Every material Form 8-K ADMA Biologics has filed with the SEC since July 26, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
ADMA Biologics reported third quarter 2026 total revenue of $141.1 million, up 5% from a year earlier, and GAAP net income of $49.9 million, up 37%. The company reiterated its FY2026 revenue outlook of at least $530 million and raised its minimum expectations for Adjusted Net Income and Adjusted EBITDA. BIVIGAM revenue fell from the prior-year quarter, a trend the company says showed signs of stabilizing.
Q3 2026 ASCENIV revenue was $124.7 million, up 31% year-over-year; BIVIGAM revenue was $15.4 million, down from $23.8 million a year earlier.
GAAP net income was $49.9 million, or $0.22 basic EPS, compared with $36.4 million and $0.15 in the prior-year quarter.
FY2026 outlook: total revenue at least $530 million (reiterated), Adjusted Net Income at least $180 million, and Adjusted EBITDA at least $275 million (both raised).
The company repurchased 2.7 million shares in the third quarter and is on track for a $200 million or more 2026 buyback target.
ADMA Biologics reported second quarter 2026 revenue of $124.4 million, up 2% from a year earlier, and GAAP net income of $37.8 million, up 11%. The company reiterated its FY2026 guidance, including total revenue of $530 million to $560 million, and said it repurchased approximately 7.1 million shares in the quarter.
Q2 total revenue $124.4 million vs. $122.0 million; ASCENIV revenue $102.9 million, up 24%; BIVIGAM revenue $19.4 million, down 49%
GAAP net income $37.8 million vs. $34.2 million; GAAP basic EPS $0.17 vs. $0.14; effective tax rate 24.7% vs. 14.7%
FY2026 guidance reiterated: total revenue $530 million to $560 million, Adjusted Net Income $170 million to $200 million, Adjusted EBITDA $265 million to $300 million
Repurchased approximately 7.1 million shares in Q2; company is on track for a $200 million or more 2026 share repurchase target
ADMA Biologics reported first-quarter 2026 revenue of $114.5 million, essentially flat from $114.8 million a year earlier, while GAAP net income rose 68% to $45.3 million, driven mainly by a shift from BIVIGAM to ASCENIV. The company issued FY 2026 guidance of $530 million to $560 million in total revenue and withdrew its previously provided long-term guidance, citing competitive pressure in the U.S. plasma-derived therapy and immunoglobulin market.
Q1 2026 total revenue $114.5 million vs. $114.8 million in Q1 2025; BIVIGAM revenue fell 54% to $15.4 million, while ASCENIV rose 28% to $97.5 million.
Q1 2026 GAAP net income $45.3 million, up from $26.9 million; Adjusted Net Income $40.7 million, up 22%; Adjusted EBITDA $59.7 million, up 24%.
FY 2026 guidance: total revenue $530 million to $560 million; Adjusted Net Income $170 million to $200 million; Adjusted EBITDA $265 million to $300 million.
Audit Committee review following allegations of channel stuffing and undisclosed related party transactions concluded that ADMA did not engage in either, and found no evidence of illegal activity.
ADMA Biologics reported full-year 2025 total revenue of $510.2 million, up 20% from 2024, and reiterated its 2026-2029 financial guidance. GAAP net income fell to $146.9 million from $197.7 million, which included an $84.3 million one-time tax benefit in 2024. CFO Brad Tade is retiring and Terry Kohler becomes CFO on February 26, 2026.
Full-year 2025 revenue was $510.2 million, up from $426.5 million in 2024; ASCENIV revenue rose 51% to $363 million.
GAAP net income was $146.9 million in 2025 versus $197.7 million in 2024, which included an $84.3 million non-recurring tax benefit; Adjusted Net Income rose 35% to $160.8 million.
Terry Kohler, previously Executive Financial Advisor, was promoted to CFO and Treasurer effective February 26, 2026, succeeding Brad Tade.
Tade will serve as a consultant through July 31, 2026, at a monthly gross amount of $41,666.67; the company expects FY 2026 revenue to exceed $635 million.
ADMA Biologics preliminarily estimated unaudited full-year 2025 total revenue of approximately $510-$511 million, which the company says meets or exceeds its prior guidance. It raised its fiscal 2026 revenue and Adjusted EBITDA guidance, and the figures remain subject to audit and change.
