Core Insights - ADMA Biologics, Inc. reported preliminary unaudited total revenue for FY 2025 of approximately $510–511 million, meeting or exceeding prior guidance [1] - The company reiterated its FY 2025 adjusted EBITDA and adjusted net income guidance, with cash holdings at year-end 2025 growing to approximately $88 million [1][5] - For FY 2026 and FY 2027, ADMA expects revenues of approximately $635 million and $775 million, respectively, with adjusted net income projected at approximately $255 million and $315 million [1][5] Financial Performance - FY 2025 total revenue is estimated at approximately $510–511 million, with adjusted net income and adjusted EBITDA guidance reiterated [1][5] - FY 2026 total revenue is expected to increase to approximately $635 million, up from a previous estimate of $630 million, with adjusted EBITDA also revised upward to approximately $360 million from $355 million [5] - FY 2027 total revenue is projected at approximately $775 million, with adjusted net income and adjusted EBITDA expected to be approximately $315 million and $455 million, respectively [5] Growth Projections - ADMA targets greater than $1.1 billion in annual revenue by FY 2029, representing a compound annual growth rate (CAGR) of approximately 20% [1] - The company aims for greater than $700 million in adjusted EBITDA by FY 2029, indicating a CAGR of approximately 30% [1] Operational Developments - 2026 is expected to be ADMA's first full year of yield-enhanced production, which is anticipated to support sustained margin expansion [1][2] - The strategic repositioning of the plasma collection network is expected to enhance margins and strengthen long-term supply visibility [1][2] Market Dynamics - Record demand for ASCENIV is anticipated to continue, driven by payer coverage expansion and increasing confidence in long-term plasma supply availability [2][5] - Positive real-world outcomes for ASCENIV are expected to be presented at the CIS in May 2026, with additional data anticipated throughout 2026 [1][5] Pipeline and Future Initiatives - The SG-001 pipeline program is advancing, with an anticipated FDA pre-IND submission in 2026 [1][5] - Ongoing share repurchases and capital structure strengthening are aimed at enhancing stockholder value [1][5]