ADMA Biologics Announces Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update
ADMA Biologics reported exceptional financial results for FY 2024, with total revenue reaching $426.5 million, a 65% year-over-year increase. The company achieved a GAAP net income of $197.7 million, including an $84.3 million tax benefit. Adjusted EBITDA grew 309% to $164.6 million.
Key financial highlights include year-end cash position exceeding $103 million and $60 million of debt organically discharged in 2H 2024. The company provided increased guidance for FY 2025 and 2026, projecting revenues of over $490 million and $605 million respectively.
Strategic developments include securing long-term high-titer plasma supply contracts, expanding collection capacity 5-fold to approximately 250 centers. ADMA anticipates FDA approval of its yield enhancement production process by mid-2025, potentially increasing production yields by 20%. The company expects to achieve over $1 billion in annual revenue before 2030.
ADMA Biologics ha riportato risultati finanziari eccezionali per l'anno fiscale 2024, con un fatturato totale che ha raggiunto $426,5 milioni, un aumento del 65% rispetto all'anno precedente. L'azienda ha registrato un utile netto GAAP di $197,7 milioni, inclusi $84,3 milioni di benefici fiscali. EBITDA rettificato è cresciuto del 309% raggiungendo $164,6 milioni.
I principali punti salienti finanziari includono una posizione di cassa a fine anno superiore a $103 milioni e $60 milioni di debito estinto organicamente nel secondo semestre del 2024. L'azienda ha fornito una previsione migliorata per gli anni fiscali 2025 e 2026, prevedendo ricavi superiori a $490 milioni e $605 milioni rispettivamente.
Sviluppi strategici includono la stipula di contratti per la fornitura di plasma ad alta titolazione a lungo termine, espandendo la capacità di raccolta di cinque volte a circa 250 centri. ADMA prevede l'approvazione da parte della FDA del suo processo di miglioramento del rendimento produttivo entro metà del 2025, con un potenziale aumento dei rendimenti di produzione del 20%. L'azienda si aspetta di raggiungere oltre $1 miliardo di ricavi annuali entro il 2030.
ADMA Biologics reportó resultados financieros excepcionales para el año fiscal 2024, con ingresos totales alcanzando $426.5 millones, un aumento del 65% en comparación con el año anterior. La compañía logró un ingreso neto GAAP de $197.7 millones, incluyendo un beneficio fiscal de $84.3 millones. EBITDA ajustado creció un 309% hasta $164.6 millones.
Los aspectos financieros clave incluyen una posición de efectivo al final del año que supera los $103 millones y $60 millones de deuda cancelada orgánicamente en la segunda mitad de 2024. La compañía proporcionó una guía mejorada para los años fiscales 2025 y 2026, proyectando ingresos de más de $490 millones y $605 millones respectivamente.
Los desarrollos estratégicos incluyen la obtención de contratos a largo plazo para el suministro de plasma de alta concentración, expandiendo la capacidad de recolección cinco veces a aproximadamente 250 centros. ADMA anticipa la aprobación de la FDA de su proceso de mejora de rendimiento de producción para mediados de 2025, lo que podría aumentar los rendimientos de producción en un 20%. La compañía espera alcanzar más de $1 mil millones en ingresos anuales antes de 2030.
ADMA Biologics는 2024 회계연도에 대한 예외적인 재무 결과를 보고했으며, 총 수익은 $426.5 백만에 도달하여 전년 대비 65% 증가했습니다. 이 회사는 $197.7 백만의 GAAP 순이익을 달성했으며, 여기에는 $84.3 백만의 세금 혜택이 포함됩니다. 조정된 EBITDA는 309% 증가하여 $164.6 백만에 달했습니다.
주요 재무 하이라이트에는 연말 현금 보유액이 $103 백만을 초과하고, 2024년 하반기에 유기적으로 상환된 부채가 $60 백만이 포함됩니다. 이 회사는 2025년 및 2026년 회계연도에 대한 가이드를 늘려서 각각 $490 백만 및 $605 백만 이상의 수익을 전망하고 있습니다.
전략적 발전에는 장기 고농도 혈장 공급 계약 확보, 수집 용량을 5배로 확장하여 약 250개의 센터로 증가시키는 것이 포함됩니다. ADMA는 2025년 중반까지 생산 수율 향상 프로세스에 대한 FDA 승인을 예상하고 있으며, 이는 생산 수율을 20% 증가시킬 수 있습니다. 이 회사는 2030년 이전에 연간 $10억 이상의 수익을 달성할 것으로 기대하고 있습니다.
