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ADMA Biologics Announces Preliminary Full Year 2024 Revenue and Provides Business Update

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ADMA Biologics has announced its preliminary unaudited revenue for FY 2024, estimating a total revenue of approximately $417-425 million, exceeding its previous guidance of $415 million. The company's total cash holdings at year-end 2024 grew to more than $100 million, a $45 million increase quarter-over-quarter, despite organically discharging $30 million of debt during Q4 2024.

Newly executed high-titer plasma supply contracts are expected to support durable revenue growth for ASCENIV through the late 2030s. Additionally, ADMA has submitted a PAS to the FDA for approval of an innovative yield enhancement production process, with potential regulatory approval anticipated by mid-2025.

The company has provided revenue guidance for FY 2025 and 2026, expecting to exceed $485 million and $600 million, respectively. Net income for these years is projected to surpass $170 million and $230 million, while adjusted EBITDA is expected to exceed $220 million and $300 million, respectively. ADMA aims to generate over $1 billion in total annual revenue before 2030, more than doubling the current 2025 revenue forecast.

ADMA Biologics ha annunciato i suoi ricavi preliminari non verificati per l'anno fiscale 2024, stimando un fatturato totale di circa $417-425 milioni, superando così la sua precedente stima di $415 milioni. Le disponibilità liquide totali della società alla fine del 2024 sono cresciute a oltre $100 milioni, con un incremento di $45 milioni rispetto al trimestre precedente, nonostante un rimborso organico di $30 milioni di debito durante il quarto trimestre del 2024.

I nuovi contratti di fornitura di plasma ad alta concentrazione recentemente eseguiti dovrebbero supportare una crescita dei ricavi durevole per ASCENIV fino alla fine degli anni '30. Inoltre, ADMA ha presentato un PAS alla FDA per l'approvazione di un innovativo processo di produzione per il miglioramento del rendimento, con un'approvazione normativa prevista entro metà 2025.

La società ha fornito previsioni sui ricavi per gli anni fiscali 2025 e 2026, prevedendo di superare rispettivamente $485 milioni e $600 milioni. Si prevede che il reddito netto per questi anni supererà $170 milioni e $230 milioni, mentre l'EBITDA rettificato dovrebbe superare $220 milioni e $300 milioni, rispettivamente. ADMA punta a generare oltre $1 miliardo di ricavi annuali totali prima del 2030, più che raddoppiando l'attuale previsione di fatturato per il 2025.

ADMA Biologics ha anunciado sus ingresos preliminares no auditados para el año fiscal 2024, estimando un ingreso total de aproximadamente $417-425 millones, superando su guía anterior de $415 millones. Las reservas de efectivo totales de la empresa al final de 2024 crecieron a más de $100 millones, un incremento de $45 millones en comparación con el trimestre anterior, a pesar de haber reducido orgánicamente $30 millones de deuda durante el cuarto trimestre de 2024.

Los nuevos contratos de suministro de plasma de alto título recientemente ejecutados se espera que apoyen un crecimiento sostenible de ingresos para ASCENIV hasta finales de la década de 2030. Además, ADMA ha presentado un PAS a la FDA para la aprobación de un innovador proceso de producción que mejora el rendimiento, con una aprobación regulatoria anticipada para mediados de 2025.

La empresa ha proporcionado su guía de ingresos para los años fiscales 2025 y 2026, esperando superar los $485 millones y $600 millones, respectivamente. Se proyecta que la renta neta para estos años supere los $170 millones y $230 millones, mientras que el EBITDA ajustado se espera que supere los $220 millones y $300 millones, respectivamente. ADMA tiene como objetivo generar más de $1 mil millones en ingresos anuales totales antes de 2030, más que duplicando la previsión de ingresos actual para 2025.

