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Dec 31, 2025
ADMA Biologics Q4 2025 Earnings Report
ADMA Biologics Q4 2025 Earnings Report
Key Takeaways
ADMA Biologics delivered record fourth-quarter results, driven by strong demand for ASCENIV and the successful integration of yield-enhanced production. The company achieved significant margin expansion and reiterated its long-term growth targets through 2029.
Q4 2025 total revenue increased 18% year-over-year to $139.2 million.
Corporate gross margins reached 63.8% in Q4 2025, a significant increase from the prior year.
Adjusted EBITDA for the quarter grew 52% year-over-year to $73.6 million.
The company is transitioning to a new CFO and divesting three plasma centers to optimize capital efficiency.
Revenue by Segment
Forward Guidance
ADMA reiterated its long-term financial outlook, projecting significant growth in revenue and EBITDA through 2029.
Positive Outlook
- FY 2026 total revenue expected to exceed $635 million.
- FY 2026 Adjusted EBITDA expected to exceed $360 million.
- Targeting greater than $1.1 billion in annual revenue by 2029.
- Expected material increases in earnings power from yield-enhanced production.
- Anticipated FDA pre-IND meeting for SG-001 pipeline program in 2026.
Challenges Ahead
- Potential risks associated with the transition of the Chief Financial Officer.
- Dependence on continued high-titer plasma supply from third-party providers.
- Exposure to regulatory risks and FDA lot release timing.
- Market competition within the IVIG and specialty biologics space.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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