Kamada Ltd.'s Q4 2024: Unpacking Contradictions in Plasma Strategy, EBITDA Growth, and AAT Trial Timing
Wednesday, Mar 5, 2025 11:11 am ET
1min read These are the key contradictions discussed in Kamada Ltd.'s latest 2024Q4 earnings call, specifically including: Plasma Collection Business Strategy and EBITDA Expansion Drivers, Inhaled AAT Trial Update and Timeline, and Plasma Collection Strategy:
Record Financial Performance:
- Kamada Ltd. reported record total revenue of $161 million for the full year 2024, representing a 13% increase over 2023 revenues.
- The growth was driven by increased sales of KEDRAB and CYTOGAM, particularly in the U.S. market, and an improvement in the overall sales mix.
Increased Adjusted EBITDA:
- Kamada achieved a record adjusted EBITDA of $34.1 million for 2024, up 42% year-over-year.
- This was attributed to improvements in sales mix and increased profitability from KEDRAB and CYTOGAM sales.
Plasma Collection Expansion:
- Kamada opened its second plasma collection center in Houston, Texas, expected to contribute annual revenues of $8 million to $10 million when at full capacity.
- The expansion is part of a strategy to enhance specialty plasma collection and reduce reliance on external suppliers, improving operational efficiency.
Dividend Declaration:
- Kamada's Board of Directors declared a special cash dividend of $0.20 per share, to be payable in April.
- The decision was based on the company's strong financial performance and cash position, demonstrating confidence in its business prospects.
Inhaled AAT Product Trial Update:
- The U.S. FDA reduced the study sample size for Kamada's inhaled AAT product trial from 220 to approximately 180 patients, maintaining statistical power.
- A futility analysis is planned by the end of 2025, aiming to assess the potential success of the trial and inform future decisions.
Record Financial Performance:
- Kamada Ltd. reported record total revenue of $161 million for the full year 2024, representing a 13% increase over 2023 revenues.
- The growth was driven by increased sales of KEDRAB and CYTOGAM, particularly in the U.S. market, and an improvement in the overall sales mix.
Increased Adjusted EBITDA:
- Kamada achieved a record adjusted EBITDA of $34.1 million for 2024, up 42% year-over-year.
- This was attributed to improvements in sales mix and increased profitability from KEDRAB and CYTOGAM sales.
Plasma Collection Expansion:
- Kamada opened its second plasma collection center in Houston, Texas, expected to contribute annual revenues of $8 million to $10 million when at full capacity.
- The expansion is part of a strategy to enhance specialty plasma collection and reduce reliance on external suppliers, improving operational efficiency.
Dividend Declaration:
- Kamada's Board of Directors declared a special cash dividend of $0.20 per share, to be payable in April.
- The decision was based on the company's strong financial performance and cash position, demonstrating confidence in its business prospects.
Inhaled AAT Product Trial Update:
- The U.S. FDA reduced the study sample size for Kamada's inhaled AAT product trial from 220 to approximately 180 patients, maintaining statistical power.
- A futility analysis is planned by the end of 2025, aiming to assess the potential success of the trial and inform future decisions.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.