ADMA Biologics는 2024 회계연도의 잠정 미검토 수익을 발표하며, 총 수익이 약 $417-425 백만 달러에 이를 것으로 예상하고 있으며, 이는 이전 가이던스인 $415 백만 달러를 초과합니다. 2024년 연말에 회사의 전체 현금 보유액은 $100 백만 달러를 초과하여 전 분기 대비 $45 백만 달러 증가했으며, 2024년 4분기 동안 $30 백만 달러의 부채를 유기적으로 상환했습니다.

새롭게 체결된 고타이틀 플라스마 공급 계약은 ASCENIV의 지속 가능한 수익 성장에 기여할 것으로 예상되며, 2030년대 후반까지 이어질 것입니다. 또한 ADMA는 FDA에 혁신적인 수익 증대 생산 프로세스 승인을 위한 PAS를 제출했으며, 2025년 중반까지 규제 승인을 받을 것으로 예상됩니다.

회사는 2025년 및 2026년 회계연도에 대한 수익 지침을 제공하며, 각각 $485 백만 달러 및 $600 백만 달러를 초과할 것으로 예상됩니다. 이들 해의 순이익은 각각 $170 백만 달러 및 $230 백만 달러를 초과할 것으로 예상되며, 조정된 EBITDA는 각각 $220 백만 달러 및 $300 백만 달러를 초과할 것으로 예상됩니다. ADMA는 2030년 이전에 연간 총 수익을 $10억 달러 이상으로 증가시키는 것을 목표로 하며, 이는 2025년의 현재 예측치를 두 배로 초과하는 것입니다.

ADMA Biologics a annoncé ses revenus préliminaires non audités pour l'exercice 2024, estimant un chiffre d'affaires total d'environ 417 à 425 millions de dollars, dépassant ainsi son estimation précédente de 415 millions de dollars. Les liquidités totales de l'entreprise à la fin de 2024 ont augmenté à plus de 100 millions de dollars, soit une augmentation de 45 millions de dollars par rapport au trimestre précédent, malgré un remboursement organique de 30 millions de dollars de dette au cours du quatrième trimestre 2024.

Les nouveaux contrats de fourniture de plasma à haut titre récemment signés devraient soutenir une croissance durable des revenus pour ASCENIV jusqu'à la fin des années 2030. De plus, ADMA a soumis un PAS à la FDA pour l'approbation d'un processus de production innovant visant à améliorer le rendement, avec une approbation réglementaire anticipée d'ici mi-2025.

L'entreprise a fourni des prévisions de revenus pour les exercices 2025 et 2026, s'attendant à dépasser respectivement 485 millions de dollars et 600 millions de dollars. Le revenu net pour ces années devrait dépasser 170 millions de dollars et 230 millions de dollars, tandis que l'EBITDA ajusté devrait dépasser 220 millions de dollars et 300 millions de dollars, respectivement. ADMA vise à générer plus de 1 milliard de dollars de revenus annuels totaux avant 2030, plus que doublant les prévisions de revenus actuelles pour 2025.

ADMA Biologics hat seine vorläufigen nicht geprüften Einnahmen für das Geschäftsjahr 2024 bekannt gegeben und schätzt einen Gesamtumsatz von etwa 417-425 Millionen Dollar, was die vorherige Guidance von 415 Millionen Dollar übersteigt. Die gesamten liquiden Mittel des Unternehmens erhöhten sich zum Ende des Jahres 2024 auf über 100 Millionen Dollar, was einen Anstieg von 45 Millionen Dollar im Vergleich zum Vorquartal darstellt, obwohl im vierten Quartal 2024 organisch 30 Millionen Dollar Schulden abgebaut wurden.

Die neu abgeschlossenen Verträge zur Lieferung von hochkonzentriertem Plasma sollten einem nachhaltigen Umsatzwachstum für ASCENIV bis in die späten 2030er Jahre dienen. Darüber hinaus hat ADMA einen PAS bei der FDA zur Genehmigung eines innovativen Verfahrens zur Ertragssteigerung eingereicht, mit einer erwarteten regulatorischen Genehmigung bis Mitte 2025.

