ADMA Biologics Q4 EPS Surges 50% to $0.21, Guides $635M 2026 Revenue
ADMA Biologics reported Q4 EPS of $0.21 versus $0.14 a year earlier and saw revenues rise 18% to $139.2 million on strong Asceniv sales. It ended 2025 with $88 million cash excluding a $12 million plasma center sale and guided 2026 revenues above $635 million, net income of $255 million.
1. Q4 2025 Results
ADMA Biologics delivered adjusted EPS of $0.21 in the fourth quarter, up from $0.14 a year ago, while reported EPS was $0.20. Total revenues reached $139.2 million, marking an 18% year-over-year increase driven by higher product volumes.
2. Asceniv Performance and Margins
Asceniv, the company’s lead plasma-derived IVIG, achieved record utilization and was the primary driver of revenue growth. Gross margin expanded to 63.8% from 54% due to a favorable mix of higher-margin immunoglobulin sales and operational efficiencies reducing manufacturing costs.
3. Cash Position and Divestiture
ADMA closed 2025 with approximately $88 million in cash, excluding expected proceeds from a $12 million divestiture of three plasma collection centers. The divestiture, slated to close in Q1 2026, retains seven strategic plasma centers and strengthens the company’s capital position.
4. 2026 Financial Guidance
Management projects 2026 revenues to exceed $635 million with net income above $255 million, supported by continued Asceniv adoption, the first full year of yield-enhanced production, and expanded plasma supply agreements covering over 280 collection centers.