ADMA Biologics a rapporté des résultats financiers exceptionnels pour l'exercice 2024, avec un chiffre d'affaires total atteignant $426,5 millions, soit une augmentation de 65 % par rapport à l'année précédente. L'entreprise a réalisé un bénéfice net GAAP de $197,7 millions, incluant un avantage fiscal de $84,3 millions. EBITDA ajusté a augmenté de 309 % pour atteindre $164,6 millions.
Les points forts financiers incluent une position de trésorerie à la fin de l'année dépassant $103 millions et $60 millions de dettes remboursées de manière organique au second semestre 2024. L'entreprise a fourni des prévisions rehaussées pour les exercices 2025 et 2026, projetant des revenus de plus de $490 millions et $605 millions respectivement.
Les développements stratégiques incluent la sécurisation de contrats d'approvisionnement en plasma à haute concentration à long terme, augmentant la capacité de collecte par cinq pour atteindre environ 250 centres. ADMA anticipe l'approbation de la FDA de son processus d'amélioration de rendement de production d'ici mi-2025, ce qui pourrait augmenter les rendements de production de 20 %. L'entreprise s'attend à atteindre plus de $1 milliard de revenus annuels avant 2030.
ADMA Biologics berichtete über außergewöhnliche Finanzergebnisse für das Geschäftsjahr 2024, mit einem Gesamtumsatz von $426,5 Millionen, was einem Anstieg von 65% im Vergleich zum Vorjahr entspricht. Das Unternehmen erzielte einen GAAP-Nettoeinkommen von $197,7 Millionen, einschließlich eines Steuerbenefits von $84,3 Millionen. Bereinigtes EBITDA wuchs um 309% auf $164,6 Millionen.
Wichtige finanzielle Highlights umfassen eine Jahresend-Bargeldposition von über $103 Millionen und $60 Millionen an organisch abgebauter Schulden im zweiten Halbjahr 2024. Das Unternehmen gab eine erhöhte Prognose für die Geschäftsjahre 2025 und 2026 ab und erwartet Umsätze von über $490 Millionen bzw. $605 Millionen.
Strategische Entwicklungen umfassen die Sicherung langfristiger Verträge für hochkonzentrierte Plasmaspender, die die Sammlungskapazität um das Fünffache auf etwa 250 Zentren erweitern. ADMA erwartet die Genehmigung durch die FDA für seinen Produktionsprozess zur Ertragssteigerung bis Mitte 2025, was die Produktionsausbeute um 20% erhöhen könnte. Das Unternehmen rechnet damit, bis 2030 einen jährlichen Umsatz von über $1 Milliarde zu erreichen.
- Revenue grew 65% YoY to $426.5M in FY2024
- Net income of $197.7M in FY2024 vs loss in 2023
- Adjusted EBITDA increased 309% to $164.6M
- Cash position grew to $103M+ with $60M debt reduction
- 5-fold increase in plasma collection capacity
- Gross margin improved to 51.5% from 34.4%
- Strong guidance: $490M+ revenue for 2025, $605M+ for 2026
- Delayed 10-K filing due to internal control assessment
- Need for additional documentation of third-party service provider controls
- Audit procedures not yet completed by new auditor KPMG
Insights
ADMA Biologics has delivered exceptional financial results for 2024, showcasing remarkable transformation across all key metrics. Total revenue reached
The company's gross margin expansion from
ADMA has substantially strengthened its balance sheet, growing cash to over
The forward guidance is particularly compelling, with projected 2025 revenue exceeding
Two key developments further reinforce ADMA's growth trajectory: 1) Recently secured long-term plasma supply contracts that expand sourcing capacity five-fold, addressing a fundamental industry constraint; and 2) An anticipated mid-2025 FDA approval for their yield enhancement production process, which could increase production yields by approximately
FY 2024 Total Revenue of
FY 2024 GAAP Net Income of
FY 2024 Adjusted EBITDA(1) of
FY 2024 Adjusted Net Income(2) of
YE 2024 Total Cash Grew to More than
High-Titer Plasma Supply Contracts Expected to Provide Foundation for Durable ASCENIV Revenue Growth Through Late 2030s
FDA Approval of Yield Enhancement Production Process Anticipated by Mid-2025
FY 2025 and 2026 Total Revenue Guidance Increased to More than
FY 2025 and 2026 Adjusted Net Income Guidance Increased to More Than
FY 2025 and 2026 Adjusted EBITDA Guidance Increased to More Than
ADMA Anticipates Generating Greater Than
RAMSEY, N.J. and BOCA RATON, Fla., March 03, 2025 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics, today announced its fourth quarter and full year 2024 financial results and provided a business update.
