Kamada (KMDA) Small-Cap Virtual Conference summary

Financial performance and growth

• Achieved double-digit annual growth, with 2026 revenue guidance of $200–$205 million and EBITDA of $50–$53 million, reaching $100 million revenue and $26 million EBITDA in the first half of 2026.

• Average annual growth rate of 14% over recent years, with significant increases in revenue, EBITDA, EPS, and operating cash flow.

• Paid $0.42 per share in dividends in 2026, with a policy to distribute at least 50% of net profit, while maintaining capacity for M&A.

• Strong cash generation, with $18 million from operations in the first six months of 2026.

• Diverse revenue streams from specialty plasma therapies, distribution, plasma sales, and M&A.

Business operations and strategy

• Operates in over 40 countries, with commercial teams in the U.S., Middle East, and Israel, and a network of distributors elsewhere.

• Four growth pillars: expanding specialty plasma therapy sales, in-licensing, plasma sales, and M&A.

• Owns three plasma collection centers in Texas, supplying both internal production and third-party clients.

• Recently secured a $50 million plasma sales agreement, starting before year-end 2026.

• Distribution business expanded from Israel to the MENA region, with biosimilar launches and incremental sales expected.

Product portfolio and market position

• Six FDA-approved plasma-derived products, including Kedrab (anti-rabies), GLASSIA (alpha-1 antitrypsin), and CYTOGAM (CMV immunoglobulin).

• Holds about 50% U.S. market share for Kedrab, with increased demand due to rising rabies exposure.

• GLASSIA generates royalties from Takeda in North America and direct sales elsewhere, with double-digit growth expected.

• CYTOGAM supported by the SHIELD Study, with data expected in 2028 to drive further U.S. growth.

• Competitive edge in specialty plasma, often as sole supplier, with innovative ready-to-use formulations.