Q2 2024 ADMA Biologics Inc Earnings Call Transcript
Key Points
- ADMA Biologics Inc (ADMA) achieved a milestone by surpassing $100 million in revenue during a single calendar quarter, with total revenues growing by 78% year-over-year to $107.2 million.
- The company reported a significant increase in adjusted EBITDA, reaching $44.5 million, representing nearly 600% growth year-over-year.
- GAAP net income grew to $32.1 million during the second quarter, compared to a GAAP net loss of $6.4 million in the same period last year.
- ADMA Biologics Inc (ADMA) revised its financial guidance upwards, anticipating total revenue of more than $400 million for 2024 and $445 million for 2025.
- ASCENIV, a proprietary immunoglobulin, now contributes over 50% to ADMA's total revenue, marking a significant milestone for the company.
- The quarter's financial results were favorably impacted by a one-time accrual reversal, which is non-recurring in nature.
- ASCENIV's current market penetration is less than 3% of the total addressable population, indicating a need for increased market reach.
- The company's growth is constrained by its ability to collect more plasma, which is essential for meeting the outsized demand for ASCENIV.
- Yield enhancement initiatives for ASCENIV and BIVIGAM are subject to further regulatory evaluation and review, which could delay potential benefits.
- Despite the impressive growth, the company acknowledges that there is still much work to be done to reach more patients who could benefit from ASCENIV.
Good afternoon, and welcome to the ADMA. biologics Second Quarter 2024 Financial Results and Business Update Conference Call on Thursday, August 8, 2024. (Operator Instructions) Please be advised that this call is being recorded at the company's request and will be available on the company's website approximately two hours following the end of the call.
At this time, I would like to introduce Skyler Bloom. Please go ahead.
Welcome, everyone, and thank you for joining us this afternoon to discuss ADMA Biologics financial results for the second quarter of 2024 and recent corporate updates. IĆ¢m joined today by Adam Grossman, President, Chief Executive Officer; and Brad Tade, Chief Financial Officer and Treasurer.
During todayĆ¢s call, Adam will provide some introductory comments and provide an update on corporate progress, and then Brad will provide an overview of the companyĆ¢s second quarter 2024 financial results. Finally, Adam will
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investorsā 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
