ADMA Biologics Q2 2020 Earnings Report
Key Takeaways
ADMA Biologics reported a 19% increase in revenue for Q2 2020 compared to Q2 2019, totaling $7.8 million. However, the company experienced a net loss of $20.2 million, primarily due to increased costs of product revenue, research and development expenses, and selling, general, and administrative expenses. The company also faced supply chain disruptions due to the COVID-19 pandemic, which have since been resolved.
Total revenues for the quarter ended June 30, 2020 were $7.8 million, compared to $6.6 million for the quarter ended June 30, 2019, representing an increase of approximately 19%.
The increase is primarily due to sales of BIVIGAM, ASCENIV and intermediates, compared to no sales from these products during the same prior year period.
Consolidated net loss for the quarter ended June 30, 2020 was $20.2 million, or $(0.23) per basic and diluted share, compared to a consolidated net loss of $13.2 million, or $(0.25) per basic and diluted share, for the quarter ended June 30, 2019.
The increase in net loss of $7.0 million was primarily due to increased cost of product revenue of $3.0 million related to sales of FDA-approved immunoglobulin products not present in the same prior year period.
ADMA Biologics
ADMA Biologics
Forward Guidance
ADMA Biologics anticipates generating $250 million or more in annual revenues within the next three to five calendar years.