Anika Therapeutics (ANIK) 10-K15 Mar 242023 FY Annual reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2023	Mar. 06, 2024	Jun. 30, 2023
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	2023
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 370,427,535
Entity Common Stock, Shares Outstanding		14,849,942
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Boston, Massachusetts

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 72,867	$ 86,327
Accounts receivable, net	35,961	34,627
Inventories	46,386	39,765
Prepaid expenses and other current assets	8,095	8,828
Total current assets	163,309	169,547
Property and equipment, net	46,198	48,279
Right-of-use assets	28,767	30,696
Other long-term assets	18,672	17,219
Deferred tax assets	1,489	1,449
Intangible assets, net	4,626	74,599
Goodwill	7,571	7,339
Total assets	270,632	349,128
Current liabilities:
Accounts payable	9,860	9,074
Accrued expenses and other current liabilities	21,199	18,840
Total current liabilities	31,059	27,914
Other long-term liabilities	404	398
Deferred tax liability	0	6,436
Lease liabilities	26,904	28,817
Commitments and contingencies (Note 11)
Stockholders’ equity:
Preferred stock, $0.01 par value; 1,250 shares authorized, no shares issued and outstanding at December 31, 2023 and 2022, respectively		0
Common stock, $.01 par value; 90,000 shares authorized, 14,848 issued and 14,660 outstanding and 14,625 shares issued and outstanding at December 31, 2023 and 2022, respectively	147	146
Additional paid-in-capital	90,009	81,141
Accumulated other comprehensive loss	(5,943)	(6,443)
Retained earnings	128,052	210,719
Total stockholders’ equity	212,265	285,563
Total liabilities and stockholders’ equity	$ 270,632	$ 349,128

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands	Dec. 31, 2023	Dec. 31, 2022
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)	14,848	14,625
Common stock, shares outstanding (in shares)	14,660	14,625

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue	$ 166,662	$ 156,236	$ 147,794
Cost of revenue	63,574	62,660	64,851
Gross profit	103,088	93,576	82,943
Operating expenses:
Research & development	32,690	28,182	27,327
Selling, general & administrative	95,847	84,794	74,096
Impairment of intangible assets	62,190	0	0
Change in fair value of contingent consideration	0	0	(21,095)
Total operating expenses	190,727	112,976	80,328
(Loss) income from operations	(87,639)	(19,400)	2,615
Interest and other income (expense), net	2,312	654	(188)
(Loss) income before income taxes	(85,327)	(18,746)	2,427
Benefit from for income taxes	(2,660)	(3,887)	(1,707)
Net (loss) income	$ (82,667)	$ (14,859)	$ 4,134
Basic (in dollars per share)	$ (5.64)	$ (1.02)	$ 0.29
Diluted (in dollars per share)	$ (5.64)	$ (1.02)	$ 0.28
Basic (in shares)	14,656	14,561	14,401
Diluted (in shares)	14,656	14,561	14,634
Net (loss) income	$ (82,667)	$ (14,859)	$ 4,134
Foreign currency translation adjustment	500	(725)	(1,176)
Comprehensive (loss) income	$ (82,167)	$ (15,584)	$ 2,958

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Restricted Stock Units (RSUs) [Member] Common Stock Outstanding [Member]	Restricted Stock Units (RSUs) [Member] Additional Paid-in Capital [Member]	Restricted Stock Units (RSUs) [Member] Retained Earnings [Member]	Restricted Stock Units (RSUs) [Member] AOCI Attributable to Parent [Member]	Restricted Stock Units (RSUs) [Member]	Common Stock Outstanding [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2020						14,329
Balance at Dec. 31, 2020						$ 143	$ 55,355	$ 221,444	$ (4,542)	$ 272,400
Issuance of common stock for equity awards (in shares)						32
Issuance of common stock for equity awards						$ 0	1,128	0	0	1,128
Vesting of restricted stock units (in shares)	92
Vesting of restricted stock units	$ 1	$ (1)	$ 0	$ 0	$ 0
Stock-based compensation expense						$ 0	11,085	0	0	11,085
Retirement of common stock for minimum tax withholdings (in shares)						(12)
Retirement of common stock for minimum tax withholdings						$ 0	(486)	0	0	(486)
Net (loss) income						0	0	4,134	0	4,134
Other comprehensive income (loss)						0	0	0	(1,176)	(1,176)
Stock-based compensation expense						$ 0	11,085	0	0	11,085
Balance (in shares) at Dec. 31, 2021						14,441
Balance at Dec. 31, 2021						$ 144	67,081	225,578	(5,718)	287,085
Issuance of common stock for equity awards (in shares)						0
Issuance of common stock for equity awards						$ 0	16	0	0	16
Vesting of restricted stock units (in shares)	184
Vesting of restricted stock units	$ 2	(2)	0	0	0
Stock-based compensation expense						$ 0	14,315	0	0	14,315
Retirement of common stock for minimum tax withholdings (in shares)						(35)
Retirement of common stock for minimum tax withholdings						$ 0	(934)	0	0	(934)
Net (loss) income						0	0	(14,859)	0	(14,859)
Other comprehensive income (loss)						$ 0	0	0	(725)	(725)
Issuance of common stock from employee purchase plan (in shares)						35
Issuance of common stock from employee purchase plan						$ 0	665	0	0	665
Stock-based compensation expense						$ 0	14,315	0	0	14,315
Balance (in shares) at Dec. 31, 2022						14,625
Balance at Dec. 31, 2022						$ 146	81,141	210,719	(6,443)	285,563
Issuance of common stock for equity awards (in shares)						2
Issuance of common stock for equity awards						$ 0	23	0	0	23
Vesting of restricted stock units (in shares)	262
Vesting of restricted stock units	$ 3	$ (3)	$ 0	$ 0	$ 0
Stock-based compensation expense						$ 0	15,243	0	0	15,243
Retirement of common stock for minimum tax withholdings (in shares)						(82)
Retirement of common stock for minimum tax withholdings						$ 0	(2,152)	0	0	(2,152)
Net (loss) income						0	0	(82,667)	0	(82,667)
Other comprehensive income (loss)						$ 0	0	0	500	500
Issuance of common stock from employee purchase plan (in shares)						41
Issuance of common stock from employee purchase plan						$ 0	805	0	0	805
Stock-based compensation expense						$ 0	15,243	0	0	15,243
Repurchase of common stock (in shares)						(188)
Repurchase of common stock						$ (2)	(5,048)	0	0	(5,050)
Balance (in shares) at Dec. 31, 2023						14,660
Balance at Dec. 31, 2023						$ 147	$ 90,009	$ 128,052	$ (5,943)	$ 212,265

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net (loss) income	$ (82,667)	$ (14,859)	$ 4,134
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	6,434	6,704	6,480
Amortization of acquisition related intangible assets	7,783	7,783	7,837
Amortization of acquisition related inventory step-up	0	0	6,465
Non-cash operating lease cost	2,231	1,850	1,708
Change in fair value of contingent consideration	0	0	(21,095)
Loss on disposal of fixed assets	1,917	0	993
Loss on impairment of intangible assets	62,190	0	600
Stock-based compensation expense	15,243	14,315	11,085
Deferred income taxes	(6,327)	(5,270)	(1,766)
Provision for doubtful accounts	190	378	64
Provision for inventory	3,341	5,329	6,628
Other	0	0	(18)
Changes in operating assets and liabilities:
Accounts receivable	(1,305)	(5,630)	(6,216)
Inventories	(11,396)	(6,873)	(6,619)
Prepaid expenses, other current and long-term assets	560	(792)	1,424
Accounts payable	(11)	1,965	(1,100)
Operating lease liabilities	(2,149)	(1,485)	(1,626)
Accrued expenses, other current and long-term liabilities	1,648	(443)	3,510
Income taxes	530	1,437	(1,311)
Payments of contingent consideration	0	0	(2,780)
Net cash (used in) provided by operating activities	(1,788)	4,409	8,397
Cash flows from investing activities:
Acquisition of Parcus Medical and Arthrosurface, net of cash acquired	0	0	(476)
Proceeds from maturities of investments	0	0	2,501
Purchases of property and equipment	(5,427)	(7,486)	(5,143)
Net cash used in investing activities	(5,427)	(7,486)	(3,118)
Cash flows from financing activities:
Payments made on finance leases	0	(284)	(201)
Repurchases of common stock	(5,000)	0	0
Proceeds from employee stock purchase program	805	665	0
Cash paid for tax withheld on vested restricted stock awards	(2,152)	(934)	(486)
Proceeds from exercises of equity awards	23	16	1,128
Payments of contingent consideration	0	(4,315)	(7,220)
Net cash used in financing activities	(6,324)	(4,852)	(6,779)
Exchange rate impact on cash	79	(130)	69
Decrease in cash and cash equivalents	(13,460)	(8,059)	(1,431)
Cash and cash equivalents at beginning of period	86,327	94,386	95,817
Cash and cash equivalents at end of period	72,867	86,327	94,386
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net of refunds	3,117	106	1,233
Right-of-use assets obtained in exchange for operating lease liabilities	3,239	2,471
Non-cash investing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	815	108	15
Accounting Standards Update 2016-02 [Member]
Supplemental disclosure of cash flow information:
Right-of-use assets obtained in exchange for operating lease liabilities	$ 268	$ 11,703	$ 220

