$ADMA
ADMA Biologics Inc

2021 Q4 Form 10-K Financial Statement

#000114036122011030 Filed on March 24, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $26.38M $80.94M $13.96M
YoY Change 88.99% 91.72% 15.95%
Cost Of Revenue $22.87M $79.77M $19.11M
YoY Change 19.68% 30.15% 63.47%
Gross Profit $3.511M $1.173M -$5.160M
YoY Change -168.05% -106.15% -1574.29%
Gross Profit Margin 13.31% 1.45% -36.96%
Selling, General & Admin $15.79M $42.90M $10.87M
YoY Change 45.31% 22.38% 44.93%
% of Gross Profit 449.8% 3656.14%
Research & Development $729.0K $3.646M $1.010M
YoY Change -27.82% -38.28% 119.57%
% of Gross Profit 20.76% 310.76%
Depreciation & Amortization $1.518M $4.800M $1.230M
YoY Change 23.39% 50.0% 48.19%
% of Gross Profit 43.22% 409.11%
Operating Expenses $16.70M $59.55M $12.06M
YoY Change 38.5% 29.89% 47.61%
Operating Profit -$13.19M -$58.37M -$17.22M
YoY Change -23.4% -10.08% 120.2%
Interest Expense -$3.313M $13.06M -$3.090M
YoY Change 7.23% 8.94% 21.18%
% of Operating Profit
Other Income/Expense, Net -$144.8K -$13.27M -$90.00K
YoY Change 60.89% 22.52% -52.63%
Pretax Income -$16.65M -$71.65M -$19.41M
YoY Change -14.22% -5.42% 83.81%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$16.65M -$71.65M -$19.41M
YoY Change -14.22% -5.41% 83.81%
Net Earnings / Revenue -63.11% -88.52% -139.04%
Basic Earnings Per Share -$0.51
Diluted Earnings Per Share -$91.85K -$0.51 -$200.7K
COMMON SHARES
Basic Shares Outstanding 139.6M 94.55M shares
Diluted Shares Outstanding 139.6M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.09M $51.09M $55.90M
YoY Change -8.61% -8.61% 108.58%
Cash & Equivalents $51.09M $51.09M $55.92M
Short-Term Investments
Other Short-Term Assets $4.339M $4.339M $3.000M
YoY Change 44.64% 44.64% 20.0%
Inventory $124.7M $124.7M $81.54M
Prepaid Expenses
Receivables $28.58M $28.58M $13.24M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $208.7M $208.7M $153.7M
YoY Change 35.77% 35.8% 79.14%
LONG-TERM ASSETS
Property, Plant & Equipment $50.94M $58.20M $41.59M
YoY Change 22.46% 26.79% 31.04%
Goodwill $3.530M $3.500M
YoY Change 0.84% -0.84%
Intangibles $1.729M $2.444M
YoY Change -29.27% -22.64%
Long-Term Investments
YoY Change
Other Assets $4.067M $4.067M $2.100M
YoY Change 93.69% 93.69% -25.0%
Total Long-Term Assets $67.52M $67.52M $53.93M
YoY Change 25.2% 25.04% 30.68%
TOTAL ASSETS
Total Short-Term Assets $208.7M $208.7M $153.7M
Total Long-Term Assets $67.52M $67.52M $53.93M
Total Assets $276.3M $276.3M $207.7M
YoY Change 33.02% 33.01% 63.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.43M $12.43M $11.07M
YoY Change 12.24% 11.98% 20.7%
Accrued Expenses $16.79M $16.79M $8.365M
YoY Change 100.76% 93.04% 86.66%
Deferred Revenue $142.8K $142.8K
YoY Change 0.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.38M $30.38M $19.95M
YoY Change 52.29% 52.65% 42.2%
LONG-TERM LIABILITIES
Long-Term Debt $94.87M $94.87M $93.00M
YoY Change 2.01% 2.01% 11.78%
Other Long-Term Liabilities $397.4K $9.836M $54.89K
YoY Change 623.96% 51.32% -48.5%
Total Long-Term Liabilities $397.4K $104.7M $54.89K
YoY Change 623.96% 5.23% -48.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.38M $30.38M $19.95M
Total Long-Term Liabilities $397.4K $104.7M $54.89K
Total Liabilities $135.1M $135.1M $119.4M
YoY Change 13.11% 13.13% 18.36%
SHAREHOLDERS EQUITY
Retained Earnings -$412.1M -$340.5M
YoY Change 21.04% 28.61%
Common Stock $19.58K $10.49K
YoY Change 86.66% 76.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $141.2M $141.2M $88.25M
YoY Change
Total Liabilities & Shareholders Equity $276.3M $276.3M $207.7M
YoY Change 33.02% 33.01% 63.41%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$16.65M -$71.65M -$19.41M
YoY Change -14.22% -5.41% 83.81%
Depreciation, Depletion And Amortization $1.518M $4.800M $1.230M
YoY Change 23.39% 50.0% 48.19%
Cash From Operating Activities -$33.47M -$112.4M -$32.22M
YoY Change 3.86% 10.16% 63.97%
INVESTING ACTIVITIES
Capital Expenditures -$3.676M $13.51M -$3.600M
YoY Change 2.11% 6.16% 126.42%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities -$3.676M -$13.51M -$3.590M
YoY Change 2.39% 6.18% 125.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $53.80M $121.1M
YoY Change -7.66%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 53.82M 121.0M 32.07M
YoY Change 67.82% -15.88% -320800.0%
NET CHANGE
Cash From Operating Activities -33.47M -112.4M -32.22M
Cash From Investing Activities -3.676M -13.51M -3.590M
Cash From Financing Activities 53.82M 121.0M 32.07M
Net Change In Cash 16.68M -4.832M -3.740M
YoY Change -545.95% -116.57% -82.4%
FREE CASH FLOW
Cash From Operating Activities -$33.47M -$112.4M -$32.22M
Capital Expenditures -$3.676M $13.51M -$3.600M
Free Cash Flow -$29.79M -$125.9M -$28.62M
YoY Change 4.09% 9.72% 58.47%

