ADMA Biologics preliminarily reported full-year 2025 revenues of approximately $510–511 million, meeting or exceeding prior guidance. Fourth-quarter revenue topped $139 million, driving an estimated operating cash flow of $40 million for the period. Adjusted EBITDA for 4Q 2025 reached at least $78 million, while net income for the quarter was about $50 million, marking a significant increase from the third quarter.

At December 31, 2025, ADMA’s cash holdings grew to approximately $88 million. This balance reflects disciplined working capital management and strong cash generation from commercial operations. The company also continues share repurchase activities, supporting capital structure optimization and enhancing shareholder value.

For full-year 2026, ADMA increased revenue guidance to about $635 million, up from $630 million previously, and raised Adjusted EBITDA expectations to $360 million, up $5 million. Adjusted net income forecast remains at $255 million. Management cited record Asceniv utilization entering 2026, expanding payer coverage and sustained high-titer plasma supply visibility as key drivers of accelerating top-line growth and margin expansion.

In December 2025, ADMA divested three plasma collection centers for $12 million and secured long-term supply agreements with the purchaser, maintaining ownership of seven internal centers. Third-party high-titer plasma suppliers outperformed expectations, expanding the network to over 280 centers. These actions are expected to deliver accretive cost savings, improve capital efficiency, and support increased Asceniv production capacity through the late 2030s.