Note 1 - Nature of Business

Note 1 - Nature of Business	12 Months Ended
Note 1 - Nature of Business	Dec. 31, 2023
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, sports medicine and Arthrosurface joint solutions. In early 2020, 30 The Company is subject to risks common to companies in the life sciences industry including, but not

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
Note 2 - Summary of Significant Accounting Policies	Dec. 31, 2023
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 (“US GAAP”) 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 $0.5 million, ($0.7) million, and ($1.2) million for the years ended December 31, 2023, 2022, 2021, 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 ($0.1) million, ($0.5) million, and ($0.4) million during the years ended December 31, 2023, 2022, 2021, Accounts Receivable The Company estimates an allowance for credit losses with its accounts receivable 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, management specifically analyzes individual accounts receivable, historical bad debts, customer concentrations, customer creditworthiness, current and reasonable and supportable forecasts of future economic conditions, accounts receivable aging trends, and changes in the Company’s customer payment terms. The components of the Company’s accounts receivables are as follows: As of December 31, 2023 2022 Accounts Receivable $ 37,580 $ 36,235 Less: Allowance for credit losses 1,619 1,608 Net balance, end of the year $ 35,961 $ 34,627 A summary of activity in the allowance for credit losses is as follows: As of December 31, 2023 2022 2021 Balance, beginning of the year $ 1,608 $ 1,442 $ 1,523 Amounts provided 508 554 156 Amounts recovered (318 ) (180 ) (92 ) Amounts written off (153 ) (158 ) (73 ) Translation adjustments (26 ) (50 ) (72 ) Balance, end of the year $ 1,619 $ 1,608 $ 1,442 Revenue Recognition Pursuant to Accounting Standard Codification 606, Revenue from Contracts with Customers 606” five Revenue The Company generates sales principally through three For commercial partnership sales, the Company sells its products directly to these partners, who perform most of the downstream sales and marketing activities to customers and end-users. These arrangements may December 31, 2023, 2022 2021 2016 no may not not For sales to hospitals and ASCs, which generally pairs in-house sales representatives with local or regional distributors, the inventory is generally consigned so that products are available when needed for surgical procedures. No For distributor sales, the Company sells its products principally to 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 international 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 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 2023, 2022 2021, not The Company receives payments from its customers based on billing schedules established in each contract. Any up-front payments and fees are recorded as deferred revenue upon receipt or when due and may December 31, 2023 2022, Generally, customer contracts contain Free on Board (“FOB”) or Ex-Works 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 The Company may three one one December 31, 2023 December 31, 2022. Investments are subject to a periodic impairment review. For available-for-sale debt securities in an unrealized loss position, the Company first not Any impairment that has not During the years ended December 31, 2023, 2022 2021, not not not Concentration of Credit Risk The Company has no three 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. As of December 31, 2023 2022, No 10% Inventories Inventories are primarily stated at the lower of standard cost and net realizable value, with cost determined using the first first 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 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 (in years) 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 assets are stated at cost, which includes the cost of construction and other direct costs attributable to the construction. Construction-in-process assets are 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 U.S. 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 The Company performed a quantitative annual assessment for impairment of the remaining goodwill with respect to legacy Anika reporting unit as of November 30, 2023, not not not November 30, 2023. To conduct impairment tests of IPR&D, the fair value of the IPR&D project is compared to its carrying value. If the carrying value exceeds its fair value, the Company records an impairment loss to the extent that the carrying value of the IPR&D project exceeds its fair value. The Company estimates the fair value for IPR&D using the income approach, which is based on the Multi-Period Excess Earnings Method (“MPEEM”). MPEEM measures economic benefit indirectly by calculating the income attributable to an asset after appropriate returns are paid to complementary assets used in conjunction with the subject asset to produce the earnings associated with the subject asset, commonly referred to as contributory asset charges. This approach incorporates significant estimates and assumptions related to the forecasted results including revenues, expenses, expected economic life of the asset, contributory asset charges and discount rates to estimate future cash flows. 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 December 31, 2023, 6 In determining the useful lives of intangible assets, the Company considers 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, the Company considers 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. Non-Recurring Fair Value Measurement In measuring the impairment of intangible assets, the fair value of the Company's developed technology, customer relationship and tradename definite lived intangible assets within the Parcus and Arthrosurface reporting unit are classified within Level 3 6 Research and Development Research and development costs consist primarily of salaries and related expenses for personnel, clinical trial expenses 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 We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets, or DTAs, and deferred tax liabilities, or DTLs, for the expected future tax consequences of events that have been included in the financial statements. Under this method, we determine DTAs and DTLs based on the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in income in the period that includes the enactment date. We recognize DTAs to the extent that we believe that these assets are more likely than not We record uncertain tax positions in accordance with ASC 740, Income Taxes two 1 not 2 not 50 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 as of December 31, 2023. 280, Segment Reportin one 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 Issued Accounting Pronouncements No

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	12 Months Ended
Note 3 - Fair Value Measurements	Dec. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	3. There were no December 31, 2023 2022. The Company’s investments, including cash equivalents, 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, 2023 (Level 1) (Level 2) (Level 3) Amortized Cost Cash equivalents: Money Market Funds $ 55,485 $ 55,485 $ - $ - $ 55,485 Active Markets Significant Other Significant for Identical Assets Observable Inputs Unobservable Inputs December 31, 2022 (Level 1) (Level 2) (Level 3) Amortized Cost Cash equivalents: Money Market Funds $ 67,801 $ 67,801 $ - $ - $ 67,801 There were no 2023 2022.

Note 4 - Inventories

Note 4 - Inventories	12 Months Ended
Note 4 - Inventories	Dec. 31, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	4. Total inventories included in the balance sheet consist of the following: As of December 31, 2023 2022 Raw materials $ 15,507 $ 20,535 Work-in-process 17,002 10,648 Finished goods 32,084 25,306 Total $ 64,593 $ 56,489 Inventories $ 46,386 $ 39,765 Other long-term assets 18,207 16,724 Total $ 64,593 $ 56,489 Inventories are stated net of inventory reserves of approximately $11.7 million and $9.9 million, as of December 31, 2023 2022,

Note 5 - Property and Equipment

Note 5 - Property and Equipment	12 Months Ended
Note 5 - Property and Equipment	Dec. 31, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	5. and Equipment Property and equipment is stated at cost and consists of the following: December 31, 2023 2022 Equipment and software $ 52,278 $ 52,112 Furniture and fixtures 1,884 2,413 Leasehold improvements 34,975 34,916 Construction in progress 4,730 5,021 Subtotal 93,867 94,462 Less accumulated depreciation (47,669 ) (46,183 ) Total $ 46,198 $ 48,279 Depreciation expense was $6.4 million, $6.7 million, and $6.5 million for the years ended December 31, 2023, 2022, 2021,

Note 6 - Acquired Intangible As

Note 6 - Acquired Intangible Assets, Net	12 Months Ended
Note 6 - Acquired Intangible Assets, Net	Dec. 31, 2023
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	6. Intangible assets consist of the following: Year Ended December 31, 2023 Gross Cost Less: Accumulated Currency Translation Adjustment Less: Current Period Impairment Charge Less: Accumulated Amortization Net Book Value Weighted Average Useful Life (in Years) Developed technology $ 89,580 $ (1,608 ) $ (56,518 ) $ (29,481 ) $ 1,973 15 IPR&D 2,656 (1,006 ) - - 1,650 Indefinite Customer relationships 9,000 - (5,113 ) (3,527 ) 360 10 Distributor relationships 4,700 (415 ) - (4,285 ) - 5 Patents 1,000 (189 ) - (728 ) 83 16 Tradenames 5,200 - (559 ) (4,081 ) 560 5 Total $ 112,136 $ (3,218 ) $ (62,190 ) $ (42,102 ) $ 4,626 13 Year Ended December 31, 2022 Gross Cost Less: Accumulated Currency Translation Adjustment Less: Current Period Impairment Charge Less: Accumulated Amortization Net Book Value Weighted Average Useful Life Developed technology $ 89,580 $ (1,608 ) $ - $ (23,686 ) $ 64,286 15 IPR&D 2,656 (1,006 ) - - 1,650 Indefinite Customer relationships 9,000 - - (2,627 ) 6,373 10 Distributor relationships 4,700 (415 ) - (4,285 ) - 5 Patents 1,000 (189 ) - (680 ) 131 16 Tradenames 5,200 - - (3,041 ) 2,159 5 Total $ 112,136 $ (3,218 ) $ - $ (34,319 ) $ 74,599 13 Total amortization expense with respect to the definite lived acquired intangible assets was $7.8 million for each of the years ended December 31, 2023, 2022 2021, The Company performed an assessment of its definite lived acquired intangible assets during the quarter ended December 31, 2023. December 31, 2023. December 31, 2023 The Company performed its annual assessment of the IPR&D intangible asset as of November 30, 2023. November 30, 2023. No

