$ADMA Biologics (ADMA.US)$ NEWS IMPRESSIVE ER ADMA Biologics...
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IMPRESSIVE ER
ADMA Biologics Announces First Quarter 2024 Financial Results and Provides Business Update
ADMA Biologics reported impressive first quarter 2024 financial results, with a total revenue of $81.9 million, a 44% increase year-over-year. The GAAP net income was $17.8 million, a $24.6 million increase year-over-year. Adjusted EBITDA for Q1 2024 was $26.4 million, a 970% increase year-over-year. The company raised its total revenue guidance for FY 2024 to more than $355 million and for FY 2025 to more than $410 million. Net income guidance was also increased for both years, as well as Adjusted EBITDA guidance. ADMA highlighted the success of its ASCENIV™ and BIVIGAM® products in driving commercial growth and reaffirmed its commitment to immune deficient patients. The company is focused on advancing growth initiatives, including biologics production processes and preclinical pipeline programs, to exceed expectations and deliver value to stakeholders.
Positive Impressive first quarter 2024 financial results with a 44% year-over-year increase in total revenue to $81.9 million.
GAAP net income of $17.8 million, marking a substantial increase compared to the previous year.
Adjusted EBITDA for Q1 2024 surged by 970% to $26.4 million year-over-year.
ADMA raised its total revenue guidance for FY 2024 and FY 2025 to more than $355 million and $410 million, respectively.
Net income guidance for FY 2024 and FY 2025 was increased to more than $85 million and $135 million, respectively
.Adjusted EBITDA guidance for FY 2024 and FY 2025 was raised to more than $110 million and $160 million, respectively.
ASCENIV™ and BIVIGAM® products driving commercial growth and solidifying ADMA's position in specialty biologics.
Commitment to advancing growth initiatives to exceed expectations and provide value to stakeholders.
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