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Jun 30, 2024
ADMA Biologics Q2 2024 Earnings Report
ADMA Biologics' Q2 2024 financial performance was marked by significant revenue and earnings growth, driven by increased sales of ASCENIV and a favorable product mix, leading to upwardly revised financial guidance for 2024 and 2025.
Key Takeaways
ADMA Biologics reported a strong second quarter in 2024, with a 78% increase in total revenue to $107.2 million and a net income of $32.1 million, driven by increased sales of ASCENIV and a favorable product mix. The company's adjusted EBITDA reached $44.5 million, and based on this performance, ADMA has increased its financial guidance for 2024 and 2025.
Total revenue for Q2 2024 reached $107.2 million, a 78% increase year-over-year.
GAAP net income for Q2 2024 was $32.1 million, a $38.4 million increase year-over-year.
Adjusted EBITDA for Q2 2024 was $44.5 million, representing a nearly 600% increase year-over-year.
The company increased its full-year 2024 revenue guidance to over $400 million and net income guidance to over $105 million.
ADMA Biologics
ADMA Biologics
Forward Guidance
ADMA Biologics has upwardly revised its financial guidance for FY 2024 and 2025. Total revenue is now expected to be more than $400 million and $445 million, respectively. Net income is projected to exceed $105 million and $155 million, respectively. Adjusted EBITDA is anticipated to surpass $150 million and $200 million, respectively.
Positive Outlook
- Total revenue is now expected to be more than $400 million and $445 million for FY 2024 and 2025, respectively.
- Net income is now expected to exceed $105 million and $155 million for FY 2024 and 2025, respectively.
- Adjusted EBITDA is now expected to exceed $150 million and $200 million for FY 2024 and 2025, respectively.
- Commercial-scale production of ADMA’s innovative biologics manufacturing process demonstrated a potential enhancement of yields by approximately 20% from the same starting plasma.
- The ongoing post-marketing pediatric clinical study for ASCENIV may provide label expansion opportunities.
Challenges Ahead
- Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially.
- There can be no assurance that the forward-looking statements included in this press release will prove to be accurate.
- The company's yield enhancement initiative may not be successful.
- The R&D program targeting S. pneumoniae may not be successful.
- The ASCENIV label expansion may not be successful.