Business
ADMA Biologics Announces First Quarter 2024 Financial Results and Provides Business Update
1Q 2024 Total Revenue of $81.9 Million, a 44% Increase Y-o-Y 1Q 2024 GAAP Net Income of $17.8 Million, a $24.6 Million Increase Y-o-Y 1Q 2024 Adjusted
About this update from Adma Biologics Inc
[{"type":"text","content":"1Q 2024 Total Revenue of $81.9 Million, a 44% Increase Y-o-Y 1Q 2024 GAAP Net Income of $17.8 Million, a $24.6 Million Increase Y-o-Y 1Q 2024 Adjusted EBITDA(1) of $26.4 Million, a 970% Increase Y-o-Y FY 2024 and 2025 Total Revenue Guidance Increased to More Than $355 Million and $410 Million, Respectively FY 2024 Net Income Guidance Increased to More Than $85 Million and Adjusted EBITDA Guidance Increased to More Than $110 Million FY 2025 Net Income Guidance Increased to More than $135 Million and Adjusted EBITDA Guidance Increased to More Than $160 Million Conference Call Scheduled for Today at 4:30 p.m. ET RAMSEY, N.J. and BOCA RATON, Fla., May 09, 2024 (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 first quarter 2024 financial results and provided a business update. “ADMA’s commercial success continues to unfold, and during the first quarter of 2024, we surpassed our financial expectations and delivered compounding earnings growth. The versatility and strength of our innovative business model has yet again provided for significant increases to both top- and bottom-line projections for 2024 and 2025,” said Adam Grossman, President, Chief Executive Officer and Interim Chief Financial Officer of ADMA. “We believe ASCENIV™’s record utilization coupled with BIVIGAM®’s deepening entrenchment in the expanding U.S. IG market are driving our commercial growth and further solidifying our position as a leader in specialty biologics. With an unwavering commitment to serving immune deficient patients, we believe we are poised for enduring growth within our target markets for years to come.” Mr. Grossman continued, “Looking to the remainder of 2024, we are actively advancing our growth initiatives, including innovating our biologics production processes and enhancing yields, as well as progressing our preclinical pipeline program. We anticipate strong performance throughout the year and remain confident in our ability to exceed expectations and deliver value to our stakeholders, as well as further de-risking long-term growth initiatives.” First Quarter 2024 Milestones and Objectives: Compounding Growth. Driven by 44% year-over-year revenue growth and an expansi...