ADMA Biologics Inc
admabiologics.comWhat Do They Do?
Makes plasma-derived immune globulin medicines, including ASCENIV, BIVIGAM and Nabi-HB, for people with immune deficiencies or at risk of certain infections.
10-K for FY2025, filed Feb 25, 2026We are a U.S. based end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty…View ↗
Through our ADMA BioManufacturing business segment, we currently have three products with U.S. Food and Drug Administration (the “FDA”)…View ↗
Nabi-HB is a hyperimmune globulin that is rich in antibodies to the Hepatitis B virus. Nabi-HB is a purified human polyclonal antibody…View ↗
How Do They Make Money?
Buyers pay for immunoglobulin products and plasma when delivered, with product payments typically due within 90 days of sale. ADMA also earns revenue from contract manufacturing and lab services and royalties tied to ASCENIV sales in licensed territories.
10-K for FY2025, filed Feb 25, 2026Revenues for the years ended December 31, 2025, 2024 and 2023 are comprised of (i) revenues from the sale of the Company’s immunoglobulin…View ↗
Product revenue is recognized when the customer is deemed to have control over the product and the performance obligation is satisfied.…View ↗
Product revenues from the sale of human plasma collected at the Company’s plasma collection centers are recognized at the time control of…View ↗
For all of the Company’s product revenues, payment from the customer is typically due within 90 days of sale.View ↗
Pursuant to our Manufacturing, Supply and License Agreement effective as of December 2012, we granted to Biotest AG (“Biotest”) an…View ↗
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by reportable segment ↗
$510.2M
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10-K for FY2025, filed Feb 25, 2026
$510.2M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
ADMA BioManufacturing
|
97%
FY2022: 94%
|
ADMA BioManufacturing, FY2025
$493.1M Sources
|
|
|
Plasma Collection Centers
Sold outright
|
3.3%
FY2022: 6.4%
|
Plasma Collection Centers, FY2025
$17M Sources
|
Sold outright |
Who Are Their Customers?
ADMA sells ASCENIV, BIVIGAM and Nabi-HB primarily through independent distributors and drug wholesalers to specialty pharmacies, infusion centers, home-health infusion providers and hospitals; it also sells unused plasma to third-party manufacturers under supply agreements or on the spot market.
10-K for FY2025, filed Feb 25, 2026Currently, ASCENIV, BIVIGAM and Nabi-HB are sold primarily through independent distributors, drug wholesalers acting as sales agents…View ↗
We market and sell our products through our specialty sales force, distribution relationships and other customary industry methods. We…View ↗
As of December 31, 2025, our ADMA BioCenters subsidiary operated ten source plasma collection facilities in the U.S., all of which hold FDA…View ↗
10-K for FY2025, filed Feb 25, 2026
For the years ended December 31, 2025, 2024, and 2023, two customers accounted for approximately 73%, 72% and 72%, respectively, of the…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 29 cents of every revenue dollar as net income in FY2025 and turned 5 cents into free cash flow.
10-K for FY2025, filed Feb 25, 2026
$191.4MView ↗
10-K for FY2025, filed Feb 25, 2026
$146.9MView ↗
10-K for FY2025, filed Feb 25, 2026
$27.8MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Aug 5, 2026
Reiterated FY2026 financial guidance
FY2026 revenue is expected at $530 million to $560 million, and adjusted net income at $170 million to $200 million.
Sources
8-K, filed Aug 5, 2026
FY2026 total revenue expected to be $530 million to $560 millionView ↗
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May 4, 2026
FDA expanded ASCENIV’s label to pediatric patients aged two and older
The expanded indication covers primary humoral immunodeficiency in pediatric patients two years of age and older.
Sources
8-K, filed May 4, 2026
RAMSEY, N.J. and BOCA RATON, Fla., May 4, 2026 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), a U.S.…View ↗
Growing. Revenue grew 6.3x in 4 years, from $80.9M in FY2021 to $510.2M in FY2025, about 58% a year.
Who Do They Compete With?
Competes with CSL Behring, Grifols, Takeda, Octapharma, and BPL/Kedrion
10-K for FY2025, filed Feb 25, 2026These competitors may include but are not limited to: CSL Behring, Grifols, Takeda, Octapharma and BPL/Kedrion. There are four producers of…View ↗
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