Core Viewpoint - Kamada Ltd. has received a tax ruling from the Israel Tax Authority regarding a cash dividend of $0.25 per share, totaling approximately $14.4 million, which is set to be paid on April 7, 2026, to shareholders of record as of March 23, 2026 [1] Tax Ruling and Dividend Details - The tax ruling allows eligible Nasdaq shareholders from countries with a tax treaty with Israel to benefit from a reduced withholding tax rate on the dividend [2] - Israeli corporate shareholders may qualify for an exemption from Israeli withholding tax under the ruling [2][6] Withholding Tax Procedures - The current Israeli withholding tax rate is 30% for substantial shareholders and 25% for other shareholders [5] - On the payment date, 25% of the dividend will be withheld and remitted to the tax agent, with the remaining 75% distributed to shareholders [6] - Nasdaq shareholders must submit required documentation to the tax agent by May 9, 2026, to claim the reduced withholding tax rate [6][9] Documentation Requirements - Required documentation includes bank account details, identification, proof of residency, and declarations regarding share ownership and tax residency [6][7] - Non-Israeli corporate shareholders must provide additional documentation regarding their shareholders or partners [7][13] Company Overview - Kamada Ltd. is a global biopharmaceutical company focused on rare and serious conditions, with a portfolio of FDA-approved specialty plasma-derived products [11] - The company aims for growth through organic expansion, distribution partnerships, plasma collection operations, and potential mergers and acquisitions [11]

Core Insights - The U.S. FDA has approved Kamada Ltd.'s plasma collection center in San Antonio, Texas, allowing it to commence commercial sales of normal source plasma [1][2][3] - The San Antonio facility is designed to support up to 50 donor beds and has a planned capacity of approximately 50,000 liters of plasma per year, making it one of the largest specialty plasma collection centers in the U.S. [2][6] - The center is expected to generate annual revenues between $8 million to $10 million at full capacity [3][6] Company Overview - Kamada Ltd. is a global biopharmaceutical company focused on rare and serious conditions, with a portfolio that includes six FDA-approved specialty plasma-derived products [4] - The company is controlled by FIMI Opportunity Funds, which owns approximately 38% of its outstanding shares [4] - Kamada's growth strategy includes organic growth of its commercial portfolio, distribution of third-party pharmaceutical products, ramping up plasma collection operations, and pursuing mergers and acquisitions [4] Operational Capacity - The San Antonio center adds to Kamada's existing three FDA-approved plasma collection centers located in Beaumont, Houston, and San Antonio, enhancing its capacity for specialty and normal source plasma collection [3][4] - The facility is structured to collect both normal source plasma and specialty plasma, including anti-rabies and anti-D plasma [6]

Core Viewpoint - Kamada Ltd. reported strong financial performance for 2025, achieving record revenues and adjusted EBITDA, and is optimistic about continued growth in 2026 with affirmed guidance [2][5][10]. Financial Performance - Total revenues for 2025 were $180.5 million, a 12% increase from $161.0 million in 2024 [6]. - Adjusted EBITDA for 2025 was $42.0 million, reflecting a 23% increase from $34.1 million in 2024 [5][13]. - Net income for 2025 was $20.2 million, a 40% increase compared to $14.5 million in 2024 [5][6]. - The company generated $25.5 million in cash from operating activities in 2025, contributing to a cash position of $75.5 million at year-end [2][5]. 2026 Guidance - Kamada affirmed its 2026 annual guidance, projecting revenues between $200 million and $205 million, and adjusted EBITDA between $50 million and $53 million, representing year-over-year growth of 13% and 23% respectively [2][10][19]. Strategic Focus - The company plans to expand its commercial product portfolio, invest in the commercialization of FDA-approved specialty plasma-derived products, and grow its Distribution segment through new biosimilar products [3][19]. - Kamada aims to enhance plasma collection operations to support revenue growth and reduce costs [3][19]. - The company is also looking to secure new business development and M&A transactions to accelerate profitable growth and enrich its product portfolio [5][19]. Dividend Policy - Kamada adopted an annual cash dividend policy, declaring a cash dividend of $0.25 per share, totaling approximately $14.4 million, to be paid on April 6, 2026 [5][14]. Recent Developments - The company announced a $10 million to $14 million extension of an existing tender with Canadian Blood Services for the supply of specialty plasma-derived products [14]. - Kamada discontinued its Phase 3 Inhaled AAT clinical trial [14].