Note 7 - Goodwill

Note 7 - Goodwill	12 Months Ended
Note 7 - Goodwill	Dec. 31, 2023
Notes to Financial Statements
Goodwill Disclosure [Text Block]	7. The following table provides a roll forward of goodwill for the years ended December 31, 2023 2022: As of December 31, 2023 2022 Balance, beginning January 1 $ 7,339 $ 7,781 Effect of foreign currency adjustments 232 (442 ) Balance, ending December 31 $ 7,571 $ 7,339 The goodwill balance at December 31, 2023 2022 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, 2023. For the legacy Anika reporting unit, the Company performed a quantitative assessment as of November 30, 2023. not not November 30, 2023. no December 31, 2023.

Note 8 - Leases

Note 8 - Leases	12 Months Ended
Note 8 - Leases	Dec. 31, 2023
Notes to Financial Statements
Lessee, Operating Leases and Finance Leases [Text Block]	8. The Company leases its buildings and manufacturing facilities under operating leases. As of December 31, 2023, In June 2022, 2027. 2038. The Company leases office space in Padova, Italy. The current term of the Padova lease extends to 2032, 2026 the Company also has operating leases for corporate offices, manufacturing and warehouse facilities. The operating leases consist of one two October 2022, 2024. June 2022, two 2027. The significant assumptions in recognizing the right-of-use asset and lease liability are as follows: Incremental borrowing rate not not December 31, 2023 Lease term. not The components of lease expense and other information are as follows: Years Ended December 31 2023 2022 2021 Finance lease amortization of right-of-use assets $ - $ 121 $ 143 Interest on finance lease liabilities - 11 19 Finance lease expense - 132 162 Operating lease expense 3,320 2,839 2,468 Short-term lease expense - 17 2 Variable lease expense 425 413 319 Total lease expense $ 3,745 $ 3,401 $ 2,951 Years Ended December 31 2023 2022 Weighted Average Remaining Lease Term (in years) Operating leases 13.9 14.8 Weighted Average Discount Rate Operating leases 3.6 % 3.6 % Other information Operating cash flows from operating leases $ 3,239 $ 2,471 Future commitments due under these lease agreements as of December 31, 2023 Years ended December 31, Operating Leases 2024 $ 3,131 2025 3,142 2026 2,837 2027 2,643 2028 2,329 Thereafter 22,901 Present value adjustment (7,946 ) Present value of lease payments 29,037 Less current portion included in accrued expenses and other current liabilities (2,133 ) Total lease liabilities $ 26,904

Note 9 - Accrued Expenses

Note 9 - Accrued Expenses	12 Months Ended
Note 9 - Accrued Expenses	Dec. 31, 2023
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	9. Accrued expenses consist of the following: As of December 31, 2023 2022 Compensation and related expenses $ 11,828 $ 11,303 Professional fees 3,240 3,145 Operating lease liability- current 2,133 2,073 Discontinuation of software development project 1,904 - Income taxes payable 1,240 810 Clinical trial costs 460 999 Other 394 510 Total $ 21,199 $ 18,840

Note 10 - Revolving Credit Agre

Note 10 - Revolving Credit Agreement	12 Months Ended
Note 10 - Revolving Credit Agreement	Dec. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	10. On November 12, 2021, October 24, 2017 may five December 31, 2023 2022, 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 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	12 Months Ended
Note 11 - Commitments and Contingencies	Dec. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. 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, 2023 2022, no The Company is also involved from time-to-time in various legal proceedings arising in the normal course of business. Although the outcomes of these legal proceedings are inherently difficult to predict, the Company does not

Note 12 - Revenue and Geographi

Note 12 - Revenue and Geographic Information	12 Months Ended
Note 12 - Revenue and Geographic Information	Dec. 31, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	12. The Company categorizes its product portfolio into three Product revenue by product family is as follows: Years Ended December 31, 2023 2022 2021 Revenue Percentage of Revenue Percentage of Revenue Percentage of OA Pain Management $ 101,927 61 % $ 91,984 59 % $ 85,084 58 % Joint Preservation and Restoration 54,879 33 % 50,402 32 % 48,588 33 % Non-Orthopedic 9,856 6 % 13,850 9 % 14,122 9 % Total $ 166,662 100 % $ 156,236 100 % $ 147,794 100 % Effective January 1, 2023, December 31, 2022 2021. 2023, 2022 2021, 2022 2021 Product revenue from the Company’s sole significant customer, Mitek, as a percentage of the Company’s total product revenue was 45%, 43%, and 45% for the years ended December 31, 2023, 2022, 2021, 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, 2023 2022 2021 Total Percentage of Total Percentage of Total Percentage of Revenue Revenue Revenue Revenue Revenue Revenue Geographic Location: United States $ 123,129 74 % $ 119,151 76 % $ 113,833 77 % Europe 21,724 13 % 20,639 13 % 19,580 13 % Other 21,809 13 % 16,446 11 % 14,381 10 % Total $ 166,662 100 % $ 156,236 100 % $ 147,794 100 % Net long-lived assets, consisting primarily 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: As of December 31, 2023 2022 United States $ 45,077 $ 47,068 Italy 1,075 1,211 United Kingdom 46 - Total $ 46,198 $ 48,279

Note 13 - Equity Incentive Plan

Note 13 - Equity Incentive Plan	12 Months Ended
Note 13 - Equity Incentive Plan	Dec. 31, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	13. Equity Incentive Plan The Anika Therapeutics, Inc. 2017 “2017 June 13, 2017 June 18, 2019, June 16, 2020 June 16, 2021 June 14, 2023. 2017 may 2017 no may 2017 December 31, 2023 2017 The Anika Therapeutics, Inc. 2021 November 4, 2021in may not 2017 December 2023 December 31, 2023 The Company may one four ten For the years ended December 31, 2023, 2022, Years Ended December 31, 2023 2022 2021 Cost of revenue $ 646 $ 820 $ 716 Research and development 2,189 1,646 1,233 Selling, general and administrative 12,408 11,849 9,136 Total stock-based compensation expense $ 15,243 $ 14,315 $ 11,085 For the years ended December 31, 2023, 2022 2021, Stock Options Stock options are granted to purchase common shares at prices that are equal to the fair market value of the shares on the date the options are granted or, in the case of premium options, are granted with an exercise price at 110% of the market price of the Company’s common stock on the date of grant. Options generally vest in equal annual installments over a period of three four 10 The following summarizes the activity under the Company’s stock option plans: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding as of December 31, 2022 1,530,703 $ 34.93 Granted 404,903 $ 28.58 Exercised (2,034 ) $ 18.30 $ 20 Forfeited and canceled (120,843 ) $ 36.59 Outstanding as of December 31, 2023 1,812,729 $ 33.42 7.5 $ 127 Vested, December 31, 2023 983,834 $ 36.66 6.7 $ 5 Vested or expected to vest, December 31, 2023 1,812,729 $ 33.42 7.5 $ 127 The aggregate intrinsic value of options exercised was immaterial for the years ended December 31, 2023 2022, December 31, 2021. The Company granted 404,903 stock options during the year ended December 31, 2023, 323,993 The Company uses the Black-Scholes pricing model to determine the fair value of options granted. The calculation of the fair value of stock options is affected by the stock price on the grant date, the expected volatility of the Company’s common stock over the expected term of the award, the expected life of the award, the risk-free interest rate and the dividend yield. The assumptions used in the Black-Scholes pricing model for options granted during the years ended December 31, 2023, 2022 2021, 2023 2022 2021 Risk-free interest rate 3.52% - 4.64% 1.28% - 4.28% 0.29% - 1.00% Expected stock price volatility 48.19% - 49.44% 53.80% - 55.55% 54.80% - 56.35% Expected life of options (in years) 4.5 4.5 4.0 Expected dividend yield 0.0% 0.0% 0.0% Fair value per option 11.45 11.45 14.80 As of December 31, 2023, Restricted Stock Units RSUs generally vest in equal annual installments over a three four RSU activity for the year ended December 31, 2023 Number of Shares Weighted Average Fair Value Outstanding as of December 31, 2022 $ 675,405 $ 28.40 Granted 442,762 $ 26.66 Vested (261,939 ) $ 29.44 Forfeited and cancelled (84,870 ) $ 27.11 Outstanding as of December 31, 2023 $ 771,358 $ 27.19 The weighted-average grant-date fair value per share of RSUs granted was $26.66, $25.14 and $35.88 for the years ended December 31, 2023, 2022 2021, December 31, 2023, 2022 2021, As of December 31, 2023, Performance Stock Units The Company granted performance stock units (“PSUs”) to employees in 2019 2020 2019 2022 not 2020 not 2021 not 2022 not 2022 no December 31, 2023. PSU activity for the year ended December 31, 2023 Number of Shares Weighted Average Fair Value Outstanding as of December 31, 2022 117,897 $ 34,98 Granted - $ - Vested - $ - Forfeited and cancelled (117,897 ) $ 34.98 Outstanding as of December 31, 2023 - $ - The weighted-average grant-date fair value per share of PSUs granted was $32.53 for the year ended December 31, 2022. December 31, 2022. no December 31, 2023 2021, no December 31, 2023.