“ADMA delivered exceptional operating and financial results in 2024, with total revenues and Adjusted EBITDA growing
Mr. Grossman concluded, “Looking ahead, these strengthened supply commitments are expected to position us to scale new ASCENIV patient starts, deepen penetration into the complex and refractive PI target market, and advance our R&D pipeline with confidence. We believe our strong balance sheet, growing net cash position, and robust intellectual property estate provides a solid foundation for long-term value creation. With a durable and diversified plasma supply, proprietary innovation, and a steadfast commitment to patient care, we are confident in our ability to drive sustained success, accelerating revenue and earnings growth while maintaining an uninterrupted drug supply for those who rely on our biologic therapies.”
Financial Guidance:
- FY 2025 and 2026 total revenue increased to more than
$490 million and$605 million , respectively - FY 2025 and 2026 Adjusted Net Income increased to more than
$175 million and$235 million , respectively - FY 2025 and 2026 Adjusted EBITDA increased to more than
$225 million and$305 million , respectively - Greater than
$1 billion of total annual revenue expected to be achieved prior to 2030, with anticipated outsized earnings growth from current margin levels
Recent Business Updates & 2025 Objectives:
- Record ASCENIV demand. Across all forward-looking demand metrics, ASCENIV trends continue to drive record highs into 2025 and, as a result, the Company expects ASCENIV’s total revenue share to expand throughout 2025 and beyond. As ASCENIV’s benefit in real-world patient outcomes continues and long-term high-titer plasma supply contracts ramp up, ADMA anticipates accelerating ASCENIV’s new patient starts and penetration in existing institutions, which would significantly expand its peak revenue potential beyond current levels.
- Anticipated mid-2025 regulatory approval of innovative yield enhancement production process. Following the year-end 2024 Prior Approval Supplement submission to the U.S. Food and Drug Administration (FDA), ongoing FDA interactions reinforce our confidence in timely potential approval by mid-year 2025. If approved, ADMA anticipates potential revenue and earnings accretion in the second half of 2025. This innovative process has demonstrated an ability to increase production yields by approximately
20% from the same starting plasma volume, potentially driving significant increases to the current financial guidance. - Executed high-titer plasma supply contracts on a long-term basis. ADMA’s recently executed third-party, high-titer plasma supply contracts are expected to significantly increase access to raw material plasma used to produce ASCENIV. These long-term agreements allow the Company to source high-titer plasma from approximately 250 collection centers, a 5-fold increase in total collection capacity. To date, the pace of procurement from these new contracts has been encouraging and, coupled with ADMA’s record internal plasma collections, we believe the Company is well-positioned to meet its revenue targets and potentially achieve greater than
$1 billion in total annual revenue prior to 2030, with additional potential growth opportunities thereafter. - Strengthened balance sheet and optimizing cost of capital. ADMA generated approximately
$48 million in operating cash flow in the fourth quarter of 2024, increasing year-end cash on hand to over$103 million . With this robust cash flow, and the$60 million in debt organically discharged during the second half of 2024, ADMA now holds a net cash surplus relative to the$75 million of total outstanding debt with Ares Capital. The Company anticipates further balance sheet improvements in 2025, driven by projected Adjusted EBITDA growth, sustained cash generation, and continued optimization of its capital structure. - Leveraging robust IP estate and innovative R&D engine. ADMA anticipates generating initial animal data for its lead R&D pipeline program, SG-001, targeting S. pneumonia. If approved, SG-001 represents potential upside to the current financial guidance, and ADMA believes the product has the potential to generate
$300 -500 million or more in high margin annual revenue, with IP protection through at least 2037. - Unique asset durability and terminal value. ASCENIV’s robust intellectual property estate, covering proprietary plasma screening assays, unique plasma pooling, and methods of immunoglobulin (IG) use, secures brand protection through at least 2035, with potential IP extensions beyond 2035. The Company is confident that regulatory barriers and proprietary know-how further safeguard ASCENIV’s branded growth, potentially well beyond 2035. This comprehensive IP portfolio, encompassing IG treatment for all viral-induced respiratory infections, supports ADMA’s expectation that ASCENIV is well-positioned to deliver long-term branded growth. We believe ASCENIV may generate one of the most durable earnings streams in the sector.
