ADMA BIOLOGICS (ADMA) Company Report

ADMA Biologics reported full-year 2025 total revenue of $510 million, representing 20% year-over-year growth, with adjusted EBITDA of $231 million (up 40% year-over-year) and adjusted net income of $161 million (up 35% year-over-year).
For full-year 2025, Asceniv achieved $363 million in net revenue, marking 51% year-over-year growth, and is expected to continue driving substantial revenue growth.
The company provided 2026 financial guidance, expecting total revenue to exceed $635 million, adjusted net income to exceed $255 million, and adjusted EBITDA to exceed $360 million.
ADMA's gross margin expanded to 57.4% for full-year 2025, with Q4 2025 corporate gross margins at 63.8%, primarily driven by Asceniv's growing contribution and the successful transition of yield-enhanced production into routine commercial practice, with 2026 being the first full year of its impact.
Brad Tade is retiring as Chief Financial Officer and Treasurer, with Terry Kohler appointed as his successor. Additionally, ADMA repositioned its plasma collection network, monetizing three centers while retaining seven, and secured long-term supply visibility through the late 2030s by gaining access to over 280 plasma collection centers.

2 days ago

Transcript

ADMA Biologics Reports Strong Full-Year 2025 Results and Issues Robust 2026 Guidance

ADMA

Earnings

Guidance Update

CFO Change

ADMA Biologics reported a strong finish to 2025, with full-year total revenue of $510 million, a 20% year-over-year increase, and adjusted EBITDA of $231 million, up 40% year-over-year.
The company issued robust financial guidance, projecting total revenue to exceed $635 million and adjusted EBITDA to exceed $360 million for 2026, with continued growth anticipated through 2029.
Asceniv net revenue grew 51% year-over-year to $363 million in 2025, driving overall growth and benefiting from yield-enhanced production and an expanded distribution network, including McKesson.
ADMA strategically repositioned its plasma collection network, divesting three centers while retaining seven, and secured long-term supply agreements providing access to over 280 plasma collection centers.
Brad Tade will retire as CFO and Treasurer, and Terry-Ann Kohler has been appointed as the incoming CFO and Treasurer.

2 days ago

Transcript

ADMA Biologics Reports Strong Q4 and Full Year 2025 Results, Issues Robust 2026-2029 Guidance

ADMA

Earnings

Guidance Update

CFO Change

ADMA Biologics reported full-year 2025 total revenue of $510 million, a 20% year-over-year increase, with adjusted EBITDA reaching $231 million, up 40%. For Q4 2025, total revenue was $139.2 million, and adjusted EBITDA grew 52% to $73.6 million.
The company provided strong financial guidance, expecting total revenue to exceed $635 million in 2026, $775 million in 2027, and $1.1 billion in 2029.
Asceniv net revenue for full-year 2025 was $363 million, representing 51% year-over-year growth, and the company exited Q4 2025 with corporate gross margins of 63.8%, driven by Asceniv's contribution and yield-enhanced production.
ADMA has repositioned its plasma collection network, retaining ownership of seven centers while gaining access to over 280 plasma collection centers through new supply contracts, and entered a distribution agreement with McKesson.
Brad Tade will retire as CFO and Treasurer, with Terry Kohler appointed as the new CFO and Treasurer.

2 days ago

Transcript

ADMA Biologics Reports Record Q4 and Full Year 2025 Financial Results and Provides 2026 Guidance

ADMA

Earnings

CFO Change

Guidance Update

ADMA Biologics reported record financial results for Full Year 2025, with total revenue reaching $510 million, a 20% year-over-year increase, and Adjusted EBITDA growing 40% year-over-year to $231 million.
ASCENIV revenue significantly increased to $363 million in FY 2025, representing 51% year-over-year growth, driven by strong demand and expanding prescriber adoption.
The company provided financial guidance for FY 2026, projecting total revenue to exceed $635 million, Adjusted Net Income to exceed $255 million, and Adjusted EBITDA to exceed $360 million.
Terry Kohler was appointed as the new Chief Financial Officer and Treasurer, and the company announced the divestiture of three plasma centers for $12 million as part of strategic plasma network actions.

2 days ago

8-K

ADMA Biologics provides business update and guidance at J.P. Morgan Healthcare Conference

ADMA

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

ADMA Biologics pre-announced strong financial results for Q4 2025 and full-year 2025, with Q4 revenue exceeding $139 million and full-year revenue of $510 million or more, along with Q4 EBITDA of $77 million-$78 million or more and full-year EBITDA of $235 million.
The company provided robust guidance, forecasting $635 million in revenue and $360 million in EBITDA for 2026, $775 million in revenue and $455 million in EBITDA for 2027, and over $1.1 billion in revenue with approximately $700 million in EBITDA by 2029.
Key operational advancements include the successful implementation of an FDA-approved yield enhancement manufacturing strategy, which commenced commercial-scale production in May 2025, contributing to increased revenue and outsized EBITDA.
ADMA is divesting three plasma centers while expanding its third-party plasma supply network from 250 to 280 centers, aiming to optimize raw material collection and reduce operating costs.
The company is advancing its pipeline with SG01, a potential $300 million-$500 million or more revenue opportunity not yet included in 2029 guidance, and plans to expand the label for its lead product, ASCENIV, to the pediatric population in 2026.