Preliminary unaudited FY 2025 total revenue of approximately $510-$511 million, which the company says meets or exceeds prior guidance
FY 2026 revenue guidance raised to approximately $635 million from $630 million previously
FY 2026 Adjusted EBITDA guidance raised to approximately $360 million from $355 million; FY 2026 Adjusted Net Income guidance reiterated at approximately $255 million
Year-end 2025 cash of approximately $88 million, including an unaudited estimate of approximately $40 million operating cash flow in Q4 2025
ADMA Biologics reported third quarter 2025 total revenue of $134.2 million, up 12% from a year earlier, and GAAP net income of $36.4 million, up from $35.9 million. The company raised its full-year 2025 revenue guidance to at least $510 million and its 2026 revenue guidance to at least $630 million, but lowered 2025 adjusted net income guidance to approximately $158 million from more than $175 million because of a higher effective tax rate.
Q3 2025 GAAP net income was $36.4 million versus $35.9 million in Q3 2024; adjusted EBITDA was $58.7 million, up 29%.
Gross margin was 56.3% versus 49.8% a year earlier.
FY 2025 revenue guidance raised to at least $510 million; FY 2025 adjusted net income revised to approximately $158 million from more than $175 million.
FY 2026 revenue guidance raised to at least $630 million; FY 2026 adjusted EBITDA guidance raised to more than $355 million.
ADMA Biologics reported second-quarter 2025 revenue of $122.0 million, up 14%, and GAAP net income of $34.2 million, up from $32.1 million a year earlier. On August 5, 2025, the company entered a $300 million senior secured credit agreement led by JPMorgan Chase Bank, N.A., and used it to repay its prior Ares Capital Corporation facility in full. The company also reaffirmed its full-year 2025 and 2026 guidance.
Q2 2025 total revenue was $122.0 million, up from $107.2 million; diluted EPS was $0.14 versus $0.13.
Credit Agreement dated August 5, 2025: $75 million term loan and $225 million revolver, both maturing August 5, 2028.
Proceeds repaid the Ares Capital Corporation credit facility in full, with a $1.2 million loss on extinguishment of debt recorded in Q2.
FY 2025 revenue guidance of more than $500 million and Adjusted EBITDA guidance of more than $235 million were reaffirmed.
ADMA Biologics reported first-quarter 2025 revenue of $114.8 million, up 40% from a year earlier, and GAAP net income of $26.9 million, up 51%. The company raised its 2025 total revenue guidance to more than $500 million and its 2026 guidance to $625 million or more, and its board authorized a share repurchase program of up to $500 million with no expiration date.
Q1 2025 revenue was $114.8 million versus $81.9 million in Q1 2024; GAAP net income was $26.9 million versus $17.8 million.
FY 2025 total revenue guidance was raised to more than $500 million; FY 2026 total revenue guidance was raised to $625 million or more.
The board authorized a share repurchase program of up to $500 million, which the filing says has no expiration date.
On May 5, 2025 the company borrowed $30.0 million under its Ares revolving credit facility and used it to repay $30.0 million of its term loan; $2.5 million of the term loan remains outstanding.
ADMA Biologics reported full-year 2024 total revenue of $426.5 million, up 65% from 2023, and GAAP net income of $197.7 million, which includes an $84.3 million valuation allowance tax benefit. It raised its FY 2025 and 2026 revenue, Adjusted Net Income and Adjusted EBITDA guidance, but said it expects to file its Form 10-K late, on or before March 18, 2025, because KPMG has not yet completed its audit procedures.
FY 2024 revenue $426.5 million vs. $258.2 million in FY 2023; GAAP net income $197.7 million vs. a net loss of $28.2 million
FY 2024 Adjusted EBITDA $164.6 million and Adjusted Net Income $119.2 million, vs. $40.2 million and $0.7 million in FY 2023
FY 2025 total revenue guidance raised to more than $490 million; FY 2026 to more than $605 million
Company intends to file a Form 12b-25 and expects to file the Form 10-K on or before March 18, 2025; KPMG has not completed its audit procedures
On February 19, 2025, ADMA Biologics' board approved 2025 base salaries, 2024 cash bonuses and new equity awards for CEO Adam S. Grossman, COO Kaitlin Kestenberg and CFO Brad Tade. The board also approved a higher annual equity grant policy and higher committee retainers for non-employee directors, effective January 1, 2025.
Grossman's 2025 base salary is $925,000 and his 2024 non-equity incentive compensation is $1,020,000.
Grants made February 19, 2025 at $16.07 per share, the Nasdaq closing price on the grant date, include 252,022 RSUs and 376,744 options for Grossman.
Non-employee directors will receive $350,000 of annual long-term incentive value, split 50% RSUs and 50% options.
Audit Committee chair retainer rises to $25,000 from the filing's stated levels, effective January 1, 2025.
