Level 3) Amortized Cost Cash equivalents: Money Market Funds $ 74,522 $ 74,522 $ - $ - $ 74,522 Investments: U.S. Treasury Bills $ 2,501 $ 2,501 $ - $ - $ 2,524 Other current and long-term liabilities: Contingent Consideration - Short Term $ 13,090 $ - $ - $ 13,090 $ - Contingent Consideration - Long Term 22,320 - - 22,320 - Total other current and long-term liabilities $ 35,410 $ - $ - $ 35,410 $ - Active Markets Significant Other Significant for Identical Assets Observable Inputs Unobservable Inputs December 31, 2019 (Level 1) (Level 2) (Level 3) Amortized Cost Cash equivalents: Money Market Funds $ 48,971 $ 48,971 $ - $ - $ 48,971 Investments: U.S. Treasury Bills $ 27,480 $ 27,480 $ - $ - $ 27,479 There were no 2020 2019. Contingent Consideration The following table provides a rollforward of the contingent consideration related to business acquisitions discussed in Note 3, Business Combinations . Year Ended December 31, 2020 Balance, beginning January 1, 2020 $ - Additions 69,076 Payments (5,000 ) Change in fair value (28,666 ) Balance, ending December 31, 2020 $ 35,410 Under the Parcus Medical Merger Agreement and Arthrosurface Merger Agreement, there are earn-out milestones totaling $100 million payable from 2020 2022. 2020 2022, 2020 2021. December 31, 2020, December 31, 2020, December 31, 2020. In October 2020, December 31, 2020 19

Note 5 - Inventories

Note 5 - Inventories	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	5. Inventories consist of the following: December 31, 20 20 201 9 Raw materials $ 14,852 $ 12,058 Work-in-process 12,811 8,330 Finished goods 33,347 8,777 Total $ 61,010 $ 29,165 Inventories $ 46,209 $ 21,995 Other long-term assets 14,801 7,170 Inventory is stated net of inventory reserves of approximately $6.9 million and $3.0 million, as of December 31, 2020 2019, The increase in inventories for the year ended December 31, 2020 January February 2020, 3 Business Combinations The Company recorded an inventory reserve of $2.8 million in 2020 not not

Note 6 - Property and Equipment

Note 6 - Property and Equipment	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	6 . Property and Equipment Property and equipment is stated at cost and consists of the following: December 31, 20 20 201 9 Equipment and software $ 48,316 $ 42,733 Furniture and fixtures 2,496 2,204 Leasehold improvements 34,056 33,797 Construction in progress 432 559 Subtotal 85,300 79,293 Less accumulated depreciation (34,687 ) (28,510 ) Total $ 50,613 $ 50,783 Depreciation expense was $6.1 million, $5.0 million, and $4.9 million for the years ended December 31, 2020, 2019, 2018,

Note 7 - Acquired Intangible As

Note 7 - Acquired Intangible Assets, Net	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	7 . Acquired Intangible Assets, Net Intangible assets consist of the following: Year Ended December 31, 2020 Gross Value Less: Accumulated Currency Translation Adjustment Less: Current Period Impairment Charge Less: Accumulated Amortization Net Book Value Weighted Average Useful Life Developed technology $ 93,953 $ (2,648 ) $ (1,025 ) $ (14,381 ) $ 75,899 15 IPR&D 5,006 (1,005 ) (1,414 ) - 2,587 Indefinite Customer relationships 9,000 - - (827 ) 8,173 10 Distributor relationships 4,700 (415 ) - (4,285 ) - 5 Patents 1,000 (159 ) - (582 ) 259 16 Tradenames 5,200 - - (961 ) 4,239 5 Total $ 118,859 $ (4,227 ) $ (2,439 ) $ (21,036 ) $ 91,157 13 Year Ended December 31, 2019 Gross Value Less: Accumulated Currency Translation Adjustment Less: Current Period Impairment Charge Less: Accumulated Amortization Net Book Value Weighted Average Useful Life Developed technology $ 17,100 $ (2,934 ) $ (389 ) $ (9,657 ) $ 4,120 15 IPR&D 4,406 (1,234 ) - - 3,172 Indefinite Distributor relationships 4,700 (415 ) - (4,285 ) - 5 Patents 1,000 (176 ) - (531 ) 293 16 Tradename 1,000 - - (1,000 ) - 9 Total $ 28,206 $ (4,759 ) $ (389 ) $ (15,473 ) $ 7,585 11 The increase of $90.6 million of gross value in acquired intangible assets is primarily due to the acquisition of Parcus Medical and Arthrosurface in the first 2020, 3 Business Combinations Total amortization expense with respect to the definite-lived acquired intangible assets was $7.4 million, $1.0 million and $1.0 million for the years ended December 31, 2020, 2019, 2018. During the fourth 2020, not no The Company performed its annual assessment of the remaining IPR&D intangible assets as of November 30, 2020. November 30, 2020. During 2020, not 2020. 2019, not not 2020 2019

Note 8 - Goodwill

Note 8 - Goodwill	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Goodwill Disclosure [Text Block]	8 . Goodwill The following table provides a rollforward of goodwill for the years ended December 31, 2020 2019: Year Ended December 31, 2020 Year Ended December 31, 2019 Balance, beginning $ 7,694 $ 7,851 Effect of foreign currency adjustments 719 (157 ) Acquisitions 42,520 - Impairment (42,520 ) - Balance, ending $ 8,413 $ 7,694 In January February 2020, 3, Busine s s Combinations one U.S. and international government policy responses to the COVID- 19 first 2020, fourth 2020. The Company estimated the fair value of the reporting units using a discounted cash flow method, which is based on the present value of projected cash flows and a terminal value, which represents the expected normalized cash flows of the reporting units beyond the cash flows from the discrete projection period. The Company determined that a discounted cash flow model provided the best approximation of fair value of the reporting units for the purpose of performing the impairment test. This approach incorporates significant estimates and assumptions related to the forecasted results including revenues, expenses, the achievement of certain cost synergies, terminal growth rates and discount rates to estimate future cash flows. While assumptions utilized are subject to a high degree of judgment and complexity, the Company made its best estimate of future cash flows under a high degree of economic uncertainty that existed as of November 30, 2020. For the legacy Anika reporting unit, the Company performed a qualitative assessment including consideration of (i) general macroeconomic factors, (ii) industry and market conditions, and (iii) the extent of the excess of the fair value over the carrying value indicated in prior impairment testing. The Company determined it was not not not March 31, 2020. November 30, 2020, not December 31, 2020. For its newly created reporting unit, which includes Parcus Medical and Arthrosurface, the Company also performed an interim quantitative assessment of goodwill impairment as of March 31, 2020. first 2020. November 30, 2020. 19 fourth 2020. December 31, 2020.

Note 9 - Leases

Note 9 - Leases	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Lessee, Operating Leases and Finance Leases [Text Block]	9. The Company leases its buildings and manufacturing facilities under operating leases. As of December 31, 2020, 2022 2038, 2032, 2026 As a result of the acquisition of Parcus Medical and Arthrosurface, the Company acquired operating and finance leases for corporate offices, manufacturing and warehouse facilities and machineries. The operating leases consist of two 2021, 2024 may The significant assumptions in recognizing the right-of-use asset and lease liability are as follows: Incremental borrowing rate not not December 31, 2020 Lease term. not The components of lease expense and other information are as follows: For the Years Ended December 31 2020 2019 Finance lease amortization of right-of-use assets $ 185 $ - Interest on finance lease liabilities 25 - Finance lease expense 210 - Operating lease expense 2,383 2,087 Short-term lease expense - 6 Variable lease expense 264 216 Total lease expense $ 2,857 $ 2,309 For the Years Ended December 31 2020 2019 Weighted Average Remaining Lease Term (in years) Operating leases 15.6 16.8 Financing leases 3.2 - Weighted Average Discount Rate Operating leases 4.1 % 4.1 % Financing leases 5.0 % - Other information Operating cash flows from operating leases $ 2,340 $ 1,980 Operating cash flows from financing leases $ 162 $ - Future commitments due under these lease agreements as of December 31, 2020 Years ended December 31, Operating Leases Financing Leases Total 2021 $ 2,304 $ 166 $ 2,470 2022 2,240 166 2,406 2023 2,123 160 2,283 2024 2,059 44 2,103 2025 1,924 - 1,924 Thereafter 19,450 - 19,450 Present value adjustment (7,784 ) (32 ) (7,816 ) Present value of lease payments 22,316 504 22,820 Less current portion included in accrued expenses and other current liabilities (1,437 ) (148 ) (1,585 ) Total lease liabilities $ 20,879 $ 356 $ 21,235

Note 10 - Accrued Expenses

Note 10 - Accrued Expenses	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	10. Accrued expenses consist of the following: December 31, December 31, Compensation and related expenses $ 7,345 $ 5,830 Professional fees 3,438 3,850 Operating lease liability - current 1,437 1,141 Clinical trial costs 1,429 788 Finance lease liability - current 148 - Other 996 836 Total $ 14,793 $ 12,445

Note 11 - Revolving Credit Agre

Note 11 - Revolving Credit Agreement	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	1 1 . Revolving Credit Agreement On April 8, 2020, December 31, 2020 three September 30, 2020, three December 31, 2020, The existing credit facility was entered into on October 24, 2017. five may one five December 31, 2020 2019, The Credit Agreement contains customary representations, warranties, affirmative and negative covenants, including financial covenants, events of default, and indemnification provisions in favor of the Lenders. These include restrictive covenants that require the Company not first

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 2 . Commitments and Contingencies Warranty and Guarantor Arrangements In certain of its contracts, the Company warrants to its customers that the products it manufactures conform to the product specifications as in effect at the time of delivery of the specific product. The Company may not third December 31, 2020 2019, no Legal Proceedings The Company is also involved from time-to-time in various legal proceedings arising in the normal course of business. Although the outcomes of potential legal proceedings are inherently difficult to predict, the Company does not

Note 13 - Revenue by Product Gr

Note 13 - Revenue by Product Group, by Significant Customer and by Geographic Location; Geographic Information	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	1 3 . Revenue by Product Group, by Significant Customer and by Geographic Location; Geographic Information The Company categorizes its product portfolio into three January 24, 2020 February 3, 2020 Product revenue by product group is as follows: Years Ended December 31, 20 20 201 9 201 8 Revenue Percentage of Revenue Percentage of Revenue Percentage of Joint Pain Management $ 83,029 64 % $ 103,466 90 % $ 96,719 92 % Joint Preservation and Restoration 39,368 30 % 2,070 2 % 1,127 1 % Other 8,060 6 % 8,976 8 % 7,685 7 % $ 130,457 100 % $ 114,512 100 % $ 105,531 100 % Product revenue from the Company’s sole significant customer, Mitek, as a percentage of the Company’s total product revenue was 49%, 71%, and 73% for the years ended December 31, 2020, 2019, 2018, Total revenue by geographic location based on the location of the customer in total and as a percentage of total revenue are as follows: Years Ended December 31, 20 20 201 9 201 8 Total Percentage of Total Percentage of Total Percentage of Revenue Revenue Revenue Revenue Revenue Revenue Geographic Location: United States $ 103,182 79 % $ 90,302 79 % $ 85,351 81 % Europe 14,179 11 % 14,744 13 % 11,730 11 % Other 13,096 10 % 9,564 8 % 8,474 8 % Total $ 130,457 100 % $ 114,610 100 % $ 105,555 100 % On May 2, 2018, not no 2018, December 31, 2020 2019. Net long-lived assets, consisting of net property and equipment, are subject to geographic risks because they are generally difficult to move and to effectively utilize in another geographic area in a reasonable time period and because they are relatively illiquid. Net tangible long-lived assets by principal geographic areas are as follows: Years Ended December 31, 20 20 201 9 United States $ 48,611 $ 48,635 Italy 2,002 2,148 Total $ 50,613 $ 50,783

