ADMA Biologics Q1 2020 Earnings Report
Key Takeaways
ADMA Biologics reported a strong first quarter in 2020, with total revenues increasing by 189% compared to the same period in 2019. The company's net loss increased due to investments in production capacity and commercial infrastructure. ADMA ended the quarter with a strong cash position due to a successful public offering.
Total revenues for Q1 2020 were $10.2 million, a 189% increase compared to Q1 2019.
The revenue increase was primarily driven by increased sales and production of immunoglobulin products from the Boca Facility.
Consolidated net loss for Q1 2020 was $19.2 million, or $(0.26) per share, compared to a net loss of $13.1 million, or $(0.28) per share, for Q1 2019.
ADMA completed an underwritten public offering in February 2020, resulting in net proceeds of $88.7 million, strengthening the balance sheet.
ADMA Biologics
ADMA Biologics
Forward Guidance
ADMA anticipates positive changes due to increased raw material plasma collection, expanded production capacity, and aseptic filling capability, potentially lowering costs, improving gross margins, and providing more flexibility.
Positive Outlook
- Potentially lowering costs
- Improving gross margins
- Providing more flexibility with a reduction to batch production cycle time
- Giving ADMA additional end-to-end control
- Increased raw material plasma collection, expanded production capacity and aseptic filling capability