Business
ADMA Biologics Announces Second Quarter 2024 Financial Results and Provides Business Update
2Q 2024 Total Revenue of $107.2 Million, a 78% Increase Y-o-Y 2Q 2024 GAAP Net Income of $32.1 Million, a $38.4 Million Increase Y-o-Y 2Q 2024 Adjusted
About this update from Adma Biologics Inc
[{"type":"text","content":"2Q 2024 Total Revenue of $107.2 Million, a 78% Increase Y-o-Y 2Q 2024 GAAP Net Income of $32.1 Million, a $38.4 Million Increase Y-o-Y 2Q 2024 Adjusted EBITDA(1) of $44.5 Million, a Nearly 600% Increase Y-o-Y Commercial Scale Production of ADMA’s Innovative Biologics Manufacturing Process Supports a Potential Yield Enhancement of Approximately 20% from Same Starting Plasma FY 2024 and 2025 Total Revenue Guidance Increased to More Than $400 Million and $445 Million, Respectively FY 2024 GAAP Net Income Guidance Increased to More Than $105 Million and Adjusted EBITDA Guidance Increased to More Than $150 Million FY 2025 GAAP Net Income Guidance Increased to More than $155 Million and Adjusted EBITDA Guidance Increased to More Than $200 Million Conference Call Scheduled for Today at 4:30 p.m. ET RAMSEY, N.J. and BOCA RATON, Fla., Aug. 08, 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 second quarter 2024 financial results and provided a business update. \"ADMA’s excellent second quarter results showcased the strength of our operations, innovative business and product offerings, enabling the Company to significantly increase both 2024 and 2025 financial guidance,” said Adam Grossman, President and Chief Executive Officer of ADMA. “We believe the Company is well-positioned to further strengthen its balance sheet, reduce the cost of capital and sustain ADMA’s position as one of the fastest growing and profitable companies in the biotech and pharma sector.” Mr. Grossman continued, “ADMA’s commitment to serving immunodeficient patients, particularly those with complex comorbidities, remains the cornerstone of our mission. We see additional opportunities for ADMA to continue to grow substantially in the underserved, immune compromised and co-morbid patient population despite the availability of standard of care therapy. We are confident that incremental additional penetration with ASCENIV will accelerate near-term revenue growth and create a substantial peak revenue opportunity beyond our 2025 guided baseline. Looking to the remainder of 2024, we expect continued revenue and earnings growth, advancement of regulatory processes for manufacturing yield enhan...