Business
ADMA Biologics Announces Fourth Quarter and Full Year 2022 Financial Results and Provides Business Update
4Q2022 Total Revenues of $50 Million, a 90% Y-o-Y Increase 4Q2022 Gross Profit of $14 Million, an $11 Million Y-o-Y Increase FY 2023 Total Revenue Expected to
About this update from Adma Biologics Inc
[{"type":"text","content":"4Q2022 Total Revenues of $50 Million, a 90% Y-o-Y Increase 4Q2022 Gross Profit of $14 Million, an $11 Million Y-o-Y Increase FY 2023 Total Revenue Expected to Exceed $210 Million First-Time Positive EBITDA Expected No Later than Second Half of 2023 Conference Call Scheduled for Today at 4:30 p.m. ET RAMSEY, N.J. and BOCA RATON, Fla., March 23, 2023 (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 plasma-derived biologics, today announced its fourth quarter and full year 2022 financial results and provided a business update. “We achieved year-over-year revenue growth of 90% during 2022, advancing ADMA’s position as the fastest growing provider of Immunoglobulin (IG) in the U.S. market. We believe our continued commercial success is in large part attributable to ADMA’s exclusive focus on targeting the immune deficient patient segment, the fastest growing cohort in the IG market, where we treated a record number of patients and achieved strong market share gains. We believe our innovative business model and success in this subsector position us well for the future,” said Adam Grossman, President and Chief Executive Officer of ADMA. Mr. Grossman continued, “We remain highly committed to driving profitability in the periods ahead and have now identified several opportunities to potentially grow peak revenues and earnings to levels exceeding prior guidance. The persistence of encouraging business trends since the start of 2023 gives us confidence in our ability to meet or potentially exceed previously provided financial targets. We anticipate 2023 to be an inflection point for ADMA: our organization aims to sustain top-tier revenue growth, achieve first-time EBITDA profitability and shortly thereafter, solidify the pathway to an ultimate margin profile at the upper bound of ADMA’s plasma peer group.” 2023 Milestones & Objectives: Unlock New Growth Opportunities: ADMA has identified several growth opportunities that can potentially increase revenue and improve margins beyond previously provided financial targets. With an unwavering emphasis on achieving near term profitability, the incremental investments required to pursue these initiatives are not significant and are not expected to impa...