$ADMA

ADMA BIOLOGICS, INC.

CIK:0001368514|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
REVENUES	$ 124,395	$ 121,984	$ 238,888	$ 236,786
Cost of product revenue	38,118	54,757	71,861	108,463
Gross profit	86,277	67,227	167,027	128,323
OPERATING EXPENSES:
Research and development	6,014	1,031	8,611	1,858
Plasma center operating expenses	1,026	1,152	2,088	2,438
Amortization of intangible assets	55	32	110	57
Gain on sale of plasma centers	0	0	(7,980)	0
Selling, general and administrative	26,737	22,214	53,479	46,292
Total operating expenses	33,832	24,429	56,308	50,645
INCOME FROM OPERATIONS	52,445	42,798	110,719	77,678
OTHER INCOME (EXPENSE):
Interest and other income	1,238	400	2,331	1,008
Interest expense	(3,424)	(1,834)	(5,524)	(3,809)
Loss on extinguishment of debt	0	(1,159)	0	(1,159)
Other expense	(22)	(108)	(161)	(172)
Other income (expense), net	(2,208)	(2,701)	(3,354)	(4,132)
INCOME BEFORE INCOME TAXES	50,237	40,097	107,365	73,546
Provision for income taxes	12,415	5,878	24,215	12,424
NET INCOME	$ 37,822	$ 34,219	$ 83,150	$ 61,122
BASIC EARNINGS PER COMMON SHARE (in Dollars per share)	$ 0.17	$ 0.14	$ 0.36	$ 0.26
DILUTED EARNINGS PER COMMON SHARE (in Dollars per share)	$ 0.16	$ 0.14	$ 0.35	$ 0.25
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in Shares)	228,232,503	241,490,715	232,136,480	238,309,156
Diluted (in Shares)	230,337,048	248,608,460	235,240,375	245,750,155

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 83,150	$ 61,122
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,620	4,027
Gain on sale of plasma centers	(7,980)	0
Loss on disposal of fixed assets	42	0
Deferred income tax provision	3,295	5,045
Stock-based compensation	12,464	9,587
Amortization of debt discount	383	350
Loss on extinguishment of debt	0	1,159
Amortization of license revenue	(71)	(71)
Changes in operating assets and liabilities:
Accounts receivable	20,198	(59,726)
Inventories	(32,848)	(21,229)
Prepaid expenses and other current assets	(1,181)	(2,095)
Deposits and other assets	(22)	(306)
Accounts payable	8,846	9,409
Accrued expenses	(1,478)	(5,206)
Other current and non-current liabilities	(630)	(602)
Net cash provided by operating activities	87,788	1,464
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(4,799)	(7,123)
Acquisition of intangible assets	(53)	(124)
Proceeds on the sales of assets held for sale	5,000	0
Net cash provided by (used in) investing activities	148	(7,247)
CASH FLOWS FROM FINANCING ACTIVITIES:
Prepayment penalties on repayment of debt	0	(450)
Taxes paid on vested restricted stock units	(8,986)	(8,419)
Net proceeds from the exercise of stock options	623	2,165
Payment of end of term fee	0	(375)
Acquisition of treasury stock	(155,245)	0
Net cash used in financing activities	(39,546)	(7,079)
Net increase (decrease) in cash and cash equivalents	48,390	(12,862)
Cash and cash equivalents - beginning of period	87,630	103,147
Cash and cash equivalents - end of period	136,020	90,285
Ares Reolving Facility [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Term loan payments	0	(30,000)
Revolving facility proceeds	0	30,000
JPM Reolving Facility [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Term loan payments	(938)	0
Revolving facility proceeds	$ 125,000	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 136,020	$ 87,630
Accounts receivable, net	138,231	158,429
Inventories, net	239,313	206,465
Prepaid expenses and other current assets	14,639	7,458
Assets held for sale	0	6,530
Total current assets	528,203	466,512
Property and equipment, net	66,664	65,057
Intangible assets, net	575	632
Goodwill	3,530	3,530
Deferred tax assets, net	69,965	73,261
Right-of-use assets	6,146	6,650
Deposits and other assets	9,127	8,600
TOTAL ASSETS	684,210	624,242
Current liabilities:
Accounts payable	31,724	22,519
Accrued expenses and other current liabilities	39,105	40,466
Current portion of long-term debt	3,750	2,813
Current portion of lease obligations	1,178	1,096
Liabilities held for sale	0	2,647
Total current liabilities	75,757	69,541
Long-term debt	192,839	69,330
Deferred revenue, net of current portion	1,334	1,405
Lease obligations, net of current portion	6,072	6,646
TOTAL LIABILITIES	276,002	146,922
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred Stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common Stock - voting, $0.0001 par value, 300,000,000 shares authorized, June 30, 2026: 241,089,992 issued and 225,355,228 outstanding; December 31, 2025: 239,793,566 issued and 237,874,496 outstanding	24	24
Treasury stock, at cost, 15,734,764 and 1,919,070 shares as of June 30, 2026 and December 31, 2025, respectively	(188,452)	(32,090)
Additional paid-in capital	675,139	671,039
Accumulated deficit	(78,503)	(161,653)
TOTAL STOCKHOLDERS' EQUITY	408,208	477,320
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 684,210	$ 624,242