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ADMA Biologics, Inc., a biopharmaceutical company, develops, manufactures, and markets specialty plasma-derived biologics for the treatment of immune deficiencies and infectious diseases in the United States and internationally. The company operates through ADMA BioManufacturing and Plasma Collection Centers segments. The company offers BIVIGAM, an intravenous immune globulin (IVIG) product indicated for the treatment of primary humoral immunodeficiency (PI); ASCENIV, an IVIG product for the treatment of PI; and Nabi-HB, a human polyclonal antibody product for the treatment of acute exposure to blood containing Hepatitis B surface antigen and other listed exposures to Hepatitis B. It also develops a pipeline of plasma-derived therapeutics comprising products related to the methods of treatment and prevention of S. pneumonia infection for an immunoglobulin. In addition, the company operates source plasma collection facilities. The company sells its products through independent distributors, drug wholesalers, specialty pharmacies, and other alternate site providers. ADMA Biologics, Inc. was incorporated in 2004 and is headquartered in Ramsey, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $510M | $198M | $147M | $28M | 30.8% | 19.6% | -25.7% |
| 2024 | $426M | $148M | $198M | $110M | 56.6% | 65.2% | -800.0% |
| 2023 | $258M | $5M | $-28M | $4M | -20.9% | 67.6% | -57.2% |
| 2022 | $154M | $-40M | $-66M | $-73M | -43.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 154.08 | 258.21 | 426.45 | 510.17 |
| Operating Revenue | - | 154.08 | 258.21 | 426.45 | 510.17 |
| Cost Of Revenue | - | 118.82 | 169.27 | 206.90 | 217.41 |
| Gross Profit | - | 35.26 | 88.94 | 219.55 | 292.76 |
| Operating Expense | - | 74.63 | 67.31 | 80.57 | 101.32 |
| Research And Development | - | 3.61 | 3.30 | 1.81 | 4.76 |
| Selling General And Administration | - | 52.46 | 59.02 | 74.12 | 91.58 |
| Total Expenses | - | 193.44 | 236.58 | 287.47 | 318.73 |
| Operating Income | - | -39.36 | 21.63 | 138.98 | 191.44 |
| Total Operating Income As Reported | - | -39.36 | 21.63 | 138.98 | 191.44 |
| EBITDA | - | -39.51 | 5.12 | 147.69 | 197.86 |
| Normalized EBITDA | - | -32.84 | 31.29 | 148.93 | 201.20 |
| EBIT | - | -46.62 | -3.21 | 139.64 | 189.77 |
| Interest Income | - | 0.04 | 1.62 | 2.10 | 1.87 |
| Interest Expense | - | 19.28 | 25.03 | 13.93 | 7.11 |
| Net Interest Income | - | -19.23 | -23.41 | -11.83 | -5.24 |
| Other Non Operating Income Expenses | - | -0.64 | -0.29 | -0.19 | -0.21 |
| Other Income Expense | - | -7.30 | -26.46 | -1.44 | -3.55 |
| Interest Income Non Operating | - | 0.04 | 1.62 | 2.10 | 1.87 |
| Interest Expense Non Operating | - | 19.28 | 25.03 | 13.93 | 7.11 |
| Net Non Operating Interest Income Expense | - | -19.23 | -23.41 | -11.83 | -5.24 |
| Pretax Income | - | -65.90 | -28.24 | 125.71 | 182.66 |
| Tax Provision | - | 0 | 0 | -71.96 | 35.73 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -0.26 | -0.65 |
| Net Income Continuous Operations | - | -65.90 | -28.24 | 197.67 | 146.93 |
| Net Income From Continuing And Discontinued Operation | - | -65.90 | -28.24 | 197.67 | 146.93 |
| Net Income From Continuing Operation Net Minority Interest | - | -65.90 | -28.24 | 197.67 | 146.93 |
| Net Income | - | -65.90 | -28.24 | 197.67 | 146.93 |
| Net Income Common Stockholders | - | -65.90 | -28.24 | 197.67 | 146.93 |
| Net Income Including Noncontrolling Interests | - | -65.90 | -28.24 | 197.67 | 146.93 |
| Normalized Income | - | -59.23 | -2.06 | 198.65 | 149.61 |
| Diluted NI Availto Com Stockholders | - | -65.90 | -28.24 | 197.67 | 146.93 |
| Basic Average Shares | 139.58 | 197.87 | 223.98 | 233.08 | - |
| Diluted Average Shares | 139.58 | 197.87 | 223.98 | 243.34 | - |
| Reconciled Depreciation | - | 7.11 | 8.33 | 8.04 | 8.10 |
| Reconciled Cost Of Revenue | - | 112.42 | 161.66 | 199.24 | 209.46 |
| Total Unusual Items | - | -6.67 | -26.17 | -1.24 | -3.34 |
| Total Unusual Items Excluding Goodwill | - | -6.67 | -26.17 | -1.24 | -3.34 |
| Special Income Charges | - | -6.67 | -26.17 | -1.24 | -3.34 |
| Other Special Charges | - | 6.67 | 26.17 | 1.24 | 3.34 |
| Depreciation Amortization Depletion Income Statement | - | 0.72 | 0.72 | 0.39 | 0.14 |
| Depreciation And Amortization In Income Statement | - | 0.72 | 0.72 | 0.39 | 0.14 |
| Other Operating Expenses | - | 17.84 | 4.27 | 4.24 | 4.84 |
| Amortization | - | 0.72 | 0.72 | 0.39 | 0.14 |
| Amortization Of Intangibles Income Statement | - | 0.72 | 0.72 | 0.39 | 0.14 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ADMA Biologics, Inc.this co. | ADMA | $1.8B | 12.59 | 3.87 | 30.8% | 9.31 |
| TransMedics Group, Inc. | TMDX | $2.5B | 12.96 | 5.21 | 40.2% | 16.82 |
| Acadia Healthcare Company, Inc. | ACHC | $2.3B | -2.10 | 1.19 | -56.6% | -6.55 |
| Prestige Consumer Healthcare Inc. | PBH | $2.2B | 11.31 | 1.14 | 10.1% | 9.47 |
| LeMaitre Vascular, Inc. | LMAT | $2.1B |
| - |
| - |
| - |
| - |
| - |
| 37.03 |
| 5.43 |
| 14.7% |
| 25.28 |
| Select Medical Holdings Corporation | SEM | $2.0B | 13.99 | 1.20 | 8.6% | 9.20 |
| Neogen Corporation | NEOG | $2.0B | -1.82 | 0.96 | -52.7% | -2.94 |
| Sarepta Therapeutics, Inc. | SRPT | $1.8B | -2.47 | 1.54 | -62.5% | -3.22 |
| Phibro Animal Health Corporation | PAHC | $1.3B | 27.77 | 4.69 | 16.9% | 13.79 |
| Peer Median | - | 12.14 | 1.37 | 9.3% | 9.33 | |