After reporting sales growth of over 90% year over year for the second quarter, Adma Biologics (NASDAQ:ADMA) shares increased by over 10%.
Compared to the previous quarter’s total sales of $17.83M, total revenues came in at $33.9M. According to the business, the growth was attributed to an upbeat product mix that continues to expand its client base for the immune globulin medicines Bivigam and Asceniv.
Adma CEO’s Remarks
President and Chief Executive Officer Adam Grossman said, “The usage and expansion of our higher margin immune globulin product, ASCENIVTM, is something that has especially thrilled us. We anticipate that the product and margin mix will continue to positively change over the following periods, drawing on the healthy underlying product demand trends as our primary source of inspiration “.
The gross profit for the second quarter was $7.77 million, compared to a loss of $1 million in the second quarter of 2021.
The company’s net loss was reduced to -$13.76 million, down from -$18.91 million.
Outlook 2022:
Grossman said that “we think we are well-positioned to achieve 2022 total sales surpassing $130 million,” which will be driven by both the expansion of the end market for intravenous immunoglobulin (also known as “IVIG”) and the projected share gains for our product line.
According to the consensus, the revenue forecast for 2022 is $132.69M.
The business reaffirmed its anticipation that it would continue to see an increase in gross profit and a decrease in net losses throughout the year 2022.
Outlook 2024-2025:
Adma said it continues to anticipate topline revenue of about $250 Million or more in 2024 and, after that, approximately $300 Million or more.
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Author Shariq Khan 