Note 14 - Equity Incentive Plan

Note 14 - Equity Incentive Plan	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	1 4 . Equity Incentive Plan Equity Incentive Plan The Anika Therapeutics, Inc. 2017 “2017 June 13, 2017 may 2017 no may 2017 June 18, 2019, 2017 2017 1.2 No 2017 June 16, 2020, 2017 2017 No 2017 December 31, 2020. The Company may one four ten The following table sets forth share information for stock-based compensation awards granted and exercised during the periods ended December 31, 2020 2019: December 31, 20 20 201 9 Grants: Stock options 546,496 254,517 RSUs 218,804 189,507 PSUs 162,297 123,500 Exercises: Stock options 123,063 518,991 SARs - 35,250 Stock Options The combined stock options activity for the year ended December 31, 2020 Weighted Average Exercise Number of Price Per Shares Share Options outstanding at beginning of year 690,968 $ 41.65 Granted 546,496 $ 37.78 Cancelled (112,660 ) $ 50.15 Expired (104,922 ) $ 46.33 Exercised (123,063 ) $ 12.43 Options outstanding at end of year 896,819 $ 41.50 During the second 2020, may December 31, 2020. All stock options outstanding at December 31, 2020 December 31, 2020. As of December 31, 2020, The options exercisable at December 31, 2020 Number Weighted Avg Weighted Average Incentive stock options 109,581 $ 45.43 6.5 Non-qualified stock options 341,927 $ 41.63 4.5 Performance awards 11,210 $ 53.87 2.9 The total intrinsic value of stock options and SARs exercised was $2.8 million, $8.5 million and $8.5 million for the years ended December 31, 2020, 2019 2018, 2019 December 31, 2019. The total grant-date fair value of stock options and SARs vested during the years ended December 31, 2020, 2019 2018 Restricted Stock The RSA, RSU and PSU activity for the year ended December 31, 2020 Weighted Average Number of Grant Date Shares Fair Value Unvested at beginning of year 289,098 $ 34.53 Granted 381,101 $ 37.66 Cancelled (200,418 ) $ 35.38 Vested/Released (58,245 ) $ 35.91 Unvested at end of year 411,536 $ 36.82 The total fair value of restricted stock-based awards (including RSAs, RSUs, and PSUs) vested during the years ended December 31, 2020, 2019 2018 December 31, 2020, 2019 2018 As of December 31, 2020, Stock Compensation Expense The Company estimates the fair value of stock options and SARs using the Black-Scholes valuation model. The Company estimates the fair value of TSRs using Monte-Carlo simulation model. Fair value of restricted stock is measured by the grant-date price of the Company’s shares. The PSUs granted to employees in 2019 2019 2021 2020 not 2020 2021 2022 The Company recorded $0.1 million, $1.2 million, and $0.7 million related to performance-based units and options in the years ending 2020, 2019, 2018, Key input assumptions used to estimate the fair value of stock options and SARs include the exercise price of the award, the expected award term, the expected volatility of the Company’s stock over the option’s expected term, the risk-free interest rate over the award’s expected term, and the Company’s expected annual dividend yield. The expected volatility assumption is evaluated against the historical volatility of the Company’s common stock over a 4-year average, except for TSRs which is evaluated over 6.3 years, and it is adjusted if there are material changes in historical volatility. The risk free interest rate assumption is based on U.S. Treasury interest rates at the time of grant. The weighted-average grant-date fair value per share of stock options granted in 2020, 2019 2018 2020, 2019, 2018 20 20 201 9 201 8 Risk free interest rate 0.21% - 1.59% 1.41% - 2.54% 2.15% - 2.82% Expected volatility 46.48% - 54.06% 44.27% - 48.52% 37.12% - 45.61% Expected term (years) 4.0 3.5 4.0 - 4.5 Expected dividend yield 0.00% 0.00% 0.00% The Company presents the expenses related to stock-based compensation awards in the same expense line items as cash compensation paid to each of its employees as follows: 20 20 201 9 201 8 Cost of revenue $ 719 $ 412 $ (160 ) Research and development 713 424 851 Selling, general and administrative 3,954 5,251 10,355 Total stock-based compensation expense $ 5,386 $ 6,087 $ 11,046 For the years ended December 31, 2020, 2019 2018, The Company’s former President and Chief Executive Officer, Joseph Darling, passed away unexpectedly in January 2020. 2017 one three March 31, 2020 The decrease in stock-based compensation expense within the cost of revenue line item for the year ended December 31, 2019 March 9, 2018, one three March 31, 2018.

Note 15 - Employee Benefit Plan

Note 15 - Employee Benefit Plan	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	1 5 . Employee Benefit Plan The Company’s U.S. employees are eligible to participate in the Company’s 401 may may December 31, 2020, 2019, 2018,

Note 16 - Accelerated Share Rep

Note 16 - Accelerated Share Repurchases	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Accelerated Share Repurchases Disclosure [Text Block]	1 6 . Accelerated Share Repurchases On May 2, 2019, December 31, 2019, May 7, 2019, May 8, 2019 On January 14, 2020, January 14, 2020. January 17, 2020. not On May 24, 2018, May 24, 2018 On July 16, 2018, July 16, 2018. July 19, 2018. not

Note 17 - Income Taxes

Note 17 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	1 7 . Income Taxes Income Tax Expense The components of the Company’s income (loss) before income taxes and its provision for (benefit from) income taxes consist of the following: Years ended December 31, 2020 2019 2018 Income (loss) before income taxes Domestic $ (25,722 ) $ 38,299 $ 26,227 Foreign (2,902 ) (2,178 ) (3,020 ) $ (28,624 ) $ 36,121 $ 23,207 Years ended December 31, 2020 2019 2018 Provision for (benefit from) income taxes: Current: Federal $ 357 $ 6,245 $ 4,783 State (1,970 ) 1,884 1,644 Foreign 49 202 405 Total current (1,564 ) 8,331 6,832 Deferred: Federal (1,980 ) 1,086 (992 ) State (1,070 ) 324 (152 ) Foreign (28 ) (813 ) (1,203 ) Total deferred (3,078 ) 597 (2,347 ) Total provision $ (4,642 ) $ 8,928 $ 4,485 Deferred Tax Assets and Liabilities Significant components of the Company’s deferred tax assets and liabilities consist of the following: December 31, 2020 2019 Deferred tax assets: Lease liability $ 5,147 $ 5,206 Inventory reserve 2,004 1,187 Net operating loss carry forwards 4,775 1,812 Stock-based compensation expense 1,742 1,901 Tax credits 2,485 - Foreign currency exchange 229 346 Accrued expenses and other 156 1,076 Gross deferred tax assets 16,538 11,528 Less: valuation allowance (857 ) - Deferred tax assets $ 15,681 $ 11,528 December 31, 2020 2019 Deferred tax liabilities: Acquisition-related intangibles $ (13,972 ) $ (2,023 ) Depreciation (8,493 ) (8,665 ) Right of use asset (5,111 ) (5,171 ) Deferred tax liabilities $ (27,576 ) $ (15,859 ) Net deferred tax liabilities $ (11,895 ) $ (4,331 ) The Company recognized a total net deferred tax liability of $11.9 million, of which $11.2 million is due to the intangible assets and inventory step up offset by net operating loss (“NOL”) carryforwards and research and development tax credits associated with the Arthrosurface acquisition discussed in Note 3. As of December 31, 2020, 2025 2028 2040 2017 not 80% not December 31, 2020, 2023. The Company evaluated the likelihood that it would realize the deferred income taxes to offset future taxable income and concluded that it is more likely than not December 31, 2020, Tax Rate The reconciliation between the U.S. federal statutory rate and the Company’s effective rate is summarized as follows: Years ended December 31, 2020 2019 2018 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State tax expense, net of federal benefit 1.5 % 5.5 % 5.5 % Stock compensation and Section 162(m) limitation (2.2 %) 0.9 % (0.5 %) Goodwill impairment (16.8 %) 0.0 % 0.0 % Change in fair value of contingent consideration 6.7 % 0.0 % 0.0 % Change in state apportionment 4.9 % 0.0 % 0.0 % Federal, state and foreign tax credits 2.2 % (1.5 %) (3.6 %) Valuation allowance (3.0 %) 0.0 % 0.0 % Other permanent items 1.9 % (1.2 %) (3.1 %) Effective income tax rate 16.2 % 24.7 % 19.3 % Accounting for Uncertainty in Income Taxes The Company had no unrecognized tax benefits for the years ended December 31, 2020 2019, not twelve December 31, 2020. In the normal course of business, Anika and its subsidiaries may no 2017. Upon the settlement of certain stock-based awards (i.e., exercise, vesting, forfeiture, or cancellation), the actual tax deduction is compared with cumulative financial reporting compensation cost, and any excess tax deduction related to these awards is considered a windfall tax benefit. With the adoption of ASU 2016 09 2017, 2020 2019 2018.

