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ADMA Biologics (ADMA) investor relations material
ADMA Biologics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Achieved Q3 2025 revenue of $134.2M, up 12% year-over-year and 10% quarter-over-quarter, driven by record ASCENIV demand and favorable product mix.
GAAP net income reached $36.4M, up 6% quarter-over-quarter and 1% year-over-year; adjusted EBITDA grew 29% year-over-year to $58.7M.
Gross margin expanded to 56.3% from 49.8% last year, reflecting operational efficiencies and higher-margin product sales.
FDA lot release of first yield-enhanced production batches marks a major inflection point, expected to drive sustained gross margin expansion from Q4 2025 onward.
Completed $12.6M facility expansion and Boca Raton real estate acquisition to support production and storage capacity.
Financial highlights
Q3 2025 revenue: $134.2M, up 12% year-over-year; 9M 2025 revenue: $371.0M.
Gross margin improved to 56.3% in Q3 2025; product-level gross margins reached 63.7% excluding plasma sale.
Q3 2025 net income: $36.4M; adjusted EBITDA: $58.7M; EPS (diluted): $0.15.
Cash and cash equivalents at 9/30/25: $61.4M; working capital: $346.2M.
Share repurchases of $23M completed in Q3 2025; $13.8M plasma sale at negative margin to optimize working capital.
Outlook and guidance
FY 2025 revenue guidance raised to at least $510M; adjusted net income to $158M; adjusted EBITDA to $235M.
FY 2026 revenue guidance increased to at least $630M; adjusted net income >$255M; adjusted EBITDA >$355M.
2029 revenue expected to exceed $1.1B, excluding potential SG-001 contributions.
Expect meaningful revenue and earnings accretion from yield enhancement process starting Q4 2025 and into 2026.
Current cash, receivables, and projected cash flow expected to fund operations through at least Q3 2026.
Expected gross margin expansion drivers
SG-001 program's market potential and timeline
Standard IVIG market dynamics and BIVIGAM
ASCENIV data: Payer/prescriber behavior changes?
Gross margin target of +70% in 2026: How?
SG-001: Key de-risking milestones and timeline?
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Next ADMA Biologics earnings date
Q4 20253 Mar, 2026
Next ADMA Biologics earnings date
Q4 20253 Mar, 2026
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Frequently asked questions
ADMA Biologics Inc. is a biopharmaceutical company specializing in the development, manufacturing, and commercialization of plasma-derived products. The company focuses on producing and marketing therapies for patients with immune deficiencies and other immune-compromised conditions. ADMA Biologics' product portfolio includes immunoglobulin therapies that help prevent infections in individuals with weakened immune systems. In addition to developing its own products, the company operates plasma collection centers to support its manufacturing needs and ensure a stable supply of raw materials. The company is headquartered in Ramsey, New Jersey, and its shares are listed on the Nasdaq Stock Market.
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