Kamada Ltd. · NASDAQ:KMDA
Kamada — Q3 2025 Earnings Presentation
18 slides from Kamada's earnings presentation, Nov 10, 2025
Slide 1: 9M/2025 & Q3/2025 Investors Call
November 2025 9M/2025 & Q3/2025 Investors Call NASDAQ: KMDA; TASE: KMDA.TA
Slide 2: Forward-Looking Statement
2 FORWARD - LOOKING STATEMENT This presentation is not intended to provide investment or medical advice . It should be noted that some products under development described herein have not been found safe or effective by any regulatory agency and are not approved for any use outside of clinical trial
Slide 3: 9M-25 Continuing the Growth: Double Digit Revenue and Profitability Increase
3 9 M - 25 CONTINUING THE GROWTH YoY DOUBLE DIGIT REVENUE AND PROFITABILITY INCREASE Paid special cash dividend of $0.20 per share (totaling approximately $11.5M) on April 7, 2025 GROSS PROFIT REVENUE 12% 2024 $52.9 2025 $ 59.4 11% 2024 $121.9 2025 $ 135.8 Adj. EBITDA EPS 35% 2024 $25.4 2025 $ 34.2
Slide 4: Annual Double-Digit Growth Trajectory
4 6 18 24 34 40 - 44 2021 2022 2023 2024 2025 104 129 142 161 178 - 182 2021 2022 2023 2024 2025 ADJUSTED EBITDA US$M 61% CAGR 2025 represents annual guidance 2025 represents annual guidance ANNUAL DOUBLE - DIGIT GROWTH TRAJECTORY REVENUES US$M 15% CAGR Quarter - End Strong Cash Position of $72.0 Mi
Slide 5: Delivering on Our Commitments
DELIVERING ON OUR COMMITMENTS 5
Slide 6: Kamada's Roadmap for Continued Annual Double-Digit Growth
6 KAMADA ’ S ROADMAP FOR CONTINUED ANNUAL DOUBLE - DIGIT GROWTH Organic Growth Portfolio of 6 FDA - approved products; Over 30 territories; and Distribution portfolio in Israel M&A Transactions Support growth through M&A transactions Plasma Collection Centers Each new center expected to contribute a
Slide 7: A Global Leader in Anti-Rabies Immune Globulin (HRIG)
$ 150 M Total U.S HRIG market size, KEDRAB presents double - digit growth YoY Only anti - Rabies IgG product with FDA approved label confirming safety and effectiveness in children KEDRAB /KAMRAB $ 50 M 2024 U.S. Revenues; $ 135 M Minimum sales in the U.S. expected in 2025 - 2027 Only 2 FDA approved
Slide 8: GLASSIA: Liquid AAT for the Treatment of AATD
8 Licensed to Takeda in the USA, Canada, Australia and New Zealand Commencing in 2022 , Takeda is paying Kamada royalties at a rate of 12 % on its net market sales through August 2025 , and 6 % thereafter until 2040 Projected royalties in the range of $ 10 M to $ 20 M per year Outside the Takeda ter
Slide 9: CYTOGAM: CMV Immune Globulin
9 CYTOGAM is the only plasma - derived IgG approved in the U.S. and Canada for prophylaxis of CMV disease after Solid Organ Transplantation. CMV is the leading cause for organ rejection post - transplant. CYTOGAM $ 23 M 2024 Revenues; Up 31 % over 2023 CMV IMMUNE GLOBULIN Growth Continued growth exp
Slide 10: Distribution Segment Growth
10 DISTRIBUTION SEGMENT GROWTH More than 25 products exclusively licensed from leading international pharmaceutical companies, marketed in the Israeli market EXCLUSIVE DISTRIBUTOR IN ISRAEL FOR LEADING BIOPHARMACEUTICAL COMPANIES EXPANDING THE DISTRIBUTION SEGMENT MODEL TO THE MENA REGION Key areas
Slide 11: M&A Transactions
11 M&A TRANSACTIONS EXPECT TO SECURE NEW BUSINESS DEVELOPMENT AND M&A TRANSACTIONS DURING 2025 ; LEVERAGING OVERALL FINANCIAL STRENGTH AND COMMERCIAL INFRASTRUCTURE Screening strategic business development opportunities to identify potential acquisition or in - licensing to accelerate long - term gr
Slide 12: Kamada Plasma: Expanding Vertical Integration & Revenue Growth
12 KAMADA PLASMA EXPANDING VERTICAL INTEGRATION & REVENUE GROWTH Collecting hyper - immune plasma for our specialty IgG products and normal source plasma (NSP) to support revenue growth Operating three plasma collection centers in Texas; Houston, San Antonio and Beaumont Houston center now FDA appro
Slide 13: Inhaled AAT Phase 3 Pivotal Study
13 $ 2 Billion A substantial market opportunity ( 2028 ) č Based on expected changes to the statistical analysis plan, intend to reduce the study sample size to approximately 180 patients , and conduct an interim futility analysis by the end of 2025 FDA reconfirmed overall study design, endorsed pos
Slide 14: Strong 9M-25 Financial Results Details
14 Adjusted EBITDA is defined as net income, plus ( i ) tax expense, (ii) financial income (expense), net, (iii) depreciation and amortization ; and (v) non - cash share - based compensation expenses STRONG 9 M - 25 FINANCIAL RESULTS DETAILS FY 2024 Q3/24 Q3/25 9M/24 9M/25 US $ M Increase driven by
Slide 15: Kamada - A Global Biopharmaceutical Company
KEDRAB® CYTOGAM® HEPGAM B® VARIZIG® WINRHO® GLASSIA® KAMADA - A GLOBAL BIOPHARMACEUTICAL COMPANY 6 FDA - Approved Products 15 % CAGR (from 2021) $ 178 - 182 M 2025 Revenues Guidance $ 40 - 4 Đ M 2025 Adj. EBIDTA Guidance 4 Pillars of Growth A LEADER IN SPECIALTY PLASMA THERAPIES, WITH A PORTFOLIO OF
Slide 16: Thank You
THANK YOU www.kamada.com NASDAQ: KMDA; TASE: KMDA.TA
Slide 17: Non-IFRS Measures – Adjusted EBITDA
17 NON - IFRS MEASURES – ADJUSTED EBITDA Adjusted EBITDA is defined as net income, plus ( i ) tax expense, (ii) financial income (expense), net, (iii) depreciation and amortization ; and (v) non - cash share - based compensation expenses FY 2024 Q3/24 Q3/25 9M/24 9 M/ 25 US $ M 14.5 3.9 5.3 10.7 16.
Slide 18: FDA-Approved Specialty Plasma Products
18 6 FDA - APPROVED SPECIALTY PLASMA PRODUCTS KEDRAB® [Rabies Immune Globulin (Human)] Post exposure prophylaxis of rabies infection CYTOGAM® [Cytomegalovirus Immune Globulin (Human)] Prophylaxis of CMV disease associated with transplants HEPGAM B® [Hepatitis B Immune Globulin (Human)] Prevention of