Business
ADMA Biologics Announces Second Quarter 2023 Financial Results and Provides Business Update
2Q2023 Total Revenues of $60.1 Million, a 77% Y-o-Y Increase 2Q2023 Adjusted EBITDA(1) of $6.4 Million, a 160% Q-o-Q Improvement 2Q2023 Adjusted Net Loss(2)
About this update from Adma Biologics Inc
[{"type":"text","content":"2Q2023 Total Revenues of $60.1 Million, a 77% Y-o-Y Increase 2Q2023 Adjusted EBITDA(1) of $6.4 Million, a 160% Q-o-Q Improvement 2Q2023 Adjusted Net Loss(2) of $3.6 Million, a 74% Y-o-Y Improvement FY2023 Total Revenue Now Expected to Exceed $240 Million, Increased from $220 Million Adjusted EBITDA Growth Expected Over the Remainder of 2023 FY2024 and 2025 Total Revenue Guidance Increased to $275 Million and $325 Million or More, Respectively Conference Call Scheduled for Today at 4:30 p.m. ET RAMSEY, N.J. and BOCA RATON, Fla., Aug. 09, 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 second quarter 2023 financial results and provided a business update. “We achieved an impressive 77% YoY revenue growth rate, reaching $60.1 million during the second quarter of 2023, driven by our expanding penetration into the immune deficient patient population, our core market segment. With effective expense management, ADMA grew Adjusted EBITDA to $6.4 million during the second quarter, representing a 160% growth rate compared to the first quarter of 2023,” said Adam Grossman, President and Chief Executive Officer of ADMA. “We believe the successful and prudent business management of our operating expenses in the second quarter, which declined compared to the first quarter, validates that ADMA’s cost structure continues to be optimized. Going forward, we anticipate compounding operating leverage driven by projected revenue and gross profit growth.” Mr. Grossman continued, “The strong momentum achieved in 2023 has given us the confidence to increase our total revenue guidance for FY 2023, 2024 and 2025. Our innovative business model has enabled ADMA to successfully establish inroads into the substantially underpenetrated immune deficient patient population. We are confident that identified growth opportunities within this targeted patient segment will enable us to meet or exceed the newly increased financial guidance.\" (1) Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Adjusted EBITDA to the most comparable GAAP measure, please see the reconciliation included in the financial tables.(2) Adjusted Net Loss is a non-GAAP fin...