Revenue: As of FY2026 Q1, the actual value is USD 114.49 M, missing the estimate of USD 139.97 M.EPS: As of FY2026 Q1, the actual value is USD 0.19, missing the estimate of USD 0.1933.EBIT: As of FY2026 Q1, the actual value is USD 59.28 M.<h4>Revenue</h4><ul><li>Total Revenue: ADMA Biologics, Inc. reported total revenue of $114.5 million for the first quarter of 2026, which was flat year-over-year compared to $114.8 million in the first quarter of 2025.<ul><li>ASCENIV Revenue: ASCENIV revenue was $97.5 million, representing a 28% year-over-year growth.</li><li>BIVIGAM Revenue: BIVIGAM revenue declined by 54% year-over-year to $15.4 million.</li><li>Intermediates and other products Revenue: Revenue from intermediates and other products decreased by $3.0 million year-over-year, reaching $0.833 million in Q1 2026 from $3.872 million in Q1 2025, a -78.5% decline.</li><li>ADMA BioManufacturing Revenue: This segment reported $113.741 million in revenue for Q1 2026, nearly flat compared to $113.716 million in Q1 2025.</li><li>Plasma Collection Centers Revenue: Revenue from Plasma Collection Centers was $0.716 million, a -31.8% decrease from $1.050 million in Q1 2025.</li><li>License Revenue: License revenue remained flat at $0.036 million year-over-year.</li></ul></li></ul><h4>Profitability</h4><ul><li>Gross Profit: Gross profit for the quarter was $80.8 million, an increase from $61.1 million in the prior-year period.</li><li>Gross Margin: The company achieved a gross margin of 71% in the first quarter of 2026, up from 53% in the prior-year period.</li><li>GAAP Net Income: GAAP net income was $45.3 million, a 68% year-over-year growth compared to $26.9 million in the first quarter of 2025.</li><li>Adjusted Net Income: Adjusted Net Income grew 22% year-over-year to $40.7 million in Q1 2026, from $33.299 million in Q1 2025.</li><li>Adjusted EBITDA: Adjusted EBITDA increased 24% year-over-year to $59.7 million in Q1 2026, from $47.939 million in Q1 2025.</li><li>Income from Operations: Income from operations was $58.274 million in Q1 2026, up from $34.881 million in Q1 2025.</li></ul><h4>Operating Expenses</h4><ul><li>Research and development expenses: Research and development expenses increased to $2.6 million from $0.8 million in the prior-year period, primarily due to investments in the SG-001 development project.</li><li>Selling, general and administrative expenses: Selling, general and administrative expenses were $26.7 million, up from $24.1 million in the prior-year period, mainly due to higher employee-related costs.</li><li>Gain on sale of plasma centers: The company recognized a gain of $7.980 million from the sale of plasma centers in Q1 2026.</li></ul><h4>Cash Flow</h4><ul><li>Cash from Operations: Cash from operations was $58 million for the first quarter of 2026, highlighting strong cash generation.</li></ul><h4>Other Key Metrics</h4><ul><li>Net Leverage: ADMA Biologics, Inc. exited the first quarter of 2026 with net leverage below 0.5x.</li><li>Share Repurchases: The company converted approximately 3.7% of its outstanding share count into treasury stock through its Accelerated Share Repurchase (ASR) program and Rule 10b5-1 trading plan through March 31, 2026.</li><li>SG-001 Market Opportunity: The investigational hyperimmune globulin program, SG-001, is positioned for a potentially rapid commercial ramp-up toward an approximately $300 million to $500 million annual market opportunity, if approved.</li></ul><h4>Outlook / Guidance</h4>ADMA Biologics, Inc. updated its financial outlook for fiscal year 2026, projecting total revenue between $530 million and $560 million, Adjusted Net Income between $170 million and $200 million, and Adjusted EBITDA between $265 million and $300 million. The company withdrew its previously provided long-term guidance due to evolving competitive dynamics in the U.S. plasma products and immunoglobulin (IG) market, though the growth outlook for ASCENIV remains strong.

Adma Biologics | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 114.49 M