Business
ADMA Biologics Announces Second Quarter 2022 Financial Results and Provides Business Update
2Q2022 Total Revenues Were $33.9 Million, a 90% Y-o-Y Increase Grew 2Q2022 Gross Profit to $7.8 Million, Up 112% Over 1Q2022 Narrowed 2Q2022 Net Losses to
About this update from Adma Biologics Inc
[{"type":"text","content":"2Q2022 Total Revenues Were $33.9 Million, a 90% Y-o-Y Increase Grew 2Q2022 Gross Profit to $7.8 Million, Up 112% Over 1Q2022 Narrowed 2Q2022 Net Losses to $13.8 Million, a 45% Improvement Over 1Q2022 Full Year 2022 Total Revenues Expected to Exceed $130 Million Gross Margin Growth and Narrowing Net Losses Expected Throughout 2022 and Beyond Conference Call Scheduled for Today at 4:30 p.m. ET RAMSEY, N.J. and BOCA RATON, Fla., Aug. 10, 2022 (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 second quarter 2022 financial results and provided a business update. “The second quarter of 2022 was another banner period of execution for ADMA Biologics, with total revenue growth of 90% year-over-year, significantly improved gross margins quarter-over-quarter, and meaningfully narrowed net losses compared to prior periods. We believe this significant revenue growth coupled with disciplined expense management establish a strong foundation for the Company to accelerate towards profitability,” said Adam Grossman, President and Chief Executive Officer of ADMA. “We are particularly pleased with the utilization and growth of our higher margin immune globulin product, ASCENIV™. Drawing from the robust underlying product demand trends, we expect that the product and margin mix will continue to favorably evolve over the coming periods. In this context, we anticipate the Company’s pathway to profitability will become increasingly visible as the year progresses and our anticipated margin expansion continues to unfold. We believe we are well-positioned to deliver 2022 total revenues exceeding $130 million, driven by both Intravenous Immunoglobulin (“IVIG”) end-market growth as well as anticipated share gains for our product portfolio. Additionally, our strategic alternatives process remains a top corporate priority and is ongoing. We will update the market as developments materialize.” “The investments made in the Boca Raton production facility, as well as our end-to-end supply chain, have enabled ADMA to successfully navigate historically challenging macroeconomic conditions,” said Brian Lenz, ADMA’s Chief Financial Officer, and General Manager, ADMA BioCenters...