Form 10-K Filing Timing. The successful consolidation and reporting of ADMA’s financial results is an important milestone for the Company as ADMA’s financial profile continues to rapidly grow and improve. KPMG LLP (“KPMG”) was engaged by ADMA as the Company’s new independent registered public accounting firm in the fourth quarter of 2024. ADMA intends to file a Notification of Late Filing on Form 12b-25 (“Form 12b-25") with the U.S. Securities and Exchange Commission (SEC) to disclose that ADMA expects to file its Annual Report on Form 10-K for the year ended December 31, 2024 (“Form 10-K”) within the 15-day extension period provided by Rule 12b-25 under the Securities Exchange Act of 1934 (the “Exchange Act”) (i.e., on or before March 18, 2025). The delay in the filing of the Form 10-K is due to a combination of factors relating to the Company’s need for additional time to test and document the Company’s controls associated with its use of and reliance upon certain third-party service providers and to complete its assessment of the effectiveness of internal control over financial reporting as of December 31, 2024. As a result of the foregoing, KPMG has not yet completed its audit procedures.
Fourth Quarter 2024 Financial Results:
Total revenue was
Gross profit was
GAAP Net Income was
Adjusted EBITDA was
Adjusted Net Income was
Full Year 2024 Financial Results:
Total revenue was
Gross profit was
GAAP net income was
Adjusted Net Income was
Adjusted EBITDA was
At December 31, 2024, ADMA had working capital of
Conference Call Information:
To access the conference call, please dial (888) 596-4144 and refer to conference ID 5201334. It is recommended that you join approximately 10 minutes prior to the event start (although you may dial in at any time during the call). Attendees who will not be asking a question during the call are encouraged to listen in to the live webcast here. An archived replay of the event will be available located under “Events & Webcasts” in the investor section of the Company’s website at https://ir.admabiologics.com/events-webcasts.
About ADMA Biologics, Inc. (ADMA)
ADMA Biologics is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases. ADMA currently manufactures and markets three United States Food and Drug Administration (FDA)-approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: ASCENIV™ (immune globulin intravenous, human – slra
Use of Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures that are not prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The Company believes Adjusted EBITDA and Adjusted Net Income are useful to investors in evaluating the Company’s financial performance. The Company uses Adjusted EBITDA and Adjusted Net Income as key performance measures because we believe that they facilitate operating performance comparisons from period to period that exclude potential differences driven by the impact of variations of non-cash items such as depreciation and amortization, as well as, in the case of Adjusted EBITDA, stock-based compensation or certain non-recurring items, and in the case of Adjusted Net Income, certain non-recurring items. The Company believes that investors should have access to the same set of tools used by our management and board of directors to assess our operating performance. Adjusted EBITDA and Adjusted Net Income should not be considered as measures of financial performance under GAAP, and the items excluded from Adjusted EBITDA and Adjusted Net Income are significant components in understanding and assessing the Company’s financial performance. Accordingly, these key business metrics have limitations as an analytical tool. They should not be considered as an alternative to net income/loss, cash flows from operations, or any other performance measures derived in accordance with GAAP and may be different from similarly titled non-GAAP measures used by other companies. Please refer to the tables below for the reconciliation of GAAP measures to these non-GAAP measures for applicable periods.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about ADMA Biologics, Inc. (“we,” “our” or the “Company”). Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain such words as “confident,” “estimate,” “project,” “intend,” “forecast,” “target,” “anticipate,” “plan,” “planning,” “expect,” “believe,” “will,” “is likely,” “will likely,” “position us,” “should,” “could,” “would,” “may,” “potential,” “opportunity” or, in each case, their negative, or words or expressions of similar meaning. These forward-looking statements include, but are not limited to, statements about the Company’s financial performance; revenue, GAAP net income, Adjusted EBITDA, Adjusted Net Income and margins guidance in future periods and related timing in connection therewith; ASCENIV’s total revenue share and growth; our balance sheet; the benefits of newly executed high-titer plasma supply agreements and impact on ASCENIV growth and financial performance; the status of the yield enhancement production process submission and the anticipated impact of potential FDA approval on production yields and financial targets and related timing; ASCENIV revenue share and growth; ability to deliver stockholder value; our intention to file a Form 12b-25 with the SEC and file the Form 10-K within the 15-day extension period provided by Rule 12b-25 under the Exchange Act; statements regarding SG-001 and revenue potential; and ASCENIV’s intellectual property estate. Actual events or results may differ materially from those described in this press release due to a number of important factors. Current and prospective security holders are cautioned that there also can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Except to the extent required by applicable laws or rules, ADMA does not undertake any obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements. Forward-looking statements are subject to many risks, uncertainties and other factors that could cause our actual results, and the timing of certain events, to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, the risks and uncertainties described in our filings with the SEC, including our most recent reports on Form 10-K, 10-Q and 8-K, and any amendments thereto.