Jan 12, 2026, 5:45 PM

Transcript

ADMA Biologics Pre-Announces Strong 2025 Results and Provides Upbeat 2026-2029 Guidance

ADMA

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

ADMA Biologics pre-announced preliminary unaudited financial results for fiscal year 2025, reporting total revenue of $510 million or more, EBITDA of $235 million, and net income greater than $158 million.
The company provided robust guidance, projecting $635 million in revenue and $360 million in EBITDA for 2026, and $775 million in revenue and $455 million in EBITDA for 2027.
ADMA reiterated its 2029 multi-year guidance of $1.1 billion or more in revenue and approximately $700 million in EBITDA.
Strategic developments include the divestiture of three plasma centers for $12 million in gross proceeds and a new third-party plasma supply contract, expanding its network to 280 centers.
The company also highlighted the successful commercial-scale production of its FDA-approved yield enhancement strategy, which extracts 20% more finished goods from plasma, and plans to advance its SG01 pipeline product in 2026.

Jan 12, 2026, 5:45 PM

Transcript

ADMA Pre-Announces Strong 2025 Results and Provides Multi-Year Guidance

ADMA

Guidance Update

Revenue Acceleration/Inflection

Share Buyback

ADMA pre-announced 2025 total revenue of $510 million or more, with Q4 2025 revenue exceeding $139 million, EBITDA of $77-$78 million or more, and net income of about $50 million or more.
The company provided 2026 revenue guidance of $635 million and EBITDA of $360 million, and 2027 revenue guidance of $775 million and EBITDA of $455 million.
ADMA forecasts $1.1 billion or more in revenue by 2029 with EBITDA generation of about $700 million, driven by increased Asceniv sales and the successful implementation of a yield enhancement manufacturing strategy, which increases finished goods by 20%.
Strategic initiatives include divesting three plasma centers, expected to reduce operating costs by $13-$15 million, and expanding its distribution network through an agreement with McKesson Specialty. The company also continues to believe its stock is undervalued and is conducting share buybacks.

Jan 12, 2026, 5:45 PM

Transcript

ADMA Biologics Announces Preliminary FY 2025 Revenue and Updated Guidance

ADMA

Earnings

Guidance Update

Share Buyback

ADMA Biologics reported preliminary unaudited total revenue for FY 2025 of approximately $510-$511 million and ended the year with approximately $88 million in cash, including $40 million in estimated operating cash flow for Q4 2025.
The company increased its FY 2026 total revenue guidance to approximately $635 million (up from $630 million) and Adjusted EBITDA guidance to approximately $360 million (up from $355 million).
For FY 2027, ADMA expects total revenue of approximately $775 million and Adjusted EBITDA of approximately $455 million.
ADMA targets over $1.1 billion in annual revenue and over $700 million in Adjusted EBITDA by FY 2029.
Strategic initiatives include the divestiture of three plasma centers for $12 million to enhance margins and supply visibility, with 2026 anticipated as the first full year of yield-enhanced production supporting sustained margin expansion. The company also has an ongoing share repurchase program with up to $500 million authorized.

Jan 12, 2026, 1:20 PM

8-K

ADMA Biologics Announces Preliminary FY 2025 Revenue and Provides Updated Guidance

ADMA

Earnings

Guidance Update

Revenue Acceleration/Inflection

ADMA Biologics reported preliminary unaudited total revenue for FY 2025 of approximately $510–511 million, meeting or exceeding prior guidance.
The company ended 2025 with approximately $88 million in cash, including an estimated $40 million in operating cash flow generated in 4Q 2025.
ADMA increased its FY 2026 total revenue expectation to approximately $635 million and its FY 2026 Adjusted EBITDA expectation to approximately $360 million.
The company also provided FY 2027 guidance, expecting revenue of approximately $775 million and Adjusted EBITDA of approximately $455 million.
ADMA targets over $1.1 billion in annual revenue and over $700 million in Adjusted EBITDA by FY 2029.

Jan 12, 2026, 1:00 PM

Press Release

ADMA Biologics Outlines Growth Strategy and Financial Projections

ADMA

Guidance Update

New Projects/Investments

Share Buyback

ADMA Biologics is a US-based, vertically integrated specialty biologics company with three FDA-approved products, including ASCENIV and BIVIGAM, for primary immunodeficiency.
The company projects significant financial growth, forecasting $1.1 billion+ in annual revenue and $700 million in Adjusted EBITDA by FY2029, driven by a 20% revenue CAGR and 30% Adjusted EBITDA CAGR from 2025-2029.
Growth is supported by an FDA-approved yield enhancement process expected to provide 20%+ additional IG production yields starting in FY2026, and a robust, diversified plasma supply network.
ADMA is expanding its pipeline with SG-001, a hyperimmune globulin targeting S. pneumoniae infections with $300-500 million+ annual revenue potential, and an ASCENIV pediatric label expansion with an SBLA filed in June 2025.
The company has an ongoing share repurchase program with up to $500 million authorized.