Das Unternehmen hat Umsatzprognosen für die Geschäftsjahre 2025 und 2026 bereitgestellt und erwartet, die Schwellen von 485 Millionen und 600 Millionen Dollar jeweils zu überschreiten. Das Nettoergebnis für diese Jahre wird voraussichtlich 170 Millionen und 230 Millionen Dollar übersteigen, während das bereinigte EBITDA voraussichtlich 220 Millionen und 300 Millionen Dollar übersteigen wird. ADMA zielt darauf ab, bis 2030 einen jährlichen Gesamtumsatz von über 1 Milliarde Dollar zu erzielen, was die aktuelle Umsatzprognose für 2025 mehr als verdoppeln würde.

Positive
  • FY 2024 preliminary unaudited revenue of $417-425 million, exceeding previous guidance.
  • Total cash holdings grew to more than $100 million by year-end 2024.
  • Net cash surplus relative to $75 million of total debt.
  • High-titer plasma supply contracts expected to support revenue growth for ASCENIV through the late 2030s.
  • Potential FDA approval for innovative production process anticipated by mid-2025.
  • FY 2025 and 2026 revenue guidance expected to exceed $485 million and $600 million, respectively.
  • FY 2025 and 2026 net income projected to surpass $170 million and $230 million, respectively.
  • FY 2025 and 2026 adjusted EBITDA expected to exceed $220 million and $300 million, respectively.
  • ADMA aims to generate over $1 billion in total annual revenue before 2030.
Negative
  • None.

Insights

ADMA Biologics delivers an exceptional financial performance that significantly exceeds market expectations. The preliminary revenue range of $417-425 million for FY2024 surpasses previous guidance, while the company's cash position strengthened remarkably to over $100 million, despite retiring $30 million in debt. The forward-looking guidance is particularly impressive, with projected revenues of $485 million and $600 million for 2025 and 2026 respectively.

The company's financial health shows remarkable improvement with projected net income of $170 million and $230 million for 2025 and 2026. The debt-to-cash ratio has significantly improved, with only $75 million in outstanding debt against $100 million cash holdings, providing substantial financial flexibility. The projected path to $1 billion in annual revenue before 2030 demonstrates aggressive but achievable growth trajectory.

The execution of high titer plasma supply contracts represents a strategic masterpiece that secures ADMA's long-term growth potential through the 2030s. This is particularly important for ASCENIV, their premium immunoglobulin product. The pending FDA approval for their yield enhancement production process could be a game-changer, potentially improving manufacturing efficiency and margins significantly by mid-2025.

The robust growth in ASCENIV adoption, evidenced by real-world patient outcomes, indicates strong market penetration in the immunodeficiency segment. This success in the specialty biologics space, combined with secured plasma supply and potential manufacturing improvements, creates a sustainable competitive advantage in the highly specialized immunoglobulin market.

The market is likely to respond very positively to this comprehensive update. With a current market cap of $4.39 billion, ADMA's valuation could see significant upward revision based on these projections. The projected Adjusted EBITDA of $220 million and $300 million for 2025 and 2026 suggests robust operational efficiency and healthy profit margins.

The company's strategic positioning in the specialty biologics market, combined with strong financial execution and clear visibility into future growth, provides a compelling investment case. The substantial debt reduction while maintaining strong cash reserves demonstrates excellent capital management, which should attract both growth and value investors.

