ADMA Biologics Inc · Q2 2020 earnings

Briefing

ADMA Biologics reported its Q2 2020 financial results with a revenue increase of 19% compared to Q2 2019, but experienced a net loss due to increased costs and expenses.

ADMA Biologics reported a 19% increase in revenue for Q2 2020 compared to Q2 2019, totaling $7.8 million. However, the company experienced a net loss of $20.2 million, primarily due to increased costs of product revenue, research and development expenses, and selling, general, and administrative expenses. The company also faced supply chain disruptions due to the COVID-19 pandemic, which have since been resolved.

• Total revenues for the quarter ended June 30, 2020 were $7.8 million, compared to $6.6 million for the quarter ended June 30, 2019, representing an increase of approximately 19%.
• The increase is primarily due to sales of BIVIGAM, ASCENIV and intermediates, compared to no sales from these products during the same prior year period.
• Consolidated net loss for the quarter ended June 30, 2020 was $20.2 million, or $(0.23) per basic and diluted share, compared to a consolidated net loss of $13.2 million, or $(0.25) per basic and diluted share, for the quarter ended June 30, 2019.
• The increase in net loss of $7.0 million was primarily due to increased cost of product revenue of $3.0 million related to sales of FDA-approved immunoglobulin products not present in the same prior year period.

Headline financials

Revenue & EPS history

ADMA Biologics anticipates generating $250 million or more in annual revenues within the next three to five calendar years.