Note 14 - Employee Benefit Plan

Note 14 - Employee Benefit Plan	12 Months Ended
Note 14 - Employee Benefit Plan	Dec. 31, 2023
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	14. The Company’s U.S. employees are eligible to participate in the Company’s 401 may may $2.7 December 31, 2023, 2022, 2021,

Note 15 - Income Taxes

Note 15 - Income Taxes	12 Months Ended
Note 15 - Income Taxes	Dec. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	15. 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, 2023 2022 2021 (Loss) income before income taxes Domestic $ (86,061 ) $ (19,080 ) $ (2,529 ) Foreign 734 334 4,956 $ (85,327 ) $ (18,746 ) $ 2,427 Years ended December 31, 2023 2022 2021 Provision for (benefit from) income taxes: Current: Federal $ 3,153 $ 1,005 $ 494 State 309 285 (635 ) Foreign 312 96 167 Total current 3,774 1,386 26 Deferred: Federal (5,045 ) (3,243 ) (553 ) State (1,418 ) (1,256 ) (426 ) Foreign 29 (774 ) (754 ) Total deferred (6,434 ) (5,273 ) (1,733 ) Total benefit from income taxes $ (2,660 ) $ (3,887 ) $ (1,707 ) Deferred Tax Assets and Liabilities Significant components of the Company’s deferred tax assets and liabilities consist of the following: December 31, 2023 2022 Deferred tax assets: Capitalized research expenditures $ 11,266 $ 5,451 Lease liability 7,082 7,468 Acquisition-related intangible asset 5,040 - Stock-based compensation expense 3,881 2,795 Inventory reserves 3,552 2,763 Compensation accrual 1,685 1,635 Net operating loss carry forwards 1,161 1,551 Accrued expenses 947 519 Tax credits 515 741 Foreign currency exchange 121 221 Gross deferred tax assets 35,250 23,144 Less: Valuation allowance (18,062 ) - Deferred tax assets $ 17,188 $ 23,144 December 31, 2023 2022 Deferred tax liabilities: Acquisition-related intangible asset $ (288 ) $ (12,075 ) Depreciation (8,567 ) (8,804 ) Right of use asset (6,844 ) (7,252 ) Deferred tax liabilities $ (15,699 ) $ (28,131 ) Net deferred tax liabilities $ 1,489 $ (4,987 ) As of December 31, 2023, 2027. not 80% December 31, 2023, 2024. The Tax Cuts and Jobs Act (“TCJA”) requires taxpayers to capitalize and amortize research and experimental (“R&D”) expenditures for tax years beginning after December 31, 2021. December 31, 2022 December 31, 2023 2022, The Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not not During the year ended December 31, 2023, December 31, 2023 not not December 31, 2023. December 31, 2023, Undistributed earnings of certain of the Company’s foreign subsidiaries amounted to approximately $0.6 million at December 31, 2023. 100% not Effective 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, 2023 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State tax expense, net of federal benefit 3.2 % 1.4 % (3.2 %) Stock compensation (0.5 %) (4.7 %) 22.3 % Section 162(m) limitation (1.0 %) (8.2 %) 8.7 % Change in fair value of contingent consideration - % - % (36.7 %) Change in tax rates and state apportionment - % 1.2 % (29.8 %) Federal, state and foreign tax credits 1.3 % 5.1 % (28.4 %) Valuation allowance (21.2 %) - % (35.3 %) Return to provision adjustments 0.2 % 5.0 % - % Other permanent items 0.1 % (0.1 %) 11.0 % Effective income tax rate 3.1 % 20.7 % (70.4 %) Accounting for Uncertainty in Income Taxes The Company had no unrecognized tax benefits for the years ended December 31, 2023 2022, not twelve December 31, 2023. In the normal course of business, Anika and its subsidiaries may no 2019.

Note 16 - Earnings Per Share ("

Note 16 - Earnings Per Share ("EPS")	12 Months Ended
Note 16 - Earnings Per Share ("EPS")	Dec. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	16. EPS ) Basic EPS is calculated by dividing net income (loss) by the weighted average number of shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not The following table provides share information used in the calculation of the Company's basic and diluted EPS (in thousands): Years Ended December 31, 2023 2022 2021 Shares used in the calculation of basic EPS 14,656 14,561 14,401 Effect of dilutive securities: Share based awards - - 233 Diluted shares used in the calculation of EPS 14,656 14,561 14,634 Stock options of 1.1 million shares were outstanding for the year ended December 31, 2021 not December 31, 2023 2022,

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		ITEM 9B. Rule 10b5 1 During the fiscal quarter ended December 31, 2023, none 10b5 1 10b5 1
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2023
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 (“US GAAP”) 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 $0.5 million, ($0.7) million, and ($1.2) million for the years ended December 31, 2023, 2022, 2021, 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 ($0.1) million, ($0.5) million, and ($0.4) million during the years ended December 31, 2023, 2022, 2021,
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	Accounts Receivable The Company estimates an allowance for credit losses with its accounts receivable 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, management specifically analyzes individual accounts receivable, historical bad debts, customer concentrations, customer creditworthiness, current and reasonable and supportable forecasts of future economic conditions, accounts receivable aging trends, and changes in the Company’s customer payment terms. The components of the Company’s accounts receivables are as follows: As of December 31, 2023 2022 Accounts Receivable $ 37,580 $ 36,235 Less: Allowance for credit losses 1,619 1,608 Net balance, end of the year $ 35,961 $ 34,627 A summary of activity in the allowance for credit losses is as follows: As of December 31, 2023 2022 2021 Balance, beginning of the year $ 1,608 $ 1,442 $ 1,523 Amounts provided 508 554 156 Amounts recovered (318 ) (180 ) (92 ) Amounts written off (153 ) (158 ) (73 ) Translation adjustments (26 ) (50 ) (72 ) Balance, end of the year $ 1,619 $ 1,608 $ 1,442
Revenue [Policy Text Block]	Revenue Recognition Pursuant to Accounting Standard Codification 606, Revenue from Contracts with Customers 606” five
Revenue from Contract with Customer [Policy Text Block]	Revenue The Company generates sales principally through three For commercial partnership sales, the Company sells its products directly to these partners, who perform most of the downstream sales and marketing activities to customers and end-users. These arrangements may December 31, 2023, 2022 2021 2016 no may not not For sales to hospitals and ASCs, which generally pairs in-house sales representatives with local or regional distributors, the inventory is generally consigned so that products are available when needed for surgical procedures. No For distributor sales, the Company sells its products principally to 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 international 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 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 2023, 2022 2021, not The Company receives payments from its customers based on billing schedules established in each contract. Any up-front payments and fees are recorded as deferred revenue upon receipt or when due and may December 31, 2023 2022, Generally, customer contracts contain Free on Board (“FOB”) or Ex-Works 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 The Company may three one one December 31, 2023 December 31, 2022. Investments are subject to a periodic impairment review. For available-for-sale debt securities in an unrealized loss position, the Company first not Any impairment that has not During the years ended December 31, 2023, 2022 2021, not not not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk The Company has no three 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. As of December 31, 2023 2022, No 10%
Inventory, Policy [Policy Text Block]	Inventories Inventories are primarily stated at the lower of standard cost and net realizable value, with cost determined using the first first 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 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 (in years) 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 assets are stated at cost, which includes the cost of construction and other direct costs attributable to the construction. Construction-in-process assets are 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 U.S. 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 The Company performed a quantitative annual assessment for impairment of the remaining goodwill with respect to legacy Anika reporting unit as of November 30, 2023, not not not November 30, 2023. To conduct impairment tests of IPR&D, the fair value of the IPR&D project is compared to its carrying value. If the carrying value exceeds its fair value, the Company records an impairment loss to the extent that the carrying value of the IPR&D project exceeds its fair value. The Company estimates the fair value for IPR&D using the income approach, which is based on the Multi-Period Excess Earnings Method (“MPEEM”). MPEEM measures economic benefit indirectly by calculating the income attributable to an asset after appropriate returns are paid to complementary assets used in conjunction with the subject asset to produce the earnings associated with the subject asset, commonly referred to as contributory asset charges. This approach incorporates significant estimates and assumptions related to the forecasted results including revenues, expenses, expected economic life of the asset, contributory asset charges and discount rates to estimate future cash flows.
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 December 31, 2023, 6 In determining the useful lives of intangible assets, the Company considers 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, the Company considers 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. Non-Recurring Fair Value Measurement In measuring the impairment of intangible assets, the fair value of the Company's developed technology, customer relationship and tradename definite lived intangible assets within the Parcus and Arthrosurface reporting unit are classified within Level 3 6
Research and Development Expense, Policy [Policy Text Block]	Research and Development Research and development costs consist primarily of salaries and related expenses for personnel, clinical trial expenses 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 We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets, or DTAs, and deferred tax liabilities, or DTLs, for the expected future tax consequences of events that have been included in the financial statements. Under this method, we determine DTAs and DTLs based on the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in income in the period that includes the enactment date. We recognize DTAs to the extent that we believe that these assets are more likely than not We record uncertain tax positions in accordance with ASC 740, Income Taxes two 1 not 2 not 50
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 as of December 31, 2023. 280, Segment Reportin one
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 Issued Accounting Pronouncements No

