ADMA Biologics reports Q3 EPS 1c, consensus 1c

Reports Q3 revenue $67.3M, consensus $62.12M…”ADMA advanced its position during the third quarter to become one of the fastest growing, profitable BioPharma companies in the United States. We achieved remarkable results, increasing Adjusted EBITDA by 98% quarter-over-quarter to reach $12.7 million, and realizing two significant milestones: first-time net income profitability, which reached $2.6 million, and first-time positive operating cash flow, which reached $12.0 million,” said Adam Grossman, President and Chief Executive Officer of ADMA. “We believe ADMA’s success is deeply rooted in our innovative business model and unwavering focus on the underserved immune deficient patient populations. While our penetration in this patient segment is encouraging and continues to strengthen, we believe that we are only in the very early stages relative to the potential size of this addressable market.” Mr. Grossman continued, “The momentum we have established in 2023 has given us the confidence to raise our total revenue guidance again, for full years 2023, 2024, and 2025. With ADMA’s cash holdings growing to $74.2 million during the third quarter and Adjusted EBITDA annualizing at more than $50.0 million, we have established a strong foundation from which we anticipate continuous growth in both revenues and profits at a compounding rate. Further, our ongoing and progressing corporate initiatives, particularly those focused on manufacturing yield enhancement, hold the potential to further accelerate ADMA’s growth outlook and peak earnings. We look forward to advancing what we believe will become one of the most durable earnings outlooks in the BioPharma industry.”