ADMA Biologics (NASDAQ:ADMA) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• ADMA beat quarterly estimates: EPS was $0.23 versus the $0.20 consensus, while revenue of $141.1 million exceeded estimates and increased 5.1% year over year.
• ASCENIV fueled stronger profitability: Its revenue grew 31% to $124.7 million, and adjusted EBITDA rose 32% to $77.3 million. ADMA maintained its 2026 revenue outlook of at least $530 million but raised its minimum adjusted EBITDA and adjusted net income guidance.
• BIVIGAM remained a headwind: Revenue declined amid pricing and channel competition, despite signs of utilization stabilization. Shares fell 5.7% during Wednesday trading.

ADMA Biologics (NASDAQ:ADMA - Get Free Report) issued its quarterly earnings data on Wednesday. The biotechnology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.03, FiscalAI reports. The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $138.11 million. ADMA Biologics had a return on equity of 40.17% and a net margin of 32.98%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share.

Here are the key takeaways from ADMA Biologics' conference call:

• ASCENIV drove growth: Revenue rose 31% year over year to $124.7 million, with management citing broader physician adoption, new patient starts, and continued pull-through. The company said primary immunodeficiency remains the main growth driver, while uptake in secondary immunodeficiency has been more moderate.
• Profitability and outlook improved: Gross margin reached 71%, and adjusted EBITDA grew 32% year over year to $77.3 million. ADMA maintained its 2026 revenue outlook of at least $530 million while raising minimum adjusted EBITDA guidance to $275 million and adjusted net income guidance to $180 million.
• BIVIGAM remained under pressure: Revenue fell to $15.4 million from $19.4 million in the second quarter and $23.8 million a year earlier, amid pricing and channel competition. Management noted signs of utilization stabilization entering the fourth quarter but said discounting pressures persist.
• Share repurchases continued at scale: ADMA repurchased $181.4 million of stock in the first nine months, buying back 16.5 million shares, or about 6.3% of year-end 2025 shares outstanding. The company reiterated its target of at least $200 million in repurchases for 2026.
• SG-001 advanced, but timing remains uncertain: The FDA provided constructive pre-IND feedback on the candidate’s proposed clinical strategy and assay, and ADMA plans to incorporate recommendations into its IND preparations. Management did not provide a filing timeline and expects higher fourth-quarter R&D spending as it produces conformance lots.

ADMA Biologics Stock Down 5.7%

Shares of ADMA traded down $0.63 during mid-day trading on Wednesday, reaching $10.48. The company had a trading volume of 13,368,485 shares, compared to its average volume of 2,851,409. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.81 and a current ratio of 6.97. The firm has a 50-day moving average price of $10.07 and a 200 day moving average price of $10.93. ADMA Biologics has a 52 week low of $7.21 and a 52 week high of $20.46. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 14.97 and a beta of 0.65.

Key Headlines Impacting ADMA Biologics

Here are the key news stories impacting ADMA Biologics this week:

• Positive Sentiment: Q3 revenue was $141.1 million, ahead of the $138.1 million consensus, while GAAP EPS was $0.22 and adjusted EPS was $0.23—both above estimates. GAAP net income rose 37% year over year to $49.9 million. ADMA Q3 results and business update
• Positive Sentiment: ASCENIV revenue increased 31% year over year to $124.7 million. Gross margin expanded by about 1,450 basis points to 71%, and adjusted EBITDA grew 32% to $77.3 million, indicating improving profitability and operating leverage. ADMA Q3 results and business update
• Positive Sentiment: The company increased its adjusted earnings outlook, cited encouraging regulatory feedback for SG-001, and highlighted share repurchases and evidence supporting ASCENIV’s commercial position. ADMA Q3 results and business update
• Neutral Sentiment: ADMA reiterated its FY2026 revenue guidance rather than raising it. Revenue grew 5% year over year, a more modest rate than ASCENIV’s growth; these factors may have tempered the upbeat earnings report, though the provided articles do not establish why the stock fell. ADMA Q3 results and business update

Wall Street Analyst Weigh In

Several research firms have weighed in on ADMA. Weiss Ratings reissued a "hold (c)" rating on shares of ADMA Biologics in a research note on Monday, September 14th. Zacks Research upgraded ADMA Biologics from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 2nd. Finally, Mizuho lowered their target price on ADMA Biologics from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, ADMA Biologics currently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

ADMA Biologics Company Profile

ADMA Biologics, Inc is a biopharmaceutical company focused on developing, manufacturing and commercializing plasma-derived biologic products for people with compromised or weakened immune systems. The company's activities include collecting human plasma, developing immune globulin therapies and manufacturing products for use in the prevention and treatment of certain infectious diseases.

ADMA's portfolio includes Asceniv, an intravenous immune globulin indicated for primary humoral immunodeficiency disease, and Bivigam, an intravenous immune globulin used for the treatment of primary humoral immunodeficiency.

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