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Mar 31, 2021
ADMA Biologics Q1 2021 Earnings Report
ADMA Biologics reported first quarter 2021 financial results, highlighting a 57% increase in total revenues compared to the same period last year and a significant expansion of total asset value.
Key Takeaways
ADMA Biologics reported a strong first quarter in 2021, achieving record quarterly revenues of $16.0 million, a 57% increase over the same period last year. The company also narrowed both gross and net losses compared to the prior quarter and grew its total asset value to $235.7 million.
Total revenues for Q1 2021 reached $16.0 million, a 57% increase compared to Q1 2020.
The company narrowed net losses compared to the prior year period, primarily due to increased revenues and improved gross margins.
Total asset value grew to $235.7 million, including $94.1 million in inventories.
ADMA expects continued production ramp-up and quarter-over-quarter revenue growth throughout 2021.
Forward Guidance
ADMA Biologics anticipates a strong year of growth and achievements, remaining on track to deliver on several strategic and financial objectives with improving visibility on the path to profitability. They expect continued quarter-over-quarter revenue growth throughout 2021 and beyond.
Positive Outlook
- The FDA approval of the 4,400-liter IVIG plasma pool scale increase for BIVIGAM® will enable ADMA to potentially ramp-up to 600,000-liters of annual production throughput.
- The increase in production throughput should allow ADMA to realize meaningful gross margin improvement.
- ADMA will be able to offer BIVIGAM® in two vial sizes, both the 50 mL and 100 mL configurations.
- ADMA BioCenters remains on track to have 10 or more plasma collection facilities in operation by 2024.
- The two fiscal quarter extension of ADMA’s existing third-party plasma supply commitment to year-end 2022 is expected to further supplement ADMA’s growing internal plasma collections.
Challenges Ahead
- A facility site inspection (virtual or in-person per current published FDA guidance) will be required prior to approval of the installed VanRx SA25 Workcell aseptic fill-finish machine.
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