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AI brief of an SEC Form 8-K · ADMA Biologics (ADMA)

ADMA Biologics Q1 revenue flat at $114.5 million; withdraws long-term guidance

Mixed Impact 4 of 5 guidance Written later

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.

Key points

  • 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.

The filing

CompanyADMA Biologics (ADMA)
Form8-K, current report
Filed with the SECMay 6, 2026, 4:10 PM ET
Accession number0001140361-26-019295

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 06, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.