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	As of December 31, 2023 2022 Accounts Receivable $ 37,580 $ 36,235 Less: Allowance for credit losses 1,619 1,608 Net balance, end of the year $ 35,961 $ 34,627 As of December 31, 2023 2022 2021 Balance, beginning of the year $ 1,608 $ 1,442 $ 1,523 Amounts provided 508 554 156 Amounts recovered (318 ) (180 ) (92 ) Amounts written off (153 ) (158 ) (73 ) Translation adjustments (26 ) (50 ) (72 ) Balance, end of the year $ 1,619 $ 1,608 $ 1,442
Property, Plant and Equipment Estimated Useful Lives [Table Text Block]	Asset Estimated useful life (in years) 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 - Fair Value Measureme_2

Note 3 - Fair Value Measurements (Tables)	12 Months Ended
Note 3 - Fair Value Measurements (Tables)	Dec. 31, 2023
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, 2023 (Level 1) (Level 2) (Level 3) Amortized Cost Cash equivalents: Money Market Funds $ 55,485 $ 55,485 $ - $ - $ 55,485 Active Markets Significant Other Significant for Identical Assets Observable Inputs Unobservable Inputs December 31, 2022 (Level 1) (Level 2) (Level 3) Amortized Cost Cash equivalents: Money Market Funds $ 67,801 $ 67,801 $ - $ - $ 67,801

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	12 Months Ended
Note 4 - Inventories (Tables)	Dec. 31, 2023
Notes Tables
Schedule of Inventory, Current [Table Text Block]	As of December 31, 2023 2022 Raw materials $ 15,507 $ 20,535 Work-in-process 17,002 10,648 Finished goods 32,084 25,306 Total $ 64,593 $ 56,489 Inventories $ 46,386 $ 39,765 Other long-term assets 18,207 16,724 Total $ 64,593 $ 56,489

Note 5 - Property and Equipme_2

Note 5 - Property and Equipment (Tables)	12 Months Ended
Note 5 - Property and Equipment (Tables)	Dec. 31, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 2023 2022 Equipment and software $ 52,278 $ 52,112 Furniture and fixtures 1,884 2,413 Leasehold improvements 34,975 34,916 Construction in progress 4,730 5,021 Subtotal 93,867 94,462 Less accumulated depreciation (47,669 ) (46,183 ) Total $ 46,198 $ 48,279

Note 6 - Acquired Intangible _2

Note 6 - Acquired Intangible Assets, Net (Tables)	12 Months Ended
Note 6 - Acquired Intangible Assets, Net (Tables)	Dec. 31, 2023
Notes Tables
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block]	Year Ended December 31, 2023 Gross Cost Less: Accumulated Currency Translation Adjustment Less: Current Period Impairment Charge Less: Accumulated Amortization Net Book Value Weighted Average Useful Life (in Years) Developed technology $ 89,580 $ (1,608 ) $ (56,518 ) $ (29,481 ) $ 1,973 15 IPR&D 2,656 (1,006 ) - - 1,650 Indefinite Customer relationships 9,000 - (5,113 ) (3,527 ) 360 10 Distributor relationships 4,700 (415 ) - (4,285 ) - 5 Patents 1,000 (189 ) - (728 ) 83 16 Tradenames 5,200 - (559 ) (4,081 ) 560 5 Total $ 112,136 $ (3,218 ) $ (62,190 ) $ (42,102 ) $ 4,626 13 Year Ended December 31, 2022 Gross Cost Less: Accumulated Currency Translation Adjustment Less: Current Period Impairment Charge Less: Accumulated Amortization Net Book Value Weighted Average Useful Life Developed technology $ 89,580 $ (1,608 ) $ - $ (23,686 ) $ 64,286 15 IPR&D 2,656 (1,006 ) - - 1,650 Indefinite Customer relationships 9,000 - - (2,627 ) 6,373 10 Distributor relationships 4,700 (415 ) - (4,285 ) - 5 Patents 1,000 (189 ) - (680 ) 131 16 Tradenames 5,200 - - (3,041 ) 2,159 5 Total $ 112,136 $ (3,218 ) $ - $ (34,319 ) $ 74,599 13

Note 7 - Goodwill (Tables)

Note 7 - Goodwill (Tables)	12 Months Ended
Note 7 - Goodwill (Tables)	Dec. 31, 2023
Notes Tables
Schedule of Goodwill [Table Text Block]	As of December 31, 2023 2022 Balance, beginning January 1 $ 7,339 $ 7,781 Effect of foreign currency adjustments 232 (442 ) Balance, ending December 31 $ 7,571 $ 7,339

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	12 Months Ended
Note 8 - Leases (Tables)	Dec. 31, 2023
Notes Tables
Lease, Cost [Table Text Block]	Years Ended December 31 2023 2022 2021 Finance lease amortization of right-of-use assets $ - $ 121 $ 143 Interest on finance lease liabilities - 11 19 Finance lease expense - 132 162 Operating lease expense 3,320 2,839 2,468 Short-term lease expense - 17 2 Variable lease expense 425 413 319 Total lease expense $ 3,745 $ 3,401 $ 2,951 Years Ended December 31 2023 2022 Weighted Average Remaining Lease Term (in years) Operating leases 13.9 14.8 Weighted Average Discount Rate Operating leases 3.6 % 3.6 % Other information Operating cash flows from operating leases $ 3,239 $ 2,471
Lessee, Operating Lease and Finance Lease, Liability, Maturity [Table Text Block]	Years ended December 31, Operating Leases 2024 $ 3,131 2025 3,142 2026 2,837 2027 2,643 2028 2,329 Thereafter 22,901 Present value adjustment (7,946 ) Present value of lease payments 29,037 Less current portion included in accrued expenses and other current liabilities (2,133 ) Total lease liabilities $ 26,904

Note 9 - Accrued Expenses (Tabl

Note 9 - Accrued Expenses (Tables)	12 Months Ended
Note 9 - Accrued Expenses (Tables)	Dec. 31, 2023
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	As of December 31, 2023 2022 Compensation and related expenses $ 11,828 $ 11,303 Professional fees 3,240 3,145 Operating lease liability- current 2,133 2,073 Discontinuation of software development project 1,904 - Income taxes payable 1,240 810 Clinical trial costs 460 999 Other 394 510 Total $ 21,199 $ 18,840