Note 18 - Earnings Per Share ("

Note 18 - Earnings Per Share ("EPS")	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	1 8 . Earnings per Share (“EPS”) Basic EPS is calculated by dividing net income (loss) by the weighted average number of shares outstanding during the period. Unvested RSAs, although legally issued and outstanding, are not The following table provides share information used in the calculation of the Company's basic and diluted earnings per share: Years Ended December 31, 20 20 201 9 201 8 Shares used in the calculation of basic earnings per share 14,222,163 14,120,584 14,441,536 Effect of dilutive securities: Stock options, SARs, RSAs and RSUs - 253,199 247,505 Diluted shares used in the calculation of earnings per share 14,222,163 14,373,783 14,689,041 In 2020, December 31, 2019 2018, 2019 2018 At December 31, 2020 December 31, 2019, 2018

Note 19 - Quarterly Financial D

Note 19 - Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Quarterly Financial Information [Text Block]	1 9 . Quarterly Financial Data (Unaudited) (U.S. Dollars, in thousands, except per share data) Quarter ended Year 2020 December 31 (4) September 30 (3) June 30 (2) March 31 (1) Total revenue $ 32,688 $ 31,694 $ 30,678 $ 35,397 Gross profit 16,745 17,343 13,742 21,196 Net income (loss) $ (15,657 ) $ (6,411 ) $ (7,708 ) $ 5,794 Basic net income (loss) per share $ (1.10 ) $ (0.45 ) $ (0.54 ) $ 0.41 Diluted net income (loss) per share $ (1.10 ) $ (0.45 ) $ (0.54 ) $ 0.40 Basic common shares outstanding 14,275 14,205 14,199 14,202 Diluted common shares outstanding 14,275 14,205 14,199 14,353 ( 1 March 31, 2020, 2 June 30, 2020, 3 September 30, 2020, 4 December 31, 2020, (U.S. Dollars, in thousands, except per share data) Quarter ended Year 20 19 December 31 September 30 June 30 March 31 Total revenue $ 29,772 $ 29,697 $ 30,418 $ 24,723 Gross profit 21,123 23,746 23,582 17,412 Net income $ 4,051 $ 9,200 $ 9,435 $ 4,507 Basic net income per share $ 0.28 $ 0.65 $ 0.68 $ 0.32 Diluted net income per share $ 0.28 $ 0.66 $ 0.67 $ 0.31 Basic common shares outstanding 14,280 14,070 13,916 14,185 Diluted common shares outstanding 14,621 14,387 14,088 14,314

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The accompanying consolidated financial statements include the accounts of Anika Therapeutics, Inc. and its wholly owned subsidiaries, Anika Securities, Inc., Anika Therapeutics S.r.l. (“Anika S.r.l.”), Anika Therapeutics Limited, Parcus Medical and Arthrosurface. All intercompany balances and transactions have been eliminated in consolidation.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation The functional currency of Anika S.r.l. is the Euro, and the functional currency of Anika Therapeutics Limited is the British Pound Sterling. Assets and liabilities of the foreign subsidiaries are translated using the exchange rate existing on each respective balance sheet date. Revenues and expenses are translated using the average exchange rates for the period. The translation adjustments resulting from this process are included in stockholders’ equity as a component of accumulated other comprehensive income (loss) which resulted in a gain (loss) from foreign currency translation of $1.3 million, ($0.4) million, and ($0.7) million for the years ended December 31, 2020, 2019, 2018, Gains and losses resulting from foreign currency transactions are recognized in the consolidated statements of operations. Recorded balances that are denominated in a currency other than the functional currency are remeasured to the functional currency using the exchange rate at the balance sheet date and gains or losses are recorded in the statements of operations. The Company recognized a gain (loss) from foreign currency transactions of $0.3 million, ($0.3) million, and ($0.4) million during the years ended December 31, 2020, 2019, 2018,
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	Allowance for Doubtful Accounts The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments, which is included in selling, general and administrative expenses in the accompanying consolidated statements of operations. In determining the adequacy of the allowance for doubtful accounts, management specifically analyzes individual accounts receivable, historical bad debts, customer concentrations, customer credit-worthiness, current and reasonable and supportable forecasts of future economic conditions, accounts receivable aging trends, and changes in the Company’s customer payment terms. A summary of activity in the allowance for doubtful accounts is as follows: December 31, 20 20 201 9 201 8 Balance, beginning of the year $ 962 $ 1,525 $ 1,914 Amounts provided 635 6 57 Amounts recovered (86 ) (505 ) (360 ) Amounts written off (78 ) (33 ) – Translation adjustments 90 (31 ) (86 ) Balance, end of the year $ 1,523 $ 962 $ 1,525
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition Pursuant to ASC 606, five Product Revenue The Company generate sales principally through three For commercial partnership sales, the Company sells its products directly to these partners, who perform the vast majority of the downstream sales and marketing activities to customers and end-users. These arrangements may December 31, 2020 2019 2016 no may not not For sales to hospitals and surgery centers, which generally pairs an in-house team of regional sales directors with local or regional distributors, the inventory is generally consigned to sales agents so that products are available when needed for surgical procedures. No For distributor sales, the Company sells its products principally to a number of distributors, generally outside the United States, who subsequently resell the products to sub-distributors and health care providers, among others. The Company recognizes revenue from product sales when the distributor obtains control of the Company’s product, which typically occurs upon shipment to the distributor, in return for agreed-upon, fixed-price consideration. Performance obligations are generally settled quickly after purchase order acceptance; therefore, the value of unsatisfied performance obligations at the end of any reporting period is generally insignificant. The Company sells to a diversified base of distributors and, therefore, believes there is no The Company’s payment terms are consistent with prevailing practice in the respective markets in which the Company does business. Most of the Company’s customers make payments based on contract terms, which are not one not not Some of the Company’s distributor agreements have volume-based discounts with tiered pricing which are generally prospective in nature. These prospective discounts together with any free-of-charge sample units offered are evaluated as potential material rights. If the prospective discounts or free-of-charge sample units are considered material rights, these would be separate performance obligations and a portion of the sales transaction price is allocated to the material right. Revenue allocated to the material right is recognized when the additional goods are transferred to the customer or when the option expires. During 2020, not The Company receives payments from its customers based on billing schedules established in each contract. Up-front payments and fees are recorded as deferred revenue upon receipt or when due, and may December 31, 2020 2019, Generally, customer contracts contain Free on Board (FOB) or Ex-Works (EXW) shipping point terms where the customer pays the shipping company directly for all shipping and handling costs. In those contracts in which the Company pays for the shipping and handling, the associated costs are generally recorded along with the product sale at the time of shipment in cost of revenue when control over the products has transferred to the customer. Value-add and other taxes collected by the Company concurrently with revenue-producing activities are excluded from revenue. The Company’s general product warranty does not not one 340 40 25 4. Licensing, Milestone and Contract Revenue The agreements with Mitek include variable consideration such as contingent development and regulatory milestones. Since 2016, no not
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers only those investments which are highly liquid, readily convertible to cash, and that mature within 90
Investment, Policy [Policy Text Block]	Investments All of the Company’s investments are classified as available-for-sale which consist of U.S. treasury bills and are carried at fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income (loss), net of related income taxes. For securities sold prior to maturity, the cost of securities sold is based on the specific identification method. Realized gains and losses on the sale of investments are recorded in interest and other income, net. Interest is recorded when earned. Investments with original maturities greater than approximately three one one December 31, 2020 2019. All of the Company’s investments are subject to a periodic impairment review. For available-for-sale debt securities in an unrealized loss position we first not not During the years ended December 31, 2020, 2019 2018, not not not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk and Significant Customers The Company has no two The Company, by policy, routinely assesses the financial strength of its customers. As a result, the Company believes that its accounts receivable credit risk exposure is limited. Mitek represented 49% and 71% of total revenues for the years-ended December 31, 2020 2019 December 31, 2020 2019, no 10%
Inventory, Policy [Policy Text Block]	Inventories Inventories are primarily stated at the lower of standard cost and net realizable value, with approximate cost determined using the first first not The Company’s policy is to write-down inventory when conditions exist that suggest inventory may not When recorded, inventory write-downs are intended to reduce the carrying value of inventory to its net realizable value. If actual demand for the Company’s products deteriorates, or if market conditions are less favorable than those projected, additional inventory write-downs may one
Lessee, Leases [Policy Text Block]	Leases The Company adopted Leases 842 January 1, 2019 not not 842 3” 12 no not 842. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the circumstances present and evaluates whether the lease is an operating lease or a finance lease at the commencement date. Operating and finance leases with a term greater than one not not not not may
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are recorded at cost and depreciated using the straight-line method over their estimated useful lives, which are typically: Asset Estimated useful life Computer equipment and software 3 - 10 Furniture and fixtures 5 - 7 Equipment 5 - 20 Leasehold improvements Shorter of useful life or term of lease Maintenance and repairs are charged to expense when incurred; additions and improvements are capitalized. Fully depreciated assets are retained in the accounts until they are no no Construction-in-process is stated at cost, which includes the cost of construction and other direct costs attributable to the construction. Construction-in-process is not
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Goodwill and IPR&D Assets Goodwill is the amount by which the purchase price of acquired net assets in a business combination exceeded the fair values of net identifiable assets on the date of acquisition. Acquired In-Process Research and Development (“IPR&D”) represents the fair value assigned to research and development assets that the Company acquires that have not Goodwill and IPR&D are not one 2020 Under the US GAAP, the Company has the option to perform a qualitative assessment to determine if it is necessary to perform the impairment test. If the Company concludes, based on a qualitative assessment, it is not not not To conduct quantitative impairment tests of goodwill, the fair value of the reporting unit is compared to its carrying value. If the reporting unit’s carrying value exceeds its fair value, the Company records an impairment loss to the extent that the carrying value of goodwill exceeds its implied fair value, not November 30, 2020 December 31, 2020. 8 Goodwill not December 31, 2019.
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	Long-Lived Assets Long-lived assets primarily include property and equipment and intangible assets with finite lives. The Company’s intangible assets are comprised of purchased developed technologies, patents, trade names, customer relationships and distributor relationships. These intangible assets are carried at cost, net of accumulated amortization. Amortization is recorded on a straight-line basis over the intangible assets' useful lives, which range from approximately five sixteen may not no In determining the useful lives of intangible assets, we consider the expected use of the assets and the effects of obsolescence, demand, competition, anticipated technological advances, changes in surgical techniques, market influences and other economic factors. For technology-based intangible assets, we consider the expected life cycles of products, absent unforeseen technological advances, which incorporate the corresponding technology.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements Fair value is defined as the price that would be received from selling an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of non-performance. The accounting standard establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs that may • Level 1 1 • Level 2 not • Level 3 not The Company’s financial assets have been classified as Level 1. third 3. 4 Fair Value Measurement s third
Research and Development Expense, Policy [Policy Text Block]	Research and Development Research and development costs consist primarily of clinical trials, salaries and related expenses for personnel, and fees paid to outside consultants and outside service providers. Research and development costs are expensed as incurred.
Share-based Payment Arrangement [Policy Text Block]	Stock-Based Compensation The Company has stock-based compensation plans under which it grants various types of equity-based awards, the cost of which is based on the grant-date fair value of the underlying award and recognized over the period during which an employee is required to provide service in exchange for the award, which is generally the vesting period. For performance-equity awards with market-based conditions, compensation cost is measured at the date of the award and is recorded over the vesting period, regardless of the likelihood of achievement of the market-based performance criteria. For performance-based equity awards with financial and business milestone achievement targets, compensation cost is based on the probable outcome of the performance conditions. Changes to the probability assessment and the estimated shares expected to vest will result in adjustments to the related stock-based compensation expense that will be recorded in the period of the change. If the performance targets are not no See Note 13 Equity Incentive Plan
Income Tax, Policy [Policy Text Block]	Income Taxes The Company’s income tax expense includes U.S. and international income taxes. Certain items of income and expense are not not not
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income (Loss) Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss), which includes foreign currency translation adjustments. For the purposes of comprehensive income (loss) disclosures, the Company does not
Segment Reporting, Policy [Policy Text Block]	Segment Information Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is its President and Chief Executive Officer. Based on the criteria established by ASC 280, Segment Reportin
Commitments and Contingencies, Policy [Policy Text Block]	Contingencies In the normal course of business, the Company is involved from time-to-time in various legal proceedings and other matters such as contractual disputes, which are complex in nature and have outcomes that are difficult to predict. The Company records accruals for loss contingencies to the extent that it concludes that it is probable that a liability has been incurred and the amount of the related loss can be reasonably estimated. The Company considers all relevant factors when making assessments regarding these contingencies. Although the outcomes of any potential legal proceedings are inherently difficult to predict, the Company does not
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In August 2018, No. 2018 15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350 40 No. 2015 05, Customers Accounting for Fees in a Cloud Computing Agreement 2018 15 350 40 2018 15 December 15, 2019. 2018 15 January 1, 2020. not In June 2016, No. 2016 13, Financial Instruments - Credit Losses 2016 13 December 15, 2019 2016 13 January 1, 2020. not not Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. Upon adopting ASU 2016 13, not January 1, 2020 In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 2 2017 04, not January 1, 2020. In August 2018, 2018 13, Fair Value Measurement (Topic 820 1 2 3 January 1, 2020, not 4 Fair Value Measurements In March 2020, 2020 04, Reference Rate Reform (Topic 848 March 12, 2020 December 31, 2022. not December 31, 2020,

