Every material Form 8-K ADMA Biologics filed with the SEC in 2025, 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 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
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 →