| (1) | Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Adjusted EBITDA to the most comparable GAAP measure, see the reconciliation included in the financial tables. |
| (2) | Adjusted Net Income is a non-GAAP financial measure. For a reconciliation of Adjusted Net Income to the most comparable GAAP measure, see the reconciliation included in the financial tables. All non-GAAP adjustments are presented pre-tax. |
INVESTOR RELATIONS CONTACT:
Argot Partners | 212-600-1902 | ADMA@argotpartners.com
| ADMA BIOLOGICS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS | |||||||
| December 31, | December 31, | ||||||
| 2024 | 2023 | ||||||
| (In thousands, except share data) | |||||||
| (Unaudited) | |||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 103,147 | $ | 51,352 | |||
| Accounts receivable, net | 49,999 | 27,421 | |||||
| Inventories | 170,235 | 172,906 | |||||
| Prepaid expenses and other current assets | 8,029 | 5,334 | |||||
| Total current assets | 331,410 | 257,013 | |||||
| Property and equipment, net | 54,707 | 53,835 | |||||
| Intangible assets, net | 460 | 499 | |||||
| Goodwill | 3,530 | 3,530 | |||||
| Deferred tax assets | 84,280 | - | |||||
| Right-of-use assets | 8,634 | 9,635 | |||||
| Deposits and other assets | 5,657 | 4,670 | |||||
| TOTAL ASSETS | $ | 488,678 | $ | 329,182 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 20,219 | $ | 15,660 | |||
| Accrued expenses and other current liabilities | 33,962 | 32,919 | |||||
| Current portion of deferred revenue | 143 | 182 | |||||
| Current portion of lease obligations | 1,218 | 1,045 | |||||
| Total current liabilities | 55,542 | 49,806 | |||||
| Senior notes payable, net of discount | 72,337 | 130,594 | |||||
| Deferred revenue, net of current portion | 1,547 | 1,690 | |||||
| End of term fee | 1,313 | 1,688 | |||||
| Lease obligations, net of current portion | 8,561 | 9,779 | |||||
| Other non-current liabilities | 360 | 419 | |||||
| TOTAL LIABILITIES | 139,660 | 193,976 | |||||
| COMMITMENTS AND CONTINGENCIES | |||||||
| STOCKHOLDERS' EQUITY | |||||||
| Preferred Stock, | - | - | |||||
| Common Stock - voting, | 24 | 23 | |||||
| Additional paid-in capital | 657,577 | 641,439 | |||||
| Accumulated deficit | (308,583 | ) | (506,256 | ) | |||
| TOTAL STOCKHOLDERS' EQUITY | 349,018 | 135,206 | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 488,678 | $ | 329,182 | |||
| ADMA BIOLOGICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| Three Months ended December 31, | Year ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (In thousands, except share and per share data) | |||||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||||
| REVENUES | $ | 117,549 | $ | 73,904 | $ | 426,454 | $ | 258,215 | |||||||
| Cost of product revenue | 54,216 | 42,817 | 206,901 | 169,273 | |||||||||||
| Gross profit | 63,333 | 31,087 | 219,553 | 88,942 | |||||||||||
| OPERATING EXPENSES: | |||||||||||||||
| Research and development | 391 | 445 | 1,813 | 3,300 | |||||||||||
| Plasma center operating expenses | 1,277 | 685 | 4,245 | 4,266 | |||||||||||
| Amortization of intangible assets | 25 | 187 | 388 | 724 | |||||||||||
| Selling, general and administrative | 23,317 | 15,535 | 74,124 | 59,020 | |||||||||||
| Total operating expenses | 25,010 | 16,852 | 80,570 | 67,310 | |||||||||||