FY 2024 Preliminary Unaudited Total Revenue of Approximately $417-425 Million, Exceeding Previous Guidance of $415 Million

YE 2024 Total Cash Grew to More than $100 Million, an Increase of Approximately $45 Million Q-o-Q, Notwithstanding $30 Million of Debt Organically Discharged During 4Q 2024

Newly Executed High Titer Plasma Supply Contracts Expected to Provide Foundation for Durable ASCENIV Revenue Growth Through Late 2030s

PAS Submitted to the FDA for Approval of Innovative Yield Enhancement Production Process; Potential Regulatory Approval Anticipated Mid-2025

FY 2025 and 2026 Total Revenue Guidance Expected to Exceed $485 Million and $600 Million, Respectively

FY 2025 and 2026 Net Income Expected to Exceed $170 Million and $230 Million, Respectively

FY 2025 and 2026 Adjusted EBITDA(1) Expected to Exceed $220 Million and $300 Million, Respectively

ADMA Anticipates Generating Greater Than $1 Billion in Total Annual Revenue Prior to 2030, More Than Doubling the Current 2025 Revenue Forecast

RAMSEY, N.J. and BOCA RATON, Fla., Jan. 13, 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 preliminary unaudited full year 2024 revenue and provided a business update. Based on unaudited financial information, ADMA preliminarily estimates that its total revenue for the full year ended December 31, 2024 will be between $417-425 million. ADMA’s total cash holdings at year-end 2024 grew to greater than $100 million, representing a net cash surplus relative to the $75 million of total debt currently outstanding with Ares Capital.

“We are proud of our 2024 performance and the meaningful impact our products have had on improving the lives of immunodeficient patients. Building on this momentum, we believe we are well-positioned to deliver continued stockholder value in 2025,” said Adam Grossman, President and Chief Executive Officer of ADMA. “Compelling real-world patient outcomes for ASCENIV have driven record forward-looking demand metrics through year-end 2024, underpinning both revenue and margin growth into the new year. We are pleased to announce that we have now executed multiple, long-term third-party plasma supply contracts, contributing to a continuous and growing supply of high-titer plasma expected to meet ASCENIV’s growth targets through the late 2030s. These supply agreements should position us to potentially achieve $1 billion in total annual revenue before 2030, with significant growth potential in the 2030s. We deeply appreciate the commitment of our plasma supply partners to ADMA and the immunodeficient patients we serve.”

Mr. Grossman continued, “Our innovative yield enhancement production process is advancing, with a Prior Approval Supplement (PAS) recently filed with the FDA. Pending an anticipated mid-year approval, this enhancement is expected to increase Immunoglobulin (IG) yields by approximately 20% from the same starting plasma volume, driving substantial revenue and earnings increases beginning later this year and accelerating during 2026.”   

Mr. Grossman concluded, “We’ve built a commercial biopharma organization capable of executing our strategy and delivering robust growth. Prior to 2030, we anticipate doubling forecasted 2025 total revenue with even greater earnings expansion during the same period. We remain dedicated to advancing what we believe will be a leading growth story in the healthcare sector for years to come, while continuing to make a meaningful difference in the lives of immunodeficient patients.”  

Financial Guidance:

  • FY 2025 and 2026 total revenue expected to exceed $485 million and $600 million, respectively
  • FY 2025 and 2026 net income expected to exceed $170 million and $230 million, respectively
  • FY 2025 and 2026 Adjusted EBITDA expected to exceed $220 million and $300 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:

  • Favorably evolving product mix. With record highs across all ASCENIV leading demand metrics through year-end 2024, the Company expects ASCENIV’s total revenue share to expand in 2025 and beyond. As ASCENIV’s benefit in real-world patient outcomes continues and long-term high-titer plasma supply contracts ramp up, the Company anticipates accelerating ASCENIV’s penetration and significantly expanding its peak revenue potential beyond current levels.

  • Regulatory filings submitted for potential approval of innovative yield enhancement production process. ADMA successfully submitted a PAS for potential approval of its innovative yield enhancement production process. Following FDA review of the submission, the Company anticipates a mid-2025 approval, with potential revenue and earnings accretion expected in the second half of the year. 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 financial targets, if approved.

