ADMA Biologics Announces Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update

Financial Performance - Total revenue for FY 2024 reached $426.5 million, marking a 65$258.2 million in FY 2023 [14][16] - GAAP net income for FY 2024 was $197.7 million, a significant turnaround from a net loss of$28.2 million in FY 2023 [16] - Adjusted EBITDA for FY 2024 was $164.6 million, reflecting a 309$40.2 million in FY 2023 [17] - Adjusted net income for FY 2024 was $119.2 million, a dramatic rise from$0.7 million in FY 2023, representing a 16,810% increase [17] Cash Flow and Balance Sheet - Year-end 2024 total cash grew to over $103 million, including$60 million of debt that was organically discharged during the second half of 2024 [18] - The company generated approximately $48 million in operating cash flow in Q4 2024, contributing to a strong cash position [7] Future Guidance - Total revenue guidance for FY 2025 and 2026 has been increased to more than$490 million and $605 million, respectively [4] - Adjusted net income guidance for FY 2025 and 2026 has been raised to more than$175 million and $235 million, respectively [4] - Adjusted EBITDA guidance for FY 2025 and 2026 has been increased to more than$225 million and $305 million, respectively [7] Strategic Developments - The company anticipates generating over$1 billion in total annual revenue prior to 2030, more than doubling the current 2025 revenue forecast [2] - Long-term high-titer plasma supply contracts are expected to provide a foundation for durable ASCENIV revenue growth through the late 2030s [3][7] - FDA approval of a yield enhancement production process is anticipated by mid-2025, which could increase production yields by approximately 20% [3][7] Market Position and Product Demand - ASCENIV demand is projected to drive record highs into 2025, with expectations for increased penetration in the complex and refractive primary immunodeficiency (PI) target market [7] - The company has executed long-term high-titer plasma supply contracts, significantly increasing access to raw material plasma used for ASCENIV production [7]