Business
Kamada Reports Strong Second Quarter and First Half 2023 Financial Results; Reiterates 2023 Revenue and Profitability Guidance
Second Quarter 2023 Revenues were $37.4 Million, Representing a 59% Increase Year-over-Year; First Half 2023 Revenues of $68.2 Million, Up 32%
About this update from Kamada Ltd.
[{"type":"text","content":"Second Quarter 2023 Revenues were $37.4 Million, Representing a 59% Increase Year-over-Year; First Half 2023 Revenues of $68.2 Million, Up 32% Year-over-YearFirst Half 2023 Adjusted EBITDA of $9.9 Million, Up 24% Year-over-Year Robust Second Quarter Results and Positive Outlook for Second Half of 2023 Support Reiteration of Fiscal Year 2023 Revenue Guidance of $138 Million - $146 Million, and Adjusted EBITDA of $22 Million to $26 Million Extended U.S. Distribution Agreement for KEDRAB® Rabies Immunoglobulin with Kedrion Biopharma Through March 2026Reports Positive Scientific Advice from European Medicines Agency (EMA) Regarding Ongoing Pivotal Inhaled AAT Study that Reconfirms the Overall Design of the Study and Acknowledges Certain Positive Results Demonstrated in Previously Completed Phase 2/3 Study Shareholder Vote to Approve $60 Million Private Placement with FIMI Opportunity Funds Scheduled for August 29, 2023Conference Call and Live Webcast Today at 8:30 AM ET REHOVOT, Israel and HOBOKEN, N.J., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ: KMDA; TASE: KMDA.TA), a commercial stage global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions and a leader in the specialty plasma-derived field, today announced financial results for the three and six months ended June 30, 2023. “Our strong start to 2023 continued in the second quarter, both financially and operationally,” said Amir London, Kamada’s Chief Executive Officer. “With total revenues for the first six months of the year of $68.2 million, which represented year-over-year growth of 32%, and adjusted EBITDA of $9.9 million, representing 24% growth year-over-year, we achieved the top- and bottom-line growth anticipated in our business during the first six months of the year. We continue to effectively leverage our multiple growth drivers, including a significant increase of KEDRAB® sales to Kedrion for further distribution in the U.S., as well as the portfolio of the four FDA-approved Immunoglobulins (CYTOGAM®, HEPAGAMB®, VARIZIG® and WINRHO® SDF), and our Israeli distribution business.” “Importantly, we expect the momentum in our business to continue through the second half of the year, with full-year profitability to be further meaningfully enhanced as compared to last year. As such, we are reiterating our ful...