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246989
CY2021 adma Effective Income Tax Rate Reconciliation Change In Federal Net Operating Loss Amount
EffectiveIncomeTaxRateReconciliationChangeInFederalNetOperatingLossAmount
623679
CY2020 adma Effective Income Tax Rate Reconciliation Change In Federal Net Operating Loss Amount
EffectiveIncomeTaxRateReconciliationChangeInFederalNetOperatingLossAmount
0
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
294982
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
416312
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
73036983
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
59114928
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
31333
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
921577
CY2021Q4 us-gaap Deferred Tax Asset Interest Carryforward
DeferredTaxAssetInterestCarryforward
6013040
CY2020Q4 us-gaap Deferred Tax Asset Interest Carryforward
DeferredTaxAssetInterestCarryforward
2911508
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
977046
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1080041
CY2021Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
519819
CY2020Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
563956
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
1030064
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
2397513
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
81608285
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
66989523
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
81608285
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
66989523
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2021 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-3900000
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-3900000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021 adma Operating Lease Incremental Borrowing Rate Percent
OperatingLeaseIncrementalBorrowingRatePercent
0.13
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
1400000
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1100000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
500000
CY2021Q4 adma Lessee Operating Lease Liabilities Related To Property Lease
LesseeOperatingLeaseLiabilitiesRelatedToPropertyLease
3600000
CY2021Q4 adma Lessee Operating Lease Right Of Use Asset Related To Property Lease
LesseeOperatingLeaseRightOfUseAssetRelatedToPropertyLease
3600000
CY2021 adma Number Of New Property Leases
NumberOfNewPropertyLeases
4
CY2021Q4 adma Operating And Financing Lease Liability
OperatingAndFinancingLeaseLiability
8100000
CY2020Q4 adma Operating And Financing Lease Liability
OperatingAndFinancingLeaseLiability
4700000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y1M6D
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1596006
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1641603
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1517229
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1525793
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1260391
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
6345559
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
13886581
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5833109
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
591084
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7462388
CY2021Q2 us-gaap Security Deposit
SecurityDeposit
300000
CY2021 us-gaap Payments For Rent
PaymentsForRent
0
CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P90M
CY2021 adma Number Of Plasma Collection Facilities Under Development
NumberOfPlasmaCollectionFacilitiesUnderDevelopment
10
CY2021 adma Number Of Operational Collection Plasma Facilities
NumberOfOperationalCollectionPlasmaFacilities
6
CY2021 adma Number Of Fda Licensed Plasma Collection Facilities
NumberOfFDALicensedPlasmaCollectionFacilities
5
CY2021 adma Number Of Fda Licensed Plasma Collection Facilities Received Approval
NumberOfFDALicensedPlasmaCollectionFacilitiesReceivedApproval
1
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
80942625
CY2021 adma Cost Of Product Revenue Excluding Amortization Expense
CostOfProductRevenueExcludingAmortizationExpense
79769341
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-58373741
CY2021 adma Interest And Other Nonoperating Income Expense
InterestAndOtherNonoperatingIncomeExpense
-13273877
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-71647618
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13511258
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5495502
CY2021Q4 us-gaap Assets
Assets
276252724
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42219783
CY2020 adma Cost Of Product Revenue Excluding Amortization Expense
CostOfProductRevenueExcludingAmortizationExpense
61291426
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
-64914877
CY2020 adma Interest And Other Nonoperating Income Expense
InterestAndOtherNonoperatingIncomeExpense
-11825468
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
991797
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-75748548
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12726680
CY2020 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3942292
CY2020Q4 us-gaap Assets
Assets
207673394
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1100000
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
900000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
11159461
CY2020 us-gaap Interest Paid Net
InterestPaidNet
10267632
CY2021 adma Equipment Acquired Reflected In Accounts Payable And Accrued Liabilities
EquipmentAcquiredReflectedInAccountsPayableAndAccruedLiabilities
1352627
CY2020 adma Equipment Acquired Reflected In Accounts Payable And Accrued Liabilities
EquipmentAcquiredReflectedInAccountsPayableAndAccruedLiabilities
973958
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3554473
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3329374
CY2021 adma Warrants Issued In Connection With Notes Payable
WarrantsIssuedInConnectionWithNotesPayable
0
CY2020 adma Warrants Issued In Connection With Notes Payable
WarrantsIssuedInConnectionWithNotesPayable
3740980
CY2021 adma Plasma Purchased
PlasmaPurchased
42000000.0
CY2021 adma Percentage Of Inventory Purchases
PercentageOfInventoryPurchases
0.69
CY2020 adma Plasma Purchased
PlasmaPurchased
25000000.0
CY2020 adma Percentage Of Inventory Purchases
PercentageOfInventoryPurchases
0.68
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
80942625
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42219783

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