ADMA Biologics Inc
15.53-0.04 (-0.26%)
Oct 29, 4:00:02 PM EDT · NasdaqGM · ADMA · USD
Key Stats
Market Cap
3.71BP/E (TTM)
18.27Basic EPS (TTM)
0.85Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
ADMA Biologics posted solid Q2 FY2025 results, with revenues climbing 14% year-over-year to $122.0M, fueled by ASCENIV's growing acceptance among physicians and payers, while BIVIGAM faced a minor hit from a voluntary lot withdrawal. Gross margins edged up to 55.1% from 53.6%, thanks to a richer mix of high-margin IG sales, and operating income rose 9% to $42.8M, though SG&A swelled 34% on staffing for expansion. Diluted EPS held steady at $0.14, aligning with 248.6M shares, while free cash flow turned negative at -$5.8M (derived) amid inventory builds and $7.1M capex. Cash sat at $90.3M with $75.0M debt at ~8-11% rates, bolstered by a $300M JPM facility in August for refinancing and buybacks—$15.1M repurchased already. Yet regulatory scrutiny on plasma supply chains lingers as a key risk.
8-K
ADMA refinances with $300M facility
ADMA Biologics secured a $300 million senior secured credit facility on August 5, 2025, comprising a $75 million term loan and $225 million revolving line, maturing August 5, 2028, to refinance its prior Ares facility and support working capital, share repurchases, and general purposes. Interest accrues at ABR plus 1.50%-2.00% or Term SOFR plus 2.50%-3.00%, based on leverage, with a 0.30%-0.35% commitment fee on undrawn revolver amounts. The deal imposes a 2.50:1.00 maximum leverage ratio and 1.20:1.00 minimum fixed charge coverage, secured by all assets; yet, it lowers costs while enhancing liquidity. Strong covenants bind operations.
8-K
Annual meeting results approved
ADMA Biologics held its 2025 Annual Meeting on June 4, electing Jerrold B. Grossman and Lawrence P. Guiheen as Class III directors despite some withheld votes. Stockholders ratified KPMG LLP as auditors for the year ending December 31, 2025, approved executive pay on an advisory basis, and favored annual say-on-pay votes. With 86% turnout, the results signal strong governance alignment. No surprises here.
8-K
Q1 Surge, Debt Cut, Buyback
ADMA Biologics reported Q1 2025 revenue of $114.8 million, up 40% year-over-year, with GAAP net income rising 51% to $26.9 million and adjusted EBITDA surging 81% to $47.9 million, fueled by strong ASCENIV sales. The company reorganized debt on May 5, borrowing $30 million under its revolver to slash term loan to $2.5 million, cutting costs by 1.1%, while authorizing a $500 million share repurchase program on May 7. FDA-approved yield enhancements promise 20% output boost. Guidance jumps: FY25 revenue over $500 million, adjusted EBITDA over $235 million.
10-Q
Q1 FY2025 results
ADMA Biologics posted Q1 FY2025 revenue of $114.8M, up 40% y/y from $81.9M, fueled by ASCENIV's strong uptake despite a voluntary BIVIGAM lot withdrawal that trimmed $3.8M via credits. Gross profit climbed to $61.1M with margins expanding to 53.2% from 47.8%, thanks to a richer mix of high-margin IG sales and manufacturing tweaks. Operating income rose to $34.9M, while net income hit $26.9M or $0.11 diluted EPS on 244.7M shares, matching basic figures with no anti-dilution flagged. Cash dipped to $71.6M after $19.7M ops outflow from receivables timing, yet $75M debt (term at 10.8%, revolver at 8.1%, due 2027) stays covenant-compliant with $15M liquidity minimum. Post-quarter, FDA greenlit a yield-boost process for ASCENIV and BIVIGAM, eyeing 20% output gains from H2 2025. Competition from biosimilars could erode exclusivity down the line.
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