Core Viewpoint - Kamada Ltd. reported record revenue and profitability for the full year 2025 and declared a cash dividend of $0.25 per share, totaling approximately $14.4 million, to be paid on April 6, 2026 [1][2][3] Financial Performance - The company announced strong financial results for 2025, which supported the decision to distribute a cash dividend [3] - The cash dividend represents at least 50% of the company's annual net income, as per the newly adopted annual cash dividend policy [2] Dividend Policy - The Board of Directors has adopted a policy to distribute an annual dividend of at least 50% of net income, subject to discretion and legal requirements [2] - The dividend payment will be subject to tax withholding in accordance with Israeli tax law [3] Company Overview - Kamada Ltd. is a global biopharmaceutical company focused on rare and serious conditions, with a portfolio of specialty plasma-derived products [4] - The company is controlled by FIMI Opportunity Funds, which owns approximately 38% of the outstanding shares [4] Growth Strategy - Kamada's growth strategy includes organic growth of its commercial portfolio, distribution of third-party pharmaceutical products, ramping up plasma collection operations, and pursuing mergers and acquisitions [4] - The company aims to enhance its marketed products portfolio and leverage its financial strength for long-term growth [4]

Core Viewpoint - Kamada Ltd. is set to release its financial results for Q4 and the fiscal year ending December 31, 2025, on March 11, 2026, before U.S. market opening [1] Company Overview - Kamada Ltd. is a global biopharmaceutical company specializing in products for rare and serious conditions, particularly in the specialty plasma-derived therapies field [3] - The company is controlled by FIMI Opportunity Funds, which owns approximately 38% of its outstanding shares [3] Growth Strategy - Kamada's growth strategy focuses on four primary pillars: 1. Organic growth of its specialty plasma therapies portfolio, including six FDA-approved products: KEDRAB®, GLASSIA®, CYTOGAM®, VARIZIG®, WINRHO SDF®, and HEPAGAM B®, along with KAMRAB® and equine-based anti-snake venom products [3] 2. Distribution of third-party pharmaceutical products in Israel and MENA through in-licensing partnerships, including the launch of several biosimilar products [3] 3. Expansion of plasma collection operations to support revenue growth from the sale of normal source plasma and meet the demand for hyper-immune plasma, with three operating centers in Texas [3] 4. Pursuit of mergers, acquisitions, and collaborations to enhance its product portfolio and leverage financial strength for long-term growth [3]

Core Viewpoint - Kamada Ltd. forecasts continued double-digit profitable growth for 2026, projecting revenues of $200 million - $205 million and adjusted EBITDA of $50 million - $53 million, based on organic growth of its commercial products portfolio [1][5][9] Financial Guidance - The 2026 guidance represents a year-over-year increase of 13% in revenues and 23% in adjusted EBITDA compared to the mid-points of 2025 guidance [1][5] - Kamada affirms its 2025 financial guidance of $178 million - $182 million in revenues and $40 million - $44 million in adjusted EBITDA, with an expected year-end cash of approximately $75 million [1][5][9] Business Development and Growth Strategy - The company aims to drive growth through the expansion of its commercial product portfolio, including increased U.S. sales and sales of key products like KAMRAB®, GLASSIA®, HEPAGAM®, and VARIZIG® in international markets [2][3] - Kamada plans to enhance its Distribution segment by launching additional biosimilar products in Israel and expanding into the MENA region, alongside initial sales of normal source plasma collected in Texas [2][3] - The company is focused on identifying new business development and M&A opportunities to enrich its product portfolio and generate operational synergies [3][8] Operational Strength - Kamada emphasizes its ability to convert adjusted EBITDA into operational cash consistently, indicating strong financial health [2] - The company operates three plasma collection centers in the U.S. to support revenue growth through the sale of normal source plasma and to meet increasing demand for hyper-immune plasma [8]

Core Viewpoint - Kamada Ltd. has secured a two-year extension of a tender from Canadian Blood Services for the supply of four specialty plasma-derived products, valued between $10 million to $14 million, ensuring ongoing sales in the Canadian market from Q2-26 to Q1-28 [1][4]. Group 1: Company Performance and Financial Guidance - The tender extension is expected to secure ongoing sales of approximately $5 million to $7 million per year during the contract period [5]. - Kamada has reiterated its full-year 2025 revenue guidance of $178 million to $182 million and adjusted EBITDA guidance of $40 million to $44 million [2][5]. - The company projects double-digit growth in revenues and profitability for 2026, supported by its robust commercial portfolio and expansion of normal source plasma sales [2][5]. Group 2: Strategic Positioning and Future Outlook - The CEO of Kamada emphasized the company's leading position in the specialty plasma-derived products market in Canada and expressed confidence in the commercial potential of its AAT and specialty immunoglobulin portfolio in international markets [2][5]. - The company aims to pursue additional contracts in key strategic territories to enhance its market presence [2][5]. - Kamada's growth strategy includes organic growth from commercial activities, securing new business development opportunities, and expanding plasma collection operations to support revenue growth [3].

