ADMA Biologics Hikes FY2026 Guidance After Record $510M 2025 Revenue
ADMA Biologics posted FY2025 revenue of $510M (+20% year-over-year) with ASCENIV sales rising 51% to $363M, adjusted net income of $161M (+35%) and adjusted EBITDA of $231M (+40%). The company named Terry Kohler incoming CFO and guided FY2026 revenue to exceed $635M with adjusted EBITDA above $360M.
1. Record 2025 Financial Performance
ADMA delivered FY2025 total revenue of $510M, up 20% year-over-year, driven by ASCENIV sales of $363M, a 51% increase. Adjusted net income reached $161M (+35%) and adjusted EBITDA was $231M (+40%), marking record annual profitability.
2. Incoming CFO Appointment
Brad Tade will retire as CFO and serve as consultant through July 2026 as Terry Kohler assumes the role. Kohler brings leadership from previous CFO positions at OptiNose and Verrica, with expertise in working capital optimization, capital markets strategy and disciplined financial execution.
3. Updated Financial Guidance Through 2029
ADMA projects FY2026 revenue to exceed $635M with adjusted EBITDA above $360M and expects FY2027 revenue over $775M with adjusted EBITDA above $455M. The company targets more than $1.1B in annual revenue and at least $700M in adjusted EBITDA by fiscal 2029.
4. Pipeline and Commercial Initiatives
The SG-001 pipeline program is progressing toward an FDA pre-IND meeting in 2026, which could accelerate a registrational trial. ASCENIV adoption continues to expand on the back of real-world data, broader payer coverage, strategic plasma network realignment and ongoing share repurchases.