Kamada Q1 Revenue Hits $45.2M, Affirms $200M–$205M 2026 Guidance
KMDA•First quarter revenue climbed 3% year-over-year to $45.2 million with adjusted EBITDA of $11.6 million delivering a 26% margin and net income of $4.1 million, up 4%. Kamada reaffirmed its 2026 guidance of $200–$205 million in revenues and $50–$53 million of adjusted EBITDA.
1. First Quarter 2026 Financial Results
Kamada reported first quarter revenue of $45.2 million, up 3% year-over-year, driven by higher KEDRAB® and Distribution segment sales. Adjusted EBITDA was $11.6 million, representing a 26% margin, while net income rose 4% to $4.1 million despite a temporary shipment delay impacting Q1 results.
2. Reaffirmed 2026 Guidance
The company confirmed annual revenue guidance of $200–$205 million and adjusted EBITDA target of $50–$53 million, implying 12% revenue growth and 23% EBITDA growth at mid-points compared to 2025. Management expects underlying product demand to accelerate in the remainder of the year.
3. Operational Developments
A single delayed shipment was fulfilled in April, with demand for KEDRAB®, KAMRAB®, and VARIZIG® continuing to expand. Expansion plans include launching additional biosimilars in Israel, extending Distribution into the MENA region, and ramping up plasma collection at three FDA-approved Texas centers.
4. Balance Sheet and Dividend
As of March 31, Kamada held $73.1 million in cash and short-term investments. The company paid a $0.25 per share cash dividend (approximately $14.4 million) on April 7 to shareholders of record.