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	December 31, 20 20 201 9 201 8 Balance, beginning of the year $ 962 $ 1,525 $ 1,914 Amounts provided 635 6 57 Amounts recovered (86 ) (505 ) (360 ) Amounts written off (78 ) (33 ) – Translation adjustments 90 (31 ) (86 ) Balance, end of the year $ 1,523 $ 962 $ 1,525
Property, Plant and Equipment Estimated Useful Lives [Table Text Block]	Asset Estimated useful life Computer equipment and software 3 - 10 Furniture and fixtures 5 - 7 Equipment 5 - 20 Leasehold improvements Shorter of useful life or term of lease

Note 3 - Business Combinations

Note 3 - Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Cash consideration $ 32,794 Deferred consideration 1,642 Estimated fair value of contingent consideration 40,700 Estimated total purchase consideration $ 75,136 Cash consideration $ 61,909 Estimated fair value of contingent consideration 28,376 Estimated total purchase consideration $ 90,285
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Recognized identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ 196 Accounts receivable 2,029 Inventories 10,968 Prepaid expenses and other current assets 364 Property and equipment, net 1,099 Right-of-use assets 944 Intangible assets 44,000 Accounts payable, accrued expenses and other current liabilities (2,763 ) Other long-term liabilities (594 ) Lease liabilities (735 ) Net assets acquired 55,508 Goodwill 19,628 Estimated total purchase consideration $ 75,136 Recognized identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ 1,072 Accounts receivable 5,368 Inventories 15,652 Prepaid expenses and other current assets 535 Property, plant and equipment 3,394 Other long-term assets 7,548 Intangible assets 48,900 Accounts payable, accrued expenses and other liabilities (3,929 ) Deferred tax liabilities (11,147 ) Net assets acquired 67,393 Goodwill 22,892 Estimated total purchase consideration $ 90,285
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Developed technology $ 41,100 Trade name 1,800 Customer relationships 1,100 Total acquired intangible assets $ 44,000 Intangible assets acquired consist of: Developed technology $ 37,000 Trade name 3,400 Customer relationships 7,900 IPR&D 600 Total acquired intangible assets $ 48,900
Business Acquisition, Pro Forma Information [Table Text Block]	For the Years Ended December 31, 2020 2019 Total revenue $ 134,410 $ 157,728 Net income (loss) $ (22,984 ) $ 7,144

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Active Markets Significant Other Significant for Identical Assets Observable Inputs Unobservable Inputs December 31, 2020 (Level 1) (Level 2) (Level 3) Amortized Cost Cash equivalents: Money Market Funds $ 74,522 $ 74,522 $ - $ - $ 74,522 Investments: U.S. Treasury Bills $ 2,501 $ 2,501 $ - $ - $ 2,524 Other current and long-term liabilities: Contingent Consideration - Short Term $ 13,090 $ - $ - $ 13,090 $ - Contingent Consideration - Long Term 22,320 - - 22,320 - Total other current and long-term liabilities $ 35,410 $ - $ - $ 35,410 $ - Active Markets Significant Other Significant for Identical Assets Observable Inputs Unobservable Inputs December 31, 2019 (Level 1) (Level 2) (Level 3) Amortized Cost Cash equivalents: Money Market Funds $ 48,971 $ 48,971 $ - $ - $ 48,971 Investments: U.S. Treasury Bills $ 27,480 $ 27,480 $ - $ - $ 27,479
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Year Ended December 31, 2020 Balance, beginning January 1, 2020 $ - Additions 69,076 Payments (5,000 ) Change in fair value (28,666 ) Balance, ending December 31, 2020 $ 35,410

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, 20 20 201 9 Raw materials $ 14,852 $ 12,058 Work-in-process 12,811 8,330 Finished goods 33,347 8,777 Total $ 61,010 $ 29,165 Inventories $ 46,209 $ 21,995 Other long-term assets 14,801 7,170

Note 6 - Property and Equipme_2

Note 6 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 20 20 201 9 Equipment and software $ 48,316 $ 42,733 Furniture and fixtures 2,496 2,204 Leasehold improvements 34,056 33,797 Construction in progress 432 559 Subtotal 85,300 79,293 Less accumulated depreciation (34,687 ) (28,510 ) Total $ 50,613 $ 50,783

Note 7 - Acquired Intangible _2

Note 7 - Acquired Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block]	Year Ended December 31, 2020 Gross Value Less: Accumulated Currency Translation Adjustment Less: Current Period Impairment Charge Less: Accumulated Amortization Net Book Value Weighted Average Useful Life Developed technology $ 93,953 $ (2,648 ) $ (1,025 ) $ (14,381 ) $ 75,899 15 IPR&D 5,006 (1,005 ) (1,414 ) - 2,587 Indefinite Customer relationships 9,000 - - (827 ) 8,173 10 Distributor relationships 4,700 (415 ) - (4,285 ) - 5 Patents 1,000 (159 ) - (582 ) 259 16 Tradenames 5,200 - - (961 ) 4,239 5 Total $ 118,859 $ (4,227 ) $ (2,439 ) $ (21,036 ) $ 91,157 13 Year Ended December 31, 2019 Gross Value Less: Accumulated Currency Translation Adjustment Less: Current Period Impairment Charge Less: Accumulated Amortization Net Book Value Weighted Average Useful Life Developed technology $ 17,100 $ (2,934 ) $ (389 ) $ (9,657 ) $ 4,120 15 IPR&D 4,406 (1,234 ) - - 3,172 Indefinite Distributor relationships 4,700 (415 ) - (4,285 ) - 5 Patents 1,000 (176 ) - (531 ) 293 16 Tradename 1,000 - - (1,000 ) - 9 Total $ 28,206 $ (4,759 ) $ (389 ) $ (15,473 ) $ 7,585 11

Note 8 - Goodwill (Tables)

Note 8 - Goodwill (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Goodwill [Table Text Block]	Year Ended December 31, 2020 Year Ended December 31, 2019 Balance, beginning $ 7,694 $ 7,851 Effect of foreign currency adjustments 719 (157 ) Acquisitions 42,520 - Impairment (42,520 ) - Balance, ending $ 8,413 $ 7,694

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Lease, Cost [Table Text Block]	For the Years Ended December 31 2020 2019 Finance lease amortization of right-of-use assets $ 185 $ - Interest on finance lease liabilities 25 - Finance lease expense 210 - Operating lease expense 2,383 2,087 Short-term lease expense - 6 Variable lease expense 264 216 Total lease expense $ 2,857 $ 2,309 For the Years Ended December 31 2020 2019 Weighted Average Remaining Lease Term (in years) Operating leases 15.6 16.8 Financing leases 3.2 - Weighted Average Discount Rate Operating leases 4.1 % 4.1 % Financing leases 5.0 % - Other information Operating cash flows from operating leases $ 2,340 $ 1,980 Operating cash flows from financing leases $ 162 $ -
Lessee, Operating Lease and Finance Lease, Liability, Maturity [Table Text Block]	Years ended December 31, Operating Leases Financing Leases Total 2021 $ 2,304 $ 166 $ 2,470 2022 2,240 166 2,406 2023 2,123 160 2,283 2024 2,059 44 2,103 2025 1,924 - 1,924 Thereafter 19,450 - 19,450 Present value adjustment (7,784 ) (32 ) (7,816 ) Present value of lease payments 22,316 504 22,820 Less current portion included in accrued expenses and other current liabilities (1,437 ) (148 ) (1,585 ) Total lease liabilities $ 20,879 $ 356 $ 21,235

Note 10 - Accrued Expenses (Tab

Note 10 - Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, December 31, Compensation and related expenses $ 7,345 $ 5,830 Professional fees 3,438 3,850 Operating lease liability - current 1,437 1,141 Clinical trial costs 1,429 788 Finance lease liability - current 148 - Other 996 836 Total $ 14,793 $ 12,445

Note 13 - Revenue by Product _2

Note 13 - Revenue by Product Group, by Significant Customer and by Geographic Location; Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Years Ended December 31, 20 20 201 9 201 8 Revenue Percentage of Revenue Percentage of Revenue Percentage of Joint Pain Management $ 83,029 64 % $ 103,466 90 % $ 96,719 92 % Joint Preservation and Restoration 39,368 30 % 2,070 2 % 1,127 1 % Other 8,060 6 % 8,976 8 % 7,685 7 % $ 130,457 100 % $ 114,512 100 % $ 105,531 100 %
Schedule of Revenue and Operating Income by Geographical Areas [Table Text Block]	Years Ended December 31, 20 20 201 9 201 8 Total Percentage of Total Percentage of Total Percentage of Revenue Revenue Revenue Revenue Revenue Revenue Geographic Location: United States $ 103,182 79 % $ 90,302 79 % $ 85,351 81 % Europe 14,179 11 % 14,744 13 % 11,730 11 % Other 13,096 10 % 9,564 8 % 8,474 8 % Total $ 130,457 100 % $ 114,610 100 % $ 105,555 100 %
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	Years Ended December 31, 20 20 201 9 United States $ 48,611 $ 48,635 Italy 2,002 2,148 Total $ 50,613 $ 50,783

Note 14 - Equity Incentive Pl_2

Note 14 - Equity Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	December 31, 20 20 201 9 Grants: Stock options 546,496 254,517 RSUs 218,804 189,507 PSUs 162,297 123,500 Exercises: Stock options 123,063 518,991 SARs - 35,250
Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity [Table Text Block]	Weighted Average Exercise Number of Price Per Shares Share Options outstanding at beginning of year 690,968 $ 41.65 Granted 546,496 $ 37.78 Cancelled (112,660 ) $ 50.15 Expired (104,922 ) $ 46.33 Exercised (123,063 ) $ 12.43 Options outstanding at end of year 896,819 $ 41.50
Schedule of Share-based Compensation, Exercisable Stock Options and Stock Appreciation Rights Award Activity [Table Text Block]	Number Weighted Avg Weighted Average Incentive stock options 109,581 $ 45.43 6.5 Non-qualified stock options 341,927 $ 41.63 4.5 Performance awards 11,210 $ 53.87 2.9
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Weighted Average Number of Grant Date Shares Fair Value Unvested at beginning of year 289,098 $ 34.53 Granted 381,101 $ 37.66 Cancelled (200,418 ) $ 35.38 Vested/Released (58,245 ) $ 35.91 Unvested at end of year 411,536 $ 36.82
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	20 20 201 9 201 8 Risk free interest rate 0.21% - 1.59% 1.41% - 2.54% 2.15% - 2.82% Expected volatility 46.48% - 54.06% 44.27% - 48.52% 37.12% - 45.61% Expected term (years) 4.0 3.5 4.0 - 4.5 Expected dividend yield 0.00% 0.00% 0.00%
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	20 20 201 9 201 8 Cost of revenue $ 719 $ 412 $ (160 ) Research and development 713 424 851 Selling, general and administrative 3,954 5,251 10,355 Total stock-based compensation expense $ 5,386 $ 6,087 $ 11,046

