ADMA Biologics Inc (NASDAQ:ADMA) stock fell 8.09% (As on March 5, 11:21:35 AM UTC-4, Source: Google Finance) though the company reported fourth quarter earnings and revenue that beat analyst estimates, while also raising its future guidance. ADMA cited recently secured long-term high-titer plasma supply agreements as a key driver for future growth, particularly for its ASCENIV product. The company expects these agreements to significantly expand plasma sourcing capacity and de-risk both near-term and long-term growth trajectories. At the end of 2024, ADMA reported over $103 million in total cash, including $60 million of debt organically discharged during the second half of the year. Adjusted EBITDA was $48.3 million for the quarter ended December 31, 2024, as compared to Adjusted EBITDA of $18.6 million for the quarter ended December 31, 2023. Adjusted Net Income was $33.4 million for the quarter ended December 31, 2024, as compared to an Adjusted Net Income of $8.5 million for the quarter ended December 31, 2023.

ADMA in the fourth quarter of FY 24 has reported the adjusted earnings per share of 46 cents, beating the analysts’ estimates for the adjusted earnings per share of 31 cents. The company had reported the adjusted revenue growth of 59 percent to $117.5 million in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $113.4 million. The increase is primarily related to increased sales of our immunoglobulin products, partially offset by a planned decrease in sales of plasma to third parties due to the increasing retention of plasma for internal intravenous immune globulin (IVIG) production.

Gross profit was $63.3 million for the quarter ended December 31, 2024, as compared to $31.1 million for the prior year, which represents a gross margin for the fourth quarter 2024 of 54.0%, as compared to 42.1% for the fourth quarter 2023. The improvement in gross margin is primarily driven by a significantly more favorable mix of higher margin IG sales in 2024 as compared to 2023, along with the reduction in other manufacturing costs.

The company raised its guidance, now expecting FY2025 revenue of over $490 million and FY2026 revenue exceeding $605 million. ADMA also anticipates generating over $1 billion in annual revenue prior to 2030. FY 2025 and 2026 Adjusted Net Income increased to more than $175 million and $235 million, respectively. FY 2025 and 2026 Adjusted EBITDA increased to more than $225 million and $305 million, respectively. Greater than $1 billion of total annual revenue expected to be achieved prior to 2030, with anticipated outsized earnings growth from current margin levels