Overview

• Biopharmaceutical firm's FY 2025 revenue grew 20% yr/yr, driven by ASCENIV sales

• Adjusted net income for FY 2025 increased 35% yr/yr

Outlook

• ADMA expects FY 2026 revenue to exceed $635 mln

• Company projects FY 2026 adjusted EBITDA to exceed $360 mln

• ADMA anticipates FY 2027 revenue to exceed $775 mln

Result Drivers

• ASCENIV PERFORMANCE - Record demand and prescriber adoption drove ASCENIV revenue growth by 51% yr/yr to $363 mln

• YIELD-ENHANCED PRODUCTION - Integration of yield-enhanced production improved gross margins and earnings power

Company press release: ID:nGNX6t7n5K

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Revenue	Slight Miss*	$139.20 mln	$139.40 mln (2 Analysts)
Q4 Adjusted Net Income	Beat	$52.60 mln	$46.20 mln (2 Analysts)
Q4 Adjusted EBITDA	Miss	$73.60 mln	$77.70 mln (1 Analyst)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for ADMA Biologics Inc is $30.00, about 93.3% above its February 24 closing price of $15.52

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago

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