Note 17 - Income Taxes (Tables)

Note 17 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Years ended December 31, 2020 2019 2018 Income (loss) before income taxes Domestic $ (25,722 ) $ 38,299 $ 26,227 Foreign (2,902 ) (2,178 ) (3,020 ) $ (28,624 ) $ 36,121 $ 23,207 Years ended December 31, 2020 2019 2018 Provision for (benefit from) income taxes: Current: Federal $ 357 $ 6,245 $ 4,783 State (1,970 ) 1,884 1,644 Foreign 49 202 405 Total current (1,564 ) 8,331 6,832 Deferred: Federal (1,980 ) 1,086 (992 ) State (1,070 ) 324 (152 ) Foreign (28 ) (813 ) (1,203 ) Total deferred (3,078 ) 597 (2,347 ) Total provision $ (4,642 ) $ 8,928 $ 4,485
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2020 2019 Deferred tax assets: Lease liability $ 5,147 $ 5,206 Inventory reserve 2,004 1,187 Net operating loss carry forwards 4,775 1,812 Stock-based compensation expense 1,742 1,901 Tax credits 2,485 - Foreign currency exchange 229 346 Accrued expenses and other 156 1,076 Gross deferred tax assets 16,538 11,528 Less: valuation allowance (857 ) - Deferred tax assets $ 15,681 $ 11,528 December 31, 2020 2019 Deferred tax liabilities: Acquisition-related intangibles $ (13,972 ) $ (2,023 ) Depreciation (8,493 ) (8,665 ) Right of use asset (5,111 ) (5,171 ) Deferred tax liabilities $ (27,576 ) $ (15,859 ) Net deferred tax liabilities $ (11,895 ) $ (4,331 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years ended December 31, 2020 2019 2018 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State tax expense, net of federal benefit 1.5 % 5.5 % 5.5 % Stock compensation and Section 162(m) limitation (2.2 %) 0.9 % (0.5 %) Goodwill impairment (16.8 %) 0.0 % 0.0 % Change in fair value of contingent consideration 6.7 % 0.0 % 0.0 % Change in state apportionment 4.9 % 0.0 % 0.0 % Federal, state and foreign tax credits 2.2 % (1.5 %) (3.6 %) Valuation allowance (3.0 %) 0.0 % 0.0 % Other permanent items 1.9 % (1.2 %) (3.1 %) Effective income tax rate 16.2 % 24.7 % 19.3 %

Note 18 - Earnings Per Share _2

Note 18 - Earnings Per Share ("EPS") (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Years Ended December 31, 20 20 201 9 201 8 Shares used in the calculation of basic earnings per share 14,222,163 14,120,584 14,441,536 Effect of dilutive securities: Stock options, SARs, RSAs and RSUs - 253,199 247,505 Diluted shares used in the calculation of earnings per share 14,222,163 14,373,783 14,689,041

Note 19 - Quarterly Financial_2

Note 19 - Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Quarterly Financial Information [Table Text Block]	(U.S. Dollars, in thousands, except per share data) Quarter ended Year 2020 December 31 (4) September 30 (3) June 30 (2) March 31 (1) Total revenue $ 32,688 $ 31,694 $ 30,678 $ 35,397 Gross profit 16,745 17,343 13,742 21,196 Net income (loss) $ (15,657 ) $ (6,411 ) $ (7,708 ) $ 5,794 Basic net income (loss) per share $ (1.10 ) $ (0.45 ) $ (0.54 ) $ 0.41 Diluted net income (loss) per share $ (1.10 ) $ (0.45 ) $ (0.54 ) $ 0.40 Basic common shares outstanding 14,275 14,205 14,199 14,202 Diluted common shares outstanding 14,275 14,205 14,199 14,353 (U.S. Dollars, in thousands, except per share data) Quarter ended Year 20 19 December 31 September 30 June 30 March 31 Total revenue $ 29,772 $ 29,697 $ 30,418 $ 24,723 Gross profit 21,123 23,746 23,582 17,412 Net income $ 4,051 $ 9,200 $ 9,435 $ 4,507 Basic net income per share $ 0.28 $ 0.65 $ 0.68 $ 0.32 Diluted net income per share $ 0.28 $ 0.66 $ 0.67 $ 0.31 Basic common shares outstanding 14,280 14,070 13,916 14,185 Diluted common shares outstanding 14,621 14,387 14,088 14,314

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jan. 01, 2020USD ($)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Total			$ 1,300	$ (400)	$ (700)
Foreign Currency Transaction Gain (Loss), before Tax, Total			300	(300)	(400)
Contract with Customer, Liability, Total	$ 200		200	0
Debt Securities, Available-for-sale, Noncurrent	0		$ 0	0
Number of Reporting Units			2
Goodwill, Impairment Loss	$ 24,400	$ 18,100	$ 42,520	$ 0	$ 0
Number of Operating Segments			1
Number of Reportable Segments			1
Accounting Standards Update 2016-13 [Member]
Debt Securities, Available-for-sale, Allowance for Credit Loss, Ending Balance						$ 0
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)			5 years
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)			16 years
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | DePuy Mitek Inc [Member]
Concentration Risk, Percentage			49.00%	71.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | DePuy Mitek Inc [Member]
Concentration Risk, Percentage			44.00%	70.00%
DePuy Mitek Inc [Member]
Revenues From Agreements as Percent of Total Revenue			49.00%	71.00%

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Balance, beginning of the year	$ 962	$ 1,525	$ 1,914
Amounts provided	635	6	57
Amounts recovered	(86)	(505)	(360)
Amounts written off	(78)	(33)	0
Translation adjustments	90	(31)	(86)
Balance, end of the year	$ 1,523	$ 962	$ 1,525

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Minimum [Member]
Estimated useful life (Year)	5 years
Maximum [Member]
Estimated useful life (Year)	16 years
Computer Equipment and Software [Member] | Minimum [Member]
Estimated useful life (Year)	3 years
Computer Equipment and Software [Member] | Maximum [Member]
Estimated useful life (Year)	10 years
Furniture and Fixtures [Member] | Minimum [Member]
Estimated useful life (Year)	5 years
Furniture and Fixtures [Member] | Maximum [Member]
Estimated useful life (Year)	7 years
Equipment [Member] | Minimum [Member]
Estimated useful life (Year)	5 years
Equipment [Member] | Maximum [Member]
Estimated useful life (Year)	20 years

Note 3 - Business Combination_2

Note 3 - Business Combinations (Details Textual) - USD ($) $ in Thousands	Feb. 03, 2020	Jan. 24, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Asset, Useful Life (Year)						13 years	11 years
Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)						15 years	15 years
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)						10 years
Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life (Year)						5 years	9 years
Parcus Medical [Member]
Business Combination, Consideration Transferred, Total		$ 75,136
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High		60,000
Business Combination, Acquisition Related Costs			$ 1,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		10,968
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual					$ 11,600
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual					$ (7,700)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 44,000
Parcus Medical [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		15 years
Parcus Medical [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		10 years
Parcus Medical [Member] | Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		5 years
Parcus Medical [Member] | Trunk Stock [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		$ 1,900
Arthrosurface [Member]
Business Combination, Consideration Transferred, Total	$ 90,285
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High	40,000
Business Combination, Acquisition Related Costs			$ 2,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	15,652
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				$ 23,900
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual				$ (10,700)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 48,900
Arthrosurface [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	15 years
Arthrosurface [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Arthrosurface [Member] | Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	5 years
Arthrosurface [Member] | In Process Research and Development [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 600

Note 3 - Business Combination_3

Note 3 - Business Combinations - Consideration Transferred (Details) - USD ($) $ in Thousands	Feb. 03, 2020	Jan. 24, 2020
Parcus Medical [Member]
Cash consideration		$ 32,794
Deferred consideration		1,642
Estimated fair value of contingent consideration		40,700
Estimated total purchase consideration		$ 75,136
Arthrosurface [Member]
Cash consideration	$ 61,909
Estimated fair value of contingent consideration	28,376
Estimated total purchase consideration	$ 90,285

Note 3 - Business Combination_4

Note 3 - Business Combinations - Fair Value of Net Assets Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Feb. 03, 2020	Jan. 24, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill	$ 8,413			$ 7,694	$ 7,851
Arthrosurface [Member]
Cash and cash equivalents		$ 1,072
Accounts receivable		5,368
Inventories		15,652
Prepaid expenses and other current assets		535
Property and equipment, net		3,394
Intangible assets		48,900
Accounts payable, accrued expenses and other current liabilities		(3,929)
Net assets acquired		67,393
Goodwill		22,892
Estimated total purchase consideration		90,285
Other long-term assets		7,548
Deferred tax liabilities	$ (11,200)	$ (11,147)
Parcus Medical [Member]
Cash and cash equivalents			$ 196
Accounts receivable			2,029
Inventories			10,968
Prepaid expenses and other current assets			364
Property and equipment, net			1,099
Right-of-use assets			944
Intangible assets			44,000
Accounts payable, accrued expenses and other current liabilities			(2,763)
Other long-term liabilities			(594)
Lease liabilities			(735)
Net assets acquired			55,508
Goodwill			19,628
Estimated total purchase consideration			$ 75,136

Note 3 - Business Combination_5

Note 3 - Business Combinations - Intangible Assets Acquired (Details) - USD ($) $ in Millions	Feb. 03, 2020	Jan. 24, 2020
Parcus Medical [Member]
Intangible assets		$ 44
Arthrosurface [Member]
Intangible assets	$ 48.9
Developed Technology Rights [Member] | Parcus Medical [Member]
Intangible assets		41.1
Developed Technology Rights [Member] | Arthrosurface [Member]
Intangible assets	37
Trade Names [Member] | Parcus Medical [Member]
Intangible assets		1.8
Trade Names [Member] | Arthrosurface [Member]
Intangible assets	3.4
Customer Relationships [Member] | Parcus Medical [Member]
Intangible assets		$ 1.1
Customer Relationships [Member] | Arthrosurface [Member]
Intangible assets	7.9
In Process Research and Development [Member] | Arthrosurface [Member]
Intangible assets	$ 0.6

Note 3 - Business Combination_6

Note 3 - Business Combinations - Pro Forma Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total revenue	$ 134,410	$ 157,728
Net income (loss)	$ (22,984)	$ 7,144

