What is ADMA Biologics's gross profit margin?

What is the revenue and EPS growth rate for ADMA Biologics year over year?

What guidance did ADMA Biologics's management provide for the next earnings period?

What were the key takeaways from ADMA Biologics's earnings call?

Did ADMA Biologics beat or miss consensus estimates last quarter?

What factors drove the changes in ADMA Biologics's revenue and profit?

What were the key takeaways from ADMA Biologics’s earnings call?

What is the market's earnings forecast for ADMA Biologics next quarter?

- **Record Q3 Results**: $134.2M revenue (12% YoY), $36.4M net income, $58.7M EBITDA (29% YoY growth).
- **ASCENIV Clinical Success**: 50%+ infection reduction data to be published, driving 2026 payer expansion.
- **Yield-Enhanced Production**: 20%+ output increase, targeting 70%+ gross margin by 2026.
- **Updated Guidance**: 2026 revenue up to $630M+, 2029 target >$1.1B.
- **High-Growth Pipeline**: SG001 potential $300-$500M annual revenue by 2029.

**【CEO Summary Section】**
- ADMA reported total revenue of $134.2 million for Q3 2025, up 10% QoQ and 12% YoY, driven by ASCENIV's record utilization.
- GAAP net income reached $36.4 million (up 6% QoQ, 1% YoY), with adjusted EBITDA at $58.7 million (16% QoQ growth, 29% YoY).
- ASCENIV demonstrated a 50%+ reduction in infections (2.1 to 0.9 per year) in a retrospective study, with plans for peer-reviewed publication and 2026 clinical meeting presentations.
- FDA-approved yield-enhanced production batches increased per-batch output by 20%+, with full 2026 production expected to drive gross margin expansion.
- SG001 program submitted Priority Review Voucher application; preclinical data shows broader serotype coverage than existing vaccines, targeting a $300-$500M annual revenue opportunity by 2029.
- Share repurchases of $23M in Q3, with $225M undrawn revolver supporting capital deployment.

**【CFO Financial Commentary】**
- Q3 2025: 
  - Total revenue: $134.2M (10% QoQ, 12% YoY)
  - Gross margin: 56.3% (vs. 49.8% YoY), product-level margin 63.7% (excluding $13.8M plasma sale)
  - GAAP net income: $36.4M (1% YoY), adjusted EBITDA: $58.7M (29% YoY)
- Updated 2025 guidance: 
  - Revenue: $510M (vs. prior $500M+)
  - Adjusted net income: $158M (modestly adjusted due to higher tax rate)
  - Adjusted EBITDA: $235M
- 2026 outlook: 
  - Revenue: $630M+ (vs. prior $625M+)
  - Adjusted net income: $255M+ (vs. prior $245M+)
  - Adjusted EBITDA: $355M+ (vs. prior $340M+)
- 2029 target: >$1.1B annual revenue, excluding SG001 contribution.

**【Q&A Key Highlights】**
- **ASCENIV clinical data impact**: 50%+ infection reduction data expected to accelerate payer access and utilization, with 2026 medical education campaigns planned.
- **Yield-enhanced production**: FDA lot release completed, with full 2026 production expected to drive 70%+ gross margin potential.
- **Payer negotiations**: Positive progress on ASCENIV coverage, with 40%-45% of utilization through commercial payers.
- **SG001 timeline**: IND submission anticipated, with potential 2029 launch and $300-$500M annual revenue opportunity.
- **Revenue growth trajectory**: 24% YoY revenue growth in 2026, driven by ASCENIV mix shift and yield-enhanced production efficiency.

ADMA Biologics, Inc. (ADMA) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

ADMA

ADMA fundamentals

You can ask Aime