Kamada (KMDA) Corporate Presentation summary

Financial performance and growth

• 2025 revenue guidance set at $178–182M, with adjusted EBITDA guidance of $40–44M and a 15% CAGR since 2021.

• 9M 2025 revenue reached $135.8M, up 11% YoY; gross profit $59.4M, up 12%; adjusted EBITDA $34.2M, up 35%.

• Net profit for 9M 2025 was $16.6M, a 56% YoY increase; gross margin at 44%.

• Strong cash position of $72M as of September 2025; special dividend of $11.5M paid in April 2025.

• Total assets at $377.2M, equity at $265.2M, and net debt at -$2.4M.

Product portfolio and innovation

• Six FDA-approved specialty plasma products targeting rare and serious conditions, including KEDRAB, CYTOGAM, HEPGAM B, VARIZIG, WINRHO, and GLASSIA.

• First to develop FDA-approved liquid IV AAT therapy and advance inhaled AAT to pivotal Phase III.

• KEDRAB is a global leader in anti-rabies immune globulin, with $50M 2024 US revenue and minimum $135M US sales expected 2025–2027.

• GLASSIA royalties from Takeda projected at $10–20M annually; 2024 royalty income $17M, up 5% YoY.

• CYTOGAM 2024 revenue $23M, up 31% YoY, with continued growth expected.

Strategic initiatives and growth drivers

• Four pillars of growth: inhaled AAT pivotal study, plasma collection centers, M&A transactions, and organic growth.

• Inhaled AAT Phase III study targets a $2B+ market, with interim futility analysis planned by end of 2025.

• Three plasma collection centers in Texas; Houston and San Antonio centers expected to generate $8–10M each at peak.

• M&A strategy focused on synergistic products and leveraging strong financial position.

• Distribution segment in Israel expanding, with biosimilar portfolio expected to generate $15–20M annual sales within five years.