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements (Details Textual) $ in Thousands	Oct. 15, 2020USD ($)	Feb. 03, 2020USD ($)	Jan. 24, 2020USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Payment for Contingent Consideration Liability, Financing Activities	$ 5,000							$ 4,478	$ 0	$ 0
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability				$ (12,500)	$ 4,100	$ 4,200	$ (24,500)	(28,666)	0	$ 0
COVID 19 [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability								(28,700)
Parcus Medical and Arthrosurface Acquisitions [Member]
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High								$ 100,000
Parcus Medical and Arthrosurface Acquisitions [Member] | Measurement Input, Discount Rate [Member] | Regulatory Earn Out Milestone [Member] | Minimum [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input				0.020				0.020
Parcus Medical and Arthrosurface Acquisitions [Member] | Measurement Input, Discount Rate [Member] | Regulatory Earn Out Milestone [Member] | Maximum [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input				0.025				0.025
Arthrosurface [Member]
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High		$ 40,000
Arthrosurface [Member] | Probability of Achievement [Member] | Regulatory Earn Out Milestone [Member] | Minimum [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input		0.60		0.60				0.60
Arthrosurface [Member] | Probability of Achievement [Member] | Regulatory Earn Out Milestone [Member] | Maximum [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input		0.90		0.75				0.75
Arthrosurface [Member] | Measurement Input, Weighted Average Cost of Capital [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input		0.115		0.114				0.114
Parcus Medical [Member]
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High			$ 60,000
Parcus Medical [Member] | Measurement Input, Weighted Average Cost of Capital [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input			0.145	0.114				0.114
US Treasury Bill Securities [Member]
Debt Securities, Available-for-sale, Total				$ 2,500				$ 2,500	$ 27,500

Note 4 - Fair Value Measureme_4

Note 4 - Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Contingent Consideration - Short Term	$ 13,090	$ 0
Contingent Consideration - Long Term	22,320	0
Estimate of Fair Value Measurement [Member]
Contingent Consideration - Short Term	13,090
Contingent Consideration - Long Term	22,320
Total other current and long-term liabilities	35,410
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash equivalents		48,971
Investments		27,480
Contingent Consideration - Short Term	0
Contingent Consideration - Long Term	0
Total other current and long-term liabilities	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Contingent Consideration - Short Term	0
Contingent Consideration - Long Term	0
Total other current and long-term liabilities	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Contingent Consideration - Short Term	13,090
Contingent Consideration - Long Term	22,320
Total other current and long-term liabilities	35,410
Reported Value Measurement [Member]
Contingent Consideration - Short Term	0
Contingent Consideration - Long Term	0
Total other current and long-term liabilities	0
Money Market Funds [Member] | Estimate of Fair Value Measurement [Member]
Cash equivalents	74,522	48,971
Money Market Funds [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash equivalents	74,522
Money Market Funds [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash equivalents	0	0
Money Market Funds [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Cash equivalents	0	0
Money Market Funds [Member] | Reported Value Measurement [Member]
Cash equivalents	74,522	48,971
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member]
Investments	2,501	27,480
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Investments	2,501
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Investments	0	0
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Investments	0	0
US Treasury Securities [Member] | Reported Value Measurement [Member]
Investments	$ 2,524	$ 27,479

Note 4 - Fair Value Measureme_5

Note 4 - Fair Value Measurements - Contingent Consideration (Details) - Contingent Consideration [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Balance, beginning January 1, 2020	$ 0
Additions	69,076
Payments	(5,000)
Change in fair value	(28,666)
Balance, ending December 31, 2020	$ 35,410

Note 5 - Inventories (Details T

Note 5 - Inventories (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventory Valuation Reserves, Ending Balance	$ 6,900	$ 3,000
Inventory Write-down	5,490	$ 1,612	$ 4,419
Nonsaleable Inventory [Member]
Inventory Write-down	$ 2,800

Note 5 - Inventories - Summary

Note 5 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Raw materials	$ 14,852	$ 12,058
Work-in-process	12,811	8,330
Finished goods	33,347	8,777
Total	61,010	29,165
Inventories	46,209	21,995
Other long-term assets	$ 14,801	$ 7,170

Note 6 - Property and Equipme_3

Note 6 - Property and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation, Total	$ 6.1	$ 5	$ 4.9

Note 6 - Property and Equipme_4

Note 6 - Property and Equipment - Property and Equipment at Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, plant and equipment, gross	$ 85,300	$ 79,293
Less accumulated depreciation	(34,687)	(28,510)
Total	50,613	50,783
Equipment and Software [Member]
Property, plant and equipment, gross	48,316	42,733
Furniture and Fixtures [Member]
Property, plant and equipment, gross	2,496	2,204
Leasehold Improvements [Member]
Property, plant and equipment, gross	34,056	33,797
Construction in Progress [Member]
Property, plant and equipment, gross	$ 432	$ 559

Note 7 - Acquired Intangible _3

Note 7 - Acquired Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		11 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Nov. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amortization of Intangible Assets, Total				$ 7,400	$ 1,000	$ 1,000
Impairment of Intangible Assets, Finite-lived				2,439	389	$ 0
In Process Research and Development [Member]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 0
Impairment of Intangible Assets, Finite-lived				1,414	0
Developed Technology Rights [Member]
Impairment of Intangible Assets, Finite-lived				1,025	389
Selling, General and Administrative Expenses [Member]
Impairment of Intangible Assets, Finite-lived					400
Selling, General and Administrative Expenses [Member] | Developed Technology Rights [Member]
Impairment of Intangible Assets, Finite-lived				$ 1,000	$ 300
Parcus Medical and Arthrosurface [Member]
Finite-lived Intangible Assets Acquired		$ 90,600
Parcus Medical and Arthrosurface [Member] | Research and Development Expense [Member]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	$ 1,400

Note 7 - Acquired Intangible _4

Note 7 - Acquired Intangible Assets, Net - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gross value	$ 118,859	$ 28,206
Accumulated Currency Translation Adjustment	(4,227)	(4,759)
Current period impairment charge	(2,439)	(389)	$ 0
Accumulated Amortization	(21,036)	(15,473)
Net book value	$ 91,157	$ 7,585
Useful life (Year)	13 years	11 years
Developed Technology Rights [Member]
Gross value	$ 93,953	$ 17,100
Accumulated Currency Translation Adjustment	(2,648)	(2,934)
Current period impairment charge	(1,025)	(389)
Accumulated Amortization	(14,381)	(9,657)
Net book value	$ 75,899	$ 4,120
Useful life (Year)	15 years	15 years
In Process Research and Development [Member]
Gross value	$ 5,006	$ 4,406
Accumulated Currency Translation Adjustment	(1,005)	(1,234)
Current period impairment charge	(1,414)	0
Accumulated Amortization	0	0
Net book value	2,587	3,172
Customer Relationships [Member]
Gross value	9,000
Accumulated Currency Translation Adjustment	0
Current period impairment charge	0
Accumulated Amortization	(827)
Net book value	$ 8,173
Useful life (Year)	10 years
Distribution Rights [Member]
Gross value	$ 4,700	4,700
Accumulated Currency Translation Adjustment	(415)	(415)
Current period impairment charge	0	0
Accumulated Amortization	(4,285)	(4,285)
Net book value	$ 0	$ 0
Useful life (Year)	5 years	5 years
Patents [Member]
Gross value	$ 1,000	$ 1,000
Accumulated Currency Translation Adjustment	(159)	(176)
Current period impairment charge	0	0
Accumulated Amortization	(582)	(531)
Net book value	$ 259	$ 293
Useful life (Year)	16 years	16 years
Trade Names [Member]
Gross value	$ 5,200	$ 1,000
Accumulated Currency Translation Adjustment	0	0
Current period impairment charge	0	0
Accumulated Amortization	(961)	(1,000)
Net book value	$ 4,239	$ 0
Useful life (Year)	5 years	9 years

Note 8 - Goodwill (Details Text

Note 8 - Goodwill (Details Textual) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Number of Reporting Units			2
Goodwill, Impairment Loss	$ 24,400	$ 18,100	$ 42,520	$ 0	$ 0

Note 8 - Goodwill - Changes in

Note 8 - Goodwill - Changes in the Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Balance		$ 7,694	$ 7,694	$ 7,851
Effect of foreign currency adjustments			719	(157)
Acquisitions			42,520	0
Impairment	$ (24,400)	$ (18,100)	(42,520)	0	$ 0
Balance	$ 8,413		$ 8,413	$ 7,694	$ 7,851

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual)	Dec. 31, 2020	Dec. 31, 2019
Operating Lease, Weighted Average Discount Rate, Percent	4.10%	4.10%
Finance Lease, Weighted Average Discount Rate, Percent	5.00%	0.00%

Note 9 - Leases - Lease Expense

Note 9 - Leases - Lease Expense and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finance lease amortization of right-of-use assets	$ 185	$ 0
Interest on finance lease liabilities	25	0
Finance lease expense	210	0
Operating lease expense	2,383	2,087
Short-term lease expense	0	6
Variable lease expense	264	216
Total lease expense	$ 2,857	$ 2,309
Operating leases (Year)	15 years 7 months 6 days	16 years 9 months 18 days
Financing leases (Year)	3 years 2 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	4.10%	4.10%
Finance Lease, Weighted Average Discount Rate, Percent	5.00%	0.00%
Right-of-use assets obtained in exchange for operating lease liabilities as of January 1, 2019	$ 2,340	$ 1,980
Operating cash flows from financing leases	$ 162	$ 0

Note 9 - Leases - Future Minimu

Note 9 - Leases - Future Minimum Rental Payments for Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
2021, operating leases	$ 2,304
2021, financing leases	166
2021	2,470
2022, operating leases	2,240
2022, financing leases	166
2022	2,406
2023, operating leases	2,123
2023, financing leases	160
2023	2,283
2024, operating leases	2,059
2024, financing leases	44
2024	2,103
2025, operating leases	1,924
2025, financing leases	0
2025	1,924
Thereafter, operating leases	19,450
Thereafter, financing leases	0
Thereafter	19,450
Present value adjustment, operating leases	(7,784)
Present value adjustment, financing leases	(32)
Present value adjustment	(7,816)
Less current portion included in Accrued expenses and other current liabilities, financing leases	(148)	$ 0
Total lease liabilities, operating leases	20,879	21,367
Total lease liabilities, financing leases	356
Total lease liabilities	21,235
Liabilities [Member]
Present value of lease payments, operating leases	22,316
Present value of lease payments, financing leases	504
Present value of lease payments	22,820
Accrued Expenses and Other Current Liabilities [Member]
Less current portion included in Accrued expenses and other current liabilities, operating leases	(1,437)	$ (1,141)
Less current portion included in Accrued expenses and other current liabilities, financing leases	(148)
Less current portion included in accrued expenses and other current liabilities	$ (1,585)

Note 10 - Accrued Expenses - Su

Note 10 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Compensation and related expenses	$ 7,345	$ 5,830
Professional fees	3,438	3,850
Clinical trial costs	1,429	788
Finance lease liability - current	148	0
Other	996	836
Total	14,793	12,445
Accrued Expenses and Other Current Liabilities [Member]
Operating lease liability - current	1,437	$ 1,141
Finance lease liability - current	$ 148

