ADMA Biologics(ADMA) - 2025 Q1 - Quarterly Results

Financial Performance - 1Q 2025 total revenue reached $114.8 million, a 40% year-over-year increase from $81.9 million in 1Q 2024[1][7] - Adjusted total revenue for 1Q 2025 was $118.6 million, representing approximately 45% year-over-year growth when excluding one-time product withdrawals[1][7] - GAAP net income for 1Q 2025 was $26.9 million, a 51% increase compared to $17.8 million in 1Q 2024[1][9] - Adjusted EBITDA for 1Q 2025 was $47.9 million, reflecting an 81% year-over-year growth from $26.4 million in 1Q 2024[1][10] - Total revenue for Q1 2025 was $114.8 million, a 40.2% increase from $81.9 million in Q1 2024[21] - Gross profit for Q1 2025 was $61.1 million, compared to $39.1 million in Q1 2024, reflecting a significant improvement in profitability[21] - Adjusted revenues for Q1 2025, including customer credits related to the Voluntary Withdrawal, were $118.6 million[22] - Net income for Q1 2025 was $26.9 million, up from $17.8 million in Q1 2024, representing a 51.5% year-over-year increase[21] - Adjusted EBITDA for Q1 2025 was $47.9 million, compared to $26.4 million in Q1 2024, indicating strong operational performance[24] - The company reported a basic earnings per share of $0.11 for Q1 2025, up from $0.08 in Q1 2024[21] Guidance and Projections - FY 2025 total revenue guidance increased to more than $500 million, with FY 2026 guidance raised to over $625 million[2][5] - FY 2025 adjusted net income guidance reaffirmed at $175 million or more, while FY 2026 adjusted net income guidance increased to $245 million[2][5] - Anticipated total annual revenues prior to 2030 are now projected to exceed $1.1 billion, with expected outsized earnings growth[2][5] Cash and Assets - Total cash and receivables grew to approximately $171 million by the end of 1Q 2025[1][4] - Cash and cash equivalents decreased to $71.6 million as of March 31, 2025, from $103.1 million at the end of 2024[19] - Total assets increased to $510.6 million as of March 31, 2025, compared to $488.7 million at the end of 2024[19] Shareholder Actions - The company authorized a $500 million share repurchase program, representing approximately 8% of its current market capitalization[2][4] Operational Enhancements - The FDA approved a yield enhancement process expected to increase production output by 20% from the same starting plasma volume[2][4] - The company plans to further pay down its outstanding debt, with senior notes payable at $72.5 million[19] - The company is focused on expanding its plasma supply agreements to enhance ASCENIV's growth and financial performance[21]