Note 12 - Revenue and Geograp_2

Note 12 - Revenue and Geographic Information (Tables)	12 Months Ended
Note 12 - Revenue and Geographic Information (Tables)	Dec. 31, 2023
Notes Tables
Revenue from External Customers by Products and Services [Table Text Block]	Years Ended December 31, 2023 2022 2021 Revenue Percentage of Revenue Percentage of Revenue Percentage of OA Pain Management $ 101,927 61 % $ 91,984 59 % $ 85,084 58 % Joint Preservation and Restoration 54,879 33 % 50,402 32 % 48,588 33 % Non-Orthopedic 9,856 6 % 13,850 9 % 14,122 9 % Total $ 166,662 100 % $ 156,236 100 % $ 147,794 100 %
Schedule of Revenue and Operating Income by Geographical Areas [Table Text Block]	Years Ended December 31, 2023 2022 2021 Total Percentage of Total Percentage of Total Percentage of Revenue Revenue Revenue Revenue Revenue Revenue Geographic Location: United States $ 123,129 74 % $ 119,151 76 % $ 113,833 77 % Europe 21,724 13 % 20,639 13 % 19,580 13 % Other 21,809 13 % 16,446 11 % 14,381 10 % Total $ 166,662 100 % $ 156,236 100 % $ 147,794 100 %
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	As of December 31, 2023 2022 United States $ 45,077 $ 47,068 Italy 1,075 1,211 United Kingdom 46 - Total $ 46,198 $ 48,279

Note 13 - Equity Incentive Pl_2

Note 13 - Equity Incentive Plan (Tables)	12 Months Ended
Note 13 - Equity Incentive Plan (Tables)	Dec. 31, 2023
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Years Ended December 31, 2023 2022 2021 Cost of revenue $ 646 $ 820 $ 716 Research and development 2,189 1,646 1,233 Selling, general and administrative 12,408 11,849 9,136 Total stock-based compensation expense $ 15,243 $ 14,315 $ 11,085
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding as of December 31, 2022 1,530,703 $ 34.93 Granted 404,903 $ 28.58 Exercised (2,034 ) $ 18.30 $ 20 Forfeited and canceled (120,843 ) $ 36.59 Outstanding as of December 31, 2023 1,812,729 $ 33.42 7.5 $ 127 Vested, December 31, 2023 983,834 $ 36.66 6.7 $ 5 Vested or expected to vest, December 31, 2023 1,812,729 $ 33.42 7.5 $ 127
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2023 2022 2021 Risk-free interest rate 3.52% - 4.64% 1.28% - 4.28% 0.29% - 1.00% Expected stock price volatility 48.19% - 49.44% 53.80% - 55.55% 54.80% - 56.35% Expected life of options (in years) 4.5 4.5 4.0 Expected dividend yield 0.0% 0.0% 0.0% Fair value per option 11.45 11.45 14.80
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Number of Shares Weighted Average Fair Value Outstanding as of December 31, 2022 $ 675,405 $ 28.40 Granted 442,762 $ 26.66 Vested (261,939 ) $ 29.44 Forfeited and cancelled (84,870 ) $ 27.11 Outstanding as of December 31, 2023 $ 771,358 $ 27.19
Schedule of Nonvested Performance-Based Units Activity [Table Text Block]	Number of Shares Weighted Average Fair Value Outstanding as of December 31, 2022 117,897 $ 34,98 Granted - $ - Vested - $ - Forfeited and cancelled (117,897 ) $ 34.98 Outstanding as of December 31, 2023 - $ -

Note 15 - Income Taxes (Tables)

Note 15 - Income Taxes (Tables)	12 Months Ended
Note 15 - Income Taxes (Tables)	Dec. 31, 2023
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Years ended December 31, 2023 2022 2021 (Loss) income before income taxes Domestic $ (86,061 ) $ (19,080 ) $ (2,529 ) Foreign 734 334 4,956 $ (85,327 ) $ (18,746 ) $ 2,427 Years ended December 31, 2023 2022 2021 Provision for (benefit from) income taxes: Current: Federal $ 3,153 $ 1,005 $ 494 State 309 285 (635 ) Foreign 312 96 167 Total current 3,774 1,386 26 Deferred: Federal (5,045 ) (3,243 ) (553 ) State (1,418 ) (1,256 ) (426 ) Foreign 29 (774 ) (754 ) Total deferred (6,434 ) (5,273 ) (1,733 ) Total benefit from income taxes $ (2,660 ) $ (3,887 ) $ (1,707 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2023 2022 Deferred tax assets: Capitalized research expenditures $ 11,266 $ 5,451 Lease liability 7,082 7,468 Acquisition-related intangible asset 5,040 - Stock-based compensation expense 3,881 2,795 Inventory reserves 3,552 2,763 Compensation accrual 1,685 1,635 Net operating loss carry forwards 1,161 1,551 Accrued expenses 947 519 Tax credits 515 741 Foreign currency exchange 121 221 Gross deferred tax assets 35,250 23,144 Less: Valuation allowance (18,062 ) - Deferred tax assets $ 17,188 $ 23,144 December 31, 2023 2022 Deferred tax liabilities: Acquisition-related intangible asset $ (288 ) $ (12,075 ) Depreciation (8,567 ) (8,804 ) Right of use asset (6,844 ) (7,252 ) Deferred tax liabilities $ (15,699 ) $ (28,131 ) Net deferred tax liabilities $ 1,489 $ (4,987 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years ended December 31, 2023 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State tax expense, net of federal benefit 3.2 % 1.4 % (3.2 %) Stock compensation (0.5 %) (4.7 %) 22.3 % Section 162(m) limitation (1.0 %) (8.2 %) 8.7 % Change in fair value of contingent consideration - % - % (36.7 %) Change in tax rates and state apportionment - % 1.2 % (29.8 %) Federal, state and foreign tax credits 1.3 % 5.1 % (28.4 %) Valuation allowance (21.2 %) - % (35.3 %) Return to provision adjustments 0.2 % 5.0 % - % Other permanent items 0.1 % (0.1 %) 11.0 % Effective income tax rate 3.1 % 20.7 % (70.4 %)

Note 16 - Earnings Per Share _2

Note 16 - Earnings Per Share ("EPS") (Tables)	12 Months Ended
Note 16 - Earnings Per Share ("EPS") (Tables)	Dec. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Years Ended December 31, 2023 2022 2021 Shares used in the calculation of basic EPS 14,656 14,561 14,401 Effect of dilutive securities: Share based awards - - 233 Diluted shares used in the calculation of EPS 14,656 14,561 14,634

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands	11 Months Ended	12 Months Ended
	Nov. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Total		$ (500)	$ (700)	$ (1,200)
Foreign Currency Transaction Gain (Loss), before Tax, Total		100	(500)	$ (400)
Contract with Customer, Liability, Total		0	0
Debt Securities, Available-for-Sale, Noncurrent		$ 0	$ 0
Number of Reporting Units		2
Goodwill, Impairment Loss	$ 0
Number of Operating Segments		1
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)		5 years
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)		16 years
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| DePuy Mitek Inc [Member]
Concentration Risk, Percentage		45%	43%	45%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| DePuy Mitek Inc [Member]
Concentration Risk, Percentage		46%	47%

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable	$ 37,580	$ 36,235
Less: Allowance for credit losses	1,619	1,608
Net balance, end of the year	35,961	34,627
Balance, beginning of the year	1,608	1,442	$ 1,523
Amounts provided	508	554	156
Amounts recovered	(318)	(180)	(92)
Amounts written off	(153)	(158)	(73)
Translation adjustments	(26)	(50)	(72)
Balance, end of the year	$ 1,619	$ 1,608	$ 1,442

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	Dec. 31, 2023
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 - Fair Value Measureme_3

Note 3 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale	$ 0	$ 0

Note 3 - Fair Value Measureme_4

Note 3 - Fair Value Measurements - Fair Value of Financial Instruments (Details) - Money Market Funds [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Estimate of Fair Value Measurement [Member]
Cash equivalents	$ 55,485	$ 67,801
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Cash equivalents	55,485	67,801
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Cash equivalents	0	0
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Cash equivalents	0	0
Reported Value Measurement [Member]
Cash equivalents	$ 55,485	$ 67,801

Note 4 - Inventories (Details T

Note 4 - Inventories (Details Textual) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory Valuation Reserves	$ 11.7	$ 9.9

Note 4 - Inventories - Summary

Note 4 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Raw materials	$ 15,507	$ 20,535
Work-in-process	17,002	10,648
Finished goods	32,084	25,306
Total	64,593	56,489
Inventories	46,386	39,765
Other long-term assets	$ 18,207	$ 16,724

Note 5 - Property and Equipme_3

Note 5 - Property and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Depreciation, Total	$ 6.4	$ 6.7	$ 6.5