  • Solidified high titer plasma supply on a long-term basis. ADMA has recently executed third-party, high titer plasma supply contracts, which are expected to significantly increase access to raw material plasma used to produce ASCENIV. These long-term agreements should allow the Company to source high titer plasma from approximately 250 collection centers, a 5-fold increase in total collection capacity. Combined with ADMA’s growing internal plasma collections, the Company should be well-positioned to meet its revenue targets and potentially achieve $1 billion in total annual revenue prior to 2030, with continued potential growth opportunities thereafter.

  • Strengthened balance sheet and optimizing cost of capital.   ADMA generated approximately $45 million in operating cash flow in the fourth quarter of 2024, increasing year-end cash on hand to over $100 million. With this robust cash flow and $60 million in debt organically discharged over the past two quarters, 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 upside to the currently provided financial guidance, and ADMA believes the product has the potential to generate $300-500 million in high margin annual revenue.

(1) Adjusted EBITDA is a non-GAAP financial measure. The estimated Adjusted EBITDA amounts included herein are preliminary and reconciliations cannot be produced at this time without unreasonable effort. The Company expects to provide a reconciliation of Adjusted EBITDA to the most comparable GAAP measure in its earnings release relating to the fourth quarter and full year 2024 financial results.

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: BIVIGAM® (immune globulin intravenous, human) for the treatment of primary humoral immunodeficiency (PI); ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus. ADMA manufactures its immune globulin products at its FDA-licensed plasma fractionation and purification facility located in Boca Raton, Florida. Through its ADMA BioCenters subsidiary, ADMA also operates as an FDA-approved source plasma collector in the U.S., which provides its blood plasma for the manufacture of its products. ADMA’s mission is to manufacture, market and develop specialty plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases and management of immune compromised patient populations who suffer from an underlying immune deficiency, or who may be immune compromised for other medical reasons. ADMA holds numerous U.S. and foreign patents related to and encompassing various aspects of its products and product candidates. For more information, please visit www.admabiologics.com.

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,” “should,” “could,” “would,” “may,” “potential” 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 full-year 2024 total revenue; revenue, net income, Adjusted EBITDA and margins guidance in future periods and related timing in connection therewith; 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; ability to make timely filings with the U.S. Securities and Exchange Commission (SEC); and statements regarding SG-001 and revenue potential. 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.

INVESTOR RELATIONS CONTACT:
Argot Partners | 212-600-1902 | ADMA@argotpartners.com


FAQ

What is the preliminary unaudited revenue for ADMA Biologics in FY 2024?

The preliminary unaudited revenue for ADMA Biologics in FY 2024 is estimated to be between $417-425 million.

How much did ADMA Biologics' total cash holdings grow by the end of 2024?

ADMA Biologics' total cash holdings grew to more than $100 million by the end of 2024.

What is the expected revenue for ADMA Biologics in FY 2025 and 2026?

ADMA Biologics expects its revenue to exceed $485 million in FY 2025 and $600 million in FY 2026.

What is the projected net income for ADMA Biologics in FY 2025 and 2026?

ADMA Biologics projects its net income to exceed $170 million in FY 2025 and $230 million in FY 2026.

What is the anticipated adjusted EBITDA for ADMA Biologics in FY 2025 and 2026?

ADMA Biologics anticipates its adjusted EBITDA to exceed $220 million in FY 2025 and $300 million in FY 2026.

When does ADMA Biologics aim to generate over $1 billion in total annual revenue?

ADMA Biologics aims to generate over $1 billion in total annual revenue before 2030.

What are the new high-titer plasma supply contracts expected to support?

The new high-titer plasma supply contracts are expected to support durable revenue growth for ASCENIV through the late 2030s.

What regulatory approval is ADMA Biologics anticipating by mid-2025?

ADMA Biologics is anticipating FDA approval for an innovative yield enhancement production process by mid-2025.

ADMA Biologics, Inc.

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Biotechnology
Biological Products, (no Disgnostic Substances)
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United States of America
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