ADMA Biologics preliminarily estimated unaudited total 2024 revenue of $417-425 million, above its previous guidance of $415 million, and said year-end 2024 cash grew to more than $100 million. The company also expects 2025 total revenue above $485 million and net income above $170 million, which gives shareholders updated figures for the year ahead.
Preliminary unaudited FY 2024 total revenue of $417-425 million, versus previous guidance of $415 million
Year-end 2024 total cash above $100 million, up about $45 million quarter over quarter, after $30 million of debt discharged in Q4 2024
FY 2025 total revenue expected to exceed $485 million and net income to exceed $170 million; FY 2026 revenue expected above $600 million
PAS submitted to the FDA for yield enhancement production process; approval anticipated mid-2025
ADMA Biologics appointed Eduardo Rene Salas to its Board of Directors as a Class I director, effective December 30, 2024, with a term ending at the 2026 annual meeting. Salas has financial executive and audit experience, including former CFO of Wellstat Therapeutics and a 2002 to 2019 audit partner role at Ernst & Young. The filing describes this as a board appointment with standard non-employee director compensation, including an initial grant of options to purchase 20,011 shares.
Eduardo Rene Salas appointed to Board on December 30, 2024 as a Class I director
Term expires at the Company's 2026 annual meeting of stockholders
Served as CFO of Wellstat Therapeutics, LLC from 2020 to 2022
Initial grant of options to purchase 20,011 shares of common stock upon joining the Board
ADMA Biologics disclosed that Bryant E. Fong resigned from its Board of Directors and all committees effective immediately, to devote more time to his outside roles. The filing states there were no disagreements with the company, and Mr. Fong had served on the board since 2012. The company also named committee replacements, which matters to shareholders because it changes who oversees audit and governance.
Bryant E. Fong resigned effective immediately on November 19, 2024, citing more time for outside roles at Biomark Capital Fund and Stonepine Capital Management
Mr. Fong had served on the board since 2012 and was Chairman of the Audit Committee
Young T. Kwon, PhD was appointed Audit Committee Chairman and designated an audit committee financial expert on November 19, 2024
Steven A. Elms joined the Audit Committee; Alison C. Finger joined the Governance and Nominations and Compensation Committees
ADMA Biologics reported third quarter 2024 revenue of $119.8 million, up 78% from a year earlier, and GAAP net income of $35.9 million, compared with $2.6 million in the prior-year quarter. The company raised its full-year 2024 and 2025 revenue, GAAP net income and Adjusted EBITDA guidance, and appointed KPMG LLP as its new independent auditor.
Q3 2024 revenue was $119.8 million versus $67.3 million in Q3 2023; corporate gross margin was 50% versus 37%.
Q3 2024 GAAP net income was $35.9 million, or $0.15 per diluted share, versus $2.6 million a year earlier.
FY 2024 revenue guidance rose to more than $415 million from more than $400 million; FY 2024 GAAP net income guidance rose to more than $120 million from $105 million.
KPMG LLP was engaged as the new independent registered public accounting firm effective November 7, 2024, succeeding CohnReznick.
ADMA Biologics reported second quarter 2024 total revenue of $107.2 million, up 78% from $60.1 million a year earlier, and GAAP net income of $32.1 million, compared with a net loss of $6.4 million in the second quarter of 2023. The company raised its full-year 2024 revenue guidance to more than $400 million from more than $355 million and its net income guidance to more than $105 million from $85 million. Revenue included a non-recurring $12.6 million increase tied to a change in estimate for U.S. Medicaid rebates.
Q2 2024 revenue of $107.2 million, up $47.1 million (about 78%) year over year, with the increase primarily from higher ASCENIV sales
Q2 2024 GAAP net income of $32.1 million, or $0.13 per diluted share, versus a net loss of $6.4 million in Q2 2023
FY 2024 revenue guidance raised to more than $400 million from more than $355 million; net income guidance raised to more than $105 million from $85 million
Corporate gross margin of 53.6% in Q2 2024, compared with 27.8% in Q2 2023; cash and cash equivalents of $88.2 million at June 30, 2024
ADMA Biologics promoted Brad Tade, its former vice president of financial operations, to chief financial officer and treasurer effective July 24, 2024. The company entered into an employment agreement with Mr. Tade, which sets a $435,000 base salary, a target bonus of 45% of salary, and equity grants of options and restricted stock units.
Brad Tade, age 51, joined ADMA in June 2023 as vice president, financial operations, and is now CFO and treasurer effective July 24, 2024
Base salary of $435,000 with a target annual cash bonus of 45% of base salary
Equity grant of an option to purchase 115,100 shares and 72,400 restricted stock units, vesting over four years
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every ADMA Biologics filing is on SEC EDGAR ↗. 8-K briefs of other companies →