Note 5 - Property and Equipme_4

Note 5 - Property and Equipment - Property and Equipment at Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, plant and equipment, gross	$ 93,867	$ 94,462
Less accumulated depreciation	(47,669)	(46,183)
Total	46,198	48,279
Equipment and Software [Member]
Property, plant and equipment, gross	52,278	52,112
Furniture and Fixtures [Member]
Property, plant and equipment, gross	1,884	2,413
Leasehold Improvements [Member]
Property, plant and equipment, gross	34,975	34,916
Construction in Progress [Member]
Property, plant and equipment, gross	$ 4,730	$ 5,021

Note 6 - Acquired Intangible _3

Note 6 - Acquired Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amortization of Intangible Assets, Total	$ 7,800	$ 7,800	$ 7,800
Impairment of Intangible Assets, Finite-Lived	62,190	$ 0	$ 600
Parcus Medical and Arthrosurface [Member]
Impairment of Intangible Assets, Finite-Lived	$ 62,200

Note 6 - Acquired Intangible _4

Note 6 - Acquired Intangible Assets, Net - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gross value	$ 112,136	$ 112,136
Accumulated Currency Translation Adjustment	(3,218)	(3,218)
Current period impairment charge	(62,190)	0	$ (600)
Accumulated Amortization	(42,102)	(34,319)
Net book value	$ 4,626	$ 74,599
Useful life (Year)	13 years	13 years
Developed Technology Rights [Member]
Gross value	$ 89,580	$ 89,580
Accumulated Currency Translation Adjustment	(1,608)	(1,608)
Current period impairment charge	(56,518)	0
Accumulated Amortization	(29,481)	(23,686)
Net book value	$ 1,973	$ 64,286
Useful life (Year)	15 years	15 years
In Process Research and Development [Member]
Gross value	$ 2,656	$ 2,656
Accumulated Currency Translation Adjustment	(1,006)	(1,006)
Current period impairment charge	0	0
Accumulated Amortization	0	0
Net book value	1,650	1,650
Customer Relationships [Member]
Gross value	9,000	9,000
Accumulated Currency Translation Adjustment	0	0
Current period impairment charge	(5,113)	0
Accumulated Amortization	(3,527)	(2,627)
Net book value	$ 360	$ 6,373
Useful life (Year)	10 years	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	(189)	(189)
Current period impairment charge	0	0
Accumulated Amortization	(728)	(680)
Net book value	$ 83	$ 131
Useful life (Year)	16 years	16 years
Trade Names [Member]
Gross value	$ 5,200	$ 5,200
Accumulated Currency Translation Adjustment	0	0
Current period impairment charge	(559)	0
Accumulated Amortization	(4,081)	(3,041)
Net book value	$ 560	$ 2,159
Useful life (Year)	5 years	5 years

Note 7 - Goodwill - Changes in

Note 7 - Goodwill - Changes in the Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Balance	$ 7,339	$ 7,781
Effect of foreign currency adjustments	232	(442)
Balance	$ 7,571	$ 7,339

Note 8 - Leases (Details Textua

Note 8 - Leases (Details Textual)	Dec. 31, 2023	Dec. 31, 2022
Operating Lease, Weighted Average Discount Rate, Percent	3.60%	3.60%

Note 8 - Leases - Lease Expense

Note 8 - Leases - Lease Expense and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finance lease amortization of right-of-use assets	$ 0	$ 121	$ 143
Interest on finance lease liabilities	0	11	19
Finance lease expense	0	132	162
Operating lease expense	3,320	2,839	2,468
Short-term lease expense	0	17	2
Variable lease expense	425	413	319
Total lease expense	$ 3,745	$ 3,401	$ 2,951
Operating leases (Year)	13 years 10 months 24 days	14 years 9 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	3.60%	3.60%
Right-of-use assets obtained in exchange for operating lease liabilities	$ 3,239	$ 2,471

Note 8 - Leases - Future Minimu

Note 8 - Leases - Future Minimum Rental Payments for Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
2024, operating leases	$ 3,131
2025, operating leases	3,142
2026, operating leases	2,837
2027, operating leases	2,643
2028, operating leases	2,329
Thereafter	22,901
Present value adjustment, operating leases	(7,946)
Total lease liabilities	26,904	$ 28,817
Liabilities [Member]
Operating lease liability	29,037
Accrued Expenses and Other Current Liabilities [Member]
Less current portion included in Accrued expenses and other current liabilities, operating leases	$ (2,133)	$ (2,073)

Note 9 - Accrued Expenses - Sum

Note 9 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Compensation and related expenses	$ 11,828	$ 11,303
Professional fees	3,240	3,145
Discontinuation of software development project	1,904	0
Income taxes payable	1,240	810
Clinical trial costs	460	999
Other	394	510
Total	21,199	18,840
Accrued Expenses and Other Current Liabilities [Member]
Operating lease liability- current	$ 2,133	$ 2,073

Note 10 - Revolving Credit Ag_2

Note 10 - Revolving Credit Agreement (Details Textual) - Revolving Credit Facility [Member] - USD ($) $ in Thousands	Nov. 12, 2021	Dec. 31, 2023	Dec. 31, 2022
Line of Credit Facility, Current Borrowing Capacity	$ 75,000
Line of Credit Facility, Additional Borrowing Capacity	75,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 150,000
Debt Instrument, Term (Year)	5 years
Long-Term Line of Credit, Total		$ 0	$ 0
Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.20%
Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.30%

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Standard and Extended Product Warranty Accrual, Ending Balance	$ 0	$ 0

Note 12 - Revenue and Geograp_3

Note 12 - Revenue and Geographic Information (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer, Excluding Assessed Tax	$ 166,662	$ 156,236	$ 147,794
Revenues From Agreements as Percent of Total Revenue	45%	43%	45%
OA Pain Management [member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 101,927	$ 91,984	$ 85,084
Veterinary [Member] \| OA Pain Management [member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 4,200	$ 5,900	$ 4,400

Note 12 - Revenue and Geograp_4

Note 12 - Revenue and Geographic Information - Disaggregated Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue	$ 166,662	$ 156,236	$ 147,794
Percent of revenue	100%	100%	100%
OA Pain Management [member]
Revenue	$ 101,927	$ 91,984	$ 85,084
Percent of revenue	61%	59%	58%
Joint Preservation and Restoration [Member]
Revenue	$ 54,879	$ 50,402	$ 48,588
Percent of revenue	33%	32%	33%
Non-Orthopedic [Member]
Revenue	$ 9,856	$ 13,850	$ 14,122
Percent of revenue	6%	9%	9%

Note 12 - Revenue and Geograp_5

Note 12 - Revenue and Geographic Information - Total Revenue by Geographic Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue	$ 166,662	$ 156,236	$ 147,794
Percent of revenue	100%	100%	100%
UNITED STATES
Revenue	$ 123,129	$ 119,151	$ 113,833
Percent of revenue	74%	76%	77%
Europe [Member]
Revenue	$ 21,724	$ 20,639	$ 19,580
Percent of revenue	13%	13%	13%
Other Location [Member]
Revenue	$ 21,809	$ 16,446	$ 14,381
Percent of revenue	13%	11%	10%

Note 12 - Revenue and Geograp_6

Note 12 - Revenue and Geographic Information - Net Tangible Long-lived Assets by Principal Geographic Areas (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property and equipment, net	$ 46,198	$ 48,279
UNITED STATES
Property and equipment, net	45,077	47,068
ITALY
Property and equipment, net	1,075	1,211
UNITED KINGDOM
Property and equipment, net	$ 46	$ 0

Note 13 - Equity Incentive Pl_3

Note 13 - Equity Incentive Plan (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 04, 2021	Dec. 31, 2019	Jun. 13, 2017
Share-Based Payment Arrangement, Expense, Tax Benefit	$ 2,600	$ 1,100
Effective Income Tax Rate Reconciliation, Share-based Compensation, Windfall Tax Benefit, Amount	(100)	$ (500)	$ 100
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 20		$ 300
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	404,903
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 5,900
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 8 months 12 days
Premium-Priced Employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Premium Priced Options, Exercise Price as Percentage of Market Price	110%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	323,993
Share-Based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 11,900
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 8 months 12 days
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)	$ 26.66	$ 25.14	$ 35.88
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 6,900	$ 6,000	$ 3,700
Performance Shares [Member]
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)		$ 32.53
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 600
Performance Shares [Member] \| Granted in 2019 [Member]
Share-based Compensation, Performance Shares Measured by Business Targets					30%
Share-based Compensation, Performance Shares Measured by Financial Targets		55%
Share-based Compensation, Performance Shares Measured by Financial Targets, Not Achieved		15%
Performance Shares [Member] \| Granted in 2020 [Member]
Share-based Compensation, Performance Shares Measured by Financial Targets, Not Achieved		60%
Share-based Compensation, Performance Shares Measured by Business Targets, Not Achieved		20%	20%
Minimum [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Minimum [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Maximum [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	4 years
Maximum [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	4 years
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)						4,600,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	1,000,000
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
The 2021 Inducement Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	0.1
Common Stock, Capital Shares Reserved for Future Issuance (in shares)				125,000
The 2021 Inducement Plan [Member] \| December 2023 Amendment [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	125,000