Core Insights - Kamada Ltd. announced the discontinuation of the Phase 3 InnovAATe trial for Inhaled AAT due to an interim futility analysis indicating low likelihood of achieving statistically significant benefits in lung function [1][5] - The company remains committed to supporting the Alpha-1 Antitrypsin Deficiency (AATD) community through its existing product GLASSIA and is focused on future growth prospects despite the trial's outcome [2][5] Financial Guidance - Kamada reiterated its full-year 2025 revenue guidance of $178 million to $182 million and adjusted EBITDA guidance of $40 million to $44 million [2][5] - The company projects double-digit growth in revenues and profitability for 2026, with detailed guidance to be provided in January 2026 [2][5] Business Strategy - Kamada's growth strategy includes organic growth from its commercial activities, business development opportunities, and expansion of plasma collection operations [4][6] - The company currently operates three plasma collection centers in the U.S. and aims to enhance its marketed products portfolio through potential collaborations and acquisitions [4][6] Company Overview - Kamada is a global biopharmaceutical company specializing in products for rare and serious conditions, particularly in the specialty plasma-derived therapies field [4][6] - The company is controlled by FIMI Opportunity Funds, which owns approximately 38% of its outstanding shares [6]

Core Insights - Kamada Ltd. reported strong financial results for the third quarter and the first nine months of 2025, with total revenues of $135.8 million, an 11% year-over-year increase, and adjusted EBITDA of $34.2 million, up 35% year-over-year [2][6][11]. Financial Performance - Third quarter revenues reached $47.0 million, a 13% increase from $41.7 million in the same quarter of 2024 [6][7]. - Gross profit for the third quarter was $19.8 million, with a gross margin of 42%, compared to $17.2 million and 41% in the prior year [7]. - For the first nine months of 2025, gross profit was $59.4 million, with a gross margin of 44%, up from $52.9 million and 43% in the same period of 2024 [11][12]. - Net income for the first nine months was $16.6 million, or $0.29 per diluted share, a 56% increase from $10.7 million, or $0.18 per diluted share, in the same period of 2024 [11][12]. Operational Highlights - The company generated $17.9 million in cash from operating activities during the first nine months of 2025, contributing to a cash position of $72.0 million as of September 30, 2025 [2][9]. - Kamada continues to invest in plasma collection operations, recently receiving FDA approval for its Houston facility, which is expected to be one of the largest collection centers for specialty plasma in the U.S. [4][12]. - The company is advancing its pivotal Phase 3 InnovAATe clinical trial for inhaled Alpha-1 Antitrypsin therapy, with an interim futility analysis expected by the end of 2025 [4][11]. Strategic Initiatives - Kamada is focused on expanding its product portfolio and securing long-term sales agreements for normal source plasma [4][12]. - The company has launched a comprehensive post-marketing research program for CYTOGAM® to support its benefits in managing cytomegalovirus (CMV) in solid organ transplantation [3][12]. - The company reiterated its full-year 2025 revenue guidance of $178 million to $182 million and adjusted EBITDA guidance of $40 million to $44 million, indicating a positive outlook for the remainder of the year [2][11].

Core Insights - Kamada Ltd. will release its financial results for Q3 and the nine months ending September 30, 2025, on November 10, 2025, before U.S. market opening [1] - An investment community conference call will be held on the same day at 8:30 AM ET to discuss the results and answer questions [2] Company Overview - Kamada Ltd. is a global biopharmaceutical company focused on rare and serious conditions, specializing in plasma-derived therapies [3] - The company has a portfolio of six FDA-approved specialty plasma-derived products and is expanding its product offerings through biosimilars and new business development opportunities [3] - Kamada operates three plasma collection centers in Texas, supporting revenue growth through the sale of normal source plasma and hyper-immune plasma [3] - The company is advancing its lead product candidate, Inhaled AAT, through the InnovAATe clinical trial, a pivotal Phase 3 trial [3] - FIMI Opportunity Funds is the controlling shareholder, owning approximately 38% of the outstanding ordinary shares [3]