Note 11 - Revolving Credit Ag_2

Note 11 - Revolving Credit Agreement (Details Textual) - Revolving Credit Facility [Member] - USD ($) $ in Thousands	Apr. 08, 2020	Oct. 24, 2017	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Proceeds from Long-term Lines of Credit	$ 50,000
Debt Instrument, Interest Rate, Stated Percentage	2.08%
Interest Expense, Debt, Total					$ 800
Repayments of Lines of Credit			$ 25,000	$ 25,000
Debt Instrument, Term (Year)		5 years
Line of Credit Facility, Current Borrowing Capacity		$ 50,000
Line of Credit Facility, Additional Borrowing Capacity		50,000
Line of Credit Facility, Maximum Borrowing Capacity		$ 100,000
Line of Credit Facility, Commitment Fee Percentage		0.25%
Long-term Line of Credit, Total			$ 0		$ 0	$ 0
Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		0.25%
Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%
Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		0.50%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.00%

Note 12 - Commitments and Con_2

Note 12 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Standard and Extended Product Warranty Accrual, Ending Balance	$ 0	$ 0

Note 13 - Revenue by Product _3

Note 13 - Revenue by Product Group, by Significant Customer and by Geographic Location; Geographic Information (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Inventory Recall Expense			$ 1,100	$ 900
Inventory Recall Reserve	$ 0	$ 0
Mitek [Member]
Revenues From Agreements as Percent of Total Revenue	49.00%	71.00%	73.00%

Note 13 - Revenue by Product _4

Note 13 - Revenue by Product Group, by Significant Customer and by Geographic Location; Geographic Information - Product Revenue by Product Group (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2020	[1]	Sep. 30, 2020	[2]	Jun. 30, 2020	[3]	Mar. 31, 2020	[4]	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 32,688		$ 31,694		$ 30,678		$ 35,397		$ 29,772	$ 29,697	$ 30,418	$ 24,723	$ 130,457	$ 114,610	$ 105,555
Percentage of Revenue													100.00%	100.00%	100.00%
Joint Pain Management Therapies [Member]
Revenue													$ 83,029	$ 103,466	$ 96,719
Percentage of Revenue													64.00%	90.00%	92.00%
Joint Preservation and Restoration [Member]
Revenue													$ 39,368	$ 2,070	$ 1,127
Percentage of Revenue													30.00%	2.00%	1.00%
Manufactured Product, Other [Member]
Revenue													$ 8,060	$ 8,976	$ 7,685
Percentage of Revenue													6.00%	8.00%	7.00%
Product [Member]
Revenue													$ 130,457	$ 114,512	$ 105,531
Percentage of Revenue													100.00%	100.00%	100.00%
[1]	In the quarter ended December 31, 2020, we recorded a pre-tax goodwill impairment charge of $24.4 million and we recognized a pre-tax benefit of $12.5 million related to a change in the fair value of our contingent consideration liability.
[2]	In the quarter ended September 30, 2020, we recorded a pre-tax expense in the amount of $4.1 million related to a change in the fair value of our contingent consideration liability.
[3]	In the quarter ended June 30, 2020, we recorded a pre-tax expense in the amount of $4.2 million related to a change in the fair value of our contingent consideration liability.
[4]	In the quarter ended March 31, 2020, we recorded a pre-tax goodwill impairment charge of $18.1 million and we recognized a pre-tax benefit of $24.5 million related to a change in the fair value of our contingent consideration liability.

Note 13 - Revenue by Product _5

Note 13 - Revenue by Product Group, by Significant Customer and by Geographic Location; Geographic Information - Total Revenue by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2020	[1]	Sep. 30, 2020	[2]	Jun. 30, 2020	[3]	Mar. 31, 2020	[4]	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 32,688		$ 31,694		$ 30,678		$ 35,397		$ 29,772	$ 29,697	$ 30,418	$ 24,723	$ 130,457	$ 114,610	$ 105,555
Percentage of Revenue													100.00%	100.00%	100.00%
UNITED STATES
Revenue													$ 103,182	$ 90,302	$ 85,351
Percentage of Revenue													79.00%	79.00%	81.00%
Europe [Member]
Revenue													$ 14,179	$ 14,744	$ 11,730
Percentage of Revenue													11.00%	13.00%	11.00%
Other Location [Member]
Revenue													$ 13,096	$ 9,564	$ 8,474
Percentage of Revenue													10.00%	8.00%	8.00%
[1]	In the quarter ended December 31, 2020, we recorded a pre-tax goodwill impairment charge of $24.4 million and we recognized a pre-tax benefit of $12.5 million related to a change in the fair value of our contingent consideration liability.
[2]	In the quarter ended September 30, 2020, we recorded a pre-tax expense in the amount of $4.1 million related to a change in the fair value of our contingent consideration liability.
[3]	In the quarter ended June 30, 2020, we recorded a pre-tax expense in the amount of $4.2 million related to a change in the fair value of our contingent consideration liability.
[4]	In the quarter ended March 31, 2020, we recorded a pre-tax goodwill impairment charge of $18.1 million and we recognized a pre-tax benefit of $24.5 million related to a change in the fair value of our contingent consideration liability.

Note 13 - Revenue by Product _6

Note 13 - Revenue by Product Group, by Significant Customer and by Geographic Location; Geographic Information - Net Tangible Long-lived Assets by Principal Geographic Areas (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property and equipment, net	$ 50,613	$ 50,783
UNITED STATES
Property and equipment, net	48,611	48,635
ITALY
Property and equipment, net	$ 2,002	$ 2,148

Note 14 - Equity Incentive Pl_3

Note 14 - Equity Incentive Plan (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jun. 16, 2020	Jun. 18, 2019	Jun. 30, 2020	Mar. 31, 2020	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 13, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)						1,600,000
Share-based Payment Arrangement, Expense						$ 5,386	$ 6,087	$ 11,046
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)						$ 41.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value						$ 5,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)						5 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercises in Period, Total Intrinsic Value						$ 2,800	$ 8,500	8,500
Shares Issued, Share, Share-based Payment Arrangement Non-Option Equity Instruments, Exercised (in shares)							31,541
Share-based Compensation Arrangement by Share-based Payment Award Options and Stock Appreciation Rights Vested in Period Fair Value						$ 2,500	$ 2,700	$ 6,700
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)						4 years	3 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)						$ 16.31	$ 14.73	$ 20.01
Share-based Payment Arrangement, Expense, Tax Benefit						$ 200	$ 100	$ 1,500
Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expense						3,954	$ 5,251	10,355
Share-based Payment Arrangement, Expense, Tax Benefit				$ 1,800
Chief Executive Officer [Member]
Share-based Payment Arrangement, Expense					$ 6,200
Total Shareholder Return ("TSRs") Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			2 years 8 months 12 days
Share-based Payment Arrangement, Expense						$ 600
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)						6 years 3 months 18 days
Total Shareholder Return ("TSRs") Options [Member] | President and Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares)			104,638
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total						$ 8,400
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)						2 years 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)						4 years
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised (in shares)						0	35,250
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares)							0
RSAs, RSUs, and PSUs [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total						$ 6,600
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)						2 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value						$ 2,300	$ 1,400	$ 6,800
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)						$ 37.66	$ 33.64	$ 58.84
Performance Restricted Stock Units [Member]
Share-based Payment Arrangement, Expense						$ 100	$ 1,200	$ 700
Share-based Compensation, Performance Shares Measured by Business Targets						40.00%	30.00%
Share-based Compensation, Performance Shares Measured by Financial Targets						60.00%	70.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)								4 years
Minimum [Member] | Total Shareholder Return ("TSRs") Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Target Number			0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)								4 years 6 months
Maximum [Member] | Total Shareholder Return ("TSRs") Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Target Number			150.00%
The 2017 Plan [Member]
Number of Shares Available for Grant Reduced By Each Share Award Issued Other Than Options or SARs (in shares)									2
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		2,700,000							1,200,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)		1,500,000
Common Stock, Capital Shares Reserved for Future Issuance, Number of Shares Increased (in shares)	800,000
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	3,500,000	2,700,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)						10 years
The 2017 Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)						1 year
The 2017 Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)						4 years

Note 14 - Equity Incentive Pl_4

Note 14 - Equity Incentive Plan - Granted and Exercised Stock-based Compensation Awards (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Option [Member]
Grants:
Stock options (in shares)	546,496	254,517
Exercises:
Stock options (in shares)	123,063	518,991
Restricted Stock Units (RSUs) [Member]
Grants:
Restricted stock grants (in shares)	218,804	189,507
Performance Restricted Stock Units [Member]
Grants:
Restricted stock grants (in shares)	162,297	123,500
Stock Appreciation Rights (SARs) [Member]
Exercises:
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised (in shares)	0	35,250

Note 14 - Equity Incentive Pl_5

Note 14 - Equity Incentive Plan - Stock Options and SAR's Activity (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Options and SARs outstanding (in shares) | shares	690,968
Options and SAR's outstanding, Weighted Average Exercise Price Per Share (in dollars per share) | $ / shares	$ 41.65
Options and SAR's Granted (in shares) | shares	546,496
Options and SAR's Granted, Weighted Average Exercise Price Per Share (in dollars per share) | $ / shares	$ 37.78
Options and SAR's Cancelled (in shares) | shares	(112,660)
Options and SAR's Cancelled, Weighted Average Exercise Price Per Share (in dollars per share) | $ / shares	$ 50.15
Options and SAR's Expired (in shares) | shares	(104,922)
Options and SAR's Expired, Weighted Average Exercise Price Per Share (in dollars per share) | $ / shares	$ 46.33
Options and SAR's Exercised (in shares) | shares	(123,063)
Options and SAR's Exercised, Weighted Average Exercise Price Per Share (in dollars per share) | $ / shares	$ 12.43
Options and SARs outstanding (in shares) | shares	896,819
Options and SAR's outstanding, Weighted Average Exercise Price Per Share (in dollars per share) | $ / shares	$ 41.50

Note 14 - Equity Incentive Pl_6

Note 14 - Equity Incentive Plan - Summary of Exercisable Options and SAR's (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Incentive Stock Options [Member]
Exercisable Options and SAR's outstanding (in shares) | shares	109,581
Exercisable Options and SAR's, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 45.43
Exercisable Options and SAR's, Weighted Average Remaining Term (Year)	6 years 6 months
Non-qualified Stock Options [Member]
Exercisable Options and SAR's outstanding (in shares) | shares	341,927
Exercisable Options and SAR's, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 41.63
Exercisable Options and SAR's, Weighted Average Remaining Term (Year)	4 years 6 months
Performance Shares [Member]
Exercisable Options and SAR's outstanding (in shares) | shares	11,210
Exercisable Options and SAR's, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 53.87
Exercisable Options and SAR's, Weighted Average Remaining Term (Year)	2 years 10 months 24 days

