ADMA Biologics

ADMA Q1 2025 Earnings

Reported May 7, 2025 at 4:12 PM ET · SEC Source

Q1 25 EPS

$0.11

MISS 15.38%

Est. $0.13

Q1 25 Revenue

$114.8M

MISS 1.37%

Est. $116.4M

vs S&P Since Q1 25

-91.6%

TRAILING MARKET

ADMA -61.6% vs S&P +30.0%

Market Reaction

Did ADMA Beat Earnings? Q1 2025 Results

ADMA Biologics delivered a quarter of sharp top-line growth but came in just shy of Wall Street's expectations, sending shares lower despite a year that has otherwise rewarded investors handsomely. The Boca Raton-based plasma therapeutics company pos… Read more ADMA Biologics delivered a quarter of sharp top-line growth but came in just shy of Wall Street's expectations, sending shares lower despite a year that has otherwise rewarded investors handsomely. The Boca Raton-based plasma therapeutics company posted Q1 2025 revenue of $114.80 million, up 40.2% year-over-year but trailing the $116.40 million consensus by 1.37%, while GAAP diluted EPS of $0.11 missed the $0.13 estimate by 15.38%. The shortfall was tied in part to a one-time impact from voluntary product withdrawals; on an adjusted basis, total revenue reached $118.64 million, reflecting roughly 45% year-over-year growth. Gross margin expanded meaningfully to 53.2% from 47.8% a year ago, driven by a richer mix of higher-margin immunoglobulin sales. Offsetting the near-term miss, management raised full-year 2025 revenue guidance to more than $500.00 million and set a 2026 target of $625.00 million or more, with a longer-term pre-2030 annual revenue goal lifted to $1.10 billion, supported by FDA approval of a yield enhancement process expected to boost finished immunoglobulin output by 20% from the same plasma volume.

Key Takeaways

  • Increased sales of ASCENIV driven by increased physician, payer and patient acceptance and utilization
  • More favorable mix of higher margin IG sales
  • Operational efficiencies resulting in reduction of manufacturing costs
  • Lower interest expense due to debt optimization
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ADMA YoY Financials

Q1 2025 vs Q1 2024, source: SEC Filings

24/7 Wall St

ADMA Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 25 Q1 26

“The start to 2025 has been a transformational period for ADMA, with the recent U.S. Food and Drug Administration (FDA) approval of our yield enhancement production process, which we believe paves the way for meaningful forward looking revenue growth and margin expansion, ultimately creating durable stockholder value. ADMA delivered outstanding financial and operational results in the first quarter of 2025, with total reported revenues and Adjusted EBITDA growing by 40% and 81% year-over-year, respectively.”

— Adam Grossman, Q1 2025 Earnings Press Release