Note 13 - Equity Incentive Pl_4

Note 13 - Equity Incentive Plan - Total Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock-based compensation expense	$ 15,243	$ 14,315	$ 11,085
Cost of Sales [Member]
Stock-based compensation expense	646	820	716
Research and Development Expense [Member]
Stock-based compensation expense	2,189	1,646	1,233
Selling, General and Administrative Expenses [Member]
Stock-based compensation expense	$ 12,408	$ 11,849	$ 9,136

Note 13 - Equity Incentive Pl_5

Note 13 - Equity Incentive Plan - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2021
Outstanding, shares (in shares)	1,530,703
Outstanding, Weighted Average Exercise (in dollars per share)	$ 34.93
Granted, shares (in shares)	404,903
Granted, Weighted Average Exercise Price (in dollars per share)	$ 28.58
Exercised, shares (in shares)	(2,034)
Exercised, Weighted Average Exercise Price (in dollars per share)	$ 18.3
Exercised, Aggregate Intrinsic Value	$ 20	$ 300
Forfeited and canceled, shares (in shares)	(120,843)
Forfeited and canceled, Weighted Average Exercise Price (in dollars per share)	$ 36.59
Outstanding, shares (in shares)	1,812,729
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 33.42
Outstanding, Weighted Average Remaining Contractual Term (Year)	7 years 6 months
Outstanding, Aggregate Intrinsic Value	$ 127
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares (in shares)	983,834
Vested, Weighted Average Exercise Price (in dollars per share)	$ 36.66
Vested, Weighted Average Remaining Contractual Term (Year)	6 years 8 months 12 days
Vested, Aggregate Intrinsic Value	$ 5
Vested and expected to vest, shares (in shares)	1,812,729
Vested and expected to vest, Weighted Average Exercise Price (in dollars per share)	$ 33.42
Vested and expected to vest, Weighted Average Remaining Contractual Term (Year)	7 years 6 months
Vested and expected to vest, Aggregate Intrinsic Value	$ 127

Note 13 - Equity Incentive Pl_6

Note 13 - Equity Incentive Plan - Assumptions Used to Estimate Fair Value of Stock Options and Stock Appreciation Rights (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Expected stock price volatility	4.50%	4.50%	4%
Expected dividend yield	0%	0%	0%
Fair value per option (in dollars per share)	$ 11.45	$ 11.45	$ 14.8
Minimum [Member]
Risk-free interest rate	3.52%	1.28%	0.29%
Expected stock price volatility	48.19%	53.80%	54.80%
Maximum [Member]
Risk-free interest rate	4.64%	4.28%	1%
Expected stock price volatility	49.44%	55.55%	56.35%

Note 13 - Equity Incentive Pl_7

Note 13 - Equity Incentive Plan - Restricted Stock Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Outstanding, shares (in shares)	675,405
Outstanding, weighted average grant date fair value (in dollars per share)	$ 28.4
Granted (in shares)	442,762
Granted, weighted average grant date fair value (in dollars per share)	$ 26.66	$ 25.14	$ 35.88
Vested (in shares)	(261,939)
Vested, weighted average grant date fair value (in dollars per share)	$ 29.44
Forfeited and cancelled, shares (in shares)	(84,870)
Forfeited and cancelled, weighted average grant date fair value (in dollars per share)	$ (27.11)
Outstanding, shares (in shares)	771,358	675,405
Outstanding, weighted average grant date fair value (in dollars per share)	$ 27.19	$ 28.4

Note 13 - Equity Incentive Pl_8

Note 13 - Equity Incentive Plan - Performance Stock Units (Details) - Performance Shares [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Outstanding, shares (in shares)	117,897
Outstanding, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 3,498
Granted (in shares)	0
Vested, shares (in shares)	0
Forfeited and cancelled, shares (in shares)	(117,897)
Forfeited and cancelled, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 34.98
Outstanding, shares (in shares)	0
Outstanding, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 0

Note 14 - Employee Benefit Pl_2

Note 14 - Employee Benefit Plan (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	140%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	5%
Defined Contribution Plan, Employer Matching Contribution, Amount		$ 2.3	$ 2

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-Based Payment Arrangement, Amount	$ 700
Capitalized Costs, Research and Development	$ 22,900	$ 23,400
Finite-Lived Intangible Asset, Useful Life (Year)	13 years	13 years
Unrecognized Tax Benefits, Ending Balance	$ 0	$ 0
Open Tax Year	2019 2020 2021 2022 2023
Domestic Tax Authority [Member] \| In Process Research and Development [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	5 years
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards	$ 0
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	18,100
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member] \| Research Tax Credit Carryforward [Member]
Operating Loss Carryforwards	0
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	1,000
Foreign Tax Authority [Member]
Deferred Tax Liabilities, Undistributed Foreign Earnings	$ 600
Foreign Tax Authority [Member] \| In Process Research and Development [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	15 years
Foreign Tax Authority [Member] \| Ministry of Economic Affairs and Finance, Italy [Member]
Operating Loss Carryforwards	$ 4,700

Note 15 - Income Taxes - Compon

Note 15 - Income Taxes - Components of Income Before Taxes and Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Domestic	$ (86,061)	$ (19,080)	$ (2,529)
Foreign	734	334	4,956
(Loss) income before income taxes	(85,327)	(18,746)	2,427
Federal	3,153	1,005	494
State	309	285	(635)
Foreign	312	96	167
Total current	3,774	1,386	26
Federal	(5,045)	(3,243)	(553)
State	(1,418)	(1,256)	(426)
Foreign	29	(774)	(754)
Total deferred	(6,434)	(5,273)	(1,733)
Total benefit from income taxes	$ (2,660)	$ (3,887)	$ (1,707)

Note 15 - Income Taxes - Signif

Note 15 - Income Taxes - Significant Components of Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Capitalized research expenditures	$ 11,266	$ 5,451
Lease liability	7,082	7,468
Acquisition-related intangible asset	5,040	0
Stock-based compensation expense	3,881	2,795
Inventory reserves	3,552	2,763
Compensation accrual	1,685	1,635
Net operating loss carry forwards	1,161	1,551
Accrued expenses	947	519
Tax credits	515	741
Foreign currency exchange	121	221
Gross deferred tax assets	35,250	23,144
Less: Valuation allowance	(18,062)	0
Deferred tax assets	17,188	23,144
Acquisition-related intangible asset	(288)	(12,075)
Depreciation	(8,567)	(8,804)
Right of use asset	(6,844)	(7,252)
Deferred tax liabilities	(15,699)	(28,131)
Net deferred tax asset	$ 1,489
Net deferred tax liabilities		$ (4,987)

Note 15 - Income Taxes - Reconc

Note 15 - Income Taxes - Reconciliation Between U.S. Federal Statutory Rate and Effective Rate (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statutory federal income tax rate	21%	21%	21%
State tax expense, net of federal benefit	3.20%	1.40%	(3.20%)
Stock compensation	(0.50%)	(4.70%)	22.30%
Section 162(m) limitation	(1.00%)	(8.20%)	8.70%
Change in fair value of contingent consideration	0%	0%	(36.70%)
Change in tax rates and state apportionment	0%	1.20%	(29.80%)
Federal, state and foreign tax credits	1.30%	5.10%	(28.40%)
Valuation allowance	(21.20%)	0%	(35.30%)
Return to provision adjustments	0.20%	5%	0%
Other permanent items	0.10%	(0.10%)	11%
Effective income tax rate	3.10%	20.70%	(70.40%)

Note 16 - Earnings Per Share _3

Note 16 - Earnings Per Share ("EPS") (Details Textual) shares in Millions	12 Months Ended
	Dec. 31, 2021 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1.1

Note 16 - Earnings Per Share _4

Note 16 - Earnings Per Share ("EPS") - Basic and Diluted Earnings Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Basic (in shares)	14,656	14,561	14,401
Share based awards (in shares)	0	0	233
Diluted shares used in the calculation of EPS (in shares)	14,656	14,561	14,634