Note 14 - Equity Incentive Pl_7

Note 14 - Equity Incentive Plan - Restricted Stock Activity (Details) - RSAs, RSUs, and PSUs [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unvested at beginning of year (in shares)	289,098
Unvested at Beginning of year, weighted average grant date fair value (in dollars per share)	$ 34.53
Granted (in shares)	381,101
Granted, weighted average grant date fair value (in dollars per share)	$ 37.66	$ 33.64	$ 58.84
Cancelled (in shares)	(200,418)
Cancelled, weighted average grant date fair value (in dollars per share)	$ 35.38
Vested/Released (in shares)	(58,245)
Vested/Released, weighted average grant date fair value (in dollars per share)	$ 35.91
Unvested at end of year (in shares)	411,536	289,098
Unvested at end of year, weighted average grant date fair value (in dollars per share)	$ 36.82	$ 34.53

Note 14 - Equity Incentive Pl_8

Note 14 - Equity Incentive Plan - Assumptions Used to Estimate Fair Value of Stock Options and Stock Appreciation Rights (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Expected term (years) (Year)	4 years	3 years 6 months
Expected dividend yield	0.00%	0.00%	0.00%
Minimum [Member]
Risk free interest rate	0.21%	1.41%	2.15%
Expected volatility	46.48%	44.27%	37.12%
Expected term (years) (Year)			4 years
Maximum [Member]
Risk free interest rate	1.59%	2.54%	2.82%
Expected volatility	54.06%	48.52%	45.61%
Expected term (years) (Year)			4 years 6 months

Note 14 - Equity Incentive Pl_9

Note 14 - Equity Incentive Plan - Total Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock-based compensation expense	$ 5,386	$ 6,087	$ 11,046
Cost of Sales [Member]
Stock-based compensation expense	719	412	(160)
Research and Development Expense [Member]
Stock-based compensation expense	713	424	851
Selling, General and Administrative Expenses [Member]
Stock-based compensation expense	$ 3,954	$ 5,251	$ 10,355

Note 15 - Employee Benefit Pl_2

Note 15 - Employee Benefit Plan (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	140.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	5.00%
Defined Contribution Plan, Employer Matching Contribution, Amount	$ 1.7	$ 0.8	$ 0.8

Note 16 - Accelerated Share R_2

Note 16 - Accelerated Share Repurchases (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Jan. 17, 2020	Jan. 17, 2020	May 08, 2019	May 07, 2019	Jul. 19, 2018	Jul. 19, 2018	May 24, 2018	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 14, 2020	May 02, 2019	Jul. 16, 2018
Stock Repurchase Program, Authorized Amount													$ 50,000
Payments for Repurchase of Common Stock									$ 0	$ 30,000	$ 30,000
Common Stock [Member]
Stock Repurchased During Period, Shares (in shares)									139	452	806
Accelerated Stock Repurchase [Member]
Stock Repurchase Program, Authorized Amount				$ 30,000									30,000
Payments for Repurchase of Common Stock				$ 30,000
Stock Repurchased During Period, Shares (in shares)			500
Share Price (in dollars per share)			$ 39.85
Share Repurchased, Pecentage			60.00%
Stock Repurchase Program, Remaining Authorized Repurchase Amount												$ 12,000
Accelerated Stock Repurchase [Member] | Morgan Stanley & Co., LLC [Member]
Payments for Repurchase of Common Stock							$ 30,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount														$ 12,000
Number of Additional Shares Deliver to Company if ASR Agreement Settled (in shares)	100				400
Stock Repurchased and Retired During Period, Shares (in shares)		600				800	400
Accelerated Share Repurchases, Final Price Paid Per Share (in dollars per share)		$ 50.78
Accelerated Share Repurchases, Initial Price Paid Per Share (in dollars per share)						$ 37.18
Accelerated Stock Repurchase [Member] | Morgan Stanley & Co., LLC [Member] | Common Stock [Member]
Stock Repurchase Program, Authorized Amount							$ 30,000
Accelerated Share Repurchases, Initial Price Paid Per Share (in dollars per share)							$ 41.41
Repurchase from Open Market [Member]
Stock Repurchase Program, Authorized Amount													$ 20,000
Treasury Stock, Shares, Acquired (in shares)								0

Note 17 - Income Taxes (Details

Note 17 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 03, 2020
Deferred Tax Liabilities, Net, Total	$ 11,895
Unrecognized Tax Benefits, Ending Balance	0	$ 0
Income Tax Expense (Benefit), Total	(4,642)	$ 8,928	$ 4,485
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit), Total	200		$ 1,500
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards, Total	8,600
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	1,900
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total	3,000
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	70
Foreign Tax Authority [Member] | Ministry of Economic Affairs and Finance, Italy [Member]
Operating Loss Carryforwards, Total	8,500
Operating Loss Carryforwards, Valuation Allowance, Total	900
Arthrosurface [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	$ 11,200			$ 11,147

Note 17 - Income Taxes - Compon

Note 17 - Income Taxes - Components of Income Before Taxes and Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Domestic	$ (25,722)	$ 38,299	$ 26,227
Foreign	(2,902)	(2,178)	(3,020)
Income before income taxes	(28,624)	36,121	23,207
Federal	357	6,245	4,783
State	(1,970)	1,884	1,644
Foreign	49	202	405
Total current	(1,564)	8,331	6,832
Federal	(1,980)	1,086	(992)
State	(1,070)	324	(152)
Foreign	(28)	(813)	(1,203)
Total deferred	(3,078)	597	(2,347)
Total provision	$ (4,642)	$ 8,928	$ 4,485

Note 17 - Income Taxes - Signif

Note 17 - Income Taxes - Significant Components of Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Lease liability	$ 5,147	$ 5,206
Inventory reserve	2,004	1,187
Net operating loss carry forwards	4,775	1,812
Stock-based compensation expense	1,742	1,901
Tax credits	2,485	0
Foreign currency exchange	229	346
Accrued expenses and other	156	1,076
Gross deferred tax assets	16,538	11,528
Less: valuation allowance	(857)	0
Deferred tax assets	15,681	11,528
Acquisition-related intangibles	(13,972)	(2,023)
Depreciation	(8,493)	(8,665)
Right of use asset	(5,111)	(5,171)
Deferred tax liabilities	(27,576)	$ (15,859)
Net deferred tax liabilities	$ (11,895)

Note 17 - Income Taxes - Reconc

Note 17 - Income Taxes - Reconciliation Between U.S. Federal Statutory Rate and Effective Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statutory federal income tax rate	21.00%	21.00%	21.00%
State tax expense, net of federal benefit	1.50%	5.50%	5.50%
Stock compensation and Section 162(m) limitation	(2.20%)	0.90%	(0.50%)
Goodwill impairment	(16.80%)	0.00%	0.00%
Change in fair value of contingent consideration	6.70%	0.00%	0.00%
Change in state apportionment	4.90%	0.00%	0.00%
Federal, state and foreign tax credits	2.20%	(1.50%)	(3.60%)
Valuation allowance	(3.00%)	0.00%	0.00%
Other permanent items	1.90%	(1.20%)	(3.10%)
Effective income tax rate	16.20%	24.70%	19.30%

Note 18 - Earnings Per Share _3

Note 18 - Earnings Per Share ("EPS") (Details Textual) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		500,000	700,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0	13,000	42,000

Note 18 - Earnings Per Share _4

Note 18 - Earnings Per Share ("EPS") - Basic and Diluted Earnings Per Share (Details) - shares

3 Months Ended

12 Months Ended

Dec. 31, 2020

[1]

Sep. 30, 2020

[2]

Jun. 30, 2020

[3]

Mar. 31, 2020

[4]

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Basic (in shares)

14,222,163

14,120,584

14,441,536

Stock options, SARs, RSAs and RSUs (in shares)

0

253,199

247,505

Diluted shares used in the calculation of earnings per share (in shares)

14,275,000

14,205,000

14,199,000

14,353,000

14,621,000

14,387,000

14,088,000

14,314,000

14,222,163

14,373,783

14,689,041

[1]

In the quarter ended December 31, 2020, we recorded a pre-tax goodwill impairment charge of $24.4 million and we recognized a pre-tax benefit of $12.5 million related to a change in the fair value of our contingent consideration liability.

[2]

In the quarter ended September 30, 2020, we recorded a pre-tax expense in the amount of $4.1 million related to a change in the fair value of our contingent consideration liability.

[3]

In the quarter ended June 30, 2020, we recorded a pre-tax expense in the amount of $4.2 million related to a change in the fair value of our contingent consideration liability.

[4]

In the quarter ended March 31, 2020, we recorded a pre-tax goodwill impairment charge of $18.1 million and we recognized a pre-tax benefit of $24.5 million related to a change in the fair value of our contingent consideration liability.

Note 19 - Quarterly Financial_3

Note 19 - Quarterly Financial Data (Unaudited) (Details Textual) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill, Impairment Loss	$ 24,400			$ 18,100	$ 42,520	$ 0	$ 0
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ (12,500)	$ 4,100	$ 4,200	$ (24,500)	$ (28,666)	$ 0	$ 0

Note 19 - Quarterly Financial_4

Note 19 - Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2020	[1]	Sep. 30, 2020	[2]	Jun. 30, 2020	[3]	Mar. 31, 2020	[4]	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 32,688		$ 31,694		$ 30,678		$ 35,397		$ 29,772	$ 29,697	$ 30,418	$ 24,723	$ 130,457	$ 114,610	$ 105,555
Gross profit	16,745		17,343		13,742		21,196		21,123	23,746	23,582	17,412	69,026	85,863	74,275
Net income (loss)	$ (15,657)		$ (6,411)		$ (7,708)		$ 5,794		$ 4,051	$ 9,200	$ 9,435	$ 4,507	$ (23,982)	$ 27,193	$ 18,722
Basic (in dollars per share)	$ (1.10)		$ (0.45)		$ (0.54)		$ 0.41		$ 0.28	$ 0.65	$ 0.68	$ 0.32	$ (1.69)	$ 1.93	$ 1.30
Diluted (in dollars per share)	$ (1.10)		$ (0.45)		$ (0.54)		$ 0.40		$ 0.28	$ 0.66	$ 0.67	$ 0.31	$ (1.69)	$ 1.89	$ 1.27
Basic common shares outstanding (in shares)	14,275,000		14,205,000		14,199,000		14,202,000		14,280,000	14,070,000	13,916,000	14,185,000
Diluted common shares outstanding (in shares)	14,275,000		14,205,000		14,199,000		14,353,000		14,621,000	14,387,000	14,088,000	14,314,000	14,222,163	14,373,783	14,689,041
[1]	In the quarter ended December 31, 2020, we recorded a pre-tax goodwill impairment charge of $24.4 million and we recognized a pre-tax benefit of $12.5 million related to a change in the fair value of our contingent consideration liability.
[2]	In the quarter ended September 30, 2020, we recorded a pre-tax expense in the amount of $4.1 million related to a change in the fair value of our contingent consideration liability.
[3]	In the quarter ended June 30, 2020, we recorded a pre-tax expense in the amount of $4.2 million related to a change in the fair value of our contingent consideration liability.
[4]	In the quarter ended March 31, 2020, we recorded a pre-tax goodwill impairment charge of $18.1 million and we recognized a pre-tax benefit of $24.5 million related to a change in the fair value of our contingent consideration liability.