| INCOME (LOSS) FROM OPERATIONS | 38,323 | 14,235 | 138,983 | 21,632 | |||||||||||
| OTHER INCOME (EXPENSE): | |||||||||||||||
| Interest income | 598 | 612 | 2,097 | 1,617 | |||||||||||
| Interest expense | (2,879 | ) | (6,215 | ) | (13,930 | ) | (25,027 | ) | |||||||
| Loss on extinguishment of debt | (1,243 | ) | (26,174 | ) | (1,243 | ) | (26,174 | ) | |||||||
| Other expense | (86 | ) | (101 | ) | (193 | ) | (287 | ) | |||||||
| Other expense, net | (3,610 | ) | (31,878 | ) | (13,269 | ) | (49,871 | ) | |||||||
| INCOME (LOSS) BEFORE INCOME TAXES | 34,713 | (17,643 | ) | 125,714 | (28,239 | ) | |||||||||
| Provision for income taxes | (77,183 | ) | - | (71,959 | ) | - | |||||||||
| NET INCOME (LOSS) | $ | 111,896 | $ | (17,643 | ) | $ | 197,673 | $ | (28,239 | ) | |||||
| BASIC EARNINGS (LOSS) PER COMMON SHARE | $ | 0.47 | $ | (0.08 | ) | $ | 0.85 | $ | (0.13 | ) | |||||
| DILUTED EARNINGS (LOSS) PER COMMON SHARE | $ | 0.46 | $ | (0.08 | ) | $ | 0.81 | $ | (0.13 | ) | |||||
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||||||||||||||
| Basic | 236,433,759 | 225,968,387 | 233,084,236 | 223,977,315 | |||||||||||
| Diluted | 245,900,655 | 225,968,387 | 243,342,466 | 223,977,315 | |||||||||||
| NON-GAAP RECONCILIATION RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA | |||||||||||||||
| Three Months ended December 31, | Year ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (In thousands) | |||||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||||
| Net income (loss) | $ | 111,896 | $ | (17,643 | ) | $ | 197,673 | $ | (28,239 | ) | |||||
| Depreciation | 1,919 | 1,921 | 7,657 | 7,608 | |||||||||||
| Amortization | 25 | 188 | 388 | 724 | |||||||||||
| Income taxes | (77,183 | ) | - | (71,959 | ) | - | |||||||||
| Interest expense | 2,879 | 6,215 | 13,930 | 25,027 | |||||||||||
| EBITDA | 39,536 | (9,319 | ) | 147,689 | 5,120 | ||||||||||
| Stock-based compensation | 5,433 | 1,745 | 13,616 | 6,187 | |||||||||||
| Loss on extinguishment of debt | 1,243 | 26,174 | 1,243 | 26,174 | |||||||||||
| IT systems disruption | - | - | - | 2,770 | |||||||||||
| Yield enhancement | 2,064 | - | 2,064 | - | |||||||||||
| Adjusted EBITDA | $ | 48,276 | $ | 18,600 | $ | 164,612 | $ | 40,251 | |||||||
| NON-GAAP RECONCILIATION RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED NET INCOME | |||||||||||||||
| Three Months ended December 31, | Year ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (In thousands) | |||||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||||
| Net income (loss) | $ | 111,896 | $ | (17,643 | ) | $ | 197,673 | $ | (28,239 | ) | |||||
| Deferred income tax benefit | $ | (84,280 | ) | - | (84,280 | ) | - | ||||||||
| Loss on extinguishment of debt | $ | 1,243 | 26,174 | 1,243 | 26,174 | ||||||||||
| IT systems disruption | - | - | 2,770 | ||||||||||||
| Yield Enhancement, non-recurring expenses | $ | 2,064 | 2,064 | ||||||||||||
| Share-based compensation modifications | $ | 2,518 | 2,518 | ||||||||||||
| Adjusted Net Income | $ | 33,441 | $ | 8,531 | $ | 119,218 | $ | 705 | |||||||
FAQ
What are ADMA Biologics' revenue projections for 2025 and 2026?
How much did ADMA's revenue grow in FY 2024?
What is the expected impact of ADMA's yield enhancement production process?
How has ADMA expanded its plasma collection capacity?
What was ADMA's net income and EBITDA performance in 2024?
